Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will make it her policy not to (a) lower inheritance tax thresholds and (b) increase inheritance tax rates in the Spring Statement 2025.

The Office for Budget Responsibility (OBR) has been commissioned for an Economic and Fiscal Forecast, which will be published on 26 March 2025. This is in line with the Budget Responsibility and National Audit Act 2011 which requires the OBR to produce two forecasts each financial year. This will be accompanied by a statement to Parliament from the Chancellor of the Exchequer.

The Government set out its plans for inheritance tax at Autumn Budget 2024, including fixing the nil-rate band and residence nil-rate band at their current levels for a further two years in 2028-29 and 2029-30.

The Government remains committed to one major fiscal event a year to give families and businesses stability and certainty on upcoming tax and spending changes and, in turn, to support the Government’s growth mission.