Wednesday, August 13, 2025

Rachel Reeves is considering reforms to inheritance tax in order to fill a £50bn black hole in the public finances after the National Institute of Economic and Social Research (Niesr) piled pressure on the chancellor to come up with solutions ahead of her budget in the autumn.

But the response so far has been less than positive – with tax experts, economists and Tory politicians sounding the alarm.

Shadow chancellor Sir Mel Stride accused Labour of punishing working families to "fund their failure", while analysts at Hargreaves Lansdown warned Labour may "come to regret" the changes as it could hamper efforts to boost economic growth.

Meanwhile, Jonathan Portes, a former Treasury adviser and professor of economics and public policy at King's College London – who actually supports inheritance tax reform – told The Independent the changes would "certainly" not raise enough to fill the hole in the public purse.

Labour peer Shami Chakrabarti became the director of which pressure group in 2003?

Answer at the bottom of today's email 

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Daily briefing

Reeves accused of 'punishing families' with inheritance tax raid – that still 'won't fill Labour's black hole'

Leading analysts warned Labour may 'come to regret' inheritance tax changes

Cooper defends live facial recognition expansion in privacy row

The Home Secretary said 'safeguards and protections' would govern use of the cameras

Don't put expensive items at front of stores because 'people will nick them', minister tells shopkeepers

New figures show that shoplifting is at a record high

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QUOTATION OF THE DAY

Stores need to play their part in making sure that items that are high value are not at the front of the store... which obviously people will nick 

Policing minister Dame Diana Johnson on BBC Radio 4's Today programme

Quiz answer: Liberty

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