AXE RICH TAX BREAK; Tory think-tank blasts Cam inheritance plan.Byline: JASON Jason, in Greek mythology Jason, in Greek mythology, son of Aeson. When Pelias usurped the throne of Iolcus and killed (or imprisoned) Aeson and most of his descendants, Jason was smuggled off to the centaur Chiron, who reared him secretly on Mt. Pelion. BEATTIE DAVID Cameron was facing a revolt yesterday over his plan to cut taxes for Britain's 3,000 wealthiest people. The Tory leader will go into the next election promising to slash inheritance tax inheritance tax, assessment made on the portion of an estate received by an individual; it differs from an estate tax, which is a tax levied on an entire estate before it is distributed to individuals. for the super-rich. The scheme would benefit the richest people in the country by at least pounds 200,000 each. But Mr Cameron's favourite think-tank says he is making a major blunder by sticking to the plan. Neil O'Brien, of Policy Exchange, said unless the Tories ditch the tax cut they will give the impression that helping their "toff" friends is more important than funding public services. "The Conservatives should drop it," said Mr O'Brien. "It would send the vital message that the country is going bust. "That would allow them more room to level with the public about the truly horrific situation they will inherit. The Tories, therefore, need to take a long, hard look at their plans. Some, such as extra spending on education for deprived kids, or the 'right to move' for council house tenants, can be kept, because they are funded out of savings elsewhere. "But they should sacrifice something to convince the voters just how bad things are." Liam Byrne, chief secretary to the Treasury The Chief Secretary to the Treasury is the second most senior ministerial position in HM Treasury, after the Chancellor of the Exchequer. The office holder is usually given a junior position in the British Cabinet. , said: "Labour's campaign against Tory cuts is clearly hitting home. Even David David, in the Bible David, d. c.970 B.C., king of ancient Israel (c.1010–970 B.C.), successor of Saul. The Book of First Samuel introduces him as the youngest of eight sons who is anointed king by Samuel to replace Saul, who had been deemed a failure. Cameron's favourite right-wing think-tank now believes he is wrong to give pounds 200,000 to just 3,000 of the wealthiest estates." CAPTION(S): REVOLT David Cameron |
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