Andrew Ellinas, Director of estate agents Sandfords, commends CPS report The Shrinking Case for a Mansion Tax.
To read the full article, visit the LandlordZone website.
“The Centre for Policy Studies has just released a Mansion Tax Paper highlighting important flaws with the proposal and its impact on the property industry and the wider economy. Andrew wholly supports the papers claims that it’s an unfair, complex, uncertain and an inefficient wealth tax, and hopes that such documents help in diminishing any case for the introduction of this tax.
He responds: “There have always been fundamental issues with Labour’s proposed Mansion Tax, many of which have been widely discussed within both the industry and media, including the fact that defining a ‘mansion’ would be impossible, and we now find ourselves in a position where Labour’s arguments for such a tax are being significantly undermined.
Additional funds have already been raised following recent reforms to the taxation system, an additional £1 billion since 2009, as indicated in the CPS paper, and this alone raises questions as why we would require a Mansion Tax with evidence that it wouldn’t actually really increase revenues.”
To read the full article, visit the LandlordZone website.
Date Added: Wednesday 4th March 2015
