bloomberg – Prime Minister Rishi Sunak’s government is in talks about abolishing inheritance tax in the UK before the next general electionThe newspaper reported, without saying how it obtained the information.
The newspaper said late Friday that there was “lively” discussion among senior government officials about scrapping the unpopular tax next year.
The Telegraph, citing the newspaper’s report, said neither Sunak’s office nor the Treasury had denied that such talks were taking place when the newspaper sought comment.
The worsening economic situation in the United Kingdom has increased pressure on Sunak’s government to offer stimulus before the election to boost the poor showing of his Conservative Party. A national vote must take place before January 2025.
Bloomberg News reported in April that the prime minister was considering cutting inheritance tax.
An Ipsos poll published on Friday showed that 47% of people surveyed would vote for the opposition Labor Party in the next election, while only 25% said they intended to vote for the Conservatives. Ipsos polled 1,033 British adults between 14 and 20 June.
Inheritance tax affects a relatively small number of higher value estates. Their incomes tend towards wealthier families in the Conservative heartland of southern England, so a move to cut or end the tax could boost the Tories’ electoral base.
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