Doubling of council tax for second homes

[PostBrexitInvestor]

The Labour Party has floated the idea of doubling council taxes for second home properties and using funds raised to distribute to good causes across the country. How would this impact those property markets with a large number of second home investors? Would it have an impact upon local economies? Will it work?

 

[diyhelp]

No offence, but socialists are very good at spending other people's money. I have a feeling these funds would be funneled from the South up to the Labour heartlands.

 

[nmb]

Seems like a perfect way for a future Labour government to play Robin Hood - rob from the rich parts of the UK to pay the poorer parts. To be fair, surely that is what socialism in its most basic form is all about?

 

[Longterminvestor]

I fear this may just be the tip of the iceberg for all investors - more punitive taxes on the way as Labour looks to curry favour with voters at the expense of investors. However, if they tip too far they would be voted out at the next election so - even in their socialist dominated minds - they have to show a degree of sense. We shall see....