Labor hints at increases to pay …
Labor leader Sir Keir Starmer has hinted for the second time that he is looking to property to help fund his spending plans.
Over the weekend, the Labor leader – in Brighton for his party’s annual conference – told the BBC’s Andrew Marr that a tax hike was a possibility.
He said: “Look at the choice the government is making… under their tax they announced the other week, those who own a lot of properties as owners don’t pay a dime more than their tenants do. active. “
Asked by Marr what taxes he would consider, Starmer said: “Nothing is on the table, but we don’t know what the state of the nation’s finances will be like heading into an election.”
Earlier this month he hinted he would target property, telling the Local Government Association – which represents the councils of England and Wales – that paying for social care primarily through national insurance, as expected by the government, was unfair.
He told the LGA: “Workers will pay more taxes now, but may still have to sell their homes to pay even later.
“It’s an unfair plan that doesn’t work. And who stays with the bill? These are people who work. It is especially low-income people and young people who have already borne the brunt of the economic impact of the pandemic. “
And he said the government had left “a private landlord renting out several properties without paying a dime more in tax, and their tenants working hard to shoulder the burden.”
He added: “The money [for social care] could have been increased by taxing the income of owners, and those who buy and sell large amounts of financial assets, stocks’ stocks.
However, one property tax that may disappear if the Labor Party takes power is the corporate rate.
Phantom Chancellor Rachel Reeves will say at the conference today: “Our High Street businesses are doing so much to enrich our lives and our communities, in the face of enormous adversity over the past year. March. The next Labor government will cut corporate rates. Reeves says the business rate would be replaced with an as yet undefined alternative.
Starmer makes his opening speech at the party conference on Wednesday.
The party has already announced in recent days that it will, if it wins power:
– introduce a cap on the number of properties in a new development that can be bought by foreign investors – the limit will be 50 percent;
– first-time buyers would have a “first shot” on new developments, off-plan, for six months – a policy similar to that proposed in 2019 by Labor under the leadership of Jeremy Corbyn;
– reduce the definition of affordable rent, which is currently widely regarded as 80 percent of local market rent levels – instead, Labor wants this to be only 30 percent of average household income;
– reform of expropriation to allow the use of unused businesses and other categories of non-residential property for housing;
– give municipalities the power to buy empty land at their agricultural value, instead of paying the “hope value” of the land with a future building permit.