Tories warn of Labour/Liberal tax plans

Posted: 18 Sep 2006 11:56:01 GMT

            Property News - Tories warn of Labour/Liberal tax plans

Conservative politicians claim that plans by both the Lib Dems and Labour to impose new property taxes will hit homeowners hard.

The Conservative party has issued a warning to homeowners about plans by both the Lib Dems and Labour to impose new property taxes.

Tory politicians insist that the taxes will hit families and pensioners who have invested money in their homes hardest.

According to shadow local government minister, Caroline Spelman, council taxes rises and other charges imposed in response to soaring house prices in Britain could leave those who have seen their properties rise sharply in value hardest hit.

Ms Spelman, said: "It is clear that both Gordon Brown and Menzies Campbell are plotting to introduce a house price tax - and cynically tap into the rise in property values in England in recent years. Brown and Campbell are conspiring to pick the pockets of middle England."

Liberal Democrats leader, Menzies Campbell, is launching new economic proposals that include a tax on "unearned economic rent" by bringing in a "national one per cent property tax", similar to that in place in Denmark, the Conservative party claims.

Party members will vote on the new proposals at the annual conference in Brighton this week, with Lib Dems leaders suggesting that they will help to "stabilise the property market".

Labour is also understood to be considering a similar plan, with a house price tax averaging around 0.63 per cent of a property's value being introduced in Northern Ireland.

Homeowners in the UK have seen council taxes, utility bills and fuel costs soar in recent months and many organisations are concerned about the growing burden of cost on homeowners.

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