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Are they going to spend it all
This seems to be one of the (many) problems. You would think most of it will get saved, put in pensions or spent on holidays outside the UK. Maybe a bit goes into the fund to buy something nice in Cornwall now there's £2.5k less SDLT to pay.
The whole policy is a facepalm.
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Are they going to spend it all?
Two main outcomes I think:
The tax savings will be used to cover the eye watering increases to their monthly mortages.
OR
They will just by securities during the recession to cash in later.
NickCJ
Stonehedge
@christianSpaceman
I'm don't understand the justifications you'd have to try to make as to how you could possibly arrive at the solution of giving wealthy people an extra few grand will help the the economy.
Are they going to spend it all? In which case, a small percentage of people spending a small percentage more this year isn't going to help much.
Are they going to save it? In which case it won't do anything
Are they going to start a new business with it? No, because they're presumably already busy with whatever it is that's earning them >£150K.