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Old 11-02-2013, 16:20
WindWalker
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Ministers are to abandon the Conservative Party’s flagship pledge to reform Britain’s “unfair” inheritance tax system in a move that will hit four million middle-class Britons.

George Osborne, the Chancellor, will announce that the level at which inheritance tax becomes payable will be frozen at £325,000 until at least 2019 to fund reform of the social care system. The decision will mean that the owners of an average home across much of southern Britain and large areas elsewhere will be liable for inheritance tax. Critics said it was effectively a “double tax” as it was a levy on assets already raided by the taxman and accused the Treasury of “picking people’s pockets”.

Before the election, the Conservatives had pledged to increase the inheritance tax limit to £1 million – with both Mr Osborne and David Cameron saying that the right to pass on untaxed assets was a “most basic human instinct”. Just eight weeks ago, the Chancellor had announced modest increases in the inheritance tax threshold before the next election, but these will now also be abandoned.

The announcement that the threshold will be frozen effectively means that Mr Cameron and Mr Osborne have abandoned their flagship policy, which cannot now be introduced for at least 13 years after it was pledged.


http://www.telegraph.co.uk/finance/p...ax-pledge.html

U turn, back track, change of mind or just lying to get in to power?

Can we believe anything they say anymore?
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Old 11-02-2013, 16:21
gemma-the-husky
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inheritance tax is voluntary.

give your stuff away, and live for 7 years.

no IHT.
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Old 11-02-2013, 16:43
Giddy Green
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We're all in it together
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Old 11-02-2013, 16:45
TardisSteve
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Ministers are to abandon the Conservative Party’s flagship pledge to reform Britain’s “unfair” inheritance tax system in a move that will hit four million middle-class Britons.

George Osborne, the Chancellor, will announce that the level at which inheritance tax becomes payable will be frozen at £325,000 until at least 2019 to fund reform of the social care system. The decision will mean that the owners of an average home across much of southern Britain and large areas elsewhere will be liable for inheritance tax. Critics said it was effectively a “double tax” as it was a levy on assets already raided by the taxman and accused the Treasury of “picking people’s pockets”.

Before the election, the Conservatives had pledged to increase the inheritance tax limit to £1 million – with both Mr Osborne and David Cameron saying that the right to pass on untaxed assets was a “most basic human instinct”. Just eight weeks ago, the Chancellor had announced modest increases in the inheritance tax threshold before the next election, but these will now also be abandoned.

The announcement that the threshold will be frozen effectively means that Mr Cameron and Mr Osborne have abandoned their flagship policy, which cannot now be introduced for at least 13 years after it was pledged.


http://www.telegraph.co.uk/finance/p...ax-pledge.html

U turn, back track, change of mind or just lying to get in to power?

Can we believe anything they say anymore?
this government has made so many u turns i don't think they know if they are coming of going

We're all in it together
the hell we are
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Old 11-02-2013, 17:00
VOICEINTHENIGHT
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Margret Thatcher said 'This lady is not for turning'
This prime minister does more turns than a rollercoaster a marry-go-round and the waltzers put together.
he wouldn't be able to straighten-up-and-fly-right. if his life depended upon it. The trouble is its other peoples lives he messes with.
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Old 11-02-2013, 17:10
kyresa
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this government has made so many u turns i don't think they know if they are coming of going


Seriously!


The news reader on the local radio the other day announced "the latest U turn by this government" !!!

They bang on about referendum this and referendum that! Why can't we have a referendum about whether to keep them in power.
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Old 11-02-2013, 17:11
smudges dad
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I suppose U-turns of this magnitude are so common now, we just don't raise a fuss any more. Still, they'll blame it on the Lib Dems somehow.
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Old 11-02-2013, 17:11
blueisthecolour
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I personally don't think that IHT 'hits' anyone - not in the same way that VAT increases or fuel tax rises impact people's lives. It's a bit like saying that a tax on lottery wins would 'hit' people.

