Labour MP Rachel Reeves criticizes UK inheritance tax policies, proposes lifetime gift tax, and considers bringing pensions under inheritance tax, potentially raising £2bn.

Labour MP Rachel Reeves has criticised the UK's inheritance tax policies, including the residence nil-rate band, describing it as "unjust". She has proposed a tax on lifetime gifts and is considering bringing pensions under inheritance tax, which could raise up to £2bn in the coming decades. Reeves has previously suggested a flat 33% rate of pension contributions tax relief and is planning a major review of private pensions and associated taxes.