LibDems Offer Tax Avoidance Legacy Scheme

Back in July Guido revealed how both the Tories and Labour were advising their donors how to avoid tax through controversial inheritance schemes. Now it appears the LibDems have followed suit. Right at the beginning of this year’s conference guide yellow benefactors are encouraged to sign up for their new “legacy fund campaign“, where donors “leave a sum of money or a share of your estate to the Liberal Democrats“. Generous participants even get the chance to meet Tim Farron…

The LibDems have been slightly more subtle than their Coalition counterparts – rememberClick here to see how a gift to the Conservative Party can reduce your inheritance tax bill” – but it would appear that the boundary reform busters are up to the same trick. They note that “legacy income provides an important part of the funding for most major charities, and so it should for us too“, hinting that they will take advantage of inheritance tax loopholes to help their donors avoid tax. What was that about morally repugnant…



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Quote of the Day

Janan Ganesh on Labour’s soft left

“Ms Cooper does not believe the previous Labour government was wrong to run a fiscal deficit after 15 years of economic growth. Both she and Mr Burnham think families should be entitled to tax credits for a third child. These views are not mad. They are just a bit too left-wing for Britain. For any serious party, that amounts to the same thing. The soft left is more electable than the hard left but then Mars is more habitable than Neptune: neither planet will host human life anytime soon.”

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