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History shows a 'one-off' wealth tax would be anything but


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The idea of a tax on wealth, including people's homes, is attracting growing interest
Credit:
Jason Alden/Bloomberg
Some generations are lucky enough to be born in times of relative political peace and a benign economic environment. Those of us who boarded the housing ladder in the 1970s and 1980s have seen our property investments rise dramatically, far outstripping inflation and salary growth.
The 1980 Housing Act enabled more than two million council house tenants to buy their homes at discounts of around 50pc. Mortgage interest tax relief and ready capital through the 1990s until the financial crisis then made it easy for many people to build buy-to-let property portfolios on little equity.

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