Susanna Questions Pat McFadden on Labour's Inheritance Tax Plans
ฝัง
- เผยแพร่เมื่อ 2 ต.ค. 2024
- Labor is considering an inheritance tax rate to redistribute wealth if it gets into power, according to a leaked recording from Shadow Chief Secretary Darren Jones.
Susanna questions Pat McFadden, Labour’s National Campaign Coordinator, about Labour's inheritance tax plans.
Broadcast on 03/07/24
Stream Good Morning Britain live, every weekday from 6am on the ITVX 📲 daytimelink.itv...
Subscribe now for more! bit.ly/1NbomQa
Like, follow and subscribe to Good Morning Britain!
The Good Morning Britain TH-cam channel delivers you the news that you’re waking up to in the morning. From exclusive interviews with some of the biggest names in politics and showbiz to heartwarming human interest stories and unmissable watch again moments.
Join Susanna Reid, Ed Balls, Kate Garraway, Richard Madeley, Charlotte Hawkins and Sean Fletcher every weekday on ITV from 6am until 9 every weekday!
ITVX: daytimelink.itv...
Website: bit.ly/1GsZuha
TH-cam: bit.ly/1Ecy0g1
Facebook: on. 1HEDRMb
Twitter: bit.ly/1xdLqU3
www.itv.com
#GMB #labour #generalelection #tax #inheritancetax
My son is disabled. I want to leave money to him. I can’t trust the government to look after him.
No!
You'll be able to pass down £500,000 if it includes your house (Assuming you're single). A couple can pass 1million to children tax free.
I reckon your disabled child will be ok.
If he is long term disabled it might be worth looking at a disabled person's trust.
@@nic47531that is what the conservatives put in place, I think the lady is worried that Labour will change that and leave her son vulnerable. A nursing home for the elderly or disabled child cost at least a thousand pounds a week so money taken a lifetime to earn and save goes very quickly when you have to pay for care that you are happy with.
@@mistyqqq that's why you leave the money to a trust for a disabled person's. It protects it somewhat.
@@mistyqqq I very much doubt inheritance tax rate will be increased for single people with less than 500k assets. Iht isn't the best way to increase tax take
Is this woman off her rocker? Why should your hard earned money go to anybody other than your children or chosen ones??! Wild claims
Inheritance Tax shouldn't be for "hard earned" money, it should be aimed at the super rich and their obscene amount of wealth gained from exploiting working class people and this country.. The threshold needs raising, and loopholes closing so the super rich can't wriggle out of paying this wealth tax!
Money that you’ve ALREADY PAID TAX ON 🤨
Rising tax will only hurts the middle class. Rich people have all means to avoid inheritance tax, setting a trust or company in Cayman Islands etc.
She didn't say it was her preference, She asked a question.
@@einsam_aber_frei One of those things isn't an option anymore.
Labour had better not tax inheritance. My wife and I have worked hard all our lives to put something away for our children. This money has already been taxed when it was paid to us as part of income we earned. The fact we chose not to drink or smoke and be frugal to set our children up for their lives means Labour had better not tax that money again.
Only the top 10% pay it, if they pay inheritance tax, your dependants would already have more than enough to put themselves on a solid footing. The tax is a % of anything over the threshold, which provides services they can also utilise, so it's not really an issue is it.
@@ashjenveyyou don’t decide what’s enough to be on a solid footing for my children . I do.
No you are wrong at the moment inheritance tax is payable of a estate worth over£ 350 000 my mums house was sold for£250.000 she had £50.000 in the bank we were told that we were £50 .000 under for paying tax
@user-ue9bi2ui2q it's a tax, not a cap. Just give them more if you feel you have to, and as a democracy, we agree as a collective, that a percentage of that should go to contribute to shared services for all.
But 15 years of average salary can be passed tax free, when most boomers have had a lot of wealth gains not directly from working that they are passing to their children seems fair to tax it to me and provide universal education, healthcare etc which they will benefit from.
@@ashjenvey
1. It’s a tax not a cap - my comment was in response to yours saying that my children “already have enough”. I never said it was a cap.
2. We agree as a collective - no actually we don’t and democracy is about differing opinions not forcing collective agreement. I don’t agree and I’m sure many others don’t either.
