| Topic: | Re:Re:Re:Re:Re:Mansion / Property tax question for Ruth Cadbury / Guy Lambert | |
| Posted by: | Adrian Irving | |
| Date/Time: | 01/05/15 13:46:00 |
| 'Introducing a mansion tax will reduce both further, but not be as much as if the stamp duty hadn't been already raised.' We will have to wait and see about that. There is a bigger picture to all of this which I can't fully predict but as an example. Mr& Mrs doing quite well for themselves, lived in the same house for say 7 to 12 years so house price soared. Their kids being educated at their own expense, dine out once a week, two family holidays, largish mortgage etc. LONDON HOME TAX BILL lands for say £4000. ie approx £5500 before tax. Something has to go, so do they take their kids out of school, cut down holidays, stop eating out, send wife or husband back to work for a double income or what, all of which will have a knock on effect on the economy and social fabric. Interest rates rise sharply, someone losses their job or is sick, self employed, and can't work, what then? I could go on but I hope you can see my point about unintended consequences. |