The bizarre spectacle of an incoming UK Conservative government proposing an increase in Capital Gains Tax (CGT) from 18% to 40%-50%, has hit the UK housing market.
Protests from the right of the Conservative party, and delighted support from the Labour Party, followed the announcement.
A wave of panicky sales could push down UK prices in a significant way.
The right-leaning Daily Telegraph has launched a campaign against the proposed increases, and the BBC has criticized the chancellor for dithering and lack of media savvy. In its few weeks of existence, the new UK government has been amazingly accident-prone. Nevertheless, the UK pound continues to strengthen against the Euro.