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Conservatives pledge to scrap inheritance tax under £1m

The Conservatives are insisting that the party will scrap inheritance tax on estates under £1m if they are elected to government.

he Tories have reiterated their tax pledge following comments from shadow business secretary Kenneth Clarke which suggested that the move to cut inheritance tax was no longer a priority.

In an interview with the Politics Show yesterday, he told viewers that plans to up the tax threshold were “an aspiration.”

He continued: “I don’t think we’re going around any longer saying, this is something we’re going to do the moment we take power.

“We’re going to have to consider when we get in, when we can afford to do that.”

Senior Conservative MPs, including Kenneth Clarke himself, have since moved to retract the comments, saying the proposals to inheritance tax would be implemented within the first term of a Tory government.

Philip Hammond, shadow chief secretary to the Treasury, told BBC Radio 5 Live: “It’s important that we restore some confidence in politics.

“That means that when we make a commitment, we stick by that commitment.

“We’ve made it clear that this commitment will be in our manifesto and a Conservative government will implement it in its first term.”


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