Tax rises totalling £40 billion imposed by the Labour Government in Rachel Reeves’ budget came under fire at a meeting of the Skegness group of the Conservative Policy Forum.

The group called for the complete abolition of inheritance tax, a fairer system of business rates to include a level playing field for town centre and online businesses, reversal of the changes to Employers’ National Insurance Contributions and cancellation of the imposition of VAT on private schools.

The group called for:

* The reintroduction of “Super Deductions” on capital allowances.

* Maintaining current levels of Business Asset Disposal Relief.

* Raising the lifetime limit for Investors’ Relief.

* Special tax relief for industries essential for the nation’s security e.g. producers of food, energy steel and defence equipment.

* An increased Employment Allowance, allowing small business to reduce their National Insurance liability.

*A higher threshold before Employers’ NICs become payable.

The group also supported NIC relief for charities, with the condition that there should be greater oversight of the sector. Members are concerned that too much money donated to charities goes to meet admin and executive pay. They suggested that a minimum percentage of the money raised should have to go directly to the causes that charities support.

To help pay for the tax cuts it has proposed, the group suggested the abolition of many of the hundreds of unaccountable QUANGOs