UK Public Supports Cuts to Inheritance Tax, Poll Finds

A significant majority of the British public supports reducing or abolishing inheritance tax, according to recent YouGov research. The poll indicates that 52 percent of respondents believe the death duties should be cut or scrapped altogether, while only 13 percent favor maintaining the current rates and 9 percent advocate for an increase.

The push for reform is championed by Kemi Badenoch, who has vowed that main residences passed down through generations would be exempt from the levy if her party wins power. Under the proposed plan, couples would also be permitted to transfer an additional £1 million in assets tax-free. This initiative, estimated to cost £6 billion, is slated to be funded by reductions in the welfare budget, potentially halving the number of individuals who pay inheritance tax.

Support for abolishing inheritance tax was particularly strong among Conservative and Reform voters. However, the sentiment extends beyond these groups, with 26 percent of Labour supporters and 27 percent of Liberal Democrat supporters also endorsing its abolition. Approximately one-fifth of those surveyed expressed no opinion.

Badenoch outlined these proposals during her speech concluding the Conservative conference, framing the policy as a continuation of the party's commitment to home ownership. She stated that individuals who "work hard and save should be rewarded for that effort." She further guaranteed, "no stamp duty when you buy your home; no mansion tax when you live in your home; and no inheritance tax on your home when you pass it to your children or grandchildren."

This announcement follows previous pledges to scrap stamp duty and to abandon Labour's proposed mansion tax. Badenoch contrasted the Conservative approach with that of the Labour Party, asserting, "The Labour Party think it is selfish to pass on what you have earned to your children. We don't."