Trackpen
LE
...
The Labour Party have commissioned a report titled “Land for the Many” that proposes changes in the way land in the UK is used and governed.
Some highlights relevant to landlords:
Tenancies should be open-ended, and landlords should lose their power to evict a tenant who has not broken the terms of the tenancy agreement for the first three years of the tenancy agreement, and should have to provide grounds for eviction after that point.
Cap on annual permissible rent increases, at no more than the rate of wage inflation or consumer price inflation (whichever is lower)
Replace the council tax with a progressive property tax. This should be payable by owners, not tenants.
Stamp Duty Land Tax should be phased out for those buying homes to live in themselves, and capital gains tax for second homes and investment properties should be increased
Buy to Let mortgages should be more firmly regulated and restricted.
Discourage land and housing from being treated as financial assets by encouraging banks to redirect lending into productive sectors, and encourage a more efficient use of the existing housing stock.
It looks ok to me. I'd be happy with scrapping SDLT - which is basically a tax on moving house for many people.
Ref the above, somebody in a subsequent post mentioned the ‘Landlord and Tenant Act 1987’.
The Inquiry and Report that led to this legislation was chaired by one Edward Nugee QC: late Father-in-Law of the much loved and admired Lady Nugee, aka E. Thornberry.
Her husband, following very closely in his father’s footsteps, is also in Chancery (indeed, I think he was still a student when his Dad was conducting the inquiry) and I would hazard a guess conversation over the Nugee breakfast table anent this subject could have been quite interesting.