Jeremy Hunt has said that inheritance tax is unfair as he vowed to support the middle classes with tax breaks.
In an interview with The Telegraph, the Chancellor described death duties as “profoundly anti-Conservative”, adding that the Tories would end taxes that discourage people from earning more money.
Mr Hunt vowed to build on two cuts to National Insurance and said: “We made a start, and we will go further.”
In his first interview since Rishi Sunak called the snap poll on July 4, Mr Hunt said the Tory manifesto would focus primarily on tax cuts that boost growth, reducing “taxes on work” and those that “disincentivise saving”.
The Chancellor’s promise of support for the middle classes came as private schools warned that parents were pulling children out ahead of Labour’s pledge to add VAT to the fees.
On Friday, Sir Keir Starmer promised the tax raid would be prioritised on “day one” of a Labour government.
Asked if the plan would be implemented immediately by a Labour government, Sir Keir told the BBC: “As soon as it can be done. It is a question of the timetable in Parliament. But these steps are intended to be done straight away.”
In an apparent effort to draw a dividing line with Labour on tax, Mr Hunt signalled the Tories would seek to end the effective 60pc rate that applies on incomes between £100,000 and £125,140 because of a tapering of the tax-free personal allowance.
