I don't think inheritance tax is a bad idea. Its certainly a populist idea for middle england. I think Will Hutton makes a good case for the importance of inheritance tax. I'm not sure its good news the way every politician has jumped on the inheritance tax is bad bandwagon. Increasingly we are devoid of any moral mainline politicians, who will answer questions clearly and properly. Gordon Brown has done nothing to convince - today's PMQ being a case in point. I must say neither has Cameron.
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October 10, 2007
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I agree that neither Brown nor Cameron are all that inspiring, but I'm not in favour of inheritance tax, it just seems a bit unfair.
I mean, the person who leaves the inheritance will have already paid tax on it when they earned it (at least 22%), plus whoever inherits it will pay 17.5% further tax through VAT when they spend it.
It seems a bit excessive to tax it again when it's passed on to descendants.
Posted by: Steven Harris | October 10, 2007 at 05:34 PM