Right, so with a growing number of families unable to afford to buy a home of their own, and forced to rely on the insecurity of private rentals, Labour decide that the best thing to do is ensure that landlords, second home owners and private investors pay substantially less tax on their capital gains.
from the times
"Currently, higher rate taxpayers who sell a property that is not their main residence, or shares in companies listed on the main stock market - and make a profit of more than £9,200 - pay as much as 40 per cent tax on their profits if they sell within three years. After ten years, the effective rate of tax falls to 24 per cent. They will now just pay the 18 per cent flat rate."
"Small businesses will be the losers under the new regime. Alex Henderson, a partner at Pricewaterhouse-Coopers said: ?An entrepreneur who expected to pay 10 per cent on the business they?ve built up will now pay 18 per cent. It?s unhelpful that it?s such a broad brush measure. It could have been more targeted [at private equity].?"
I suppose a lot of those politicians have multiple properties. Clearly they don't give a toss about the small businesses that really contribute to our economy; rather than sucking money from the least well off as property speculators tend to do.