There should be no profit from death
Of course we should have an inheritance tax, as Will Hutton argues. It’s not as if the most of the people leaving the money have earned or saved it. Most people’s estates consist mainly of inflated house-price values which have resulted from Keynesian demand stimulus money missing its mark and ending up as raised land values.
Allowing people to keep these as unearned capital gains is creating one of the most amoral electorates in history, decrying wage inflation while demanding property price inflation, with all parties scared of asking for the repayment of sums which should rightly finance public projects.