Nigel Farage has pledged that his Reform UK party would reverse the Section 24 landlord tax changes within 100 days.
Section 24 removes a landlord's right to deduct the majority of their finance costs, including mortgage interest and arrangement fees, from their rental income before calculating their tax liability. This means landlords have to pay tax on the gross income they earn from a rental property.
In its ‘Contract With You’, Reform says it will ‘scrap the tax changes for landlords’.
In the same timeframe he would abolish the Renters Reform Bill and begin a review of the planning system.
The Reform ‘contract with the people’ - the Farage equivalent of a manifesto - is only 25 pages in its entirety and gives only a small amount of space to six general pledges on housing.
Introducing the contract to journalists, Farage said Reform UK would not form the government after the July General Election but that the contract would be the first step on the road to the next contest which could be in 2029.
"Our ambition is to establish a bridgehead in parliament, and to become a real opposition to a Labour government" he added. He said the Tories will not be able to provide opposition because "they spend most of their days arguing among themselves, and they're split down the middle when it comes to policy".
The party claims its ambitious tax cutting programme could be achieved by, amongst other things, £50 billion saved by avoiding unspecified "wasteful government spending" and halting the payment of bank interest on Quantitative Easing reserves saving some £35 billion.
Saying that over the past two years the UK population has risen 1.3m while only 425,000 new homes have been built at the same time, the contract states: “The Office of National Statistics forecast the population to grow by nearly 7 million between 2021 and 2036, putting huge pressure on housing. Mass immigration is the main factor in this. Other factors that have damaged housing supply are overly bureaucratic planning regulations that delay decisions and add huge cost.”
So the critical housing reforms within 100 days are, in their entirety:
Review the Planning System - “Fast track planning and tax incentives for development of brownfield sites, including unused offices and vacant high street properties. Review system of Section 106 Developer Contributions for infrastructure such as schools and surgeries to accelerate house building.”
Reform Social Housing Law - “Prioritise local people and those who have paid into the system. In parts of the UK almost half of all social housing is occupied by someone born overseas. Foreign nationals must go to the back of the queue. Not the front.”
Scrap the 2019 Tax Changes for Landlords - “The tax system should encourage smaller landlords into the rental markets. Not penalise them.”
Abolish the Renters’ (Reform) Bill - “Existing legislation was adequate to address bad practices. Instead, we will boost the monitoring, appeals and enforcement process.”
And for the period beyond 100 days, Reform pledges:
Incentivise Use of New Construction Technology - “Such as modular construction, and smart infrastructure.” And
More Homegrown Qualified Traders - “New apprenticeships and vocational courses will increase the supply of skilled, well-paid workers to replace cheap overseas labour.”
Elsewhere in the Reform Contract, under other non-housing headings, the party pledges:
Cut Residential Stamp Duty - “Substantially boost economic activity and housebuilding by cutting Stamp Duty to 0% below £750k. Cut it to 2% from £750k - £1.5m and cut it to 4% over £1.5m.”
Abolish Inheritance Tax (IHT) for all Estates Under £2m - “That means some 98% of all estates. The rate above £2m will be 20% tax, with the option to donate to charity instead.”
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The Reform policies definitely benefit landlords, but will we reap the benefit of them?
They should have been Conservative policies during their time in office.
As a Landlord of one property I agree
They seemed determined to alienate
all small landlords
We all know they won’t form the next government, but they are getting my vote and my families.
This “contract” has already been pulled apart as unworkable. None of these savings are achievable, some of the reasons are the costs would outweigh the savings. The odious Farage (who claims he knows nothing regarding many of his candidates openly supporting Hitler) will however, reel you in for support in full knowledge that he’ll never need to implement his contract and in 5 years, it’ll be a totally different and watered down manifesto.
Reform will get my vote. They can only be better than the incompetents in both the Labour and Tory lunatics parties.
