Proposed policy changes immediately following the election results have put many home owners up in arms and the Prime Minister on the defensive as Cameron proposes a hike to the value added tax rate for all properties that are a home owner’s second home – raising the current 18% rate for the same homes up to 40 to 50 percent.

This move, as explained by Cameron, is designed to help curb the current market trend where many home owners already with substantial portfolios of their own are looking to take advantage of the currently low mortgage rates offered on both tracker and fixed-rate mortgages to expand into the market, pushing many other prospective buyers – including nearly a whole generation of first-time buyers – out of the market entirely.

Opponents to the move claim that this will effectively target the backbone of the UK society, the middle class, and force them to pay penalties to help support other struggling families that have found themselves in a difficult position due to poor debt management. Additionally they feel that this will be a direct blow to many who have developed their own wealth through hard work and dedication to developing their surroundings while offering jobs to countless individuals.

Supporters for the move, including Cameron, have backed this proposed tax rate increase as a fair way to provide greater opportunities for all and encourage much more comprehensive support for all residents throughout the country. Additionally they feel this will be a boon rather than a burden to those entrepreneurial individuals that wish to develop businesses as the new tax does not target any business-related dealings and will enable businesses to still benefit from significantly lower tax rates than they may face otherwise.

The proposed bill is still up for discussion, though as of this moment Cameron is losing many of the Tory supporters he relied upon to secure the election over the past few weeks due to this new possible new change and the lack of trust in many of the promises he made pre-election.