3. There are plenty of other better sources of income for the government from a financial perspective . They use inheritance tax for its POLITICAL significance to score points with people who hate those more financially successful than them not because it makes them a lot of money to fund public services.
All your feigning being a reasonable and intelligent person isn’t going to fly here sonny. I’m not a boomer either .
It's an abhorrent tax that doesn't affect the rich, but is advertised as doing so. The UK is a disgusting country when it comers to tax
You're already taxed when you earn it, then they wanna tax you when you die, if you've worked hard all your life that should go to your children rather than the state stealing it back. Inheritance tax feels truly immoral
That is true for ordinary people but the wealthy have all manner of tax breaks and benefits so why not tax them at the end to make it more equal to the ordinary person?
Your estate has to be worth over £325,000 before you are subject to inheritance tax. People are dying on the streets of our country as a result of homeless, poverty, and substance abuse and you are concerned over old people hoarding hundreds of thousands of pounds in wealth having to pay a bit of tax on the money that they could have spent while they were alive?
People (who will be handing down houses, money, etc) will stop giving money to charity in their wills if this is true because they'll be hit with a hefty tax. Typical Labour
@@Raw_Fiction It's £500,000 for a relative and you can use both parents allowances making it 1 million also both my and my wife's SIPP is exempt till were 75
@Raw_Fiction that really doesn't justify anything if you worked hard and been disciplined with your money you should be able to whatever you want with your own money that you worked for nobody gives out money just like that you so why should you do the same
Get rid of inheritance tax
Vote for Reform UK. Labour and its socialist gangs would only raise tax.
That will be stealing inheritance taxes from people who have worked hard , why should inheritance it go some individuals who never worked in their lives? Inheritance shouldn't be taxed at all , public already paid their taxes while working .
It comes from the telegraph, surely you understand which way they swing
There is Inheritance tax already exists, cause when my Grandma died , when my family sold her house, cause it was over the threshold, -Tax , they took £135,000 just like that,
Exactly. I see the lazy shites in my street, doing the bare minimum to get full benefits, council house with reduced rates, and drive around in a newish car, afford three kids, two dogs and endless takeaways.
Makes me so frustrated with the utter unfairness.
reform uk tax free inheritance and no men in ladies and young girls men free zone
@@Woodkin007 aim your frustrations at the billionairs taking hand outs from the government maybe, benefit fraud is at an all time low
I'll give Labour 18 months to 2 years before the country turns against them.
That long
Not even Labour voters like Starmer and that’s before we’ve had the result 😂
Within which time Rayner will be your Prime Minister. The Left is using silent Starmer (yes, it really is that bad) to walk into Downing Street, assuming that the Country is mad enough in sufficient numbers to vote Labour.
I'll give it a week tops.
You are aware of the fixed term parliament act that dodgy introduced
My inheritance is the only thing thats going to get me through my old age. I cant afford to pay off my mortage and cant afford a pension plan.
Parents work hard and pay for their homes with AFTER TAX income.
When they die, why can't they leave it for their family? Why should the government feel it's theirs to take and possibly impoverish the parents children?
It's legalised theft, plain and simple.
Inheritance tax is an Abernant tax,it should be scrapped
They are robbers, we just had to pay £32,000 from selling our deceased brothers very modest 2 bedroom house. Disgusting to have to pay that. And you have to pay it before you sell the property or apply for probate !!!!
Socialism is based on envy.
Its meant to go to your children,didnt work a lifetime for some unknown dosser to benifit from my lifetime of work savings ,its kept for family ,no one else '
Well said 👍
Are there two "More Smug" presenters than this pair? Simply dripping with Wokery!
please reply what you think 'woke' & 'wokery' is.
100% horrible presenters
@@neilbower9052 Well in the case of these two, yes they seem to be very alive to issues of racial and social injustice but only when it's allegedly committed by the right of centre parties. The left get a free pass!
I'm pretty laid back but find them incredibly arrogant.
Dripping with BIAS
Vote reform!
i have an intellect, so i shall use it and vote accordingly
@@neilbower9052 So, reform it is then 👍
@@neilbower9052 Glad you will be voting Reform then ;-)
Are you madt, that's like another version of labour
@@jackthumberstone7935 No....Nigel says he'll stem the flow of illegal immigration, that would be good for the country.
its called stealing - that money / wealth has already been taxed,
Successive governments have poured 100's of billions into into right to buy, you also get huge tax breaks on pensions and savings and current IHT is 1 million for a couple so there's no reason to do much with it
One million for a couple? I thought it was 325K per person?
