Thursday, 2 March 2017
Budget 2017: the Tories want to line the pockets of their rich friends again
Wednesday at the budget, the Tories want to line the pockets of their rich friends again.
They want to cut inheritance tax for the wealthy;
a tax cut on houses sold above £650,000.
This Osborne-era policy will cost £1billion to the Exchequer and almost none of that will come to Hyndburn.
Last year in Hyndburn just 12 homes were sold for over £650,000
In Theresa May’s Maidenhead constituency, 315 families sold their homes for over £650,000. In the Cities of London and Westminster 1,462 properties were sold for over £650,000 and in Chelsea 1,030.
This is a tax cut for millionaires that benefits next-to no-one in Hyndburn, paid for by cuts to local services; the police, the elderly, schools, the vulnerable, council services etc...