Red herrings
Right: let's have another stab at this.
How many houses in Wales would the new million pound tax affect, given the plan is to work from land registry values - in other words what you paid for your house all those years ago, not what it might be worth now?
Not many noughts, I ventured. Around 100? One nought, said my colleague. The answer is 40.
So bringing in the tax in Wales would raise very little. The money we'd put into the pot would be minimal.
But we'd get a lot out. We have a disproportinate number of people earning a low income and igven the money raised from the levy would go towards raising all of those people out of the tax bracket, Wales would be getting rather a lot out of the pot.
Good news for Wales, then. End of story.
Of course it might not happen this way, especially in the devolved nations but ... this is the plan for now.
Oh and forget Barnett - another of the red herrings that seem to be drifting into the Conference Centre from the sea outside this week. Glad to see I'm not alone in coming across those.
On another note: the Welsh Lib Dems' Transport Consultation Document is out. It's about 'changing the centre of gravity' from road to rail, about cutting all public subsidy from the north-south air link and if what you're after is more of an M470 than an A470, "don't look to the Liberal Democrats".
At least that is perfectly clear.
I'm Betsan Powys, BBC Wales' political editor. I'll be blogging the inside track on 
© MMIX~RS~q~RS~~RS~z~RS~19~RS~)
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"given the plan is to work from land registry values" - What Betsan??? - that's a nonsense isn't it?
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I'm amazed its as low as 40! There's more than that for sale right now in just Cardiff and its suburbs.
They've definately got the right idea on the public subsidised ieaun air though.
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Header...by BP...
"......we'd get a lot out. We have a disproportionate number of people earning a low income, and given the money raised from the levy would go towards raising all of those people out of the tax bracket, Wales would be getting rather a lot out of the pot......"
Betsan... Don't you believe it.
Never mind red herrings, more like flying pigs.
But that's the Lib Dems, talking up a storm while they ain't where they would like to be, I bet their tune would change dramatically if they ever did get hold of the reins.
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Dewi_H
That's the plan as explained to us, though according to this report - http://news.bbc.co.uk/1/hi/uk_politics/8265821.stm some confusion still reigns. It would account for the figure we've been given of 30 - 40 houses in Wales. If you bought a house years ago for a snip and find it's now worth a bomb, you're still taxed for now based on the snip ... not the bomb. Or as my colleague David Cornock puts it, if you bought your house forty years ago for £60,000 and it's now worth £2m, you wouldn't pay. That's our understanding and that's why, Cardiffian, the tax wouldn't apply to the owners of a lot of those houses you're talking about. They weren't on metaphorical Millionaire's Row when their owners bought them.
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Yeah thanks Betsan I've got it... but I'm still surprised that here in the country that invented million pound cheques, there has been less than forty of them signed in relation to residential property.
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Message 4...
"....Or as my colleague David Cornock puts it, if you bought your house forty years ago for £60,000 and it's now worth £2m, you wouldn't pay. That's our understanding...."
Maybe I am asking the wrong person this next question, but.... if that is the possible case, then what the hell is the point?
If there are so few one million quiders in Wales, taxing them a 5% slice will hardly impact on the lower paid, or are we to expect that the support will come from all those, down south east of London, as well as the capital itself?
I will, sort of, answer that myself, by saying, if that is what is being said, I do not believe it. Nor will anyone else with a ha'porth of nous.
Mind you, I have great difficulty believing anything coming from the mouths of politicians, of any colour.
You may note the time I posted my previous message, I later sat and watched the BBC news, during which, various folk were interviewed re the matter, and lo! and behold, as though to prove my point about being believed, some echoed my very words, re the potential for the not so well off, but living in high valued housing, being hit.
No mention of 'only if you didn't buy the until house last week', and one being safe if you bought in the 70's or 80's at bargain basement prices.
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THey seem to be making it up as they go on - but I guarantee that the valuation won't be on the Land Registry values. They value houses differently depending when you buy them, Nonsense. Council Tax valuation?
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It looks like there are a great deal more than fourty houses falling into this bracket in Wales.
I have checked what is on sale right now on the Home Wales site. Excluding development opportunities and farms, there are 51 properties, or 47 if you exclude those at exactly £1,000,000.
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This looks like another "dog's dinner",but who on earth was buying £6o,ooo houses in wales some 40 years ago??. The Lib Dem's do have sensible policy in cutting PC Air public subsidy,however we need M4 relief road asap.
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