Saturday, August 20, 2011

Pickles re-defines “middle-class” as living in a £2m house and earning over £150,000

Eric Pickles says no to higher property taxes for middle classes

n an interview with The Daily Telegraph, Eric Pickles, the Communities Secretary, states that hard-working home owners “put a lot into this country and don’t take a lot out”. He says that his Liberal Democrat Coalition partners have “got to understand” that introducing any form of so-called mansion tax would be a “big mistake”. He adds that the 50p higher rate of income tax should be scrapped so families can “keep more in their pockets”. His intervention will add to Coalition tensions ahead of the autumn conference season.

Posted by drewster @ 10:44 AM (1833 views)
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13 thoughts on “Pickles re-defines “middle-class” as living in a £2m house and earning over £150,000

  • If Gordon Brown went from being Stalin to being Mr. Bean, hasn’t Vince Cable gone from being an economic guru to being Bozo the Clown?

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  • mark wadsworth says:

    I dealt with this one a few minutes ago Circular Logic By The Circular One

    My new cunning plan is that we introduce LVT, and nudge the rates up every year BUT TO MINIMISE WHINING we give people a £ for £ credit against their other tax liabilities. After a few years, net receipts from other taxes (income tax, whatever) will be virtually nil because everybody will “right size” (i.e. choose a house where the LVT is approx. equal to their current tax bill) and then we can quietly scrap all other taxes without anybody noticing.

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  • 2 million pound house with £150K income. That’s 13.3 X income, but I can’t borrow 13 X my income.

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  • Interest only mortgage at 2.5% should do it, £4200/month repayments and your the new middle class.

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  • Raising the bar some more and causing some more destruction should do the job.

    A ticket to Serf City Sir? How much?

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  • mark wadsworth says:

    Uncle Tom: “Suggesting that the Land Registry can work out how much every property is worth at the click of a button also reveals how little understanding you have of the property market…”

    Ah yes, but I never said that, did I? What I actually said was: “HM Land Registry have all the information they need to calculate a reasonably accurate tax rate for land in every single postcode sector – it’s only relative values that matter, not absolute ones.” and even if we go with Pickle’s estimate, it would be £5 per home, big deal.

    As we both well know it is RELATIVE and not ABSOLUTE land values that matter, because the tax (in fact any tax) is then an arbitrary percentage of these relative values. And as we also know, since 2000 when HNLR started recording (and publishing) the figures for prices paid, over half of all homes in the whole country have changed hands at least once. I think that gives us plenty to work on and further, I accept that this is not hyper-scientific, but so what? As you get a £ for £ reduction in your other taxes, if your LVT is over BY £1 then your other taxes are cut by that “extra” £ anyways.

    What’s not to like?

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  • sibley's b'stard child says:

    Bloody hell UT, since when did such base ad homs become acceptable on here; did I miss the memo?

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  • … personal abuse is strictly off-limits – it rebounds against you.

    Your blog makes you look a complete tw*t..

    – reflect on that..

    Err …

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  • mark wadsworth says:

    SBC, Paul, I have taken the sacred but unsworn oath of all Georgists down the ages, which is to be polite and helpful at all times, bearing in mind that we are expecting a huge leap of faith from people to unlearn what has been drummed into them for centuries.

    We collect personal attacks with the same gusto as Premier League footballers collect speeding tickets 🙂

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  • sibley's b'stard child says:

    Meh, turning the other cheek is so nineteenth century.

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  • Time out UT.

    Try it with some humour.

    I think it’s called negging in the pick up community.

    They say it’s guaranteed to hook your man. 😉

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  • mark wadsworth says:

    SBC, I’ll politely ignore that 🙂

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  • @11 MW

    or LD ministers give speeding tickets out to friends and family.

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