Comment by sefrost
1 month ago
Wow a fantastic independent pub near where I used to live in London is seeing its rateable value go up 480%! This website really puts the headlines in to a nice local perspective.
It seems like the taxes only go up while the services get worse in the UK, although I’ve been away for 5 years now so maybe things improved.
> seeing its rateable value go up 480%!
Rateable value is based on what the market prices would be to rent that space. So, somebody is doing nicely apparently.
But if the landlord owns the pub (rare in the UK I know), but I believe it’s the case in this instance, then what are they getting from unrealised property price gains?
What does anyone gain from it really, except money in the bank for a handful of individuals, outsized property prices seem to be a hurdle for functional societies in basically every way.
It doesn't benefit a town if rent is so expensive that their businesses shut down.
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Leverages and confidence from the credit agency (be it banks or private investments), and the higher possiblity of approving the borrowing, and thus getting more shitty debts to be made, and contribute more to the total Gee-Dee-Pee which is the holy grail those economists chase after
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Nothing, but if market value of the land is going up, then that means the price for government services is going up (e.g. government employees need to be paid more, land acquisition or rent costs more, materials cost more, etc). Hence taxes collected have to go up.
This could all simply be due to a devaluation of the currency, rather than due to increased desirability or productivity.
Collateral you can borrow against?
Here’s the Lamb and Flag in Oxford
https://www.ismypubfucked.com/pub/11447801200
> the Inklings, a literary group including J. R. R. Tolkien and C. S. Lewis, started meeting at The Lamb and Flag.
https://en.wikipedia.org/wiki/Lamb_%26_Flag,_Oxford
The Lamb and Flag has faced previous financial challenges.
It in fact closed temporarily in the pandemic due to UK law preventing their then owner / operator, St John’s College, a charity, subsidising a loss making business, despite having the wherewithal to do so.
https://www.bbc.com/news/uk-england-oxfordshire-55763746.amp
> On the way to an Inklings meeting, Lewis gave some money to a street beggar, and I made the usual objection: "Won't he just spend it on drink?" He answered, "Yes, but if I kept it, so would I."
Amateurs. One close to me is at an +821% increase in its tax bill and rateable value at 613%.
> It seems like the taxes only go up while the services get worse in the UK,
Same in the Netherlands
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The services have certainly not got better in the last 5 years. This Government is fiscally illiterate and has hit the top of the Laffer curve and is now trying to go down the other side.
This government have been in power for less than 2 years. Despite launching a lot of trial balloons on raising taxes they haven't actually raised the headline tax rates (other than allowing fiscal drag to do so).
Overall the tax burden in the UK is middling for western democracies. It's actually on the low side for low earners - which is probably a problem because the distribution is such that the majority pay very little.
The other problem being cliff edges and complexities which distinctive chasing pay rises and working more for a lot of people.
The biggest problem is that the tax on a median taxpayer is not just "middling", it's a bit over a third of what a median German taxpayer is paying. The rest of the fiscal problems (convoluted tax rules, cliff edges to try to claw something back, abrupt tax increases like the one on pubs) are downstream from that.
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Unfortunately, if an election were to be held today, the morons at Reform would have the greatest chance of winning, thanks to Starmer's ostrich syndrome, Corbyn dividing the Labour vote and the Tories being absolutely irrelevant after 15 years of continuous rule.
I'd be interested to know your view on how you think Britain should be governed and the extent to which you think others would agree. Serious question: can you offer a link to some such description?
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I thought Corbyn started his own party? Surely they have time to figure out a way to look more competent than Starmer of all people
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Don’t. Just don’t.
There’s time for some party to sort themselves out before the next election is due (Aug 2029).
"This" ...?
You jest.
Meet the new government, same as the old government.
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