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...

That wasnt my question walking

How much are the tories putting on tax?

They will put it up whether it be income tax or NI or something

They just don't appear to be very forthcoming

How much are the Tories putting on tax?
A little up a little down. Net effect will be lower taxes.

Oh excellent

So where have you read that, it would be good to take a look at their tax plans before the vote tomorrow

So where have you read that, it would be good to take a look

Its ok, thats what the Conservative party exists to do, lower taxes. Just like we dont need to know Labour is the party of tax and spent, its been decades in the making. Over time they cancel watch other out.

I have no doubt that after the Tories have fixed the economy people will vote back in Labour to run up the credit card again. Always was thus.

Aaahh so you dont know what they are planning tax wise

That fallan bloke said they are not thinking of charging extra tax on higher earners so thats a plus

They didn't mention lower earners though...

He may have changed his mind though

NI rise for self employed was on the cards but thats gone now hasnt it...at least for the moment

The Conservatives have ruled out raising income taxes on the highest earners – despite having refused to make the same pledge for taxpayers on lower incomes.Theresa May has repeatedly refused to rule out raising tax on ordinary workers during the election campaign, with income tax and national insurance hikes potentially on the table.

I reckon national insurance will go up

I dont pay it at the moment as i am very part time, maybe they will charge it on all wages

Could that happen

Whether labour or lib dem or tory do it...could that happen

I could ask DH but i will just get an hour lecture on tax

Aaahh so you dont know what they are planning tax wise
Yeah I do, Tories will lower taxes, Labour will raise them. Its what always happens. Except in this case where Labour have taken steriods and will push taxes through the roof.

steroids

walking

I would be happy to sit here and agree that labour will raise them more than tories

I have no idea but i do like a thread to end happily

But if you dont think that the tories will raise tax or more likely NI then i think you may be clutching at straws

Most people on mumsnet will be better off if the Conservatives win tomorrow.

Dh says that as well mary

Well for us anyway

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

For some of you who CLEARLY need to actually read about LVT and how it works being as youre so adamant its going to happen because some of you clearly dont have the intellect to actually look further than the soundbite bile youre being fed

•  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*

So effectively only the richer people can afford to live in places with public services the poor would have to move out to places that weren't so good.

How can landlords not pass the increased costs on in increased in rent.

What happens for valuation purposes when the site your house stands on is worth more as a vacant plot than with the tiny house on the plot

Olivers, indeed.... in our immediate area you are only allowed one house per plot which is what makes the houses (tiny or large) valuable and cannot make a small house on a big plot bigger as you cannot increase the footprint.

It would be a very unpopular new tax. All parties are looking at it and I don't think Labour is going to get in anyway but it's certanily something those of us who own a flat or house should keep a close eye on and make sure our politicans realise how unpopular it would be.

Landlords can be prevented passing on higher costs in rent rises by a socialist state capping rent rises (which lead to no properties to rent as those of us ancient enough to remember the old rent acts when people slept on parents' floors etc as landlords would not rent properties out as your tenant was there for life, could pass it on to family and paid £10 a month fixed for ever etc etc..... didn't work very well).

It would be a very unpopular new tax. All parties are looking at it and I don't think Labour is going to get in anyway but it's certanily something those of us who own a flat or house should keep a close eye on and make sure our politicans realise how unpopular it would be.

Absolutely right mary

It also makes me sad to think of lovely gardens being sold off to avoid the tax and horrible ugly cheap newbuilds being squeezed into the gaps everywhere. Not good for pollution, not good for biodiversity, not attractive to look at.

Help the housing crisis by cleaning up brown sites and building new affordable estates/towns there. Not by forcing people to sell off their land.

Diane Abbott And Andy Burnham back Land Value Tax
www.labourland.org/policy/

Sadiq Khan to consider Land Value Tax
www.costar.co.uk/en/assets/news/2017/January/Sadiq-Khan-welcomes-land-value-tax-proposals/
morningstaronline.co.uk/a-d913-Khan-backs-trial-of-land-value-tax#.WTkCbNH6uUk

Not just supported by John McDonnell then?

As mary says...i bet a lot of parties are looking into it

As mary says...i bet a lot of parties are looking into it

Two prominent Labour Shadow Ministers - John McDonnell and Diane Abbott have joined/backed a campaign for LVT though.

I dont know why there is confusion, as far as i can remember

Noone has said that no labour party members and mps like the idea (tories will be considering it too, i think you would be fairly hard of thinking not to realise that some labour will love it, some will hate it, some tory will love it, some will hate it)

No one has said it definitely wont be happening if labour get it

Its an option being considered...thats it

If they get in (which i doubt) they will consider it...they may decide to do it they may not

The only thing that pisses me off about this whole issue is the scaremongering in parts of the press.

And again not a labour supporter....i just hate it when people say 'labour are doing this....fact' and 'tory are doing this...fact'

Yesterday LVT was a figment of everyone's imagination and John McDonnell a maverick - clearly not.

I've said it before on this thread, and I'll say it again.

If Labour get in, they will impose a land tax because they cannot raise enough revenue for everything they want to do from the 5% rich people (several of which will leave the country 0.5-1% would be my guess) and corporation tax.

We will all be paying more - whether it's via higher prices, or if people are made redundant as business looks to cut costs and investment to pay for the extra costs being imposed on them (through min wage and tax rises). It's really not that difficult to see.

clavinia

Find me a post saying that it was in everyone's imagination

Until this thread i had no idea who john mcdonnell was

YANBU

There is a massive hole in their "taxing the rich" thing, and a recent Labour appearance featured a woman banging on about how privileged everyone in the south east/london is. Funnily enough the place where the tax (if it as as proposed by that Labour think tank) would potentially triple council tax for working people.

I personally think people are right to suspect that actually, ordinary people who own or live in private rented accommodation are going to be hit for a big part of that £48bn. Especially given that the same tax could actually lower your payments but they are keeping weirdly silent on that.

I think you can bet your bottom £3000 that the Labour Party would have made a big thing of telling us if it was going to go down rather than up.