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Second Home Owners In Fashionable Cornish Holiday Spots Are Asked To Pay A 'guilt Tax' To Help Locals Priced Out Of The Property Market

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Love the comments below from this entrepreneur, he owns 7 homes, yet claims they're only second homes. Then claims this is good for the economy ... certainly not good for the economy of the priced out under 45s who need HB to put a roof over their head. Blair and Camerons entrepreneurs don't you just love them. W4nker!



But Padstow estate agent Peter Olivey, who owns seven holiday apartments in Cornwall, said: 'Holiday homes are part and parcel of the county and the Cornish economy is stronger for it.


'I have reservations about how successful this scheme will be and how many people will contribute. It's not a bottomless pit – owners are already paying higher stamp duty. You could call it a 'guilt tax'


'People shouldn't be made to feel guilty for having a second home, but I think as a nation we are quite happy to knock someone who has been a bit more successful.'

Edited by Rigged

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Seems a good idea. if we did brexit and the money the EU is forcing London to distribute to the regions in Cornwall stops. Then things like guilt taxes will rocket.

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Most of the best-rated comments are blaming the locals for setting sky-high asking prices which only Londoners can afford. A really warped mindset.

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So many problems in UK property would be resolved by having a 3% tax on the value of property, with a 1.5% reduction for your first home (and with a presumption that anything not 'normal' - foreign owned, company owned, etc - doesn't qualify for the discount).

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'People shouldn't be made to feel guilty for having a second home, but I think as a nation we are quite happy to knock someone who has been a bit more successful.'

He's right. There's no guilt to having a second home.

But the cost of it should reflect the cost to society. Historically it never has, but Osborne's recent tax changes look like a modest move in that direction. It's just a shame he's doing the opposite in other fields.

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T

They say second-home owners already bring millions to local economies through supporting businesses and paying council tax.

Bah, I'm sure they don't put as much into the local economy as someone living there 100% of the time! Tax them more!

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Most of the best-rated comments are blaming the locals for setting sky-high asking prices which only Londoners can afford. A really warped mindset.

Thats true, a lot of homes are priced to sell to londoners, knowing full well locals dont have a chicken in hell of being able to afford.

The analagy is like parts of london, much higher prices close to the centre (or a beach), and cheap in the council estates (though i doubt that actually applies to london anymore, its all kite flying prices lol)

Once the london market for second homes evaporates in a few years, prices will revert to the local price.

Edited by GreenDevil

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He's right. There's no guilt to having a second home.

But the cost of it should reflect the cost to society. Historically it never has, but Osborne's recent tax changes look like a modest move in that direction. It's just a shame he's doing the opposite in other fields.

He hasn't got a 2nd home, he's got 7.

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Thats true, a lot of homes are priced to sell to londoners, knowing full well locals dont have a chicken in hell of being able to afford.

The analagy is like parts of london, much higher prices close to the centre (or a beach), and cheap in the council estates (though i doubt that actually applies to london anymore, its all kite flying prices lol)

Once the london market for second homes evaporates in a few years, prices will revert to the local price.

The market for 2nd homes for rich foreigners to hide wealth is here to stay unless urgent action is taken.

Where better a place to hide your ill gotten gains that in the fraud capital of the world.

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I really do question just how much second home owners and tourists bring to local economies... my family live in a coastal area of Wales that has had a massive publicity drive in the last couple of years to promote it to the mass tourism market, in one sense it has been a success in so much as numbers of visitors have shot up by around 300%

However, this huge increase in visitor numbers hasn't resulted in any significant new jobs or businesses being created, no improvement to local amenities or infrastructure and no obvious benefit at all to local residents, in fact the local shop and Post Office closed down last year, all it's brought is traffic chaos and a beach full of litter.

As far as penalising holiday home owners is concerned, anyone who can afford to spend £200k+ on a property they only use for 4-5 weeks a year clearly isn't going to lose any sleep over 25% on their council tax or even a couple of grand 'guilt tax'

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Love the comments below from this entrepreneur, he owns 7 homes, yet claims they're only second homes. Then claims this is good for the economy ... certainly not good for the economy of the priced out under 45s who need HB to put a roof over their head. Blair and Camerons entrepreneurs don't you just love them. W4nker!
But Padstow estate agent Peter Olivey, who owns seven holiday apartments in Cornwall, said: 'Holiday homes are part and parcel of the county and the Cornish economy is stronger for it.
'I have reservations about how successful this scheme will be and how many people will contribute. It's not a bottomless pit – owners are already paying higher stamp duty. You could call it a 'guilt tax'
'People shouldn't be made to feel guilty for having a second home, but I think as a nation we are quite happy to knock someone who has been a bit more successful.'

Warped definition of "successful".

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Most of the best-rated comments are blaming the locals for setting sky-high asking prices which only Londoners can afford. A really warped mindset.

My brother, who lives in Cornwall, told me about an elderly neighbour who disliked the effects of 'incomers' and sold his 3 bed semi direct to a local, young family, cheaply. Five months later, after a refurb, they sold it and it is now on the rental market with an 'upcountry' landlard.

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38'000? Not much, coupla weeks hpi....

£38000 by 12 investors,

hardly a rip roaring success.

here's my idea.

council tax.

first home 100%

second home 110%

third -fifth homes 120%

fifth to tenth 130%

over 10= 150%

by my reckoning at council tax of about £1500 average per year, that rakes in AT LEAST an extra £150 per property per year.

multiplied by maybe 1 million landlords=

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I really do question just how much second home owners and tourists bring to local economies... my family live in a coastal area of Wales that has had a massive publicity drive in the last couple of years to promote it to the mass tourism market, in one sense it has been a success in so much as numbers of visitors have shot up by around 300%

However, this huge increase in visitor numbers hasn't resulted in any significant new jobs or businesses being created, no improvement to local amenities or infrastructure and no obvious benefit at all to local residents, in fact the local shop and Post Office closed down last year, all it's brought is traffic chaos and a beach full of litter.

As far as penalising holiday home owners is concerned, anyone who can afford to spend £200k+ on a property they only use for 4-5 weeks a year clearly isn't going to lose any sleep over 25% on their council tax or even a couple of grand 'guilt tax'

I agree completely. I live in an area of the south east very popular with second home owners and day trippers, and outside of the obvious tourist businesses - that do of course live or die based on tourism - there is no benefit that I can discern. As a rule, visitors don't spend a lot in local shops (they bring with, even for the weekend - wouldn't want to waste that precious holiday time in Tesco), the traffic is a nightmare and we are effectively unable to use our local beach during peak holiday season.

The vast majority of the effects are negative - house prices being the obvious one, as there is simply no way that a local earner can compete with a Londoner with HPI winnings to spend. I don't blame locals for selling for the highest price they can get - I would too, of course - but you end up with a housing market that bears no relation to the local economy, with the ridiculous situation around me that pretty much all of the nicer houses are occupied for a fraction of the year whilst the locals are crammed into new-build boxes - whilst at the same time we are supposed to be grateful for these visitors lining the pockets of a few local businesses (primarily the privately owned beach carpark - which also makes our life a misery due to traffic during the summer holidays and gives precisely FA back to the local economy unless you count a couple of minimum wage jobs picking litter on the beach).

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