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....“In the present climate, people just don’t have the money to restore them,” says Irini Gratsia, co-founder of Monumenta, the association of archaeologists and architects that is collating the database. “There is a great danger that many will be demolished not because their owners want new builds, but because they want to avoid property taxes announced since the crisis began. ... [Read full article on Guardian ]
Tuesday 12th of September 2017 06:30:28 AM
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Latest Finance News related to Property Tax

Forget the Parthenon: how austerity is laying waste to Athens' modern heritage image
....“In the present climate, people just don’t have the money to restore them,” says Irini Gratsia, co-founder of Monumenta, the association of archaeologists and architects that is collating the database. “There is a great danger that many will be demolished not because their owners want new builds, but because they want to avoid property taxes announced since the crisis began. ...
Pensioners moving to smaller homes should NOT have to pay Stamp Duty, Hammond told image
...."This hurts people at every stage of life and has slowed the housing market in the UK, greatly damaging the economy. "Brits are struggling under the heaviest tax burden in 30 years, and this is in part because the UK has the highest property taxes in the developed world. ...
Why the political uncertainty won't shake house price foundations   image
Source : Daily Express [Read Article] Sunday 18th of June 2017 09:46:00 AM
.... The prime suspect is Chancellor George Osborne, whose tax assault on foreign property buyers and domestic investors has hit demand in the capital. Taimur Khan, senior analyst at Knight Frank, says politicians have made more than 20 changes to property taxation, either direct or indirect, since 2010. ...
House sales in Greater London slump by almost a third in a year image
Source : Guardian [Read Article] Monday 12th of June 2017 06:01:18 AM
....The latest monthly index from estate agents Your Move found that in the three months to the end of April, sales in Greater London were down 29% on the same period in 2016. Much of the decline follows a government overhaul of property taxes that spurred landlords and other second-home buyers to rush through deals in March. ...
UK house prices fall for third month in a row for first time since financial crisis image
....Samuel Tombs, chief UK economist at Pantheon Macroeconomics, agreed. “Prices have been unaffected by previous elections and, unlike in 2015, none of the major parties plans to increase property taxation. ...
Small firms hit by rates relief delay image
Source : BBC [Read Article] Monday 29th of May 2017 11:14:13 PM
.... . Business rates are a property tax based on rental values. ...
Tax on test: do Britons pay more than most? image
Source : Guardian [Read Article] Saturday 27th of May 2017 06:00:20 AM
.... We converted euros, dollars and krona into sterling at a time when the pound had fallen rapidly; some earnings might have translated into higher tax bands abroad before sterling plunged. Some countries, such as the US, raise relatively large revenues from property taxes. ...
$6.40 an hour for nine years: how I got stuck in a career as a Walmart employee image
.... He grew up on a nearby ranch and never went to college. His parents died decades ago and left him with crippling property taxes and mortgages on the family property. ...
Weak pound melts the British dream of a place in the sun image
Source : Guardian [Read Article] Friday 28th of April 2017 04:03:49 PM
....A report by Spain’s Association of Land and Commercial Registrars last week revealed British demand for second homes in Spain was down nearly 30% on last year’s pre-referendum levels. In Greece, where property taxes have soared amid the debt-stricken economy and there are lingering fears that the country could yet be ejected from the eurozone, estate agents on some of the more popular Greek islands are reporting an even bigger plunge in the number of Britons looking for homes since the Brexit vote. ...
The Guardian view on house prices: the government lacks the political will to fix the broken market | Editorial image
.... They could then sell land on to developers who commit to building affordable housing of better quality for quick release. This should be accompanied by tax reform – council tax is a hugely regressive property tax based on property values from 1990 – and stronger rights for tenants in the private rented sector, including caps on rent rises and longer-term minimum tenancies of at least five years. ...
Landlord tax: How to beat new buy-to-let charges coming in NEXT month  image
Source : Daily Express [Read Article] Friday 10th of March 2017 04:44:00 PM
....The platforms allow investors can now put up money for mortgages and property loans in return for interest and the investments can also be placed in flexible ISAs. As well as generating top returns of around five per cent, this method also allows investors aren't faced with the prospect of difficult tenants or changes to property tax. ...
Hammond seems to be expecting business rates storm to just blow over image
Source : Guardian [Read Article] Wednesday 8th of March 2017 07:42:51 PM
....How much does it cost to make the quarrel over business rates disappear? The answer, Philip Hammond hopes, is £435m. The figure is the extra relief the chancellor has provided to remove the sharpest edges from a property tax that should have been declared outdated and artless at least a decade ago. ...
