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Osborne struggles to explain how £8bn NHS pledge would be funded - live Osborne struggles to explain how £8bn NHS pledge would be funded - live
(35 minutes later)
5.29pm BST17:29
Afternoon summary
That’s all from me today. I’m off to enjoy the last of the sunshine. Thanks for all your comments. Andrew Sparrow and the rest of the politics live blog team will be back tomorrow for the unveiling of Labour’s 2015 general election manifesto in Manchester.
It promises to be an exciting week!
4.57pm BST16:574.57pm BST16:57
Here is the IFS’s Paul Johnson on The World This Weekend.Here is the IFS’s Paul Johnson on The World This Weekend.
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Boris Johnson has given an interview to the Sun on Sunday, calling former prime minister Tony Blair an “an epic, patronising tosser” for saying there shouldn’t be a referendum on EU membership.Boris Johnson has given an interview to the Sun on Sunday, calling former prime minister Tony Blair an “an epic, patronising tosser” for saying there shouldn’t be a referendum on EU membership.
He also said that him becoming Conservative party leader was “about as likely as meeting Elvis riding Shergar with Lord Lucan on the back”. But, referencing Cameron’s announcement that he would not serve a third term, he added: “In five years’ time, God knows what the landscape will look like. It’s a fast-shifting landscape.”He also said that him becoming Conservative party leader was “about as likely as meeting Elvis riding Shergar with Lord Lucan on the back”. But, referencing Cameron’s announcement that he would not serve a third term, he added: “In five years’ time, God knows what the landscape will look like. It’s a fast-shifting landscape.”
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After announcing the party’s deficit reduction plans, the Liberal Democrat leader Nick Clegg has gone for a spot of Sunday afternoon bowling. The Lib Dem campaign has so far consisted of a series of warm, fuzzy photo opportunities – from hedgehogs and outdoor adventure centres to childrens’ play areas and yellow cocktails with little umbrellas.After announcing the party’s deficit reduction plans, the Liberal Democrat leader Nick Clegg has gone for a spot of Sunday afternoon bowling. The Lib Dem campaign has so far consisted of a series of warm, fuzzy photo opportunities – from hedgehogs and outdoor adventure centres to childrens’ play areas and yellow cocktails with little umbrellas.
No pressure then for the political leader who promises to stop a veer to the left or to the right #GE2015 pic.twitter.com/wQTq8nDpa2No pressure then for the political leader who promises to stop a veer to the left or to the right #GE2015 pic.twitter.com/wQTq8nDpa2
Wonder what they have in store for us next week.Wonder what they have in store for us next week.
Updated at 4.57pm BSTUpdated at 4.57pm BST
3.43pm BST15:433.43pm BST15:43
Paul Johnson and Carl Emmerson from the Institute for Fiscal Studies have written a response to the Conservative party’s inheritance tax proposals. Here is an extract –Paul Johnson and Carl Emmerson from the Institute for Fiscal Studies have written a response to the Conservative party’s inheritance tax proposals. Here is an extract –
The vast majority of estates (over 90%) are not liable to IHT at the moment and therefore would not benefit. The Conservatives estimate that their policy would be a giveaway of about £1 billion. With around 50,000 estates forecast to pay IHT over the next few years this gives an average (mean) gain per IHT paying estate of around £20,000. The maximum reduction in IHT on a couple’s estate is £140,000 which will go to married couples with estates worth between £1 million and £2 million. Since the children of those with very large estates are disproportionately towards the top of the income distribution the gains from this (and in fact any) IHT cut will also go disproportionately to those towards the top of the income distribution.The vast majority of estates (over 90%) are not liable to IHT at the moment and therefore would not benefit. The Conservatives estimate that their policy would be a giveaway of about £1 billion. With around 50,000 estates forecast to pay IHT over the next few years this gives an average (mean) gain per IHT paying estate of around £20,000. The maximum reduction in IHT on a couple’s estate is £140,000 which will go to married couples with estates worth between £1 million and £2 million. Since the children of those with very large estates are disproportionately towards the top of the income distribution the gains from this (and in fact any) IHT cut will also go disproportionately to those towards the top of the income distribution.
Many features of the policy are similar to one analysed in a Treasury document that was leaked to, and published by, the Guardian last month. This estimates that, based on Budget 2014 forecasts, the policy would reduce the proportion of estates liable for IHT from 8% in 2015–16 to just over 6% by the end of the parliament, rather than see it rise to just over 10% under current policy.Many features of the policy are similar to one analysed in a Treasury document that was leaked to, and published by, the Guardian last month. This estimates that, based on Budget 2014 forecasts, the policy would reduce the proportion of estates liable for IHT from 8% in 2015–16 to just over 6% by the end of the parliament, rather than see it rise to just over 10% under current policy.
As this HMT document argues (para 16, page 9) “there are not strong economic arguments for introducing an inheritance tax exemption specifically related to main residences”. The document lists a number of problems with the policy for example the fact that it would encourage investment in owner-occupied housing rather than other more productive investments and discourage downsizing late in life when that might otherwise be appropriate.As this HMT document argues (para 16, page 9) “there are not strong economic arguments for introducing an inheritance tax exemption specifically related to main residences”. The document lists a number of problems with the policy for example the fact that it would encourage investment in owner-occupied housing rather than other more productive investments and discourage downsizing late in life when that might otherwise be appropriate.
3.12pm BST15:123.12pm BST15:12
A couple of interesting things came out of Sunday Politics North West (which has finally popped up on BBC iPlayer). Guests were Liberal Democrat MP for Westmorland and Lonsdale, Tim Farron, Labour’s shadow health secretary, Andy Burnham, and Conservative party MP for Ribble Valley, Nigel Evans.A couple of interesting things came out of Sunday Politics North West (which has finally popped up on BBC iPlayer). Guests were Liberal Democrat MP for Westmorland and Lonsdale, Tim Farron, Labour’s shadow health secretary, Andy Burnham, and Conservative party MP for Ribble Valley, Nigel Evans.
Farron, who is a favourite to replace Nick Clegg as Lib Dem leader, was asked about his leadership ambitions and he responded that he wouldn’t be spending any of his energy thinking about the leadership question. “My view is that we’ve got the most important election in the UK in many years and the most challenging one for the Liberal Democrats for a generation. If you give your head space to what’s coming afterwards, you’re a massive fool.” But would Vince Cable be a good leader? “I was his PPS (Parliamentary Private Secretary) when he was the acting leader and he was a stonking good leader,” Farron said.Farron, who is a favourite to replace Nick Clegg as Lib Dem leader, was asked about his leadership ambitions and he responded that he wouldn’t be spending any of his energy thinking about the leadership question. “My view is that we’ve got the most important election in the UK in many years and the most challenging one for the Liberal Democrats for a generation. If you give your head space to what’s coming afterwards, you’re a massive fool.” But would Vince Cable be a good leader? “I was his PPS (Parliamentary Private Secretary) when he was the acting leader and he was a stonking good leader,” Farron said.
