Menu

If I had a mansion…

Now, I not only admit to a general naivety, but sometimes cherish it, and with my simple view on things I cannot help but consider that if I was fortunate enough to have a home worth a couple of million, why on earth would I not be willing to contribute more to the financial recovery of our country and even specifically to the NHS?

large_3773953427There is much talk of little old ladies in homes they’ve lived in for decades being worth far more than when bought, but just how would said ladies be penalised, I wonder?

Well this is an easy one to research. The Labour website states “Those who have a home worth over £2 million but earn less than £42,000 will be able to defer the tax until the property changes hands.” Seems fair enough to me. Indeed, if I had a property of such value, of course I’d not hesitate to pay extra – for goodness sake… Perhaps the worry is about inheritance tax but surely these days we are beyond such expectations. I know that our generation and beyond are mostly unlikely to inherit anything other than fond memories and the odd memento – we need any assets to keep us in our dotage these days; the offspring will just have to sort themselves out, I’m afraid.

So why is there an outcry? Are there not more significant issues that need attention? Just how far removed are some people from the real world to not appreciate that any property into 6 figures is indeed something of a “luxury”. It may well be that the heart of London is extraordinarily expensive, but would it be such a bad thing to retire to something more affordable, as so many of us will have to do? As someone who fell off the property ladder some years ago, and now at 50 and renting wonders what on earth she’ll be living in, I figure by then I will be able to move somewhere more affordable, that does not need to be near a station and schools. I look forward to this and a wee cottage anywhere in England will suit me just fine. Just me? Should we not all be just a little more pragmatic about things?

Oh for a time of even-handed, honest politicking and reporting.

And why old ladies are in a more precarious position than old men is quite another matter, I suppose.

photo credit: archer10 (Dennis) via photopin cc

Comments

  1. I don’t think that in certain parts of the country, a £2 million house is any more of a luxury than a £500k house in other parts. We all need a roof over our heads, and if we are fortunate enough to be able to not commute but live local then fair enough.

    This is a tax designed not for raising revenue, but for enabling the socialist masses to deliver a virtual kick in the nuts to the conservative right. Why else would the tax be deferrable rather than means tested, like all other taxes? Balls and Miliband have figured that if they can’t get blood out of an old tory stone then they can wait until they can screw the offspring.

    • Personally, David, I’d say that a £500k house anywhere beyond London would be a luxury. Certainly here, one easy hour commute into London, that would buy a lovely home.

  2. I love the fact that the majority of people complaining about the unfairness of the mansion tax have kept remarkably silent about the bedroom tax, something which is unfairly penalising the poor, ill and disabled. Why should the poor pay proportionately more than the rich? And was it anything other than punitive when the housing stock wasn’t available to downgrade to?

    I’d have had far more time for the people who are kicking up a fuss if they had been more vocal in their condemnation of the bedroom tax, put it that way. But that hasn’t been a problem for supporters of the coalition. But they, let’s not dare touch the more affluent, that’s not just cricket eh? Poor people in their £2m houses, maybe we should have a whip round from those terrible scroungers on benefits to subsidise them.