First Tory budget: giveaways for the obscenely rich, funded by the poor

He should be behind bars.

Apparently Osborne is planning to make it possible for a couple to pass estates worth up to £1 million to their children or grandchildren with a new tax-free allowance that will benefit only around 10 per cent of the population.

He will announce it during the same budget at which he will detail his plans to cut a vital £12 billion from benefits paid to the poorest in the UK.

It seems he is trying to start a class war – setting the rich against the poor.

He should know better.

Perhaps he thinks that Middle England is now so tranquillised by a Tory-supporting press that broadcasts nonsense every day, that he can get away with anything and you won’t notice or understand.

Is he right?

George Osborne is planning to use his first Conservative budget to lift all but the very richest households out of inheritance tax on the same day he sets out billions of pounds in welfare cuts.

The move will allow a couple to pass a house worth up to £1m to their children or grandchildren. The chancellor will create a £175,000, tax-free allowance per person for their main property on top of their existing £325,000 allowance that can be applied to all assets.

His intention to lift all but the wealthiest homeowners out of inheritance tax was first revealed when sensitive Treasury papers were leaked to the Guardian before the last budget, which concluded that it would “most likely benefit high income and wealthier households”.

Source: Inheritance tax giveaway to feature in first Tory budget alongside welfare cuts | UK news | The Guardian

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20 thoughts on “First Tory budget: giveaways for the obscenely rich, funded by the poor

  1. Joan Edington

    “trying to start a class war”? The Tories have been doing that since 2010, in the latest round anyway.

    1. NMac

      More like 1810 Joan. The Tories have always done their level best to divide and rule and, once again, sadly, it has worked.

  2. Mr.Angry

    Well of course he would do, that’s the type of person he is.

    Despite all the experts warning about his hare-brained austerity programme, the idiot still ploughs full-steam ahead, to hell with the consequences or how badly it will affect the worse-off. Is he deaf or just plain illiterate?

    Here again favouring his rich friends, the sooner the masses rise up the better, they won’t last the full term, the heat is rising.

    Everyone to whom I have spoken over the past month is on tenterhooks, awaiting the next blitz from the Tories. I hate giving that name a capital letter T.

  3. hayfords

    It is being funded by tax benefit cuts on pension contributions for earners over £150,000. That is cost neutral and not funded by the poor.

    1. Mike Sivier Post author

      You are again – intentionally? – missing the point. This is a tax break for rich people at the same time as Osborne is launching another major attack on the poor. Nobody said they were directly connected in any way other than being Tory policies.
      They show that Conservatives are determined to rob the poor and give to the rich.

      1. nottoosureaboutthat

        The headline says “giveaways for the obscenely rich, funded by the poor”. It’s not though is it, it’s funded by other rich people

      2. Mike Sivier Post author

        Let us know how much of the giveaway is actually funded by the stated measure – after it has been in place for a while – won’t you?

  4. Jim Round

    “Is he right”
    Yes, unfortunately he is, for reasons discussed several times already.

      1. Jim Round

        Nigh on impossible, I have stated many times that the nation has become irreversibly divided.
        A shameful victory for neo-liberal governments and their media freinds, waged continously over the past 40 odd years.
        Never before has the “first they came for…” verse needed to be listened to VERY carefully, we are sleepwalking into one big trap.
        A much needed revoloution will not happen in my (or your) lifetime.

  5. Rupert Mitchell (@rupert_rrl)

    As much as I despise Osborne’s give-away’s to his kind I have to say that I think it is every man’s dream to leave his family what he has built up during his life. However to increase such allowances whilst failing in his duty to the sick, mentally ill and homeless, is nothing short of common decency and he should be ashamed.

  6. nab (@nab98846993)

    A war between the classes that made me laugh I imagined fisticuffs at dawn Queensbury rules and dressed in old boxing attire, the rich are a bunch of pussies,…… sorry just trying to make light of the arrogance of these psychopaths and yes there will be trouble ahead

  7. misty

    Many welcome the possible new Inheritance tax plans as our children will benefit form our hard work paying mortgages in the South East where property prices are high. and No we are not all millionaires.

      1. misty

        As a totally wheelchair bound, DLA SDA claimant replying 🙂 I am certain you have heard the expression ‘bricks rich, pounds poor’. The aassault on home owners is continuing forecast to accelerate

      2. Mike Sivier Post author

        No, I haven’t heard that expression.
        I think home renters have it worse than owners at the moment.

Comments are closed.