MP for Leigh Andy Burnham said that his party would be sticking to their commitment to spend an extra £2.5bn on the NHS immediately after the general election, in the face of yesterday’s Tory announcement that they would find £8bn for the health service by 2020. He said the Conservative promise was a cheque that would probably bounce and that his party was the only one to have a fully funded policy.MP for Leigh Andy Burnham said that his party would be sticking to their commitment to spend an extra £2.5bn on the NHS immediately after the general election, in the face of yesterday’s Tory announcement that they would find £8bn for the health service by 2020. He said the Conservative promise was a cheque that would probably bounce and that his party was the only one to have a fully funded policy.
Updated at 3.46pm BSTUpdated at 3.46pm BST
2.36pm BST14:362.36pm BST14:36
Many on Twitter are still excited about Osborne’s “car crash” interview with Andrew Marr this morning. LabourList has posted the interview in full, so you can make up your own mind.Many on Twitter are still excited about Osborne’s “car crash” interview with Andrew Marr this morning. LabourList has posted the interview in full, so you can make up your own mind.
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The war of words between Labour and the SNP continued this afternoon as Nicola Sturgeon launched a “guarantee” to Labour voters whilst campaigning in Labour shadow cabinet minister Douglas Alexander’s vulnerable seat of Paisley and Renfrewshire South.The war of words between Labour and the SNP continued this afternoon as Nicola Sturgeon launched a “guarantee” to Labour voters whilst campaigning in Labour shadow cabinet minister Douglas Alexander’s vulnerable seat of Paisley and Renfrewshire South.
Appealing directly to former Labour supporters who were now planning to vote for the SNP in May, Sturgeon guaranteed that an increased team of SNP MPs in Westminster would lock the Tories out of Downing Street, fight austerity, support an additional £9.5bn funding boost for the NHS across the UK and vote against spending on Trident renewal.Appealing directly to former Labour supporters who were now planning to vote for the SNP in May, Sturgeon guaranteed that an increased team of SNP MPs in Westminster would lock the Tories out of Downing Street, fight austerity, support an additional £9.5bn funding boost for the NHS across the UK and vote against spending on Trident renewal.
2.06pm BST14:062.06pm BST14:06
Paul Johnson, director of the independent Institute for Fiscal Studies, has become one of the most authoritative voices on political party spending plans.Paul Johnson, director of the independent Institute for Fiscal Studies, has become one of the most authoritative voices on political party spending plans.
He has just been on Radio 4’s the World This Weekend giving his verdict on today’s various announcements. Johnson said that the debate around taxation in the run up to the election has been “really deeply depressing”, as the main parties have forced each other to rule out “whole hosts of relatively straight forward ways of increasing tax”. He said that the Conservative party’s inheritance tax cut would only benefit a relatively small number of people:He has just been on Radio 4’s the World This Weekend giving his verdict on today’s various announcements. Johnson said that the debate around taxation in the run up to the election has been “really deeply depressing”, as the main parties have forced each other to rule out “whole hosts of relatively straight forward ways of increasing tax”. He said that the Conservative party’s inheritance tax cut would only benefit a relatively small number of people:
Less than 10% [of estates] pay inheritance tax at all at the moment. This particular change will probably reduce the inheritance tax liabilities of between 20,000 and 30,000 estates each year. That’s out of something like half a million people who die each year.Less than 10% [of estates] pay inheritance tax at all at the moment. This particular change will probably reduce the inheritance tax liabilities of between 20,000 and 30,000 estates each year. That’s out of something like half a million people who die each year.
And he said the move could inflate house prices further:And he said the move could inflate house prices further:
Anything that does something like this that increases the tax privilege associated with an asset like housing will drive the price up in the long run.Anything that does something like this that increases the tax privilege associated with an asset like housing will drive the price up in the long run.
Johnson also cast doubt on the estimates given by political parties as to how much could be raised by cracking down on tax avoidance.Johnson also cast doubt on the estimates given by political parties as to how much could be raised by cracking down on tax avoidance.
I think both main parties are making up numbers here in terms of what they can get from tax avoidance and evasion. The Conservatives are committed to getting £5 billion a year extra;Labour are trumping that by saying £7.5 billion...I think both main parties are making up numbers here in terms of what they can get from tax avoidance and evasion. The Conservatives are committed to getting £5 billion a year extra;Labour are trumping that by saying £7.5 billion...
It’s almost impossible to know upfront what you can achieve by cracking down on avoidance and evasion.You can do so much that you begin to put off real economic activity... so you do have to be careful about exactly how you do this.It’s almost impossible to know upfront what you can achieve by cracking down on avoidance and evasion.You can do so much that you begin to put off real economic activity... so you do have to be careful about exactly how you do this.
Updated at 3.46pm BSTUpdated at 3.46pm BST
1.50pm BST13:501.50pm BST13:50
A quick round up of Twitter reaction to the Scottish party leaders’ debate on the BBC’s Sunday Politics Scotland programme. The consensus seems to be that it did not make for edifying viewing.A quick round up of Twitter reaction to the Scottish party leaders’ debate on the BBC’s Sunday Politics Scotland programme. The consensus seems to be that it did not make for edifying viewing.
Jim Murphy again saying that Labour don’t need to make further cuts. Him and Balls definitely at odds on thisJim Murphy again saying that Labour don’t need to make further cuts. Him and Balls definitely at odds on this
When Miliband launches manifesto tomorrow certain to be asked if Jim Murphy is right and Labour plans require no further cuts beyond 15-16.When Miliband launches manifesto tomorrow certain to be asked if Jim Murphy is right and Labour plans require no further cuts beyond 15-16.
I think I've pinpointed the exact second when Gordon Brewer gave up this morning. https://t.co/GFMWe1dMOYI think I've pinpointed the exact second when Gordon Brewer gave up this morning. https://t.co/GFMWe1dMOY
This Scottish edition of Sunday Politics could go viral... If it weren't such a sunny day outside. All of them going at it hammer and tongs.This Scottish edition of Sunday Politics could go viral... If it weren't such a sunny day outside. All of them going at it hammer and tongs.
