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Farron: South Lakes Must Benefit From Second Home Tax

November 26, 2015 1:38 PM

Tim Farron MP has welcomed a tax increase on second homes, having long campaigned for action on this issue. However, Tim has insisted that South Lakeland must benefit from the money raised.

The Chancellor announced plans in the Comprehensive Spending Review to charge a 3% surcharge on each stamp duty band for buyers of second homes, which will take effect from next April.

In the speech, the Chancellor said: "The government will use some of the additional tax collected to provide £60 million for communities in England where the impact of second homes is particularly acute." However, precise details of this have not yet been given.

Tim has welcomed this announcement, having long campaigned for action to support communities which have been hit by very high levels of second home ownership.

Tim said: "This is a welcome announcement from the Chancellor, which has the potential to address the issues caused by high levels of second home ownership. Here in the South Lakes, many rural communities are severely affected by this, and local services become unviable.

However, the government's announcement is currently lacking in detail. I want to see assurances that the money raised will be used to support local communities in the areas affected, such as here in South Lakeland, rather than simply being siphoned off to other parts of the country."