Barra Roantree

Again, low earners, average earners pay very little.

High earners do pay a higher share.

So I think the Department of Finance looked at this a couple of years ago.

They estimated, was there people doing this?

They found there wasn't, right?

So I think that's massively overstated.

You get a few people.

I don't think it's going to be anything substantive.

So it might cost 1.4 billion instead of 1.5 billion, that kind of thing, right?

So I go to agree that it's expensive.

And so then the question really is, well, what does it amount to?

That amounts to tripling the local property tax.

Now, actually, I think that would be a good idea, right?

Moving away from taxing incomes towards taxing property would be something that would be good for the economy.

But I don't see that as anything that politicians are proposing.

Much less so if we did this measure, of course, because one of the key bits is that the higher rate...

It'll be less progressive if you cut the higher rate tax.

Local property tax, the regressivity is overstated, but also, crucially, we allow people who can't afford to pay to defer it.

That's built in by your government over successive years, right?

It's a very sensible measure.