Rat and Mouse
Fri
30
Sep
Meanwhile, FT publishes pro-property tax column

Nicholas Boles, MP for Grantham and Stamford, likes the way it's done down under:

Crucially, farmland and people’s main homes are wholly exempt so it does not strike at hard-pressed farmers or elderly people on low incomes living in houses that have become very valuable, which would be hit by the Liberal Democrats’ preferred mansion tax. Instead, the tax bears down on vacant land, holiday homes, investment properties and commercial properties. If we were to implement it in the UK, it would need to be deductible from business rates so that struggling retailers and other firms were not faced with a devastating double whammy – and it might in time replace business rates altogether.

Interesting. And addresses some of the issues plaguing the mansion tax proposal.

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