Date published: 2007/08/18
The BBC says:
A Conservative government should abolish inheritance tax because it penalises too many middle-income families, a policy group recommends.
It says rising property prices mean that estates of those "who could not in any sense be described as rich" are now above the £300,000 payment threshold.
Shadow chancellor George Osborne said he would look very closely at the idea.
More shallow ideas from the Tories. If the (arbitrary) £300000 threshold is allegedly too low then just raise the threshold, and keep raising it in line with house prices. (You could even introduce regional variation, but that would be problematic to implement.) The real problem with inheritance tax, which no political party is willing to face up to, is that married people and gay civil partners do not have to pay the tax when their other half dies, and everybody else does. This is fundamentally unfair. Inheritance tax should be abolished for this reason and this reason alone.
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