Tuesday 17 September 2013

Reader's Letter Of The Day

From today's Evening Standard:

SOMETHING missing from the Lib Dems' case for higher property taxes is a comparison between London and other global cities.

New York City does not have a cap as there is with Band H and as a result some property owners willingly pay bills of hundreds of thousands of dollars a year. Forty three per cent ofhte city's revenue comes from property taxes.

Similar arrangements exist in Hong Kong and Singapore.

High taxes on labour and business are far more damaging to Londoners than those on property. The challenge is to sell any new tax as a replacement rather than a new one. Stamp Duty is an ideal candidate to scrap.

Joe Momberg, N3.

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