The welfare bill passed, but it was chaos. A party this dysfunctional and divided cannot escape the wrath of voters at the next election, says John McDonnell, former Labour shadow chancellor
I always wondered why first homes were excluded from CGT because it creates perverse incentives in the property market where a home becomes an asset with better returns than any other investment
That’s kind of by design. Every country has a kind of ‘total value’ that effects IMF loans, World Banking, and general status.
The UK is “worth” so much more on paper because of the exorbitant price of property; politicians and homeowners want to keep it high for that reason.
It would increase rental supply if people couldn’t turn (much of) a profit by selling houses that are too big for their needs. I get your point though.
I always wondered why first homes were excluded from CGT because it creates perverse incentives in the property market where a home becomes an asset with better returns than any other investment
That’s kind of by design. Every country has a kind of ‘total value’ that effects IMF loans, World Banking, and general status. The UK is “worth” so much more on paper because of the exorbitant price of property; politicians and homeowners want to keep it high for that reason.
It would increase rental supply if people couldn’t turn (much of) a profit by selling houses that are too big for their needs. I get your point though.