George Osborne, Shadow Chancellor, speech to The Conservative Party Conference 2009

The video discusses a conservative approach to improving Britain's financial situation by shifting from borrowing to saving. It highlights the importance of supporting a culture of saving and responsibility. A promise is made that only millionaires will pay inheritance tax, although the financial crisis has delayed its implementation. The commitment to this pledge remains for the duration of the Parliament.

Why is the promise regarding inheritance tax not a priority in the first budget?

What does the speaker mean by honoring the pledge in the lifetime of Parliament?