15:03 PM, 20th November 2019, About 3 years ago 8
The Liberal Democrats 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
The Lib Dems want to reform the Private Rental Sector:
Promote longer tenancies of three years or more with an inflation-linked annual rent increase built in, to give tenants security and limit rent hikes.
Improve protections against rogue landlords through mandatory licensing.
Increase minimum energy efficiency standards for privately rented properties and remove the cost cap on improvements.
Help young people into the rental market by establishing a new Help to Rent scheme to provide government-backed tenancy deposit loans for all first-time renters under 30.
Increase income tax by 1p:
Raise £7 billion a year additional revenue which will be ring-fenced to be spent only on NHS and social care services. This revenue will be generated from a 1p rise on the basic, higher and additional rates of Income Tax (this revenue will be neither levied nor spent in Scotland.)
Corporation tax reset back to 20%:
Restore Corporation Tax to 20% and keep the rate stable with a predictable future path.
Abolishing separate Capital Gains Tax-free allowance:
Taxing income from capital more fairly compared to income from work by abolishing the separate Capital Gains Tax-free allowance and instead taxing capital gains and salaries through a single allowance.
Commercial Landowner Levy
Replace Business Rates in England with a Commercial Landowner Levy based solely on the land value of commercial sites rather than their entire capital value, thereby stimulating investment, and shifting the burden of taxation from tenants to landowners.