I agree that it's not ideal that a person can't hand over 100% of their assets after they die - but we don't live in an ideal world. In the league table of unfair taxes I'd say that IHT sits a long way down the list.

IMO this is just another example of people in the media increasing opposition to taxes which they have to pay themselves.
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Old 11-02-2013, 17:16
Ethel_Fred
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When the other options are to tax the living more or deal with the various schemes the better off use to minimise IHT what is a desperate - sorry supporter of hard working families - PM to do.
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Old 11-02-2013, 17:20
LostFool
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Margret Thatcher said 'This lady is not for turning'
This prime minister does more turns than a rollercoaster a marry-go-round and the waltzers put together.
he wouldn't be able to straighten-up-and-fly-right. if his life depended upon it. The trouble is its other peoples lives he messes with.
How is he messing with lives when he doesn't do things that people don't want him to?

Surely this announcement, that money is going to be spent on social care rather than a "tax cut for millionaires, should be welcome. Even Andy Burnham in the Commons has welcomed the general principle of the new proposals.
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Old 11-02-2013, 17:26
TardisSteve
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This prime minister does more turns than a rollercoaster a marry-go-round and the waltzers put together.
nice one

he wouldn't be able to straighten-up-and-fly-right. if his life depended upon it. The trouble is its other peoples lives he messes with.
yeah, he dosen't care who gets hurt in the process
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Old 11-02-2013, 17:38
swaydog
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This "pledge" was made in 2007, before the crash and the "before the election" in the OP was before the expected election in 2007 that Gordon Brown bottled on.

Typical Leftie barrel scraping IMO
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Old 11-02-2013, 17:42
barneyboy
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They turn faster than Diana Prince spinning into Wonder Woman.
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Old 11-02-2013, 17:44
Ethel_Fred
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This "pledge" was made in 2007, before the crash and the "before the election" in the OP was before the expected election in 2007 that Gordon Brown bottled on.

Typical Leftie barrel scraping IMO
It was a 2010 manifesto pledge

http://www.theweek.co.uk/politics/51...yed-their-base

and in 2009 senior Tories said they were going to do it after Ken Clarke said it was only an aspiration
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Old 11-02-2013, 17:48
smudges dad
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This "pledge" was made in 2007, before the crash and the "before the election" in the OP was before the expected election in 2007 that Gordon Brown bottled on.

Typical Leftie barrel scraping IMO
You mean typical lefties like the Telegraph?

http://www.telegraph.co.uk/finance/p...ax-pledge.html

David Cameron abandons inheritance tax pledgeMinisters are to abandon the Conservative Party’s flagship pledge to reform Britain’s “unfair” inheritance tax system in a move that will hit four million middle-class Britons.

George Osbornewas credited with reviving the Tory Party's electoral fortunes with the pledge to increase the inheritance tax threshold to £1 million.
George Osborne, the Chancellor, will announce that the level at which inheritance tax becomes payable will be frozen at £325,000 until at least 2019 to fund reform of the social care system.

Before the election, the Conservatives had pledged to increase the inheritance tax limit to £1 million – with both Mr Osborne and David Cameron saying that the right to pass on untaxed assets was a “most basic human instinct”.

The party argued that the policy would benefit four million Britons as inheritance tax would again become a levy only faced by the wealthy.

It was seen as a “totemic” commitment that demonstrated that the Tories were in touch with the concerns of ordinary Britons as people prudent enough to save money for future generations were being protected.

Just eight weeks ago, the Chancellor had announced modest increases in the inheritance tax threshold before the next election, but these will now also be abandoned.

The announcement that the threshold will be frozen effectively means that Mr Cameron and Mr Osborne have abandoned their flagship policy, which cannot now be introduced for at least 13 years after it was pledged.

In his speech to the Tory conference in 2007, Mr Osborne was credited with reviving the party’s electoral fortunes with the pledge to increase the inheritance tax threshold to £1 million.

