Axe stamp duty? How Andy Burnham could change property tax

The new PM could bring in revenue for social care or defence with a land levy or by reforming council taxResidential property is the largest store of wealth in the UK, and has long been a target for those who believe homes should be taxed more. Real estate remains a juicy plum for Andy Burnham to pick as he searches for ways to pay for an overhaul of the social care system and higher defence spending, to name just two fiscal priorities. Yet how to tax property, or possibly the land it sits on, has vexed economists and politicians for centuries. Here we discuss the background to the debate and some of the tax options. Continue reading...