Originally Posted by
fungus pudding
Exactly - an exit tax removes much of the downside of CGT. i.e. it is less likely to stop things happening or slow commercial activity. According to Goff, their CGT would apply per transaction, but other than that I have not been able to get details of their proposed scheme. Mind you, it will be quite a while before they get near the treasury benches, so whatever they say now will hardly be final policy. You are quite right about more money going into luxury homes/mansions. Less development of rental accomodation also as developers run scared of being able to sell to an investor. Developers who build to hold will dry up for a few years - all these things have happened in other markets. Labour should dust off their history books and look at what happened when Rowling came up with his Speculation tax back in the seventies. The market dried up overnight and prices skyrocketed. Those he tried to help were severely thrashed, and the naughty people (rich pricks) Rowling rallied against made fortunes.
Thinking back, he used to squeak in a very similar fashion to David Parker. Bob Jones nicknamed him the mouse, and on one occasion while Rowling was being interviewed on TV by Brian Edwards, Jones managed to get into the studio and ran across the set in a mouse suit.