A survey from Family Business UK shows that four out of five family-owned businesses do not believe Labour was honest with voters about its plans for tax rises in the lead-up to the election. Family businesses, which employ 13.9m people and contribute over £200bn in taxes annually, say they may resort to freezing recruitment or liquidating assets if tax breaks are reduced. Neil Davy, chief executive of Family Business UK, has warned that the Government risks "the future of British enterprise" by potentially withdrawing longstanding tax reliefs that facilitate the transfer of business assets without incurring hefty inheritance tax bills