Budget: UK Plc gives its verdict image
Source : BBC [Read Article] Wednesday 8th of March 2017 04:07:53 PM
.... £435m is a drop in the ocean compared with the £25bn a year that the tax raises. "This is yet another sticking plaster on a chronically ill patient - an unsustainable property tax higher here than anywhere in the developed world. ...
Business chiefs tell chancellor: reform business rates now to avert high street crisis image
....Adam Marshall, director-general of the BCC, said: “Rising business concerns demonstrate the urgent need for action on business rates in the budget this week. The UK had the highest business property taxes in the developed world even before the recent revaluation – hammering firms with sky-high costs before they turn over a single pound. ...
German budget surplus highest since 1990 image
Source : BBC [Read Article] Thursday 23rd of February 2017 02:29:14 PM
.... . The office said the main factors improving revenues were the large increase in income tax and property tax payments as well as the "good employment situation", which led to a "considerable growth" in social contributions. ...
Small shops recoil in the face of business rates that will more than double image
Source : Guardian [Read Article] Saturday 18th of February 2017 04:00:05 PM
....“The significance of what is happening in April is now dawning,” says Helen Dickinson, director general of the British Retail Consortium. “The basic problem is that the burden of the property tax is way higher than it is in other countries. ...
Government urged to stop property tax hikes for 1,249 NHS hospitals image
Source : Guardian [Read Article] Wednesday 15th of February 2017 06:37:31 PM
....The government is under growing pressure to stop a sharp increase in business rates for hospitals that threatens to increase the strain on the NHS. Changes to the business rates system mean that the 1,249 NHS hospitals liable for the property tax will see their bills increasing by £322m, or 21%, over the next five years from April. ...
The high street is already under threat and now this... | Lucy Siegle image
Source : Guardian [Read Article] Sunday 5th of February 2017 12:05:44 AM
....But the revaluation works for the online retail giants. According to CVS analysis, the nine Amazon distribution centres in England and Wales will be able to knock £148,000 off their property tax liabilities this year (despite annual sales in excess of £6bn). ...
Inheritance tax is toxic. We need new ways to tackle inequality | Polly Toynbee image
.... Today’s IFS report shows it is set on another upward trajectory. We could have fair property taxes: homes are not taxed, and yet that is where all this burgeoning wealth comes from. ...
Portugal homes with sea views face higher tax to improve fiscal outlook image
Source : Guardian [Read Article] Tuesday 20th of December 2016 01:39:41 AM
. People buying a home in Portugal that has unspoilt sea views or faces the sun may be hit by a 20% increase in property tax, under fiercely contested fiscal changes which became law on Monday. ...
How a healthy buy-to-let profit could soon become a painful loss image
Source : Guardian [Read Article] Saturday 10th of December 2016 07:00:07 AM
.... Meanwhile the Residential Landlords Association said 40% of its members had considered changing their status, but that 80% of those had decided it was not the best thing to do. Michael Wright, director at property tax specialist RITA4Rent, said his firm had seen a large number of landlords asking for advice on whether to hold their properties in a limited company rather than in their own name. ...
Devolution lessons image
Source : BBC [Read Article] Tuesday 22nd of November 2016 07:06:23 AM
.... . One of the key tools at its disposal is tax - it gets to decide how to spend some business and property taxes - both pots of money currently denied to the mayor of London. ...
Barratt Developments says demand for new homes 'strong' image
Source : BBC [Read Article] Wednesday 16th of November 2016 08:38:57 AM
....The news comes on the day that a report said first-time buyers need more help to stop a decline in home ownership. Average prices have fallen in central London because of an increase in stamp duty property tax and the uncertainty created by the June 23 EU referendum. ...
Sales of luxury London properties collapsed by 86% in past year image
Source : Guardian [Read Article] Monday 17th of October 2016 12:43:40 PM
....3m, said property group London Central Portfolio, which carried out the analysis. It blamed increasing property taxes, such as the sharp hike in stamp duty and new obligations on non-dom foreign buyers, rather than Brexit, for the decline in prices and activity. ...
Firms brace for 'largest rates change' image
Source : BBC [Read Article] Friday 30th of September 2016 01:46:15 AM
.... in a generation". Business rates are a property tax, based on rental values, and are a significant cost for many small businesses. ...
