Mansion Tax

roydo · September 25, 2014

Been looking at the proposed idea by Milliband.

On houses over £2m, £12000 PER YEAR....

£1000 pm

If you are skint, the tax is paid when the place is sold after you die.

Proceeds to the NHS. (Less than 1% of its budget)

Yay or Nay?

(Politics threads have been ace recently on GOT, hence them staying open, so thanks by the way)

malfosse · September 25, 2014

When they introduce a hovel tax is the time I'll worry.

edge · September 25, 2014

no , from me just because someone lives in a nice house dosnt mean they get anything extra out of the system, more police outside ect.
Headline grabbing that will not affect that many, or bring in much, why not bring a tax in for overseas property investors, more than likely bring in more easy to collect and give the locals a chance to get a home , lots of asian counties do it why not us.

Toffeelover · September 25, 2014

Absolute rubbish, need an army of civil servants to d/w it. Talking of self valuation and to reclaim a discount or 0 rate you will have to declare income. It will be tax on London and the south east making many leave the country and not paying. A disaster of an idea.

roydo · September 25, 2014

edge said:
no , from me just because someone lives in a nice house dosnt mean they get anything extra out of the system, more police outside ect.
Headline grabbing that will not affect that many, or bring in much, why not bring a tax in for overseas property investors, more than likely bring in more easy to collect and give the locals a chance to get a home , lots of asian counties do it why not us.

Think Osborne bought something in along those lines. A higher stamp duty or something.

toffee matt · September 25, 2014

It's a vote winning tactic basically.

The money raised would be minimal I'd imagine

chewee · September 25, 2014

Agree alot of intelligent debate from all viewpoints on here of late!. I respect the opinions of anyone who engages in serious debate regardless of their ideology.

It's basically the opposite of the bedroom tax, a form of class warfare against the rich. Without doubt it draws a clear line in the sand between Lab and Cons. Tory MPs outraged by this policy yet happy to back the bedroom tax speaks volumes in my eyes.

Very clever by Labour, the £2 million + house price mark has been carefully chosen, it's just above the 'Middle England' bracket of prices (Therefore wont have any effect on them).

An awful lot has been made about this being 'a tax on London' because of the amount of homes it would effect there which irks me a little. The reason why the country is failing in the first place is because of the disproportionate concentration of wealth in the south east. One big problem I think they'll face is how to impliment it, house prices fluctuate daily, even within the same street there are considerable differences. It's either line the pockets of estate agents to produce valuations or completely overhaul the council tax bracket system - either way it'll be costly

Goat · September 25, 2014

Im just gonna say it, the rich arent the issue in this countries budget.

The people we "import" from other countries are.

Bruce Wayne · September 25, 2014

No, I don't support this idea, but I do support http://www.landvaluetax.org/.

The thing is, I'd use that and abolish all other forms of tax. Labour just like to pile tax upon tax upon tax.

roydo · September 25, 2014

See where you are coming from Chewee. Interesting take on it. I happen to think the bedroom tax, or spare room subsidy, take your pick, was an ill thought out piece of policy rather than a nakedly political driven, fiscally useless bit of nonsense that a mansion tax is.

Against both as it happens. My view on welfare reform, which is needed, is that it took a generation to get into the mess it is in, and will take a generation to change it. I would draw a line in the sand. What ever benefits you currently get will be protected. But from now on, new entrants into the benefit system will have a different set of rules applied.

But thats too far sighted for a politician, who has to play to a particular gallery.

Allezfan · September 25, 2014

No point whatsoever in taxing the rich. They don't even pay the current taxes, let alone new ones.

roydo · September 25, 2014

Allezfan said:
No point whatsoever in taxing the rich. They don't even pay the current taxes, let alone new ones.

30% of income tax paid by the top 1% or earners would suggest not mate.

chewee · September 25, 2014

MoutsGoat said:
Im just gonna say it, the rich arent the issue in this countries budget.

The people we "import" from other countries are.

Immigration will also be a big battle ground next year, there has to be tougher controls I agree. Important thing is not to generalise, positive immigration props up key services in which we arent producing enough workers to be self sufficient (Eg doctors and nurses)