Instead of subsidising childcare, say, or free school lunches, the Tories indulge the greediest and wealthiest
Expect soon, Labour campaigns slating Sunak for not caring about the people. They could point to the evidence all around us. Official figures. A record number of our citizens are dependent on food banks.
Teachers are feeding and clothing kids in their schools. It should be obvious to any sentient Briton that inheritance tax abolition would confirm beyond doubt that these Tories really don’t give a damn about the neediest, or, indeed the middle classes, now also struggling. Instead of subsidising childcare, say, or free school lunches, they indulge the greediest and wealthiest. OK, these are, you might think, the biased views of an ardent social democrat. So why I don’t I consider the counter-arguments?: “Sweden and Norway, often considered beacons of social democracy and equality, have abolished their inheritance taxes entirely… Looked at from the perspective of the recipient generation, inheritances appear random, unjust, an obvious basis for taxation. Looked at from the perspective of the bequeathing generation, though, bequests appear simply as an exercise in property rights. I have earned, and paid my taxes, and saved; it is my right to dispose of my assets as I see fit, and in particular to support my children. Few human emotions run deeper.” He advocates a graduated tax on gifts worth between £30,000 and £2m.that getting rid of inheritance tax “would even make the UK a more attractive place for the world’s wealthy to base themselves, bringing custom to UK businesses, shops and services. Sweden abolished [such taxes] in 2004 and many wealthy Swedish families who had moved out of Sweden due to its high taxes have now returned.” They come, spend and live the high life. How does that help make this country fair again? And also, citizens of Sweden uncomplainingly pay income taxes of up to 52 per cent. Would you be prepared to pay that here? I’m not convinced by either of them. Labour peer Joan Bakewell’s tweet makes far more sense: “Inheritance tax is good for society: it reduces inequality and promotes the idea that money goes to those who have earned it.” Resist Sunak’s cynical moves. Tax the successors of the very rich.
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