Homeowners must be taxed on equity in homes to address crisis, MPs told

[Mordac]

Does that mean there is no point in paying your mortgage off?

No, and it looks like you are actually punished for not having a mortgage, which makes it one of the stupidest ideas ever.

[Addanc]

Radical solution: how about Government simply spending less.

[SueEllen]

Radical solution: how about Government simply spending less.

How?

[AtW]

Radical solution: how about Government simply spending less.

They are buying votes with the spending, are you crazy suggesting they'd stop it?

[vetran]

You ain't seen me.

Roight?

Get down!

[LondonManc]

Equity Tax should only be applied at the time of sale - it would cost too much to levy it each year otherwise.

In terms of spending, the Tories have spent nothing compared to the list of things the Corbyn said he'd do, so I'm not sure how much they can cut back on, other than being brutal on immigrant benefits - 5 years before you can claim, etc.

Then again, the whole IR35 in the public sector is biting them on the 'arris, so they deserve what they get.

[scooterscot]

Radical solution: how about Government simply spending less.

How about recovering taxes from big business off-shoring profits?

[SueEllen]

Equity Tax should only be applied at the time of sale - it would cost too much to levy it each year otherwise.

In terms of spending, the Tories have spent nothing compared to the list of things the Corbyn said he'd do, so I'm not sure how much they can cut back on, other than being brutal on immigrant benefits - 5 years before you can claim, etc.

Then again, the whole IR35 in the public sector is biting them on the 'arris, so they deserve what they get.

Unfortunately it would stop people moving.

Far better to reform council tax to land value tax and charge those who delibrately leave their homes empty but especially uninhabitable, like some Arabs, double for the second year and add additional years bill for 10 years.

Also if companies buy a house a human resident in the UK has to be legally named as the owner responsible for the property and it's bills.

[NotAllThere]

No, and it looks like you are actually punished for not having a mortgage, which makes it one of the stupidest ideas ever.

No - IR35 is more stupid. It's vague in its implementation, and hard to enforce. Taxing assets in such a way that you pay more tax if you pay your mortgage off can be done quite easily and would raise revenue for the government, since in the UK, usually you're obliged to pay off your mortgage after a term.

Perhaps they'll make it even simpler. No deduction for outstanding mortgage. You pay asset tax on how much you paid for the house.

[LondonManc]

Unfortunately it would stop people moving.

Far better to reform council tax to land value tax and charge those who delibrately leave their homes empty but especially uninhabitable, like some Arabs, double for the second year and add additional years bill for 10 years.

Also if companies buy a house a human resident in the UK has to be legally named as the owner responsible for the property and it's bills.

Land value tax? Is that the Corbyn idea that punishes you for a house you bought years ago?
Totally agree with the second part of the comment - unoccupied property used as investment needs taxing more heavily, but similarly you have to be careful not to burst the property bubble.