Does The Left Want To Raise Inheritance Tax by 100 Percent?

There is always, it seems, something in the news about the dreaded (in some cases for very good reason, in some cases simply because it is misunderstood) inheritance tax, and recently this has been no different. The most recent discussion – one that has been branded ‘immoral’ by many, comes from the Left, and suggests that inheritance tax rates should be doubled.

John O’Connell, chief executive of the TaxPayers’ Alliance, has called IHT ‘unfair and immoral’ in the past, and this new idea is, he says, a ‘crackpot policy’. He wants everyone to simply ignore it, but due to the outrage it has stirred up this may even be impossible now.

Left Want 100 Percent IHT Rise 300x199 Does The Left Want To Raise Inheritance Tax by 100 Percent?

The reason behind Labour’s suggestion that inheritance tax is increased so dramatically is that it would be used to fund social care, something which, everyone would have to agree, is severely underfunded. This doubling of inheritance tax would mean that almost all social care could be free at the point of access, much like the NHS. However, increasing inheritance tax, which already sits at 40 percent of anything on an estate over £325,000, seems a rather clumsy and unfair way to do it to many people.

What do you think? Should people benefit simply because a relative happened to have a house that was worth a fair amount of money? Or should that wealth be evenly distributed through the social care system to enable everyone access to the care they need when they need it?

Should someone’s will override the need of those who are living? Or should the wishes of the recently deceased always be taken into account? 

Deaths Up In The Last Decade

Alzheimers Rates Are Up 300x224 Deaths Up In The Last Decade

According to research by the Office of National Statistics, deaths in the UK in the last decade have risen dramatically. This is, apparently, due to a rise in dementia and Alzheimer’s related deaths, as well as flu becoming more and more virulent. This is especially true of the flu virus A(H3N2), which kills a number of older people in the UK every year. The flu vaccine is less effective every year, and with outbreaks in care homes it becomes worse all the time.    

In 2015, there were 529,613 registered deaths in England and Wales, which is a 5.6% increase from 2014. Of those deaths, 86 percent occurred in people over 75.

Life expectancy is currently at 79.3 years for men and 82.9 years for women. This has fallen by 0.2 years for women and 0.3 years for men.

Most of these deaths happened in the first few months of the year, due to the weather and the fact this this is the time that the flu virus attacks most strongly. Hospital admissions are up at this time, putting a strain of the NHS’s infrastructure.

Deaths with Alzheimer’s as the underlying cause are at a 5 year high.

This is one of the reasons why it is so important to write a will, and keep it as up to date as possible. With the death rate for those over 85 rising steadily, and with Alzheimer’s cases growing in number, having a will is an essential part of anyone’s life. 

Ipswich Hospital Receives Generous Donation

Many wills contain charitable donations – it can be a wonderful way to give back (literally) something to a cause that has helped you or a family member, or one that you feel particularly strongly about. It can be anything from a few pounds to a large percentage of your estate. The choice is yours.

Recently, a man named Peter Gibbons, did just that. He decided to leave money in his will to Ipswich Hospital since they had treated him for heart disease, and made the last few months of his life more comfortable. Mr Gibbons was a former second hand car dealer, and he left a massive £1.5 million to the hospital.

Ipswich Hospital 300x225 Ipswich Hospital Receives Generous Donation

Friends of Mr Gibbons were not surprised when they heard what he had done – he had always had good things to say about Ipswich Hospital. He had been in and out of their care many times in the six years prior to his death at age 90, and he had never had a bad experience. What Mr Gibbons’ friends were surprised about was the amount of money he had left the hospital; none of them had any idea he was worth so much. They had always considered him ‘thrifty’, and although there were rumours about how much money he had, they had never seen any evidence of it.

A spokesperson for the hospital confirmed that the £1.5 million was the biggest donation they had ever received, and that it would go on to help many thousands of people who needed the hospital’s help. Four wards are now due to be renovated – including the children’s ward – and the rest of the money will go towards various smaller projects. 

Mr Gibbons had a kind heart 300x173 Ipswich Hospital Receives Generous Donation

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