Ryan Bridge: Labour should steer well clear of an inheritance tax

I'm always a little bit paranoid about what governments are planning and what kind of taxes that they're scheming up. 

Look at the UK, which recently elected Labour and Sir Keir Starmer as Prime Minister.

They are talking about the potential of fiddling with their inheritance tax. 

They have one, we don't. On Heather's show yesterday we heard about the Labour Party in New Zealand weighing up whether to introduce one. 

I hate the idea of it. In the UK it's 40% and they paid £7.5 billion in death duties last year, which is a huge increase and this is largely because property prices have gone up. 

Governments all over the world are running out of money and they're running out of ways to tax people, and this one's quite appealing to a lot of them. 

If you look at the UK in particular, the number paying death duties is expected to jump from 33,000 this year to nearly 44,000 by the end of the next Parliament. 

That is a very tempting number for a government that needs new ways of finding revenue. And this is obviously the post war baby boomer generation now approaching the average life expectancy. 

So look out for governments all around the world as they'll be looking at ways to tax us more. I'm not saying it's going to happen here, obviously there was a hint that Labour might be planning something. 

I don't like the idea of this. Keep out of our business, please. 

If somebody is dying in your family, the last thing you want to think about is the 40% you got to pay to the tax man, right? 

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Episode Transcript

Speaker 1 (00:00):
Right. It has just gone twenty seven minutes after five year.
On news Talk, said b I'm always a little bit
paranoid about what governments are planning and what kind of
taxes that they're scheming up. And if you look at
the UK, which is of recently elected governments, one of
the few that sort of has a mandate and is
actually functioning. I mean, look at France, or look at
the lame duck president in the United States. However, if

(00:21):
you look at the UK and Cares Starmer, they are
talking about and it is just muffles and quiet, secret
little meetings that have been reported in the press. The
potential for an inheritance fiddling with their inheritance tax. They
have one, we don't. On n Heather's show yesterday they
were speaking about with Jeff Nightingale about the potential for

(00:41):
our Labor Party to introduce one. I hate the idea
of it. In the UK it's forty percent and they
paid seven out of a half billion pounds and death
duties last year, which is a huge increase. And this
is largely because property prices have gone up. And what
governments all over the world are doing is running out
of money and they're running out of ways to tax people,

(01:03):
and this one's quite appealing to a lot of them.
And if you look at the UK in particular, so
the number paying death duties is expected to jump from
thirty three thousand this year to nearly forty four thousand
by the end of the next parliament. And that is
a very tempting number for a government that needs new
ways of finding revenue. And this is obviously the post

(01:26):
war baby boomer generation now approaching, you know, the average
life expectancy. So look out, governments all around the world
will be looking at ways to tax us more. I'm
not saying it's going to happen here. Obviously, there was
a hint on here this show yesterday that labor might
be planning something. I don't like the idea of this.
I think, just keep out of our business please, And

(01:47):
if somebody is dying in your family, the last thing
you want to think about is the forty percent you've
got to pay to the tax man. Right, We're coming
up to News after that, we are going to talk
about Pseudoe for Dream and star blowing up in the sky.
All a hid For more from News Talk set B
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(02:10):
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