Labour’s inheritance tax raid on family-run businesses will derail any pledge to build 1.5 million new homes by 2029, according to construction chiefs. Can’t ‘build baby build’ if you’ve taxed builders out of existence…
A scathing survey from the Construction Plant-hire Association (CPA) highlights the looming threat from Labour’s changes to Business Property Relief. A survey of 2,000 members shows:
80% fear BPR changes put passing their businesses onto the next generation at risk.
66% expect cuts to staff and apprenticeships.
76% said investment in equipment and plant would fall.
47% warned of pressure to sell to bigger companies.
46% flagged rising financial pressures and insolvency risk.
Steven Mulholland, CPA Chief Executive, said:
“The government’s BPR proposals are strangling family-run construction firms. If these measures continue, businesses will collapse, investment in skills and equipment will dry up, and the 1.5 million homes target will remain a pipe dream. Ministers must act now and reverse this disastrous policy before next week’s budget.”
CPA members contribute roughly £14 billion to the economy and support more than 190,000 jobs. Building trouble…
Former leader of the SNP in Westminster Ian Blackford told Times Radio why he believes Nicola Sturgeon’s claim that she spent no time in the kitchen and therefore didn’t see any of her husband’s purchases:
“She doesn’t have a passion for cooking.”