Complicated, vague and unclear. Thought we were about evidence based policy - this policy is as aspirational as my own Tax suggestion. We already have an asset tax on property - rates. Good example of knowing the price of everything and the value of nothing. To some of us a house is not a financial asset but a home for our family. This policy will encourage a spend society: if I have the option of spending on a holiday (which will be mentally enriching) or making my home more comfortable (increasing the value and the amount of asset tax) I'll be more likely to take the holiday. We may end up with run down housing stock and consequent housing standards. We have always viewed home ownershipas a symbol of financial freedom: if this the the cultural change being advocated I for one don't want it.
Do you like this suggestion?