Forum Topic

Labour MPs renege on stamp duty manifesto undertaking

Ruth Cadbury; Labour's Manifesto promise'New deal for first time buyers - no stamp duty on your first home'Labour MPs have voted against the proposed cut in stamp duty, despite backing it in their manifesto just six months ago. Overall, 228 Labour MPs voted against the second reading of the Finance Bill which includes the tax cut first outlined in the Budget. Shadow Treasury minister Jonathan Reynolds admitted this “was a Labour policy included in our manifesto for the June 2017 general election”, yet Labour MPs queued up to oppose the tax cut.Breathtaking given Ruth's recent critical budget comments

John Todd ● 2796d10 Comments

My friend Vanessa Smith is right on all she says about affordable housing but unfortunately ignores the elephant in the debate - something that all homes require - - - - L A N D.LAND is a free gift of nature to everybody on this planet living today. We choose to allow 1% of our population to charge the other 99% a fee (land rent) to be allowed to occupy a space to live, work and play. The solution?Land rent arises when two or more people want to occupy the same site. This annual land rent can be paid to a third party - but as it arises naturally -  might it not be better to use it to pay for public services instead of taxing wages, purchases and trade?Many call this policy collecting "Annual Ground Rent" or more commonly - "annual Land Value Tax" (LVT).Just imagine having cheap homes (only paying the building cost like we do with a car) and paying no income tax, no national insurance, no vat and no import duties. Of course, the house I bought for £11,000 would not now be worth over £350k! A loss to me if I could sell and live in a free cave but a win for all those people (mainly young people) who are homeless, rent or live with friends and relatives.

Dave Wetzel ● 2774d

The Finance Bill contains all of Hammonds budget proposals, most of which Labour rightly object to, such as the £4bn tax windfall for the banks and way these budget proposals bear far more heavily on women. Just because Hammond nicked something from the Labour manifesto is no reason to let him get away with everything else.

Peter Evans ● 2782d

I have a deal of respect for you John, but come on! This post is just smoke and mirrors to cover the dire shortage of housing for people on lower wages and who can't afford to rent never mind buy a home.A different mindset is needed here - we can only solve the problems by ensuring that all empty properties are brought back into use, use modern pre-fabricated building methods for cheap, environmentally sound, plentiful housing at social rents. And most of all we should ALL, especially Labour councils, stop using that bloody phrase 'affordable housing'.

Vanessa Smith ● 2782d

The increased demand will just further ramp up the cost of properties.  This is a short-sighted initiative that does nothing to resolve the underlying issue of availability of real affordable housing.

Paul Scullion ● 2782d

The Government has abolished stamp duty altogether for first-time buyer purchases up to £300,000, and made this relief available for the first £300,000 of properties worth up to £500,000, providing help for people in higher value areas.The changes mean a stamp duty cut for 95% of all first-time buyers who pay it and no stamp duty at all for 80% of first time buyers, with savings of up to £5,000.Over 16,000 first-time buyers are estimated to have already saved thousands of pounds since the changes took effect in November, with over a million first-time buyers set to benefit in total over the next five years.

John Todd ● 2782d

They'll be running out of Tories at this rate and will have to start filling Cabinet posts with members of the DUP (so they will).

Phil Andrews ● 2795d

When will David Davis be announcing his resignation now that Damian Green has been sacked over porn lies?

Paul Scullion ● 2795d

Evidence please, John.

Keith Iddon ● 2795d

PhilOf course!And we have commented -. and taken action within LBH.We can't emulate your satire though.

John Todd ● 2796d

Thanks for sharing that with us John.  Do you or any of your colleagues have any opinions to offer us on any of the local issues which have been variously discussed on this forum over the past four years?

Phil Andrews ● 2796d