The billionaire Bamford family have received a £300m payout from JCB ahead of Labour’s tax attack on the rich.
The excavator maker, controlled by Tory donor Anthony Bamford, 79, and his relatives paid its biggest dividend in almost a decade last year.
Bamford, a prominent Brexiteer, signed the accounts just weeks before Labor came to power.
Prepared: Lord Bamford signed off the JCB accounts weeks before Labor won the election
The dividend payout emerged as Chancellor Rachel Reeves prepares to deliver her first budget next week, in which she is expected to unveil tax increases aimed at the wealthy.
JCB’s profits rose 43 per cent to £620.7m in 2023 after sales rose 14 per cent to £6.5bn.
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