@MrRBourne Given how much money the Russians have been trucking in over the border to buy no votes, I would say this looks like a pretty conclusive result ๐
@redhistorian No, it is utterly cretinous junk economics. Housing in the UK is scarce and getting scarcer, the quality of the housing stock is deteriorating and we have been getting richer. Simple.
@BBCWomansHour@LorraineELLE@itsanitarani What would these speakers propose instead? Parents enter a lottery each summer to see whether they win access to one of the states price capped holidays to the Algarve?
@BBCWomansHour@LorraineELLE@itsanitarani Several times in that piece speakers were allowed to assume unchallenged that the problem here is unregulated price increases from holiday companies that shouldnโt be allowed. This is simple supply and demand. Of course holidays are cheaper when fewer people want them.
@CutMyTaxUK@DanNeidle Greenspan wasnโt necessarily wrong. But the profits made on primary residences are the purest of pure windfall gains. Literally no-one deserves that cash, and it is trillions. To conflate that with return on invested capital in enterprises is silly.
@DanNeidle I would dispute (1) - itโs a paper profit until you sell, with a modest rate I canโt see this being material. I do agree on some complexity- although this is hardly a barrier elsewhere in the tax system. Plus this is the ONE transaction in life that is always assisted by a lawyer