Billionaire Bamford family takes £300m JCB dividend
The billionaire Bamford family has taken a £300m payout from JCB before Labour’s tax raid on the wealthy.
The digger maker, controlled by Tory donor Anthony Bamford, 79, and his relatives paid out the biggest dividend in nearly a decade last year.
Bamford, a prominent Brexiteer, signed off the annual accounts just weeks before Labour swept to power.
Prepared: Lord Bamford signed off the JCB accounts weeks before Labour won the election
The payment of the dividend emerged as Chancellor Rachel Reeves prepares to deliver her first Budget next week in which she is expected to unveil tax hikes targeted at the wealthy.
JCB profits surged 43 per cent to £620.7m during 2023 after sales rose 14 per cent to £6.5billion.
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