File: //old_home_backup/roofmagazine.org.uk/public_html/roofblog/2006/10/final_whistle.html
<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd">
<html>
<head>
<meta http-equiv="Content-Type" content="text/html; charset=UTF-8"/>
<title>ROOF Magazine - ROOF Blog - Shaky ladder</title>
<link rel="canonical" href="https://roofmagazine.org.uk/roofblog/2006/10/final_whistle" />
<link rel="shortcut icon" href="../../../images/roof/favicon.ico"/>
<meta name="Title" content="ROOF Magazine - Shaky ladder"/>
<meta name="Description" content="THE NUMBER OF PEOPLE taking out a mortgage worth more than the value of their home has soared by 70% in a year, according to…"/>
<meta name="Subject" content="Shaky ladder"/>
<meta name="Publisher" content="ROOF Magazine, Shelter, 88 Old Street, London EC1V 9HU United Kingdom; roof@shelter.org.uk."/>
<meta name="Date" content="31 October 2023"/>
<meta name="Keywords" content="mortgage, housing market"/>
<link rel="stylesheet" type="text/css" href="../../../roof_styles/reset.css"/>
<link rel="stylesheet" type="text/css" href="../../../roof_styles/roofstyles.css"/>
<script type="text/javascript" src="../../../scripts/jquery.js"></script>
<script type="text/javascript" src="../../../roof_scripts/basicscripts.js"></script>
<script type="text/javascript" src="../../../roof_scripts/blog_scripts.js"></script>
<!--[if lt IE 7]>
<link rel="stylesheet" type="text/css" href="http://www.roofmagazine.org.uk/roof_styles/ie_less_seven.css" />
<![endif]-->
<!--[if lte IE 6]>
<style type="text/css">
.clearfix { height: 1%; }
</style>
<![endif]-->
<!--[if IE 7]>
<style type="text/css">
.clearfix {display:inline-block;}
</style>
<![endif]-->
</head>
<body>
<script type="text/javascript">
try {
} catch(err) {}</script>
<!--div id="baseline"></div-->
<!--div id="columns"><div id="columns_bg"></div></div-->
<div id="container" class="clearfix">
<a name="topofpage"></a>
<div class="line" id="adbar60">
<div id="toplh_ad">
<a href="/" target="_blank"><img src="../../../openx/www/images/homelessness_conf_2010.homelessanim.gif" width="468" height="60" alt="Lime Legal" title="Lime Legal" border="0"/></a><div id="beacon_95d2b4015b" style="position: absolute; left: 0px; top: 0px; visibility: hidden;"></div>
</div>
<div id="toprh_ad">
<a href="/" target="_blank"><img src="../../../openx/www/images/localgovbanner.gif" width="468" height="60" alt="LocalGov" title="LocalGov" border="0"/></a><div id="beacon_9d1766b3b9" style="position: absolute; left: 0px; top: 0px; visibility: hidden;"></div>
</div>
</div>
<div class="line">
<div class="item" id="header">
<div class="sap-content">
<a href="/"><img src="../../../images/roof/roof_logo_final.png" alt="ROOF - For better housing" id="roof_logo"/></a>
<ul id="main_navigation">
<li><a href="../../../roofblog">Blog</a></li>
<li><a href="../../../features">Features</a></li>
<li><a href="../../../opinion">Opinion</a></li>
<li><a href="../../../jobs">Jobs</a></li>
<li><a href="../../../diary">Diary</a></li>
<li class="final_item"><a href="../../../about">About ROOF</a></li>
</ul>
<form method="post" action="/">
<div class="hiddenFields">
<input type="hidden" name="ACT" value="19"/>
<input type="hidden" name="XID" value="f1587aa53bf8698f7200aa753ef98ced"/>
<input type="hidden" name="RP" value="search&#47;results"/>
<input type="hidden" name="NRP" value=""/>
<input type="hidden" name="RES" value="10"/>
<input type="hidden" name="status" value=""/>
<input type="hidden" name="weblog" value="features|diary|roofblog|opinion|about"/>
<input type="hidden" name="search_in" value="everywhere"/>
<input type="hidden" name="where" value="all"/>
<input type="hidden" name="site_id" value="1"/>
</div>
<div id="searchbox">
