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Osborne 'to cut inheritance tax' Osborne slashes inheritance tax
(40 minutes later)
Shadow chancellor George Osborne will pledge to cut inheritance tax and stamp duty for first-time buyers in a speech to the Conservative conference. Shadow Chancellor George Osborne says a Conservative government will increase the threshold for inheritance tax from the current £300,000 to £1m.
And in a bid to turn the tables on Gordon Brown, he will pay for the cut with a fee charged on business people who register abroad for tax purposes. He will also scrap stamp duty for first time buyers on homes up to £250,000.
And in a bid to turn the tables on Gordon Brown, the cuts will be paid for with a fee charged on business people who register abroad for tax purposes.
Mr Brown has been under pressure from his own party over tax breaks for wealthy "non-domiciled" UK residents.Mr Brown has been under pressure from his own party over tax breaks for wealthy "non-domiciled" UK residents.
Mr Osborne said: "The package I'm putting forward today is fully costed." The £3.1bn cost of increasing the inheritance tax threshold and the £400m bill for scrapping stamp duty will be paid for imposing a £25,000 charge for non-domicile taxpayers.
The Tories are using their week in Blackpool to unveil the key policies on which they will fight the next general election - including tax breaks for some couples with children. Certainty
These are between 150,000 and 200,000 people who live in this country but who do not pay tax on the money they make abroad.
They would be asked to pay around £25,000 per year to register for that non-domicile status.
HAVE YOUR SAY Hooray! Tax breaks for hard-working married couples! As a bone-idle single person I will gladly pay more tax to help double-income households David, Ely Send us your comments
Mr Osborne told BBC Radio 4's Today programme: "I don't want to go chasing their income in off-shore bank accounts.
"All I am asking these people to do, in return for the certainty that I am not going to do any of those things in the years ahead, is that they pay this levy which I think is set at a pretty modest amount for most of them."
The shadow chancellor made it clear that the extra money he raises from green taxes - in particular, aviation taxes - will go into what he calls a "family fund" to pay for tax cuts for families to be announced closer to a general election
The Tories are using their week in Blackpool to unveil the key policies on which they will fight Labour.
Tax cutsTax cuts
A flurry of announcements over the past few days has included pledges to scrap stamp duty for first-time buyers on homes up to £250,000, give tax breaks to some couples with children and introduce a new airline pollution tax. A flurry of announcements over the past few days has included give tax breaks to some couples with children and the introduction of a new airline pollution tax.
The party has also said it would axe Home Information Packs and end "garden grabbing" by developers by changing planning rules.The party has also said it would axe Home Information Packs and end "garden grabbing" by developers by changing planning rules.
Mr Osborne said the tax cuts would be paid for by a £25,000 levy on so-called non-domiciles - people who live in this country but who do not pay tax on the money they make abroad.
TORY CONFERENCE: 0945 -1100 - Public services debate. Speakers: Andrew Lansley and Michael Gove 1115 -1230 - Economic competitiveness debate. Speakers: George Osborne, Alan Duncan, Theresa Villiers1430 - 1545 - Fixing Our Broken Society debate. Speaker: Chris Grayling1600 - 1700 - Childhood in Britain debate. Speaker: David Willetts At a glance: Tory conferenceTORY CONFERENCE: 0945 -1100 - Public services debate. Speakers: Andrew Lansley and Michael Gove 1115 -1230 - Economic competitiveness debate. Speakers: George Osborne, Alan Duncan, Theresa Villiers1430 - 1545 - Fixing Our Broken Society debate. Speaker: Chris Grayling1600 - 1700 - Childhood in Britain debate. Speaker: David Willetts At a glance: Tory conference
He estimated that this would affect between 150,000 and 200,000 people. In his speech Mr Osborne said: "The question people are asking of us this week is simple: are we ready to lead? Are we ready to lead our country out of a decade of disappointment and disillusion and betrayal of trust?
"I don't want to go chasing their income in off-shore bank accounts," he told BBC Radio 4's Today programme.
"All I am asking these people to do, in return for the certainty that I am not going to do any of those things in the years ahead, is that they pay this levy which I think is set at a pretty modest amount for most of them."
Ready and waiting
In his speech Mr Osborne will say: "The question people are asking of us this week is simple: are we ready to lead? Are we ready to lead our country out of a decade of disappointment and disillusion and betrayal of trust?
"The British people want change - and they want to know if we are the change. This week let us send the resounding answer. Yes, we are ready."The British people want change - and they want to know if we are the change. This week let us send the resounding answer. Yes, we are ready.
"For we will put ourselves forward for office as the ally of those who aspire; the friend of those who are left behind; the champion of those who strive for a better life for themselves and their children.""For we will put ourselves forward for office as the ally of those who aspire; the friend of those who are left behind; the champion of those who strive for a better life for themselves and their children."
These proposals are about giving our children back their childhood David Willetts
Monday also sees proposals for a crackdown on the compensation culture which Conservatives say threatens school trips and adventure holidays.Monday also sees proposals for a crackdown on the compensation culture which Conservatives say threatens school trips and adventure holidays.
David Willetts, who was asked by leader David Cameron to head his party's Childhood Inquiry, will say: "Children need play, adventure and excitement. But today, fear of litigation means school trips and adventure holidays are now abandoned.
"We are proposing to give much greater legal protection to people organising sport and outdoor activities for children.
"Anyone trying to sue them would have to show there had been 'reckless disregard' of obvious risks.
"And if the young person is under the influence of drink or drugs there should be a presumption of contributory negligence.
HAVE YOUR SAY Hooray! Tax breaks for hard-working married couples! As a bone-idle single person I will gladly pay more tax to help double-income households David, Ely Send us your comments
"These proposals are about giving our children back their childhood."
'Pioneer schools'
Shadow education secretary Michael Gove also confirmed plans for new "pioneer schools", promising to "tear down the bureaucratic barriers which prevent new schools being built".
One of the ideas is for every pupil in the country to wear a school blazer.
"Of the 50 best state comprehensives in Britain, 48 of them have a traditional blazer uniform policy, and it contributes to having an ethos where people when they go to school are there to work, not to bunk off, not to play around, but to study, learn and to acquire opportunities," he said.
He pledged to "remove the administrative obstacles which currently prevent charities, churches, voluntary groups and others from providing the new schools parents want and children need".
"From Sweden to New York, conservative politicians have ushered in an age of real school choice with hundreds of new schools coming in to the state sector to provide parents with real control over their children's future.
"We will make sure these schools are open to all, and can open anywhere," Mr Gove added.