Labour Manifesto – Attack on the PRS

Labour Manifesto – Attack on the PRS

13:50 PM, 21st November 2019, About 2 years ago 96

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The Labour Party have released their 2019 general election manifesto. This has been very briefly summarised with the key points of interest for Landlords and the PRS industry. Download the full manifesto here

Pretty much all previous threats to the PRS have been included along with additional regulation and taxation policies.

Private Rental Sector

Labour will take the following action to ‘protect’ private renters through:

  • Rent controls
  • Open-ended tenancies
  • Binding minimum standards
  • Capping rents with inflation
  • Give cities powers to cap rents further
  • Ban discrimination against benefits tenants
  • Scrap Right to Rent checks
  • Regulate Airbnb and short lets
  • National levy on second homes used as holiday homes

“We will give renters the security they need to make their rented housing a home, with new open-ended tenancies to stop unfair, ‘no fault’ evictions. We will make sure every property is up to scratch with new minimum standards, enforced through nationwide licensing and tougher sanctions for landlords who flout the rules. We will fund new renters’ unions in every part of the country – to allow renters to organise and defend their rights.”

“We will get rid of the discriminatory rules that require landlords to check people’s immigration status or that allow them to exclude people on housing benefit. We will give councils new powers to regulate short-term lets through companies such as Airbnb.”

“We will bring in a new national levy on second homes used as holiday homes to help deal with the homelessness crisis, so that those who have done well from the housing market pay a bit more to help those with no home.”

Taxation:

Income Tax: Additional Rate payable from £80,000 and new Super-rich Rate payable from £125,000

Corporate taxation: Gradually reverse cuts to corporation tax to reach 21% (Small Profits Rate) and 26% (main rate)

Introduce a second homes tax: This is an annual levy on second homes that are used as holiday homes equivalent to 200% of the current council tax bill for the property

Taxing income from wealth equitably and efficiently

  • Tax capital gains at income tax rates
  • Tax dividends at income tax rates

Financial Transactions Tax: Extend stamp duty reserve duty

Reverse cuts to inheritance tax and Bank Levy

Impose VAT on private school fees

Scrap Married Persons Allowance



Comments

by Laurie

13:44 PM, 23rd November 2019, About 2 years ago

Sorry Trish, they are definitely marxists in ideology even if they try to disguise it to avoid losing votes, took me 2 secs to find that info on them as you can see at the bottom, but you can check on YouTube and see for yourself. They may mean well, but they are just wrong and if they get their way, eventually everyone will be worse off. Dont think that Venezuela ended up in its current mess because their socialist agenda was executed poorly, au contraire, it was executed too well. It didnt take hugo chavez long to wreck the economy, voted in 1998, he quickly went to work redistributing wealth, spending on gigantic social welfare programs, increasing taxes, nationalising businesses, promising nirvana for the poor. Except The poor are way poorer now, the whole country has been decimated. Think it cant happen here? Although Chavez and Maduro described themselves as democratic socialists, once they got in power, they were there to stay and destroy the capitalist structure. Id just say, be careful what you wish for, i hope you can reconsider your vote for the future generations who will inevitably suffer - sure, things might be good to start with, with all the free stuff being dished out, but eventually you run out of other peoples money..

Corbyn has described Karl Marx as a "great economist"

2018, McDonnell attended the Marx 200 conference and stated that "Marxism is about the freedom of spirit, the development of life chances, the enhancement of democracy". In 2019, McDonnell during an interview stated that Marx's Kapital is “one of the important analyses of the modern capitalist system.”

by Martin

16:19 PM, 23rd November 2019, About 2 years ago

Reply to the comment left by LVW4 at 23/11/2019 - 13:35
"We send the EU £350 million per week, let's fund our NHS instead"

We all know that's not correct now. Yet people voted leave based on that!

I'm not saying don't leave, what I am saying is I'm not sure the majority want to anymore so lets find out.
Don't forget it was 52% to 48% with just over 71% turnout
So we are claiming that 37% of the electorate over 3 years ago represents what the majority of the country wants today.
I just want to be sure.

by AlanR

16:32 PM, 23rd November 2019, About 2 years ago

I voted to leave in 2016 and I stand by that decision today. The conduct of our EU "friends" during the last 3+ years together with my own research has me convinced that leaving the EU is still best for the UK. Corbyn won't deliver Brexit and, although I'm not a great fan of Boris, he still has my vote. All the people I know who voted leave are looking forward to Brexit...

by NewYorkie

16:47 PM, 23rd November 2019, About 2 years ago

Reply to the comment left by Martin at 23/11/2019 - 16:19
350 or 300 million per week, it's eye watering, and would make a massive difference if spent in the UK. On the NHS for example!

by Laurie

17:17 PM, 23rd November 2019, About 2 years ago

Reply to the comment left by Martin at 23/11/2019 - 16:19I voted to remain, 100% of my tenants were from the EU and mostly great tenants, rent paid and no damage to property. During the last 3 years, many of them have returned back to their home countries, now i only have local applicants, but when i do some reference checking, they have really bad histories, so i leave the properties empty for months rather than accept a bad tenant. However, the vote was to leave, so lets respect democracy and just get it done and get on with our lives. Another referendum is a waste of time, what happens if we get 48/52, best of 3? Not only that, that train has already left the station, the only party offering a referendum is Labour, but their offer is likely to be remain or leave on a really bad deal - ie might as well remain! In any case, whether we leave or remain in the EU will not make a huge difference to most peoples lives, BUT a marxist Labour government will make a difference like this country has never seen. I think too many people are not treating this serious enough, if the marxists manage to grab power with SNP help, etc, it will start off good with the massive spending boost, like maxing out your credit card, but then eventually will be catastrophic, higher taxes, massive social spending, 4 day week - decreased productivity, nationalisation - initially limited but for sure will be expanded, mega strikes, inflation, many more bad decisions and policies. If the nightmare happens, i’ll be bailing out as fast as i can before it comes crashing down.

by Dennis Leverett

17:44 PM, 23rd November 2019, About 2 years ago

Reply to the comment left by LVW4 at 23/11/2019 - 13:35
Spot on.

by Michael Barnes

22:41 PM, 24th November 2019, About 2 years ago

Reply to the comment left by LVW4 at 23/11/2019 - 13:35
"As far as I can see, new 'facts' have not come to light,"

Like Boris throwing Northern Ireland under the bus so that he can say he got a deal?

by Whiteskifreak Surrey

7:34 AM, 25th November 2019, About 2 years ago

I am not sure if that looming disaster was discussed here: https://www.propertytribes.com/labour-proposals-for-cgt-for-landlords-t-127643800.html
And the link to the Grey Book of Horrors is here: https://labour.org.uk/wp-content/uploads/2019/11/Funding-Real-Change-2019.pdf
Time to sell up, pack up and leave this country for good.

by B4lamb

7:57 AM, 25th November 2019, About 2 years ago

Obfuscated Data

by B4lamb

9:12 AM, 25th November 2019, About 2 years ago

Obfuscated Data

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