What\’s this Lib Dem thing? VAT on new houses?
Sure, there should be equality between VAT on new housing and restoring old but that would be best done by reducing VAT on restoration. Reducing here meaning \”eliminating\”.
For increasing the tax on the sale and or purchase of housing will reduce the liqudity of the market. And we know that reducing the liquidity of the housing market increases unemployment. (Yes, it does: high rates of home ownership increase unemployment because ownership is less liquid than private sector rentals. Council housing of course increases unemployment even more as council housing is even less liquid than ownership.)
One possibility is that they can\’t reduce VAT on restorations because the EU says that we can\’t. But then that\’s just another good reason for leaving, isn\’t it?