I'm not sure even as a Remainer I consider Farage odious after putting up with the Tories (I was a life-long supporter) and Labour as alternatives. I prefer him to Gove or Rayner as a landlord.
Odious you say 🤔 Straight talking I would say. He will wreck the Conservatives 👍🏻 And that is from a lifelong Conservative voter.
Nick - none of Corbyn's policies would have worked either. However, that didn't matter, Corbyn's objective was to pull political discourse leftwards, without actually having to deliver any of it. And he achieved his objective, political discourse on all sides has been left-based for the last few years.
So Reform's policies and the publicity that Farage gets will pull discourse back to the centre, without having to actually implement those policies. Is that a bad thing?
A S - My point of view is reflected in what you have said. It's not a bad thing moving to the right. It's exactly what I was inferring. Only to say I would like some of Reform's policies implemented.
Nick - my previous comment was replying to the other Nick (Duncan), not you!
But the point still stands. I find many of the objectors are playing the man, not the ball. They hate Farage and it doesn't matter if he has the best policies, they can't bring themselves to vote for him. Ignorance, obstinacy, stupidity or a bit of all 3? Who knows.
A S - I did wonder!
I am already reeled in and will not be letting any of the mainstream parties off the hook
Just waiting for him to promise world peace
You may be waiting forever. Farage left the world peace promises for Blair, Starmer, Corbyn, Khan, Cameron, Sunak et all who paid and are paying our taxes to EU and being ruled by their masters in UN.
There is no peace in U.K. itself with Hamas terrorists supporters flying their flags, destroying peaceful Great Britain’s streets, people’s homes, historic buildings & monuments, whilst claiming to be peaceful!
Farage was the only leader who stood up in the EU Parliament peacefully for Great Britain’s sovereignty & self governance out of EU’s clutches, he never promised world peace and likely will never do so.
Aas long as defunct anti British UN rules over countries, is overruled by EU and describe terrorism followers as peaceful, there won’t be any world peace.
One can assess the World Peace or Terrorism easily by looking at the world map of terrorism to see which so called sect, and organisations are constantly starting wars, attacking other nations directly or stealthily to spread their sect’s followers.
Those who don’t vote right, shouldn’t complain after GE.
Reform U.K. or Britain First are the only parties to protect Great Britain and its people first, charity and peace begins at home first, world peace is secondary objective, our veterans and their families have lost enormously for world peace and yet the current govt & opposition is prioritising illegals, EU wars, UN rules over supporting British people.
Vote wisely & if not Reform U.K., no right to complain after the elections. Best wishes.
Excellent policies. Not just for landlords but for every working person, every PRS tenant, anyone with any aspiration.
In general Reform policies make sense. Currently countless people are working at below capacity due to the obscene amounts of tax they would pay if they worked any extra hours. The brakes have been slammed on and their aspirations thwarted. Reform policies on taxation, employment and housing would unleash people's potential and as a consequence rake in huge amounts of extra tax. 20% of something is significantly more than 40% of nothing.
Raising the threshold before people pay any tax would cut the UC bill. Raising the basic rate band to £70K would have a revolutionary effect on families like mine. Two of my sons work in construction and road haulage and have to think very carefully before accepting any overtime due to how little of the extra pay they would keep and the extra costs such as travel to work and childcare.
My other son's partner only works 4 days a week because a 5th day takes her into the higher rate tax band and it simply doesn't stack financially to lose 42% and pay for an extra day at nursery and travel costs.
These are people in their 30s and 40s who should be at the peak of their careers not worrying about whether working to capacity is financially worthwhile.
Too much forward thinking there for the mainstream parties! I agree with you
HALLELUJAH !!
Common sense at last.
The tories are done for; labour will hammer private landlords with everything they can.
Stuck between a rock and a hard place, there's only one option: Vote Reform. Nothing to lose and potentially much to gain.
