Government theft of another’s possessions is plain wrong

Government theft of another’s possessions is plain wrong

13:32 PM, 11th September 2019, About 3 years ago 27

Text Size

The attacks on landlords are coming thick and fast and no political  party is the landlord”s friend. However, the worst possible fate that could befall our businesses would be for us to have them stolen from us. Last week Shadow Chancellor John McDonnell proposed just this in an interview with the Financial Times. Click here

Julian Jessop, former Institute of Economic Affairs economist has now spelt out clearly what landlords amongst others would face under a Marxist Government in an excellent article for the Telegraph, Click here. As he states, a sustained attack on property rights is no way to run a prosperous economy. I would add that there is also the small matter that theft of another’s possessions is plain wrong and the Government should be protecting property rights; not ripping them up.

Landlords clearly need to wake up. Many seem to still be supporting Labour, have their heads in the sand or are in denial. I understand tribal loyalty towards Labour, having been brought up poor and having voted Labour for most of my life. But Labour is no longer what it was.

Of course, the Conservative Government has also behaved atrociously towards landlords who are its natural supporters. Their attacks have paved the way and emboldened the extreme left in this country through the confiscatory Section 24 and now the proposed introduction of indefinite tenancies which will mean property owners lose control of their own property. I have written to Tory MPs and the Housing Minister to urge them to reverse direction, but there is no sign they are listening.

This is the context in which Labour has felt able to propose the legalised theft which ‘Rent to Buy’ in the PRS would constitute.

Together with the proposed theft of 10% of large companies’ assets (the next stage will be another 10%; another stage will be the theft of smaller companies’ assets and so on), landlords should unite against these attacks.

There is no easy solution regarding which party to vote for, but it is very clear which party must be stopped if we don’t want to face mass confiscation of our businesses and property.


Neil Patterson View Profile

13:40 PM, 11th September 2019, About 3 years ago

I agree Ros,

Wealth redistribution and income equality only pulls everyone down to the lowest common denominator.

History has taught this lesson many times, but it is a seductive message to some.

Dr Rosalind Beck

16:12 PM, 11th September 2019, About 3 years ago

Reply to the comment left by Neil Patterson at 11/09/2019 - 13:40
Yes, Neil. I like this quote from Thomas Sowell:

'Socialism is a wonderful idea. It is only as a reality that it has been disastrous. Among people of every race, color, and creed, all around the world, socialism has led to hunger in countries that used to have surplus food to export.'

That is where Corbyn and McDonnell want to take us.

Simon Williams

11:07 AM, 12th September 2019, About 3 years ago

Mark Twain once wrote:

"I've had a lot of worries in my life, most of which never happened"

But then again, he wasn't a British Landlord.


14:19 PM, 12th September 2019, About 3 years ago

In the 60s and 70s my old Dad used to get very hot under the collar about Harold Wilson's Labour Party, the punitive taxation and of course the 'brain drain'.

Now, with the frightening prospect of a Corbyn/McDonnell led government, I fully understand his anger!

Kathy Evans

15:11 PM, 12th September 2019, About 3 years ago

Reply to the comment left by Neil Patterson at 11/09/2019 - 13:40
And if you forcibly give 10% of shares in large companies to employees (outside an employee share scheme), the value of those shares drops, there is a knock on effect on the stock market and those employees end up worse off. Shares in many companies just over the 250 employee mark may well be as good as worthless anyway in financial terms. Stupid idea. Why not just reduce income tax and make employees better off that way - and stop paying MPs so much as they should be doing the job out of altruism, then the govt wouldn't need so much money? Perhaps Corbyn and McDonnell should give their big houses away to large unemployed families and live in small flats - after all, their kids are grown up so they don't need the extra room or a garden

Dr Rosalind Beck

15:27 PM, 12th September 2019, About 3 years ago

I've been reading up on private property rights. Here are some points:

‘In areas where property rights don't exist, the ownership and use of resources are allocated by force, normally by the government. That means these resources are allocated by political ends rather than economic ones. Such governments determine who may interact with, can be excluded from, or may benefit from the use of the property.’

This would be like what happened to private property rights in Zimbabwe or Nazi Germany for example. Clearly, the possibilities for corruption would be immense.

‘Capitalism is built on the free exchange of goods and services between different parties, and nobody can rightfully trade property they do not own.’

Labour would ride roughshod over this and trade in landlords’ private property which does not belong to the state. It would effectively steal the landlords’ property, re-defining it as state property over which the state can make decisions.

McDonnell has said he wants to overthrow capitalism and this would be the start of it – target a group which has been vilified and scapegoated by the media and recent Governments. That would be the way in for precedent to be set. The state would essentially become a thief.

Once this process began one can only guess where it would end. In fact, it has already begun under the Conservative Government with the laws related to the serving of Section 21 and the case where a property owner cannot get his house back because a certificate was not served at the right time.

If the current Government goes ahead with the further assault on property rights with the scrapping of Section 21 it is laying the foundations for Labour's assault if they ever - perish the thought - got in - as regaining possession of their own property will become a minefield. This is why so many landlords with only one property are likely to take it off the market rather than risk losing control over it, possibly for decades or even forever.

The Conservatives have also been attacking private property rights through Section 24 which is a confiscatory tax - some landlords who have to pay tax on a loss may have to raid any savings and keep selling to pay the tax bill until they have nothing left. The state will have effectively stolen their property from them.

Appalled Landlord

15:47 PM, 12th September 2019, About 3 years ago

Reply to the comment left by Kathy Evans at 12/09/2019 - 15:11
A “spokesman” described Liar McDonnell’s second home as a hut. It’s much bigger than most huts, as you can see, and is valued at £170,000:

The outstanding feature seems to be the stench pipe.

Kathy Evans

17:21 PM, 12th September 2019, About 3 years ago

Reply to the comment left by Appalled Landlord at 12/09/2019 - 15:47
Maybe one of his appalled lefty supporters will burn it down or squat it to show him the error of his ways - no, wait, they won't find out as they don't read the Daily Mail. That would be a decent home for someone. Just proves that MPs earn too much - should be on the average wage of their constituents, or better still, the average wage in the entire UK. If McDonnell wants to overthrow capitalism , I'll have his "hut" and one of his boats, and give it to my niece who hasn't got one. He doesn't need two houses or more than one boat

Whiteskifreak Surrey

17:22 PM, 12th September 2019, About 3 years ago

Reply to the comment left by Kathy Evans at 12/09/2019 - 17:21
Does anyone know if Commie Corbynov has a second property?

Kathy Evans

17:41 PM, 12th September 2019, About 3 years ago

Reply to the comment left by Whiteskifreak Surrey at 12/09/2019 - 17:22
They work for you only gives his Islington house, but apparently he is worth about 3 million and has always taken his salary increases, He's been looking really ill recently so perhaps he'll just take the hint and pop his clogs.

1 2 3

Leave Comments

In order to post comments you will need to Sign In or Sign Up for a FREE Membership


Don't have an account? Sign Up

Landlord Tax Planning Book Now