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By Cyclemonkey · Posted
Won't someone think of the poor people burdened with a £2M house "through no fault of their own" ..... seriously? This is literally unearned money mainly gained through govenrment policies that has given home ownership preferential treatment for decades but you think it is fairer to rise income tax? Young graduates are already effectively paying a higher marginal rate of income tax due to student loan repayments and can barely afford to rent in London, but it is fairer not to touch the unearned housing wealth of boomers? -
Do your own research. Pay per mile is the most equitable way of raising revenue from driving as you pay, per, mile. Ideally you'd replace both VED and fuel duty with this, with some weighting for cleaner vehicles. A more progressive system would change the rate according to the time of day such as the cost for using the tunnels under London. Electric vehicles were always going to lose the perks once mass adoption was under way. They will still be far cheaper to run, particularly if you have a home charger using off peak rates (as low as 10p a KWt). Excise duty has already been introduced for EVs and CC will come in next year. Stop suggesting it is some sort of conspiracy. Government have chickened out putting up fuel duty by inflation, again, and reversing the temporary reduction brought in by the last lot. Cowards. Pushing me towards the Greens although some of the economic policies are daft. -
Don't think I know anyone in a £2m house, so on a personal level irrelevant. However on a related matter there does need to be reform of Council Tax as many around here have done large extensions but still being charged the same as some who are in properties which have not been touched. It would be better to discuss the budget as a whole. Off to do some research on issues that matter to me, sustainable transport, climate change and the like.
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"High Value Council Tax Surcharge – The government will introduce the High Value Council Tax Surcharge a new charge on owners of residential property in England worth £2 million or more, starting in 2028-29. Local authorities will collect this revenue on behalf of central government. Revenue will be used to support funding for local government services, with further detail to be set out at the next spending review. The government will consult on implementation of HVCTS in the new year." https://www.gov.uk/government/publications/budget-2025-document/budget-2025-html#policy-decisions, which shows (Section 5.1, item 54) a projected revenue of £400m in the first year.
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