Chancellor's growth mission undermined by looming inheritance tax bills, says CLA

The CLA has welcomed the government's pledge to grow the economy, but warned its plans will be undone by inheritance tax changes.

In a speech Chancellor Rachel Reeves has announced a series of measures to stop blockers from getting in the way of development and growth.

She said the government will create the conditions to increase investment in the UK's economy, adding she wants to see "the sounds and the sights of the future arriving".

CLA President Victoria Vyvyan said:

“Our archaic planning system and over-bearing regulation have long stunted the growth of the economy, so we support the focus on removing barriers and blockers.

“But the government risks undermining its own growth mission by saddling farmers and family businesses with crippling inheritance tax bills and prohibitive employment costs.

"If it does not change course it will end up shooting itself in the foot with one of the most anti-investment and anti-growth policies in living memory."

Measures and projects include:

• Investment in the Oxford-Cambridge growth corridor, creating a "Silicon Valley of Europe".
• Backing the plans for a third runway at Heathrow Airport, which she said could create 100,000 jobs.
• Nearly £30m is to be invested in the reopening of Cornwall's South Crofty tin mine in a scheme expected to create more than 300 jobs.