Thursday, October 12, 2006
Chancellors coffers to be hit by house price crash
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 (516 views)
3 thoughts on “Chancellors coffers to be hit by house price crash”
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Distant_daz says:
“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……..
Boarder says:
Remember that, if the stamp duty is part of the mortgage, that this tax is a tax on future income!
Nohpc says:
The extra cash will not be missed as they will find another way to tax us and make the money.