Closed petition Impose a heavy extra tax on foreign buyers of property over £3.5 million pounds.

Closed on 20 January 2016

British citizens are being priced out of almost every market - commercial property, central London, and especially land. This is due, in part, to wealthy foreign nationals buying our cities to use as second (or tenth) homes. This is only part of the issue, but it is a part that we can change.

Imposing a tax may sound like a harsh and grandiose, while essentially meaningless, step. However, house prices lowered reassuringly after George Osborne's reforms to stamp duty, and everybody was terrified of the much mis-guided "mansion tax." This tax, although similar in concept, would be implemented very differently. It would affect only foreign citizens, only properties worth over £3.5 million, and would pave the way to a market of real properties, not empty ghost homes for oil barons.