Hunt warns of ‘difficult decisions’ on benefits but mulls inheritance tax cut

Inheritance tax is charged at 40% on estates of more than £325,000, with an extra £175,000 towards a main residence passed to direct descendants. But the Tories are said to be considering cutting it in half before a potential promise to abolish it entirely in the next Tory manifesto, which could cost £7 billion a year in the short term.


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