Conservative Party leader Kemi Badenoch has unveiled a new policy proposal aimed at reforming inheritance tax. Under the plan, the party would abolish inheritance tax on family homes, a move intended to appeal to the party’s traditional voter base in southern England. Additionally, Badenoch stated that the policy would allow couples to pass on an additional £1 million to their families tax-free.

According to the Conservative Party, this change would reduce the number of families subject to inheritance tax by more than half. Currently, official figures indicate that fewer than 5% of estates are liable for inheritance tax. The party claims that the policy would be funded through £70 billion in identified savings.

The announcement has drawn immediate criticism from political opponents and commentators who argue that the policy prioritizes the financial interests of the wealthy. Critics contend that the tax cut is a targeted effort to secure support from affluent voters rather than addressing broader economic concerns. While the Conservative Party frames the policy as a relief for families, detractors maintain that the benefits are skewed toward those with significant assets, potentially widening the gap in wealth distribution.