Council tax revenue is not something govts have much of a hand in. They are determined and administered locally. I doubt there is any appetite for a global revaluation at the moment.
I was not clear. I meant the percentage of local authority funding that comes from central government. This is about 22%. If there was an affluent council that could generate high levels of council tax revenue (Westminster with many millions of pound dwellings) then that central support could go down to zero (or negative 22%). If such multi-million dwellings were re-calibrated to bands x, y and z (not just stop at H) then this could raise surplus revenue for Westminster.
Here is how bad it is -
Highest band is band H. Average council tax for H is £2k. Westminster is £1k.
Band H is defined as a property above £320,000.
I went onto Zoopla to find out what’s available. Currently there is one single property on offer below £320k in Westminster. Above £2m you have a choice of 1,676 on offer.
Those are the 1991 property valuation estimates so yes these days there won’t be much for that price
i suppose it depends if the tax in indexed, eventually even a small flat in a high rise will be worth £2million
They could alleviate the problem at a stroke by removing or reducing negative gearing which makes investing in property a very profitable investment (ie you can offset loses against other unrelated income and rely on the capital gain which has a 50% discount)
The problem there is that they worry house prices may crash plus too many MPs have several investment properties
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Leaving the EU has cost the UK economy approximately £140 billion to date, according to a 2024 report by Cambridge Econometrics commissioned by City Hall. This is based on modeling that compares the UK’s economic performance as if it had remained in the EU. This cost includes reduced growth, lower trade, and a significant impact on jobs, with a projection that the UK could be £311 billion worse off by 2035 if it had not left.
Economic costs so far
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Total economic cost: £140 billion (as of early 2024).
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Impact on jobs: Nearly 2 million fewer jobs due to Brexit.
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Reduced exports: A 6.4% reduction in worldwide UK exports.
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Increased energy costs: An additional cost of £2 billion per year.
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Lost productivity: A long-run productivity decrease of 4%.
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Lost income: An average decrease in income per person of £2,000.
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But, what about the feel good factor, that is priceless.
Britain did very quickly get a FTA with Australia which farmers are very happy with apparently.
The only downside was the change to backpacker visa rules where working in remote areas was no longer compulsory for British backpackers, they can take jobs in cites.
Since then I have noticed is that you rarely hear workers in roadhouses etc with British accents, they all seem to be from the rest of Europe especially Scandinavia.
In a way it is a pity because they can make serious money working in remote areas and it is a very interesting experience that they won’t get anywhere else
They removed the ability to offset mortgage interest against rental income some years back. That was to reduce the appeal of buy to let.
The UK also changed tax rules and I believe there’s now a quota system or the Aus $ is stronger so we rarely now hear Antipodean accents here. They used to be a fun crowd.
But leave voters knew what they were voting for…
another situation where the rush for change was poorly planned and then badly administered. I felt the same way about Brexit as I do about rushed changes such as this mansion tax. It all ends up costing vast amounts to administer which negates any benefits and eventually we end up exactly where we were to start with, but the government of the day end up with peerages and a nice income for life.
Thanks Primus, unexpected, and a much appreciated response.
However…We have done brexit to death on other threads, and I’m not one to go off topic, which we seem to wandering… 
But if it was appropriate for a response I would have said…
I totally dispute those figures and suspect they were compiled by some disgruntled remainers.
The impact on jobs were due to the fact that our industries were sent to the cheapest manufacturers, which were usually found in EU countries. I personally know that the large long standing tractor plant (formerly International Harvesters) based here in Doncaster, was sent to Italy with the loss of thousands of local engineers and other ancillary staff.
The site has been turned into a massive new housing estate.
Exports were sent all over the world, not just to EU countries and the coal and steel industries were the one of the most exported goods coming out of the UK, after the demise of the motor industry…Which has been filled by mainly German, French vehicles…No surprise there then. And we all know what happened to the steel and coal mining industries. Although I admit, not all the fault of the EU, but they must shoulder some of the blame.
Increased energy cost have nothing to do with Brexit, unless the EU forced net zero onto us.
Our inept governments decided to close all the coal fired power stations prematurely, and in just twenty years, spewed out thousands of wind turbines and solar panels (some of which are not even connected to the grid yet due their remote siting) so who paid for all that…? We did! on our bills.
Lost productivity! Of course there’s lost productivity, we buy everything from China.
So no proper jobs, all the young folk being sent to University instead of being put to work, and nobody wanting to go to work when the benefits are usually higher than the minimum wage. And as I mentioned earlier, no manufacturing jobs because all our manufacturing is done in foreign countries so a decrease in income.
And I’m not even going to get into the open door policy dumped on us when we were members of the EU.
However, mis spending and lack of interest by our government on leaving the EU meant it was very poorly managed…Grudgingly by politicians who had to find other ways of riding on the EU gravy train.
Fear not Foxy. Lammy has let the cat out of the bag and kinda hinted that the game plan is to reverse Brexit.
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Yeah! I bet they won’t moan about the cost of going back in…and all our money counted in Euro’s. That was expressed by the EU should we ever want to refresh our membership.
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On the plus side, at least we’ll be able to get through border control more quickly when we go on holiday, and know that the fish supper we buy in (eg) Spain will have been sourced off the coast of old Blighty.
Having said that, I could actually get a dual nationality passport anyway, due to daddy being a Pole.
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I was always astonished at how little of the delicious fresh seafood, local wine and other delicacies in places like Spain reached our supermarket shelves and if any sneaked in they would have a premium price. It just goes to show that there were plenty of trade barriers at our end.
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Are you referring to pre or post Brexit?
That nails it, 95% of this population ain’t bovvered as to what “Might” or what “Might Not” have been the effect on the economy, they’re just narked its more of a malarkey getting through border controls 
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pre Brexit. Free trade was a bit of an illusion as there seemed to be various non legislative barriers anyway. Perhaps in part the currency exchange complications but also various competitive barriers to entry
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