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Inheritance tax – Might the government reconsider?

The debate over the cost of long-term care and anger over the increase in national insurance contributions has led to a return to the political agenda on the issue of the wealth tax.

One of the most common of these is the inheritance tax. Conservatives have strongly opposed tax increases in recent years, but can they change their minds?

There are two main reasons why the government should consider changing the inheritance tax: the economic reason and the political one.

The government cannot continue to borrow, but it still needs to raise funds to address many of the country’s problems. That is why the Prime Minister broke the policy statement that Kovid was trying to deal with the recession and correct social concern.

There is also a political risk that the Labor Party may benefit more than the Conservatives in taxing wealth. The recent increase in National Insurance contributions, which adversely affects low-wage earners, cannot be satisfied.

A report released by the Committee on Public Accounts in July noted that the potential increase in asset taxes at a certain rate is a significant possibility as the taxpayer is exposed to “significant financial risks for decades to come.”

Can changes in the inheritance tax be the right move?

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