Under the current system, no inheritance tax is paid on the value of estates worth less than £325,000
Trade union chiefs have called for Holyrood to have the power to hit the wealthy with higher inheritance tax rates. An STUC motion believes devolving the tax would raise vital cash for public services during the cost of living crisis.
The so-called “death tax” is reserved to Westminster, but the STUC is of the view that it should be transferred to MSPs. Trade union leaders will meet in Dundee next week for the STUC's annual congress and they believe increasing inheritance tax could be one way of taking more money from the rich The Tories cut inheritance tax when David Cameron was prime minister and George Osborne was chancellor. STUC General Secretary Roz Foyer said: “The call to devolve inheritance tax is a clear indication from the STUC that every single lever of power must be pulled to help alleviate this cost-of-living crisis for working people in Scotland.
Green MSP Ross Greer said: "The richest people in this country aren't paying their fair share under Westminster tax policies. Devolving the power to tax them properly is essential to building a fairer Scotland, so the STUC is absolutely right to call for basic financial powers like inheritance tax to come under the Scottish Parliament's control."
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