Badenoch says Tories would scrap inheritance tax on family homes

Conservative Party leader Kemi Badenoch announced plans to eliminate inheritance tax (IHT) on family homes and raise the IHT tax-free allowance to £1 million for married couples. The proposals, outlined in her keynote speech at the party's conference in Birmingham, aim to reduce the burden on middle-class families and cut the number of households paying IHT by more than half.

Badenoch emphasized the Conservatives' commitment to reforming the tax system and distinguishing themselves from Labour and Reform UK, positioning the party as the "no-nonsense" alternative to the "circus" of Reform UK. She also warned against living under a "Paddington Bear" Prime Minister who ignores pressing issues. The Conservatives anticipate the policy would cost approximately £6 billion annually, with £71 billion in potential savings through welfare cuts.

However, rival parties have criticized the plan, stating it primarily benefits the wealthy. Critics also highlighted the party's lack of concrete plans, accusing them of promising tax cuts without fully funding them.