The madness of David Cameron's top priority to give £200,000 to the richest 3,000 people in the country by cutting inheritance tax was highlighted this afternoon by Gordon Brown when he said so few people would benefit that some Tory MPs would personally know almost every one of them by name.
Mr Brown ridiculed the Tory plan which would widen the gap between rich and poor.
He said an estate of £1 million would benefit by £120,000. An estate of £1.5 million by £320,000 and an estate of £2 million by £520,000.
He described it was "the most regressive policy you can imagine where 99% of the benefit goes to the richest few in our country. The typical constituency will have only five people who benefit."
"The biggest group of beneficiaries are in one area of the country, Kensington and Chelsea, which of course includes Notting Hill...(er, home to David Cameron and George Osborne)...
The House erupted when Mr Brown added: "This must be the only tax change in history when the people proposing it, the leader of the opposition and the shadow chancellor, will know by name almost all of the potential beneficiaries..."
Wednesday, November 18, 2009
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