Kemi Badenoch has announced the Tories in power would abolish inheritance tax on family homes entirely as she attempts to appeal to the traditional Conservative base.
But the vast majority of families don’t pay a penny as it stands: just one in 20 estates are hit by the levy.
Currently, inheritance tax is charged at a standard rate of 40% only applies to people who have an estate worth £325,000. This rises to £500,000 if a home is passed on to a child or a grandchild.
And married couples already have a combined tax-free property limit of £1million.
Ms Badenoch also said her ambition was to abolish inheritance tax entirely.
And she announced couples will be “able to leave an additional £1 million pounds tax-free” to their families under a Tory government.