back to top
Politics

Watch George Osborne Advise People How To Avoid Tax

The chancellor gave a viewer tips on how to avoid inheritance tax and still claim old-age care from the state. "I probably shouldn't be advocating this on television," he said back in 2003.

Posted on

George Osborne appeared on the BBC's Daily Politics back in 2003 and gave some top-notch advice on reducing your inheritance tax bill.

View this video on YouTube

youtube.com

The chancellor, then a newly elected backbench Tory MP, appeared on a segment of the show entitled "The Parliamentary Doctor" and advised a caller on how to reduce inheritance tax bill but still receive care from the state in old age.

He said: "The one piece of advice I would give to Bill is... there are some pretty clever financial products which enable you to, in effect, pass on your home or the value of your home to your son or daughter and then get personal care paid for by the state."

Having realised what he is saying, Osborne began to look a little uncomfortable.

"I probably shouldn't be advocating this on television," he concluded.

The clip has floating around for some time but was picked up again by the Huffington Post in the light of the recent row over the tax status of Conservative and Labour donors. This was sparked by the dispute over HMRC's apparent reluctance to prosecute individuals who used Swiss bank accounts run by HSBC to avoid tax.

Labour has accused Osborne, who has avoided opportunities to comment on the incidents, of being "guilty of political evasion" during the last seven days.

Jim Waterson is a politics editor for BuzzFeed News and is based in London.

Contact Jim Waterson at jim.waterson@buzzfeed.com.

Got a confidential tip? Submit it here.