Senior Conservatives are stated to be discussing abolishing inheritance tax - at an annual value of £7billion to the Treasury - in a bid to win over voters forward of the subsequent election.
Downing Street is in talks about whether or not to scrap the levy in an try and shore up votes in so-called "blue wall" seats forward of a basic election in 2025.
Supporters say it could possibly be a "gamechanger" within the south of England, the place the Tories worry dropping seats to opposition events, in keeping with The Times.
The discussions are being held simply days earlier than three Conservative by-elections happen on Thursday.
The votes might see Rishi Sunak turn out to be the primary prime minister since Harold Wilson in 1968 to concede three seats at by-elections on the identical day.
As the occasion trails Labour in official polls, axing inheritance tax could possibly be thought of a manifesto pledge relatively than a coverage to be carried out subsequent yr.
A supply informed the newspaper: "It's about being an aspirational nation.
"You work hard, play hard and pass on your wealth. It's a live discussion."
Read extra:Everything you need to know about by-election battlegrounds
What is inheritance tax?
Inheritance tax is a cost on the property - together with property, cash and possessions - of an individual who has died.
People with an property price lower than £325,000 often would not have to pay inheritance tax, nevertheless, the worth ought to nonetheless be reported.
Anyone with an property above that worth is liable to pay an ordinary 40% tax on the quantity over the £325,000 threshold.
However, for those who give away your private home to your youngsters or grandchildren, the brink can rise to £500,000.
Two individuals co-habiting with joint dwelling possession might solely have inheritance tax legal responsibility when one individual dies and the worth of the property exceeds £650,000.
A partner or civil associate can go on as much as £1m together with their dwelling with none inheritance tax legal responsibility.
The common home worth is £285,000, in keeping with the most recent official figures.
But abolishing inheritance tax might value the Treasury as much as £7bn a yr because the nation continues to battle a cost of living crisis and inflation stays excessive.
A Treasury spokesperson stated the overwhelming majority of estates don't pay inheritance tax, with greater than 93% of estates forecast to have zero inheritance tax legal responsibility within the coming years.
However, they added: "The tax raises more than £7bn a year to help fund public services millions of us rely on daily."
Talks about inheritance tax come days after the federal government pledged to present hundreds of thousands of public sector employees together with academics and docs a 6% pay rise.
Read extra:Millions of public sector workers get pay rise'On me personally' if inflation isn't halved, says PM
The pay enhance won't be funded by borrowing, Chancellor Jeremy Hunt has insisted.
A Downing Street supply stated of the inheritance tax claims: "The PM has repeatedly said that he wants to cut taxes for people.
"As Conservatives that's apparent, we wish individuals to maintain extra of their very own cash.
Click to subscribe to The Ian King Business Podcast wherever you get your podcasts
"But the current economic situation means that the government is completely focused on halving inflation - to help people have more in their pockets at the end of each month.
"This form of future-scoping hypothesis simply is not on the PM's thoughts for the time being and requires a distinct form of financial surroundings to the one we're working in."
Please share by clicking this button!
Visit our site and see all other available articles!