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The Budget 2017
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 Stirlingsays  22 Nov 17 2.49pm |
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Originally posted by Hrolf The Ganger
How can the government possibly hope to over take the housing problem and increase wages and improve the NHS with 300k new people coming here every year? It makes no sense at all. At least the national debt is under control. The housing problem is not a Tory nor Labour problem as it has been caused by both. No government can be expected to fix this within their term as it is a generational issue that will take probably three or four terms of committed action. However, this government or indeed any government should take responsibility for building houses far beyond the rate of people coming here......that has been a criminal policy by previous governments......instead it's been economies in part backed on housing prices.....no brainer economics This problem has been allowed to get to ridiculous levels by a stunning level of neglect of national responsibility that would shame the old Tory and Labour post war parties. Governments must take responsibility for ensuring that basic provision is provided......They are the ones who created the problem by chasing short termist policies: now solve the problem they helped create. Edited by Stirlingsays (22 Nov 2017 3.08pm)
'Who are you and how did you get in here? I'm a locksmith. And, I'm a locksmith.' (Leslie Nielsen) |
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| steeleye20 Croydon 22 Nov 17 2.53pm |
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Small print alert: OBR says stamp duty cut will push up prices and help owners not first-time buyers The Office for Budget Responsibility is damning about Philip Hammond’s proposal to abolish stamp duty for first-time buyers for homes worth up to £300,000. This is what it is saying. The OBR says the stamp duty cut will push house prices up. It says it expects this policy to increase prices by 0.3%. Most of this effect will occur in 2018, it says. Do the OBR and the Treasury not talk?
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| Mstrobez 22 Nov 17 2.55pm |
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Originally posted by steeleye20
Do agree, a short term tax cut is about the zenith of tory economic policy. It's the thing that most irks me about the Tories. They're not stupid. Philip Hammond isn't a moron, he knows it's complete bollox, a teenager can work out the concept of supply and demand. Yet he'll happily implement it for a headline and undoubtedly many average guys on the street will fall for what is complete nonsense.
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| Sewer Rat bromley 22 Nov 17 2.58pm |
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Originally posted by Hrolf The Ganger
For the increasing influx of foreigners? If we sent back every foreigner that has committed a crime, does not work or pay taxes and those that are illegal immigrants we would not have a housing shortage.
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| hedgehog50 Croydon 22 Nov 17 2.58pm |
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Originally posted by steeleye20
Small print alert: OBR says stamp duty cut will push up prices and help owners not first-time buyers The Office for Budget Responsibility is damning about Philip Hammond’s proposal to abolish stamp duty for first-time buyers for homes worth up to £300,000. This is what it is saying. The OBR says the stamp duty cut will push house prices up. It says it expects this policy to increase prices by 0.3%. Most of this effect will occur in 2018, it says. Do the OBR and the Treasury not talk? All taxes, controls, interest rate tampering etc on housing should be scraped and the market allowed to supply demand and determine prices. Edited by hedgehog50 (22 Nov 2017 2.59pm)
We have now sunk to a depth at which the restatement of the obvious is the first duty of intelligent men. [Orwell] |
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| CambridgeEagle Sydenham 22 Nov 17 3.02pm |
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Originally posted by Lyons550
Interesting bits on housing £44bn capital funding to boost skills, land, SME Builders Loan, Urban Regenration, and Local Council HRH Caps to be reduced. Planning reform for Urban areas to allow Local Authorities to grant homes for 1st time buyers, and to look into why 170+ planning permissions granted in London haven't seen the building built. If this land is being withheld for commercial rather then development reasons then possibly open to Compulsory Purchase. Also for 1st Time Buyers, removal of stamp duty for homes up to £300k as of TODAY (good) Edited by Lyons550 (22 Nov 2017 1.37pm) As pointed out by the OBR this is only good for current property owners.
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| Mapletree Croydon 22 Nov 17 3.02pm |
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Originally posted by hedgehog50
All taxes, controls, interest rate tampering etc on housing should be scraped and the market allowed to supply demand and determine prices. Edited by hedgehog50 (22 Nov 2017 2.59pm) Good thinking. So no planning permissions, protection of green belt or any other controls. That will go well.
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| CambridgeEagle Sydenham 22 Nov 17 3.04pm |
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Originally posted by hedgehog50
All taxes, controls, interest rate tampering etc on housing should be scraped and the market allowed to supply demand and determine prices. Edited by hedgehog50 (22 Nov 2017 2.59pm) To an extent yes, but property is also an asset so you need some tax on its gains. Transaction taxes are inefficient though. A land value tax would be effective and productive. Supply needs to be stimulated where the market fails to produce sufficient homes and homes of sufficient quality. Regulation is also needed to ensure standards are kept and development is environmentally friendly.
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| EverybodyDannsNow SE19 22 Nov 17 3.06pm |
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The stamp duty exemption is not just for homes up to £300k - the first £300k of a £500k purchase would be exempt, for a first time buyer obviously. A good step in my opinion.
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| CambridgeEagle Sydenham 22 Nov 17 3.07pm |
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Originally posted by Sewer Rat
If we sent back every foreigner that has committed a crime, does not work or pay taxes and those that are illegal immigrants we would not have a housing shortage. Oh dear. Please may I see the research behind this statement. If you kicked out all of the indigenous population for whom the same can be said you'd stand a much better chance!
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| CambridgeEagle Sydenham 22 Nov 17 3.08pm |
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Originally posted by Mstrobez
It's the thing that most irks me about the Tories. They're not stupid. Philip Hammond isn't a moron, he knows it's complete bollox, a teenager can work out the concept of supply and demand. Yet he'll happily implement it for a headline and undoubtedly many average guys on the street will fall for what is complete nonsense.
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| CambridgeEagle Sydenham 22 Nov 17 3.11pm |
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OBR's assumptions had to be based on May's Florence Speech in regards to post-Brexit Britain. So basically the government's idea of what Brexit means hasn't developed at all in 2 months, from a position which was extremely unclear and woolly headed at the time. Expect the GDP growth figures to undershoot these already meagre forecasts unless the government ups its game sometime very soon.
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