Page 3 | Latest mansion tax should be on top % homes locally not nationallu

Lionfisher · 2025-10-27T22:37:05+00:00

Rachel Reeves is front running yet another class warfare policy in the press, this time suggesting everyone who lives in a home over £2m should have to pay 1% on anything above 2m. First - I’m fine with this. I live in SW London and would probably have to pay some. But I’m ONLY fine with it if everyone round the country does too. Meaning that it should be on the top 5% of homes by REGION (I’ll leave it to other people to argue what region means, all the data is there to do it). We could happily sell our 4 bed home and move somewhere else in the country and buy a 10 bed castle. Or just buy another 4 bed home and stash the rest in the markets. TBH we might even do that if this comes in. But people don’t want us to do this because it prices them out of local homes etc. Which is pretty much what this policy would do, price people out of local homes so they move elsewhere and prices up somewhere else instead. But more than anything you can be far more rich on far less money in other parts of the country. So this isn’t a tax on property it’s a tax on the south. As long as top X% of homeowners elsewhere are paying their 1% above their threshold I’ve no issues with this. But people won’t agree with me as it’s easier to think it should always be “other people” who pay…. or will they?

Phonicshaskilledmeoff · 11/11/2025 23:44

Unexpectedlysinglemum · 27/10/2025 23:29

They need to remove stamp duty for downsizers or the boomers won’t move on.

Show quote history

I’ve said this for years. I’ve no idea why they wouldn’t do this.

Pixieknowle · 01/11/2025 20:53

Hellohelga · 27/10/2025 23:32

Lol no one has a £1.5m mortgage.

Im in London area and well off, but my house is below £2m. These people may not like it but can def afford it. BTW it’s not just London, there are a lot of multi million pound houses in the New Forest and they sell like hot cakes. There are some seriously wealthy people out there.

Show quote history

We have a 1.5m mortgage just fyi

PeonyPatch · 01/11/2025 06:22

Agree this will likely burn people in the south more. Such a divide!

Leavesfalling · 31/10/2025 13:40

strawberrybubblegum · 31/10/2025 05:49

the vast amount of debt the Tories accrued

How can you say that with a straight face?!?

Public borrowing in the financial year ending (FYE) March 2024 - when the Conservatives were in power - was £120.3 billion.

In the last 6 months, Labour borrowed an extra £99.8 billion. In 6 months! That's 65% more than the Conservatives.

And as for debt!!

Government gross debt in July 2024 was £2.8324 trillion
Government gross debt is now £3.0589 trillion. That's £226.6 billion more debt than when they came to power 15 months ago.

... compared to £91.7 billion added to the national debt in the last 15 months of the Conservative term.

Labour has increased UK debt by two and a half times as much as the Conservatives did in their last 15 months. Despite increasing taxes by a record 'one off' £40 billion last year... about to be repeated!

I mean surely you're not comparing debt accrued whilst the global economy came to a standstill - including 6 months where half the UK population didn't work - due to the global pandemic to... a very ordinary year when Labour should have been strengthening our economy?!?

Edited

Show quote history

That's extraordinary. And terrifying. But unfortunately no surprise.

ShesTheAlbatross · 31/10/2025 08:34

Cantseetreesforthewood · 31/10/2025 08:16

Absolutely.

Ignore the first few paragraphs, where they look at CT compared to income, which just makes the difference even more stark, and look at the tables at the bottom. Some of the most deprived areas have the highest council tax, and most of the cheapest CT is in London.

https://moneyweek.com/personal-finance/council-tax-burden-highest-lowest-uk

Show quote history

But is the argument that London CT should be put up and given to other areas?

Cantseetreesforthewood · 31/10/2025 08:16

ShesTheAlbatross · 30/10/2025 22:26

Are you saying London council tax is low? I’ve no idea (I don’t live in London) but doesn’t CT just go to the local area? So London CT going up wouldn’t benefit any other areas?

Show quote history

Absolutely.

