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Why not ?
It's not too high that it will only affect rich people as many "ordinary" people have an "ordinary" house that may well have now risen to the value of £300,00 and it is low enough to help those ordinary people.
I don't have access to information about how many houses there are across the country and what difference it would make to the Government coffers, so it sems to be a valuation that is not to high or too low.
Roger
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