Thank God nobody in their right mind is watching this #sunpolscotThank God nobody in their right mind is watching this #sunpolscot
Updated at 1.50pm BSTUpdated at 1.50pm BST
1.05pm BST13:051.05pm BST13:05
Lunchtime summaryLunchtime summary
The morning has revolved around three main political stories –The morning has revolved around three main political stories –
And in other news –And in other news –
12.47pm BST12:4712.47pm BST12:47
Former Labour cabinet minister and chair of the Social Mobility and Child Poverty Commission, Alan Milburn, has commented on the Conservative party’s inheritance tax plans.Former Labour cabinet minister and chair of the Social Mobility and Child Poverty Commission, Alan Milburn, has commented on the Conservative party’s inheritance tax plans.
There are much better ways to spend £1 billion if you want to reward aspiration. Spending £1 billion to take just 22,000 families out of inheritance tax is not the right priority and will not improve social mobility.There are much better ways to spend £1 billion if you want to reward aspiration. Spending £1 billion to take just 22,000 families out of inheritance tax is not the right priority and will not improve social mobility.
The Treasury’s own analysis says it will ‘benefit high income and wealthier households’. Offering a £140,000 tax cut on a house worth £2million to just 0.1 per cent of Britain’s families is a slap in the face for the hundreds of thousands of young people who are struggling to get on the housing ladder in the first place. Home ownership rates among under-25s have halved and this proposal will do nothing to help them.The Treasury’s own analysis says it will ‘benefit high income and wealthier households’. Offering a £140,000 tax cut on a house worth £2million to just 0.1 per cent of Britain’s families is a slap in the face for the hundreds of thousands of young people who are struggling to get on the housing ladder in the first place. Home ownership rates among under-25s have halved and this proposal will do nothing to help them.
This is a missed opportunity to do something for the many young people who want to move up and get on. The money could have been better used to restore cuts made to Sure Start funding so that children from all backgrounds would have a better chance in life. Or it could have been put into cutting the debts that students face when they go to university or into increasing the number of decent apprenticeships.This is a missed opportunity to do something for the many young people who want to move up and get on. The money could have been better used to restore cuts made to Sure Start funding so that children from all backgrounds would have a better chance in life. Or it could have been put into cutting the debts that students face when they go to university or into increasing the number of decent apprenticeships.
Instead it seems to have been designed to appeal to an inner core as part of a divisive core vote strategy. It is not the way to make Britain fairer or more socially mobile.Instead it seems to have been designed to appeal to an inner core as part of a divisive core vote strategy. It is not the way to make Britain fairer or more socially mobile.
Updated at 3.47pm BSTUpdated at 3.47pm BST
12.38pm BST12:3812.38pm BST12:38
Scotland’s political leaders have clashed for the third time this week on BBC Scotland’s Sunday Politics Scotland programme.Scotland’s political leaders have clashed for the third time this week on BBC Scotland’s Sunday Politics Scotland programme.
In a debate that verged on the shambolic, Scottish Labour leader Jim Murphy and Scottish Conservative leader Ruth Davidson at times shouted over SNP leader Nicola Sturgeon while the Liberal Democrat leader Willie Rennie struggling to get a word in edgeways.In a debate that verged on the shambolic, Scottish Labour leader Jim Murphy and Scottish Conservative leader Ruth Davidson at times shouted over SNP leader Nicola Sturgeon while the Liberal Democrat leader Willie Rennie struggling to get a word in edgeways.
Host Gordon Brewer battled to control the increasingly chaotic discussion, Murphy accused Sturgeon of being unable to provide the figures to back up her party’s flagship policy full fiscal autonomy – which he and Ed Miliband attacked on Friday – while Sturgeon argued that Murphy was failing to answer her questions about the degree of cuts a Labour administration would impose.Host Gordon Brewer battled to control the increasingly chaotic discussion, Murphy accused Sturgeon of being unable to provide the figures to back up her party’s flagship policy full fiscal autonomy – which he and Ed Miliband attacked on Friday – while Sturgeon argued that Murphy was failing to answer her questions about the degree of cuts a Labour administration would impose.
Sturgeon described Labour attacks on her proposals for full fiscal autonomy – which she said SNP MPs would vote for in the next Westminister parliament should they get the chance – were reminiscent of the “Project Fear campaign that dominated the referendum”. She said that figures from the IFS projecting a £7.6bn shortfall in Scotland’s economy should the country get full control of its tax and spending were “irrelevant” to the argument because it was a “snapshot one year figure”. She added: “I don’t accept the point that a deficit means that you can’t be in control of your own economy”.Sturgeon described Labour attacks on her proposals for full fiscal autonomy – which she said SNP MPs would vote for in the next Westminister parliament should they get the chance – were reminiscent of the “Project Fear campaign that dominated the referendum”. She said that figures from the IFS projecting a £7.6bn shortfall in Scotland’s economy should the country get full control of its tax and spending were “irrelevant” to the argument because it was a “snapshot one year figure”. She added: “I don’t accept the point that a deficit means that you can’t be in control of your own economy”.
Murphy accused Sturgeon of “making it up as she goes along”, repeatedly demanding that she explain the “magic policy that you have that the rest of the world doesn’t” to grow Scotland’s economy by double the rest of the developed world in order to make up the shortfall.Murphy accused Sturgeon of “making it up as she goes along”, repeatedly demanding that she explain the “magic policy that you have that the rest of the world doesn’t” to grow Scotland’s economy by double the rest of the developed world in order to make up the shortfall.
Murphy went on to accuse Sturgeon of siding with the Tories, referring to Boris Johnson’s desire to get rid of the Barnett Formula, warning that Scotland could be “caught in a pincer movement between the leader of the SNP and new leader of the Tory party”.Challenged by Gordon Brewer to work on a set of figures setting out her party’s alternative to the IFS projections that she dismisses, Sturgeon said that the SNP’s forth-coming manifesto would contain such information.Meanwhile, she once again refused to commit to ruling out including another referendum on independence in her party’s 2016 Holyrood manifesto, repeating her contention that “something significant would have to change” before that happened.But in a debate that reminded most viewers of the proverbial “stairheid rammy” than any useful exposition of policy, there were no winners.Murphy went on to accuse Sturgeon of siding with the Tories, referring to Boris Johnson’s desire to get rid of the Barnett Formula, warning that Scotland could be “caught in a pincer movement between the leader of the SNP and new leader of the Tory party”.Challenged by Gordon Brewer to work on a set of figures setting out her party’s alternative to the IFS projections that she dismisses, Sturgeon said that the SNP’s forth-coming manifesto would contain such information.Meanwhile, she once again refused to commit to ruling out including another referendum on independence in her party’s 2016 Holyrood manifesto, repeating her contention that “something significant would have to change” before that happened.But in a debate that reminded most viewers of the proverbial “stairheid rammy” than any useful exposition of policy, there were no winners.
