Member

To sum up, I would specifically like the Minister to explain why we have ended up in this bizarre scenario where there can be two £5 million valuations on death, and in one scenario there will be no IHT liability, but in another a potentially dramatic IHT liability. He did not answer the point on indexation when I intervened on him at the Dispatch Box. The Government have fixed the threshold at £2.5 million for a long period of time. Valuations will change in that period, thereby potentially exposing a business to having to dispose of more assets to cover an IHT liability.