George Osborne pledges to cut inheritance tax on property

The video discusses the Conservative party's proposal to raise the inheritance tax threshold, highlighting the impact on families and the fairness of the tax system. It examines the rise in house prices over the years, particularly in London, and how this has affected ordinary families. The historical context of tax thresholds is explored, showing how they have not kept pace with property values, leading to more families being subject to inheritance tax. The video concludes with a political and social commentary on the implications of these changes.

What is the main goal of the Conservative party's proposal regarding inheritance tax?

• To eliminate inheritance tax completely

• To increase the budget deficit

• To raise the inheritance tax threshold

• To decrease property values

How has the increase in property values affected social class distinctions?

• It has blurred the lines between classes

• It has had no effect on social classes

• It has made them more distinct

• It has eliminated social classes

What was the approximate value of a family home 20 years ago compared to today?

• £100,000 to £760,000

• £50,000 to £760,000

• £100,000 to £1,000,000

• £50,000 to £100,000

Why is the inheritance tax considered unfair according to the transcript?

• It is a new tax introduced recently

• It is too low for most families

• It has not kept pace with rising property values

• It only affects wealthy families

What is the impact of the inheritance tax on modest family homes in London and the Southeast?

• They are exempt from the tax

• They are heavily taxed despite being modest

• They are valued less than £100,000

• They are not affected by property value changes