Ministers Oppose Spending Restrictions

This is a Aim news story, published by The Times & The Sunday Times, that relates primarily to Katie Martin news.

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welfare budget

The Times & The Sunday Times

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Boxed in by pledges, Rachel Reeves plans £1bn inheritance tax raid

Summary

Nutrition label

66% Informative

Morgan McSweeney and Katie Martin , chiefs of staff to the PM and his chancellor, seated together in the office next to the cabinet room.

The pair summoned political advisers from both Nos 10 and 11, as well as senior officials, for a final stocktake on the spending review.

“There is unity here,” a Treasury source said.

Chancellor has ordered major overhaul of the system to stop millionaire City financiers and celebrities putting their money into property to avoid inheritance tax.

The revised scheme is, however, designed to exempt those passing on family farms and businesses.

The rejig will also lead to the sale of shares of companies in the Aim market for emerging businesses, currently excluded from IHT , attracting some inheritance tax..

The prime minister has been speaking to Reeves every day but even supporters admit that Starmer is a methodical student of advice he is given.

He has formalised Angela Rayner ’s role as deputy prime minister too, insisting she becomes a permanent member of the National Security Council and top cabinet committees.

VR Score

Informative language

Neutral language

Article tone

informal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful