A majority in the House of Commons has provided David Cameron with the freedom to do over the next five years some of the things that he’s found difficult over the last five. One of the things that is set for reform is the law on inheritance tax, with the Tory manifesto having pledged to
take the family home out of tax by increasing the effective Inheritance Tax threshold for married couples and civil partners to £1 million – so you can keep more of your income and pass it on to future generations. (p 3)
(UKIP upped the ante on this, promising to get rid of inheritance tax altogether.)
How big an impact the Conservative policy would make is hard to tell: most people don’t pay inheritance tax anyway, and so raising the threshold would affect only a portion of the residuum that would pay it. But, still: we might ask whether such a policy is just. For sure, there will be some people for whom it’s attractive – archetypally, the sort of person who bought a property in a then down-at-heel part of London or Manchester a generation ago who finds that it is now something of a golden egg. But attractiveness in a policy will only take us so far. To answer the justice question, we need to look at the principles behind it. And once we do that, I’m not so sure that the policy is just. Indeed, it’s not clear that there’d be anything unjust about having a much higher rate of inheritance tax.
The views, opinions and positions expressed by these authors and blogs are theirs and do not necessarily represent that of the Bioethics Research Library and Kennedy Institute of Ethics or Georgetown University.