In a recent article by John Healy, the UK Labour Party’s Shadow Secretary of State for Housing, he contrasts the tens of thousands of children who sleep in shelters every night with those who are able to afford a second (or more) holiday home that is occupied only a few weeks of the year.
Healy’s suggestion: a tax on holiday homes which could be used as a revenue stream* for building more affordable housing. His proposal is more of a vague ‘fair and equitable’ idea than a detailed proposal (the Labour Party, out of power, would have no way of implementing such a tax anyway). Thus, there was no mention of a mechanism such as a an affordable housing trust fund*, which might receive levies and disburse them.
Still, it is an interesting idea, one not likely to be considered fair and equitable, though, by the very influential class of people who have more than one home! Read more in the Independent: Why a national levy on holiday homes would give homeless families the housing they need
* Trust funds are a tool used to build housing that is affordable for people with low incomes. Trusts need ongoing funding to accomplish ongoing missions.
**A revenue stream is typically identified to provide the funding. Taxes or fees are examples. The identification of a revenue stream is a statement of intent only. The funding is actually allocated through budget approvals.
