Only UKIP has a fully funded and costed plan to SCRAP inheritance tax altogether over the course of the next parliament. As a matter of principle we believe that assets purchased out of taxed income should not be taxed again in death.
We do not need to raid pensions pots to pay for our plan either because we are cutting politically correct and vanity spending programmes; foreign aid, EU contributions, HS2, the Barnett Formula - saving more than £25bn per annum by the middle of the next parliament says UKIP Economics Spokesman Patrick O'Flynn.
Cameron and Osborne have been promising a £1m inheritance tax threshold since autumn 2007 - more than seven years. They have blamed the Lib Dems for the lack of action in government but in fact they did not bother to fight to include the pledge in the coalition agreement and Osborne has left the inheritance tax allowance marooned throughout the last parliament.
UKIP Economics Spokesman Patrick O'Flynn said: "Today has seen yet more flannel from Cameron and Osborne. They know they will not win a majority at the election and so are presumably planning to blame their preferred coalition partners, the Lib Dems, for yet another failure to do anything about inheritance tax. That is another reason why we need a substantial cohort of UKIP MPs in the next parliament - to force whoever is in government to substantially lift the inheritance tax threshold and to campaign for abolition.
"You can't trust Cameron and Osborne on inheritance tax- they have let you down before and will let you down again".