The government should introduce a property speculation tax
to stabilise the market and prevent another housing bubble, according to a new
report. Published by think tank the Smith Institute, ‘The Case for a Property
Speculation Tax’, which highlights the speculative activity driven in high
demand areas by overseas investment, argues that the government urgently needs
to consider preventative action to curb excessive volatility in the property
market. The report warns that a housing bubble would not only worsen the
housing crisis but also threaten the economic recovery. Read more on 24dash.
