Search the Community
Showing results for tags 'mansion tax'.
I am desperately in favour of a mansion tax, but surely it should apply to the total value of your property portfolio, including any buy to lets. It would be a great way to generate some money from fat cat landlords, and very few people would complain. Such landlords could not just raise rents to compensate because there would be plenty of other landlords who would not have to pay the tax, so tenants would be protected from landlords just passing on the costs en masse. They should then plough 100% of the money into building affordable housing (social rent or open market)... Should raise a lot more money!!
interesting article on the so called "Mansion Tax"... It's not a "Mansion Tax" at all, it's a plan to nationalise London's terraced homes, and flats ! http://excelexperts.com/impact-labours-mansion-tax Betty
http://www.ft.com/cms/s/0/94fa6f84-43d0-11e4-8abd-00144feabdc0.html?siteedition=uk#axzz3E81TgOoB Cant post obviously, but gist is that Mansion Tax isn't ambitous enough. FT editorial backing full blown land value taxes, or increasing the regressive council tax bands by adding new bands (which mansion tax partly does). However, since it's the FT it's clear why they favour local taxes over mansion taxes and that's because it means the local council keeps the funding. So Kensington & Chelsea and other London councils would keep the loot, rather than the Treasury, and they ain't going to use it to fund the NHS nationally. So in essence their proposal will simply ensure that London wealth remains where the FT would like it to remain - in London. But at least they're on the side of increasing housing/land taxes, contrary to the Tory policy of opposing them.