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Latest Peice Of "genius" From Some "think" Tank!
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So us older folk who have worked and saved all our lives must bale out the kids because the little darlings are finding it too difficult? Life is difficult life is unfair, get on with it.
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Already mugged of savings income due to unfairly low interest rates, they now want the generation who have had it better than previous ones, due to accumulating wealth in the country over time, to be able to grab even further finance from the older prudent generation to gift to themselves. The property ladder may be a little more difficult to get onto now, but...
09:06 Tue 08th May 2018
Very ill thought out:
Give £10,000 to all young adults at the age of 25, funded by a new "lifetime receipts tax" that would replace inheritance tax.
Many no longer inherit due to care home fees so how much will it yield.
Give someone £10K at 25 and what is it going to be spent on?
Scrap council tax and replace it with a new property tax targeting wealthier homeowners
OK, so will be seeing some homeowners forved out of their now expensive homes - that's a vote winer.
Use the proceeds from property tax reform to halve stamp duty for first-time buyers and increase public funding for social care
They appear not to be up to date unless they also think first time buyers should be paying more than 1/2 mil (Only in London should this be an issue)
"At Autumn Budget 2017, the Chancellor of the Exchequer announced relief from Stamp Duty Land Tax (SDLT) for first time buyers. The relief applies from 22 November 2017 to purchases of residential property for £500,000 or less, provided the purchaser intends to occupy the property as their only or main residence."
Make earnings of those above state pension age subject to National Insurance contributions
Unless they put it on savings I this will yield jack.
Give £10,000 to all young adults at the age of 25, funded by a new "lifetime receipts tax" that would replace inheritance tax.
Many no longer inherit due to care home fees so how much will it yield.
Give someone £10K at 25 and what is it going to be spent on?
Scrap council tax and replace it with a new property tax targeting wealthier homeowners
OK, so will be seeing some homeowners forved out of their now expensive homes - that's a vote winer.
Use the proceeds from property tax reform to halve stamp duty for first-time buyers and increase public funding for social care
They appear not to be up to date unless they also think first time buyers should be paying more than 1/2 mil (Only in London should this be an issue)
"At Autumn Budget 2017, the Chancellor of the Exchequer announced relief from Stamp Duty Land Tax (SDLT) for first time buyers. The relief applies from 22 November 2017 to purchases of residential property for £500,000 or less, provided the purchaser intends to occupy the property as their only or main residence."
Make earnings of those above state pension age subject to National Insurance contributions
Unless they put it on savings I this will yield jack.
Already mugged of savings income due to unfairly low interest rates, they now want the generation who have had it better than previous ones, due to accumulating wealth in the country over time, to be able to grab even further finance from the older prudent generation to gift to themselves.
The property ladder may be a little more difficult to get onto now, but it was never easy nor without sacrifice, and present issues would cease if we stopped increasing the population year after year and expecting to resource the continuing growing demand.
I think some think tanks get caught up in agreeing with/backing up other members of their group, and encouraging their suggestions, whilst forgetting to check with reality and the consequences of their wild flights of fancy.
This won't help social cohesion, it's divisive to abuse one section to gift to another, will exasperate any differences of opinion and accelerate any widening gap.
The property ladder may be a little more difficult to get onto now, but it was never easy nor without sacrifice, and present issues would cease if we stopped increasing the population year after year and expecting to resource the continuing growing demand.
I think some think tanks get caught up in agreeing with/backing up other members of their group, and encouraging their suggestions, whilst forgetting to check with reality and the consequences of their wild flights of fancy.
This won't help social cohesion, it's divisive to abuse one section to gift to another, will exasperate any differences of opinion and accelerate any widening gap.
As much a fact as snow is hot.
Just had another look at the article. Interesting graphs. The first shows pay least advantageous to baby boomers. The next show a lack of house ownership among the younger generation, due to excess demand putting up prices and less willingness not to wait for something desired. The third indicates how poorly perception of things one has no experience of matches to reality. Helps nail the nonsense in the suggestion of milking the elderly.
Just had another look at the article. Interesting graphs. The first shows pay least advantageous to baby boomers. The next show a lack of house ownership among the younger generation, due to excess demand putting up prices and less willingness not to wait for something desired. The third indicates how poorly perception of things one has no experience of matches to reality. Helps nail the nonsense in the suggestion of milking the elderly.
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