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Letter to the Media - inheritance threshold - July 2015
I have read with interest the latest proposals from the Conservative Party to raise the threshold for paying inheritance tax and exempting homes valued less than 1 million pounds. 

Although the Liberals Party does not begrudge people earned wealth, these proposal do nothing to address the corrosively increasing and much talked about inequality of wealth in our country.  The top 10% of our society have reputedly accumulated 40% of our nation’s wealth, transferred from generation to generation beyond the visibility of the inheritance systems.

The far sighted traditional constitution of the Liberal Party, unlike the cobbled together Liberal Democratic Party, calls for ‘Liberty, property and security’ for all.  It is the only UK political party to adopt a proposal for the reform of capitalism to bring about genuinely greater equality. 

 Some inherit billions of capital free of tax, due to exemptions from an Inheritance Tax which is charged on what is left or given, while others never inherit any capital at all.

The Liberal Party proposes that the taxation of inheritance should be reformed by reducing Inheritance Tax rates and exemptions while introducing a progressive tax charged on cumulative lifetime totals of what is inherited or received. This in turn would help finance a gradually increasing capital endowment for all UK-born UK citizens at the financially responsible age of 25.

The Liberal Party prides itself on supporting the creation of an opportunity society with the widest benefit for all of society.

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