He takes inspiration from Thomas Paine who argued:
"When a young couple begin the world, the difference is exceedingly great whether they begin the world with nothing or with fifteen pounds apiece. With this aid they could buy a cow, and implements to cultivate a few acres of land; and instead of becoming burdens upon society...would be put in the way of becoming useful and profitable citizens."Stuart concludes by arguing:
"Of course, it is an understatement to say that inheritance tax is unpopular. But it is important for social democrats to understand what their own principles imply. Our principles imply much heavier taxation of inherited wealth – which we can then link to initiatives to widen asset ownership.Personally, I believe that the left has neglected the issue of wealth at the expense of an obsession with income. Of course, the two are not unconnected- far from it- but they need to be considered alongside each other.
In view of this, we should not simply capitulate to public opinion, but make the case for what we think is right. One thing is for sure: until we start doing so, wealth inequality is going to go on rising and our warm words about ‘opportunity’ and ‘fairness’ will become even more divorced from the reality of British society than they are now."