Comparing Labour spending with Conservative spending plans is not very useful unless you are reasonably sure the Conservative government would have achieved those plans - that's a little bit of a sleight of hand in what is normally a pretty cerebral substack.
While all taxes upset somebody, and everyone finds fairness to mysteriously favour their own circumstances, I do think an land value tax on the gross value of a property is pretty distorted - because most of the owners of property are mortgaged. How about a tax on the value of housing equity instead?
If they want to raise CGT, they should bring back indexation, otherwise it mainly becomes a tax on Government inefficiency
I long for the days of Chancellor Nigel Lawson who promised to get rid of one tax every budget and kept his promise.
Comparing Labour spending with Conservative spending plans is not very useful unless you are reasonably sure the Conservative government would have achieved those plans - that's a little bit of a sleight of hand in what is normally a pretty cerebral substack.
While all taxes upset somebody, and everyone finds fairness to mysteriously favour their own circumstances, I do think an land value tax on the gross value of a property is pretty distorted - because most of the owners of property are mortgaged. How about a tax on the value of housing equity instead?
I should have said in the piece - they said in their manifesto they would raise c10bn - so they have raised a lot more than they said they would