Andy Burnham yesterday called on Labour to support a wealth tax based on the value of the property.
The Greater Manchester mayor said he wanted to see council tax scrapped and replaced with the new tax.
The proportional tax would see homeowners paying a yearly levy worth about 0.5 per cent of the value of their home instead of council tax and stamp duty.
Supporters, such as the think tank Institute for Public Policy Research (IPPR), say it’s unfair that those who have benefited from rising house prices should pay so little, and talking at an IPPR fringe event, the former Labour MP said that there was a really interesting discussion about how they reform property tax, and he said that the party couldn’t tiptoe around it anymore and that Council Tax was carrying too much weight.
Wes Streeting, Labour’s spokesman on child poverty, told the conference the Government was punching down on families with the cut to Universal Credit.
He continued, Boris Johnson dares to tell parents slogging their guts out on minimum wage to work harder, and that this was coming from a man who hasn’t done a single day of hard work in his life.
Andy Burnham added that the party should push for property tax reform and that this could be a form of Land Value Tax or Proportional Property Tax, but he said they should rename it, saying, call it the levelling up tax.
The council reform should be based on square footage, the number of occupants and local amenities provided, not value.
If five adults live in a house, they all benefit from the services provided, so why should a home of one or two occupants pay the same as a multigenerational home that has several incomes coming in or houses where a specific number of people are jammed into a three-bedroom house? Therefore, a family of six over the road might pay less than a family of two just because their home is detached and the other is a semi.
Council tax should have no bearing on what your house is priced at, and we should all pay the same, it’s the only fair way, but then again it appears that councils are having a disco with our money.
Numerous people who have bought their house, but have a mortgage basically means that the bank, or whoever you got the mortgage from owns your home. Does this mean that if the bank owns your home because you have a mortgage with them, that they should pay the tax and not the person living in the property?
High prices for property means that people have to take out massive mortgages and work twice as hard to pay them off. And countless young people can’t even get onto the housing ladder.
Immigration has taken precedence in the United Kingdom in the last two decades, making house prices high.
Seven million people have entered the United Kingdom since the year 2000, and there aren’t enough properties for all those people, so it’s the basic economic law of supply and demand, and then property prices shoot up.
What we need to do is reduce the UK population to what it was in 2000, to get property prices back down, but of course, things are too late for that, but it’s the working classes who will suffer
the most with these high property prices, so what needs to be done is to get to the root of the problem, the current overpopulation and the ongoing immigration issue.