No it hasn't it mainly because the house prices rose beyond imagination. And the older generation blocking and refusing houses to be built.
Labour only party that will reform the planning system. HS2 wouldn't have gone over £100b if the NIMBY's didn't get their way.
@@lindabowman2868 The £1 million figure can only be achieved by married couples who decide to leave their entire estates to each other on death. Gifts to spouses are exempt so the first spouse to die would not use any of their available allowances. The survivor would then transfer the unused Nil Rate Band and RNRB to their estates.
Nil rate = 325k, RNRB = 175k * 2 = 1 million
also
SIPPS if the person dies before they are 75 they are tax free and don't count towards your nil rate allowance.
Is Susanna saying children don't deserve the inheritance from their parents, who worked hard and payed tax already, without being taxed again because they come from money? Not everyone is that privileged. Why can't they have the money their parents wanted to leave them?
THIS WOMAN IS NOTHING BUT WOKE WHY DOES THE GOVERNMENT THINK THEY CAN STEAL IT,CAUS THATS WHAT IT IS,THEFT
her toff parents will use solicitors to avoid inheritence tax
Champagne socialism on the rampage..? "Non of our plans include increasing taxes" Really.! And pixes live at the bottom of his garden. We Shall see.
under suntwat taxes have risen by £13,000 per household since 2019 tory boy. you happy with that?
@@neilbower9052 it's called the cost of living O you thought the money for the migrants falls from a money tree no it comes from you and me.
So you can't hand your wealth down to your children who haven't earned it but the government can take it and hand it down to strangers who haven't earned it. Once again Labour spending/ squandering other people's money.
The existence of Inheritance Tax does not in itself justify its existence. It is an iniquity that property, upon which taxes have already been amply taken, a further theft should be made by the state. The only just action the next government should take is to abolish inheritance tax.
I don't think it's fair for to save up all your life for your kids, thenfor the government to take it off them.
If you care about your finances and the future of this country, vote REFORM!
never mind labour vote reform
Führage's fascists? no thanks
@@kanedNunable Do you know what Fascist means. Look it up and see which party comes closest.
@@bwilliams572 it's obvious you don't know little fella
@kanednunable vote labour end up with khan PM
@@neilbower9052 Don't know which little fella ? Who's that then ?
That whole interview should be taxed... about 90% of it was pure drivel!
These tax plans will only affect the top 4% in the country, how long have you been one of them?
I wouldn’t worry about leaving anything to your children
If the tax man doesn’t take i, health care will
So my advice is spend it
There are always ways around it, you have just have to think ahead and you don't have to pay inheritance or health care.
If you take the duty of care for a parent , you should be left the money, people don't know you can protect the money so they cannot take it, often disregards are put in place for older children who take the duty of care, such as a property disregard, or certain disregards, you could get a property disregard so if you do in care they cannot take it.
Yes my mother is spending 54k a year for care ,her bungalow that she and my dad worked all their lives for is being sold ,meanwhile the money saved foes towards freebies for immigrants ,my contempt for government cannot be expressed
How does Labour intend to grow the economy if they attack business and wealth creators? 🤔
They have not answered ANY questions about HOW they will achieve their goals!!
Yes. We employ 130 people in our Industrial cleaning company. Of course we employ 90 imigrants who work hard for next to nothing😅. But still I agree with you, the less tax I pay the more fun I have buying lovely things. Ahh we have a great life. Just last week I bought my daughter a Merc Sports for her 21 😊😊
more tax property equity tax
Of course Labour has a magic wand to increase growth.
Like the last time they were in power
It almost broke the Bank and the country
Get ready for very high Taxes if these get in power and they will stop Deportation of illegal immigrants
Think before you vote Labour
Can't stand Suzanna 😂😂
Inheritance tax is a tax on already taxed money. It’s completely unfair in my eyes 🤷🏻♂️
Money is taxed everytime it changes hands: income tax..vat. IHT is no different. I don't agree with it though.
