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Daily Mirror
Daily Mirror
Politics
Ashley Cowburn

Treasury minister said he would like to see inheritance tax 'eliminated'

A Tory Treasury minister has revealed he told party members during his selection meeting in 2019 he would like to see inheritance tax "eliminated".

Andrew Griffith, the Financial Secretary to the Treasury, made the remarks on the fringes of the Conservative Party conference in Birmingham.

The MP for Arundel and South Downs - a former Sky executive - made clear, however, that inheritance tax is "outside" his responsibilities.

According to The Guardian, Mr Griffith told an event hosted by the Centre for Policy Studies: "I shouldn't talk about tax policy.

"It's outside my lane even within the Treasury. But I have lots of my fantastic local association with me here and they will know because they asked me at my selection meeting 27 months ago which tax, if I had the choice, I would like to see eliminated.

"History will record it was the inheritance tax."

The standard inheritance tax rate in the UK stands at 40% and is only charged when the value of an estate exceeds £325,000.

Pressed on the remarks on Tuesday and if it was one of the taxes her Government would look at, Ms Truss told Times Radio on Tuesday: "We've been clear about our tax plans, keeping corporation tax low, reversing the National Insurance increase, which is in fact a manifesto commitment not to raise National Insurance and we have no more plans on that front."

Mr Griffith also defended Liz Truss's economic policy amid days of turmoil in the financial markets and a humiliating U-turn on Monday.

He said: "I celebrate wealth creating and risk taking.

"We've got to drive that into the system. It can't be right that the only time a businessman is ever on the BBC is that they're greedy, underpaying their staff or exploiting consumers.

"The answer is that we - and this is why our new Prime Minister is so fantastic - have to be politically brave and have the courage of our convictions. Not enough of us make first principle defences of why it's so important."

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