Stamp duty cut is good. It’s one of the worst taxes. There are always negative effects to changing tax rules and the mdia will always publish them before mentioning the big positives.
Remember how the NIC rise was an evil thing targetting the poor, but an NIC cut is an evil thing disproportionately benefiting the rich?
The only criticism of stamp duty cut in this article is that it will push house prices up. That’s like complaining wages will go up if you cut income tax or price of goods will go up with you cut VAT.
How will a stamp duty cut push up house prices?
*She said stimulating housing market demand could push house prices up further, at a time when the supply of available homes is already tight.*
*Borrowers could then find themselves paying higher monthly mortgage costs if the price they have had to pay for their home has increased.*
But it wouldn’t cause prices to go above what they would be with the stamp duty, that would be impossible.
So this headline and article is complete shit.
Dear oh dear, they’re just out of ideas at this point aren’t they? Think inflation is bad now? Wait until we artificially inflate the housing market for the second time in five years…
I’m beginning to wonder if the Tories know that their days in government are numbered, and they deliberately attempting to utterly destroy the economy for the next government so that they can spend their time (with support of their rich Tory donor friends and media) in opposition accusing the new government of wrecking everything, so that they can get back in at the election afterwards.
Stamp duty on first homes is honestly an awful tax on moving. It should be scrapped. This shouldn’t be seen as propping up house prices and more getting rid of a truly terrible tax.
An accountant living in Leeds needed in Reading and a tech expert in Reading needed in Yorkshire? Fuck it, let’s take half a years salary in tax for them to move.
It shouldn’t ever costs tens of thousands in tax just to buy and sell a house, that’s just ridiculous.
Heaven forbid we allow house prices to cool off or reverse!
6 comments
Stamp duty cut is good. It’s one of the worst taxes. There are always negative effects to changing tax rules and the mdia will always publish them before mentioning the big positives.
Remember how the NIC rise was an evil thing targetting the poor, but an NIC cut is an evil thing disproportionately benefiting the rich?
The only criticism of stamp duty cut in this article is that it will push house prices up. That’s like complaining wages will go up if you cut income tax or price of goods will go up with you cut VAT.
How will a stamp duty cut push up house prices?
*She said stimulating housing market demand could push house prices up further, at a time when the supply of available homes is already tight.*
*Borrowers could then find themselves paying higher monthly mortgage costs if the price they have had to pay for their home has increased.*
But it wouldn’t cause prices to go above what they would be with the stamp duty, that would be impossible.
So this headline and article is complete shit.
Dear oh dear, they’re just out of ideas at this point aren’t they? Think inflation is bad now? Wait until we artificially inflate the housing market for the second time in five years…
I’m beginning to wonder if the Tories know that their days in government are numbered, and they deliberately attempting to utterly destroy the economy for the next government so that they can spend their time (with support of their rich Tory donor friends and media) in opposition accusing the new government of wrecking everything, so that they can get back in at the election afterwards.
Stamp duty on first homes is honestly an awful tax on moving. It should be scrapped. This shouldn’t be seen as propping up house prices and more getting rid of a truly terrible tax.
An accountant living in Leeds needed in Reading and a tech expert in Reading needed in Yorkshire? Fuck it, let’s take half a years salary in tax for them to move.
It shouldn’t ever costs tens of thousands in tax just to buy and sell a house, that’s just ridiculous.
Heaven forbid we allow house prices to cool off or reverse!