Updated at 2.29pm BSTUpdated at 2.29pm BST
12.33pm BST12:3312.33pm BST12:33
Stephanie Flanders, the BBC’s former economics editor, has tweeted about reports about Labour leader Ed Miliband’s past love life. She says that the few weeks that she dated Miliband have proved very costly.Stephanie Flanders, the BBC’s former economics editor, has tweeted about reports about Labour leader Ed Miliband’s past love life. She says that the few weeks that she dated Miliband have proved very costly.
Sorry that @thesundaytimes follows Mail in raking over Miliband's past today. We "dated" fleetingly in 2004. V costly few wks, it turns out.Sorry that @thesundaytimes follows Mail in raking over Miliband's past today. We "dated" fleetingly in 2004. V costly few wks, it turns out.
Friday’s Daily Mail included a double page spread on Ed Miliband’s “tangled” love life before he met his wife Justine. Turns out the Labour leader dated a number of single women, with whom he shared interests and mutual friends.Friday’s Daily Mail included a double page spread on Ed Miliband’s “tangled” love life before he met his wife Justine. Turns out the Labour leader dated a number of single women, with whom he shared interests and mutual friends.
The Telegraph also reported on the ‘story’ and today’s Sunday Times mentions it too.The Telegraph also reported on the ‘story’ and today’s Sunday Times mentions it too.
Updated at 3.47pm BSTUpdated at 3.47pm BST
12.17pm BST12:1712.17pm BST12:17
Danny Alexander, chief secretary to the treasury, has been interviewed by Andrew Neil on the Daily Politics.Danny Alexander, chief secretary to the treasury, has been interviewed by Andrew Neil on the Daily Politics.
He said that the Liberal Democrats would find a further £10bn of savings from the running costs of government between now and 2017/18. Alexander said, the party would be “making better use of technology, getting better value for government property and extending successful reforms that join up public services at a local level, like the troubled families programme and the better care fund, to other areas.”He said that the Liberal Democrats would find a further £10bn of savings from the running costs of government between now and 2017/18. Alexander said, the party would be “making better use of technology, getting better value for government property and extending successful reforms that join up public services at a local level, like the troubled families programme and the better care fund, to other areas.”
“Certainly the work I’ve done in government suggests that that is all achievable and would deliver the lion’s share of this money,” he said.“Certainly the work I’ve done in government suggests that that is all achievable and would deliver the lion’s share of this money,” he said.
The party would also find £12bn of tax rises, including £7bn from cracking down on tax avoidance and evasion.The party would also find £12bn of tax rises, including £7bn from cracking down on tax avoidance and evasion.
Andrew Neil asked him about reports that the Liberal Democrats blocked Tory attempts to cut inheritance tax over the last parliament.Andrew Neil asked him about reports that the Liberal Democrats blocked Tory attempts to cut inheritance tax over the last parliament.
“I think it’s the wrong priority,” said Alexander. “Our focus at the moment has to be cutting taxes for working people.”“I think it’s the wrong priority,” said Alexander. “Our focus at the moment has to be cutting taxes for working people.”
“The Tories’ priority is always ‘how do you cut taxes for those who are better off?’, our view is that we should help people who are earning money to keep more of the money that they earn.”“The Tories’ priority is always ‘how do you cut taxes for those who are better off?’, our view is that we should help people who are earning money to keep more of the money that they earn.”
Neil asked if Alexander had gone from “Danny Boy to Desperate Dan” following polling that suggests that he will lose his seat of Inverness, Nairn, Badenoch and Strathspey.Neil asked if Alexander had gone from “Danny Boy to Desperate Dan” following polling that suggests that he will lose his seat of Inverness, Nairn, Badenoch and Strathspey.
Alexander responded: “No... I think that people up here in the Highlands and across Scotland can see the difference that we’ve made.”Alexander responded: “No... I think that people up here in the Highlands and across Scotland can see the difference that we’ve made.”
Updated at 3.47pm BSTUpdated at 3.47pm BST
11.52am BST11:5211.52am BST11:52
Time for some questions from journalists:Time for some questions from journalists:
Is this a tax cut for people who are already comfortably off?Is this a tax cut for people who are already comfortably off?
Cameron said it was a cut for people on modest incomes, with modest homes. “We’re saying we back you,” he said.Cameron said it was a cut for people on modest incomes, with modest homes. “We’re saying we back you,” he said.
The prime minister was asked whether cutting inheritance tax should really be the priority when there are big welfare cuts planned.The prime minister was asked whether cutting inheritance tax should really be the priority when there are big welfare cuts planned.
He said he thought the move would benefit people right across the country and that the deficit would be brought down fairly.He said he thought the move would benefit people right across the country and that the deficit would be brought down fairly.
Cameron was finally asked if he was trying to wipe out the Liberal Democrats in their West Country heartland.Cameron was finally asked if he was trying to wipe out the Liberal Democrats in their West Country heartland.
“If you seek an answer, look around,” he joked. “I’m fighting a very energetic campaign... I will keep coming back and back to the West Country, and other places, to make the argument that we are only 23 seats short of a majority.”“If you seek an answer, look around,” he joked. “I’m fighting a very energetic campaign... I will keep coming back and back to the West Country, and other places, to make the argument that we are only 23 seats short of a majority.”
The Coalition did good work, he said, but now is the time for the Conservative party to take that record forward.The Coalition did good work, he said, but now is the time for the Conservative party to take that record forward.
11.42am BST11:4211.42am BST11:42
Cameron is saying that “death duty” should only be for millionaires.Cameron is saying that “death duty” should only be for millionaires.
Yes, it’s right that we as a nation have inheritance tax. Yes, it’s right that the wealthiest pay that tax.Yes, it’s right that we as a nation have inheritance tax. Yes, it’s right that the wealthiest pay that tax.
But no – it was never meant for people who spent their working lives as teachers or nurses or running small businesses. It was never meant for people in modest homes, on middle incomes. But that’s who has been sucked into paying this tax. Look at the level that inheritance tax is currently set at: £325,000 per individual.But no – it was never meant for people who spent their working lives as teachers or nurses or running small businesses. It was never meant for people in modest homes, on middle incomes. But that’s who has been sucked into paying this tax. Look at the level that inheritance tax is currently set at: £325,000 per individual.
Do you know how many homes in our country fall above that amount? Almost a quarter of them. I wouldn’t describe a quarter of the people in our country as super rich.Do you know how many homes in our country fall above that amount? Almost a quarter of them. I wouldn’t describe a quarter of the people in our country as super rich.
11.38am BST11:3811.38am BST11:38
David Cameron is speaking in Gloucestershire, setting out the party’s plans to take homes worth up to £1m out of inheritance tax.David Cameron is speaking in Gloucestershire, setting out the party’s plans to take homes worth up to £1m out of inheritance tax.
