Property Tax = 25% of Government Revenue 2006

I doubt that includes a lot of the downstream revenue generated in everything from Solicitors income tax to the VAT earned on furnishing all these houses.

I don’t imagine it does.

We really are up the creek aren’t we. I don’t envy the next government having to cope with several billion of a budgetary shortfall.

I would expect that the “bouyant” returns for 2006 would reflect sales nailed between the last few months of 2005 and the first 9 months of 2006.

I am no expert but stamp duty, VAT etc. is probably paid when new units are completed not when the contracts are signed, so there must be a lag of about a year or so before this indicator goes into decline.

The frightening part is that even the government doesnt know what way its finances are going to be from one year to the next,talk about not being in control :open_mouth: .

…en dats why a fool and his money must surely depart…