Politics and Government Politics and Government
Mon, December 16, 2024
[ Mon, Dec 16th 2024 ] - MSN
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[ Mon, Dec 16th 2024 ] - London Evening Standard
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[ Mon, Dec 16th 2024 ] - CNN
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[ Mon, Dec 16th 2024 ] - MSN
New inheritance tax rules will 'backfire' on Labour and cost 125,000 jobs in Britain

New inheritance tax rules will 'backfire' on Labour and cost 125,000 jobs in Britain


Published on 2024-12-16 11:01:05 - MSN
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  • According to analysis by CBI Economics, the Treasury has "underestimated the impact" of changes to business property relief (BPR).

The article from MSN discusses the potential economic repercussions of Labour's proposed changes to inheritance tax in the UK. According to the article, Labour's plan to reform inheritance tax could lead to significant job losses, with estimates suggesting up to 125,000 jobs might be at risk. The changes include reducing tax reliefs and exemptions, which could negatively impact sectors like agriculture and small businesses. Critics argue that these reforms might backfire by stifling economic growth and investment, as they could discourage wealth preservation strategies that currently benefit these sectors. The article also mentions opposition from business leaders and Conservative MPs who warn that such tax policies could deter investment and entrepreneurship, ultimately harming the economy rather than fostering growth.

Read the Full MSN Article at:
[ https://www.msn.com/en-gb/politics/government/new-inheritance-tax-rules-will-backfire-on-labour-and-cost-125-000-jobs-in-britain/ar-AA1vXydi ]
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