Jump to content
House Price Crash Forum
fru-gal

George Osborne Is Crowdsourcing Ideas For The 2016 Budget

Recommended Posts

So what ideas do the HPC hive mind have? I think we need to see what affect the changes GO has already made wil have before making any others. I would like to much strong rights for renters but that is not really GO's dept.

Share this post


Link to post
Share on other sites

Help To Buy Hookers and Coke. In recognition of the fact that prossies and illegal drugs contribute to GDP every person can apply for a free £500 a year to go towards these industries.

I prefer Diet Coke thanks George.

Edited by Ghostly

Share this post


Link to post
Share on other sites

My suggestions would be;

Land value tax, BTL to be limited to new builds, increase council taxes for higher value homes, possibly CGT to main homes, landlords to pay NI, complete overhaul of the PRS, include working tax credits in the benefit cap.

Share this post


Link to post
Share on other sites

I submitted something on refocusing taxation away from productivity and towards resource use. Given they've promised not to increase income taxes a limited LVT could possibly be at least a little bit tempting for them. Might also be worth suggesting that the remaining tax reliefs on landlords' finance costs be removed entirely? ;)

Share this post


Link to post
Share on other sites

Beat me to it. Elimination of all tax relief on finance costs for BTL landlords.

Edit:

I propose the elimination of tax relief on finance costs for Buy to Let Landlords. The Chancellor has recently reduced available tax relief to the basic rate of tax only(to be phased in over few years), with landlords receiving a tax credit equivalent to basic rate when the policy is fully implemented.
It would be straightforward to administer (simply eliminate the tax credit), would help enormously with the current problem of housing costs and housing benefit which are out of control, and would of course aid the exchequer enormously, at a time when financial constraints are severe.
Despite much media reporting, it seems unlikely that rents would rise when taking a medium term view. Ireland eliminated such reliefs entirely in the late 1990s and the trend in rents prior to the change was intact afterwards, although there were some short term fluctuations.
This has been subject to peer-reviewed research, here is a relevant chapter pdf, which is well worth a read:
Taken from:
Ronan C. Lyons, “The spread of rents in Ireland, over time and space”
And of course, politically is very low risk indeed, in fact I'd say it is politically risky not to implement such a change, if your party believes in the extension of home ownership, which has been in catastrophic decline since BTL came into being in the late 90s (there are many easily-obtainable graphs showing this phenomenon).
Edited by The Knimbies who say No

Share this post


Link to post
Share on other sites
Submitted these:


Land Value Tax to reclaim some of the benefit endowed upon property owners from external sources. Also will discourage land banking.

Increased taxation on foreign property owners or even a complete ban on foreign ownership of property.

Revisit Tax Credits - Get rid of working tax credits.

Removal of all mortgage tax releif for BTL

Tax releif on childcare for working parents.

Make work pay, make benefits not pay.

Share this post


Link to post
Share on other sites

On the contrary, it was your excellent post a while back that provided the defensible evidence about the rent rise BS the media spout all the time.

Thank you for your efforts and sharing your expertise.

You're more than welcome.

Share this post


Link to post
Share on other sites

Make housing cheaper by removing all of the government funded props, I'd go as far as to ban government intervention to prevent an HPC.

Increase income tax threshold (or lower the %) - funded by abolishing WTC, CTC, all BTL tax breaks and making OO live at a property for at least 2 years before they get any sort of CGT tax relief with the onus on being on OO to prove beyond all reasonable doubt they've lived there as their PPR (to stop flipping of houses) - perhaps with an exception for those made redundant or having to move to another part of the country for work.

Share this post


Link to post
Share on other sites

Scrap Help to Buy.

Scrap Right to Buy.

Ban BTL mortgages.

Ban shared ownership.

Reintroduce proper building regulations.

Cut housing benefit in half.

Go back to cutting tax credits.

100% inheritance tax.

No more pension changes.

Raise interest rates.

Share this post


Link to post
Share on other sites

Other than removing the props supporting HPI, hows about bringing corporation tax & business rates into the 21st century to make it easier & more worthwhile to run a small business & level the playing field between small/large & online/high street businesses?

Share this post


Link to post
Share on other sites

I think george will go after tax credits again. torys hate them

I hope your right,but i cant see how he can.He stepped back from every single change.The only thing he could revisit would be hours maybe.They are already freezing working age benefits for four years.Given they will probably walk the next election assuming Labour dont change the leadership they will probably freeze them again,or increase at 1% if they think CPI will be higher.

He might throw billions at IDS though to get Universal Credit working.He loaded the cuts into that instead,even though so far we have seen its a complete disaster.

For me its pretty simple.Scrap all working age benefits.Introduce Land value tax.Introduce citizens income for people over 18 with 10 years living here.Increase child benefit to £30 a week per child.Job done.

Edited by durhamborn

Share this post


Link to post
Share on other sites

Other than removing the props supporting HPI, hows about bringing corporation tax & business rates into the 21st century to make it easier & more worthwhile to run a small business & level the playing field between small/large & online/high street businesses?

On that point, scrap the stupid EU rules which mean small internet sellers have to collect lots of personal data about their customers and charge 81 different VAT rates depending on where they think their customer might be. With penalties if they get it wrong. It's literally impossible to reliably locate people on the Internet, even if they are giving you money, so there's no way to ensure you comply.

http://euvataction.org/

This is one of the big things that has swung me in favour of 'Leave' - over a year later and still no concrete changes to the rules. Our 'leaders' seem determined to actively disadvantage domestic business. A law which was supposed to deal with Amazon's tax avoidance actually means small entrepreneurs have no choice but to sell through big intermediaries - like Amazon.

So much for being competitive globally.

Share this post


Link to post
Share on other sites

On that point, scrap the stupid EU rules which mean small internet sellers have to collect lots of personal data about their customers and charge 81 different VAT rates depending on where they think their customer might be. With penalties if they get it wrong. It's literally impossible to reliably locate people on the Internet, even if they are giving you money, so there's no way to ensure you comply.

http://euvataction.org/

This is one of the big things that has swung me in favour of 'Leave' - over a year later and still no concrete changes to the rules. Our 'leaders' seem determined to actively disadvantage domestic business. A law which was supposed to deal with Amazon's tax avoidance actually means small entrepreneurs have no choice but to sell through big intermediaries - like Amazon.

So much for being competitive globally.

As Winkie put it yesterday, "low hanging fruit" -making tax & regs difficult creates income.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • Next General Election   91 members have voted

    1. 1. When do you predict the next general election will be held?


      • 2019
      • 2020
      • 2021
      • 2022

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.