Ignore the first few paragraphs, where they look at CT compared to income, which just makes the difference even more stark, and look at the tables at the bottom. Some of the most deprived areas have the highest council tax, and most of the cheapest CT is in London.

https://moneyweek.com/personal-finance/council-tax-burden-highest-lowest-uk

The UK areas with the highest and lowest council tax burden

London residents are less impacted by council tax compared to other parts of the UK, new data shows

https://moneyweek.com/personal-finance/council-tax-burden-highest-lowest-uk

strawberrybubblegum · 31/10/2025 05:50

All Labour know how to do is tax and borrow.

strawberrybubblegum · 31/10/2025 05:49

BIossomtoes · 30/10/2025 23:40

I don’t know about anyone else but I’m not currently paying any more tax than I was in June 2024. I expect I will be after the Budget - and most of it will be used to pay interest on the vast amount of debt the Tories accrued. Nobody apparently complained when they got an unfunded NI cut - I wonder why that is ?

Show quote history

the vast amount of debt the Tories accrued

How can you say that with a straight face?!?

Public borrowing in the financial year ending (FYE) March 2024 - when the Conservatives were in power - was £120.3 billion.

In the last 6 months, Labour borrowed an extra £99.8 billion. In 6 months! That's 65% more than the Conservatives.

And as for debt!!

Government gross debt in July 2024 was £2.8324 trillion
Government gross debt is now £3.0589 trillion. That's £226.6 billion more debt than when they came to power 15 months ago.

... compared to £91.7 billion added to the national debt in the last 15 months of the Conservative term.

Labour has increased UK debt by two and a half times as much as the Conservatives did in their last 15 months. Despite increasing taxes by a record 'one off' £40 billion last year... about to be repeated!

I mean surely you're not comparing debt accrued whilst the global economy came to a standstill - including 6 months where half the UK population didn't work - due to the global pandemic to... a very ordinary year when Labour should have been strengthening our economy?!?

BIossomtoes · 30/10/2025 23:40

Leavesfalling · 30/10/2025 22:52

They are compared to the views of the country though. The centre has shifted. I'd say RR s pocketing of everyone else's money and giving it to the public sector to placate the unions is pretty left wing. She clearly thinks she has a right to pinch our money. And Bridget Philistine's (,sorry...I know its annoying to use nicknames but in her case its just so apt!) war against children's education for ideological reasons is pretty left wing!

Show quote history

I don’t know about anyone else but I’m not currently paying any more tax than I was in June 2024. I expect I will be after the Budget - and most of it will be used to pay interest on the vast amount of debt the Tories accrued. Nobody apparently complained when they got an unfunded NI cut - I wonder why that is ?

Leavesfalling · 30/10/2025 22:52

TheGrimSmile · 30/10/2025 18:20

This Labour party are NOT left wing!

Show quote history

They are compared to the views of the country though. The centre has shifted. I'd say RR s pocketing of everyone else's money and giving it to the public sector to placate the unions is pretty left wing. She clearly thinks she has a right to pinch our money. And Bridget Philistine's (,sorry...I know its annoying to use nicknames but in her case its just so apt!) war against children's education for ideological reasons is pretty left wing!

ShesTheAlbatross · 30/10/2025 22:26

TheGrimSmile · 30/10/2025 18:23

Also, I think someone should start a thread where we all state what area we live in roughly, what size our houses are and how much council tax we pay. I think it would be eye- opening. The rest of the country is being shafted by London.

Are you saying London council tax is low? I’ve no idea (I don’t live in London) but doesn’t CT just go to the local area? So London CT going up wouldn’t benefit any other areas?

ArseInTheCoOpWindow · 30/10/2025 19:21

phantomofthepopera · 30/10/2025 19:02

Liverpool. Four beds. £4,244 a year. But yeah, everything is so much cheaper up here, so they say. Our council have stated they are providing no services this year other than social care and bin emptying.

