Jeremy Corbyn’s Labour Party have unveiled a raft of new policy ideas designed to solve the housing crisis and make the economy fairer for the least well off – plans which include abolishing Council Tax entirely and replacing it with a “progressive property tax” to be paid only by asset-rich homeowners.
The policy paper, entitled ‘Land For The Many‘, has been co-authored by a host of progressive luminaries including Guardian journalist George Monbiot, and outlines 9 multifaceted policy recommendations which could be implemented by a future Jeremy Corbyn-led Labour government.
The most eye-catching of the proposals is a plan to replace Council Tax with a “Progressive Property Tax” levied only on homeowners – meaning that private renters and low earners unable to get on the housing ladder would be completely freed from the burden of Council Tax.
The policy paper recommends that the new tax should be “based on contemporary property values“. and would only be “payable by owners, not tenants“, adding that the new system would: