Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential merits of exempting gifts given to family members to help them purchase their first home from Inheritance Tax.

Lifetime gifts to individuals, including money, only use up some of the inheritance tax nil-rate band if the individual giving the gifts dies within seven years. There are also several exemptions and reliefs for gifts made in those seven years.

The Chancellor makes decisions on tax policy at fiscal events, and does not routinely comment on proposals.