London housing: why Hong Kong cash in Colindale is not all bad image
Source : Guardian [Read Article] Monday 5th of September 2016 09:59:16 AM
.... This has provided opportunities for people like Boris Johnson to teasingly suggest that they are being xenophobic and, more importantly, has demonstrated a regrettable readiness to seek easy culprits for complicated problems. A BBC TV report on the combined effects of Brexit and changes in property tax on London’s housing market may give this tendency fresh impetus. ...
Can you still afford to buy a property overseas? image
Source : Daily Express [Read Article] Sunday 4th of September 2016 12:01:00 AM
....“Calculate the full cost of buying to avoid nasty surprises. In parts of Europe you must add 10 to 15 per cent to cover mortgage and legal fees, foreign stamp duty and local government and property taxes. ...
Foreign home buyers face new tax in Vancouver area image
Source : BBC [Read Article] Tuesday 2nd of August 2016 04:42:57 PM
. A 15% property tax on foreign home buyers in the Canadian city of Vancouver has taken effect in an effort to create more affordable housing. ...
UK economy increasingly reliant on London tax, report finds image
Source : BBC [Read Article] Thursday 7th of July 2016 09:38:10 AM
....It suggests any slowdown in London's economy following the vote to leave the EU would pose major challenges to both the capital and other parts of the country. Centre for Cities research is based on revenue from "economy taxes" which account for 88% of all taxation and include income tax, land and property taxes, and VAT. ...
London pays almost a third of UK tax, report finds image
Source : Guardian [Read Article] Wednesday 6th of July 2016 11:01:28 PM
....”. Economy taxes are tied to economic growth, the report said, and include income tax and national insurance contributions, VAT, land and property taxes, corporation tax, capital gains tax, inheritance tax and stamp duty on shares. ...
Spain opens the door for UK holiday home buyers to reclaim lost money image
....For anyone hoping to buy a holiday home in Spain, the vote to leave the European Union has raised uncertainties about the future and whether they will retain the ability to live and work - as well as own a property - in an EU country. New arrivals could face stricter residency requirements, while existing expats could face new administrative arrangements, possibly including residency and work permits, or higher property taxes. ...
Greece pushes fresh austerity drive through parliament image
Source : Guardian [Read Article] Sunday 22nd of May 2016 08:16:31 PM
....Related: The choice for Europe: rescue Greece or create a failed state | Paul Mason. “We are talking about indirect taxes, property taxes and income taxes all going up,” Asimakopoulou said. ...
How to BEAT George Osborne's new landlord tax and invest in buy-to-let image
Source : Daily Express [Read Article] Monday 18th of April 2016 09:44:00 AM
.... Advocates argue that as well as generating top returns of around five per cent, this method allows investors to cut out many of the worst aspects of being a landlord. For example, you don't have to deal with difficult tenants or changes to property tax. ...
HOUSING SHOCK: Top London house prices take huge hit as capital's market CRUMBLES image
. Asking prices for homes in exclusive areas of London plunged last month, as sellers raced to secure deals before a new property tax took effect in April, said Knight Frank. ...
George Osborne has failed to deliver the business rates revolution image
Source : Guardian [Read Article] Thursday 31st of March 2016 08:42:39 AM
.... Local business rates are the most effective means of ensuring a fair and consistent contribution; the VAT change will not deliver the same effect. What many were calling for was a rapid and radical rebalancing of rates as a general business tax – as opposed to a property tax – to spread the burden more proportionately. ...
Source : Reuters [Read Article] Monday 21st of March 2016 07:20:37 AM
. The average asking price for a home in England and Wales passed 300,000 pounds for the first time in March, property website Rightmove said on Monday, as buyers rushed to beat a property tax rise which comes into force next month. ...
City News: Fastjet, Amazon, HSBC and Berkeley Group image
Source : Daily Express [Read Article] Saturday 19th of March 2016 03:23:00 PM
....The FTSE 100 builder, which focuses on London and the South-east, said reservations for new homes were 4 per cent down on the previous year. It cited “complex and sometimes conflicting policies around planning and affordable housing, competing demands on limited and reducing public sector resources and one of the world’s highest property taxation regimes” as potential stumbling blocks. ...
Stamp duty weighing on luxury housing market, says Berkeley image
Source : Guardian [Read Article] Friday 18th of March 2016 12:32:26 PM
.... It sold 62 homes worth more than £2m each, a similar number to a year earlier, when the market slowed in the run-up to the general election. Berkeley warned that Britain’s housing supply could be hit by what it called “one of the world’s highest property taxation regimes” along with planning issues, pointing to “sometimes conflicting policies”. ...
