Labour has accused Chancellor Rishi Sunak of prioritising a tax break for landlords over the need for affordable housing or help for renters.
Labour claims that Treasury calculations show the stamp duty holiday extension for England and Northern Ireland, announced on Wednesday, will cost some £1.6 billion in terms of lost potential revenue.
It also claims that the most recent data shows 34 per cent of homes bought in the 2019/2020 year were second homes, buy to lets or residential properties bought by companies.
Thus Labour claims the Chancellor has therefore given a £545m boost to landlords and second homeowners and says the money could instead have been spent to build 3,000 social rented homes – half the total built across England last year.
“The Conservatives have shown once again they have the wrong priorities, giving tax breaks to landlords and second homeowners while failing to tackle runaway house prices and build truly affordable housing” says shadow housing secretary Thangam Debbonaire.
And she adds: “After a decade of failure on housing, we needed a Budget that put us on the road to recovery and addressed the fundamental flaws in the housing market. Instead we got reheated policies with no new ideas on housing.”
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I would like Labour to just come out and say that they want to ban new BTL's (I'd be happy) Just so the fools that would vote for this find themselves on the street. The gov would then do what we all know and introduce tax breaks for us to invest back into the sector.
Realistically I wish the Gov would announce a major house building initiative as it shouldn't be this contentious an issue to have a home in the 21st century
They only take from me not give. What with Labour and the Tories both rubbish who do we get to vote for. I`m only left with Nigel Farage.
And what is wrong with Farage?
Do me a favour s24 taxing a cost has created a rental housing crisis forcing landlords to sell up. Please do your research before you come out with utter twaddle
Section 24-
5 year Electric tests from next month. Licensing on the cards.
EPC of a C grade from 2025!
Eviction ban.
Now having to pay agency fees for referencing new tenants.
Some ‘giveaway’ to me!!
Potential CGT change in the air.
They can add on whatever they want.
They think they are being clever.
They do not understand that simply, the costs they impose all eventually go to the tenants. NOT to the landlords.
It is so simple, and yet still, these people do not understand the results of their decisions.
In my case, any increase for me from the actions of these dim wits gets passed onwards PLUS a 15% administration charge.
Idiots. Every one of them.
Labour have lost the plot. The 66% of homeowners whom bought with the help of the incentives would disagree with their comments.
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