Exclusively revealed to News, AIM-quoted companies that employ over 120,000 people and generate combined profits of £1.5 billion have written to Rachel Reeves pleading with the government to offer “clear support” for business relief (BR) in order to win back investors’ confidence in the junior exchange of the City.
The letter serves as a thorough warning to Ms. Reeves from hundreds of well-known businesses regarding the implications of recent rumors regarding the elimination of BR for inheritance tax.
It is believed to have been coordinated at Octopus Investments’ request.
Several of the letter’s signatories are reportedly allied with Cavendish, an investment bank that represents around 25% of all AIM-listed businesses.
Arbuthnot Banking Group, Cake Box Holdings, FRP Advisory, Gateley, H&T Group, Marlowe, M&C Saatchi, Mortgage Advice Bureau, Nichols, Revolution Bars, Revolution Beauty, Science in Sport, Staffline, Tasty, Virgin Wines, and Warpaint were among the other supporters of the plea to the chancellor that was sent last month but has not been made public.
