It's not just family farms that have been destroyed by the Budget's Inheritance Tax changes and as the fallout from the Autumn Budget continues, a new event taking place at The Palladium in Central London will bring members from the wider family business community together to raise awareness of the challenges facing family businesses and the need for consultation and revision to make sure that growth can be delivered in all sectors of the community.
Olly Harrison, one of the farmers behind the massive demonstration and rally in Whitehall in November, is part of the team behind this new event, adds; “Farmers have had a loud voice since the announcements in the Budget associated with Inheritance Tax and APR but BPR is also a significant issue, not just for farmers but family businesses across the nation. Many of them multi-generational and it affects them all. Now is the time for the collective family business voice to be heard.”
The BPR Summit - December 16 (12-3pm) The London Palladium, Argyll Street, London
“We wanted to build on the momentum from the rally and provide a forum for the wider community to come together and amplify the voice of family businesses across the UK.”
Paul Andrews, Founder and CEO of Family Business United, an organisation that champions family businesses continues: “Family businesses, like many of the family farming community, see themselves as custodians or stewards of their family business for generations to come, constantly investing in their businesses and innovating to provide more jobs and sustainable businesses.”
“Family businesses make a massive impact on the communities in which they operate, generating income, providing jobs and creating wealth, much of which is reinvested locally. They already make significant contributions to the Exchequer in terms of taxation annually. They also contribute substantially to the fabric of the local community, clearing roads, supporting charities and sponsoring grass roots sports teams amongst other things. The changes being proposed are likely to have serious consequences with capital investment plans being shelved, support of the community cut back and for some the ultimate outcome may be the sale of part, or all, of the business.”
“Far from generating additional revenues the long-term impact will be less investment, less jobs and reduced growth, and we strongly suggest that the Government consult and work with the family business community to develop a cohesive plan to ensure the survival of family businesses. It is in the interest of everyone for family businesses to grow and flourish for generations to come and in doing so support the agenda for economic recovery at the same time,” concludes Paul.
A full programme of speakers will take to the stage at the London Palladium on December 16 to share their thoughts around the challenges and the way forward. These include Victorian Vyvyan (Country Land & Business Association), Kate Nicholls (UK Hospitality), Tim Farron MP and numerous representatives from the business community with Kemi Badenoch MP and Leader of the Opposition delivering the closing keynote.
As Olly concludes, “We are delighted to be using the platform that we have created to shout about the challenges being faced by all family businesses. We want the Government to listen and really understand the economic implications of the decisions, as well as the emotional effects that are causing a great deal of distress for many. We want to find a solution that helps achieve the growth agenda but one that helps families in business continue to do what they do best, farm as they have for generations and build multi-generational family businesses that are sustainable for generations to come.”
“It promises to be a powerful event in our ongoing efforts to influence government policy and make sure the true effect of these proposed polices are understood so as not to stifle the growth of businesses and protect the future of our industries”
Book your complimentary tickets to join the event at the London Palladium on Monday December 16 from 12 noon until 3pm here
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