LONDON - THE MYTH THAT LONDONERS SUBSIDIZE NORTHERNERS
 


Most Londoners (the top HAVE-YACHTS and the middle HAVES) are subsidized by the capital payments which they receive as gains on property (especially owners of multiple properties). A million pound property which added 10% value in 2006 represented a £ 100,000 capital gain. It is unlikely that the owner paid £ 100,000 in income tax.

Despite millions of Londoners ending up in pocket on this annual tax scam, Londoners and their press spokesman are always propagating the untruth that they subsidize the North. Londoners and the South Easterners do contribute part of the £ 150 Billion income tax paid to Gordon Brown every year, some of which goes as messy hand outs to Northerners.
But let us repeat the truth again, since the lie was given wings one hundred times during 2006 alone, especially by (then) Mayor Livingstone, London property owners have been granted annual windfalls on their houses of up to £ 60 billion each year since New Labour came to power.
These utterly cancel out income tax payments by Londoners as a whole (so Londoners who do not own homes also have their pockets raided by the London HAVES).

This big lie leads to further deception (dissimulation):-

1) Londoners need help with the Olympics from the Treasury and Lottery. Already, small charities throughout the country are readying themselves for oblivion. Londoners can afford and must be made to pay for the Olympics from their property hoard of capital.

2) Thames Link and CrossRail are stalled in the sidings because lack of political will and commitment of Treasury finance. These two projects even if they were finally to cost £ 20 billion can be financed from less than a year's increase in London's property hoard. Furthermore, this £ 20 billion will cause a massive increase in land values estimated to be as £ 60 billion. Thus, the projects are actually self-financing if the land owners of London are forced to pay sums in proportion to their share of this massive windfall.
The Olympics, CrossRail & ThamesLink have nothing to do with Middle, North and South West England, let alone Wales, Scotland and Northern Ireland. Why should they be penalized twice for London? The next call will be for help to create a new flood barrier. London's land values - and those who now benefit unearned from it - can afford to pay for the lot. Easily and painlessly, with no damage to Londoners or London's real Economy.

 

 

 

 

 

 

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