Brown and Balls are lying when they say the Tories IHT policy won't help anyone who earns less than the average wage. I am a divorced single mother with two sons. I work 30 hours a week in the public sector and earn rather less than the average wage. I live in the South East.
13 years ago, following my divorce I bought a relatively cheap (for my area) ex-local authority house and have 'gone without' in order to pay off the mortgage. At that time, the house cost substantially less than the IHT threshold. Now, thanks to Gordon Brown's debt-based housing inflation, the value of my house alone takes me over the current IHT threshold. It's the same property (plus minor improvements). So 13 years ago, on the strength of my house, I was classified as relatively poor and under the IHT threshold. Now, as far as Labour is concerned, living in the same property, I am considered wealthy.
Because I'm single, I can't divide the value between two individuals as Labour proposes. That means, if I meet an untimely end, my sons will have to pay IHT on the strength of their home and some money I recently inherited.
Since when has a divorced single mother, living in an ex local authority house and working in the public sector been considered appropriate to pay IHT? Since Labour came to power and inflated the housing market.
Comment from here.
Every one a winner, Balls. Keep it up.
she has a job therefor she is by Browns definition a rich Tory landowner and should pay more than everyone else.
ReplyDeleteSorry, love - by (their) definition, you're a bloated plutocrat.
ReplyDeleteI hope it doesn't hurt too much when the pips squeak.
Bastards, all of them. Time to get them out.