Labour is considering raising the buy to let and holiday home stamp duty surcharge above the current three per cent if it wins power at the General Election.
An online announcement by two Labour parliamentary candidates claims that shadow housing minister Matthew Pennycook is considering “raising the three per cent stamp duty surcharge for second homes.”
The statement coms from Jayne Kirkham, candidate for Truro and Falmouth, and Perran Moon candidate for the nearby Cornish constituency of Camborne Redruth and Hayle.
The statement says: “On the pressing issue of the excessive numbers of second homes and short-term holiday lets, where the Conservative government has manifestly failed to act with the urgency required, Labour is giving serious consideration to a raft of new powers and tools to tackle the problem.
“These include the introduction of new planning use classes and greater scope to use Article 4 directions to give local communities the ability to address excessive concentrations of second homes or holiday lets; the ability to implement selective licensing schemes for holiday and short-term lets; raising the maximum level at which local authorities can set council tax premiums to 300 per cent; [and] raising the three per cent stamp duty surcharge for second homes.”
It adds the reforms are also being considered to the planning system to give local communities greater control over housebuilding in their areas by according greater weight to up-to-date local and neighbourhood development plans and introducing mechanisms to block speculative development that does not align with them.
The statement goes on to say: “Labour has already committed to ensuring that local first-time buyers will be prioritised for new homes built, so that our grown-up children living at home are finally able to get on the housing ladder. Labour’s new Renter’s Charter will protect Cornish tenants and make renting more secure by scrapping Section 21 ‘no fault’ evictions and extending notice periods.
“Under a new Labour government, rapid devolution of powers to Cornwall will begin the process of solving the Cornish housing crisis – with a goal of ensuring that everyone will have a first home, before anyone owns a second home.”
Kirkham says: “Our housing crisis has been getting steadily worse right across Cornwall. We have upwards of 25,000 second homes and holiday lets in Cornwall. Meanwhile, 23,500 families wait for a home on the Housing list, because purchase and rental prices are way beyond their means. The Labour Party completely understands the challenges this presents for Cornish communities.”
And Moon adds: “I am extremely excited about the range of measures that Jayne and I have been discussing with colleagues at Labour head office. I am very confident that by the time of the general election, the offer we make to the Cornish people to deal with our housing crisis will be in stark contrast to the record of abject failure on housing from Cornish Conservatives, both locally and nationally. When it comes to dealing with the Cornish housing crisis, Labour means business.”
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They might bring Stamp duty in line with the Scottish communist Party’s 6%. I fear that whichever party wins the Next GE, all us landlords and Tenants will be punished further! What a state our country is in!
Those landlords staying the course in Scotland are reaping the benefits of market forces where a diminishing supply is sought by an increasing demand.
The losers are the renters, especially families wanting to stay long term. However most renters are SNP (or Labour) supporters so they are reaping what they have sown!
Agreed Robert, a friend of mine who has a car body repair workshop had to lay a guy off last time there was an increase to the minimum wage as he could no longer afford to pay him
The main reason rental prices are beyond their means is because Cornwall is a low wage economy and the LHA has been frozen at ludicrously low levels for several years.
I would prefer that they raise the minimum wage. LHA drives all rents up, but making work pay better instead of having to rely on benefits, would be better for all.
A higher minimum wage would destroy the viability of many small businesses, especially in hospitality and the care sector.
I would prefer to increase in-work benefits for many low earners, paid for by reducing benefits currently paid to those who refuse to fill the million plus vacancies in our economy.
Jeremy Vine has been discussing whether the native Brits are to lazy to fil jobs normally taken by migrant workers.
I feel they are too well off on taxpayer funded benefits and lack the economic imperative to work. Lower unemployment benefits would instil a desire to work once they have got their weight down to healthy levels and hunger overtakes laziness.
A business that relies on underpaying its workers who then claim benefits isn't really viable is it? Whilst I agree with encouraging & supporting people into work rather than living on handouts, the state, ie the taxpayer is subsidising the bottom line of too many businesses by paying low wages.
Tricia. Reminds me of the time I and my wife were on our half world cruise when we retired. A business owner travelling with us was complaining that paying the miniumum wage was too much. I pointed out that the minimum wage was less than one needed to live on and that us taxpayers were subsidising her payroll by way of benefits just so her employees could have a living income. She still enjoyed the rest of her world cruise though.
Tricia
I know many small businesses where the owners earn less than their employees and work much longer and harder.
It's surely better to subsidise someone in gainful employment than some sofa surfers?
Employment leads to other employment, more taxes collected and greater wealth for the country. Sofa surfing (fortunately) often leads to an early death after draining the tax payer and the NHS trying to prolong a pointless indolent life.
William
I trust you realise that the crew on cruise ships typically earn much less than our minimum wage rates?
No doubt you gave massive tips to make up the difference for your own stateroom attendant (or butler?), waiters etc.?
Tricia
A great many of these businesses that pay low wages are either public or private sector care providers. If they increased wages everyone's taxes would have to rise to pay for it.
The other people in Cornwall on low wages are usually working in seasonal tourism or agriculture jobs. Their hours fluctuate through the year and the pay may actually be OK for the hours they work. It just isn't consistent.
LHA was supposed to cover the cheapest 30% of properties. Now it is hard to find anything at all at LHA rates. So Local Authorities just make additional Discretionary Housing Payments to bridge the gap for existing tenancies. It makes it virtually impossible for low income families to move house or young people to leave their parents home.
A great many landlords won't rent to Benefit assisted tenants anyway so I don't really see the link in LHA rates and general rent rises.
“ Labour means business “ 🆘🆘😰😰 words to send fear through any future investors.
What a load of old tosh another one that knows nothing about the Business, following populism and media hype, elect her immediately
Government and several Organisations shouting about homelessness and shortage supply.
She has the answer hike Stamp Duty to reduce supply even more that should do the trick, if not Remove Section 21 another great idea for McDonalds that has increased the Holidays Homes in Cornwall and every where else.
Of Course Removal of S.21 has also driven out Hundreds of Thousands of Private Landlords already further Reducing Supply and the very threat was enough to do this not even Law yet.
Planning restrictions is she off her trolley I know some people already that was minded to do Building Projects but did not proceed due to onerous Planning Rules, too expensive and time consuming.
She is moaning about Supply and everything she thinks makes it worse no least on about expansion of Selective Licensing Driving out more Landlords.
It’s hard to imagine she hate Tenants so much forcing their Rents through the Roof with all this nonsense which is wait is.
Tenants now struggling and arrears mounting but she wants them to suffer more, go to the top of the Class you silly billy.
Amazing how these two can get 'extremely excited' by constricting supply even further, just a thought for them. Why do they not offer incentives to landlords to refurbish current run down properties and bring them back to life with the caveat of renting to local families. That way both win, possibly this does not get them extremely excited enough...
Great observation. When will these Politicians learn that rewarding and incentivising Landlords a lot of the housing issues would disappear. More rentals mean competition and therefore rents falling. Abolish Section 24 to ease pressure off mortgaged Landlord's, I for one would then not have to hike my rents up so much.
Give Landlord's confidence with new legislation. Before getting rid of S21 trial new legislation in allowing Landlord's to demonstrate when they need to evict tenants. My belief then would be that S21's would hardly be used.
Rogue Landlord's need to be dealt with quickly and appropriately.
Lastly, work with Landlord's to insulate their properties. Low interest loans from the Government or tax incentives could be a start. It would then be a win win for all.
Policies that clearly are based on envy plus going to war with Landlord's is not helping anyone!
Cornwall has a big problem with workshy people who are abusing substances and wrecking anything.
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