<input type="text" name="keywords" id="main_searchfield" value="Search this site"/>
<button id="main_search_button" type="submit"></button>
</div>
</form>
<div id="subscription_promo">
<p id="promo_text">Online access is now Free. If you have an existing subscription <a href="../../../subscriptions">click here</a> for more information</p>
<!--p id="password_reminder"><a href="https://roofmagazine.org.uk/subscriptions/reset_password.php">Forgot your password?</a></p-->
</div>
<!--div id="login_instruction">Login for your online access: </div--><!--div class="item" id="login_box"><form method="post" action="http://www.roofmagazine.org.uk/" >
<div class='hiddenFields'>
<input type="hidden" name="XID" value="a354efdaf0804732b0d0894be6e52d2d" />
<input type="hidden" name="ACT" value="9" />
<input type="hidden" name="RET" value="//roofblog/2006/10/final_whistle/" />
<input type="hidden" name="site_id" value="1" />
</div>
<input type="text" id="login_user_name" value="ROOF reference" name="username" />
<input type="password" id="login_password" value="Password" name="password" />
<input type="submit" name="submit" value="Login" id="login_button" />
</form>
</div-->
</div>
</div>
</div>
<div class="line clearfix">
<div class="item" id="content_column_blog">
<ul id="breadcrumb_trail" class="clearfix">
<li><a href="/">ROOF</a></li>
<li><a href="../../../roofblog">ROOF Blog</a></li><li><a href="../../../roofblog/2006/10">October 2006</a></li>
<li>Shaky ladder</li></ul>
<div id="blog_single">
<div class="blog_item clearfix">
<h1>Final whistle?</h1>
<div class="clearfix">
<div class="post_details">
<p class="blog_date">17/10/2023</p>
<p class="blog_author"><strong>Posted by:</strong><br/>Julian Birch</p>
</div>
<div class="summary">
<p><strong>WHAT IMPACT</strong> would the tax cuts proposed by the Conservatives’ <a href="http://www.taxreformcommission.com/report.php"><strong>Tax Reform Commission</strong></a> have on housing?</p>
<p>George Osborne and David Cameron were careful to stress that they wouldn’t necessarily accept all the recommendations. It seems a reasonable assumption that tax cuts aimed at low earners financed by new green taxes will be high up the agenda but it is the taxes on capital in chapter 8 of the report that could have the most impact on housing.</p>
<p>The commission wants to scrap inheritance tax and reform capital gains tax at a cost of £2.6 billion a year. It argues:</p>
<blockquote><p>‘Inheritance tax should be abolished. It should be replaced by the reformed capital gains tax which would become chargeable on death, as is the case in Canada. This would ensure that all comparatively short-term gains would be chargeable but that assets held over the long-term (and primary residences) could pass heirs without taxation. This would take primary residences out of all capital taxation, with the exception of stamp duty on property.’</p></blockquote>
<p>Capital gains tax would then become:</p>
<blockquote><p>‘A tax on short-term capital gains only: no capital gains tax should be imposed on a gain arising on disposal of an asset which has been held for over ten years. For shorter periods of ownership the gain would be tapered so that 90 per cent of the gain is taxed after one year’s ownership, 80 per cent after two years and so on.’</p></blockquote>
<p>The proposal on scrapping inheritance tax will be welcomed by home owners looking to pass on the value of their home to their children and by mortgage lenders who have <a href="http://www.hbosplc.com/economy/includes/22-08-06InheritanceTaxKeyFacts.doc"><strong>pointed out</strong></a> the effect of the government’s failure to uprate the threshhold in line with house prices. Buy-to-let investors will also be pleased by the prospect of being able to pay less capital gains tax.</p>