I'm a working class lad made good having worked hard and saved all of my life. I don't expect any hand outs form the state. Now labour are gong to increase the tax my investments for any capital gains they have made, increase inheritance tax and maybe even tax any gains I might make on the sale of my house. In the meantime Starmer has received £70,000 plus in perks. What hypocrisy and what incentives are left to work of the good of family and country. The basic problem is the country does not earn enough to pay for all of the benefits that we moan about not having. We need to run the country as more efficient business. You think Labour can do that?
Susshanna reid is awful. She's a labour activist through and through.
I doubt it.
there extreme left
Vote reform on 4th july Get your independence from Labour and Conservative.
the multi millionaire ex city trader funded by billionaires man of the people?
i vote for political parties NOT a limited company led by a bigot
@@neilbower9052why is Farage a bigot? Any evidence?
@@neilbower9052 HA ha ha ha, you do realise ALL the Parties are limited companies...look at Companies House. Labour Uk Limited, The Conservative Party Foundation Limited, The Liberal Democrats Limited and The Green New Deal Party Limited.
You want to actually do your research rather than just listening to what the left wing media tells you. It's people like you that shouldn't vote.
@@neilbower9052why is he a bigot . Come on or is it because your a bigot yourself who hates this country .my guess is the latter .
Inheritance tax is the most disgusting tax going
Who the heck is this women to say increase inheritance is nog the general consensus,get lost.
Liebour nothing changes with them.
Again will only be taken from the poor and working class. The rich will just hire an accountant to avoid paying it.
you have to leave over 400k. how will be that poor? div.
@@kanedNunable It will effect more people than you think. The average house is worth over 350k If you avoid IHT you cop Capital Gains Tax, no mention of that i see.
@@kanedNunable Whats the average house price today smart guy....OH WAIT ITS NEARLY £300,000
You are not smart because you vote Labour
@@kanedNunablethere is no exemption on the family property.
most them vote liebour
Do You Want To Stop The Boats.....If Yes Vote Reform.🇬🇧
The topic is on inheritance tax today
They won't have ENOUGH votes I wish they would . If Keir starmmer gets in the boat s will arrive for sure and if you vote for reform you will still get starmmer
@@karenrustem5333 if you vote Toris you will get starmer remember Brexit they didn't think we had the votes then head high and pray we make history again under Nigel.
Labour just lost my Vote!! See ya…Reform for us now!!
Have you too much inheritance to lose? 😂
@@TheKevgray1 It is one of the biggest issues children can't get on - parents cannot leave everything to them so they can get on in life.
@TheKevgray1 he might but you have alot of food to lose.
Farmers can survive based on the relief it gets. Farmers can't afford it these days. 40%.
No farmers no food
To late you have done the damage nowe hope your happy voting for labour makes you a trater to this country
@sandrastewart2450 welcome to the third world country.
Was thinking of a name.
You reckon UKslim sounds good?
Anyhow doesn't matter get a second job so we can pay for them to come over.
If children did not earn it, then what of the Govt?
Another appalling dress , someone should tell her that she is merging too much with the background . Inheritance tax threshold hasn’t increased in years and yet average house prices in the south east have overtaken this . Don’t punish the kids that have parents that have worked and saved to provide a better life for their future . I believe that Reform have something to say about this .
The thought of a huge labour majority is pretty scary.
Vote REFORM.
Inheritance tax is immoral and if Labour introduce increased taxation that’s me and my wife emigrating.
Why didn't you ask Prat McFadden about Labours plans to Re-Band homes for council tax ? Lets see how smug the labour voters are when their council tax trebles. Vote Reform.
its property equity tax ref darren jones
@@SteveHitchcock-g3t They can call it what they like, they are going to re-band homes. I want to know if they are going resurrect Corbyns garden tax as well.
UK wasted £450bn on Covid 19.
its so depressing
Say that to the families of those that died. . One penny is wasted on people like you
@@PatriciaClarke-ce9th
Ferrets have one of the closest immune type to humans.
UK has roughly 500000 (half million) Ferrets.
Ferrets spread influenza to humans.
Not a single case of 1 Ferret contracting, spreading or dying of Sars Cov2.
Which animal has been chosen to test model CV19 vaccines on?
The Ferret.
@@PatriciaClarke-ce9th
SarsCov2 has never been isolated or replicated.
Have you seen a photograph of the SarsCov2 spike protein from under a microscope?
