BoJo’s proposed Stamp Duty reforms

by Property 118

13:24 PM, 13th August 2018
About A year ago

BoJo’s proposed Stamp Duty reforms

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BoJo’s proposed Stamp Duty reforms

In his weekly Monday Column for the Daily Telegraph, Boris Johnson, has told Theresa May slash the absurdly high Stamp Duty (SDLT) tax rates and abandon affordable housing targets.

Boris indicated he thought the housing market is the single biggest and most urgent crisis we face and would lead to an impending crisis of capitalism. The theory being if you don’t own any capital assets how can you be enthusiastic about capitalism.

Boris would like Stamp Duty cut to facilitate a more ‘mobile’ housing market that would encourage First Time Buyers.

Boris went on to say: “It is not just that things were so much easier 30 years ago when I left university and went looking for a flat. It was only 10 years ago, for heaven’s sake, that the proportion of owner occupiers among 25 to 34 year olds was still up at 64%.

“That figure has now plummeted to 39%. More than half the key generation shut out of the housing market.

“This is meant to be Britain, the great homeworking democracy, but we now have lower rates of owner occupation for the under 40s than France and Germany.

“That is a disgrace. It is of little surprise that young people may give up on capitalism if it excludes them from housing.”



Comments

user_17131

16:44 PM, 18th August 2018
About A year ago

Obfuscated Data

Chris Novice Shark Bait

17:03 PM, 18th August 2018
About A year ago

following

Mark Alexander

17:36 PM, 18th August 2018
About A year ago

I don’t really see what Burkha’s and religion have to do with property and I didn’t hear what Boris said.

user_17131

17:38 PM, 18th August 2018
About A year ago

Obfuscated Data

user_17009

19:08 PM, 18th August 2018
About A year ago

Obfuscated Data

user_17131

19:42 PM, 18th August 2018
About A year ago

Obfuscated Data

Malcolm Ratcliffe

21:43 PM, 18th August 2018
About A year ago

Reply to the comment left by Richard Adams at 14/08/2018 - 13:32
Surely if you can’t sell then you are asking too much!

Lisa S

22:24 PM, 18th August 2018
About A year ago

Reply to the comment left by Liam Strid at 18/08/2018 - 17:38
This thread is commenting on Boris Johnson’s comments because someone (I can’t remember who) mentioned ‘what if Boris Johnson became PM’....that is a whole bigger question than how will he affect the housing market. As a prospective leader of the Tory party, I feel he is not to be trusted. He is a liar, a bigot, and will say whatever he thinks the populous wants to hear. And that will not be pro landlords! And this comes from someone, me, who until the last election has always voted Tory, and is, deep inside, a true blue Tory.......but I will not vote for this lot.

Richard Adams

23:42 PM, 18th August 2018
About A year ago

Reply to the comment left by Liam Strid at 18/08/2018 - 19:42
Liam, I never, repeat never, put Churchill down. Quite the reverse. I clearly did not make it plain enough that while he was very much put down by many in the 1930's for opposing appeasement etc, he was ultimately proved right. I suggested that while many, especially in this thread, are slagging Boris off he in turn may be proved right in the long term? Merely a suggestion. If there was a Churchill around in the Tory party today we probably would not be hearing all this "I'll never vote for them again". WC was a truly great man. Having said that an ungrateful nation kicked him out office after WW2. Recall where that got us!
Also I never, repeat never, called myself a Tory although as it happens I am one.
I certainly engaged with the two ladies who seem well able to stick up for themselves and appear to be content to agree to disagree with me, so your comment about ungentlemanly behaviour is inappropriate.

Laura Delow

8:49 AM, 19th August 2018
About A year ago

Reply to the comment left by Mark Alexander at 13/08/2018 - 16:55
Surely the key to making housing available that is affordable is not to build more in the already expensive areas, but instead build outside of London/South East.
History proves people will migrate to other parts of the UK if there is opportunity for employment alongside affordable housing & a good social:community infrastructure e.g. good schooling (always ensuring of course that local residents have the ability to access affordable homes and well paid employment opportunities too)
We need more investment/incentives for businesses to move/start up elsewhere in the UK e.g. more Enterprise Zones.
This will ultimately create a more sustainable economic growth throughout the UK.
The cost to come from but not limited to; i) more foreign investment, ii) by housing those in need outside of the expensive capital (local housing authority rates [LHA] outside London are in e.g. Exeter 55 percent lower and in Hull 71 percent lower), and by iii) moving towards a fairer risk / reward benefit system that encourages / rewards people to want to stand on their own two feet rather than make a career out of living off the benefit system.
I know there's a lot more to the above but whilst focusing on this longer term goal, a quick fix can come from the PRS if incentivised instead of punished.

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