Abstract
Death duties are now only a minor source of revenue to the British Exchequer (about 1.5 per cent of Inland Revenue receipts) and they now have few committed advocates. In this monograph Barry Bracewell-Milnes analyses the traditional criticism of death duties and adds some novel arguments based on the concept of saving in perpetuity - saving which is never drawn down, whether or not it was initially planned as perpetual. The perpetual saver is a public benefactor because he or she provides the rest of society with a permanent loan at rates chargeable for loans with maturity dates. Taxing perpetual saving will reduce its supply, thus resulting in losses to the rest of society. Barry Bracewell-Milnes believes that an inheritance tax does immense economic damage as it is 'perverse and counterproductive' and therefore should be eliminated.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