@@PatriciaClarke-ce9th
Each time you create a credit, you simultaneously create a debt, cancelling each other out.
In absolute terms, money doesn't exist.
You pay tax on your salary, you pay tax on fuel duty when you use that money to drive to the shop, you pay tax on the food that you buy in the shop. The shop pays tax on the profits of what you've bought. It then pays business rates and corporation tax. It's unsurprising that there's an inheritance tax as everything goes back to the government.
There should be no inheritance tax full stop
Smirking smug Labour politician.
The Davos darling will distribute wealth - from the poor to his Davos friends.
What's the point off working all you're life to look after you're family just for the Labour Party to take it all away. What's the point of working
Spend it all - give the bandits nowt!
The price of whatever you spend it on will include tax.......unless it's stolen goods or illegal drugs.
Work Hard pay your Taxes buy a Nice House (Pay Stamp Duty on it) which will increase in value (hopefully) and be Available for your children to inherit, but then they come along and take a big chunk of its value for the government coffers. The Growth ambitions are pie in the sky.
House prices don't always increase. I have a friend who's lost money on two house moves necessary for his job.
Very very different attitude in this interview compared to the one with nigel farage. Showing a bias!! Should be reported for it to.
Inheritance tax. The most evil of taxes. Money earned, tax paid. Passed to your family. Taxed again. No wonder the young have no chance of getting ahead. It’s not a tax on the rich. It’s a tax on everyone who owns something.
What a surprise, targeting the working class yet again
Can we scrap itv along with the bbc come friday?
I've just payed £198,000 inheritance tax. Who thinks thats right, and who thinks thats wrong?
Wrong. Vote Reform
Utterly wrong
Utterly wrong that money has already been taxed many times over
Modern states are becoming dictatorships through taxation. People are unaware of many laws although MPs are supposed to represent the citizens but in practice they don't.
Gaza events have really shown a limit to freedom of expression to the extreme where people are unable to show empathy and stop a genocide.
It's an abuse of power by the state.
The state has become the first party to inherit, then comes your will if you have one, then the intestacy law.
Theft
Cart wait to vote reform uk Labour is done they will not last long the UK has no need for anti British political party like labour so vote reform uk for a better future for British people enough is enough 🏴🏴🏴🇬🇧✝️
So you lot are going to vote for anyone on benefits will get only vouchers and Angela Rayner wants anyone with a spare room take in an illegal immigrant, forceably. You lot took enough of my families hard earned money, go take a hike.
This clearly shows that the presenters are stone cold labour. This is not a problem in itself but they should not be calling themselves impartial.
God help us....we are walking into a nightmare of a government!
Glad to see labour have the same uninspiring politicians as the tories god help us.
7M NHS waiting list.
Don't Trust
Labour
Say one thing and does another
Vote for Reform and take a black pen with you for voting
I always was suspicious of why they give us pencils when I asked they said it's so the ink doesn't run. 🙈
They laughed at reforms plan for inheritance tax but love this. It's because they are so out of touch with he common person
VOTE REFORM BEFORE ITS TOO LATE. HONOUR OUR VETERANS AND BE PROUD TO FLY OUR FLAG AGAIN
It's likely the gf will inherit the house we reside in in the next few years. If Labour get rid of the threshold we will be made homeless. Great. Hard working tax payers her parents and both of us.
Fools of gold 😂😂😂😂 vote Reform ❤❤❤❤
Susanna why wait till people die??? Why not just go straight into their bank accounts and savings and help yourself? They can afford it can’t they??
Susanna is not a bright person.
Don't put ideas in their heads!
Liebour take money you've worked for and fritter it away. Voting liebour is utter madness
It won't be the likes of politicians that get taxed, they won't be spreading their wealth to the poor, and they know all the loop holes to not pay. My advice is get a good accountant or financial advisor.
Wow what a great way to encourage people to work hard and be careful with their already taxed money in this country….NOT!!
Each time you create a credit, you simultaneously create a debt, cancelling each other out.
In absolute terms, money doesn't exist.
I'll give them 6 months then they will call an emergency budget and up your taxes will go and they'll blame theTories they are the same as those d
If you want Growth, you need to have a Low Tax Rate environment. As simple as that.
