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Oh FFS, inheritance tax has been around for decades, yes, under the Tories as well. So has capital gains tax. I bloody know, because both my father and mother worked in the Inland Revenue's Estate Duty Office in the '70s and '80s. I'd also remind you that it was the Tories who claimed to be the tax cutting party that DID cut income tax (i.e. tax related to your ability to pay), but moved the burden to indirect taxes like VAT (which massively increased during the last Conservative administration, and which hit people harder the less well off they were). Just remember that when you whinge about "stealth taxes". And remember that following their election in 79, the Tories increased the burdxen of taxation from 34% to 37% of our GDP. Now, I certainly don't like all of Labour's tax policies, but I know exactly what the Tories' "we'll save money by being more efficient" promises actually mean, because I saw the utter havoc of high interest rates, boom/bust economic performance and public service cuts that they led to. It makes me laugh when I see people argue "Things woz better under Maggie"; well if you consider tripling the rate of unemployment, wrecking the manufacturing sector and slashing public services "better", then I suppose so, yes. Look at the NHS; who remembers that organizational Charge of the Light Brigade that was the "internal market"? "How do we improve patient services, then? I know; we'll triple the number of administrators and cut 50,000 beds! Bonzer!"
And I'd further point out that to most people, £700,000 is not just a "bit of cash", it's a bloody fortune. And even after tax, that's what your family will end up with.
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Originally Posted by Firebar
