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In the recent budget, Chancellor Rachel Reeves announced a £40 billion tax increase, pushing tax as a share of national income to an all time UK high.
Just 6% of that came from an increase in inheritance tax, and just a small fraction of that will come from farmers. And yet it is the tax increase on farmers that has dominated the news headlines. But beyond the change to agricultural reliefs, there were some other big reforms as well - to pensions and business reliefs.
So to discuss how inheritance tax actually changed in the budget, who will be affected and whether it was a good idea, Paul is joined by Helen Miller and David Sturrock, colleagues at the IFS.
Host
Paul Johnson
Paul has been the Director of the IFS since 2011. He is also currently visiting professor in the Department of Economics at University College London.
Participants
Helen Miller
Helen is Deputy Director of the IFS and Head of the Tax sector.
David Sturrock
David’s research covers household wealth, intergenerational transfers, social mobility, pensions taxation, and health and work at older ages.
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