Ive never understood left wing politics or socialism. All my my family including grandparents all voted for the labour party for all of their lives.
But I never understood it. I tried to, I listened to what they said but it always felt no matter how they worded it as though it will end up clogging the sink so to speak.
A freemarket made perfect sense to me after I discovered it.
I cannot to this day understand why anyone thinks beaurecrats who have never run a business in their lives and have zero experience in these matters should tell businesses how they should be run.
If you owned a cafe and the costs become prohibitive, then you close it down. Why dont they see this? I dont understand.
You wouldnt want heart surgery performed by your local councillor would you?.. Even if he's really interested in investigative surgery?
You are absolutely right Dominic, so why is the Labour government unlikely to follow your advice? I can't believe they are economically illiterate, so what is the real agenda of intentionally working against the interests of ordinary people?
A subject very close to my heart Dominic! Currently trying to sell the family home of 26 years (and I’m not biased, it is gorgeous) which now just has me and hubby rattling around it. Keen to release the equity, buy something smaller, do it up so it will see us through for the next 20 odd years and invest the rest of our cash. It’s not budging nothing in our price bracket is moving round our area. Why would it when there’s a huge bloody stamp duty charge on it? Nobody is even looking. So, we sit here, in a house that should be occupied by a family, not spending, not investing and getting more and more disillusioned with this awful, awful government. Give me strength…if we could vacate this country we would.
You are only going to encourage her to find a way of taxing people who wont and can't move! She's hardly likely to amend Stamp Duty in any way that offers a reduction.. It's not in the mindset.
Reeves and Starmer are not completely stupid. They, and their allies in the Civil Service, are ideologically hard-left, if not actual Communists (many in the Labour parliamentary party are overtly of these views)
This is apparent through examining the outcomes from their policies, not the supposed intentions.
Housing stamp duty is perhaps the most destructive of Britain's taxes. For example a disincentive to downsize after raising a family, thus freeing up larger homes for young couples.
Where on the Laffer curve would raise most taxes from stamp duty? Imagine if stamp duty was a uniform 1%. Perhaps that would raise almost as much.
Why have so many chancellors reached into the stamp duty cookie jar? It would be far more logical in terms of taxes, incentives and economics to reform, broaden and reband council tax.
The explanation is simply that at any one time, there are many more people living in a home and paying council tax than there are moving house and paying stamp duty. It is politically difficult and unpopular. Not impossible, you need two pre-conditions. A governing party with a large majority and a clear headed leadership with a passing understanding of economics.
The past two general election delivered large, working majorities. So it is, in my view, the poor quality of our recent leaders that is stopping reform of stamp duty.
Sorry to be the messenger of doom but 'they', the inner cabbals that these creatures serve, do not want you to own your own home and, apart from the rich and the rare, those that do will be squeezed out one way or the other.
Read The Iron Mountain report sponsored by JKF just before he was killed or listen to it on youtube, dated but this is their agenda and they're dead on target along with Kalergi Plan. The truth is they'd like nothing better than to put what will eventually be left of the worlds population in a THX1138 senario, you know, that movie that was made by a collaboration of Lucas and Copella, Aynn Rand and Philip K. Dick told us much the same. This is their wet dream that drives them to work so hard to subjugate humanity, as indeed history tells us. There is no theory involved in these conspirators actions.
Well said, Dominic. My wife and I live in a house which is now a little larger than we really need. Our three adult kids say “downsize now, ready for when you get older”. It’s logical but no, because a) we really like our house, b) we don’t need to, financially, and c) I’m buggered if I will pay £50k for the ‘privilege’ of moving to a smaller house. Government is so dumb!
PS . I thoroughly recommend Dominic’s ‘Daylight Robbery’ book. You just wouldn’t expect a book on taxation to be so interesting.
