RE: France bond movements28 Aug 2025 12:27
"We need to promote wealth creation, not punish it. Otherwise, what's the point of going to work in the morning?"
There has been HUGE paper wealth creation in the UK over the last 50 years. Capital gains enjoyed from the average property price going from 4k in 1970, to 19k in 1980, to 76k in 1990 and now to 270k in 2025 have little to do with hard graft though I'm afraid.
Whilst I don't agree with this property tax in principle, the largest source of personal wealth building in the UK is due to government and central bank policies. These are namely decades of insufficient housebuilding, low interest rates and very high net migration.
I know we'd all like to think that our house values doubling, trebling or increasing tenfold is all down to hard work and doing things the right way, but it isn't...