The Government has dismissed speculation that new council tax bands will be introduced to recoup more revenue from the wealthiest homeowners. It follows reports the government was considering additional bands for homes valued over £1,1.2,and £2 million. Most papers report that George Osborne is now expected to raise stamp duty in next month’s Autumn Statement to compensate.
So finally George Osborne gets off the fence the opposition party put him on, and hoists his colours to the main party-line! Well that took a while but was it worth waiting for? Not really! Same old, same old rhetoric, of protect the wealthy! As one day they may vote us back in as the only party, no coalition this time! And as a way to sweeten the pot, no stamp duty for the rich this time around!
So what do we get instead, oh yes a hidden agenda of raising stamp duty, but for who and at what cost to people’s housing aspirations, not really clear on this either, and l quote! An increase in either stamp duty or capital gains tax are other possibilities if the council tax option is ruled out. Seems pretty certain then we all know what he is going to do in next months budget!
Either way someone will pay, and l would not take bets if, if l were a betting man, it will not be the beleaguered tax payer, ever willing to shoulders this governments, ineptitude!