Mr Osborne said: “When inheritance tax was first introduced it was designed to hit the very rich … Instead, thanks to Gordon Brown, this unfair tax falls increasingly on the aspirations of ordinary people.

However, the symbolic nature of ruling out inheritance tax reform means that the policy may prove costly politically to Mr Osborne
.
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Old 11-02-2013, 17:50
WindWalker
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How is he messing with lives when he doesn't do things that people don't want him to?

Surely this announcement, that money is going to be spent on social care rather than a "tax cut for millionaires, should be welcome. Even Andy Burnham in the Commons has welcomed the general principle of the new proposals.
You would have heard Hunt say that folk should then make financial provision in terms of insurance or pension plans in order to pay for it then.

Slippery slope?
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Old 11-02-2013, 17:52
swaydog
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It was a 2010 manifesto pledge

http://www.theweek.co.uk/politics/51...yed-their-base

and in 2009 senior Tories said they were going to do it after Ken Clarke said it was only an aspiration
& It hasn't been scrapped, it been delayed .
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Old 11-02-2013, 17:53
WindWalker
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This "pledge" was made in 2007, before the crash and the "before the election" in the OP was before the expected election in 2007 that Gordon Brown bottled on.

Typical Leftie barrel scraping IMO
Reported in the Telegraph and posted here to discuss.

What are your thoughts on the number of u turns, mind changing, re-thinks and carefully chosen wording...(in/out referendum)?
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Old 11-02-2013, 17:55
swaydog
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I was referring to the usual lefty posters replies on here.
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Old 11-02-2013, 17:58
smudges dad
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I was referring to the usual lefty posters replies on here.
So the Telegraph agrees with the lefty posters on this one, or do you have some spin to say it's not a U-turn and abandonment of a pledge almost as major as the Lib Dems with the students?
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Old 11-02-2013, 18:00
MARTYM8
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Is that a pre prepared reply?

Because what this means is that the wealthiest estates will end up paying more inheritance tax as the threshold is frozen. Of course the care cap also helps the wealthiest - as at present there is no limit to your care costs if you have multiple homes/cash running into the millions whereas from now on it gets capped.

I have never really got the British obsession with inheritance tax being a bad thing. Surely its better for elderly people to pay less tax/lower care charges when they are alive - than when they are dead.

The gainers are the people who worked/earned the money (retired people paying less tax/care charges) - the losers are their children (generally in their 60s - so no longer kids!) who receive a smaller legacy out of assets/money that was never theirs.
But then its amazing how many people get terribly angry about the taxes 'they' will pay once they are six feet under!
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Old 11-02-2013, 18:00
swaydog
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Reported in the Telegraph and posted here to discuss.

What are your thoughts on the number of u turns, mind changing, re-thinks and carefully chosen wording...(in/out referendum)?
I think they're great
A government that actually listens.
Didn't agree with the U-turn on the hot/cold food .tax though.
I thought we should be against big companies like Greggs, Asda etc. avoiding tax on a technicality.
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Old 11-02-2013, 18:06
mikeyddd
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& It hasn't been scrapped, it been delayed .
So the 2010 manifesto was a manifesto for the 2015 election
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Old 11-02-2013, 18:07
swaydog
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So the Telegraph agrees with the lefty posters on this one, or do you have some spin to say it's not a U-turn and abandonment of a pledge almost as major as the Lib Dems with the students?
The Lefties should be supporting it, but as it's the Tories doing it they are the now siding with the Mail/Telegraph readers to attack it.
Their stupidity is laughable.

The LibDems allowed a vote though in direct opposition to their pledge,The Tories are just delaying theirs.
In defence of both of them, neither won the election so are limited in what parts of their manifesto they can implement.
Another fact the Left cannot seem to understand
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Old 11-02-2013, 18:09
Ethel_Fred
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& It hasn't been scrapped, it been delayed .
Why has it been "delayed"? And when has it been "delayed" until?
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