<p>The losers will almost certainly be young first-time buyers. Half of those under 30 already rely on help from their families to buy. What will happen to those who don’t have the tax-free proceeds from the sale of family homes to help them out?</p>
<p>The report does not mention reform of stamp duty on residential property or the council tax.</p>
</div>
<div class="blogbody">
</div>
<div class="blogextended">
</div>
</div>
<div class="blog_tags">
<div id="sharethis">
<a href="http://www.addthis.com/bookmark.php" onclick="return addthis_open(this, 'email', '[URL]', '[TITLE]');" border="0" class="at_email">Email this</a>
<a href="http://www.addthis.com/bookmark.php?v=250&pub=xa-4a48c802796d85f1" onmouseover="return addthis_open(this, '', '[URL]', '[TITLE]')" onmouseout="addthis_close()" onclick="return addthis_sendto()" class="at_share">Share this</a>
<script type="text/javascript" src="../../../js/250/addthis_widget-pub-xa-4a48c802796d85f1.js"></script>
</div>
<p><strong>Tags: </strong><a href="../../../roofblog/tags/tag/politics" title="politics">politics</a>, <a href="../../../roofblog/tags/tag/local-government" title="local government">local government</a<>
</div>
<div id="nextprev" class="clearfix">
<p id="previous_link"><strong>Previous article:</strong> <a href="../../../roofblog/2006/10/off_key">Off key</a></p>
<p id="next_link"><strong>Next article</strong> <a href="../../../roofblog/2006/10/rent_rise">Rent rise</a></p>
</div>
</div>
<div id="comment_list">
<a name="comments"></a>
<h3>Comments:</h3>
<div class="comment_text">
<p>No comments have been made on this article yet.</p>
</div>
</div>
<form id="comment_form" method="post" action="../../../roofblog/2006/10/final_whistle">
<div class="hiddenFields">
<input type="hidden" name="ACT" value="1"/>
<input type="hidden" name="RET" value="http://www.roofmagazine.org.uk/roofblog/2006/10/final_whistle/"/>
<input type="hidden" name="URI" value="/roofblog/2006/10/final_whistle/"/>
<input type="hidden" name="PRV" value=""/>
<input type="hidden" name="XID" value="a8aaaa52dfe9270708380f058826fa5d"/>
<input type="hidden" name="entry_id" value="25"/>
<input type="hidden" name="site_id" value="1"/>
</div>
<div id="comment_input">
<h3>Leave a comment</h3>
<p id="comment_name_field"><label for="comment_name">Name:</label><br/><input name="name" id="comment_name" type="text" value=""/></p>
<p id="comment_email_field"><label for="comment_email">Email:</label><br/><input name="email" id="comment_email" type="text" value=""/></p>
<p><textarea name="comment" id="comment" cols="50" rows="10"></textarea></p>
<div id="captcha_fields">
<p>Enter the word you see below:<br/> <input type="text" name="captcha" value="" size="20" maxlength="20"/></p>
</div>
<p><input type="submit" name="submit" value="Submit" id="submit_comment"/></p>
<!--p><input type="submit" name="preview" value="Preview" id="preview_comment" /></p-->
</div>
</form>
</div>
</div>
<div id="blog_rh_col" class="item">
<div id="mpu_ad_area">
<a href="/" target="_blank"><img src="../../../openx/www/images/hcsroofbanner.gif" width="300" height="250" alt="Housing Care and Support conference" title="Housing Care and Support conference" border="0"/></a><div id="beacon_1d26517b13" style="position: absolute; left: 0px; top: 0px; visibility: hidden;"></div>
</div>
<div class="" id="blog_tags_column_nested">
<form id="mailinglist_form" method="post" action="/">
<div class="hiddenFields">
<input type="hidden" name="XID" value="5f6f6292be0c0f29af394347e4774062"/>
<input type="hidden" name="ACT" value="3"/>
<input type="hidden" name="RET" value="http://www.roofmagazine.org.uk/roofblog/2006/10/final_whistle/"/>
<input type="hidden" name="list" value="blog_notification"/>