I remember so well the day my first son was born and in that moment – when you become a parent, absolutely everything changes. Everything you do is for your children. You’ve got this huge responsibility not just to love them but to provide for them. And though my children are still small, I know that never goes away that when they’re in their twenties, thirties, forties – that desire to be there for them is as strong as ever.I remember so well the day my first son was born and in that moment – when you become a parent, absolutely everything changes. Everything you do is for your children. You’ve got this huge responsibility not just to love them but to provide for them. And though my children are still small, I know that never goes away that when they’re in their twenties, thirties, forties – that desire to be there for them is as strong as ever.
And yes, you want to know that even after you’re gone, when you’re not on the phone and not physically there – you can still provide for them. That wish to pass something on is about the most basic, human and natural instinct there is. And that’s why for a long, long time I have wanted to act on inheritance.And yes, you want to know that even after you’re gone, when you’re not on the phone and not physically there – you can still provide for them. That wish to pass something on is about the most basic, human and natural instinct there is. And that’s why for a long, long time I have wanted to act on inheritance.
Updated at 3.47pm BSTUpdated at 3.47pm BST
11.25am BST11:2511.25am BST11:25
Ukip’s deputy leader Paul Nuttall has been on Sky’s Murnaghan programme, where he batted away questions about his party leadership ambitions.Ukip’s deputy leader Paul Nuttall has been on Sky’s Murnaghan programme, where he batted away questions about his party leadership ambitions.
Would he stand to be Ukip leader?Would he stand to be Ukip leader?
Nuttall said: “It depends on when it is, how far in the future. I’ve been Nigel’s deputy now for five years, I was chairman of the party two years before that... But I don’t envisage that this election will happen because I’m sure Nigel Farage will go on and win that seat in Thanet South.”Nuttall said: “It depends on when it is, how far in the future. I’ve been Nigel’s deputy now for five years, I was chairman of the party two years before that... But I don’t envisage that this election will happen because I’m sure Nigel Farage will go on and win that seat in Thanet South.”
He was asked about polling in South Thanet, where Farage is hoping to win a seat in Westminster, which showed the Ukip leader one point behind the Tory incumbent Laura Sandys. Nuttall argued that the poll was not accurate because it did not mention Farage by name, the same argument made by the Liberal Democrats when a poll showed Nick Clegg to be trailing Labour in his constituency of Sheffield Hallam.He was asked about polling in South Thanet, where Farage is hoping to win a seat in Westminster, which showed the Ukip leader one point behind the Tory incumbent Laura Sandys. Nuttall argued that the poll was not accurate because it did not mention Farage by name, the same argument made by the Liberal Democrats when a poll showed Nick Clegg to be trailing Labour in his constituency of Sheffield Hallam.
“I don’t think it’s going to be an issue. I’ll tell you why: I think Nigel Farage is going to win Thanet South. If the polls are saying, ok, he may be one point behind – that was an opinion poll last week that was leaked to a Sunday newspaper – but if you put the name of a candidate next to the party in Thanet South, it shows that Ukip has a big leap in support. I am fully confident that Nigel will go on and win that seat in Thanet South and therefore it will not be an issue and he will lead us into the second half of this decade, into the local elections, into the assembly elections, into the next European elections and, I sincerely hope, into the next general election.”“I don’t think it’s going to be an issue. I’ll tell you why: I think Nigel Farage is going to win Thanet South. If the polls are saying, ok, he may be one point behind – that was an opinion poll last week that was leaked to a Sunday newspaper – but if you put the name of a candidate next to the party in Thanet South, it shows that Ukip has a big leap in support. I am fully confident that Nigel will go on and win that seat in Thanet South and therefore it will not be an issue and he will lead us into the second half of this decade, into the local elections, into the assembly elections, into the next European elections and, I sincerely hope, into the next general election.”
Updated at 3.47pm BSTUpdated at 3.47pm BST
11.00am BST11:0011.00am BST11:00
Sunday reading listSunday reading list
Here are a few reading recommendations for this lovely sunny Sunday –Here are a few reading recommendations for this lovely sunny Sunday –
Two men who would do anything for No 10; one who can’t say why, Dominic Lawson in The Sunday Times.Two men who would do anything for No 10; one who can’t say why, Dominic Lawson in The Sunday Times.
On the facts, we can say that the defence secretary’s [Michael Fallon] argument was as spurious and hypocritical as one might expect from a politician of the second rank attempting to make the headlines during a bitterly contested election campaign. But it was the combining of this with Ed Miliband’s personal relationship with his brother that makes the defence secretary’s intervention emetic.On the facts, we can say that the defence secretary’s [Michael Fallon] argument was as spurious and hypocritical as one might expect from a politician of the second rank attempting to make the headlines during a bitterly contested election campaign. But it was the combining of this with Ed Miliband’s personal relationship with his brother that makes the defence secretary’s intervention emetic.
David Cameron’s main hope is the return of the ‘shy Tories’, John Rentoul in the The Independent on SundayDavid Cameron’s main hope is the return of the ‘shy Tories’, John Rentoul in the The Independent on Sunday
There is the more general problem of opinion polls failing to pick up behavioural changes. In the Scottish referendum, for example, the final polls suggested that the No vote would win by a margin of five percentage points, but the result was that No won by 11 points (a case of the “shy Noes”?). If there were a six-point difference between the opinion polls and the result of the general election, that could mean either Cameron or Miliband winning a majority outright. I wouldn’t expect the opinion polls to be that far out: a referendum is a one-off event and strange things are going on in Scotland at the moment.There is the more general problem of opinion polls failing to pick up behavioural changes. In the Scottish referendum, for example, the final polls suggested that the No vote would win by a margin of five percentage points, but the result was that No won by 11 points (a case of the “shy Noes”?). If there were a six-point difference between the opinion polls and the result of the general election, that could mean either Cameron or Miliband winning a majority outright. I wouldn’t expect the opinion polls to be that far out: a referendum is a one-off event and strange things are going on in Scotland at the moment.
We must ditch the dark Dickensian language of austerity, Liam Fox in the Mail on SundayWe must ditch the dark Dickensian language of austerity, Liam Fox in the Mail on Sunday
The British economy is growing at the fastest rate in the developed world and is the envy of the paralysed eurozone. Living standards are rising and millions on low pay have been taken out of income tax altogether...The British economy is growing at the fastest rate in the developed world and is the envy of the paralysed eurozone. Living standards are rising and millions on low pay have been taken out of income tax altogether...
