swanning around spouting rubbish
In an interview today Jeremy Hunt described inheritance tax as “pernicious”.“I think it is profoundly anti-Conservative because it stops and disincentivises people from saving for their future.”
Hunt clearly finds it all too much.
The Conservative Party and Hunt lived comfortably with this 'pernicious' tax for fourteen years....now, with just 2 months to go before being cast into oblivion, he makes promises he will never have to deliver.
The man is nuts!
The truth is the Tories could not afford to abolish Inheritance Tax with the current state of public finances. Interestingly, John Major said exactly the same thing in the run up to the 1997 General Election and his lot had 18 eighteen years to abolish it. It is a good sound bite for the Tory faithful but it is, in reality, all froth.
ReplyDeleteWhat do Powell and Dent Coad have to say about it?
Dent Coad can tell you anything she likes. She is not bound by collective responsibility now that she is without a Party.
ReplyDeleteEmma Dent Coad would be in to Inheritance Tax because Jeremy "Marxist" Corbyn believes in it.
DeleteThere is nothing wrong with inheritance taxes but they must be fairer. In the UK the amount that is not taxed ought to be raised each year, or at each five year period. Any tax that is never adjusted for inflation - that effects everyone -
ReplyDeleteis destructive, punitive and deeply unfair.
Disagree...if people choose to save already taxed income in order to benefit their family they should be allowed to. All should be allowed to decide what the do with assets acquired thorough the payment of taxed income.
ReplyDeleteThe very wealthy with umpteen homes can organise their affairs to avoid Inheritance Tax by turning properties that they do not live in, in to Trusts thus taking those property out of the Inheritance Tax calculation.
DeleteThey can also settle money on people under the normal seven year rule. So, the very wealthy never pay Inheritance Tax through clever legal advice and, the very poor do not pay it because they have no wealth to tax.
Inheritance Tax is paid by Middle England by people who own one house or flat with modest savings. Inheritance tax is never paid by the fabulously wealthy who are able to avoid it. This is why the gentry keep their county piles.
IHT is the politics of envy.
Any attempt at a rational debate on the issues of IHT, any attempt to make an argument based on the principle of people ‘paying their fair share’ or any claim that equality as a social good is met with this simple rebuke ‘politics of envy’.
Delete20.48. The "Politics of envy" is a powerful argument against IHT and, the imperfect model of that tax operating in this country.
DeleteSocialists would be better off arguing for the more efficient taxation of large corporations, small businesses and individuals who are not taxed through the PAYE system.
In 2019, there was an estimate by a well known, respected, think tank claiming that £15 billion a year lawfully due to the Exchequer was being improperly avoided by the great and the good of this country who are not paying their "fair share." It is the great and the good of business, commerce and the wealthy who are not on PAYE who are not paying their "fair share" of tax. I will never understand how the "politics of envy" trumps the more efficient taxation argument every time when it comes to raising funds for the Exchequer.
Labour politicians and Marxists would soon change their tune about IHT when the proletariat in red wall areas find that their estates are liable to Inheritance Tax. With the way house prices are going that might be sooner than one thinks!
Boundary Commissioner changes in Hunt's constituency might mean that he is given the order of the boot. He needs a rocket up him.
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