So Liz Truss is getting mucked in today. Lettuce picking perhaps? Sadly not, she is being slammed over Brexit trade deal and is part of a squad of Tories demanding Inheritance tax is scrapped.
First to Inheritance Tax…
Members of the Conservative Growth Group – allies (yes really) of failed Prime Minister Liz Truss – are set to publish a paper trying to convince the Treasury to scrap the tax.
Writing in The Telegraph Mr Zahawi – who Mr Sunak sacked in January after it emerged he settled a multi-million pound tax dispute while Chancellor – said: “Inheritance tax is that other spectre that haunts us alongside death.
“As well as being morally wrong to take someone’s assets on their death, it also creates all sorts of inefficient and damaging distortions in our personal finances, and the wider economy.”
As expected Jacob Rees-Mogg also wants to see the tax scrapped, saying: “Death duties are an inefficient form of taxation that is unfair and economically damaging.
“Unfair because it is a double tax on already taxed assets. Economically damaging because it leads to the misallocation of capital, as investments are made to avoid a distortive tax rather than to maximise investment return.”
Brexit Liz Truss
The deal has been estimated to be worth a growth to the UK economy of 0.08% by 2035 and was openly mocked on New Zealand TV.
Liz Truss tweeted: “These deals mark a new era for Britain as a free trading nation and wouldn’t have been possible while we were in the EU. Our future lies in free trade with key allies in the Pacific, Europe and hopefully in due course the US. This is how we will stand up to authoritarian regimes.”