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The billionaire Bamford family has received a £300m payout from JCB ahead of Labour’s tax raid on the rich.
The excavator maker, controlled by Conservative donor Anthony Bamford, 79, and his relatives last year paid the biggest dividend in almost a decade.
Bamford, a prominent Brexiteer, approved the annual accounts just weeks before Labor came to power.
Prepared: Lord Bamford approved JCB accounts weeks before Labor won election
The dividend payment came as Chancellor Rachel Reeves prepares to deliver her first Budget next week in which she is expected to reveal tax rises aimed at the rich.
JCB’s profits rose 43 percent to £620.7 million during 2023 after sales rose 14 percent to £6.5 billion.
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