Show quote history

😲

Sheffield £2600. 4 bed semi in nice area.Don’t get anything for it though. Bins emptied fortnightly, getting into any local tip
is like a military operation. City centre non existent. Schools on their knees

phantomofthepopera · 30/10/2025 19:02

TheGrimSmile · 30/10/2025 18:23

Also, I think someone should start a thread where we all state what area we live in roughly, what size our houses are and how much council tax we pay. I think it would be eye- opening. The rest of the country is being shafted by London.

Liverpool. Four beds. £4,244 a year. But yeah, everything is so much cheaper up here, so they say. Our council have stated they are providing no services this year other than social care and bin emptying.

suburburban · 30/10/2025 18:31

BIossomtoes · 30/10/2025 17:58

Until you die.

Show quote history

Yes but shrouds have no pockets😂

or may need to go into a care home

NorthXNorthWest · 30/10/2025 18:30

househelp12345 · 30/10/2025 16:46

@Leavesfallingthis is only a tax on unearned wealth if you’ve had your home for ages and it’s increased in value. Otherwise it’s an additional and unexpected expense on what for some will be a recent (now falling in value) purchase of a family home. In the south many families have been saving for years - yes, high earners but already paying eye watering amounts of tax. To then slap an additional charge on that home purchase just doesn’t seem right or fair

Edited

Why should anyone have to sell their only home to pay a tax? How is that fair? It does not matter what you think your house is worth or what the estate agent tells you. It is only worth what a buyer is prepared to pay, at the moment that is likely to someway below the asking price.

TheGrimSmile · 30/10/2025 18:23

Also, I think someone should start a thread where we all state what area we live in roughly, what size our houses are and how much council tax we pay. I think it would be eye- opening. The rest of the country is being shafted by London.

TheGrimSmile · 30/10/2025 18:20

Leavesfalling · 28/10/2025 07:09

Remember we are dealing with a left wing government here. Socialists believe that all wealth belongs to the state really. They just chose how much you are allowed to keep.

So don't assume any fairness will apply. Or any thought as to the effectiveness of the policy or how much it will raise. Labour hasn't applied logic to any of their changes so far. They don't care if the tax is unfair or targeting any particular group. They just hate people they consider rich which is the middle classes. So I definitely think they will be gunning for our houses now. Why wouldn't they? Perfectly logical to them looking at what destruction they have already wreaked.

We should all be living smaller and less prosperous lives and no one should be able to buy any advantage over anyone else. And that incudes a house over £500,000. And if you try and better yourself Labour will slap you down in the name of "fairness and equality".

This Labour party are NOT left wing!

NorthXNorthWest · 30/10/2025 18:11

Lionfisher · 30/10/2025 16:10

You seem to think the whole of the SE has tubes and buses and public transport everywhere. That’s London. And the streets are paved with gold. That’s nowhere.

We are 15 miles outside London. I’m on the edge of a town, not a big town like Guildford or farnborough, just a normal sized town.

There are a handful of buses that come into the town from Greater London (we are the end of the route). To get one it would take us 50 mins to walk to the nearest stop. They go maybe twice an hour.

We then have two buses that go down the main road, once every two hours, joining the villages up. My cleaner lives 5 miles away, it takes her 1h 30 to get here via three buses.

its FAR worse when you get further away and into other parts of the south east, where they face exactly the same challenges as everywhere else.

At one point recently, Surrey schools had some of the fewest spare school spaces in the country because everyone comes to live here and nothing got built. We didn’t get either of the schools we were in the catchment for because they were oversubscribed. all the secondaries were living out of temporary classrooms for years until a new secondary was eventually built.

Our rubbish collected twice a week, which is better but I’m not sure you could say it was great. And all the museums and parks near us are a fortune to get in. One near us is £16 for an adult… for the park.

Show quote history

My cleaner lives 5 miles away, it takes her 1h 30 to get here via three buses.

Perspective is everything...

