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

sheridan whiteside

14:36 PM, 14th August 2018
About A year ago

Reply to the comment left by Richard Adams at 14/08/2018 - 13:32
Exactly,any discussion on housing soon lapses into talk of London,london,london. In my part of Manchester prices have barely moved in 10 years and 2 bed terraces can still be got for £60,000. and in places like Blackburn and Burnley half that.I think many potential first time buyers prefer to rent somewhere nice,than buy something that isn't and needs a bit of work.

user_17131

16:37 PM, 14th August 2018
About A year ago

Obfuscated Data

david porter

17:25 PM, 14th August 2018
About A year ago

Boris is past his sell-buy date.

Mark Alexander

17:27 PM, 14th August 2018
About A year ago

Reply to the comment left by david porter at 14/08/2018 - 17:25
Certainly past his “best before date”.

user_17131

17:30 PM, 14th August 2018
About A year ago

Obfuscated Data

Mark Alexander

17:47 PM, 14th August 2018
About A year ago

Reply to the comment left by Liam Strid at 14/08/2018 - 17:30
I wouldn’t go that far, he’s actually an extremely intelligent guy, but he destroyed his own credibility by his own actions post Brexit and has continued to do so ever since. I think his “best before date” was the day of the Brexit vote. Prior to that, I honestly though he would be the next PM. He’s lost the plot since then in my humble opinion.

I think he was a far better Mayor of London than the current one though.

user_17131

18:14 PM, 14th August 2018
About A year ago

Obfuscated Data

user_17009

19:12 PM, 14th August 2018
About A year ago

Obfuscated Data

Mark Alexander

19:19 PM, 14th August 2018
About A year ago

Reply to the comment left by Will stillman at 14/08/2018 - 19:12
I agree

Luke P

20:11 PM, 14th August 2018
About A year ago

Honestly, I’d rather a bumbling idiot than a dangerous idiot. Quite frankly, making decisions based on the roll of a dice wouldn’t have produced any worse an outcome than what we currently have.

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