Press release -
Liberal Democratic Party: Tory Inheritance Tax cut costs £6bn – Cable
Liberal Democrat research has revealed why Tory leader David Cameron was so reluctant to discuss his party’s plans for Inheritance Tax in last week’s leaders’ debate.
The analysis reveals that:
- The Inheritance Tax pledge would cost £6bn over the course of the next Parliament
- It is aimed at the wealthiest 0.8% of estates in the UK
- Every year, 3,000 of the wealthiest estates in the country would each benefit by almost £250,000
Commenting, Liberal Democrat Shadow Chancellor Vince Cable said:
“At a time when the gap between the richest and poorest is so great, it beggars belief that David Cameron wants to give the wealthiest estates a £6bn give away.
“The Tories are showing where their priorities really lie.
“This tax pledge is grossly unfair, only helps the wealthiest households and costs £6bn at a time when the public finances are in a perilous state.
“A vote for David Cameron is not one for fairness and change. It’s a vote for more of the same.
“Only the Liberal Democrats are fully committed to creating a fair tax system. We are the only party that stands for fairness and not division.”
- Politics, general
- shadow chancellor
- vince cable