Against this terrific backdrop we should be ten points ahead of a Labour Party with zero economic credibility and a leader who was Gordon Brown’s special adviser in the Treasury for more than a decade and a member of his catastrophic Government. The questions many Conservatives are asking are: what is going on and what are we going to do about it?Against this terrific backdrop we should be ten points ahead of a Labour Party with zero economic credibility and a leader who was Gordon Brown’s special adviser in the Treasury for more than a decade and a member of his catastrophic Government. The questions many Conservatives are asking are: what is going on and what are we going to do about it?
Party manifestos: furtive silences that speak more eloquently than flowery words, Andrew Rawnsley in the ObserverParty manifestos: furtive silences that speak more eloquently than flowery words, Andrew Rawnsley in the Observer
There is always pressure at this stage of a campaign to make a splash with the manifesto. That pressure to try to beguile the electorate with promised goodies is the more intense when an election is so tight. Which increases the temptation to make pledges that can’t be kept. Last time around, the Tories said they wouldn’t put up VAT – and then promptly did – and wouldn’t touch child benefit – and then did that too. The Lib Dems have paid an enduring price for promising to abolish tuition fees and then agreeing to triple them when they unexpectedly found themselves in government.There is always pressure at this stage of a campaign to make a splash with the manifesto. That pressure to try to beguile the electorate with promised goodies is the more intense when an election is so tight. Which increases the temptation to make pledges that can’t be kept. Last time around, the Tories said they wouldn’t put up VAT – and then promptly did – and wouldn’t touch child benefit – and then did that too. The Lib Dems have paid an enduring price for promising to abolish tuition fees and then agreeing to triple them when they unexpectedly found themselves in government.
If David Cameron can’t win over Ukip voters, he’s had it, Iain Martin in The TelegraphIf David Cameron can’t win over Ukip voters, he’s had it, Iain Martin in The Telegraph
It would be foolish in the extreme to dismiss the party’s prospects next month. Despite all predictions to the contrary, and years of mockery from the metropolitan media, Ukip is still in there fighting – and on the verge of doing something extraordinary that could decide the fate of the Conservative Party and the country in a few weeks’ time.It would be foolish in the extreme to dismiss the party’s prospects next month. Despite all predictions to the contrary, and years of mockery from the metropolitan media, Ukip is still in there fighting – and on the verge of doing something extraordinary that could decide the fate of the Conservative Party and the country in a few weeks’ time.
A large win – in terms of seats – was never likely and it was never the point, because the party’s support is thinly spread in too many areas. And the first-past-the-post system favours the Tories and Labour, at least in England.A large win – in terms of seats – was never likely and it was never the point, because the party’s support is thinly spread in too many areas. And the first-past-the-post system favours the Tories and Labour, at least in England.
Updated at 3.48pm BSTUpdated at 3.48pm BST
10.36am BST10:3610.36am BST10:36
Liberal Democrat leader Nick Clegg has been setting out his party’s deficit reduction plans at a press conference in Westminster.Liberal Democrat leader Nick Clegg has been setting out his party’s deficit reduction plans at a press conference in Westminster.
The Liberal Democrats have said they would eradicate the structural budget deficit by 2017/18 through £12bn in departmental savings, £3bn in welfare savings, £5bn in tax rises and £7bn in reduced tax avoidance.The Liberal Democrats have said they would eradicate the structural budget deficit by 2017/18 through £12bn in departmental savings, £3bn in welfare savings, £5bn in tax rises and £7bn in reduced tax avoidance.
Specific measures include:Specific measures include:
Clegg repeated the party’s central campaign message, that they would borrow less than Labour and cut less than the Conservatives –Clegg repeated the party’s central campaign message, that they would borrow less than Labour and cut less than the Conservatives –
When we entered Government, the Labour party left us a note saying ‘there’s no money left’ and still refuse to apologise for crashing the economy. Five years on, the Liberal Democrats have started to turn this around in a fair and balanced way. But there is more to do to finish the job.When we entered Government, the Labour party left us a note saying ‘there’s no money left’ and still refuse to apologise for crashing the economy. Five years on, the Liberal Democrats have started to turn this around in a fair and balanced way. But there is more to do to finish the job.
Labour want to run the country on a credit card, borrowing £70bn more than the Liberal Democrats, threatening our economic recovery and burdening future generations with piles of debt. They were irresponsible then, and are being irresponsible now.Labour want to run the country on a credit card, borrowing £70bn more than the Liberal Democrats, threatening our economic recovery and burdening future generations with piles of debt. They were irresponsible then, and are being irresponsible now.
The Conservatives are no better. They want to deviate massively from the coalition Government’s spending plans and instead want to savagely cut welfare by £12bn, singling out the most vulnerable people in this country to bear the pain of balancing the books.The Conservatives are no better. They want to deviate massively from the coalition Government’s spending plans and instead want to savagely cut welfare by £12bn, singling out the most vulnerable people in this country to bear the pain of balancing the books.
The Liberal Democrats will create a stronger economy and fairer society, cutting less than the Conservatives and borrowing less than Labour. Our approach is fairer, more balanced, more responsible and more progressive.The Liberal Democrats will create a stronger economy and fairer society, cutting less than the Conservatives and borrowing less than Labour. Our approach is fairer, more balanced, more responsible and more progressive.
Updated at 3.48pm BSTUpdated at 3.48pm BST
10.24am BST10:2410.24am BST10:24
Marr also asked Osborne about defence secretary Michael Fallon’s claim that Ed Miliband would stab Britain’s national interest in the back in the same way he did his brother to gain the Labour leadership.Marr also asked Osborne about defence secretary Michael Fallon’s claim that Ed Miliband would stab Britain’s national interest in the back in the same way he did his brother to gain the Labour leadership.
“He won the Labour leadership standing against his brother, but with the support of the trade unions. He didn’t actually win the support of the rest of his party,” said Osborne.“He won the Labour leadership standing against his brother, but with the support of the trade unions. He didn’t actually win the support of the rest of his party,” said Osborne.
Yes, but did he backstab his brother?Yes, but did he backstab his brother?
“Well he stood against his brother and used deals with the trade unions to get himself into office.”“Well he stood against his brother and used deals with the trade unions to get himself into office.”
Is that backstabbing?Is that backstabbing?
“Well, of course it’s backstabbing,” said Osborne.“Well, of course it’s backstabbing,” said Osborne.
“It goes to the question of the judgement of a man who wants to be our prime minister.”“It goes to the question of the judgement of a man who wants to be our prime minister.”
