Alistair Darling

Ed Balls fears Alistair Darling memoirs damage

Shadow chancellor Ed Balls has acknowledged that Alistair Darling's memoir of life in 11 Downing Street has handed the Conservatives an opportunity to divert attention from the economic difficulties facing the UK.

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Inheritance tax would be 'all but abolished'

Conservative plans to slash inheritance tax would effectively abolish the tax "for practical purposes", shows research by the leading accountants, Grant Thornton, for The Independent. In the proposals by the shadow chancellor George Osborne, unveiled in 2007, the threshold would be raised from the present £325,000 to £1m.