Chancellor Rachel Reeves has suffered another budget blow with a rebellion by rural Labour MPs over inheritance tax on farmers.

Backbenchers argued the measure failed to tackle "abuse by the celebrities and the billionaires" who buy farmland to avoid paying a full inheritance tax bill

All payments from the Infected Blood scheme will be exempt from inheritance tax, Rachel Reeves said during her Budget speech on Wednesday. The Chancellor also committed to transferring the Investment Reserve Fund of the British Coal Staff Superannuation Scheme to its members.

President Lee Jae-myung stated on the 3rd regarding inheritance tax reform, “At this stage, we have not yet considered fundamentally overhauling the inheritance tax itself.” The president made this remark during a foreign press conference held at the Cheong Wa Dae guesthouse that day,

There are various factors at play, and it is important to look at your own case in isolation. However, broadly speaking, most married couples will be able to pass on £1 million to following generations before incurring IHT.