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Monday, August 21, 2006

I'm A Bit Stuffed Between Pillar And Post On This...

RailTrack liar gets toughStephen Byers has shocked the Party with his suggestion that inheritence tax should be abolished completely. In terminology well to the right of the hoodie-hugger Cameron, he called the tax "a penalty on hard work, thrift and enterprise".

My position on this one is a bit difficult.

1. Byers is a Tony man, through and through.
2. Byers is a mortal enemy of Gordon, who is certain to be the next Great Leader.
3. Total abolition would benefit filthy rich people such as Tony.
4. Raising of the threshold would be a better approach for less filthy rich people such as Gordon and myself.
5. Alistair Darling, when asked, discussed the matter purely in terms of fiscal impact, setting the tone for internal Party debate by showing absolutely no political principles on the subject one way or the other.
6. I want to make sure Jed Augustus can inherit a good pile when Linda and I depart.

It's a toughie. My instinct is that abolition is wrong, but a threshold increased to £400,000 would help stop this tax hitting people like me who are not mega-rich and who it was not intended to hit. I'm sure if I work at it I'll be able to flesh out a line that steers clear of taking a position either way and avoids sounding too flabby.

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