Rishi Sunak could slash 'deeply unfair' inheritance taxes and keep the pension ... trends now
Rishi Sunak could slash inheritance tax and keep the state pension 'triple lock' as he eyes voter-friendly policies ahead of the next election.
The Prime Minister is preparing to announce a raft of long-term decisions at the Conservative Party conference, which starts this weekend.
Changes to tax and pensions are believed to be some of the many topics under discussion – but only if the public finances allow.
Asked yesterday about reports the Prime Minister is planning to reform death duties, Cabinet minister Grant Shapps said inheritance tax was 'punitive' and 'deeply unfair'.
However, he warned that Chancellor Jeremy Hunt was in a 'fiscal straitjacket' due to the state of the public finances.
Rishi Sunak (pictured) is preparing to announce a raft of long-term decisions at the Conservative Party conference, which starts this weekend
Inheritance tax is charged at 40 per cent on estates worth more than £325,000, with an extra £175,000 allowance towards a main residence if it is passed on to children or grandchildren.
A married couple can share their allowance, meaning most parents can pass on £1million to their children without any tax being paid. The figures for the last tax year show just 3.73 per cent of UK deaths resulted in an inheritance tax charge.
However, around a third of people believe that