Right to buy tenant plan to cost LLs £50 Billion

chucknorris

The-Joker wrote: »

It’s too good to be true any of these perma property bulls saying they are happy to pay twice as much tax.

So I am a perma property bull, really? Why am I selling then? Furthermore why was I posting in 2008 and 2009 that house prices were going to fall to a max of approx 35 to 40%. I am looking forward to your explanation!

Here is the link to one of my 35% to 40% quotes:
https://forums.moneysavingexpert.com/discussion/comment/20036927#Comment_20036927 7

MobileSaver

The-Joker wrote: »

It’s too good to be true any of these perma property bulls saying they are happy to pay twice as much tax.

You really, really do not understand how capital gains tax works do you? Every single landlord in the country would be happy to pay twice as much tax because it means they have made twice as much profit. (For the avoidance of doubt no-one would be happy to pay twice the tax rate but that isn't what was suggested.)

The-Joker

Boris has only got as far as May did, it didn’t get through or her I don’t see why it will work for boris

RealElement47

Boris Johnson’s deal is a “trapdoor to no-deal” at the end of the transition period, as the Irish backstop has now gone.

RealElement47

Things are more uncertain and more unstable than ever before

Anything could happen

Why extend the uncertainty and instability even more? Crazy days

The-Joker

Labour has been accused of trying to kill off the private rented sector after it resurrected its idea of extending Right to Buy to the private rented sector.

Critics said it amounted to nothing less than the compulsory purchase of properties from private landlords. Others called it a ‘cash raid’ and theft. A poster on EYE yesterday asked people to switch off the light on their way out.

Under the proposals, tenants would be able to buy properties from their landlords at a discount – with the pricing criteria set by the Government.

https://propertyindustryeye.com/labour-under-fire-over-plans-to-introduce-right-to-buy-for-private-tenants/

MobileSaver

The-Joker wrote: »

Under the proposals, tenants would be able to buy properties from their landlords at a discount – with the pricing criteria set by the Government.

And of course with the discount paid by the Government/taxpayer so that the landlord doesn't lose out; seems like a win/win for the tenant & landlord and a lose for the taxpayer to me.

The-Joker

MobileSaver wrote: »

And of course with the discount paid by the Government/taxpayer so that the landlord doesn't lose out; seems like a win/win for the tenant & landlord and a lose for the taxpayer to me.

All depends if the land lord is happy to be forced to sell, and if he is happy with the price he is forced to sell.

Generally speaking if somebody is forced to do something and they have no choice then they are not too happy about it

Malthusian

The discount in McDonnell's scheme is paid by the landlord. Corbyn's Labour aren't going to give a bung to landlords from taxpayers.

MobileSaver

Malthusian wrote: »

Corbyn's Labour aren't going to give a bung to landlords from taxpayers.

I'm afraid that was exactly what Labour originally proposed to do; they were going to withdraw a tax allowance from landlords and use that to cover the discount so that landlords still got the full amount.

Unfortunately for Corbyn, the Conservatives got there first and have already reduced the tax allowances so the original plan simply won't work any more. Of course Labour have gone very quiet now on an alternative method of funding the discount.