
@edgreavesi
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Editor of @mouthymoney and host of podcast of the same name🫰🏼Interested in the reasons why we aren't all a lot richer and how to solve that.
Devon, England
Joined March 2009
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The IHT nil rate band was set at ÂŁ325,000 in 2009 and is still there today. Had it risen with inflation, as of 2025 it would have been ÂŁ526,000 at the time @ICAEW ran those numbers.
Inflation uprating is baked in to the legislation so every year that it wasn't uprated (including 14 years of Tory government) the decision has actively been made to pin it at the same level as the year before.
Lot's of energy gets spent discussing fiscal drag on income tax but it isn't the only victim of that. IHT has had 17 years of it.
icaew.com/technical/tax/tax-…
My new piece looks at:
-Why Inheritance Tax is a bad tax,
-Why the number of families paying it will double under Labour
-Why so many other countries have abolished it,
-Why it's right to cut it,
-and why critics are wrong about the costs:
neilobrien.co.uk/p/cutting-i…
This exactly. Arguably already happening given the change in tax treatment of pensions. Exemptions for IHT are up to ÂŁ1m per married couple already once you factor in RNRB
Replying to @HugoGye
Presumably under this regime no pensioner would be so foolish as to downsize their home. In fact, they would be well advised to use any spare money they have to buy the priciest home possible.
A 'solution' in which the young people occupy what was once called a granny flat and then what? Wait to inherit? Can't make it up.
George Clarke: My radical plan to get the young on the housing ladder thetimes.com/life-style/prop…
Excited to see the assessment of how many people this will actually affect
Many saying "why don't they just make State Pension tax free?" Well it's always been taxable, so high earners pay tax on it (think someone with ÂŁ1m earnings and investment income age 70).
The change is that from April someone with ONLY full new state pension income will need to pay tax. And regardless of the triple lock or not, that would’ve happened at some point if you continue to freeze the personal allowance – that’s the prime cause of this for me.
So either we all reskill as tradies or its Bread, peace, land, by 2030?
New from us:
Anthropic just published scenarios for AI’s possible economic impacts, which range from minimal, to explosive GDP growth of 15% by 2030 as knowledge-worker unemployment hits 18%.
I sat down with their co-founder Jack Clark to pick his brains on how they’re thinking about all of this.
Helicopter money creates more inflation
To our Prime Minister @andyburnham I have another idea I would like to share with you!
So after what the Bank of England came out with yesterday that they’re gonna hold interest rates agen and inflation is gonna start creeping up. It’s gonna be familys and small buisnesses that end up feeling it the most.
So ive got another idea…
Why dont we create the “Back Britain BoshCard.”
Every working family gets ÂŁ25 a month but it can ONLY be spent in a small independant British buisnesses.
Not at a big multinational company or national supermarket chain. Only at proper independant buisnesses. Like ya local butcher, baker, market trader, cafe or furniture shop, toy shop, florist, pub, fishmonger……The people that I love to support and are the back bone of this beautiful country.
These people are have been getting absolutely smashed to pieces, especially since Covid. I know because I am one of them. Having to face more costs every single year. Yet these are the ones who is employing local people, sponsoring local kids football teams and keeping our high streets alive.
But ya probably thinking……How do we pay for it?
Instead of wasting millions on schemes that nobody seems to know about or can get, put some of that money into this. And start to clamp down harder on the massive companys avoiding tax by sending it off shore and use that money to back the people that actually keep Britain going.
Plus the good things is that if people who have never been there local butchers before, they will probably start going all the time. If the food’s good you’ll go back. Same with the local cafe, toy shop or market stall.
That £25 don’t just help a family for one month… it creates new customers for independant buisnesses for years to come. More customers means more jobs. More jobs means more tax coming back in. More people on our high streets instead of sat ordering everything online. It’s helping familys and helping the backbone of Great Britain at the same time.
This is how you get ya growth for Britain… from the high street up.
What do you lovely lot think?
Bosh❤️
Fixing the social care system and how it is paid for is absolutely an admirable aim. Those in government have kicked it into the long grass for far too long. Pretty much for as long as I've been a financial hack.
My big question is this though:
Fixing social care could unlock a bunch of downstream issues especially in the NHS, which the PM mentioned. If we build a social insurance model then we should learn the lessons of failures in funding the NHS through general taxation.
So what they say about the machinery of state trundling on regardless of elected ministers' views is true then
.@Miatsf 's first visit as Secretary of State: the Port of Aberdeen.
The North Sea remains a vital national asset, supporting jobs growth & the local community.
The skills & expertise built here over generations will continue to play an important role in our energy future.
Financial repression for the digital age
Edmund H Greaves retweeted
As nations grow wealthier, they should cut spending on older people, who can increasingly provide for themselves.
The West spent half a century doing the exact opposite. We'll pay the price for this mistake for decades to come.
Edmund H Greaves retweeted
Got yourself a World Cup Panini sticker album? You'll need a big network to finish it - or up to ÂŁ1,306. We've done the sums.
Edmund H Greaves retweeted
This was Nigel Lawson’s justification for equalisation of CGT and IT rates in the 1988 Budget debate.
Intellectually sound, as long as prior inflationary gains to capital are indexed (pre-1982 gains were written off in the 1988 Budget) . Lawson tried to hard wire disincentives for the government to generate inflation (index linked Gilts the most obvious example, but also CGT) as part of illustrating inflation-fighting credibility.
Just because price stability responsibility has since shifted to the central bank does not make that govt signalling any less important, IMHO. The debates of the post-1970s inflation experience keep returning, pointing to the UK’s fresh inflation problem.
Wes Streeting has this morning set out his tax plans - specifically bringing capital gains tax into line with income tax
He says that the current system is unfair because it penalises work
Higher or additional rate taxpayers will pay 24% on gains in the current financial year. Streeting said that the rates should mirror income tax bands - so 40% for higher rate taxpayers and 45% for additional rate taxpayers
He says that the approach could raise ÂŁ12billion a year
Streeting said: “A member of my family is a cleaner in Lancashire. She pays a higher tax rate on her salary than her landlord pays for the growing value of the home she lives in. She slogs her guts out, he puts in far less effort, yet the state rewards him more than her. And we wonder why people are angry.
“The system is penalising work. It’s not fair and it’s bad for our economy. We need a wealth tax that works. A pound made from simply owning assets should not be taxed less than a pound made from a hard day's work. We can do it in a way that is pro-growth, pro-entrepreneur and pro-work.”
This is going to provide a nice artificial deflationary warp in the September/October CPI right around the time we have a new PM
Replying to @PolitlcsUK
The scheme is estimated to cost about ÂŁ300m
The VAT rate on eligible activities will be cut from 20% to 5% and applies across all of the UK
The reduced rate will apply to:
- Children's menu meals served in restaurants for consumption on the premises
- Children's and family tickets for cinemas, theatres, concerts, shows and exhibitions
- Admission tickets, for both children and adults, to a range of attractions, including: amusement parks, fairs, museums, zoos, soft play centres, circuses, adventure parks, nature reserves, wildlife parks and observation attractions




















