{"id":4395,"date":"2025-10-10T11:02:28","date_gmt":"2025-10-10T11:02:28","guid":{"rendered":"https:\/\/second-home.uk\/?p=4395"},"modified":"2025-10-10T11:02:28","modified_gmt":"2025-10-10T11:02:28","slug":"taxing-the-housing-market-wont-pay-off-lenders-warn-chancellor","status":"publish","type":"post","link":"https:\/\/second-home.uk\/?p=4395","title":{"rendered":"Taxing the housing market won’t pay off, lenders warn Chancellor"},"content":{"rendered":"

The Intermediary Mortgage Lenders Association has warned Chancellor Rachel Reeves against using the housing market as a target for tax rises in November\u2019s Budget.<\/p>\n

Any more tax rises in the sector would fail to raise meaningful revenue and could instead choke off economic growth, the association warned.<\/p>\n

IMLA estimated that all of the property tax ideas floated so far, including a new annual property tax, council tax reform and capital gains tax on main residences, would together raise less than \u00a36 billion.<\/p>\n

Kate Davies, executive director of IMLA, said: \u201cThese numbers simply don\u2019t move the dial.<\/p>\n

\u201cThe Chancellor should resist the temptation to reach for politically easy but economically damaging options. Most of the property-related measures being discussed would deliver minimal revenue, take years to implement and undermine confidence in the housing market.\u201d<\/p>\n

Davies said the government should focus instead on big-ticket reforms capable of generating significant income more quickly, even if that means making politically difficult choices.<\/p>\n

Davies added: \u201cTinkering with the housing market will not deliver what the government needs.<\/p>\n

\t <\/p>\n

\u201cIf ministers want growth, they should look at broader, bolder measures that can genuinely raise revenue and support investment. Small, piecemeal tax changes will just add uncertainty, hurt confidence and slow activity at exactly the wrong time.\u201d<\/p>\n

Housing transactions are a major driver of economic activity, supporting jobs in construction, conveyancing, surveying, removal services, home improvement and retail \u2013 a slowdown would affect all of them.<\/p>\n

Whatever the Chancellor decides, IMLA called for clarity, as uncertainty is slowing down the housing market, according to reports.<\/a><\/p>\n

Davies said: \u201cUncertainty is deeply damaging to business confidence.<\/p>\n

\u201cWe may not like every decision the Chancellor takes, but the market will respond far better to clarity and conviction than to dithering and indecision.\u201d<\/p>\n

The\u00a0Autumn\u00a0Budget will take place on Wednesday, 26 November 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Intermediary Mortgage Lenders Association has warned Chancellor Rachel Reeves against using the housing market as a target for tax rises in November\u2019s Budget. Any more tax rises in the sector would fail to raise meaningful revenue and could instead choke off economic growth, the association warned. 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