Reply With QuoteThey would need to sign it over at least seven years before requiring state aid otherwise the local authority would call foul.
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How can it be fair that someone who owns a property lets say worth half a million can only leave the same amount inheritance as someone who owns a house worth far less surely people will sign over the property to the children before the government takes it away?
They would need to sign it over at least seven years before requiring state aid otherwise the local authority would call foul.
How has that person gained that house of half a million? It's possible that it's hard work and wealth creation, it may be that they bought a house in London which has exploded in price or it may be that they are a Made In Chelsea type who has inherited it from their parents.
However, this policy for funding increase seems a far harsher line than the (Tory cut) inheritance tax - the wealthy ill paying up while the wealthy healthy not doing so.
They've exhausted the patience of working age people who are now thoroughly cheesed-off with being squeezed so are turning their guns on a new source of cuts and grabs.
Something has to happen in regard to spiralling social care costs and I don't think this Tory policy is unreasonable.
“The government wants families to be able to pass on their home to their children or grandchildren,” she said. “That’s why, in line with the manifesto commitment, we’re reforming the rules to bring down the number of families paying inheritance tax from next year, with nearly 20,000 estates taken out of paying inheritance tax from April 2020 alone.
“Under the new system families will have a new £175,000 inheritance tax allowance for their home on top of the existing £325,000 threshold.”Two Guardian quotes from earlier in 2017, although this change in policy does not directly contradict the first quote as children will still inherit property. I wonder if it's as simple as the money lost to raising inheritance tax allowance has now been found with this change in policy? If that is the case then it has not satisfied the need for additional funding.It was George Osborne who was behind the deeply flawed plan, to be implemented by 2020, to cut inheritance tax (IHT) to let a couple in a £1m home avoid paying a penny in death duties. The plan would cost an estimated £1bn, and the former chancellor promised to gradually lift the IHT threshold from its current £325,000 per person to £500,000. The phased changes of this iniquitous and ill-conceived plan are due to start in April. It is a tax break for a wealthy elite, at a time when the NHS faces a cash crisis and the government is moving to cut £3.7bn in disability benefits from the most vulnerable in society.
Send them to the vet.Originally Posted by Pearcey3
The Tories are proposing a new means-test for care and another for Winter Fuel Payment, and they're being very reticent about what threshold they'll use for the latter which likely portends it'll be very low thereby ensuring a large majority will become ineligible because of a secondary pension taking them over the limit.
Lib Dems have proposed the same policy and, I believe, given details of where the cap will land. Tories can only say "trust us but don't ask questions".
Andrew Marr asking this morning how the Tories could carefully "cost" the labour manifesto but give no costings of their own was finally an example of journalism with the conservative party. Compare to Preston laughing when Boris claimed that the £350 million pledge was in their manifesto/said at the launch.....It wasn't.
Yeah, I saw Marr quizzing him. He kept squirming while repeating some baloney about a consultation. And as you say, they pore over the costings for Labour policies while being coy with their own.
politics has gone mad. we have labour complaining about a Tory policy that targets the wealthiest....
I agree with pearcey in that I don't think the policy is completely unfair but I wouldn't say this policy targets 'the wealthiest'.
Labour are just being opportunistic.
When people say 'i want to leave money/my house to my kids' it prompts visions of orphans on the street because the government stole it all. The reality is that we are talking about people who are 45-60 years old on average inheriting a bundle of money that they don't really need because they have already built their life.
The benefit is claimed by some very famous aging rock stars and film stars.
That's how aristocracy worked for centuries! Now the proles are starting to get wealthier, it's time to keep them in their box as best as possible.
There lies the truth ,how do we afford this people growing older needing more care , that puts pressure on beds , people don't want to pay more , currently the care is free up to £23k isn't i, as I read it they can now have it up to £100 however there is a pay back as the children of the houses they inherit will have give up some dosh , however there are tow areas where the house price medians are below £100k ??
I don't' know the answer answer but its not an easy one as this isn't the only pull on the public purse we have education , policing NHS ,benefits , I guess that why other countries have set up insurance policy , as its not affordable all this surely cannot all be free or funded by the public purse or taxing the elite and businesses ;
Remove benefit caps yes or no
University tuition fee's free yes or no
Winter Fuel free to all yes or no
NHS free to all yes or no
Child Care free to all yes or no
School meals free to all yes or no
Free buss passes free to all yes or no
TV Licensing free to all yes or no
Prescriptions in wales free to all yes or no
Parking at NHS Hospitales free to all yes or no
Free bridge tolls into wales yes or no
Nationalising Rail , Energy ,Royal Mai and beyond yes or no
Education funded
Policing funded
Public services funded .
I'm sure I've missed a few subsidies or funded areas, and ,sorry I cant work it out anymore,never mind anyone's political views ,the burden is high in this country and a balance is required.
I am not even sure I am in favour of fee free university as it might encourage people to go who aren't completely committed to the idea but to say 'the country can't afford to pay for it' is just rubbish.
The British people pay for it one way or another, there is no other source of money but us generating it. It either comes from students in the future if they earn more than the threshold or from taxpayers in the future if they don't.
Big business appear to set the agenda these days, to the point where everyday folk sit online and do their bidding for them, 'oh they will all leave if we don't give them what they want'. I am bored of this, I hope others are too. Businesses need their customers as much as employees need the businesses they work for, if everyone stuck together whilst expecting everyone (individuals and businesses) to follow fair and reasonable rules then this country would be a better place.
Some have a free pass to 'pull a starbucks' but the majority don't.
Other countries have all of these things and more, why don't believe it that we have to have shit public services
The world has moved on form the era where we could fund and are care adequately there are so many more millions living in the UK living longer and contracting long term health care , its not just a thermometer under the tongue now and advised plenty of fresh air and tea , its multi billion support mechanism and drugs and those administering those things rightly wanting good wages , to one fact that always blows my mind the NHS is the 5th biggest organisation in the world , you got some parties saying that enough don't allow anymore in as its straining our public services and others saying no its not a society we recognise , of course we can afford this, well for how long I would ask , this is a race to the bottom ,which once we were are in their we will be buggered then we will see real cost impacts and inflation .
People on their death beds will be kept alive as long as possible through intensive care and other methods. The longer they have you alive in care the more of your hard earned money they can grab
Tory bastards
No matter how much Theresa May tries to dress this up it is an embarrassing u turn. Credit to her for trying to tackle the issue but a big thumbs down for the way it has been handled.
No doubt something needs to be done & it will be very interesting to see how this pans out. There has been talk of a possible insurance policy solution today which may appeal to some as long as the premiums are sensible but apparently insurers are reluctant to create a suitable product.
Yes a poor moment , best to put your hands up I guess ,there has been a few of these , no tuition fees Clegg and Blair , Gordon's 10 tax ,tax credits Cameron, think politics is littered with them,as you say a subject matter that has deep issues,think most folk realise its go to be funded
Surely, unless a cap is set at a percentage of assets then it will just serve the richest and a big f u to everyone else.
What about those people who have worked hard, paid their fair share of taxes & led prudent lives in order to build up a decent level of assets for a comfortable retirement & something to pass onto their children?
It's no more than a crude bribe to win student votes which goes hand in hand with their campaign to get people to register to vote. If Corbyn does win power I can't see him back-tracking on the pledge but what I can see is a lot of scrambling around to pay for it.
Anyone watching bbc1?
Christ Andrew Neil is giving it to Theresa May fair play.
Not in that way you mucky lot....
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