] On Behalf
Of Jock Coats
Sent: Saturday, February 16, 2013 6:41 AM
Subject: Re: [LandCafe] Labour goes for a Mansion Tax
I appear to be alone amongst my Lib Dem contacts in believing the Mansion
Tax to be worse than useless in heralding a proper LVT.
It will be seen as a tax on aspiration. The benefits of LVT are not
primarily in revenue raising, which the Mansion Tax unashamedly is, but in
the beneficial effects of a low rent economy. THis will do nothing to
demonstrate those benefits and everything to make people think that any
further proposal for LVT is simply about raising more money.
Far better, since Vince is in charge of the relevant department, and it is
party manifesto policy, and the existing tax it would replace badly needs
reforming, would be to replace National Non-Domestic Rate with Site Value
And doubly good - far better than giving Mary Portas thousands of pounds for
her committees to dress up as cartoon characters to revive the high street.
On 16 Feb 2013, at 14:17, "John" <burns-john@...> wrote:
> The Labour party have come out in support of a mansion tax if they will
the next election in 2 years time. It proposes taxing properties worth £2m a
yearly tax of around 1%. The policy has been supported by the LibDems for
years. Not a LVT, but a big stepping stone in the right direction.
> Unfortunately it does not target land 100%. The tax takes into account
land and the building. You may find the land is worth more than the building
in London mansions worth over £2m. The LibDems also have mansion tax which
the Tories in the coalition would not entertain. Vince Cable the LibDems top
economics man viewed it as a way of getting a land tax in, replacing Council
Tax, the current property tax.
> So a £2m house will pay £20,000 per ann. Nice. I doubt it will stop the
mega-rich Russians and Greeks buying up London property. The lesser rich
will shy away from a £20,000 per ann. tax. So something may happen.
> Ed Milliband, the Labour leader, is LVT leaning, not fully converted I
Warden's Flat 1e, J Block Morrell Hall, OXFORD, OX3 0FF
m: 07769 695767 skype:jock.coats?call
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