Anyone else in the South East worried about Andy Burnham bringing in a land tax?

[Beachbooks]

With it looking likely that Andy Burnhan will be the next PM, I was interested to see if anyone else in London / the south east were worried about potential tax raises specifically around the land tax rather than stamp duty ?

A lot of my friends who live locally are worrying that he will make the land tax for the South East so high in proportion to other areas of the UK that it will be financially very difficult to afford but then also extremely difficult to sell!!

BTW we have very standard house and garden but we live in an expensive area

oh this again. You found a handful of expensive houses and built your theory on this.

I showed you links earlier that someone living in one bed shitty 390sqft flat in Islington, which is worth 400k, pays only £200 less than someone living in 3 bed huge detached house in Shires worth 325k

Posting again
Band C
Hare Close, Buckingham MK18, 3 bed link detached house for sale, £325,000 - Zoopla
Band C
Wakeham Street, London N1, 1 bed flat for sale, £400,000 - Zoopla

You want those handful of mansion owners to pay more but you'll instead uplift hundreds of thousands of people who live in London

If you hit people in an average London terrace with a much higher tax it won’t be doable. So many just don’t have the financial room for it.

But she paid a huge stamp duty?
Critically, Wandsworth council is self funding, they don't take any money from central budget, so if they are happy to manage, why not? why should they pay for the rest of the country? there is Income Tax, VAT, NI, CGT, gazillion of other taxes redistributed at a central level, why do you need to take council tax as well?

Someone has come on to admit the poll tax is a fairer system
Well done you

Prepare yourself ❤️

It's interesting how many times HoL saved us from utter stupidity of elected MPs.

But of course Labour want to dismantle this as well, why allow some sanity to control their madness

Yes it’s to pay for services in the borough, why would you want your own mother to pay more tax?

Yes, why should home owners always be treated like cash cows

Hence the necessity for a long transition, both practically and politically.

My mum doesn't leave in Wandsworth. And no, I don't think Londoners should pay even more tax to fund the rest of the country.

This thread is not about council tax, it's about possible replacement of council tax with 0.48% annual tax on value of property replacing council tax.

Another poster shared the link to the org making this suggestion and it openly says that this is to take from London and redistribute to the rest of the country.

I think this is horrible suggestion and very stupid of Labour. London is still one of the few areas left where Labour are doing relatively well. This will be the end of it.

Hi I meant the original quoter, I know it wasn’t you 😀

I agree with you

No, it's not needed at all.

We're taxed to the limit on all income and savings, even IMF concluded that there is nothing more to take. Labour are coming after our homes now. This is all about taxing more or less the same group to pay benefits to others. They need to fundamentally rethink economy, reduce taxes, make it make sense to work and do well, encourage investments and push people into work

@nearlylovemyusernamewe have an ageing population which costs. There isn’t really anywhere left to tap up now. except housing

The Conservatives tried that for 14 years. Look how well it worked.

I do agree we need economic growth, of course.

Exactly 👏👏👏

@nearlylovemyusernamewhat are you talking about?! A huge stamp duty! My parents bought it in the 80s

@suburburbanbecause she has objectively taken out a lot more vs what she has paid into the system. Spread that across millions and it’s one reason we are struggling now.

I understand but then others who have paid in will have died prematurely

so what are you going to do when the housing is taxed beyond breaking point? Londoners selling at a loss and moving to Blackpool?

It's fundamental mindset - care costs are about 20-25bn pa now, working age welfare is 150bn, debt interest is 111bn pa. We cannot continue slicing shrinking pie, we need to grow this pie.

Do you pay attention to the news and how a lot of British businesses being bought by foreign investors? how hard government try to make people invest in British businesses, e.g forcing pension funds? do you wonder why British don't invest? and those who can move abroad? Dyson would be a good example. Why don't you want to try to fix this issue? Investments will create growth and jobs, pie will grow, then you can cut it better. But you need to give pie growers a bigger slice, otherwise they won't bother

Yes well said

It’ll make London even more inaccessible. Surely some have dc who would like to own a home and work here.

Not just batter them with ever higher taxes so it’s out for them.

But statistically more haven’t @suburburbanwhich is my point.

@nearlylovemyusernameI have a home
in London….

Theres nothing I can do to fix the mess we are in but I am flattered you think I am capable!

We absolutely need investment, I haven’t said otherwise. But we cannot talk about the economy without looking at welfare costs & that means looking at what is spent on pensioners. Why do you think growth is so easy to achieve and yet it’s eluded us since the crash regardless of who was in power?

@nearlylovemyusernameoh & my parents would have paid around 1k stamp duty. To buy that house today would be 115k plus in stamp duty…

Burnhams
touted suggestions are looking at welfare costs for some people
and
Some of those expenditures re the elderly can be tackled
ie Council funded Care costs can be dealt with by the 10% IHT
leaving a large chunk of council money available for local councils

@BrownTroutBluesAgainI think the 10% thing makes sense.