§ Lord Monsonasked Her Majesty's Government:
To what amount exemption from capital taxation for gifts in consideration of marriage would have to be raised to restore the real value of the concession to its original 1975 level.
The Paymaster General (The Earl of Caithness)For 1990–91 the inheritance tax exemptions for lifetime gifts in consideration of marriage would have to be raised to the following amounts to restore their values to 1975–76 levels in real terms.
By a parent to his or her child: £20,000.
By a grandparent: £10,000.
By most other people: £4,000.