The only people who get a benifit from tax is the government, how many of the officials can actually say they have used tax to help this country.
what they are really good at is making sure we pay as much as possible and deliver as little as possible.
Not worth working hard all your life then.
Vote for The Reform Party !!
... no
@@luciansanchez8100yeah
Brexit was bad enough, reform is the next logical step to make things worse. Yay.
My parents worked hard all their lives and were taxed on all they earnt.......it is patently unfair to tax that money and instead of my parents passing it on to hsve it given to illegal immigrants
Anyone going to talk about the impact on farmers if they touch it?
How many Trillions of pounds would we have if Brown hadn't sold our gold.
Didn't he sell it at a discount price, too?
You know when Labour Politicians are lying. Their Lips Move
TAX TAX TAX TAX
WELFARE CUTS CUTS and more CUTS.
HEALTH SERVICE CUTS
LABOUR HURTS THE POOR.
TORIES ARE BAD BUT LABOUR ARE WORSE😢
I am absolutely in favour of inheritance tax. It's an easy way to redistribute some of the obscene amounts of wealth held by the few in this country.. however, I think the current threshold is far too low. This wealth tax should not be affecting working class people, as it does in some cases now.
I think the huge issue with the current inheritance tax system is that the super rich, which this tax should be aimed at, simply squirm around the rules and get away with not paying it. Leaving only the wealthy, working middle class who actually end up paying it!
We need a wealth tax in this country to address the issue of wealth inequality between working people and the super rich. I.T. is an already established method of doing so, being VERY poorly executed.
What on earth do labour know about growth!!!!
Nothing, there all low-T
@@Mike-bh4bh so right
Why isn't the strategy simply lower all taxes. So there is money circulating in the market.
This makes it attractive for foreign investors to invest in the Uk(and you can always make it harder for certain counties that don't align with our values).
The increase of companies will surely generate a lot of cooperate tax even if the rate is lower.
Inheritance tax only affects the rich and they have a multitude of ways to avoid this tax, bonds, give their children gifts before they die, sign over houses and property to their heirs all sorts. Inheritance tax should be renamed ( tax on those that didn’t plan the exchange of wealth)
Didn't know the turtle from "Over The Hedge" got into politics!? 🐢
Cashing in on co-vaccination injury denial!
Blair and Brown ready to step in
Disgusting from Labour!!
Labour don’t have a mandate from the British people.
2 in 3 voted against Labour.
Restore democracy, change the electoral system now to ensure the make up of parliament reflects the votes cast by the people.
So if taxes are not going to increase, how can all the promises from Labour be honoured, how will all the plans in their manifesto be financed??
Rich people do not pay IHT - they have accountants to make sure of that. Those who pay IHT will be the working class who have saved and paid off their mortgages. I hope that those affected are the ones who voted Labour and not other parties.
The State should not benefit from the death of one of it's citizens who has paid tax all their life. There should be no 'death-duties' whatsoever and while we're at it, there should be no stamp duty with the State taking money for no dam reason when one person sells their own house. We pay our taxes and that is enough, don't profit from our deaths, don't take what should be inherited by someone's children to help them live better than their parents. Stop trying to punish those who are responsible with their money to give to those who aren't. Labour always do this, they take from those who work their butts off to hand out welfare to those who happily take from the system and exploit it.
All tax payers should be protesting about increades in tax..why should our hard earned money go to people coming here illegally, then getting priority for health care, housing, dentists etc? Its costing this country a fortune to keep them, imagine how those billions could be spent on the NHS, policing and social care!
Many countries are spontaneously addressing limits on taxing the same money over and over. In the US its small amounts like gratuity payments or small transfers between friends that use paypal or the like. This idea of extreme taxation has been a hall mark of WEF's plan to redistribute global wealth starting with the poorest of tax payers around the world. This coupled with carbon taxes and even the unemployeed are forced to fund the world economic reset.
...so the WEF who want lower taxes and tariffs generally across the board, want to increase taxes? Makes no sense
WEF are now talking about taxing water!
Would not trust a word liebour say, thieves will always be thieves. Gift your property to your kids avoid the theft that is inheritance tax.
If they don’t hike your tax now they will borrow £Billions and you’re grandchildren will pay for it! ....it’s a Labour thing
"Why should the wealth you have amassed go to your children?"
Why should the teeth you have grown stay inside your mouth?