I am desperate to move to a bungalow because of health issues and mobility. My house is up for sale, and if I say so myself, is in a lovely large village with lots of amenities, schools etc. I have had only one person to view, who said it was the best house he had seen - but still nothing. Where I live houses usually sell on the first day of being advertised or within days. How things have changed. There is quite a lot of property for sale in our village at present, which is not usually the case. Because of a friend's awful experience I am looking for a detached property, but obviously do not want to end up owning two properties. What a mess the system is in and now with this lack lustre government I cannot see things improving. I am on holiday, staying in a cabin, so can see the benefits of being on one level.
You always hit the nail on the head Dominic, what a shame you aren't a government adviser - but it would most likely drive you mad working with a set of out of touch dimwits. Everyone says it, but they really are out of touch and have no idea of the real problems people face.
Strange that you live in London, describe yourself as middle class, but can see quite clearly what the issues are and the way forward. Keep on Dominic we need common sense comments.
Really? I thought you were against massaging the property sector. What you advocate here is a continuation of property as the key investment/speculation of the country. We know (you know) how that has skewed the economy and hammered productivity. Let's have serious property price deflation, when that happens, no one will be worried about the sales tax. The young will jump in, a floor at much lower levels will be established, that will hurt current property owners. Tant pis. We need much more than more of the same.
Ive never understood left wing politics or socialism. All my my family including grandparents all voted for the labour party for all of their lives.
But I never understood it. I tried to, I listened to what they said but it always felt no matter how they worded it as though it will end up clogging the sink so to speak.
A freemarket made perfect sense to me after I discovered it.
I cannot to this day understand why anyone thinks beaurecrats who have never run a business in their lives and have zero experience in these matters should tell businesses how they should be run.
If you owned a cafe and the costs become prohibitive, then you close it down. Why dont they see this? I dont understand.
You wouldnt want heart surgery performed by your local councillor would you?.. Even if he's really interested in investigative surgery?
Indeed. I come from left wing roots too, albeit restrained ones
Socialism is all about sharing nothing with everyone!
You are absolutely right Dominic, so why is the Labour government unlikely to follow your advice? I can't believe they are economically illiterate, so what is the real agenda of intentionally working against the interests of ordinary people?
What have they done to make you think they’re not economically illiterate?
A subject very close to my heart Dominic! Currently trying to sell the family home of 26 years (and I’m not biased, it is gorgeous) which now just has me and hubby rattling around it. Keen to release the equity, buy something smaller, do it up so it will see us through for the next 20 odd years and invest the rest of our cash. It’s not budging nothing in our price bracket is moving round our area. Why would it when there’s a huge bloody stamp duty charge on it? Nobody is even looking. So, we sit here, in a house that should be occupied by a family, not spending, not investing and getting more and more disillusioned with this awful, awful government. Give me strength…if we could vacate this country we would.
Your situation applies to the whole country.
They ramped up house prices and then destroyed the market
You are only going to encourage her to find a way of taxing people who wont and can't move! She's hardly likely to amend Stamp Duty in any way that offers a reduction.. It's not in the mindset.
I hadn't thought of that
A fantastic letter Dominic. There isn’t a single sentence any rationally-minded person could argue with.
Fat chance that she’ll take any notice of this. Or indeed that she’ll even be in Number 11 to implement it, even if she wanted to.
The level of economic illiteracy in Westminster is terrifying…
IKR
Reeves and Starmer are not completely stupid. They, and their allies in the Civil Service, are ideologically hard-left, if not actual Communists (many in the Labour parliamentary party are overtly of these views)
This is apparent through examining the outcomes from their policies, not the supposed intentions.
https://www.lbc.co.uk/news/rachel-reeves-portrait-communist-hero-ellen-wilkinson-in-no-11-downing-st/
Indeed
Housing stamp duty is perhaps the most destructive of Britain's taxes. For example a disincentive to downsize after raising a family, thus freeing up larger homes for young couples.
Where on the Laffer curve would raise most taxes from stamp duty? Imagine if stamp duty was a uniform 1%. Perhaps that would raise almost as much.
