Call for homeowners to pay 40% tax on property

Socialist think-tank the Social Market Foundation is calling on the government to abolish council tax and stamp duty to solve the existing housing crisis and instead impose a 40% Capital Gains Tax on the sale of a home. Opening up the supply of rented and owned accommodation to Registered Social Landlords and changing the taxation system would significantly help the shortage of affordable housing currently available in areas of the UK, such as the South-east, argues Tom Startup, researcher at the SMF. It would also smooth out some of the volatility of the economy which is so heavi...