Steve Perez Pulls the Plug on a £20 Million UK Dream
Steve Perez – the hotel magnate who once turned peak‑altitude inns into “bed‑and‑breakfast” sensations – has decided to abandon a £20 million investment in the United Kingdom. The move follows the Labour Party’s Autumn Budget, which shook up the country’s inheritance tax rules.
The “What’s Up, Blog?” Airmode
- Steve topped the list of people making large investment plans before the budget came out.
- The budget added a 20 % inheritance tax bite to properties valued over £1 million as of April 2026.
- Without that tweak, the business could have expanded: two dozen extra rooms, a spa at Peak Edge, and a new cannery line that would have added 50 jobs in Derbyshire.
- Instead, the emperor has traded his “plan” for a “big, warm, very unwise” pause.
Inheritance Tax: A “Job Security” Nightmare
“When I pass on the business and the future staff are left hanging in the wind – it’s a nightmare, not a promise of safety,” Perez told the Telegraph. He framed the tax overhaul as the exact kind of corporate villain that stripped workers of their safety net.
His key points:
- Inherits tax changes look like a direct threat to the livelihoods of employees once the owner is gone.
- Without these changes, a business can be handed down to family members “tax‑clean.”
- Now, a property over £1 million gets hit with a hefty 20 % tax on its value.
“Anti‑Entrepreneurs”? A Heated Rant
Steve didn’t hold back. He called the budget “anti‑entrepreneur” and “anti‑business” and slammed it as “crazy.” He said that to keep going would be a mistake. “It would be insane,” he said. “That’s why I stopped the works.”
HM Treasury Fights Back
The Treasury might try to defend the move, citing problems with public services and a “£22 bn fiscal black hole” from the previous administration. Their explanation claims that the tax shift was a necessary step to re‑anchor the economy, gives more money to the NHS, and protects workers’ pay slips from even bigger tax hikes.
They also claimed that making these changes would reduce the National Insurance burden for more than half of employers.
Wrap‑Up: The Future is Uncertain, but the Soundtrack is Still Full of Humor
Steve Perez’s bold move might feel like a cliff‑hanger. Will the expansion plans re‑ignite when the tax rules are clarified? Does the Treasury’s rationale hold up under scrutiny? Either way, it’s clear that the UK is in the midst of a bizarre, high‑stakes drama – and no one’s turning the page so easily.
