in the spring of 2020 the UK wealth tax commission was first instructed to look in to the possibility of raiding the equity in a one-off wealth tax they looked at initially raiding the property of everyone with assets over 2 million but in the video that I will show you in a few minutes they also give an example if they were to raid everybody’s Equity with over a million with a one-off wealth tax of five percent. Bearing in mind that who they go for and

how much they take and whether it is a one-off or if it is repeated could change at any time. What’s really worrying, is that this has been out there for two and a half years now and hasn’t really been discussed, it certainly hasn’t been covered by the mainstream media, what a surprise that is, but this is a really really worrying step. Some of you who live up north, or just have one property that’s not worth anywhere near a million or two million, are maybe thinking well yes why not, but a million is not really as much money as it may sound and as you’ll see when you watch the video they will be taking a significant amount of equity from people who literally have done nothing to deserve it, apart from being successful. As always, it will be a certain portion of the population who will suffer this and as always I have no doubt that a certain portion of the population will know in advance exactly

what to do to avoid it.

This is a very very dangerous precedent, because as we know over the last decade or two, incremental changes by the government, even though they may have appeared to have been an effort to help young people get on the property ladder, in reality they have done the complete opposite. Most young people now who are graduates with £50 or £60 000 pounds worth of student loans, they need massive deposits to be able to buy property, they have to fit into a strict affordability criteria and even though now the property Market is calming and falling in many places, although by how much is fluid, that changes on a day-to-day basis, although I do believe that we will see significant falls in many places, that doesn’t make it any easier for them because what they’ve gained on the fall in price of property, they’re losing on the affordability, because the interest rates have gone up and the mortgage deals are roughly triple what they were just a few months ago, so effectively over the last decade or two, the government has blocked the inflow of young people into the property Market.

Under George Osborne’s budget in 2016 he introduced the three percent stamp Duty surcharge on additional properties but that is not just affecting buy to let landlords, that also affects all the small developers who want to buy a rundown or derelict property renovate it and then rent it or sell it on. Now in the last budget they have also reduced the capital gains tax allowance, from over £12 000 to £6 000 in April 23, and then down to three thousand from April 24. Once again maybe that small allowance may be insignificant to the large developers, but to the individual small Developers the extra three percent plus the loss of the capital gains tax is doing nothing to encourage small developers to renovate all of the hundreds of thousands of derelict or unfit for use properties throughout the country that could be available to first-time buyers or to renters. So in actual fact they have placed obstacles in front of people at the bottom but they have made it easier for people at the top because lo and behold George Osborne’s stamp Duty surcharge actually doesn’t apply if you are buying six units or more in one transaction, so despite the narrative it’s not the individual landlords who have been a threat because the average landlord in this country doesn’t own many properties. The actual figures are over half 55 % buy-to-let landlords own just one property and 36 percent own two to three properties, so who owns the rest? It is the corporations who are quietly and efficiently and rapidly buying up the property stock whilst simultaneously making it difficult for young people to get on the ladder.

It doesn’t take much to figure out where we will be in a decade or two. In the meantime I’d like you to watch this video:

Pretty shocking isn’t it? What worries me, is if you go to the website ukwealth.tax the full report is on the website and if you go down if you download the full report and go to the very end they also mention repeating this so-called wealth tax and yes they do give arguments against it, but not very strong arguments. It’s out there now though and it has been out there for two and a half years, it’s not been discussed but when they decide to refer to it

they will be able to say it has been out there for two, three, four, five years already and the consensus is that the public support it. Nothing of the sort! “e must bear in mind when the government raids the equity of the wealthy and these people will invariably be just the older people who happen to live in an expensive property, the corporations won’t be touched because they won’t touch properties that are part of Corporations they won’t touch

the so-called housing associations which are little more than corporations buying the housing stock in disguise and yes, they do rent them out for a bit less, but that’s in return for grants and all sorts of benefits that they get from the government in disguise. So this is a very, very sinister step and I’m actually shocked that people are not kicking up about it. If we are going to do anything collectively then we need to think collectively and not allow ourselves to be divided by resenting those who succeed or resenting success. We must celebrate success and aspire to succeed, but at the same time, those who have succeeded must learn not to pull up the ladder, but rather to extend their hand down and help those who are just starting out to get on the ladder.

I’d love to hear your thoughts on this matter and I’ll post a link to the full article below and I’ll see you in the next video.