Scrap Stamp Duty, Scrap Inheritance Tax? | IEA Podcast

In this Institute of Economic Affairs podcast, host Lord Hannan is joined by Christopher Snowdon, IEA Head of Lifestyle Economics, and Kristian Niemietz, IEA Head of Political Economy, for their regular economics and politics round-up. This episode covers the Bank of England’s decision to hold interest rates amid rising inflation, the case for and against scrapping inheritance tax and stamp duty, new government rules dictating what schools can serve for lunch, and the resurgence of Just Stop Oil protests against a backdrop of shifting public opinion on net zero. On interest rates, the panel debate whether the Bank is right to hold steady given inflation driven largely by oil and petrol prices, and whether expectations of future rises are justified. They then turn to tax, weighing up the practical costs of inheritance tax collection against the principle of taxing unearned wealth, before broadly agreeing that stamp duty is one of the more damaging taxes to scrap first. On school food, they question the evidence behind new rules limiting pastry, breadcrumbs and processed meat, and argue the policy should be a matter for individual schools rather than national government. The conversation closes with a look at why Just Stop Oil and Extinction Rebellion protests have returned, and why net zero, once an unchallenged cross-party consensus, is now facing a growing electoral backlash as energy costs rise. The Institute of Economic Affairs is a registered educational charity. It does not endorse or give support to any political party in the UK or elsewhere. Our mission is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems. The views represented here are those of the speakers alone, not those of the Institute, its Managing Trustees, Academic Advisory Council members or senior staff.