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While unpopular, and would undoubtedly create some very angry (and vocal) losers, as Polly Toynbee concludes subjecting all house sales to capital gains tax (i.e. removing the exception for primary residences) would be a good ay to start to reverse the asset price inflation at the heart of the UK housing crisis.... its not a sufficient solution but its a necessary part of any housing package that is going to really deal with the dysfunctional housing market!

#housing
https://www.theguardian.com/commentisfree/2024/dec/03/george-osborne-wealth-tax-labour-inheritocracy-work-keir-starmer-rachel-reeves
#housing
Christine Burns MBE 🏳️‍⚧️📚⧖
Would that not make it impossible for people to sell and relocate for work? Whatever your home may sell for you’re likely to need every penny of what the value has become just to buy an equivalent. You’re not richer, the numbers have just got bigger. CGT would just be a tax on mobility for home owners.
Emeritus Prof Christopher May
Yes, there would need to be some thought about how to deal with that issue, but as the idea is to depress house prices in the medium term, there is going to be social costs in the short-term for any policy....

On moving for work, one way to do that would be to offer CGT tax rebates in certain circumstances?

But every allowance opens up the chance to game the system...

Of course we also need to build more (and more appropriate) homes!
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