It is Kemi Badenoch’s Conservative Party now.
Implicitly and explicitly, that was the message from the Tories’ annual conference, which has wrapped up in Birmingham.
It is a party very much united around her, with no murmurings of dissent about her leadership, which is quite the contrast from a year ago.
The pivot point in her time as Conservative leader so far came in her address to this same gathering 12 months back, when, amid constant chatter about the prospect of Robert Jenrick seeking to topple her, she won over the party faithful with an address that oozed confidence.
Not just that. Us reporters were given her speech script, allowing us to follow it line-by-line to help us report what she has said quickly and accurately. But there was a page missing towards the end. On that page was the Conservative crowd pleaser of a plan to scrap stamp duty in England and Northern Ireland.
Fast forward to now and there was a familiar drill. There was plenty of chat throughout the conference and beforehand of a new policy coming on inheritance tax, and, sure enough, another page was missing towards the end of her speech with her plan on that.
The plan reopens the fascinating politics and psychology of inheritance tax – which is paid by fewer than one in 20 people, external but has been described as the country’s most unpopular tax, external.
Why so? Advocates of cutting or scrapping it say it is because plenty aspire to one day being rich enough to end up having to pay it, plus it is a second tax on already taxed income.
But the Conservatives’ opponents, even before this speech, were already looking forward to the argument they anticipated after it.
Reform UK, for instance, claim it is a “tax cut for multi-millionaires” and that their plan to cut income tax for millions by raising the threshold at which most people start paying it will benefit far more people.
The Institute For Fiscal Studies said the “biggest beneficiaries” would be “a very well off group, external, mainly living in London and the south east of England”.
It also said it would “encourage wealthy people to buy (or stay in) more expensive homes in their later years”.
The proportion of estates subject to inheritance tax is rising rapidly, the IFS said, but forecasts are uncertain because it depends on, among other things, what happens to house prices.
The Conservatives estimate their inheritance policy change would cost around £6bn a year.
They claim to have identified £71bn pounds worth of cuts that can be made to government spending, including £36bn a year from benefits and welfare.
The largest savings are projected to come from reforming sickness and disability benefits, where the party believes it can save £13.7bn a year, with £9.5bn a year from ending access to benefits for non-EU nationals, £4.5bn from changes to housing benefit, and £3.1bn from reintroducing the two-child limit for Universal Credit.
But Work and Pensions Minister Torsten Bell said “history is very clear that promising this scale of tax cuts ends one way, external: trashing your public finances”.