VIDEO: MP renews call for tax loophole closure

Mark Reckless, Member of Parliament for Rochester and Strood, took the opportunity during today’s Prime Minister’s Questions to renew his call to end the capital gains tax exemption on property for non-residents.

Speaking after PMQs, Mark said:

“Why should foreigners be able to continue buying and re-selling investment properties in central London, extracting perhaps tens of millions profit, without paying capital gains tax, when UK residents are taxed on capital gains?”



Filed under economy

7 responses to “VIDEO: MP renews call for tax loophole closure

  1. Bev Craddock

    Every uk resident pays capital gains tax why are foreigners exempt from paying this tax? This is totally unacceptable, as is the loophole that allows big businesses in UK with million pound profits that are not paying taxes.

  2. Well said Mark, the are are many other loop holes that need closing.


  3. George Morley

    Yes, Ronald Clayton you are right there ! Like the frozen ex-pat state pensioners who get no indexing of their pension purely dependent on their country of residence. All pensioners wherever they live qualify for the pension because their payments were mandatory along with that of their employers.
    On retirement they are now discriminated against by this government who are continuing the disgraceful treatment of previous governments which has been perpetrated for decades.
    That is no reason to carry on robbing them is it ? The UK is the only member of the OEDC who discriminate in this way and this policy goes against the Commonwealth Charter which says that it is implacably opposed to discrimination in any form.
    The UK government should be showing a lead and not hanging on to a draconian regulation because this has nothing to do with any other country but is purely a British government policy. If you find that this is an immoral and unjust treatment of British citizens abroad then you would be right but it seems that many politicians have no conscience when it comes to pensioners and I’m sure that Mark cannot be included in this unless I read him wrong. Steve Webb declared it to be discriminative and irrational when in opposition and even raised an EDM but now in the perfect place to scrap it does nothing but defend it and has included it in the new Pensions Bill proceeding through parliament. We will fight it in the Lords though have no doubt about that.

  4. Jane Davies

    You mean Webb tries to defend this continued discrimination George. His pathetic attempts to try to defend the indefensible has just made him look foolish in front of his colleagues and the world and confirmed that he is a hypocrite. Shame on him.

  5. Andy Robertson-Fox

    Interestingly, in connection with the iniquity of the frozen pensions policy, Mr. Reckless, when your colleagues Sir Peter Bottomley and Sir Roger Gale spoke with the Prime Minister prior to the third reading of the Pensions Reform Bill Mr. Cameron apparently made the following comment:-

    “…..(he) did not….have the necessary five hundred million in his back pocket and if he could find that sum of money then there were rather more pressing priorities, such as rising fuel prices, he would prefer to spend it on.”

    Perhaps you could remind the Prime Minister that while he may not have five hundred million is his back pocket he does have £27 billion in surplus in the National Insurance Fund – a fund I need not remind you that is primarily responsible for the payment of pensions..not subsidising government whims.

    Perhaps, too, you could remind him that that the Advocate General in the ECJ has stated that budgetary considerations are no justification for objective discrimination; a fact which has been born out by the UK Supreme Court in relation to pensions for part time judges.

    There is no difference in the claim for pension parity with the other 96% of the UK pensioner population world wide by the frozen 4% than with the pension parity claim and judgement by those part time judges.

  6. Pingback: BLOG: Nick Clegg in Paternity Battle | Mark Reckless MP

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