There is no hole deep enough that a Conservative minister cannot muster the spadework to excavate it to even greater depths. No sooner had Kwasi Kwarteng announced that he was dropping his proposed reduction in the upper rate of income tax, than Andrew Griffith, one of his ministers at the Treasury, declared that he would like to see inheritance tax abolished. ‘I have lots of my fantastic local association [members] with me here and they will know because they asked me at my selection meeting 27 months ago which tax, if I had the choice, I would most like to see eliminated. History will record it was inheritance tax, ’he told Conservative party conference.
Far from abolishing inheritance tax, the Conservatives should be increasing it
Dropping the 45 pence tax rate to 40 pence was at least the right policy, albeit at the wrong time – it was politically explosive at a moment when you are demanding that workers make do with below-inflation pay rises.
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