The Quote from the City

From the Coffee House

"The Chancellor has done some wonderful arithmetic here by adding together two allowances that already exist, and passing it off as doubling the allowance. Any married couple receiving advice about reducing their inheritance tax bill would have been able to use both allowances by either passing on assets or using a nil-rate discretionary trust on the death of the first spouse."

It's a bit like the 2p cut in income tax that was actually a rise.