"The first duty of government is to keep citizens safe..." UK Home Office. Owning your home provides that safety.
“Everyone gets a plate before anyone gets seconds” but for housing.
Garrett Reuscher @GarettReuscher
A bedroom tax for the wealthy
A policy that’s good enough for the poor, is good enough for the rich, so let’s extend the bedroom tax to fund new house building.
If you own and live in one property you don’t pay the bedroom tax. If you own two or more properties, you pay the bedroom tax on every spare bedroom.
For example, if you own two three-bedroom properties (six bedrooms in total) and your household has two adults in it then you will pay tax on four spare bedrooms. The household would have the use of two bedrooms regardless as to whether the two adults shared a bedroom or not.
The existing bedroom tax charges for tiny spaces. These tiny spaces will be used to measure the number of bedrooms that would fit in a property. This is to prevent knocking walls down and claiming less bedrooms, but also because if you are going to penalise the poorest in society for having a tiny extra room then you can penalise the rich for the same. I’m all for equality.
If a corporation owns residential property the tax applies to all bedrooms across all properties.
The capital gains tax rate will rise to capture back some of the public funds spent into the economy which are propping up the housing market.
The bedroom tax will be set at a level to encourage owners with multiple residential properties to leave the market in order to free up housing for all.
As renters become owners the estimated £15bn a year wasted on subsidising private landlords will be freed up to spend elsewhere.
Housing for all means mortgages for all
“The first duty of government is to keep citizens safe…” As the home office admits it’s the government’s first duty to provide safety, this obviously includes the safety of your own home. To get there:
Everyone 18 years and older will be offered an 80 year interest only mortgage at a rate of 0.1% p.a. for a single property they would live in. Terms and conditions apply!
The mortgages will be available from The people’s bank