FTSE heads for 2016 high but Randgold and Fresnillo fall image
Source : Guardian [Read Article] Friday 18th of March 2016 09:55:30 AM
....Also among the fallers is Berkeley, down 62p at £31. 95 as the housebuilder said profits would be at the top end of expectations this year but warned housing supply could be hit by planning issues, reducing public sector resources and “one of the world’s highest property taxation regimes. ...
Retailers complain that Osborne has not done enough to help high streets image
Source : Guardian [Read Article] Wednesday 16th of March 2016 07:56:15 PM
....George Osborne announced in the budget that 600,000 small businesses would no longer have to pay business rates and that he would change how the levy was calculated for those who still had to pay it. Retailers have led the calls for business rates to be revamped, claiming that thousands of high street jobs are being put at risk by the outdated property tax and that it hands an unfair advantage to online rivals. ...
Source : Reuters [Read Article] Thursday 10th of March 2016 07:20:23 AM
....CPIH does not measure house prices or mortgage payments, but instead estimates how much a home-owner would pay to rent their own home. It will also be expanded from its current form to include council tax, a local property tax. ...
It’s time to raise inheritance tax – not probate fees image
Source : Guardian [Read Article] Saturday 27th of February 2016 07:00:02 AM
....It’s troubling that the government reckons the fee for a basic government service should be based on the individual’s wealth, rather than what it actually costs to provide that service. The deeper problem is that the government has painted itself into a corner over property taxes, and is using probate as a stealth way to increase revenue. ...
Asia tops priciest office rent survey image
Source : BBC [Read Article] Wednesday 24th of February 2016 11:44:19 AM
....". The report examined 24 global cities and occupancy costs including rent, service charges and property tax. ...
Business rates set to deliver record-breaking £23.5bn to council coffers next year image
.... . Business rates expert Paul Turner-Mitchell said: "When businesses in England pay the highest level of property taxes of any G7 nation, EU or OECD country and the level of business rates are stifling investment, particularly from overseas, it beggars belief the government want to brag about record rates income. ...
'Buying our family home will cost £7,500 extra thanks to tax aimed at tycoons'  image
. Consultation ended last week on another of George Osborne’s controversial property taxes: the decision to make buyers of additional properties – typically buy-to-let investments or holiday homes – pay a surcharge of an additional 3pc on top of the standard stamp duty rates. ...
Source : Reuters [Read Article] Friday 5th of February 2016 10:02:48 AM
....But oil has lost nearly two thirds of its value since mid 2014, the Russian rouble has more than halved and Chinese growth is slowing. The scale of this wealth destruction combined with property tax rises in London has prompted investors to pause, estate agents said. ...
Levy on luxury London homes would net £86m a year for social housing image
Source : Guardian [Read Article] Saturday 30th of January 2016 12:00:25 PM
. The government could raise more than £86m a year for social and affordable housing by imposing a premium property tax on luxury London homes bought by the global super-rich, researchers have calculated. ...
Source : Reuters [Read Article] Wednesday 27th of January 2016 08:10:39 AM
. Britain will raise the level of property tax for those who buy a house in order to rent it and on second homes, finance minister George Osborne said in November, as part of plans to cut government spending and raise revenues. ...
What is the Budget, and when will George Osborne deliver it? image
Source : Telegraph [Read Article] Tuesday 26th of January 2016 01:55:04 PM
.... There is also the matter of the upcoming review on business rates, the findings of which will accompany the Budget. Business rates are an unpopular form of property taxation, which hit landowners. ...
Which holiday property tribe do you belong to? image
Source : Telegraph [Read Article] Friday 22nd of January 2016 05:00:12 AM
.... . City properties tend be more expensive than rural comparables (and with higher property taxes) yet they can attract the best holiday rentals – Barcelona, Amsterdam, Paris and Rome are the city hotshots according to TripAdvisor Vacation Rentals. ...
Dose of realism by Osborne, but risks lie closer to home image
Source : Telegraph [Read Article] Saturday 9th of January 2016 04:04:54 PM
.... The Autumn Statement, while politically shrewd, was a lesson in hope over experience. The money the Chancellor appeared to conjure out of the air, to much acclaim, at the Commons Dispatch Box was based almost entirely on higher growth assumptions, counterproductive rises in business and property taxation and a £27bn accounting windfall over the next three years. ...
