Mark Wadsworth

This is a spare 'blog in case my main 'blog at markwadsworth.blogspot.com isn't working

Indignant Bleating Of The Week

From e.g. propertycommunity.com:

“The French property market has only just weathered the storm created by the incompetence of the banking sector, and could now be led into even more turbulent waters by the political manoeuvring of Francois Baroin and the current government,” said Trevor Leggett, chief executive of Leggett Immobilier.

“This proposed tax of 20% is an idea that came about without any consultation of those of us within the industry. With the current, favourable, taxation regime in France an increasing number of UK and European citizens are looking to retire over here and we believe that there are far more efficient and equitable ways for the Government to balance the books.”

Or from The Telegraph:

Christopher Bailey, 69, a retired management consultant, and his wife Georgina Howell, an author, who own a medieval manor which they renovated in north west France, said they resented the extra levy. Mr Bailey said: “I’m angry because we already make quite an adequate contribution. To keep what is a fairly substantial property in France, we’re having to find other sources of income. Now we might have to sell up.”

The couple are not alone. Stewart Cook, a property agent with the firm Classic French Homes, said: “Already hit by a weak pound, many British owners who are having to consider selling on economic grounds will treat this news as the last straw.”

Or from TaxFreeNews:

… opponents of the tax have warned that the plans will simply prove too costly for non-residents, and will merely serve to adversely affect property purchases by foreigners, and to discourage foreigners from investing and creating jobs in France.

I think you get the picture.

And how much is this terrible, devastating, socialistically life-threatening tax, roughly?

For example, a family with a two-bedroom flat in Normandy worth £350,000 would have to pay roughly an extra £700 a year; or the owners of £5.5m second home in a fashionable part of Paris would pay around £3,400 extra a year.

Ah, right.

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