George Osborne faces calls to lift the tax burden on newly-bereaved families and homebuyers after receiving a surprise £1.7 billion windfall.
Surging growth in the housing market has seen the Treasury over-shoot forecasts made in last year’s Budget for receipts of inheritance tax and stamp duty.
Ryan Bourne, head of public policy at the Institute for Economic Affairs, said: "Increasing the higher rate threshold for both stamp duty and inheritance tax has been ignored by the government for far too long. Evidence of this extra revenue should now make it an immediate priority.
"It's ludicrous that government policies such as these are imposing such a huge tax burden on middle earners. At the very least, the government should link the threshold of both to the higher out of wage growth or inflation on a yearly basis."
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