The Conservative’s proposal to raise the limit the threshold at which inheritance tax is paid from £300,000 to £1,000,000 has been welcomed locally.

Ann Foster from Stafford said:
“This is such a good idea. I have paid tax all my working life. I want to be able to leave my savings to my children without them having to pay still more in tax. Why should they? I am not a wealthy person by any means, but the value of my house would have put me in the bracket of inheritance tax. Under this proposal, I would be OK and not have to worry about it.”

The Conservative proposal would be financed by a flat-rate levy on non-domiciled people living in the UK.

Jeremy Lefroy, Conservative prospective parliamentary candidate for Stafford and Penkridge said:
“This proposal is exactly what is needed. For too long, people have had to put up with this double taxation of their savings. Some people pay advisers to find loopholes to avoid inheritance tax. Most cannot afford to and the taxman takes advantage. Under the Conservative proposals, all this will change.”

Following Chancellor Alistair Darling’s announcement on changes to inheritance tax for couples, during the pre-budget speech on Tuesday, Jeremy Lefroy added:
“Labours plans are more spin. The government has run out of steam, and is making a hash of implementing Conservative policies. The changes in inheritance couples to make allowances transferable are a simplification of existing rules (that can be used with good tax planning) – not a the tax giveaway Mr Darling has packaged them as!”