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    (Original post by RayApparently)
    A loss in revenue of £40 billion? Christ.


    We have proposed a tax like this in the past (in a fashion that wasn't so damaging to the national finances). It did not go down well.
    For all the criticisms of this bill, how is revenue neutrality damaging to the national finances?


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    (Original post by Gladstone1885)
    I can see you've done your research so I will consider this before the second reading. I won't keep debating when you clearly know your facts on this one


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    To help you with editing the bill, read the Alternative Tax Act 2015, the Alternative Tax Act (Repeal) Bill 2015, and the Alternative Tax Act (Repeal) Bill 2016 for detailed arguments with sources included about a land tax.
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    (Original post by Gladstone1885)
    For all the criticisms of this bill, how is revenue neutrality damaging to the national finances?


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    I apologise, I misread and assumed the first figure given was net loss.
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    An idea I would support but the bill needs to be fleshed out more.
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    100% in favour, an aye from me.
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    Nay. Very important to maintain inheritance tax at least.
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    (Original post by RayApparently)
    A loss in revenue of £40 billion? Christ.


    We have proposed a tax like this in the past (in a fashion that wasn't so damaging to the national finances). It did not go down well.
    It isn't a revenuie loss of £40bn, it's bad research. The revenue lost from the tax cuts proposed isn't even £40bn (bad research) and taking the old ATA calculations and changing the rate gives a minimum revenue for the new tax of about £80bn for England alone and has high as about a quarter of a trillion (more bad research).

    Actually this is less damaging given the tax hike is slightly lower.
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    Where the tax is applied to the property minus improvements, does that mean improvements made in that tax year, By the current owner or ever?
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    (Original post by Aph)
    Where the tax is applied to the property minus improvements, does that mean improvements made in that tax year, By the current owner or ever?
    It isn't property minus improvements, but value of land as assessed by HMRC. I can see why you would think property - improvements, though, as I wrote that in the bill. Changes to come
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    Nay.
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    Nay
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    I'm all for taxing wealth over other things ect.. but the manner in which you wish to implement it and the taxes you have given priority to mean that i can not as the Shadow Chancellor i cannot recommend that the opposition support this bill.

    Also the idea that cutting corporation tax leads to lower prices is just lol worthy.
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    (Original post by TheDefiniteArticle)
    Nay. Very important to maintain inheritance tax at least.
    (Original post by Rakas21)
    I'm all for taxing wealth over other things ect.. but the manner in which you wish to implement it and the taxes you have given priority to mean that i can not as the Shadow Chancellor i cannot recommend that the opposition support this bill.

    Also the idea that cutting corporation tax leads to lower prices is just lol worthy.
    It's beautiful.

    #bipartisanagreement (though for markedly different reasons)

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    Abstain. For obvious reasons, corporation tax (for large international corporations) should not be lowered. I actually do like the idea of abolishing inheritance tax, and introducing some form of land tax, but I don't see how this can all be achieved on one bill.
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    (Original post by Emily Porter)
    Abstain. For obvious reasons, corporation tax (for large international corporations) should not be lowered. I actually do like the idea of abolishing inheritance tax, and introducing some form of land tax, but I don't see how this can all be achieved on one bill.
    Lolwut, you support the bits that help the 1% (pretty much literally) and the bit that harms everybody (except perhaps the 1% in some cases) and oppose the bit that aids the economy at large (ergo pretty much everybody)?

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    Land value tax = brilliant.

    Not using the revenue to reduce the most regressive taxes = awful.

    Change what you're cutting and we're there. Council tax needs to be first up otherwise you're double taxing property & then I would go with VAT personally.

    http://kaalvtn.blogspot.co.uk/p/valu...-receipts.html - this is pretty cool as a methodology for estimating potential returns to LVT also.
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    Ima withdraw this and come back with something better
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    Nay
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    This bill has been withdrawn.
 
 
 
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