<input type="hidden" name="site_id" value="1"/>
</div>
<div id="mailinglistbox" class="clearfix">
<h3>Join the ROOF mailing list</h3>
<p>Receive notification via email of new posts on the ROOF Blog</p>
<p><input id="mailing_email" type="text" name="email" value="Your email"/></p>
<p><input id="mail_submit" type="submit" value="Submit"/></p>
</div>
</form>
<div id="tag_cloud">
<h3>All tags</h3>
<div id="cloud">
<a href="../../../roofblog/tags/tag/2020" title="2020" style="font-size:10px;">2020,</a>
<a href="../../../roofblog/tags/tag/A-E" title="A&E" style="font-size:10px;">A&E;,</a>
<a href="../../../roofblog/tags/tag/accessibility" title="accessibility" style="font-size:10px;">accessibility,</a>
<a href="../../../roofblog/tags/tag/accommodation" title="accommodation" style="font-size:10px;">accommodation,</a>
<a href="../../../roofblog/tags/tag/activism" title="activism" style="font-size:10px;">activism,</a>
<a href="../../../roofblog/tags/tag/admissions" title="admissions" style="font-size:10px;">admissions,</a>
<a href="../../../roofblog/tags/tag/adults" title="adults" style="font-size:10px;">adults,</a>
<a href="../../../roofblog/tags/tag/advertising" title="advertising" style="font-size:10px;">advertising,</a>
<a href="../../../roofblog/tags/tag/advice" title="advice" style="font-size:10px;">advice,</a>
<a href="../../../roofblog/tags/tag/advice-service" title="advice service" style="font-size:10px;">advice service,</a>
<a href="../../../roofblog/tags/tag/affluence" title="affluence" style="font-size:10px;">affluence,</a>
<a href="../../../roofblog/tags/tag/affordability" title="affordability" style="font-size:18px;">affordability,</a>
<a href="../../../roofblog/tags/tag/affordability" title="Affordability" style="font-size:12px;">Affordability,</a>
<a href="../../../roofblog/tags/tag/affordable" title="affordable" style="font-size:10px;">affordable,</a>
<a href="../../../roofblog/tags/tag/affordable-homes" title="affordable homes" style="font-size:16px;">affordable homes,</a>
<a href="../../../roofblog/tags/tag/affordable-housing" title="affordable housing" style="font-size:12px;">affordable housing,</a>
<a href="../../../roofblog/tags/tag/affordable-rent" title="affordable rent" style="font-size:10px;">affordable rent,</a>
<a href="../../../roofblog/tags/tag/ageing-population" title="ageing population" style="font-size:10px;">ageing population,</a>
<a href="../../../roofblog/tags/tag/agency" title="agency" style="font-size:10px;">agency,</a>
<a href="../../../roofblog/tags/tag/agents" title="agents" style="font-size:10px;">agents,</a>
</div>
</div>
<div id="blog_archives">
<h3>Blog archive</h3>
<h4>2010</h4>
<ul id="months_2010">
<li><a href="../../../roofblog/2010/03">March 2010</a></li>
<li><a href="../../../roofblog/2010/02">February 2010</a></li>
<li><a href="../../../roofblog/2010/01">January 2010</a></li>
</ul>
<h4>2009</h4>
<ul id="months_2009">
<li><a href="../../../roofblog/2009/12">December 2009</a></li>
<li><a href="../../../roofblog/2009/11">November 2009</a></li>
<li><a href="../../../roofblog/2009/10">October 2009</a></li>
<li><a href="../../../roofblog/2009/09">September 2009</a></li>
<li><a href="../../../roofblog/2009/08">August 2009</a></li>
<li><a href="../../../roofblog/2009/07">July 2009</a></li>
<li><a href="../../../roofblog/2009/06">June 2009</a></li>
<li><a href="../../../roofblog/2009/05">May 2009</a></li>
<li><a href="../../../roofblog/2009/04">April 2009</a></li>
<li><a href="../../../roofblog/2009/03">March 2009</a></li>
<li><a href="../../../roofblog/2009/02">February 2009</a></li>
<li><a href="../../../roofblog/2009/01">January 2009</a></li>
</ul>
<h4>2008</h4>
<ul id="months_2008">
