Is that so called Garden tax really a labour policy (or future policy)?

[daxu]

Hi,
I got interested in policies of both labour and conservative.
Today I read about so called Garden tax attack from some news paper. I tried to find some balanced view from independent (http://www.independent.co.uk/news/u...17-jeremy-corbyn-john-mcdonnell-a7738766.html)

But the more I read about it, the more horrible this tax is for the renting sector. I have my own house, but lots of my friends are renting (some are landlord as well).

This is my calculation:
For a 180-200k property here, on the market, you can let it out maybe 600-700£ a month? with the formula proposed by labour, 0.55*0.03* 200k, it is about 3300£ a year.
The landlord's income is 7200-8400£ a year, and that means if the landlord has any mortgage that pays 300-400£ a month, the landlord won't make any money already.

After you put any maintenance and other fix in, the landlord will lose quite a lot of money every month.

If that is the case, the only option for every landlord will be to sale and the tenants will have to find other places to live?
But as no private landlord can make any money any more, they won't accept new tenants?? Then how can tenants find any place to live? Most of them won't magically have a deposit enough to pay for a new house?
Unless somehow the social housing sector becomes extremely big over night, almost every tenant will be homeless because of this policy?

Is it my calculation wrong or this policy is that crazy???

 

[EFLImpudence]

I think your rental value is a little low for that price property - in my experience, depends on the location of course.

 

[daxu]

sorry, deleted

 

[daxu]

In my area, a property's asking price was 180k. The property next to it was let out and the rent was 700-750£ (I know the landlord).
For a property you can buy for 275K, the rent is like 900£ - 1000£ here. So shouldn't make any big differences.
With that tax and mortgage, landlords already don't make any money or make very tiny amount. Then you put maintenance and all kind of fees, there is no way for landlord to make any money (even when the interest is low).

So no landlords will want to rent to anyone and they will want to sell, what will happen to all the tenants?

 

[JohnD]

The answer to the actual question at the heading of this page, is "No."

The labour manifesto says they will have a review of funding of local authorities, and the Council Tax and Business Rates systems and consider options.

Have a look at the labour manifesto if you want google it.

BTW if you want to quote this section, quote the entire paragraph, not just one or two selected words. I am on a phone so I can't.

It's a bit weird of you to start wailing about a tax that has not been proposed and is not a policy, and even weirder of you to start wailing that the charge will be £x and £x is too much.

Are you going to start wailing that the Conservative might start sacrificing every first-born child to the lizard king, and arguing that it would be better to only sacrifice half of them?

 

[daxu]

The answer to the actual question at the heading of this page, is "No."

The labour manifesto says they will have a review of funding of local authorities, and the Council Tax and Business Rates systems and consider options.

Have a look at the labour manifesto if you want google it.

BTW if you want to quote this section, quote the entire paragraph, not just one or two selected words. I am on a phone so I can't.

Hi, the manifesto said it is in review, but the independent newspaper gives lots of detail on how it works and I checked the offical url: http://www.labourland.org/downloads/papers/land_value_for_public_benefit.pdf

the formula I used 0.55*0.3 is what proposed in that pdf, so not too far way.

Just hard to believe this is something labour was thinking of.

 

[JohnD]

with the formula proposed by labour


Is it my calculation wrong

It is not a formula proposed by Labour. It is a formula proposed by the Daily Express, with the marketing department of the conservative party.

Your calculation is wrong, unless you somehow manage to vote in the Daily Express as the government.

 

[JohnD]

Why do you refuse to use the committment in the labour manifesto?

Your link is not Labour's website.

What are you going to do about the Tory lizard sacrifices?

 

[JohnD]

Just hard to believe this is something labour was thinking of.

It isn't.

 

[daxu]

It is not a formula proposed by Labour. It is a formula proposed by the Daily Express, with the marketing department of the conservative party.

Your calculation is wrong, unless you somehow manage to vote in the Daily Express as the government.

Hi John, the 0.03 is what proposed in the official document, and 0.55 is a very valid number to estimate land value (very conservative in London I would say as Land in London worth much more).

So nothing here got anything to do with Daily Express, it is just information gathered from official document and very reasonable calculation?

 

[JohnD]

https://www.yahoo.com/news/apos-christian-apos-conservative-jesus-091539827.html

I'm nit sure if you are actually thick, or are just pretending.

The proposal is not in the Labour manifesto. It is not Labour policy. Obviously there is no official labour %age because it is not a proposed labour tax.

Here are some websites from conservatives.

https://www.yahoo.com/news/apos-christian-apos-conservative-jesus-091539827.html

https://thepracticalconservative.wordpress.com/tag/chastity/

http://mondoweiss.net/2014/03/conservatives-for-palestine/

 

[JohnD]

policy is that crazy???

Yes, the tory marketing department and the daily express have been driven into hysteria by the sight of Theresa doing such an awful job that her electoral lead is shrivelling away. But they still hope there are people who will believe their made-up story and circulate it.

You, for example.

 

[JohnD]

gathered from official document

Wrong

 

[JohnD]

offical url

Wrong

 

[JohnD]

so called Garden tax attack from some news paper.

Right.

Some Tory newspaper.