Labour Minister Opens Door to Punishing Rental Tax – Guido Fawkes

LISTEN: Labour Minister Opens Door to Punishing Rental Tax

A minister has left the door open to an extension of National Insurance to rental income this morning. Torsten Bell is already making his position as the budget’s new architect felt…

The idea, which some predict could raise a couple of billion pounds, is a pet project of the Resolution Foundation when it was run by Bell. The Treasury briefed the plans to the Times last night…

It would constitute another violation of Labour’s pre-election pledge not to hike NI taxation. Early years minister Stephen Morgan said on Times Radio this morning:

• “It’s not appropriate for me to comment on ongoing speculation. It’s really important that we focus on the budget and make sure it delivers for working people around the country.”

Combined with Starmer’s post-election insistence that any landlords don’t count as “working people” that is an implication from Morgan. Last month the total rental properties coming onto the UK market dropped sharply for the 11th straight month. Low supply and static demand plus even higher tax burden = no more houses to rent…