Labour is planning a “devastating” multi-billion pound inheritance tax raid which could affect farmers and family business.
The party is considering scrapping two exemptions – agricultural and business property relief – that currently allow farms and businesses to be passed down at death without their families paying the divisive 40pc charge.
It is part of a plan to scrap a number of tax reliefs in a “loophole” closing exercise which the party believes could raise as much as £4bn, according to the Times.
On the grounds that I think a bourgeois society is a good society. Let that wealth tumble down the generations. An increasing portion of the population – those who make it themselves and those whi inherit – not reliant upon politics, politicians and the State is a good thing.