Controversial opinion. Income is not wealth. Labour need to tackle unearned wealth more urgently than earned income. Doing stuff round the edges for higher income and leaving wealth untouched is unfair.
I looked up a flat that has made more money for its owners than I make after tax every year and that increase in wealth is completely tax free.
I remember trying to explain to my dad that although I (back then) had a secure middle class job, I couldn’t afford to buy a flat (without shared ownership) as i didn’t have parents who could just gift me a large force figure sum.
And the distortion on the housing market of that always is super distorting. We now have people on up to £90k applying for shared ownership. If people on £90k have to use shared ownership, what hope for the rest of us.
And that’s before we get to how that housing issue feeds through to choices around work, family etc
The government is once again (with the stamp duty cut) trying to protect unearned wealth. Did Labour have any criticism of that?
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