Advocacy update
Tom Ridgway Public Affairs Manager FBUK
Strategy, followed by the publication of the Small Business Plan in July.
the final week before recess – often the moment for releasing politically sensitive material. The policy change, laid out in the Bill was virtually unchanged from the announcement’s made in last year’s Budget, confirming the Government’s intention to cap BPR and APR at £1 million for the combined value of business and agricultural assets. Furthermore, it failed to produce any insights or impact assessment of the effects of the change. FBUK remains firmly opposed to these changes. Since the draft Bill’s publication, FBUK and our Tax Committee have been scrutinising the proposed legislation and will be submitting detailed comments and proposals in the coming weeks. We continue to press the case with Ministers and officials in No. 10, HM Treasury and the Department for Business and Trade. With Parliament having returned after the summer, we continue to brief MPs ahead of crucial debates and votes on the proposed changes to inheritance tax. Looking ahead This renewed political activity comes as the Government sets out a range of strategies aimed at driving economic growth. Despite recess, the summer
The summer recess has offered little relief for the Government.
These announcements were informed by extensive dialogue between FBUK, our members and senior figures within the Department for Business and Trade. Our engagement with government has helped shape these strategies and we are continuing to As pressure builds on multiple fronts, the Government will be looking to reset its agenda and restore confidence. The Budget (which we preview on the following pages) is ministers the chance to again offer a plan for economic renewal. But it will also come with enormous political risk for a government wedded to its manifesto pledges and fiscal rules. Our ability to represent the interests of family businesses depends on you. Your stories, insights, and experiences make our voice stronger. To share your views or find out more about how you can support our policy efforts, please contact the team at info@familybusinessuk.org work closely with officials in the lead-up to the Autumn Budget. shaping up to be a defining moment and one that offers
Internal dissent over Labour’s flagship welfare reforms, a reshuffle of the Conservative front bench and the emergence of a new left-wing party led by Jeremy Corbyn have added fresh complexity to the electoral landscape. Against this and the challenging economic backdrop, the Prime Minister held a high-profile meeting with President Trump in Scotland. In an unexpected turn, the President emerged as an unlikely advocate for our campaign to reverse the policy changes to BPR and APR. In a joint press conference, the US President stressed the importance of preserving tax reliefs for family-run farms saying that America had ended estate duty for family farms. His remarks reinforce what we have been repeating to government: that the model of family ownership is a vital part of a vibrant economy and that using progressive fiscal policy to support family businesses is an issue world leaders cannot and should not ignore. Finance Bill In July, the Government published its draft Finance Bill for 2025–26. This is the Bill which will enact the policy changes to BPR and APR. It came in
saw the launch of the updated Industrial Strategy and Trade
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