In this episode, Michael Taylor and William Clouston discuss the Conservative Party’s proposals to abolish inheritance tax.
Inheritance tax is paid at 40% on assets over £325,000. The tax-free threshold is inherited by a surviving spouse and rises to £500,000 if the beneficiary is a child or grandchild, meaning that no tax is paid on the first £1m inherited by direct descendants of a married couple.
Over £7 billion per year is raised through inheritance tax, which is spent on public services.
The Conservative Party are said to be considering abolishing inheritance tax entirely as part of their next general election manifesto. Is it reasonable for parents to expect to build up wealth and pass it on tax-free, or would this simply entrench existing inequalities?
William and Michael explore the practical and ethical problems with this proposal.
Learn more about the SDP at: https://sdp.org.uk/
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#53 – Wednesday Night Fightback 26: Solving the UK housing crisis
#52 – William Clouston's keynote address at the 2023 SDP Conference
#51 – UK Housing Crisis - Causes and Solutions
#50 – SDPtalk with Laura Dodsworth
#49 – Wednesday Night Fightback 25: Is China in a debt crisis?
#48 – Wednesday Night Fightback 24: Of the people, by the people, for the people?
#46 – Wednesday Night Fightback 22: Tory U-turn on North Sea drilling
#45 – Kathleen Stock
#44 – Wednesday Night Fightback 21: UK Public Debt
#43 – Wednesday Night Fightback 20: Family Breakdown
#42 – Wednesday Night Fightback 19: Digitalisation of society
#41 – Toby Green
#40 – Wednesday Night Fightback 18: Inflation and interest rates
#39 – Wednesday Night Fightback 17: The state of the main parties
#38 – Wednesday Night Fightback 16: Universal Basic Income
#37 – Wednesday Night Fightback 15: Global warming? Don't despair - prepare
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