2004...My Ar*e....Make Your Predictions...

mbga9pgf

Easiest way, target above RPI increases in capital in our homes. My way:

3.5X multiple max regulated by FSA
No self Cert (liar loans) proof of income a must
minimum 10% deposit

The best bit (Gordy would love this) All capital gains on houses from purchase date above RPIX to be taxed at 90%. Second homes, same, except rate 95%. Increase above this allowed upon production of reciepts for work done to home, however, there reciepts are adjusted by 10% every year for effects of wear and tear. Extentions etc can be added on, again however, not above the level that was paid to the builder and shown on their vat reciepts. Abolish stamp duty. That is the only way I can see of politically stabilizing prices. As for the economy at large, increase the remit of the FSA, make it completely independent of the Government, funded using cash generated by the BOE, again, set budgets and no rises above RPI. BOE appointments made by politically neutral FSA. FSA has powers to charge individuals with corporate fraud and has complete oversight of the market. Only people able to interfere with the FSA would be the courts who would deal with appeals.

Kenny4315

mbga9pgf wrote: »

The best bit (Gordy would love this) All capital gains on houses from purchase date above RPIX to be taxed at 90%. Second homes, same, except rate 95%.

That would really help the market....

It would mean that movement up the ladder would be effectively stopped, as all the equity in your property would be taxed, result no deposit once selling/moving costs are taken into account. It would really encourage people work hard to better themselves. I believe in a LOW TAX policy, not all my hard earned paying for CHAV's and incompetent governments. I also believe now I am older and wiser that 'socialism' does not work, I feel the best system is for people to pay for what they consume, rather than paying for what others waste.

If the TAX regime you propose happened the countries wealth would simply up-sticks and move prior to the law being made.