Properties located in rural areas such as the Lake District could fall under the new levy GETTYLabour plans to tax holiday homes to raise £500m for families living in temporary accommodation, targeting properties in some of the most desirable parts of the country. John Healey, the shadow housing secretary, will announce the new tax proposals at the party’s conference in Liverpool. He said the plan would “put a brake on the growing gap between Britain’s housing ‘haves’ and ‘have-nots’”. The tax would be based on a property’s value and be “equivalent to double the current rate of council tax” with an average cost of £3,200, a Labour spokesman said. Up to 174,000 properties, many located in rural areas such as Cornwall, north Norfolk and much of the Lake District, might fall under the new levy which could raise up to £560m.

Source: The Times September 22, 2018 23:48 UTC