BIossomtoes · 30/10/2025 17:58

suburburban · 30/10/2025 17:03

Also even if you’re house has massively inflated, it is so expensive to buy anything else unless you move away with extra stamp duty threshold they raised this year so no financial gain

Show quote history

Until you die.

suburburban · 30/10/2025 17:03

househelp12345 · 30/10/2025 16:46

@Leavesfallingthis is only a tax on unearned wealth if you’ve had your home for ages and it’s increased in value. Otherwise it’s an additional and unexpected expense on what for some will be a recent (now falling in value) purchase of a family home. In the south many families have been saving for years - yes, high earners but already paying eye watering amounts of tax. To then slap an additional charge on that home purchase just doesn’t seem right or fair

Edited

Also even if you’re house has massively inflated, it is so expensive to buy anything else unless you move away with extra stamp duty threshold they raised this year so no financial gain

Leavesfalling · 30/10/2025 16:48

househelp12345 · 30/10/2025 16:46

@Leavesfallingthis is only a tax on unearned wealth if you’ve had your home for ages and it’s increased in value. Otherwise it’s an additional and unexpected expense on what for some will be a recent (now falling in value) purchase of a family home. In the south many families have been saving for years - yes, high earners but already paying eye watering amounts of tax. To then slap an additional charge on that home purchase just doesn’t seem right or fair

Edited

Agree. I think I've been through all that upthread. I did give an example too of the circumstances in which it could be considered unearned.

househelp12345 · 30/10/2025 16:46

@Leavesfallingthis is only a tax on unearned wealth if you’ve had your home for ages and it’s increased in value. Otherwise it’s an additional and unexpected expense on what for some will be a recent (now falling in value) purchase of a family home. In the south many families have been saving for years - yes, high earners but already paying eye watering amounts of tax. To then slap an additional charge on that home purchase just doesn’t seem right or fair

MaturingCheeseball · 30/10/2025 16:14

@mamagogo1 - I suggest you undertake a road trip round Britain - nay, a bus trip. Then report back on what you find in the south east.

I am amazed that my dcs were receiving free transport to sixth form according to you. Why on earth in the land of milk and honey that is the south east was I paying £1000 a year?

Original poster

Lionfisher · 30/10/2025 16:10

mamagogo1 · 30/10/2025 15:55

@Lionfisher

im guessing you are se based. As soon as you live outside of the se you realise you are a second class citizen, we have 3 buses an hour, a luxury compared to the next village along which now has zero public transport, zero (bus company pulled out during pandemic, council can no longer afford to run subsidised services) we get our rubbish picked up every 3 weeks, we have no children’s centres, elder care centres or anything other than bare minimum unless run as a charity with no public support, and our council no longer funds 6th form travel meaning you can’t got to sixth form unless you can afford £1100 a year for a bus pass. The museum (crappy local museum) is £6.80 to visit whereas in London they are amazing and free.

You seem to think the whole of the SE has tubes and buses and public transport everywhere. That’s London. And the streets are paved with gold. That’s nowhere.

We are 15 miles outside London. I’m on the edge of a town, not a big town like Guildford or farnborough, just a normal sized town.

There are a handful of buses that come into the town from Greater London (we are the end of the route). To get one it would take us 50 mins to walk to the nearest stop. They go maybe twice an hour.

We then have two buses that go down the main road, once every two hours, joining the villages up. My cleaner lives 5 miles away, it takes her 1h 30 to get here via three buses.

its FAR worse when you get further away and into other parts of the south east, where they face exactly the same challenges as everywhere else.

At one point recently, Surrey schools had some of the fewest spare school spaces in the country because everyone comes to live here and nothing got built. We didn’t get either of the schools we were in the catchment for because they were oversubscribed. all the secondaries were living out of temporary classrooms for years until a new secondary was eventually built.

Our rubbish collected twice a week, which is better but I’m not sure you could say it was great. And all the museums and parks near us are a fortune to get in. One near us is £16 for an adult… for the park.

OP posts:

Pjnow · 30/10/2025 16:05

Leavesfalling · 30/10/2025 15:48

Let's just wait and see...we haven't had the Budget yet, read out by one of the most popular Chancellors in living memory.

Show quote history

Exactly. We had all this last time round. Loads of panic on MN and certain press whipping up a frenzy, and it turned out to be mostly fine.