Business bosses have turned on Chancellor Rachel Reeves for waging 'war on aspiration' and killing economic growth with taxes.

Billionaire Sir James Dyson, in a blistering attack on Labour, yesterday accused the Government of being 'out to destroy' and punish wealth and job creators.

He added: 'There is a war on aspiration and it's time we fought back.'

John Roberts, boss of white goods retailer AO World, also criticised the Chancellor's policies, including her controversial National Insurance hike, saying they are 'not a growth engine'.

The attacks come as Ms Reeves reportedly weighs up a U-turn on her axing of the non-dom tax status in a bid to halt an exodus of Britain's wealthiest residents. And they follow a report from the Confederation of British Industry (CBI) that the economy will 'muddle through' this year and next.