Inheritance tax relief exposes the Conservative party’s true agenda
|
Version 0 of 1. I was appalled by David Cameron’s proposal to waive inheritance tax on properties worth up to £1m (Report, 13 April), and also by the way he portrayed paying tax as akin to being robbed (“the taxman will not get his hands on it”). Tax receipts are what pay for vital public services such as education, healthcare, policing and transport infrastructure, to name but a few. Apart from the proposal not making any sense in relation to the recent narrative of public-sector deficit, austerity and “we’re all in it together”, it is also nothing other than a cynical bribe to the affluent. I was an NHS consultant and, yes, I worked hard, but I don’t kid myself that hard work and saving are the reason our home has quintupled in price since 1997. This proposal will entrench privilege and inequality. The idea of society surely means that you care a bit about what happens to other people, not just your own children. Children from affluent families usually get “the best education money can buy”, benefit from influence and contacts when it comes to getting internships (even buying them at a Westminster School promises auction, 22 May 2013), and are able to afford to work unpaid while living for free in their parents’ homes. Now they are to inherit more money tax-free as well, if the Tories are elected. It is very clear that Conservatives want to load the dice well and truly in favour of those who already have.Dr Crystal RomillyLondon • I and my siblings have recently paid an inheritance tax (IHT) bill of £172,000 following the recent deaths of my parents. The principal reason for the charge was the increase in value of their home in the northern home counties. Purchased for £49,500 in 1977, this house has just been sold for slightly under £800,000. Yet I do not think it is unreasonable for IHT to be charged in these circumstances. After all, the major reasons behind the increase in the value of their home were the construction of the M25 in the 80s and the upgrading of rail links to London in the early 2000s, as well as the excellent schools in the Watford area. So why should not a part of the capital gain in these circumstances go back to the public purse which funded these improvements in the first place? The Tory manifesto pledge on IHT at a time of financial stringency reinforces the impression of the party being focused on the selfish rich. The Lib Dems were quite right to block the rise in the IHT threshold in the last parliament and prioritise raising the income tax threshold instead.Richard PyneLondon • Two days before David Cameron announced the Tory plan to end inheritance tax for homes up to the value of £1m, my family sold my father’s bungalow in order to fund his residential care fees. In announcing this policy, George Osborne, with the support of Cameron said, “It is a basic human instinct to provide for your children.” He went on to say “We believe your home … should belong to you and your family, not the tax man.” Cameron should tell this to my 94-year-old working-class father, who – like so many others of his class – worked hard all of his working life and became the first in his generation to buy his own home. My dad and, before she recently died, my mum, prided themselves on being able to pass on their property to benefit their children and grandchildren. So what do you say now, Mr Osborne and Mr Cameron?Sue TaltonLeicester • Since when were basic, human and natural instincts good bases for government policies? What other basic instincts might raise their heads? Greed? And in the case of parents will it be OK for those feeling the squeeze of benefit cuts to take to shoplifting to feed their kids?Penelope PutzNewton Abbot, Devon • For a really radical change to inheritance tax, what would happen if the tax rate was increased progressively to 100%? So, for example: 25% over £500K; 50% over £5m; 100% over £250m? Does anyone actually need a billion pounds?Frances BlomeleyHereford • David Cameron delivered a speech in Cheltenham on 12 April announcing his pledge to remove homes valued at up to £1m from inheritance tax. He delivered the speech at St Luke’s church hall. Cheltenham Open Door is a charity that works for the homeless in town. At Christmas the hall is used by the charity to deliver lunches and give out sleeping bags, fresh clothes etc. The volunteers have been serving up Christmas dinner for 22 years. This is so insulting – the hall where the homeless are welcomed, Cameron uses for his campaign event.Emma Larkman Gloucester • Bedroom tax = encouraging people to move out of homes that are slightly too big for them. Inheritance tax relief = encouraging people to stay in homes that are too big for them. We’re all in it together.John HancockBristol |