Farage may be Marmite but he’s sure as hell better than any of the pathetic alternatives. It’s Reform for me, they are far more Conservative than the current crop of spineless left of centre Tories. The fight back for all small businesses including currently demonised landlords must start on July 4th. Labour will, as usual, wreck the economy so we will need some good guys in parliament to fight back & then put it right in 2029!
He is the only one making sense and saying it as it is, as he has always done, the establishment don’t like that.
If we want change, as proven by the Brexit decision we all need to be as bold and support him.
We all know he won’t be our next prime minister , but we could at last have a voice for reason and hold the others to account
Very good scrap Policies that was never required that the Conservatives spent years implementing to create homelessness and wrongly drive out private landlords that had contributed so much.
He is on the right track scrapping Section 24 but should have also said he would reinstate Section 21 the biggest cause of homelessness followed closely by licensing Schemes and Section 24, it would probably be enough to get him elected. Then why did he have to go and put the dampers on it by saying he wouldn’t get in until ‘29 he should be more confident than that, no point many of us will be dead by then but fight while we’re here.
Another clown Council up the Country saying they will introduce £1’000. Licensing fee for landlords if elected.
They must think Tenants are Stupid they all know by now forcing up landlords costs of Supply increases their Rents.
We know majority of Councils are useless with financial affairs they are totally irresponsible it’s not their money and not accountable. Look at Warrington £2,billion in debt if there was no one in charge it couldn’t be much worse.
Haven’t they now come up with a wonderful plan spreading like wildfire rob Private Landlords.
Section 21 hasn't been abolished yet so he doesn't need to say he would reinstate it. He has said he would abolish the RRB so that already indicates Section 21 would remain.
I agree that Nigel Farage shouldn't keep saying that they don't stand a chance until 2029. They need to ensure that there are leaflets outlining their policies going through people's doors right now.
Remember he also said he would lose the Brexit referendum. Imagine the howls from the main parties if he was as wrong about this?😉
The policy proposal is as woolly as the rest of the manifesto, where the old fibber Farage is proposing a budget that would make Liz Truss and Kwasi Kwarteng think twice. It would literally break the economy. He knows its nonsense, but he doesn't care, as we saw at the time of Brexit. Any old nonsense will do to get him on the TV and earn a few more quid from gullible people.
It's gullible people that will vote for Starmer
Woolly, you mean just like Labour, 😂 Starmer ( Sir Kneeler) is incapable of confirming what a woman is 🤔
‘Woolly’ that’s Labours one and only skill.
I don't think Mr Farage will be our next PM but lets give him some power so he can at least hold the loony left to account
Is it possible that Labour might not get an overall majority, and the seats of the Conservatives and Reform could exceed those which Labour and the LibDems win?
Reform would need to win considerably more than seven seats (as one prediction states) for that to be a possibility.
Ellie, the MSM are predicting seven seats as part of their campaign to stop REFORM. Just remember their predictions on the Brexit vote. 😂
Weren't the polls predicting no seats about a week ago and yesterday the one in the Daily Mail showed a sprinkling of turquoise? I think it was around 7. How many more could it be on July 4th?
We have to see perhaps how many votes Reform can take from Labour in "the red wall". I believe that Reform is targeting those voters.
No question, one of the most poorly thought out tax policies by the conservatives.
I’d expected the conservatives to have abolished it at some point…still waiting.
Yet to find an accountant that agrees with the fundamentals of this policy.
Labour will without a shadow of a doubt look to increase taxes on landlords, because of course we’re privileged and never worked a day in our lives. We haven’t saved when others have gone to the pub and bought lovely cars.
As for Farage, as you’d expect I like this policy A LOT, but my better sense tells me despite being born and bred in Britain, I might start to feel a tad bit unwelcome.
Difficult predicament ahead…
Ben Habib is deputy leader of Reform so I wouldn't worry too much.
