\n Speaking in Parliament, Mr Brickell criticised Conservative calls to scrap the tax, arguing the move would primarily benefit the wealthiest estates while reducing money available for public services.\n<\/p>\n
\n The Labour MP said very few families in his constituency would be affected by inheritance tax under the current system.\n<\/p>\n
\n He told the House of Commons: “At the last general election, fewer than one per cent of estates in my Bolton West constituency<\/a> were expected to fall within the inheritance tax threshold.\n<\/p>\n \n “So I have to ask, on behalf of my hard-working constituents, who exactly are the official opposition speaking to with this proposal?”\n<\/p>\n \n Inheritance tax is currently charged on estates above certain thresholds, with exemptions and reliefs available in some circumstances.\n<\/p>\n \n Mr Brickell argued that abolishing the tax in its entirety would primarily benefit the wealthiest estates while creating a significant gap in public finances.\n<\/p>\n \n He said: “The Conservatives are proposing to abolish a progressive redistributive tax in its entirety at a potential cost of \u00a310.8 billion a year to benefit a small minority of the very wealthiest<\/a> estates.”\n<\/p>\n \n The MP stressed that he supported people being able to pass wealth and assets on to their children but questioned whether scrapping inheritance tax should be a national priority.\n<\/p>\n \n He said: “I have no objection to people wanting to pass something on to their children.\n<\/p>\n \n “It is a natural and valuable part of being a parent.\n<\/p>\n \n “But the question before us today is not whether families should be able to pass on their hard-earned assets fairly.\n<\/p>\n \n “It is whether the right priority for this country is to abolish inheritance tax altogether, regardless of the cost.”\n<\/p>\n \n During the debate, Mr Brickell<\/a> repeatedly linked the proposal to everyday financial pressures facing residents across his constituency.\n<\/p>\n \n He said the policy would not help “the small business owner struggling with rising costs in Westhoughton<\/a>“, “the single mum in Horwich<\/a>“, “the pensioner in Blackrod worried about energy bills” or “the young person in Bolton trying to get on the first rung of the housing ladder”.\n<\/p>\n \n Posting after the debate, Mr Brickell described the proposal as “despicable” and said the threshold was “rightly set so the very wealthiest pay their fair share”.\n<\/p>\n \n He added: “As usual, this is socialism for the rich, and cuts for everyone else.”<\/p>\n","protected":false},"excerpt":{"rendered":"Speaking in Parliament, Mr Brickell criticised Conservative calls to scrap the tax, arguing the move would primarily benefit…\n","protected":false},"author":2,"featured_media":806771,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[84,4176,4174,4175,56,54,55],"class_list":["post-806770","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-finance","tag-personal-finance","tag-personalfinance","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/806770","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=806770"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/806770\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/806771"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=806770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=806770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=806770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}