A study by CBI Economics reveals that changes to inheritance tax by Chancellor Rachel Reeves could threaten over 208,500 jobs over the next five years. The changes, particularly impacting agricultural property relief, are estimated to result in a Gross Value Added (GVA) loss of £14.8 billion, while raising only £1.8 billion in tax revenue against a fiscal cost of £1.9 billion. Shadow business secretary Andrew Griffith criticized the government's approach, asserting it undermines family businesses. However, a Treasury spokesperson claimed that most estates would still be relief from inheritance tax obligations.
New research warns that the Chancellor's inheritance tax raid has put more than 200,000 jobs at risk.
This survey shows just how little this government understands or cares about business.
Our reforms to Agricultural and Business Property Reliefs will mean three quarters of estates will continue to pay no inheritance tax at all.
Over the next five years, Reeve's policy will raise around £1.8 billion in tax revenue with a fiscal cost of £1.9 billion.
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