Riverwalk I am still of the opinion that £500,000 is more than enough money for family members to inherit and that anything over that figure should attract inheritance tax.
I have lived in areas outside of London, including in Blackburn and Colchester, where property is very much cheaper. However, what I earned there was about half of what I earned when we moved to London. For public service workers who earn roughly the same wherever they live this can be both an advantage and a disadvantage, depending on whether they live in a "cheap" or an "expensive" area.
Even with interest rates at 15%, when both of us were working in London, we had a much more comfortable lifestyle.
I accept that we have both worked hard, although I have mostly worked part-time, but many people are also working extremely hard these days and yet more and more of them can hardly afford rent, let alone a mortgage. Is it too much to ask that a percentage of the gains homeowners have made be returned to the State to help fund all the things that a civilized society needs? (Though I also think most people would be keener to pay their taxes if they thought the very wealthiest among them were paying theirs). Inheritance has been found to be a major factor in preserving inequality.
I want my children/grandchildren to benefit from most of the profit we have made, but not all of it. Why is that surprising?