BoJo’s proposed Stamp Duty reforms

BoJo’s proposed Stamp Duty reforms

13:24 PM, 13th August 2018, About 3 years ago 112

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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

by Luke P

16:02 PM, 15th August 2018, About 3 years ago

Reply to the comment left by Liam Strid at 15/08/2018 - 15:37
No vote is wasted. What you most certainly should not do is only vote for those who you think might win.

by user_17131

16:08 PM, 15th August 2018, About 3 years ago

Obfuscated Data

by user_17009

18:07 PM, 15th August 2018, About 3 years ago

Obfuscated Data

by david porter

19:32 PM, 15th August 2018, About 3 years ago

Reply to the comment left by Luke P at 14/08/2018 - 20:11
Unfortunatly we are where we are. Our position is far from ideal.
Our only hope is a hard Brexit, and call Barniers bluff.

by user_17131

19:46 PM, 15th August 2018, About 3 years ago

Obfuscated Data

by user_17009

21:59 PM, 15th August 2018, About 3 years ago

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by Whiteskifreak Surrey

22:31 PM, 15th August 2018, About 3 years ago

Reply to the comment left by Will stillman at 15/08/2018 - 21:59This Brexshit mess is going to cost us, LLs, dearly, IMHO. EU immigration, generally good and timely paying tenants, is already drying out, mainly due to crappy pound. B is supposed to limit the immigration on a whole (personally I do not believe it will limit non-EU immigration anyway), so less people seeking acommodation. Lots of tradesmen (plumbers, builders, handy men etc) were from Central and Eastern Europe and now they are going to Germany/France/Austira for work and better currency. Consequently - a lot smaller pool of prospective tenants. Probably much higher unemployment. Not to mention companies already relocating to mainland EU (I see it every week). There is a possibilty we will again be made a cash cow, as the tax intake will start to diminish. Not a pretty picture for PRS, is it?

by user_17009

22:37 PM, 15th August 2018, About 3 years ago

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by Monty Bodkin

22:44 PM, 15th August 2018, About 3 years ago

Let's not derail the thread into being about Brexit.
Lots of other places to discuss that.

by user_17009

22:55 PM, 15th August 2018, About 3 years ago

Obfuscated Data

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