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Tories commit to IHT reduction after Clarke blunder

Conservative Shadow Business Secretary Ken Clarke says the Tories will abolish inheritance tax on estates under £1m if the party gets into power.

Clarke was forced to reaffirm the Tories’ commitment to the policy after he raised doubts over whether it would be implemented.

He had said that raising the threshold for the tax was only an “aspiration” due to the economic situation.

Following his initial comments which he made to the BBC, Clarke then issued a statement saying that the Tories were committed to raising the inheritance tax threshold in the first term of a Conservative government getting into power.

Liberal Democrat Shadow Chancellor Vince Cable says: “Ken Clarke’s comments are further evidence of the disarray and confusion which has characterised the Conservatives’ tax policy and their response to the economic crisis.”

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