Are you wealthy? Seems I am.

That's how I understood it M0nica Thank you for putting it plainly.

aizie Money has been borrowed and there has been 'quantative easing', which involves printing money, but as the actual value of the assets backing the money printed hasn't changed, the result, is the value of every £1 has fallen, this causes inflation, our exports become cheaper and imports more expensive.

And if you have a farm, even mortgaged to the hilt, you're another millionaire. We call in 'Land Rich, Cash Poor'.
I don't think any party will dare bring in anything like this law, it'd surely be political suicide.

There is no 'covid debt'. The money hasn't been 'borrowed' from anyone. It is new money that has been issued by the Bank of England on the orders of the Treasury.

Don't let anyone fool you into thinking that we have to 'repay' it with higher taxes.

Yikes! I thought I was as poor as a church mouse!! Might get a bit cocky now I know I am wealthy!!

Just looking at options I suppose.A tiny flat in London wouldn’t be worth a million ( unless it was in Mayfair/ Kensington etc) and was in a beautiful period property, surely?
If anyone has a flat worth a lot, perhaps next year would be a good time to move to pastures new?If it looked like it may happen I mean.
Am betting that it won’t, although the governments all over Europe will be looking at ways to pay off the Covid debt.

They would have to take into account other assets surely.
Remember it’s just one option.

Doesn’t sound like an election winner.

Crikey that's me then as I live in London and no I don't have a lot of savings

It's madness. There are so many of us, especially in London, on a small pension with a valuable house. If they have to raise tax on houses, it should be through raising IHT.