Inheritance tax cut

Inheritance Tax Cut

Chancellor Jeremy Hunt is set to deliver the next budget on 6 March, and there are reports suggesting that he could slash the controversial inheritance tax. This move has sparked accusations of a "desperate" briefing by Sunak, as the date of the budget approaches. Inheritance tax has long been a contentious issue, with critics arguing that it places an unfair burden on families.

An inheritance tax cut would be welcomed by many, as it could potentially alleviate the financial strain on grieving families. The current inheritance tax threshold stands at £325,000, and anything above this amount is subject to a 40% tax. This has led to concerns that individuals are being penalized for passing on their hard-earned wealth to their loved ones.

If the inheritance tax is indeed reduced, it could provide a much-needed boost to the economy. By allowing families to retain more of their inheritance, they would have additional funds to invest or spend, stimulating economic growth. However, critics argue that such a move would only benefit the wealthy, widening the wealth gap in society.