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Cameron promises to end inheritance tax

A Conservative government would end inheritance tax on family homes worth up to £1m from April 2017, David Cameron announced.

This revives a previous Tory pledge from 2010 which the Liberal Democrats halted as part of their coalition, although the new 'family home allowance' would not apply to properties worth over £1 million.

Labour said the proposal was a "panic move" which would bring a tax cut of £140,000 to people owning £2 million homes.

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Conseratives promise to 'end inheritance tax' on properties

David Cameron has promised to end inheritance tax on properties worth up to £1 million should the Conservatives win the General Election.

The Tories claim 22 thousand families could benefit from a bigger allowance by 2020, which would enable parents to pass property onto their children tax free.

ITV News Europe Editor James Mates reports:

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