Season 1 · Episode 429
Milking inheritance
Has the UK Labour party scored an own goal with its inheritance tax on family farms?
Debunking Economics - the podcast · Steve Keen & Phil Dobbie
November 13, 202439m 7s
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Show Notes
The UK Labour party seems top have scored another own goal, with their inheritance tax on family farms. Previously farms were exe pt from inheritance, but that meant wealthy landowners, with massive stately homes set in sprawling estates could buy a few sheep and claim they were a farm. Hence, the government limited the exemption to properties worth less than £1 million, a threshold which Steve Keen suggests is well below a realistic level. Thresholds should only be there for th every rich, which is the US approach to inheritance. This week Phil and Steve look at ways of managing inheritance and ask whether there are better ways of ensuring we don’t see intergenerational wealth getting out of control.
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