December 23, 2020 - 771 views
Janet Finch-Saunders, Member of the Welsh Parliament for Aberconwy, has criticised Welsh Labour’s moves to tax homeowners when they buy a house worth between £180,000 and £250,000.
The threshold of Land Transaction Tax is set to revert to the original rates and starting threshold of £180,000 from 1 April 2021.
Commenting on the situation, Mrs. Finch-Saunders said: “The Welsh Government claims that its budget sets out a plan to build a more prosperous Wales.
“At a time when so many employers and employees face uncertain futures, every safe step possible should be taken to help boost the economy.
“However, what we have seen is a tax on aspiration and opportunity. Many family homes across Aberconwy can easily cost more than £180,000.
"When considering that some mortgage providers are requesting twenty per cent deposits, that alone would be £36,000. To expect residents to save even more money at this time to pay tax on top of that is ridiculous and out of touch with reality”.
Welsh Government has been approached for comment.
