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Ed Milibands Secret Triple Tax Whammy Leaked - Labour Plans Multi Billion Pound Package Property Wealth Taxes

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  • >>>All shop owners would be forced to pay a new ‘property owner’s tax’ separate from existing business rates – and on top of existing income tax.

Insanity. The high street is already dead on its feet. This isn't going to help lower rents on shops.

  • >>>Emergency laws would impose a new ‘business tax’ on firms in every prosperous city and town in England – backdated to before the election – to fund tax handouts to less well-off areas.
  • "emergency"?

    Backdated?

    So will it count on registered address, place of work, or individual outlets?

  • >>>>>And a new £500 million ‘farm tax’ would be introduced by scrapping the exemption from business rates that has applied to agricultural land and buildings since 1929.

    Well we could probably discourage farmers even more and then be even more reliant on imported food.

    --

    They could encourage run down towns by doing something positive to lessen rents and reduce business rates. And stopping the onslaught of chains at every corner.

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I read this as a cunning plan by the Tories to try to get some of the UKIP defectors to vote Tory again due to fear of Red Ed getting in and demolishing their BTL and housing wealth....

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Well that's the DM version of this supposed policy, I wonder what the real plans are :P

It's been supposedly drawn up by the former boss of Wickes, which makes the "policies" around shops even more surprising.

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That's the Mail version. Hysterical as usual!

Most shop owners I know (98%+) rent, so can't see how a property owners tax would hit them? Sounds like a move to shift business rates from the people running the shops to the landlords to me. Good idea in theory but can't see how it's workable.

I absolutely can't see why farms should be exempt from rates anymore either. They get tens of billions a year in handouts no other business gets and I have never ever ever met a poor farmer. Frankly if they don't want to farm anymore (and many already don't because the subsidies are so generous) they can sell up to someone who does.

The Tories only support the farmers as they do because they're landowners. If any other sector was as heavily state subsidised they would have privatised (or abandoned it) decades ago. Apart from banking obviously...

Edited by byron78

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If Paul Dacre's rattled, it can only be a good thing.

(obviously the actual policy won't be anything like what he's just made up, but anyway)

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If Paul Dacre's rattled, it can only be a good thing.

(obviously the actual policy won't be anything like what he's just made up, but anyway)

That's a good rule!

If Dacre hates it, like it.

In keeping with this I'm off out now for a spliff with a homosexual French gypsy and Gordon Brown.

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  • >>>All shop owners would be forced to pay a new ‘property owner’s tax’ separate from existing business rates – and on top of existing income tax.

Insanity. The high street is already dead on its feet. This isn't going to help lower rents on shops.

  • >>>Emergency laws would impose a new ‘business tax’ on firms in every prosperous city and town in England – backdated to before the election – to fund tax handouts to less well-off areas.
  • "emergency"?

    Backdated?

    So will it count on registered address, place of work, or individual outlets?

  • >>>>>And a new £500 million ‘farm tax’ would be introduced by scrapping the exemption from business rates that has applied to agricultural land and buildings since 1929.

    Well we could probably discourage farmers even more and then be even more reliant on imported food.

    --

    They could encourage run down towns by doing something positive to lessen rents and reduce business rates. And stopping the onslaught of chains at every corner.

Err if you actually read what is being proposed its bloody fantastic and a hpc'ers wet dream.

It aims to tax owners of business property as well as those renting the property. That will be a partial shift from wealth creators to rentiers. Hopefully the aim is for a complete shift over time.

"Mr Miliband must ‘consider levying a percentage of the tax on property owners and not just the occupying business,’ he confirms."

It attempts to use tax policy to rebalance north vs south. It will incentivize economic expansion outside of the SE vs economic expansion in the SE. Consider what that will mean for housing demand outside the SE vs the SE.

It will tax the land owning aristocracy who own most of the countryside. They will no longer be able to just sit on land while waiting for it to appreciate in value. Moreover it will incentivize the land being released for producitive use. Moreover this may hit land that has been granted planning permission but is being "banked"

As I said bloody fantastic.

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That's a good rule!

If Dacre hates it, like it.

In keeping with this I'm off out now for a spliff with a homosexual French gypsy and Gordon Brown.

A Romanian nearly won the French Ladies open yesterday. All hell could break out at the DM and in UKIP if Simona Halep wins Wimbeldon.

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A Romanian nearly won the French Ladies open yesterday. All hell could break out at the DM and in UKIP if Simona Halep wins Wimbeldon.