<li><a href="../../../roofblog/2008/12">December 2008</a></li>
<li><a href="../../../roofblog/2008/11">November 2008</a></li>
<li><a href="../../../roofblog/2008/10">October 2008</a></li>
<li><a href="../../../roofblog/2008/09">September 2008</a></li>
<li><a href="../../../roofblog/2008/08">August 2008</a></li>
<li><a href="../../../roofblog/2008/07">July 2008</a></li>
<li><a href="../../../roofblog/2008/06">June 2008</a></li>
<li><a href="../../../roofblog/2008/05">May 2008</a></li>
<li><a href="../../../roofblog/2008/04">April 2008</a></li>
<li><a href="../../../roofblog/2008/03">March 2008</a></li>
<li><a href="../../../roofblog/2008/02">February 2008</a></li>
<li><a href="../../../roofblog/2008/01">January 2008</a></li>
</ul>
<h4>2007</h4>
<ul id="months_2007">
<li><a href="../../../roofblog/2007/12">December 2007</a></li>
<li><a href="../../../roofblog/2007/11">November 2007</a></li>
<li><a href="../../../roofblog/2007/10">October 2007</a></li>
<li><a href="../../../roofblog/2007/09">September 2007</a></li>
<li><a href="../../../roofblog/2007/08">August 2007</a></li>
<li><a href="../../../roofblog/2007/07">July 2007</a></li>
<li><a href="../../../roofblog/2007/06">June 2007</a></li>
<li><a href="../../../roofblog/2007/05">May 2007</a></li>
<li><a href="../../../roofblog/2007/04">April 2007</a></li>
<li><a href="../../../roofblog/2007/03">March 2007</a></li>
<li><a href="../../../roofblog/2007/02">February 2007</a></li>
<li><a href="../../../roofblog/2007/01">January 2007</a></li>
</ul>
<h4>2006</h4>
<ul id="months_2006">
<li><a href="../../../roofblog/2006/12">December 2006</a></li>
<li><a href="../../../roofblog/2006/11">November 2006</a></li>
<li><a href="../../../roofblog/2006/10">October 2006</a></li>
<li><a href="../../../roofblog/2006/09">September 2006</a></li>
</ul>
</div>
</div>
<div class="" id="advertising_column_blog">
<script type="text/javascript"><!--//<![CDATA[
var m3_u = (location.protocol=='https:'?'https://roofmagazine.org.uk/openx/www/delivery/ajs.php':'/');
var m3_r = Math.floor(Math.random()*99999999999);
if (!document.MAX_used) document.MAX_used = ',';
document.write ("<scr"+"ipt type='text/javascript' src='"+m3_u);
document.write ("?zoneid=1");
document.write ('&cb=' + m3_r);
if (document.MAX_used != ',') document.write ("&exclude=" + document.MAX_used);
document.write (document.charset ? '&charset='+document.charset : (document.characterSet ? '&charset='+document.characterSet : ''));
document.write ("&loc=" + escape(window.location));
if (document.referrer) document.write ("&referer=" + escape(document.referrer));
if (document.context) document.write ("&context=" + escape(document.context));
if (document.mmm_fo) document.write ("&mmm_fo=1");
document.write ("'><\/scr"+"ipt>");
//]]>--></script><noscript><a href="/" target="_blank"><img src="../../../openx/www/delivery/avw_php-zoneid-1-cb-INSERT_RANDOM_NUMBER_HERE-n-aa9d368a.jpg" border="0" alt=""/></a></noscript>
<div id="google_160">
<script type="text/javascript"><!--
/* 160x600, created 2/3/09 */
//-->
</script>
</div>
</div>
</div>
</div>
<div class="line">
<div class="item" id="btt">
<p><a href="#topofpage">Back to top of page</a></p>
</div>
</div>
<div class="line">
<div class="item" id="footer">
<div id="footer_menu">
<h3><a href="../../../about">About this site</a></h3>
<ul>
<li><a href="http://england.shelter.org.uk/shop/subscriptions/roof_magazine">Subscriptions information</a></li>
<li><a href="../../../about/copyright">Disclaimer and copyright</a></li>
<li><a href="../../../about/privacy">Privacy policy</a></li>
</ul>
</div>
<p id="roof_contact">© 2005-09 ROOF Magazine | ROOF 88 Old Street, London EC1V 9HU</p>
<script type="text/javascript">
try {
} catch(err) {}</script>
</div>
</div>
</div>
</body>
</html>