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Realistbear

Fight For Proposed Tax Increases On H P I And Btl

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Everyone on here needs to "write to them" and tell your MP that you support the propsoed hikes in CGT to discourage HPI etc.

It only takes 5 minutes or so and every little does help. INternet power!

http://www.writetothem.com/

My bit for humanity:

Dear Simon Kirby,
I am in support of the government's proposed substantial increases in CGT. Property speculation in the form of BTL, multiple home ownership, and flipping have led to the financial crisis we find ourselves in (See most recent edition of TIME magazine as to how property speculation and inflation in house prices has caused the global collapse of banks and economies). Many cannot afford to buy due to the speculators and multiple home owners who are removing much needed housing supply from the market. The tax breaks Brown gave to this unproductive sector of the economy was to fulfil his dream of no more boom and bust but only boom. Our economy was to be driven by never ending house price inflation to allow homes to become ATM machines by which to provide money to buy other items to keep the entire economy going. It never had any prospects for success and formed a property bubble which remains extant. Price must be allowed to return to affordable levels which is based on a multiple of 2.5 to 3 times average earnings and not 5 times where we are today. CGT will discourage property speculators and multiple home owners and it must be implemented in full.
Yours sincerely,

RB

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Or go talk to this guy:

Grant Schapps MP for Welwyn Hatfield, Minister of State for Housing and Planning

Grant holds regular surgeries, up coming dates:

Friday 11th June 2010, 10am - 11.30am : Maynard House, Hatfield

Friday 18th June 2010, 10am - 11.30am : Woodall Community Centre, WGC

If you'd like to come to a surgery and meet Grant Shapps in person, then please call Sandra Benjamin on 01707 262632 or email sandra@welhatconservatives.com and state that you'd like to be at the MP's next surgery

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Sorry, my M.P. is now in opposition! So won't be writing to her.

The vote will be open to all MPs --as per usual. :blink:

If you are Labour I suspect they will back DC as most labour MPs have probably seen the error of their former leader's ways.

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http://www.parliament.uk/mps-lords-and-offices/mps/

You can find MPs' email addresses here. Here's my effort (already gone out to a few of them).

Dear [ ]

I'm writing to explain why I support an increase in capital gains tax on property (other than a taxpayer's main residence). I'm not expressing any view on what rate should be applied to a capital gain on a sale of shares.

We're talking about buy-to-let here. In my opinion, buy-to-let is bad for society and bad for the economy. Bad for society because it pushes up the price of entry-level property and squeezes out first-time buyers. Bad for the economy because the country is allocating a disproportionate amount of its capital to unproductive assets. We cannot all get rich selling houses to each other at ever-sillier prices. The UK property market is a pyramid scheme which needs to be shut down.

I think you would agree that the country needs to raise money from somewhere. The question is: what is the best (or least bad) kind of activity to tax? A capital gain on a buy-to-let property is essentially a free lunch at society's expense. In my opinion, such a gain should be taxed at a higher rate than income from employment or from a trade, not a lower rate. Why on earth should the fruits of someone's labour be taxed at a higher rate than the return someone gets just by buying an asset and watching its value appreciate? What is the moral or policy justification for this?

The counter-argument I keep hearing is that such a CGT increase would penalise "prudent savers." Well, I don't agree. A higher rate taxpayer who puts his money into a bank account pays 40% or 50% tax on the return. Why should a saver who puts his money into a property get a lower rate of tax on his capital return? There's a case for lower rate taxpayers who may be pushed into the higher bands by realising all their return in a single tax year, rather than spread across a number of years, but that's about it.

Finally, in practical terms, if the coalition caves in to the special pleading from the property industry, you'll be creating a rod for your own backs. There will be more special pleading before the impending public sector cuts. And if you don't cave in to that as well, you'll be severely criticised for "giving your rich supporters what they want but taking a hard line with ordinary people." I can see the Labour slogans now.

I hope you'll bear some of these points in mind when making representations on CGT to the newspapers or to members of your party.

Kind regards,

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Everyone on here needs to "write to them" and tell your MP that you support the propsoed hikes in CGT to discourage HPI etc.

It only takes 5 minutes or so and every little does help. INternet power!

http://www.writetothem.com/

My bit for humanity:

Dear Simon Kirby,
I am in support of the government's proposed substantial increases in CGT. Property speculation in the form of BTL, multiple home ownership, and flipping have led to the financial crisis we find ourselves in (See most recent edition of TIME magazine as to how property speculation and inflation in house prices has caused the global collapse of banks and economies). Many cannot afford to buy due to the speculators and multiple home owners who are removing much needed housing supply from the market. The tax breaks Brown gave to this unproductive sector of the economy was to fulfil his dream of no more boom and bust but only boom. Our economy was to be driven by never ending house price inflation to allow homes to become ATM machines by which to provide money to buy other items to keep the entire economy going. It never had any prospects for success and formed a property bubble which remains extant. Price must be allowed to return to affordable levels which is based on a multiple of 2.5 to 3 times average earnings and not 5 times where we are today. CGT will discourage property speculators and multiple home owners and it must be implemented in full.
Yours sincerely,

RB

Interesting - thats the same MP i've written to... does he still hold a lot of property from his webb-kirby days?

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Sent a letter to my MP last Saturday.

Margot James Conservative MP for Stourbridge.

No response yet.

Spiney.

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  • 153 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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