Rishi Sunak considers cutting the U.K.’s ‘most unfair tax’

rishi sunak speaking pointing his hand upward (Credit: WPA Pool/Getty Images)

U.K. Prime Minister Rishi Sunak's potential cuts on inheritance tax which could offer the most gains to Britain's wealthiest 1%, according to a study by the Institute for Fiscal Studies. 

If Sunak’s Conservative Party moves to abolish the tax, it could cost the country £7 billion ($8.50 billion) in revenue, or about 0.3% of the U.K.’s GDP, a year.