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Inheritance tax proposal would cut expected revenue by half by 2030-31

The plan targets a reduction of income from inheritance tax, with forecasts placing the potential take at £15bn by 2030-31 if kept in place.

Reported · Written up by our desk · Europe

Guardian Economics says Kemi Badenoch’s inheritance tax proposal would wipe out half of the revenue from inheritance tax that is predicted to reach the treasury by 2030-31.

The outlet also frames the proposal as shifting taxpayer money toward already wealthy beneficiaries, calling it an inheritance tax approach associated with past Conservative promises.

Guardian Economics notes that a similar pledge by George Osborne in 2007, to remove the family home from inheritance tax, helped shape political timing at the time.

It adds that Osborne’s original plan included a £1 million threshold, but that the proposal did not move forward after the global financial crisis left public finances weaker by 2010.

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