MP in call for Inheritance Tax Debate
8th February 2007
Speaking in the House of Commons yesterday, Hemel MP Mike Penning called on the Government to permit a debate on the "nasty and abhorrent inheritance tax".
Mike Penning (Hemel Hempstead) (Con): May we have a debate in Government time, as soon as possible, on the nasty and abhorrent inheritance tax? This week, I was visited by a constituent who bought his council house under the right to buy but, sadly, worries that current property prices mean that when he dies he will not be able to hand it over to his loved ones because inheritance tax thresholds have not risen with inflation.
Mr. Straw: There will be an opportunity to debate that when we come to the four-day Budget debate that is due before Easter. I do not know who the hon. Gentleman includes within the category of loved ones, but transfers between spouses on death are subject to special exemptions from inheritance tax.
