John Healey is plotting a raid on family businesses in the coming Budget, putting firms back in Labour's firing line

Family firms face a fresh Budget squeeze, with John Healey reportedly drawing up plans that target them directly. The move comes as business property relief remains a flashpoint for owners hoping to pass firms down the generations. Critics argue the Budget should instead be the moment Labour reverses what they call its biggest business mistake. No details of the measures have yet been confirmed.

The planned raid is still prospective, with nothing set to change until the Budget is delivered.

Supporters of family firms say Healey has a chance to 'undo Labour's biggest business mistake'.