George Osborne repeats back stabbing charge against Ed Miliband - "Of course it's back stabbing" @MarrShowGeorge Osborne repeats back stabbing charge against Ed Miliband - "Of course it's back stabbing" @MarrShow
Harriet Harman and George Osborne had a brief conversation sitting along side each other on Marr’s sofa, a good opportunity for Osborne to point out that the pair actually went to the same school (St Pauls), “so the posh boy attack always sounds a bit thin coming from her.”Harriet Harman and George Osborne had a brief conversation sitting along side each other on Marr’s sofa, a good opportunity for Osborne to point out that the pair actually went to the same school (St Pauls), “so the posh boy attack always sounds a bit thin coming from her.”
"Harriet and I went to the same school," says Osborne (St. Pauls). Not the first time he's used that line on Marr."Harriet and I went to the same school," says Osborne (St. Pauls). Not the first time he's used that line on Marr.
Updated at 3.49pm BSTUpdated at 3.49pm BST
10.07am BST10:0710.07am BST10:07
Osborne struggles to explain how £8bn for NHS would be fundedOsborne struggles to explain how £8bn for NHS would be funded
George Osborne, chancellor of the exchequer, has just appeared on the Marr show. Andrew Marr pressed him on yesterday’s Tory pledge to find an extra £8bn for the NHS.George Osborne, chancellor of the exchequer, has just appeared on the Marr show. Andrew Marr pressed him on yesterday’s Tory pledge to find an extra £8bn for the NHS.
“It’s part of our balanced plan”, said Osborne, when asked where the money was coming from. “That’s not really an answer,” responded Marr.“It’s part of our balanced plan”, said Osborne, when asked where the money was coming from. “That’s not really an answer,” responded Marr.
“We have always said we supported the NHS’s own plan for its sustainable future, so we offer the best health care in the world and the best medicines ... and because we have that balanced economic plan and because we are prepared to take difficult decisions in other parts of government we can go on increasing the money to the NHS.”“We have always said we supported the NHS’s own plan for its sustainable future, so we offer the best health care in the world and the best medicines ... and because we have that balanced economic plan and because we are prepared to take difficult decisions in other parts of government we can go on increasing the money to the NHS.”
Marr interjected: “if you’re not going to tell me where the money’s coming from, I’ll tell you where the money’s coming from. It’s going to come from even deeper cuts in the unprotected departmental spending budget of around 14% in total, so you’re going to hit the police, you’re going to hit the armed forces and you’re going to hit local government to pay for this.”Marr interjected: “if you’re not going to tell me where the money’s coming from, I’ll tell you where the money’s coming from. It’s going to come from even deeper cuts in the unprotected departmental spending budget of around 14% in total, so you’re going to hit the police, you’re going to hit the armed forces and you’re going to hit local government to pay for this.”
“We have to make similar savings each year, as we’ve made inthe five years of this parliament for two years. Let’s finish the job,” said Osborne.“We have to make similar savings each year, as we’ve made inthe five years of this parliament for two years. Let’s finish the job,” said Osborne.
Twitter didn’t seem too impressed with Osborne’s answers, though they were pretty positive about Marr’s questioning.Twitter didn’t seem too impressed with Osborne’s answers, though they were pretty positive about Marr’s questioning.
Best questioning from #Marr in years. No answer, but rightly robust on Osborne's refusal to spell out where £8bn for NHS comes from. #GE2015Best questioning from #Marr in years. No answer, but rightly robust on Osborne's refusal to spell out where £8bn for NHS comes from. #GE2015
Marr very punchy this morning, almost as if he's eaten three Shredded WheatMarr very punchy this morning, almost as if he's eaten three Shredded Wheat
Apparently £8bn for NHS comes out of thin air because 'that's what happens when you have a sensible plan', says Osborne #marrApparently £8bn for NHS comes out of thin air because 'that's what happens when you have a sensible plan', says Osborne #marr
Plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #planPlan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan #plan
Updated at 3.48pm BSTUpdated at 3.48pm BST
9.47am BST09:479.47am BST09:47
Deputy Labour leader Harriet Harman has just been on the Marr show, speaking about her party’s plan to raise £7.6bn by cracking down on tax evasion and avoidance.Deputy Labour leader Harriet Harman has just been on the Marr show, speaking about her party’s plan to raise £7.6bn by cracking down on tax evasion and avoidance.
She was quizzed about possible coalition deals. She said that Ed Miliband had made it clear that there would be no SNP ministers in a future Labour government.She was quizzed about possible coalition deals. She said that Ed Miliband had made it clear that there would be no SNP ministers in a future Labour government.
“Scotland needs to be liberated from the austerity that is being imposed by a Tory-led government and a Tory prime minister,” she said. “And that is going to be the big choice that faces people, not only in England and Wales, but also in Scotland.”“Scotland needs to be liberated from the austerity that is being imposed by a Tory-led government and a Tory prime minister,” she said. “And that is going to be the big choice that faces people, not only in England and Wales, but also in Scotland.”
Marr asked her whether Labour was speaking to the Liberal Democrats about possible future coalitions. “Absolutely not,” she responded. “We’ve spent the last five years opposing the bedroom tax, while the Liberal Democrats have been going through the division lobbies voting for it,” she said, adding that Labour was determined to win seats from the Lib Dems.Marr asked her whether Labour was speaking to the Liberal Democrats about possible future coalitions. “Absolutely not,” she responded. “We’ve spent the last five years opposing the bedroom tax, while the Liberal Democrats have been going through the division lobbies voting for it,” she said, adding that Labour was determined to win seats from the Lib Dems.
“We are not talking to the Lib Dems, we are not doing any deals with the Lib Dems.”“We are not talking to the Lib Dems, we are not doing any deals with the Lib Dems.”
Updated at 3.48pm BSTUpdated at 3.48pm BST
9.33am BST09:339.33am BST09:33
Green party leader Natalie Bennett has just been on the Marr show. The Green Party has today announced plans to raise the top (additional) rate of income tax to 60%. The top rate of tax, which was lowered to 45% by the coalition, only affects the top 1% of earners.Green party leader Natalie Bennett has just been on the Marr show. The Green Party has today announced plans to raise the top (additional) rate of income tax to 60%. The top rate of tax, which was lowered to 45% by the coalition, only affects the top 1% of earners.
Bennett was asked whether she thinks the deficit is actually a problem.Bennett was asked whether she thinks the deficit is actually a problem.
“What we think is that there has been an undue focus on the deficit and less of the consideration of the kind of society we need to have,” she said.“What we think is that there has been an undue focus on the deficit and less of the consideration of the kind of society we need to have,” she said.
She said that the party’s manifesto, which they will release next week, will include plans to reduce the deficit over the course of the parliament.She said that the party’s manifesto, which they will release next week, will include plans to reduce the deficit over the course of the parliament.
