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

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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.”


by KD South East

11:29 AM, 7th June 2019, About 2 years ago

Reply to the comment left by NW Landlord at 06/06/2019 - 15:33
The 3 year tenancy will be similar to a 6 month AST, its just a longer term. If the tenant stops paying then it would be a fault eviction. Labour haven't said anything about getting rid of section 21. Landlords will still be able to sell in certain circumstances (death, moving back in) I would imagine. This is just a paper not actual policy. Putting council tax back on the building will be like Building rates in the 1980's before the dreaded Poll Tax/ now Council Tax.
The land reforms are of interest and could sort out the land banking and major issues in London and most expensive areas, if they are carried out correctly.

by terry sullivan

12:07 PM, 7th June 2019, About 2 years ago

Reply to the comment left by Gromit at 04/06/2019 - 11:34
increase all rents now

by Chris Clare

12:08 PM, 7th June 2019, About 2 years ago

Reply to the comment left by terry sullivan at 07/06/2019 - 12:07Oh I am! which is a shame as some we have not changed for over 10 years. Some of our tenants have been with us a long time. Once again this is the sad world of unintended consequences.

by terry sullivan

12:08 PM, 7th June 2019, About 2 years ago

Reply to the comment left by KD South East at 07/06/2019 - 11:29
land banking is necessary to running a building company

planning is the problem--privatize it

by terry sullivan

12:11 PM, 7th June 2019, About 2 years ago

Reply to the comment left by Larry Sweeney at 04/06/2019 - 21:42
UK has trillions in debt-govt=--and deficit is not gone

by terry sullivan

12:12 PM, 7th June 2019, About 2 years ago

Reply to the comment left by Whiteskifreak Surrey at 04/06/2019 - 12:09
vote brexit

by AJ

14:13 PM, 7th June 2019, About 2 years ago

Reply to the comment left by terry sullivan at 07/06/2019 - 12:12
what worries me with that, as the by-election just demonstrated, it waters down the Tory vote and lets labour in through the back door.

by Richard Adams

14:32 PM, 7th June 2019, About 2 years ago

Don't be worried on that score AJ. Brexit will have happened almost certainly by time of next GE so Brexit Party having successfully administered recent bloody nose in EU, Local & Peterborough elections will fade from the scene. With a half decent new Conservative PM, who properly takes on Corbyn and smashes him to pieces meanwhile, which will be a cinch for the right person, the outlook come GE time will be rosier. Never forget Rudyard Kipling's wise words."In this life I have feared many things most of which never happened".

by Anne Brown

16:47 PM, 7th June 2019, About 2 years ago

Reply to the comment left by Rbinscotland at 04/06/2019 - 11:28
Not paying your rent breaks your tenancy agreement - so yep, you got it wrong!

by SuperHarrygeorge

17:41 PM, 7th June 2019, About 2 years ago

Reply to the comment left by Anne Brown at 07/06/2019 - 16:47
Not paying rent may break a tenancy agreement but even now it does not mean a straight forward eviction
Watch Nightmare Tenant programme ! It will be even harder and cost LL thousands and even then there is no guarantee that the courts will not rule in favour of a difficult tenant. If my tenants ever give notice I shall not relet. I will use it as a holiday home for me and family.

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