Land for the Many – Not for Landlords

Land for the Many – Not for Landlords

8:13 AM, 4th June 2019, About 2 years ago 84

Text Size

The Labour Party have commissioned an ‘independent’ report titled “Land for the Many” that proposes changes in the way land in the UK is used and governed.

Key proposal headlines include:

Tenancies should be open-ended, and landlords should lose their power to evict a tenant who has not broken the terms of the tenancy agreement for the first three years of the tenancy agreement, and should have to provide grounds for eviction after that point.

Cap on annual permissible rent increases, at no more than the rate of wage inflation or consumer price inflation (whichever is lower)

Replace the council tax with a progressive property tax. This should be payable by owners, not tenants.

Stamp Duty Land Tax should be phased out for those buying homes to live in themselves, and capital gains tax for second homes and investment properties should be increased

Buy to Let mortgages should be more firmly regulated and restricted.

Discourage land and housing from being treated as financial assets by encouraging banks to redirect lending into productive sectors, and encourage a more efficient use of the existing housing stock.

The guiding principle of the report:

“The pursuit of luxury has been a common theme among thinkers on both right and left. But it is evident that there is neither the physical nor the ecological space for everyone to enjoy private luxury. If we all sought to own our own tennis courts, swimming pools, playbarns and art collections, Newcastle would need to expand to the size of London, and London would cover much of England.

But there is enough physical and ecological space for everyone to enjoy public luxury. We have room, even on these crowded islands, for magnificent parks, playing fields, public swimming pools, urban nature reserves and allotments sufficient to meet the needs of all. The expansion of public wealth in land creates more space for everyone, while the expansion of private wealth in land reduces the space available for others, at the cost of most people’s quality of life. The guiding principle of this report is private sufficiency and public luxury.”

Click Here to download the full report.

James Brokenshire, Housing Secretary, said: “These proposals are extraordinary and deeply damaging in equal measure. Labour will stop at nothing to hammer families with more tax and make home ownership a pipe dream for future generations.

“Plans to seize land into public ownership also show Labour’s true colours of more and more state control. This tax bombshell for families would mean family homes with gardens paying far more and higher taxes on pensioners by abolishing the single person discount.”

Labour’s spokesman for the Cabinet Office, said: “For too long, people across the country have had little or no say over the decisions that affect their communities and the places in which they live.  So much of this can be traced back to the broken system of land ownership. Concentration of land in the hands of a few has led to unwanted developments, unaffordable house prices, financial crises and environmental degradation.

“Labour is committed to tackling these head on and delivering a fundamental shift in wealth and power from the few to the many.”



Comments

by robert reinhart

18:03 PM, 4th June 2019, About 2 years ago

Reply to the comment left by Dylan Morris at 04/06/2019 - 11:05
Don't worry - If they gain power that will come next!!

by Dylan Morris

18:06 PM, 4th June 2019, About 2 years ago

Reply to the comment left by Jo Taylor at 04/06/2019 - 16:56
I wouldn’t dismiss the idea of Labour getting elected. The Law of Unintended Consequences - the Brexit Party could very well end up splitting the Tory vote and letting Corbyn in through the back door !!

by Chris Clare

18:55 PM, 4th June 2019, About 2 years ago

Reply to the comment left by Dylan Morris at 04/06/2019 - 18:06Absolutely correct Dylan my wife said Labour wouldn’t win and I made the very same point the Brexit part would take Tory votes thus allowing Labour to steal a win that way. This what scares us the most. I am seriously thinking about pulling out altogether and investing overseas and keeping my hard earned money well away from this moron.

by juliet bonnet

21:07 PM, 4th June 2019, About 2 years ago

Reply to the comment left by Jo Taylor at 04/06/2019 - 16:56
Jo, when I read the 'manifesto' I thought, oh hell, this is massively going to appeal to all those hordes of young people and those on benefits, who he has been courting....and they will all be voting for him in their droves!

by Dylan Morris

21:18 PM, 4th June 2019, About 2 years ago

I reckon a general election won’t happen for another 3 years despite all the hype in the media. Just can’t see 2/3 of MP’s voting for it which is the requirement under the Fixed Term Parliament act. Few Tories would fancy it and the new Tory leader is not going to be too keen either, given what happened to May last time and now there is Farage snapping at their heels. So we are likely to have 3 years before Corbyn could get into No. 10 regardless what happens with Brexit. (I predict we’ll still be in the EU in 3 years time as well). So perhaps we should all grab a beer or scotch and chill out for now.

by Larry Sweeney

21:42 PM, 4th June 2019, About 2 years ago

Comrade Corbyn will impose a massive debt burden on our children. Those who do not remember communism, the winter of discontent, the IMF bailout of the Uk in 1976 really believe that this idiot has come up with some new brilliant economic theory. Corbyn ,Mcdonnell and his momentum thugs who adore IRA/Hamas/Hezbollah terrorists would destroy the Uk. We would be the laughing stock of the world
Look at Comrade Corbyn. He is a complete idiot. Pres Maduro of Venezuela would be embarassed to be associated with this asshole.

by Whiteskifreak Surrey

21:49 PM, 4th June 2019, About 2 years ago

Reply to the comment left by Dylan Morris at 04/06/2019 - 21:18
If only... a tiny portfolio of 5 properties is all what we have for retirement, we are quite a lot of 40 years short for full state pension (just not enough years here). If we are to lose everything becaise of communism we escaped from... unbelievable what is happening here.

by Luke P

22:12 PM, 4th June 2019, About 2 years ago

Reply to the comment left by Dylan Morris at 04/06/2019 - 21:18
Re Brexit, what do you think will happen come 31st October? Surely any new Tory leader/PM would know they’re finished if they don’t deliver this time…especially as Leavers have been patient enough giving Theresa the luxury (and vanity) of attempting a path other than actually simply leaving.

by Terry Fitzpatrick

22:18 PM, 4th June 2019, About 2 years ago

Reply to the comment left by Luke P at 04/06/2019 - 22:12
Neither Labour nor Tories want a general election because neither can be sure they would win it.

by Gromit

23:02 PM, 4th June 2019, About 2 years ago

Reply to the comment left by Luke P at 04/06/2019 - 22:12
The majority of MPs, of any persuasion, who have actively tried to stop Brexit will out on their ears if there's an election. So these turkeys will not be voting for Christmas any sooner than they have to.


Leave Comments

Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.

Forgotten your password?

BECOME A MEMBER