Thursday, Oct 12, 2006

Chancellors coffers to be hit by house price crash

Firstrung: House price crash 'may cut €3bn off tax take'

What a revenue driver this house price boom has been, not just for the Irish, but also for UK residents. That extra cash coming back will be missed..

Posted by converted lurker @ 10:39 AM (475 views)
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3 Comments

1. Distant_daz said...

"The worst case assumes a 20pc fall in both output and prices, which is much worse than anyone is predicting. But economist Rossa White says the calculations show how exposed the government finances are to a property downturn. "

Hence the pressure that the Goverment puts on the MPC not to raise IR........

Thursday, October 12, 2006 11:18AM Report Comment
 

2. Boarder said...

Remember that, if the stamp duty is part of the mortgage, that this tax is a tax on future income!

Thursday, October 12, 2006 02:27PM Report Comment
 

3. Nohpc said...

The extra cash will not be missed as they will find another way to tax us and make the money.

Thursday, October 12, 2006 11:08PM Report Comment
 

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