I really resent the "my parents worked their butts off and paid tax" etc etc argument.
The parents of a friend of mine sold their house in North London having been in it 30 years, the house had earned more than they had as a couple over that period of time. They obviously worked hard and paid taxes but this is totally unearned income, they have massively benefited from government policies over that time which have inflated the value of their house.
My parents live in the North East, they too have worked hard over the years, saved, paid off their mortgage etc. The house has increased in value, but no where near by the same value.
Sheer luck brings you a huge inheritance, to have it untaxed will simply mean that those who had the good fortune to be born into some sort of privilege will be easily able to extend that to their children, while those who didn't have that stroke of luck will be much worse off and find it much harder to get on. We end with a society where privilege not ability will dictate the lives of the majority, and the vested interests of the few will be put before those of the many.
The people who benefit from inheritance tax changes have not paid any tax for this benefit, their parents have benefited from the society in which these massive rises have occurred, their should be some contribution toward that society.
I live in London, my children will probably have to pay tax on what is left ( if house prices continue to rise). I don't mind this.
Its awful that in times where the poor, weak and vulnerable are being hit by cuts that the privileged are being given tax cuts, either we need to cut the deficit or we don't, you can't have it both ways.
But on Mumsnet, the "I am alright Jack, keep your hands off of my stash" crow will defend this to the end.
Shame that these people will also be hit by cuts, to public services, to the society around them which will become a lot worse. As I've said before, unless your vastly wealthy, you are turkeys voting for Christmas.