A PROPOSAL to fund the welfare state with a 100 per cent inheritance is a “crackpot” idea that should be “flat out ignored”, a leading expert has warned.
Mr O’Connell told Express.co.uk: “This is just yet another crackpot policy idea from the loony-left and should be flat out ignored.
Calls for a 100 per cent inheritance tax have prompted a huge debate
“For many hard-working ordinary people, building a legacy for their children and grandchildren is a key reason they get up to go to work every day, but on too many occasions that legacy disappears when the taxman comes knocking at their door.”
It comes following a comment piece in the Guardian by Abi Wilkinson restating the idea of a 100 per cent inheritance tax, arguing there are “strong, practical reasons for making essential public services free at the point of access” which could be met by a complete tax on inheritance.
Dealing with inheritance can often be met with complications
Inheritance tax is already an unfair and immoral double tax, that hits families at the worst possible time
She writes: “Morally speaking, people who stand to inherit large sums haven’t done anything to earn that money.
“Is there any situation in which the previous instructions of someone no longer actually present in the mortal realm should be prioritised over the needs, interests and opinions of those who are still alive and kicking?”
Ms Wilkinson has provoked a backlash with Ben Southwood, Head of Research at the Adam Smith Institute, saying there are some parts of the comment piece she is “simply wrong”.