Simona Halep Breaking out?

simona-halep-1.jpg

Edited by AteMoose

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Not read the link but can imagine what it is on about.......nobody minds the rich and influential taking their bit more from the rest, they have inherited it, deserve it, worked for it.....but when they take the proverbial and start bleeding the poor dry that is the time to take radical action......give 'em an inch and they take a mile. ;)

Edited by winkie

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I absolutely can't ...

You absolutely sound like a politician, sorry. ;)

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I was amused by my neighbour who said "my tax bill for last year has doubled, when I voted Hollande I was voting to tax other people, not me". Be careful what you wish for unless Miliband is a lot more successful at bleeding the rich than his gallic brother.

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I was amused by my neighbour who said "my tax bill for last year has doubled, when I voted Hollande I was voting to tax other people, not me". Be careful what you wish for unless Miliband is a lot more successful at bleeding the rich than his gallic brother.

thats sort of how it works.

tax people to much, they leave.

so you have to tax the existing people who were stupid enough to stay even more..

and when that doesn't work,your tax revenues fall and you have nowhere to turn, then you turn the screw a bit too much and have a police state.

by which time,all capital generation has fled the country.

yes,there is something to be said for clamping down on those who have acquired their gains by rigging the political/financial system(false weights& measures etc).

but it's not just a revenue generation problem, it's a spending problem too.

if peoples money was being used effectively it would not cause quite so much hassle.

..but most people can see it's not.

why should anyone in their right mind keep paying for services they are either not getting/or are sub standard?

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I was amused by my neighbour who said "my tax bill for last year has doubled, when I voted Hollande I was voting to tax other people, not me". Be careful what you wish for unless Miliband is a lot more successful at bleeding the rich than his gallic brother.

This is always the trouble. There are not enough rich people who will be affected by this tax to make enough for what the government will want. In due course all taxes designed just to affect "rich" people change into taxes that tax the majority of the population.

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when I voted Hollande I was voting to tax other people, not me

:lol:

Not read it, doubt 'backdated' is even legal. Whatever. We'll see. Most likely an inaccurate story, subject to change depending on polls and focus groups, and they need to get in to enact anything assuming they would do what they say anyway.

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This is always the trouble. There are not enough rich people who will be affected by this tax to make enough for what the government will want. In due course all taxes designed just to affect "rich" people change into taxes that tax the majority of the population.

Land tax is probably the fairest way. No hiding that. Don't want to pay the tax? Don't own all the land then.

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I was amused by my neighbour who said "my tax bill for last year has doubled, when I voted Hollande I was voting to tax other people, not me". Be careful what you wish for unless Miliband is a lot more successful at bleeding the rich than his gallic brother.

Out of interest exactly which tax has doubled for your neighbour?

I thought income tax rates in France were generally lower than they are here for the majority? Those don't look to have changed unless you're on mega money - what has doubled and why?

Edited by byron78

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:lol:

Not read it, doubt 'backdated' is even legal. Whatever. We'll see. Most likely an inaccurate story, subject to change depending on polls and focus groups, and they need to get in to enact anything assuming they would do what they say anyway.

Backdated is legal if Parliament passes an Act that says so.

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Re: French taxes "doubling"

Social charges on unearned income went up 2%. Beer duty rose by 8p on a can of lager and personal allowances stayed about the same but taxes on income still mean that a couple with a joint around £50k pay a top rate of 14% and this can be further reduced by allowances given for things such as transport costs to/from work and for childcare.

Edited by campervanman

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Land tax is probably the fairest way. No hiding that. Don't want to pay the tax? Don't own all the land then.

I'm not sure it is. Sure it would affect the landed gentry, and some large landowners who own disproportionate amounts of land. However, in general it would not affect most of the very wealthy much, as many have a disproportionate small amount of wealth tied up in UK property.

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Out of interest exactly which tax has doubled for your neighbour?

I thought income tax rates in France were generally lower than they are here for the majority? Those don't look to have changed unless you're on mega money - what has doubled and why?

She's a recently retired (at 54 years old!!!) teacher. I didn't ask the details but I think she's gone from something like 1000 to 2000 euros a year income tax, not a big deal but she was moaning and groaning about it; saying that Hollande had promised "to tax the rich". She can't afford her magazine subscriptions this year. There are cases of people going from 0 to 1500 euros for the first time in 2013. All sorts of allowances were changed in 2013 to bring more people into the tax system.

Edited by davidg

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