$100,000 and up is not enough – even the 'rich' live paycheck to paycheck image
....5% 30 year loan, that’s $2,033 a month. Add in another $600 or so per month for property taxes, and another $400 for dues, utilities and insurance, and you are paying about $3,000 to live in a ONE BEDROOM in SF! If you earn $100,000 a year, then you are paying 36% of your gross income for housing. ...
Gentrification fears loom over rise in east London 'property millionaires' image
Source : Guardian [Read Article] Thursday 17th of December 2015 12:01:03 AM
....Related: London house prices most overvalued in the world, says UBS. Scotland is the only region where there are now fewer property millionaires than there were in January – which may reflect the impact that a new Scottish property tax introduced in April has had on the upper end of the market. ...
Local authorities should have greater tax-raising powers, says thinktank image
Source : Guardian [Read Article] Tuesday 15th of December 2015 12:01:24 AM
....It said that most other countries allowed local authorities and regions to have more tax-raising powers than UK councils, including in France and the US. Local taxes in the US include property taxes, sales taxes,taxes on hotel room occupancy, commercial rents and alcohol sales. ...
Thousands of London flats to come back on to the market, estate agent says image
Source : Guardian [Read Article] Monday 14th of December 2015 06:54:25 PM
....In their latest monthly report, researchers at Knight Frank said they believed the latest changes to stamp duty would not have a big impact on the market. London “was in the middle of the pack compared to other major global cities in relation to prime property tax and holding costs”, it said, and the changes “appear unlikely to alter this position materially”. ...
Fergus Wilson, Britain's most iconic buy-to-let investor, sells up all 900 houses for £250m image
.... In his Summer Budget, George Osborne announced that landlords will no longer be able to deduct the cost of their mortgage interest from their rental income when they calculate a profit on which to pay tax, with the new rules being phased in between 2017 and 2020. The measures were, he said, designed to address "unfairnesses in property taxation". ...
Chairman of Berkeley Homes warns of dangers of Osborne's buy-to-let tax image
Source : Telegraph [Read Article] Friday 4th of December 2015 09:44:02 AM
. The chairman of housebuilder Berkeley Group has warned how changes to property tax announced in the Chancellor's Autumn Statement will not resolve the level of housebuilding required to meet crippling demand. ...
Brewin Dolphin shrugs off threat of robo-advisers as it looks to grow financial advice business image
.... . Recent pension reforms and property tax hikes should act as tailwinds for organic growth in the wealth management business, said Mr Nicol. ...
Fury over Osborne's £11.6bn business 'payroll tax' image
Source : Guardian [Read Article] Thursday 26th of November 2015 06:00:08 AM
.... However, discounts on rates for high street businesses was not extended, meaning small shops, pubs, cafes and restaurants face a sharp increase in their bill next year. Paul Turner-Mitchell, a business rates expert, said the autumn statement had been “terrible” for retailers, with increasing signs that a review of the commercial property tax would prove a damp squib. ...
Osborne defends Spending Review U-turn image
Source : BBC [Read Article] Thursday 26th of November 2015 03:20:43 AM
....5bn and Mr Osborne pushed ahead with £12bn cuts to welfare, including a fresh squeeze on housing benefit. He also paved the way for council tax rises by allowing councils to levy 2% on bills to pay for social care and introduced a new tax on business to pay for apprenticeships and new property taxes on buy-to-let landlords. ...
Autumn statement 2015: Buy-to-let landlords sacrificed again with 3pc stamp duty hike to 'help first time buyers' image
.... The additional stamp duty will not apply to caravans, mobile homes or houseboats. Mr Osborne said the property tax would raise almost £1bn by 2021, which will help fund the construction of new homes. ...
Source : Reuters [Read Article] Wednesday 25th of November 2015 02:05:03 PM
. Britain will raise the level of a property tax for those who buy a house in order to rent it and on second homes, Chancellor George Osborne said on Wednesday, as part of plans to cut government spending and raise revenues. ...
Housebuilders lead FTSE 100 higher image
Source : BBC [Read Article] Wednesday 25th of November 2015 08:51:43 AM
....Housing companies soared on the news that the UK chancellor planned to double the housing budget. But their shares then fell back as he also announced plans to raise some property taxes. ...
