I refer you to post #15 where you expressly referenced UK policy in relation to mortgage interest relief.
Why did we ever have mortgage interest relief?
Incidentally, you do realise that MIR comes out of the "public purse" don't you?
MIR didn't prevent people becoming underprivileged! If it never existed houses would simply have been cheaper and taxes would have been lower.
Why do you insist on continually bringing up pensions? This thread is about mortgage interest relief. There is no connection between MIR and pensions.
If MIR never existed would more property have been acquired by landlords? Possibly but that would have just meant lower rents. From a societal perspective what maters is the cost of housing - not who owns property... MIR is only available in respect of a home loan on a PPR - landlords can't claim MIR.
No landlords do not get MIR. Landlords can indeed deduct certain legitimate business expenses in calculating their taxable profits. Prior to 2009 they could deduct 100% of their interest payments in calculating their profits - just like any other business.
I'm perfectly happy to discuss whether granting tax relief on retirement savings is justifiable on an appropriate thread but can we just stick to the subject matter of this thread here - i.e. whether there is any justification for extending MIR beyond the end of this year?
The decision to phase out MIR has already been made. The Government has already recognised that in a constrained market a demand-side support such as MIR simply increases the cost of housing - in other words, it makes no economic sense.
Now, can you justify the extension of MIR beyond 2017 for a limited cohort of borrowers?
I have been justifying the extension of MIR beyond 2017 for a limited cohort of borrowers.
Sorry I've read back through the thread and I can't find your justification for extending MIR beyond the end of 2017 for a limited cohort of borrowers. Could you re-state your justification for this extension without re-introducing a host of unrelated issues?
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