What do you think of Burnham's plans re inheritance tax?

[JoyousOpalLemur]

He has said in the past that he wants to abolish inheritance tax and replaced it with a social care levy on inherited assets, which will incorporate unused pensions.

I don't totally understand this if I'm honest - I think it means everyone will be dragged into the inheritance tax threshold, but it seems like a fairer tax than what currently exists, and it's there for a purpose (to fund social care).

What do you think?

https://www.independent.co.uk/money/burnham-prime-minister-money-taxes-mortgages-bonds-stamp-duty-b3001078.html

We should pay for our own social care and anything left over should go to our kids as we’ve been taxed on it already!

Which is the current system but not working as it’s taking up too much of council money
Hence the 10% IHT for everyone

The irony of this post!

The over 70s paying more tax is due to the fact many under 30s are too young to pay tax & a larger population of the over 70s, demographics are different now.

Family allowance is not the same as universal credit. And family allowance in the past was universal.

Pensioners have taken more out of the system then they have paid in.

They didn’t expect help with housing costs? How come 1 in 3 homes were social housing in the past? 🤔

In part the current system struggles because most people don’t actually end up in care homes but have care in the home which doesn’t touch housing wealth.

Nahh another BS idea to control people by minimising their assets. Just attempting to dip into the pockets of people who have worked and saved and have something to leave as inheritance. You could of lived in the family home throughout your life and to think upon inheritance you then have to worry about Gov thieves giving it - now you have to pay us whatever %!! Beyond disgusting. Whatever you inherit is your “security” and again it’s an attempt on making people have as little as possible and making life harder. Yet they always moaning “too many people are depressed/ anxious/ as more”. Very obvious why

Whilst I disagree with the LVT I think this one to pay for the elderly in care homes when they need it is good
Much better than self funders selling their homes and paying for themselves and paying for random strangers in the room next door that the council don’t pay enough for
Now that is pure theft !

10% from everyone with assets giving everyone security isn’t a bad idea