-
Wouldn't that fuck the entire housing market, and thus anyone who has saved and bought a house for themselves?
I imagine that there would be a correction, but there will be a correction when the pound drops below the Euro and we have food rationing and no jobs.
That to one side, we need to wean the country off rent-seeking behaviours and onto more productive means of making money.
i.e. if I have 50k I should invest it in a local company, or some local companies, or start my own little company rather than getting three BTL's and charging a fortune in rent.
Rent-seeking behaviour should be taxed heavily wherever it appears, making it unattractive.
The problem of course is that most MP's are landlords, and most entrenched money has a lot of property.
-
You only need ONE house to live in, making a living from renting out a house with a paid off mortgage if you already have a house should be taxed way more imho.
Same for these property magnated that buy more and more houses as they have assets to loan against, pricing others out and increasing rents because whatchagonna do, private property rules.
How about a steady ramp to 90% tax on rental income.