One MP said the plan appeared to be protecting the inheritances of those with means while ending the £20 uplift of universal credit that was originally given to poorer people to help them through the pandemic.
But this has provoked concern among some MPs because of the possibility of those with high value homes benefitting the most."I'm very concerned about the fact we seem to be protecting the inheritances of those with means at the same time as stripping the £20 uplift [in universal credit]," said one newly-elected MP.
Former prime minister John Major told the FT Weekend Festival that the policy was regressive and should be done in a"straightforward and honest fashion" through taxation. The TUC general secretary instead called for the government to increase capital gains tax - a levy on profits made when selling assets like property or shares.
The tax is also only paid on earnings, so wealthier individuals who live off rental income, savings or dividends don't contribute.
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