There is an argument about inheritance tax although very few people will ever even pay it.
A mere 6% of families pays inheritance tax. The tax is 40% on the balance of inheritances above a £300,000 tax-free threshold. Most of the 6% are to be found in London and the south east of England. Inherited wealth should be taxed and the money used to improve public services, thats fair.
The Tories want to raise the threshold from £300,000 to £1 million.
That means they would share one billion pounds between the richest 9,000 families in the country.
And we know that essential public services would wind up being cut to support the Tories' wealthy pals in London and the South East.
There are 19 millionaires on the Tory front bench alone !
Unfairness is built into the Tory attitude and nothing much changes.
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The Tories - still the party of the rich ? Yes, and here's the proof.
@ 13/04/2009 – 15:17:15
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