{"id":53039,"date":"2017-04-27T00:59:37","date_gmt":"2017-04-26T17:59:37","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/reform-property-laws-to-reduce-inequality-letters\/"},"modified":"2017-04-27T01:03:23","modified_gmt":"2017-04-26T18:03:23","slug":"reform-property-laws-to-reduce-inequality-letters","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/reform-property-laws-to-reduce-inequality-letters\/","title":{"rendered":"Reform property laws to reduce inequality | Letters"},"content":{"rendered":"


\n\u00a0Ian Jack engagingly highlights the massive inequality being created by the inheritance of property (Property feeds the roots of inequality in Britain, 22 April), but does not say what can be done about it. Inheritance tax would be a good idea if people paid it, but they mostly don\u2019t. There is an abundance of advice online and in the press on how to avoid IHT quite legally. The richest landowners would be foolish not to take advantage of these exceptions. On the other hand, a tax on the value of land cannot be avoided, yet despite centuries of intelligent discussion from all points of the political compass it has not surfaced as a headline policy option for over a century. There are technical puzzles around registration and valuation to be argued over, but the real obstacle is political. People who own the most valuable land would have to pay more than they currently do in council or inheritance taxes. Between 1909 and 1914 the landed gentry, in the form of the House of Lords, effectively sabotaged an attempt to introduce LVT by the then Liberal government\u2019s chancellor, David Lloyd George. In the most polarised election for decades, his words should inspire the Liberal Democrats and Labour now: \u201ca fully-equipped duke costs as much to keep up as two dreadnoughts, but is much less easy to scrap\u201d.Dr Sebastian KraemerLondon\u2022 Ian Jack gives us an excellent account of the unfair wealth windfall being accrued by older homeowners and passed on to their children and grandchildren. I\u2019m surprised he doesn\u2019t mention the Tory rules that were just made operational this April 2017, which mean you could pay even less inheritance tax if you\u2019re leaving property to a family member. Hardly any media pointed out the effect this will have on increasing inequality via property, mainly because the vast majority of homeowners are quite happy to go along with it. Jeremy Corbyn says the Labour party would fund a \u00a310-a-week rise to the carer\u2019s allowance by reversing this inheritance tax cut, but how many potential Labour voters who are also homeowners will support this? Where is our sense of social justice?Mary Ann HooperWirksworth, Derbyshire Continue reading…
\n
\nSource : theguardian.com
\nRead more…Reform property laws to reduce inequality | Letters<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0Ian Jack engagingly highlights the massive inequality being created by the inheritance of property (Property...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-53039","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-dNt","jetpack-related-posts":[{"id":86709,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/inheritance-tax-can-it-be-the-answer-to-wealth-inequality\/","url_meta":{"origin":53039,"position":0},"title":"Inheritance tax: can it be the answer to wealth inequality?","date":"April 28, 2018","format":false,"excerpt":"\r Reports say we should use it to redistribute between generations \u2013 could we ever grow to love it?It is Britain\u2019s most hated tax, yet hardly anyone pays it. Until recently, this paradox appeared to make raising more money from inheritance tax a no-go zone. Yet leading thinktanks are now\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100700,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/inheritance-helps-fuel-rise-in-inequality\/","url_meta":{"origin":53039,"position":1},"title":"Inheritance helps fuel rise in inequality","date":"October 31, 2018","format":false,"excerpt":"\r ONS data show oldest and wealthiest in society are likely to inherit the largest sums\r \r Source : ft.com\r Read more...Inheritance helps fuel rise in inequality","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":52576,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-feeds-the-roots-of-inequality-in-britain-inheritance-will-entrench-it-ian-jack\/","url_meta":{"origin":53039,"position":2},"title":"Property feeds the roots of inequality in Britain. Inheritance will entrench it | Ian Jack","date":"April 22, 2017","format":false,"excerpt":"\r The homes passed on from this fortunate generation to the next will determine who is rich and who is poor in years to comeWhat did our grandparents leave us? That will depend on who they were and what they possessed, but in my case, not untypical of my generation,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":39711,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-rise-in-inherited-wealth-likely-to-widen-inequality-gap\/","url_meta":{"origin":53039,"position":3},"title":"UK rise in inherited wealth likely to widen inequality gap","date":"January 5, 2017","format":false,"excerpt":"\r A glut of inherited wealth from a decades-long house-price boom is set to worsen inequality in the United Kingdom, according to the Institute for Fiscal Studies.Young people today are more likely to receive an inheritance than earlier generations, and those that receive the biggest ones are already the most\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":75475,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/millennials-set-to-reap-huge-rewards-of-inheritance-boom\/","url_meta":{"origin":53039,"position":4},"title":"Millennials set to reap huge rewards of inheritance boom","date":"December 30, 2017","format":false,"excerpt":"\r Thinktank: younger generation will profit from high value homes owned by baby boomer parents \u2013 but not till they\u2019re 60 An unprecedented inheritance boom is heading the way of today\u2019s younger generation. But it will result in higher wealth inequality and will arrive too late for most people currently\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":144999,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-some-inheritance-regimes-are-more-unequal-than-others\/","url_meta":{"origin":53039,"position":5},"title":"Why some inheritance regimes are more unequal than others","date":"June 8, 2024","format":false,"excerpt":"\r Wealth matters, but its effects on long-term growth can be surprisingly complicated, new research findsWealth is a big deal: household wealth in Britain has surged in recent decades to over \u00a315tn. And it\u2019s unequal, with wealth inequality twice as high as income inequality.This matters. What wealth you can inherit,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/53039"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=53039"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/53039\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=53039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=53039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=53039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}