Marr said that the we are spending £30bn in debt interest payments. Bennett responded that HMRC’s conservative figures suggest that tax avoidance is costing £34bn, and that the party’s wealth tax plans could raise £25bn. She said the 60p tax rate announced today would raise about £2bn, which she admitted wasn’t much, but said it was about recognising that “some people are taking too much out of our society, they need to pay back.”Marr said that the we are spending £30bn in debt interest payments. Bennett responded that HMRC’s conservative figures suggest that tax avoidance is costing £34bn, and that the party’s wealth tax plans could raise £25bn. She said the 60p tax rate announced today would raise about £2bn, which she admitted wasn’t much, but said it was about recognising that “some people are taking too much out of our society, they need to pay back.”
It’s the day after the Grand National and Bennett was pressed on the Green party’s opposition to horse racing on grounds of animal cruelty. She said the party wanted a review of all course and greyhound racing and a “whole range of broader issues of animal protection”. “There are clearly animal protection issues there that need to be addressed,” she added.It’s the day after the Grand National and Bennett was pressed on the Green party’s opposition to horse racing on grounds of animal cruelty. She said the party wanted a review of all course and greyhound racing and a “whole range of broader issues of animal protection”. “There are clearly animal protection issues there that need to be addressed,” she added.
Updated at 3.48pm BSTUpdated at 3.48pm BST
9.16am BST09:169.16am BST09:16
Here is a little more detail on that Labour announcement. A briefing note from the party says that Ed Balls will give the Treasury and HMRC warning that on the first day of a Labour government there must be:Here is a little more detail on that Labour announcement. A briefing note from the party says that Ed Balls will give the Treasury and HMRC warning that on the first day of a Labour government there must be:
He will also ask the Bank of England to focus on risks from the informal economy, including avoidance, evasion and the tax gap, in delivering its financial stability objective.He will also ask the Bank of England to focus on risks from the informal economy, including avoidance, evasion and the tax gap, in delivering its financial stability objective.
David Gauke, financial secretary to the Treasury, has responded to Labour’s announcement.David Gauke, financial secretary to the Treasury, has responded to Labour’s announcement.
Ed Miliband and Ed Balls turned a blind eye to aggressive tax avoiding and evading for 13 years when they were in charge - they were the tax avoiders’ friends.Ed Miliband and Ed Balls turned a blind eye to aggressive tax avoiding and evading for 13 years when they were in charge - they were the tax avoiders’ friends.
We have taken action as part of our balanced plan to reduce the deficit - clawing back £7 billion per year in lost revenue by forcing the wealthy to pay stamp duty on property, making sure bankers pay higher tax rates than their cleaners and ensuring big global companies pay their fair share of tax. And we will go further and claw back another £5 billion in the next Parliament.We have taken action as part of our balanced plan to reduce the deficit - clawing back £7 billion per year in lost revenue by forcing the wealthy to pay stamp duty on property, making sure bankers pay higher tax rates than their cleaners and ensuring big global companies pay their fair share of tax. And we will go further and claw back another £5 billion in the next Parliament.
Ed Miliband has no economic plan to secure Britain’s future - and it’s hardworking taxpayers who will pay the price.Ed Miliband has no economic plan to secure Britain’s future - and it’s hardworking taxpayers who will pay the price.
We’ll hear more from Gauke later on when he appears on the Sunday Politics after 11am.We’ll hear more from Gauke later on when he appears on the Sunday Politics after 11am.
Updated at 3.49pm BSTUpdated at 3.49pm BST
9.09am BST09:099.09am BST09:09
Morning briefingMorning briefing
Good morning and welcome to the Sunday edition of the Guardian’s live election campaign blog.Good morning and welcome to the Sunday edition of the Guardian’s live election campaign blog.
We will be live blogging everyday in the run up to the general election on 7 May, bringing you the latest political news and views.We will be live blogging everyday in the run up to the general election on 7 May, bringing you the latest political news and views.
I’m Frances Perraudin and you can email me on frances.perraudin@theguardian.com, tweet at me on @fperraudin and leave comments below. Hints and tips are welcome!I’m Frances Perraudin and you can email me on frances.perraudin@theguardian.com, tweet at me on @fperraudin and leave comments below. Hints and tips are welcome!
The big pictureThe big picture
Today the two main political parties seem to be reverting to type. The Conservative party has announced plans to take family homes out of inheritance tax by introducing a new allowance effectively increasing the threshold to £1m, while Labour has announced it will push emergency laws on tax avoidance through parliament designed to raise more than £7.5bn a year.Today the two main political parties seem to be reverting to type. The Conservative party has announced plans to take family homes out of inheritance tax by introducing a new allowance effectively increasing the threshold to £1m, while Labour has announced it will push emergency laws on tax avoidance through parliament designed to raise more than £7.5bn a year.
You can read the Guardian’s report on the Tory announcement here, and on the Labour announcement here.You can read the Guardian’s report on the Tory announcement here, and on the Labour announcement here.
Liberal Democrat leader Nick Clegg and David Laws, the chair of the party’s manifesto group, will set out the party’s plans to tackle the deficit at a press conference around 10.30. He is expected to promise that there is a “light at the end of the tunnel” and say the party’s plan has “a heart as well as a brain”.Liberal Democrat leader Nick Clegg and David Laws, the chair of the party’s manifesto group, will set out the party’s plans to tackle the deficit at a press conference around 10.30. He is expected to promise that there is a “light at the end of the tunnel” and say the party’s plan has “a heart as well as a brain”.
Clegg will spell out plans for a consolidation totalling £27bn by 2017-2018, made up of £12bn in additional tax, £12bn in public spending reductions and £3bn in welfare cuts.Clegg will spell out plans for a consolidation totalling £27bn by 2017-2018, made up of £12bn in additional tax, £12bn in public spending reductions and £3bn in welfare cuts.
You can read the full story here.You can read the full story here.
What’s on todayWhat’s on today
George Osborne and Harriet Harman are among the guests on the Andrew Marr show at 9am. The Liberal Democrats will announce their deficit reduction plans around 10.30. Danny Alexander and David Gauke will be on the Sunday Politics from 11am. Pienaar’s Politics will running for an extended two hours from 10am on 5live.George Osborne and Harriet Harman are among the guests on the Andrew Marr show at 9am. The Liberal Democrats will announce their deficit reduction plans around 10.30. Danny Alexander and David Gauke will be on the Sunday Politics from 11am. Pienaar’s Politics will running for an extended two hours from 10am on 5live.
I’ll post a list of some of the best of today’s political comment shortly.I’ll post a list of some of the best of today’s political comment shortly.
Updated at 9.14am BSTUpdated at 9.14am BST