The Welsh Government

[Divine Wright]

do they actually do anything positive ever? They are currently stifling the Welsh property market with their Land Transaction Tax when compared to what Parliament legislates for SDLT. The differences can be quite staggering.

And in case you didn't know, property prices are what support small and medium size business lending, thus fuelling the economy. Once again the Welsh Government are asleep at the wheel.

Taken from the government's website....

"The tax collected is used to support public services in Wales."

Sounds good to me. Better public transport. Better hospitals.

You pay this tax when you lease a building or land over 150K or 250K.

Compared to a minimum wager who works in Morrisons, you've probably got to be pretty well off to be able to lease property out.

I'm all for it.

https://gov.wales/land-transaction-tax-guide

[Feedback]

Taken from the government's website....

"The tax collected is used to support public services in Wales."

Sounds good to me. Better public transport. Better hospitals.

You pay this tax when you lease a building or land over 150K or 250K.

Compared to a minimum wager who works in Morrisons, you've probably got to be pretty well off to be able to lease property out.

I'm all for it.

https://gov.wales/land-transaction-tax-guide

firstly, the WG block grant has reduced as a result of The WRS now being responsible for collecting LTT. Therefore it does not automatically follow that we will see an increase in revenues to spend on public services. Secondly, and perhaps more importantly, the Welsh economy is far more fragile than England's and we need all the support to boost it that we can get. Hammering people for tax whilst England is currently reducing the tax burden isn't going to help the Welsh economy at all.

FWIW the case in point I'm talking about is £53k LTT v £21k SDLT. Where do you think the investment will end up - Wales, or just over the border, thus saving £32k?

its not rocket science.

[Divine Wright]

firstly, the WG block grant has reduced as a result of The WRS now being responsible for collecting LTT. Therefore it does not automatically follow that we will see an increase in revenues to spend on public services. Secondly, and perhaps more importantly, the Welsh economy is far more fragile than England's and we need all the support to boost it that we can get. Hammering people for tax whilst England is currently reducing the tax burden isn't going to help the Welsh economy at all.

FWIW the case in point I'm talking about is £53k LTT v £21k SDLT. Where do you think the investment will end up - Wales, or just over the border, thus saving £32k?

its not rocket science.

Are you factoring in all the other costs involved in an investment made on the other side of the border ? Would it still be a 32k saving ? Seems a little simplistic/convenient.

[dml1954]

Taken from the government's website....

"The tax collected is used to support public services in Wales."

Sounds good to me. Better public transport. Better hospitals.

You pay this tax when you lease a building or land over 150K or 250K.

Compared to a minimum wager who works in Morrisons, you've probably got to be pretty well off to be able to lease property out.

I'm all for it.

https://gov.wales/land-transaction-tax-guide

Better public transport and better hospitals. In Wales ? You must be kidding. You obviously also have no idea how business (or life) exists in Wales, or anywhere else for that matter. Less tax = more investment = more jobs = more money in the economy and peoples pockets. Its common sense really, something that is severely lacking in Mark Drakeford and his cronies in Cardiff Bay. They are wasting millions of our money.