11:26 AM, 8th July 2016, About 5 years ago 11
They say a picture tells a thousand words. Well just look at this picture of how Hong Kong has developed over the last 40 years!
It is generally considered that it was the vision of a British Diplomat who turned around the fortunes of Hong Kong by creating a low tax environment to attract business and property development.
I now live in Malta where something similar is going on. The Government introduced a tax incentive for online gaming companies to relocate here. They pay 5% corporation tax subject to a maximum of 500,000 euro’s a year. They bring talent and pay high wages. Naturally their employees pay local taxes and want to live in nice properties, eat in fine dining establishments and buy the latest designer clothes and gadgets. I couldn’t find pictures of how the skyline of my new home town in Sliema, Malta has changed over the last 40 years but I’d like to bet the contrast is equally impressive as the pictures above.
Whilst the British Government continues to bash those involved involved in UK property development and investment, competing Countries are creating incentives for it.
Malta is now the second strongest economy in the EU and yet they don’t have any capital gains tax at all. Now is that a pure coincidence?
If only the British politicians of today could have the same foresight as the British Ambassador had for Hong Kong. All they seem to be bothered about is getting elected and winning the next election!
Our politicians need to be made to listen to logic and reason, not the current claptrap and sound bites currently being spouted by almost all British politicians.
Anybody who wants to be part of the success of the future of Great Britain, by working hard and paying fair tax, should be made welcome, whatever their nationality, race, skin colour or religion. The UK has always been and will still be a Nation highly reliant upon immigration. In the 50’s, 60’s and 70’s we actively encouraged immigration from our former colonies and around the world. We made them welcome by ensuring they had somewhere to live and that mentality needs to be restored for our economy to continue to grow. The answer is a simple one, encourage and provide incentives for all forms of housing development and associated investment. Matching supply with demand is the ONLY way to regulate property prices and speculation. People need REAL choices.
We are no longer going to be a part of the single market of the EU but neither are any other non-EU Countries, which is still most of them, certainly within the developing world and the Countries with the strongest economies.
I am, therefore, urging all people with a genuine interest in property and the success of Great Britain to unite, let us make our voices heard, let us make sure the politicians understand that low tax, positive expansion through selective immigration and above all investment into ALL forms of quality housing provision is the way forward.
Our opportunity is now here!
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