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The government’s cut to inheritance tax will deepen the North-South divide

It amounts to a £1bn subsidy to the property market in London and the South East

By Rachel Reeves  

©Xinhua/SIPA USA/PA Images

A fair tax system should tackle unjust distortions in the way that wealth is distributed, in an economy that works for everyone. But in last week’s budget, Chancellor Philip Hammond announced that he will plough on with his predecessor’s planned £1bn cut to inheritance tax. This will only serve to entrench further a blatantly unfair policy.

Death duties on estates or individuals have been around in some form since at least the 17th century, in various guises including probate duty, legacy duty, succession duty,…

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