Labour: changes proposed regarding taxes could not only make life difficult, but virtually impossible

Taxes on property are legalised theft. The only fair taxes are taxes on real income. Under the publicised intention of a fairer system, taxes proposed by Labour are no different from expropiation implemented by the Soviet Communist Party when they took over power. People lost their homes and their land and they were no longer financially independent.

I have long criticized Business Rates, because they are not based on income. They are based on the space occupied by a business measured in square feet. So making money or not making money the said tax is a burden on businesses that prevents many from setting up companies. But the new tax based on the value of a property will ruin families and deprive them of the homes they work so hard to acquire.

If you say that you are going to charge as tax 1 per cent of the value of a property, if a house is worth 800,000 Pound then what you are actually saying is that families than own their houses will have to pay 8,000 as tax every year. Today, Council Tax is about 2500 Pound. So the new tax will be three times higher.

If you are a pensioner receiving about 12,000 Pound a year then you are going to be left with 12,000 minues 8,000 = 4,000 to pay for living expenses for an entire year. In other words, you are not going to have enough to survive.