Reeves’ Budget Sparks Record Number of Businesses in Financial Distress
Capital is fleeing the country at breakneck speed thanks to Reeves’ looming “painful” budget. According to Begbies Traynor, a corporate restructuring specialist, the number of British firms facing “significant” financial distress has skyrocketed by nearly a third compared to last year, reaching a staggering 632,756 between July and September—the highest figure since records began back in 2004. Meanwhile, a survey by Evelyn Partners reveals hundreds of business owners are threatening to flee Britain if Rachel Thieves goes ahead with her tax raid. Labour’s scaremongering and relentless chatter of tax hikes has entrepreneurs running for the hills…
A flurry of budget briefings splashing across the headlines ahead of 30th October will make for grim reading for British businesses and investors. Along with inheritance tax and stamp duty hikes for first-time buyers, Reeves is set to cut business asset disposal relief, which allows business owners to sell their assets at just a 10% tax on the profits of a sale. Guido’s old enough to remember when Sir Keir insisted Britain was open for business…