Chief Secretary to the Treasury Laura Trott claims Labour are “secretly planning to put capital gains tax” on people’s residence, which would be a “disastrous policy for families up and down the country”.
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00:00The idea that Labour are secretly planning to put capital gains tax on your primary residence
00:06for the first time is a disastrous policy for families up and down the country. It's something
00:13that the Labour Party should not do in secret. They must be honest about their plans and the
00:19impact that this would have on family homes up and down the country. So I think this is
00:24unprecedented. What they're putting forward and the fact that they've explicitly failed to rule
00:29out, which is really in stark contrast with what happened. And you'll remember with VAT,
00:33they couldn't get out there quick enough to say, no, no, we're not raising VAT.
00:37They've just not done that on capital gains tax for primary residences. And that is extremely
00:42telling. And I do think it would be disastrous. I think most people would accept it'd be disastrous
00:46for the housing market. And of course, it would put any kind of target in peril.