Monday, 28 December 2009

Inheritance tax

Good to see George Osborne sticking to principle on inheritance tax.

Did we not have such a big budget deficit, I'd suggest scrapping it (a death tax, to me, is unfair anyway) but having just the super-rich pay is certainly keeping it in line with its original aims.

For all that Labour go on about "tax cuts for millionaires", yes perhaps they'll pay less inheritance tax, but a) they already pay a lot more tax at higher rates already, and b) this tax cut means that only millionaires with pay IHT. Not only that, but with real wage inflation, it takes some of the hard working middle classes out of the death tax band altogether.

About time, I say.

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