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>I'd be tackling housing prices. The government has absolutely no desire to do that. Their voter base is predominantly home owners who think of their house as
by M2Ys4U 5y ago
>I'd be tackling housing prices.
The government has absolutely no desire to do that. Their voter base is predominantly home owners who think of their house as an asset that should only go up in value.
- prawn 5y agoYes, I think the best opportunities are incremental changes like phasing out negative gearing, tweaking SMSF rules and so on.
- benbojangles 5y agoI agree. Also, High streets don't have to 'die' due to excessive rent either, the government could hike taxes on vacant stores 1000% then make possession orders on unpaid premises after 18 months. Then the gov can nationalise shop rents according to reasonable incomes.
- M2Ys4U 5y agoI'd advocate for scrapping council tax and business rates, replacing them with a land value tax payable by the freeholder rather than occupant. I just don't see the current Tory party touching it with a barge pole.
- aurbano 5y agoOnly issue is that UK politics are dominated by rich landowners...
- lovich 5y agoHow does that tax not just passed onto the occupant? When I was renting I was basically paying all my landlords costs for the property + profit on top. If there’s not enough units available or if the landlord class acts as a cartel in pricing then every cost is going to the occupant
- xyzzyz 5y agoThe tax incidence depends on the elasticities of demand and supply. Since the supply of land is, for practical purposes, perfectly inelastic, land value tax cannot be effectively passed onto the tenant. See https://en.m.wikipedia.org/wiki/Land_value_tax#Tax_incidence https://en.m.wikipedia.org/wiki/Land_value_tax#Tax_incidence
- GordonS 5y agoI'd love for council tax to be scrapped, but I'd prefer it to be replaced by a risen in income tax, with money dished out by Central government to local councils.
- scatters 5y ago> hike taxes on vacant stores 1000% That's how you get high streets lined with charity shops. Not that I have anything against charity shops, but is that really what you want to see?
- deleted 5y ago[deleted]
- onlyrealcuzzo 5y agoWhen the average person makes more money sitting in their house than they do working - it's a gift-horse that is hard to look in the mouth...