According to her ghastly nephew, Ludo, the Dame is 'well-loaded' and he cannot wait for her to 'shuffle off this mortal coil' to attach himself to her vast fortune.
Reeves
Talking of wealth....in an interview today, Rachel Reeves, the shadow chancellor made these comments on any form of wealth tax: “We won’t be doing that. It’s a denial.”A Labour source said the denial also applied to “any form of ‘mansion tax’”, which has also been discussed by Labour in recent years.
This declaration by Reeves is clear-cut. She goes on to say that her government will work with businesses to grow the economy competing with France to lure inward investment.
It looks as if a Conservative government is having its clothes nicked!
Many of Felicity Buchan's constituents have seen the value of their properties increase through inflation. In its 13 years of misrule, no real attempt has been made to lessen the burden of IHT.
It is time Felicity made her position clear on this unfair form of double taxation.
The Dame was recently at a dinner with a young Conservative MP. She tackled him over the iniquity of IHT.
He replied the Government would lift the allowance to £1.5m.
It has taken the prospect of a GE defeat to squeeze this long-overdue concession.
PS it seems the holidays are over....nearly 1500 views yesterday!
I think the Tory MP with whom the Dame dined must have been on something. If the Tory Government is going to raise the IHT threshold to £1.5 million, why hasn't it made such an announcement already in an attempt to change the dreadful political narrative in the news.
ReplyDeleteTax rates are the prerogative of the chancellor. It is unlikely that any Tory MP would know of such a matter and only a fool would impart it whilst dining.
In the case of a married couple, the IHT threshold can be as much as £900,000. This is achieved by transferring any unused nil rate band to the surviving partner of a marriage and by claiming the increase in threshold applicable to leaving a property to a child.
Before I am accused of being a leftist, I don't like Inheritance Tax - it ruined me many years ago.
The answer to your question is simple. Why announce it now? This is pre-GE ammunition. It would be like firing at your opponent before they come in to range. Better to keep powder dry. The MP concerned is no fool and 'intimated' that is the likely level so you will just have to wait and see.
Delete10.46 here.
DeleteSounds like it is an "aspiration" rather than a definite policy proposal. That is all that it can be at this stage. It is not a policy measure until the fat lady sings. Just like it was an "aspiration" of John Major's Tory Party in 1996 to abolish Inheritance Tax. However, the "aspiration" did translate in to a Tory manifesto commitment in the 1997 General Election campaign but the Tories lost the election back then so it never saw the light of day.
I remember the 1997 proposal very well because I paid a fortune in inheritance tax in early 1997 when my partner died. In those days the survivor in a gay relationship was taxed on the same basis as an inheriting son when their partner died. I worked with some homophobic people back then and remember the outrage they expressed at the unfairness of it. Thirteen years of Tory rule since 2010 and they have done nothing about IHT since then.
10:46 The Dame is pretty shrewd....her contacts second to one. I very much doubt her MP friend is wrong on this one. The Daily Telegraph campaign to abolish IHT has been well run and I suspect that has forced the Parliamentary Party to press Hunt hard.
DeleteCan you imagine what Jeremy Corbyn would have done about Inheritance Tax if he had won in 2019?
DeleteEmma Dent Coad opposed the Mansion Tax but would she have opposed punitive Inheritance Tax measures if Comrade Corbyn wanted to impose them to reduce National Debt or to reduce the deficit?
The evidence suggests that she would have backed Corbyn on anything come hell or high water.
Emma appeared to be very pro- European but many questioned her public declarations on Europe. She sucked up to Corbyn on everything and as far as I am aware she was the only Pro European MP that was not endorsed by the European Movement. Saying one thing publicly and taking a different line to keep faith with Corbyn in private was her hallmark.
Nadine Dorries attacked the PM claiming his ineptitude could cost 200 fellow MP's their 'livelihoods'. Most of us felt that politics was a vocation rather than a 'job for life livelihood'. How this foolish woman ever got to Parliament is a great mystery of our times.
ReplyDeleteThe Bank of England’s unwinding of its multi billion-pound bond portfolio is comparable to former Chancellor of the Exchequer Gordon Brown’s infamous decision to “sell gold at the bottom of the market” from 1999 to 2002, the asset manager Columbia Threadneedle said.
ReplyDeleteRising interest rates have turned what was once a money-spinner for the government, as the bonds were profitable in a time of low interest rates, into a drain on its finances. The bank now expects losses on the program of around £250 billion over the coming years, leaving taxpayers nursing a net loss of more than £100 billion.
BOE’s QT Program Likened to Gold Sales at Bottom of the Market https://www.bnnbloomberg.ca/boe-s-qt-program-likened-to-gold-sales-at-bottom-of-the-market-1.1970369
Utterly atrocious mismanagement of our finances!