Loony Labour

[jamesbrown]

Which would be my flesh and blood family, which I've worked myself half to death for, and on that basis I will vote Tory until the day I die.

Sure, as I said, IHT isn't the vehicle I'd choose, as it's insensitive, but the tax system massively favours property wealth as distinct from other assets and earned/unearned income, and it embeds this across generations. As with many other reliefs, IHT includes special provision for property. Whatever form property taxes take, they need to increase relative to other taxes (if not in absolute terms) and with a focus on boosting supply. The problem with stamp duty, for example, is that it reduces supply.

[OwlHoot]

As with many other reliefs, IHT includes special provision for property. Whatever form property taxes take, they need to increase relative to other taxes (if not in absolute terms) and with a focus on boosting supply. ...

Boosting housing supply is absolutely futile, worse than useless in fact, if all it does is give politicians the opportunity to bus in ever more immigrants to take up the slack. We'll be back to square one with even more people deprived of houses they need and even less countryside.

This is what Labour did in the early 2000s, in a failed attempt to "lock in" a new underclass loyally obligated to them (so they hoped, and they actually admitted this), and it's what they would/will undoubtedly do again if given half a chance.

Although Labour have historically been the main culprits, Tories are far from blameless, and all have been constrained to some extent by EU policies and the ridiculous human rights treaty.

[d000hg]

It's not a shock, Labour have always been pro-IHT haven't they? Whether it's nuts is a question of idealism - should money be yours when you die or not - so there are only subjective arguments based on personal viewpoints. I'm anti-IHT myself any imagine most here are also since we're largely quite right-wing.
The IHT allowance is a great idea IF you are pro-IHT as it means you can still pass money on up to quite a large amount.

Note that Tories were trying to put up IHT by another name in the probate sliding scale fees which they have dropped between Budget and GE, but are probably likely to go after.