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...

5more what about someone with a 3 bed terrace in a gentRifled part of London worth well over a million but that they have owned all their lives and bought for peanuts in the 70s and are now living on their pension. Fair they they pay more?

How do you prevent a housing bubble in London?
People come where the jobs are. Do you want to stop them?

YABU..its the right leaning papers running scared that labour appear to be catching up in the polls. Its vaguely mentioned as a possible alternative to council tax in the manifesto but theres nothing beyond that. we don't know how it will work or anything. So yes, no need to be scared of it at all...

Alice property value is not unearned income until the property is sold. While someone is living it it it's a home!

I think the current council tax is fair.

Off to work.
This Q&A is over.

If you don't have figures, how can you know people will pay more?!?

Yes it will bring in money - from rich people with very valuable land!

If you want right wing policies where you get to keep high level of earnings and low level taxation while the most valuable are dying as a result of cuts, vote Tory.

If you think it's unfair that some people have hundreds of thousands of untaxed income in the form of land, and are open to considering different forms of taxation instead of our outdated CT system then vote Labour, Lib Dem or Green.

Depends how its implemented, surely? Could be a really good idea if done properly, could be terrible if they decide to tax everyone with a tiny garden a zillion per cent (they wont).

Maybe it would even encourage people living in houses that are much too large for them (thinking of couples whose children have flown the nest etc) to downsize to somewhere smaller before they reach the age where moving house becomes very difficult, thus freeing up large family homes for others.

Chardonay it isn't even a policy suggestion

Of course it isn't!
It's vote loser! A big one.

Right. Work.

People come where the jobs are

Maybe invest outside of London? We live in a London / South East bubble at the moment. I've no idea how it keeps going.

We could do with some jobs outside of London.

Thegirlinthefireplace the people you describe would be sitting on almost a million pounds of unearned wealth. They would do well to downsize anyway, take the cash, enjoy their retirement and pay for their care/ move into a retirement property if they need it in old age. Life isn't fair... but one or tow people rattling about in a million pound 3 bed property you can't afford to live in doesn't need to be financed by anyone else!

There is a limit to the amount of anti-London policies you can have.

Like a mansion tax, an LVT tax would stress the capital. The disposable income of Londoners, after housing costs, can be way below that of those in the same line of work who live elsewhere. So this signals the end of the idea of 'broadest shoulders bearing the most'

The millions of ordinary Londoners don't have broad shoulders.

Squishy, so you are advocating pricing people out of staying in the homes they've potentially lived in all their lives? Bet you didn't agree with that idea when it was the "bedroom tax"?

Probably a thick question but if it's on just the value of the land how would it work for a block of flats?

"There aren't enough details to be scared about it,"

That's probably the exact reason people are scared about it, a lack of figures from the Labour Party.

5more it's not being financed by anyone else. Who do you imagine is financing them living in a house that they paid for themselves?

Yes it will bring in money - from rich people with very valuable land!

So someone with a market garden business is rich? Someone with a riding stables? I heard on the radio that people like this would be clobbered.

And people like us. I live in a most, not very attractive 1980s house with a decent sized garden. South east but not a desirable place particularly. My council tax is currently £2,400, which hurts. One estimate was that it would go up threefold, so that would be over £7K. £7K out of earned income. Not doable. Our garden is long, so the only way to build on it would be to demolish our house, or to get the neighbours to agree to sell and demolish their houses. It's madness.

Meanwhile, Philip Hammond is blithely announcing that it's OK with the government that councils regularly break the law when it comes to complying with their duty to provide for disabled children, because budgets. Yes, that would be the budgets imposed on them by the government. But hey, it's only disabled children, not pieces of garden, so who cares?

Probably a thick question but if it's on just the value of the land how would it work for a block of flats?

No idea? Cost spread amongst all the flats?

Look, I'm not against policies that mean the rich pay more, but we need to make sure we are correctly identifying who the rick are and given the inflated stat of the property market in the south east, proerpty value is not really an accurate way to do that.

That's probably the exact reason people are scared about it, a lack of figures from the Labour Party.

They're giving a hell of a lot more costing information than the Conservatives are. And the Conservatives are also keeping incredibly quiet about the way the National Debt has gone up during their stewardship.

How did you get to an estimate of £7000?

Thegirl I am saying that housing needs change over our lifetimes - what is so controversial about that?
Very few people live in the same home "all their lives" (from birth to death?) nowadays. I would rather downsize when I was in my 60s than wait until I was forced to for physical reasons when I was in my 80s.
It is stupid to suggest that the ideal home for a young family of 5 will still be ideal when the parents are in their 80s and struggling with the stairs. I would also like to see more homes being built that are suitable for people to downsize to.

Is it "fair" that people live on "hundreds of thousands of untaxed land" - and yet, Alice, you seem to rub your hands in glee at the prospect of losing your own council tax liability. not sure your glass house can take your stones of greed, tbf!