@Kulvinder Singh - re your comment about feeling a tad bit unwelcome it might interest you to know that our local Reform candidate is Kabeer Kher. I have had a couple of conversations with Mr Kher over the last few months and he made it clear that Reform have welcomed him with open arms and he had NEVER experienced one moments racial prejudice. He is very approachable and I am sure would reassure you of this! I have also attended a meeting where Ben Habib was the keynote speaker and being half Punjab he laughed and pointed out that he could not be racist even if he wanted to and also re enforced that he had not experienced any racism whatsoever. Re your comment on finding an accountant who agrees with this policy - I think the Institute of Chartered Accountants confirmed that this went against every tax precedent this country has ever had!
The Predicament is only for the illegals, which is a criminal activity, not Legal migrants.
Patriotism is not Racism or far right.
Try living as a British person in Middle East, Africa or India, add EU as well since Brexit, to get the full flavour of racism against British people.
My, family and associates votes, in fact even our tenants stated that their vote is for Farage since many illegals are taking the housing away from genuine legal British born, bred, contributed to the economy, paid taxes yet illegals jump the priority queue for social housing.
From our perspectives, there is no predicament in voting for Reform U.K. & Britain First to try and make it Great Britain again and protect British people first.
Simple- No vote for right people, no right to complain after GE. Best wishes.
Kulvinder - the predicament is only for one type of person. The type that would favour a "religion" over their nationality. Looking at your name, I don't think you fit into that category, as I don't either. You know the type I mean.
If you believe that desperate idiot you'll believe anything.
I wounder why you don't like him Sandra
Well he is in favour of something you won’t agree with: rewarding hard working people. As a benefit scrounger living off other people’s money, that is anathema to you. 😠
Policies that are good for small, independent landlords are automatically good for tenants.
I never thought I'd agree with SBR - but I do! Nigel Farage is a dangerous popularist & Reform attracts the worst of the far right. Plus, as he won't be in charge, he can promise unicorns!
Tricia,
Not far right, just right!
Shouldn't you be doing job applications instead of wasting time on here?
I'd rather have far right than far left. A bit of far right can at least drag politics back to a middle ground.
That Smart ‘idiot’ was the only Courageous one to stand up in EU Parliament for our country’s sovereignty, independence as a self governing nation.
Reform U.K. party is getting our votes only because Farage is their leader, alternatively we would have voted for Britain First as the only party who have actually shown by actions to support British people’s- including LL’s interests instead of those flying flags of terrorists Hamas led nation to flood our country with illegals taking homes from out veterans/good tenants.
Patriotism is not racism or right wing politics.
Both Conservatives and Labour, as well as LIB Dems will destroy not just PRS sector but U.K., alongside it’s glorious history by their woke, anti British, pro EU, UN Wars support from our taxes whilst our families, friends, veterans suffer after saving the world 🗺️ due to UN/EU regulations ruling over us.
Those who don’t vote for Reform U.K. shouldn’t complain about PRS LL’s or other issues due to another party in power-don’t vote the right party, no right to complain. Best wishes to All.
Well SBR, if you’re against him, I know for certain I am right to vote for him 😂😂
I'll be voting for Reform... 100% 👍
I usually vote Conservative but they have completely let us down. As a Landlord I can’t vote Labour, Lib Dem or Green. Therefore I belong to a large core of undecided voters. There needs to be a box “none of the above”!
That large core is voting REFORM. Why not join them?
I am also a 'Non-of-the-above' voter. I include Reform in that list that I won't be voting for!
We need people to vote reform to drag politics away from the left. Their policies will need to be watered down anyway. Don't just not vote. Help us fight the dreaded Tories, Labour, Lib Dems and Greens. Knock all this woke nonsense on the head too.
I am Remainer and I'm voting for Farage. He's the bes option.
Annoyed Landlord - I guess I will make my mind up on the day. I am not a Brexit supporter and would like to rejoin the EU.
