![Pinterest](https://pinterest.com/pin/create/button/?url=https://uknews.evprotec.com/jeremy-hunt-facing-tory-mp-backlash-over-stealth-inheritance-tax-raid/&media=https://uknews.evprotec.com/wp-content/uploads/2022/11/TELEMMGLPICT000313114620_trans_NvBQzQNjv4Bqjjk7YpUk34JDbI1UvVj562vMGOgq2sQS7PLyhY-8xrc.jpeg&description=Jeremy Hunt is facing a backlash from Tory MPs over his plans for a stealth inheritance tax raid on families. The Chancellor is poised to freeze the threshold above which people must pay death duties for another two years. He will announce the move in the Autumn Statement as part of moves to fill a £60 billion blackhole in the nation's finances. Inheritance tax receipts have more than doubled in just over a decade from £2.3 billion in 2009 to £6 billion last year. That is because house prices have rocketed by 120 per cent during that time, while the threshold has remained at £325,000. The latest freeze will drag 10,000 more families into paying death duties and raise an extra £1 billion a year, analysis shows. 'Not the time to pile on further misery' Britain has the fifth highest inheritance tax rate in the world at 40 per cent, which is the same level as in the US. Only Japan, South Korea, Germany and France make people hand over more to the state on the death of a relative. Tory MPs warned Mr Hunt that it was the wrong time to be hiking taxes on households with the UK heading into a recession. 'Higher tax rates are a bad idea. We need to fight recession, back enterprise and promote wider ownership,' said Sir John Redwood. 'We need to attract capital, risk taking and investment, not tax it away,' added the former head of No 10 policy under Margaret Thatcher. Sir Iain Duncan Smith, a former Tory leader, agreed that now was 'clearly not the time to pile further misery' on hard working families. 'I don't believe he should be raising taxes just as we are going into a recession and with the highest tax base for 70 years,' he said. 'I'm generally against stealth taxes because they're stealth taxes. There's a moral argument for lower taxes," said David Davis, a former Brexit secretary. "I can quite understand what Jeremy Hunt is trying to do, and I support lots of it, but I hope we don't go too far the other way and exacerbate the recession." Individuals can currently lea){kind=link}
Chancellor set to freeze tax threshold for another two years in battle to fill £60bn blackhole in nation’s finances
Jeremy Hunt is facing a backlash from Tory MPs over his plans for a stealth inheritance tax raid on families.
The Chancellor is poised to freeze the threshold above which people must pay death duties for another two years.
He will announce the move in the Autumn Statement as part of moves to fill a £60 billion blackhole in the nation’s finances.
Inheritance tax receipts have more than doubled in just over a decade from £2.3 billion in 2009 to £6 billion last year.