Chris Giles @chrisgiles.ft.com · Oct 2 1 / 2
Yes London and South East pay too little after decade of differential house price growth. Remember much gets mopped up by stamp duties and inheritance tax
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But the big point is that lower taxes have become reflected in higher prices, so anyone who bought in the past 20 years haven’t gained. Making them lose without making home ownership cheaper is a sure fire way for Labour to lose its London stronghold