This is the question Vince may have to answer in an hour.

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3 thoughts on “What do you say to a jobless man with a £2m house?

  1. Simple.
    You point out to him that he could trade down to a £500,000 house – and outside London, this buys you a lot of house – and live off the £1.5m he releases. Even at a 2.5% interest rate, this gives an income of £37500, half as much again as average earnings.
    Anyone who can’t manage on this has organized his life so badly that he doesn’t deserve any sympathy.

  2. Funny, we discussed this because another prominent Lib Dem was due to be heckled about this – and that was the very answer that the politician was going to struggle to give. The man in question had 40 years ago bought the house, was now unemployed. So XX of the Lib Dems says “On top of that, now move, because our tax makes it necessary”.

    I quite agree that, distributionally, the guy is in the top 0.1% of wealthy people. I thoroughly approve of the policy. But it’s a political nightmare . . .

    Vince mentioned Land Value Tax too (next post)

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