Peter Forrest, Conservative GLA Candidate for Enfield-Haringey, today warned that home owners in Enfield & Haringey faced even higher taxes, following calls from Labour’s favourite think tank for higher council tax, higher stamp duty and higher inheritance tax. Many past proposals advanced by the Institute for Public Policy Research (IPPR) were implemented by the Government in the last Parliament, and the organisation has been described by Tony Blair as having ‘led thinking on the centre-left’. The Institute’s director is also the Labour Party’s former head of policy.

The proposals include (i) ‘introducing higher tiers of council tax on more expensive properties’; (ii) ‘levying full rates of council tax on all second homes’; (iii) extending inheritance tax to all houses; and (iv) higher levels of stamp duty ‘to regulate the levels of house purchases and sales’.

Peter Forrest explained:

“Tony Blair’s favourite think tank is flying kites for Labour, paving the way for even higher taxes on home owners in Enfield & Haringey. Since 1997, the typical buyer in Enfield & Haringey  is already paying £1,254 more in stamp duty and residents are charged £371 (Haringey)/£485 (Enfield) a year more in Band D council tax, yet we have not seen improvements in public services to match.

Abolishing thresholds for inheritance tax would mean someone inheriting the typical home in Enfield & Haringey would be taxed a staggering £87,362 extra. It would hit first time buyers who are relying on legacies to get on the first rung of the property ladder. It would seem Labour are intent on turning the property market into a real life game of snakes and ladders –  where first time buyers always slide back to zero, with every new generation having to start from scratch.”

ENDS.

Notes:

The proposals from the IPPR were announced on 27 August 2003. Source: http://www.ippr.org/press/index.php?release=246

Tony Blair has previously remarked, “the IPPR has led thinking on the centre-left” (source: http://www.ippr.org.uk/about/)

The Guardian has noted, “During Labour's first term, IPPR saw many other policy ideas embraced by government - including proposals for green tax reform, the Human Rights Act, communications regulation and social housing.” (source: http://politics.guardian.co.uk/thinktanks/page/0,10538,509414,00.html)

The IPPR’s Director, Matthew Taylor, is a former Director of Policy and also Assistant General Secretary of the Labour Party (source: http://www.ippr.org/about/index.php?current=staff)