Kemi Badenoch works on shadow cabinet appointment
David Lammy, the foreign secretary, has said the concept of reparations for former British colonies affected by slavery should not be about cash payments.
Speaking to the BBC in Nigeria, where he is starting a tour of African countries, he said the reparations concept “is not about the transfer of cash”.
It beggars belief that Labour proudly boasts of trying to attract foreign investment, while at the same time eviscerating homegrown businesses. [Chancellor Rachel] Reeves killing off business property relief (originally introduced by a Labour government in 1976 and reinforced by the Brown government with entrepreneurs’ relief) means that British families are landed with an unpayable tax bill every time an owner dies.
Yet companies operating here but owned by overseas families won’t have to pay Labour’s tax. Private equity-owned firms won’t pay. Public companies listed on stock markets won’t pay. No, it is just homegrown, British family companies that will pay. This is a tragedy.
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