Submitted on Monday 13th March 2017
Published on Monday 27th March 2017
Current status: Closed
Closed: Tuesday 2nd May 2017
Signatures: 10
Tagged with
Introduce a higher rate of capital gains tax for properties left empty for years
With low interest rates and a weak pound, foreign ownership of properties in London has sky rocketed. This has forced up prices so that most people cannot afford to buy a house. Worse still many properties are left empty for years to accumulate in value when then forces up rents elsewhere as well.
Introducing a scaled higher rate of capital gains tax for properties left empty for the majority of the duration of ownership would incentivise owners to rent them out, thus easing the strain on the already overheated rental market.
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