A group of over 50 Tory MPs, including former Chancellor Nadhim Zahawi, have united to urge Rishi Sunak and Jeremy Hunt to scrap inheritance tax. The Conservative

Growth Group, consisting of 55 MPs allied with former Prime Minister Liz Truss, plans to release a paper in June aimed at persuading the Treasury to eliminate inheritance tax in the upcoming budget.

In an article for The Telegraph, Zahawi argued that the tax was morally unjust, stating that it was wrong to seize someone's assets upon their death. He further described it as a "spectre" that accompanies us alongside death and causes "inefficient distortions" in personal finance.

Former cabinet ministers Priti Patel and Jacob Rees-Mogg also criticized the tax as unfair. Rees-Mogg referred to death duties as an inefficient form of taxation that leads to economic damage and unfairness. He highlighted the double taxation aspect, as it targets assets that have already been taxed. Patel emphasized the importance of individuals having control over their income and the ability to determine the fate of their hard-earned savings.

The co-chairman of the Conservative Growth Group and former Cabinet minister, Ranil Jayawardena, expressed the need for bold action, advocating for the complete abolition of inheritance tax. He described it as a death tax and emphasized that it is not fair, conservative, or in line with British values.

In response, a Treasury spokesperson noted that over 93% of estates are not expected to pay any inheritance tax in the coming years. However, the tax continues to generate over £7 billion annually to support public services like the NHS and schools. The spokesperson also highlighted that surviving spouses and civil partners can pass on up to £1 million without incurring an inheritance tax liability, a significantly higher threshold than the average UK home value of £285,000.

The debate surrounding the morality and economic impact of inheritance tax continues, as these Conservative MPs push for its elimination in an effort to support families and promote financial freedom. Photo by Richard Townshend, Wikimedia commons.