To be scared of Labours Land tax

[Dragongirl10]

Just read about this, Labour are proposing a Land Value Tax on any land owned, could cost thousands a year for anyone even with a small house, not just the rich....they have not publicised this at all.

People with modest homes could be forced to sell or go into debt, or be repossessed...

"A Labour government will give local
government extra funding next year.
We will initiate a review into
reforming council tax and business
rates and consider new options
such as a land value tax, to ensure
local government has sustainable
funding for the long term."

And the tory marketing department generates scare stories to plant in their house journals.

it's a bit depressing when people like Halle think they are quoting a manifesto, when they are actually quoting the Daily Express.

It has been posted earlier in the thread and, from memory, it's on p89 of the manifesto or thereabouts, but it says "and will consider new options such a land value tax".
If it stopped after the word 'options' this post wouldn't have been started, but it specifically mentions LVT.
Are you suggesting this has just been mentioned for shits and giggles?! Or because it is a possible outcome?

And Rhayader seems to have convinced herself that there will be a uniform rate throughout the country. This is pure fantasy because nothing of the kind has been decided or even suggested by the party.

Have a look back in history, Rhayader. and look up "Rateable Value" and "pence in pound"

But it is in the manifesto 😂
It's the only option suggested and therefore the only option we can discuss.
If it isn't one of the strongest options why even mention it?

Halle, you are too late. We got bored waiting for you. The ACTUAL wording is above, not quite as you imagine it.

You have made a bit of a leap of imagination in assuming that only one option will be considered, and that you know how the calculation will be done.

halle

I did think that the post should stop after options

Then i thought if they did that they would get loads of 'what new options labour dont have a fucking clue' comments

So they gave an example of something new and then get a load of lying fuckwits in the papers making up a load of figures to frighten people

I am actually really annoyed that some of these papers are getting away with complete fabrications

And at least labour and the lib dems are saying that taxes will rise

Labour for over 80k and lib dem at 1%

The tories are saying nothing...and thinking that no one will catch on

Taxes are going to rise whoever gets in

Its just a matter of who is getting shafted...and how hard

To coin a very unsavory phrase

Piglet, you touch on different geographical rates throughout the country - how would this work?
My postcode prefix SWXX is split into two vastly different areas - one where a decent 3 bed terrace costs circa £600k, the other where it would cost closer to £1.2m.
And along the borders of these areas, something in between.

Piglet, how do YOU see it working? As you seem to be quite the Corbyn fan - what do you think he will do that will improve the status quo without shafting lots of people?

And don't bleat on about the multi millionaires. Only a fool would think they won't pay their way out of it. We're talking about actual people who will be affected.

Ah yes, sorry piglet. Needed a stiff drink. And can't copy and paste!!
The word 'will' that I added was not in the manifesto, but this does not change the meaning.
And it was quoted correctly earlier in the thread so your request I do it again was quite unnecessary.
It does mention that LVT is a possibity and it is that possibility that is being discussed. Of course nothing is definite and I don't think anyone has indicated that they think it is.

I think as long as its kept at a low rate for residential properties it could work quite well

It could be similar to council tax bandings which are a rather blunt tool

And before anyone asks...i dont vote labour, I usually vote tory and i dont give a shiny shit about may or Corbyn

halle

It does mention that LVT is a possibility and it is one of the options being discussed

According to the income tax calculator posted above, dh will be worse off under the Lid Dems and best under UKIP with a difference of £2800 between top and bottom. Oh, I've just realised I've forgotten the salary sacrifice for childcare vouchers so that's wrong

I will be worse off by £200 under Labour and there's not much between the other three. I should probably pay more into my pension to reduce my tax liability... and to have something to live on when I retire.

I'm going to have another play. Dh was not happy, he was thinking about voting Lib Dem.

PigletJohn, you really don't want to see it.
It's there, in the Manifesto as posted many times. It's put there by Labour.

You can deny it, but you can't make it go away.

I really dont think piglet is the one with comprehension problems

He's the one with the denial problem.

I started work in 1979. Basic rate tax was 30%. No idea what the non tax part was but all I ended up with was £80 per month to pay £15 per week rent, £2.54 weekly travel ticket. Used to work in a pub to make ends meet to pay for food and electric

At no point has piglet denied that its in the manifesto

Isnt it you who says "proof or it didnt happen'

And i got it right about when olivers started work

God I'm good

Rufus, Piglet might not have denied it appears, but did seem hell bent on proving a point re my slip when paraphrasing.

And it really doesn't matter because it doesn't impact my point - that it is the most logical option to discuss, simply because it was THE ONLY ONE MENTIONED. I can't imagine it was an arbitrary decision to include it. Say, to fill up space, or make the sentence more interesting.....

Halle

I am certainly hell bent on alerting you to your error when you claimed incorrectly that the manifesto said the review was "with a view to changing it to LVT."

Because it doesn't say that.

I am pleased that you have almost agreed that what the manifesto says is different to what the Daily Express says.

Sadly Chardonnay has not yet reached this level of enlightenment.

Not sure its been mentioned but the LVT would be payable on the value of the undeveloped piece of land, so the owner of said plot of land will only pay 0.85% of the value because you have chosen to dwell on that plot of land, the garden is included as part of the property, where it hits the hardest is where people are hording land and artificially inflating the property market, so landlords depending on the size of their portfolio would be charged a 3% rate on all aditional plots of land

So to reiterate 0.85% on the undeveloped value of the land

What are the supposed benefits of LVT?
· It is just, because it returns to the community the increase in site value created by the community and in many cases funded by the community.
· It does not take anything earned by from individual effort or the product of labour.
· It is not based on ability to pay but on benefits arising from having the sole use of a site.
· It cannot be evaded, avoided, hidden in off shore trusts.
· It cannot be passed on by landowners in higher rents or by producers and retailers in higher prices.
· It is simple to collect. The assessment and administration are relatively easy. It will not require thousands of civil servants to run.
· As a progressive system, the tax falls heaviest where it is easiest to pay.
· It will ensure that vacant and under-used land is brought into best use.
· It will prevent land speculation leading to unnaturally high house prices.
· It will prevent urban sprawl due to land being deliberately held out of use.
· It will force owners of empty or derelict houses to make them habitable and available.
· It will stimulate economic activity, particularly at the margin, creating job opportunities and promoting wealth creation because marginal sites will pay no tax.
· Interest rates can be kept low. The Bank of England attempts to control land price and property inflation with a high base rate. LVT will allow the Bank to keep interest rates low for the benefit of the whole community – including landowners.
· It can replace existing unfair and inefficient taxes on production, wages, sales, exchange, as well as impositions such as Council Tax and Uniform Business Rate.
· It is not a burden on production like all current taxes that are passed on in higher prices resulting in lower wages and the need for the State to provide a myriad of benefits to mitigate poverty.
· Land Value Taxation accords with natural law and economic justice. It ensures that everyone keeps the wealth they create, and any extra due to location is given back to society. Nobody has unfair privileges, and everyone has an equal chance to succeed.

www.c4ej.com/resources/a-simple-guide-to-land-value-tax