Tuesday, 24 March 2009

Tory priority is a tax cut for millionaires

David Williams challenges MP on inheritance tax plans

David Williams has today challenged his Tory opponent on whether he supports David Cameron's policy that does nothing for 96 per cent of families. At a time when the Tories have also called for cuts in police, Sure Start, housing and apprenticeships, this shows where their true instincts really lie.

David Williams, Labour’s Parliamentary Candidate for Crewe and Nantwich said:

"The Tories say they want to help ordinary families but their priority during the downturn is to give on average a £200,000 tax cut to 3,000 millionaires. It’s a policy that does nothing for 96 per cent of families in this country.

"They have confirmed that they will be campaigning in the next election on a manifesto which so far has only one definite pledge – an inheritance tax cut for millionaires.

"If the Conservatives meant what they said then they'd drop their tax cuts for the wealthiest estates and support the £145 tax cut that Labour are giving to basic rate taxpayers. My challenge to Mr Timpson is simple - at this tough time does he support an inheritance tax cut for millionaires that will do nothing to help the majority of people in Crewe and Nantwich?"

The vast majority of families in Crewe and Nantwich pay no inheritance tax. From 2010 the inheritance tax allowance will rise to £350,000 per person, or £700,000 for married couples. Below this amount families pay no inheritance tax at all.

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