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Re: [LandCafe] Re: Labour goes for a Mansion Tax

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  • Jock Coats
    ... It is. Worse than useless I mean. -- Jock Coats Warden s Flat 1e, J Block Morrell Hall, OXFORD, OX3 0FF m: 07769 695767 skype:jock.coats?call
    Message 1 of 5 , Feb 16, 2013
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      On 16 Feb 2013, at 17:42, "roy_langston" <roy_langston@...> wrote:

      > --- In LandCafe@yahoogroups.com, "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%.
      >
      > All properties, or only residences ("mansions")? If it doesn't tax vacant land, it's worse than useless.

      It is. Worse than useless I mean.

      --
      Jock Coats
      Warden's Flat 1e, J Block Morrell Hall, OXFORD, OX3 0FF
      m: 07769 695767 skype:jock.coats?call
      jock.coats@... http://jockcoats.me
    • Harry Pollard
      Well said! Harry ... From: LandCafe@yahoogroups.com [mailto:LandCafe@yahoogroups.com] On Behalf Of Jock Coats Sent: Saturday, February 16, 2013 6:41 AM To:
      Message 2 of 5 , Feb 16, 2013
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        Well said!

        Harry

        -----Original Message-----
        From: LandCafe@yahoogroups.com [mailto:LandCafe@yahoogroups.com] On Behalf
        Of Jock Coats
        Sent: Saturday, February 16, 2013 6:41 AM
        To: LandCafe@yahoogroups.com
        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
        Rating.

        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
        assume.
        >
        >

        --
        Jock Coats
        Warden's Flat 1e, J Block Morrell Hall, OXFORD, OX3 0FF
        m: 07769 695767 skype:jock.coats?call
        jock.coats@... http://jockcoats.me









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