Inheritance Tax

Debate between Andrew Lewin and Peter Fortune

Wednesday 14th October 2026 Commons Chamber

[Peter Fortune]

My hon. Friend is absolutely right: you tax something to stop it happening, and if you tax jobs, they stop being created.

[Andrew Lewin]

The hon. Member is a friend—we play cricket together in the parliamentary team and have therefore shared a few pints in a pub. He is of generous spirit. Does he recognise that this Prime Minister is cutting taxes on pubs by 20%? That is something that everybody in the House should welcome.

[Peter Fortune]

The hon. Gentleman is being too generous: he plays cricket; I sort of stand there and get hit by the ball.

One has to look at taxation in the round, and if we look at the impact of things like the national insurance costs, we can see that it is getting more and more difficult for businesses to survive on the high street. If we want to see economic growth that will strengthen our local communities, strengthen high streets and deliver real opportunities for young people, we need a fundamental change in approach. That fundamentally different approach was outlined perfectly by the Leader of the Opposition and the rest of the shadow Cabinet in Birmingham last week. It is absolutely right that people should be able to leave assets such as family farms, businesses and homes to their direct descendants without being taxed. I warmly welcome our plans to abolish inheritance tax on family homes, rewarding a lifetime of hard work instead of punishing those who have scrimped and saved their whole life.

Halving employer national insurance for those aged 21 to 24 is exactly the bold policy we need to get young people back into work. Bill Perera, a McDonald’s franchisee in my constituency, has highlighted the employer national insurance increase as the very reason he is struggling to employ more young people. Halving it will greatly assist the hospitality and leisure businesses that give many people their first job. We know the need to tackle the unsustainable welfare budget, and our savings plan will save £71 billion by doing exactly that. This will allow us to pay for our commitments, such as 3% on defence spending by 2030, while reducing the deficit by £35.5 billion against 2029-30 forecasts.

The distinction between the Opposition and the Government could not be clearer. We are setting out a comprehensive plan to get our country back to work, grow the economy and make our communities stronger. The Government have no real plan, and they have floundered in their first few years in office and failed to deliver. The next Conservative Government will deliver. They will deliver a stronger economy and a stronger country.