Covid-19: Death Duties and Inheritance Tax

Baroness Greengross Excerpts

Thursday 24th June 2021 Lords Chamber

[Baroness Penn (Con)]

My Lords, my noble friend is perhaps referring to the balance in priorities that we need to address when looking at tax rates. We raise a relatively high amount from inheritance tax and assets compared to peer countries, and we believe that we have got that balance right.

[Baroness Greengross (CB) [V]]

My Lords, when the merits of specific tax changes to help pay for the costs associated with the pandemic are being assessed, I am really anxious that pensioners do not disproportionately bear the cost of the crisis. Are the Government looking at the pension triple lock in relation to older people who are working? Are they, strictly speaking, pensioners or are they really older workers to be treated differently?

[Baroness Penn (Con)]

My Lords, the pension triple lock remains government policy and the state pension remains the foundation of the Government’s support for older people. I am not aware of any work looking at treating pensioners who choose to work after the state pension age any differently.