Stamp duty cut is a £1.3bn bung for second home owners and landlords

Robert Jenrick: he has an opportunity to do the right thing for a change. Does anybody honestly think he’ll take it?

This Site said it yesterday and now the Labour Party has confirmed it: Rishi Sunak’s stamp duty cut is a bung for rich second home owners and landlords.

I said the cut might be a good idea if it helps people buy houses and boosts construction – but according to Labour, buyers of buy-to-let properties, holiday homes and other second homes will benefit.

In 2019/20, 34 per cent of homes bought were second properties, meaning this is a bung to second home owners costing taxpayers £1.3 billion.

Labour has called for the government to exclude second properties from this cut – arguing that this could fund a gap in local councils’ finances which the Local Government Association predicts will be £1.2 billion by the end of the year.

It’s just a shame that the government minister responsible is Robert Jenrick, who does not have a reputation for doing the right thing.

Here’s Labour’s Thangam Debonnaire:

“It is unacceptable that the Chancellor tried to sneak out this huge bung to second home owners and landlords while millions of people are desperate for support. He should be targeting support to those who need it, not helping people invest in buy-to-let properties and holiday homes.

“An unnecessary subsidy for second home-owners will only worsen the housing crisis by reducing the supply of homes overall.”

It’s a good point – but will our unaccountable Tory government take it?

Source: Revealed: Sunak’s secret £1bn giveaway to second home owners and landlords – The Labour Party

Have YOU donated to my crowdfunding appeal, raising funds to fight false libel claims by TV celebrities who should know better? These court cases cost a lot of money so every penny will help ensure that wealth doesn’t beat justice.

https://www.crowdjustice.com/case/mike-sivier-libel-fight/


Vox Political needs your help!
If you want to support this site
(
but don’t want to give your money to advertisers)
you can make a one-off donation here:

Donate Button with Credit Cards

Here are four ways to be sure you’re among the first to know what’s going on.

1) Register with us by clicking on ‘Subscribe’ (in the left margin). You can then receive notifications of every new article that is posted here.

2) Follow VP on Twitter @VoxPolitical

3) Like the Facebook page at https://www.facebook.com/VoxPolitical/

Join the Vox Political Facebook page.

4) You could even make Vox Political your homepage at http://voxpoliticalonline.com

And do share with your family and friends – so they don’t miss out!

If you have appreciated this article, don’t forget to share it using the buttons at the bottom of this page. Politics is about everybody – so let’s try to get everybody involved!

Buy Vox Political books so we can continue
fighting for the facts.


The Livingstone Presumption is now available
in either print or eBook format here:

HWG PrintHWG eBook

Health Warning: Government! is now available
in either print or eBook format here:

HWG PrintHWG eBook

The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here:

SWAHTprint SWAHTeBook

One Comment

  1. kateuk July 10, 2020 at 11:06 am - Reply

    All they want to do is help their mates in the construction industry, they don’t care about ordinary people.

Leave A Comment