Kemi Badenoch, leader of the Conservative Party, has announced a plan to abolish inheritance tax on family homes and allow couples to pass an additional £1 million tax-free to their families if the party wins the next election.
The proposal has drawn criticism from opponents who argue it prioritises wealthy voters. The Guardian reports that the policy is part of a broader Conservative strategy to secure support among affluent middle-class voters, particularly in southern England, as the party seeks to rebuild its traditional base.
Badenoch outlined the inheritance tax plan during a conference speech in which she rejected calls to "unite the right," signalling the party's focus on its core constituency rather than pursuing a broader coalition across the political right.
The announcement represents a significant policy commitment on tax, an area where the Conservatives have faced sustained pressure following the party's loss of power to Labour. Inheritance tax policy remains contentious, with supporters arguing it burdens families trying to pass down property and wealth, while critics contend that cuts primarily benefit the wealthiest households.
No details have been provided about how the Conservatives would offset the tax revenue lost through these changes, or the projected cost of the policy. The party has not yet released a full fiscal framework showing how these tax cuts would fit within broader spending and borrowing plans.