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:
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80% fear BPR changes put passing their businesses onto the next generation at risk.
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66% expect cuts to staff and apprenticeships.
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76% said investment in equipment and plant would fall.
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47% warned of pressure to sell to bigger companies.
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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…
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