Despite denials over the weekend by the Government that the Chancellor’s policy flip-flopping and multiple leaked tax proposals have damaged the economy, leading property industry figure Ed Mead says he is ‘very angry’ over the harm that has been done to the sector.

Mead, who founded viewings platform Viewber and before that was a senior executive at London agency Douglas & Gordon, made the comments within a video he recorded while out walking his dogs (main image), which has garnered a strong response on his LinkedIn profile.

He says: “I’ve been working within the property market for 40 years and I don’t think Rachel Reeves or any body else in Government who have never run their own business, have any idea what they are doing or realise that the property industry in the UK represents around 10% of the economy, which is an enormous number”, he says.

Mead goes on to point out that if any of Reeves’ leaked proposals, including CGT on properties worth over £1.5 million, are implemented it will freeze the market because, faced with a huge tax bill for moving home, people will simply ‘not move’.

It just completely ridiculous

“It just completely ridiculous – this Government is going to wreck the property market, and also every time someone moves they spend money on white goods, carpets and services,” he says, adding that he doesn’t believe Ministers understand how much local economies are reliant on the economic activity moving home creates.

“So I would urge anyone with influence on or connections to the Chancellor to persuade not to turn her attention to the property market in such a negative  way.”

Mead’s comments on LinkedIn were warmly supported by others within the industry who made comments on his video including Strutt & Parker Head of Sales James Gow, who added: “Spot on Ed. Flip flopping buffoons with very poorly thought through ideas”.