Hi, with TV broadcaster and motoring journalist Quentin Willson, I have helped stop £30bn of tax hikes at the pumps over the last 5 years through the FairFuelUK Campaign. In fact we changed Government Policy in this area, showing that cutting duty on fuel is good for GDP, jobs and inflation.
As a consequence of this successful campaign, I have been asked by several different interested groups and individuals to stop the Mansion Tax. As an apolitical independent I view the entire UK property taxation system as cumbersome. I feel strongly that we should all come together to make it a fairer and more equitable system. It needs reform to generate the right level of income, not just for the NHS, but for other public services too. No one could argue with that aim, or could they?
It's important to understand why I am against Labour's Mansion Tax. Ed Ball's idea of raising more tax to help the NHS is laudable. However, Mr Osborne has "gazumped” him in his Autumn Statement and announced an extra £2bn for the NHS plus a fairer stamp duty approach.
Labour's Mansion Tax will not work securely, or consistently, to meet their target of funding 30,000 new nurses. See why at http://www.fairhometax.uk/mansion_tax.html
Instead, by simply re-evaluating all aspects of current property taxation and to make them fairer and more progressive, this approach is the more honest option. The Tories should take note too. Anyone disagree?
The perceived "rich” people (and I am most certainly not one of them) already generate a huge amount of tax, investment and employment in the UK. Labour know they will not get their vote. They don't care as they are cognisant that 70% of the public agree with the Mansion Tax to fund more nurses. There is no point in ignoring Labour's emotive arguments in their left wing "politics of envy”. Their message is working north of the Watford Gap.
What Labour doesn't get yet, is that Mansion Tax will simply not work to raise an extra £1.2bn. For example, amongst the many arguments against it, "rich” people will use skilled lawyers to avoid this taxation and make it legally impossible for it to be claimed. I have spoken with many of the 'Mansion Tax Targets' and, without fail, all would be prepared to pay more in council tax. Such a more even-handed taxation approach would bring in a wider group of home owners who would willingly (in most areas of the UK) give more in tax to help the NHS. So another tax is not needed. Why doesn't Labour and the Tories jump on this option?
It's so easy to count the number of houses worth "x” and multiply this by a tax percentage take on their value. The resultant figure however, is indefinable and will be like relying on a chocolate teapot. Useless in terms of functionality and reliability!
This ill-informed based tactic will, in fact, depress all levels of the property market and could be catastrophic on other taxes too, including those growth taxes that are generated through the housing industry, and self motivated entrepreneurs who already invest significantly in UK Ltd.
In common with the public, I see whingeing celebrities coming out against this tax for their own personal greed. Their input only serves to help Labour's belief that it's just the wealthy and famous who are complaining about this tax. We have to counter that belief!
I decided to accept the campaign challenge and to firstly get objective evidence-based explanations. Then use the findings to persuade Labour to rethink their tax raising approach.
I have commissioned independent on-going economic modelling and market research companies, the CEBR and ComRes, to get a real take on the future viability of this levy. Please see the summary of their findings at http://www.fairhometax.uk/CEBR_MANSIONTAX.html
with extracts published in the Daily Mail article below:
It's clear from these Independent professionally produced reports, Mansion Tax will most certainly not work for Labour or the NHS.
It's time to re-think and reform all existing property taxation. Please help us to convince Labour to take this on-board and work with all Parties to raise more NHS funds using a more effective, motivational, economically stimulating and less punitive approach.
Please sign up, support and donate to the FairHomeTax Campaign
Founder of the FairFuelUK Campaign and the FairHomeTax