Founders should not be ‘put off’ by inheritance tax, says Treasury minister
A senior Treasury minister, while praising the state of the UK economy, has said entrepreneurs should not be “put off” by inheritance tax. Emma Reynolds, the chief secretary to the Treasury, on Thursday, at a visit to Numatic International, the makers of the Henry vacuum cleaner, said entrepreneurs should not be “put off” by the [...]
Treasury minister Emma Reynolds has urged entrepreneurs not to be discouraged by inheritance tax, praising the UK's strong economic position. Numatic International, the makers of the Henry vacuum cleaner, hosted Reynolds on a visit to discuss the importance of entrepreneurship. Reynolds emphasized the UK's economic fundamentals, noting that the country has the highest growth in the G7 and is cutting its deficit faster than any other G7 nation.
She asserted that the Treasury is not a "growth inhibitor" despite some of its powers being transferred to Number 10 North, as it has two primary responsibilities: driving growth and stabilizing the economy. Reynolds argued that the government is committed to reducing speculation and providing reassurance to businesses, including founders and investors, but did not offer specific tax measures to address concerns.
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