Why have so many chancellors reached into the stamp duty cookie jar? It would be far more logical in terms of taxes, incentives and economics to reform, broaden and reband council tax.
The explanation is simply that at any one time, there are many more people living in a home and paying council tax than there are moving house and paying stamp duty. It is politically difficult and unpopular. Not impossible, you need two pre-conditions. A governing party with a large majority and a clear headed leadership with a passing understanding of economics.
The past two general election delivered large, working majorities. So it is, in my view, the poor quality of our recent leaders that is stopping reform of stamp duty.
Easy to raise …
She will probably bring in unrealised gains tax as we have in Australia now ? They seem determined to fleece us all !
I fear that’s coming
So that means if I own stocks and they increase in value I would be taxed? In the USA I would only be taxed if I sold them.
Spot on as usual Dominic. The left really don’t get this at all.
Thanks!
Open letter to Dominic.
Sorry to be the messenger of doom but 'they', the inner cabbals that these creatures serve, do not want you to own your own home and, apart from the rich and the rare, those that do will be squeezed out one way or the other.
Read The Iron Mountain report sponsored by JKF just before he was killed or listen to it on youtube, dated but this is their agenda and they're dead on target along with Kalergi Plan. The truth is they'd like nothing better than to put what will eventually be left of the worlds population in a THX1138 senario, you know, that movie that was made by a collaboration of Lucas and Copella, Aynn Rand and Philip K. Dick told us much the same. This is their wet dream that drives them to work so hard to subjugate humanity, as indeed history tells us. There is no theory involved in these conspirators actions.
Very Best regards.
☘ Mtn Blessings.
💖🙏💫
Probably :(
Well said, Dominic. My wife and I live in a house which is now a little larger than we really need. Our three adult kids say “downsize now, ready for when you get older”. It’s logical but no, because a) we really like our house, b) we don’t need to, financially, and c) I’m buggered if I will pay £50k for the ‘privilege’ of moving to a smaller house. Government is so dumb!
PS . I thoroughly recommend Dominic’s ‘Daylight Robbery’ book. You just wouldn’t expect a book on taxation to be so interesting.
Thanks Richard. You are very kind
I am desperate to move to a bungalow because of health issues and mobility. My house is up for sale, and if I say so myself, is in a lovely large village with lots of amenities, schools etc. I have had only one person to view, who said it was the best house he had seen - but still nothing. Where I live houses usually sell on the first day of being advertised or within days. How things have changed. There is quite a lot of property for sale in our village at present, which is not usually the case. Because of a friend's awful experience I am looking for a detached property, but obviously do not want to end up owning two properties. What a mess the system is in and now with this lack lustre government I cannot see things improving. I am on holiday, staying in a cabin, so can see the benefits of being on one level.
You always hit the nail on the head Dominic, what a shame you aren't a government adviser - but it would most likely drive you mad working with a set of out of touch dimwits. Everyone says it, but they really are out of touch and have no idea of the real problems people face.
Strange that you live in London, describe yourself as middle class, but can see quite clearly what the issues are and the way forward. Keep on Dominic we need common sense comments.
Thank you so much. So annoying!
Your voice is 100% clear and delighful, their are so few in the metropoli of the would !
🙏
Really? I thought you were against massaging the property sector. What you advocate here is a continuation of property as the key investment/speculation of the country. We know (you know) how that has skewed the economy and hammered productivity. Let's have serious property price deflation, when that happens, no one will be worried about the sales tax. The young will jump in, a floor at much lower levels will be established, that will hurt current property owners. Tant pis. We need much more than more of the same.
I’m advocating fewer lower taxes.
Yes totally agree. However the government is in a corner, and increasing taxation is the only way for them to stay in power for the next 4 years.
I’m also in the house position but for me to move the stamp duty is £70,000. Crazy.
So many people saying the same thing