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Post by aspieandy on Jul 17, 2024 11:03:14 GMT
well, as above; you could do worse than reduce the moral stain on this country of unearned, undeserved, untaxed, aspiration destroying property wealth by revaluing and reforming council tax.
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Post by Jan on Jul 17, 2024 17:06:43 GMT
King's speech today announcing the new government's objectives. When talking to Labour, all through the campaign media wanted to focus on taxes, which was fair enough. I didn't understrand why they failed to see the hugest of huge elephants in that room, at least from what I saw and read. Maybe middle-class media liberals are a little uncomfortable talking about all their free money in public.
Must be quite nice enjoying the benefits of Tory policies while incurring none of the guilt of voting for them.
The most legit target is surely the magic money tree (the unstated key Conservative policy of guaranteed property inflation); unearned, undeserved, untaxed wealth (until downsizing, or death) that disenfranchises and makes a mockery of aspiration for young people who don't have access to family property wealth. So the hugest of elephants for me is Council Tax, spcifically revaluation and reform - intentionally, something not done since 1991. Imo, this route has several significant benefits, and the first year of the first term is the time to get it out of the way. Fingers crossed from me. In this undated doc, the IFS said its piece - worth a read, imo >>> ifs.org.uk/sites/default/files/output_url_files/Summary-Revaluation-and-reform-bringing-council-tax-in-England-into-the-21st-century.pdfBut revaluing properties on a 2024 basis instead of 1991 wouldn’t raise any extra tax at all because the council tax bands themselves would also have to be updated to a 2024 basis. All it would do, per the paper you linked, would be to make the distribution of council tax somewhat “fairer”.
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Post by aspieandy on Jul 17, 2024 21:21:17 GMT
I'd likely agree with you if it was just revaluation but there would also have to be reform. So, possibly increasing the number of bands, tinkrering with the ratios, what to do about the rise of buy to lets, second and further homes, airbnbs, overseas investors buying up half a new build block at a time and leaving it empty .. guaranteed property inflation has created plenty of new dynamics since the early 90s.
The core though, imo, is bands and ratios.
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