Tuesday, July 25, 2006

A fat profit on your home is not a human right

Monopoly houses"It is remarkable how taxes related to property acquisition and inheritance provoke such moral outrage in middle-class circles. Uncomplainingly, we hand over 17.5 per cent in VAT every time we buy a car, a pair of trousers or eat a hot dinner in a pub; yet we scream blue murder when asked to pay a mere 1 per cent stamp duty on a £200,000 flat. Nothing, it seems, must be allowed to get between a British homeowner and his human right to make a fat, tax-free profit on his house — and, for that matter, on his granny’s house." —Ross Clark

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