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

@MrsPapillonLondon doesn’t take up 25% of UK land mass - so pays a disproportionate amount of your benefits

What benefits?

I think you need to look up council tax rates. We live in a nice area of a very deprived NE town. Comparable bands are hugely lower in many southern areas. So unfair. Yes houses are cheaper but wages are much lower.

Band F: £120,001 - £160,000 | £3,680.51 here.

Band f in Westminster
£1,513.56

How many years of an average annual salary it takes to buy an average property in your area?

Next door just sold for 250000 so about 6. But wages up here are much lower in general. You could buy a small house in a worse area for 100000.

However the electorate in the south east largely vote for austerity, poor public services and council tax…

Next door just sold for 250000 so about 6 - so your average salary in the area is just over 40k? means you can buy a small house in a worse area for 2.5 annual salary? Is this right?

The cheapest one bed flat (and let's don't forget that flats attract service charges, 4k pa at least) is 400k in Westminster. Average salary is 50k, so it's 8 years to buy one of the cheapest one beds, not even a small house. I appreciate that absolute numbers might feel unfair to you, but look at the total picture.

You draw conclusions about policy based on a very few exclusive cases, whilst this will affect millions of people.

London/SE pays for you - repeating myself here, but we subsidise the rest of the country as we are the only ones who generate more than we spend. You’re welcome. So what’s with the ‘London should pay (even) more because they have better museum’ shit ?

I agree, properties over 3 million should pay proportionately which they currently do not. Let's tax the rich . . .

I do pay for myself, by virtue of being a net contributor.

You don’t pay for me whatsoever.

As an aside, unless you like traffic and crowds, I see absolutely no reason to even go to London to be honest.

Ofcourse, let’s make everyone pay land tax to continue the rise in benefits!!. Clearly only Burnam fans posting tonight. Let’s see how happy you all are in 12 months

Would people on benefits be immune to this land tax?

What are Andy Burnham's potential policies? - BBC News

One of his policies is to replace IHT with national care levy to fund social care. Can't find the link now, but he was talking about 10% levy on all estates (which now include unused pension pots) increasing progressively. So I won't be surprised if he includes all estates, even those under 500k into renamed IHT. This won't be taxing rich exactly, especially in context of house prices we discussed here

Of course they mostly would - they mostly don't own properties and their rents are subsidised. Ironically LVT will lead to further increases of rental prices, so taxpayer will have to cover this as well for benefits claimants

He 'could'. 'might', 'potentially'

Nothing official has been announced.

I mean, most pay council tax, so if this is replacing it then I am confused as to how that would work.

Exactly this. Houses are to be lived in. They are not assets to make money from. That is what has fuxked our younger generations.

Absolutely disagree.

I pay £2000 per year more in Wales for similar band in London.

As an aside, unless you like traffic and crowds, I see absolutely no reason to even go to London to be honest.

This sums it up about mindset. No great museums, theaters, art events, sightseeing, great food, ability to travel the world easily, no beautiful parks, ability to meet people from all parts of the world, nothing at all, just traffic and crowds. Let's live that small life in a nicer area of a shithole and salivate about taxing Londoners more.

And living surrounded by culture and beautiful parks has a price tag. You can’t have your cake and eat it too.

I'm not asking anyone to pay anything. I'm just pointing out that CT is Westminster is a lot less than in Blackpool.

Yes but the people (majority ) buying the cheap house will be on near nmw. Why should they pay a higher rate of tax than anyone owning a 400000 property?

Well yes.

But other places have airports, parks and entertainment. Most of the things you’ve listed really. Just with less people and less hassle.

Once you’ve seen London’s, you have sort of seen it, unless there’s a new Big Ben, or they’ve changed Buckingham Palace?

Definitely not convinced it’s worth the price tag of living there.

Who’s paying £1200 in the south? I pay £4k per year. I work in the public sector and have had an 11% pay cut in real terms over last 8 years. Mortgage has gone through the roof.

I appreciate im not on the breadline like many but the idea that everyone in the south can subsidise those in the north really annoys me. Those in the north are not generally subject to ridiculously high housing costs like here. I really don’t think the economy is working for anyone…