He's no chance of getting into parliament and a lot of his policies aren't costed correctly but he is here to stir up the public of possibilities and thereby try to influence the public to put pressure on the government. Why is IHT threshold so low compared to the housing market and why 40%. Why aren't LLds being treated in an even handed process. A number of his policies sound good which will stimulate thre questions why can't we do this. Of course this is will reflect on Labour which do nothing, don't rock the boat policies.
Farage is a cynical man who latches onto an opportunity. He’s the Trump of the UK telling us what we want to hear. Don’t forget he was the leading Brexit proponent. He was one of the first to realise he could harness the voiceless discontent masses. Now he sees both parties fighting to appease these same people he’s changed sides. He sees there’s now an ignored, disgruntled and unrepresented group of landlords and business people who’re politically homeless…he’s pretending to offer us a home…I’m not convinced
Do you write for the Daily Mail?
They are up to seven articles today directly bashing REFORM or attacking them inside another article. Nigel has been happily making money over the last couple of years here and in America, so what does he get out of being the cynical guy you portray?
Reply to Annoyed Landlord: Ha ha, very good. Are you an MP for the Reform party? You must be very naive if you believe everything a politician says. As much as I’d LOVE to believe in Nigel Farage his prior acts are the best indicator of future behaviour in my experience.
no, Kate, i am not an MP. Are you a Tory candidate?
Believe what you want. I am old enough to remember the Labour amd Tory Governments from Harold Macmillan onwards. Why would I be NAIVE enough to give either of them my vote. Both believe they have an absolute right to be the government.
Still worth giving him a try though
I haven’t actually decided who’s getting my vote at this point Annoyed as they’re all a bunch of shites as far as I’m concerned, but you carry on throwing rocks at anyone who questions your current hero!
Kate, you threw the first rock. Perhaps best if you don't vote.
Kate: No one is ‘throwing rocks’ except perhaps you!
Kate, the fact that he turns all those slimy politicians incandescent with rage says it all. Yes, he's a bit of a marmite character but he's a bit like one of those old school politicians that has made their way in life and politics are an optional extra. I like his direction, he's the only one that speaks a modicum of sense at the moment and as a result he gets my vote
Nigel Farage is the master of common sense. He says what the silent majority thinks. He is the voice that will improve the PRS for tenants & Landlords. By voting Reform UK it will build a bridgehead to win the 2029 election.
I think he could win if England was a separate country but not with Wales and Scotland. Full of socialist, left wing nuts
This man can promise the world as he and his party, well and truly know they will not be in charge, a bit like the Green Fairy party, just a lot of hot air. The Tories should have done this in the first place instead of pampering to the public. all about votes here.
Section 24 will mean Private landlords are taxed on their rental income, unlike every other business in the country which is taxed on profit. This will likely force a large number of landlords to increase rent levels to prevent bankruptcy or sell, reducing much needed housing supply.
With high interest rate landlord will be paying tax on money they do not have.
Result is a negative proof. Therefore forced to sell up.
"Section 24 will mean Private landlords are taxed on their rental income...." Section 24 has been here from 2016.
So Section 21 has not yet been removed as it was part of the Renters Reform Bill. However regardless of The Renters Reform Bill, labour says it will abolish on day one.
In any case a huge amount of damage has been done to PRS already just the threat of removing it. Thousands made homeless, properties kept vacant, thousands and millions lost to landlords including me and the Revenues 40/45%. Idle talk is dangerous.
Spot on Michael!
I have to agree with Margaret and Tricia. A box to tick for 'None of the above' would be useful. I am sure that the majority would tick this box. None of the parties stated deserve my vote.
I see some commentators say the Reform policies have not been costed correctly. On what information is this based on? I would imagine Reform have people who have looked into these costs in some detail, obviously they may be biased with estimates. How can you be sure the costs are so wrong, or is it just an assumption because you don't like the policies?
Farage is the only one talking sense out of all of them...on everything. He's the best man for the job.
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