Everything we hold dear is being cut to the bone. Weep for our country | Will Hutton image
.... but this is necessary to serve the greater cause of debt reduction. To reduce the stock of the public debt to below 80% of GDP and not pay a penny more in income or property tax, let alone higher taxes on pollution, sugar, petrol or alcohol, is now our collective national purpose. ...
Businesses barred from justice in 'unfair' rates appeal regime image
Source : Telegraph [Read Article] Tuesday 17th of November 2015 09:00:22 AM
.... . “The review of business rates should aim to create a fairer, simpler and more competitive commercial property tax system," a CBI spokesman said. ...
Why millennials should stick to renting and ignore advice to buy a home image
Source : Guardian [Read Article] Sunday 15th of November 2015 12:00:00 PM
....But the costs of home ownership don’t stop with the mortgage. Remember, you’ll also need money to pay property taxes, and the bank that gives you your mortgage will want proof that you’ve got an insurance policy on your new home. ...
Five Tory tax changes that target the rich image
Source : Telegraph [Read Article] Friday 6th of November 2015 06:24:08 PM
.... • Dividend tax change: a simple case of double taxation . In its piecemeal rejigging of property taxation, the Tories have again hit the wealthy. ...
Financial Talking Points: Is Greece's financial turmoil over? image
Source : Telegraph [Read Article] Monday 2nd of November 2015 07:00:21 AM
.... So far, the newly-elected government of prime minister Alexis Tsipras has managed to pass a raft of "prior action" bills through parliament. They include imposing penalties on early retirement, paving the way for a bank recapitalisation, and introducing a controversial property tax. ...
Source : Reuters [Read Article] Thursday 22nd of October 2015 06:46:50 AM
. British estate agent Foxtons said on Thursday that the number of sales in the prime central London property market was taking time to recover due to price rises and increases in a property tax. ...
Top accounting body: 'buy-to-let tax is unfair, unreasonable, unworkable' image
Source : Telegraph [Read Article] Friday 16th of October 2015 09:47:26 AM
.... The Institute's technical manager Anita Monteith said: "It's very confusing legislation and not thought-through. There needs to be a holistic review of property taxation, looking at how property is taxed from a capital and income point of view. ...
Inequality is the great concern of our age. So why do we tolerate rapacious, unjust tax havens? | Gabriel Zucman image
.... This misses three things. First, the taxes avoided by big companies have to be compensated for by higher taxes for the rest of us – higher income taxes on the middle classes and higher sales or property taxes for everyone, unless we cut spending on education, health and infrastructure. ...
Treasury reining in 'radical' business rates review, say retailers image
Source : Guardian [Read Article] Monday 28th of September 2015 01:20:57 PM
....George Osborne pledged last year to review business rates and announced the findings before the 2016 budget. The controversial property tax brings in more than £25bn a year for the Treasury but retailers claim it is damaging high streets and is linked to outdated property valuations rather than economic output. ...
Gender pay gap and lack of access to education driving UK inequality image
Source : Guardian [Read Article] Monday 7th of September 2015 02:00:04 AM
....The Forum describes its two-year study into the performance of 112 economies as a bid to broaden that debate about inequality beyond merely observing symptoms to instead finding specific ways to change policies and institutions in order to improve living standards. Its benchmarks for countries range from trade union membership to property taxes. ...
UK housing market 'dysfunctional' image
Source : BBC [Read Article] Thursday 3rd of September 2015 02:20:34 PM
....At that time, many people were facing negative equity and the stock of homes was much smaller, he said. Reforming areas such as property tax would help, Mr Pannell said, alongside building more properties. ...
Revealed: the widening gulf between salaries and house prices image
Source : Guardian [Read Article] Wednesday 2nd of September 2015 10:43:50 AM
.... A lot of us are going to be spending our lives renting and we need to be thinking about the implications for children growing up in private rentals and how on earth we pay the rent when we retire, which no one is talking about. “It’s an unsustainable setup we’ve got, if we don’t deal with problems now – the lack of supply, lack of mortgage controls and lack of property tax reform – we’re going to sleepwalk into these problems,” he said. ...
Yanis Varoufakis: bailout deal allows Greek oligarchs to maintain grip image
Source : Guardian [Read Article] Monday 17th of August 2015 03:19:50 PM
....Varoufakis said the deal was flawed in many ways as he picked his way through the memorandum. For instance, property taxes based on out-of-date and inflated values would hit ordinary households; that a reliance on expensive advisers and consultants would deny the health service vital cash; and a reduction in investment funding by Brussels would stifle the recovery. ...

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