The Budget 2017

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The Budget 2017

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jamiemartin721 Reading 22 Nov 17 5.09pm
Originally posted by Hrolf The Ganger You keep trotting that out but people own those homes. They are entitled to do what they want with them. Well to an extent I would agree, however there is a question as to which is more important, their private ownership of a property, or the crisis of housing in the UK. I would argue there is a reasonable compromise to be made here - I don't think, you could just 'take those properties into public ownership', but when we have a situation where accommodation is bordering on the unaffordable even for rental properties ten years ago no one wanted to live in - its a problem. "One Nation Under God, has turned into One Nation Under the Influence of One Drug" [Link]
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jamiemartin721

Reading 22 Nov 17 5.09pm

Originally posted by Hrolf The Ganger

You keep trotting that out but people own those homes.

They are entitled to do what they want with them.

Well to an extent I would agree, however there is a question as to which is more important, their private ownership of a property, or the crisis of housing in the UK.

I would argue there is a reasonable compromise to be made here - I don't think, you could just 'take those properties into public ownership', but when we have a situation where accommodation is bordering on the unaffordable even for rental properties ten years ago no one wanted to live in - its a problem.

"One Nation Under God, has turned into One Nation Under the Influence of One Drug"
[Link]

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steeleye20 Croydon 22 Nov 17 5.09pm
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steeleye20

Croydon 22 Nov 17 5.09pm

zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz yawn

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Stuk Top half 22 Nov 17 5.10pm
Originally posted by CambridgeEagle Rent is a gain derived from owning the asset. And you'd pay income tax on it. There's no rent if you're living in it, or simply not renting it out either. Optimistic as ever
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Stuk

Top half 22 Nov 17 5.10pm

Originally posted by CambridgeEagle

Rent is a gain derived from owning the asset.

And you'd pay income tax on it.

There's no rent if you're living in it, or simply not renting it out either.

Optimistic as ever

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CambridgeEagle Sydenham 22 Nov 17 5.11pm
Looking through the budget in some detail, it's striking that nothing has been done to correct the inequalities between generations. Nothing in there whatsoever that makes the baby boomer generation pay a even a tiny bit more to improve the lot of younger generations battling through a living standards regression, cuts in services and a broken housing market. A bad budget for London as well, with cuts to policing, no funding for anti-terrorism, SDLT cuts a gimmick that will only make property even more unaffordable, an inadequate response to clean air requirements and no diesel scrappage scheme. A poor budget that just prolongs the pain of austerity for millions up and down the country, with more additional funds being made available for a no-deal brexit than for the NHS. A nothing budget, from a nothing government, simply looking to shuffle along zombie-like and dragging us along through the mud with them. edit - one positive is bringing overseas owners of UK commercial property within the scope of CGT. About time. Edited by CambridgeEagle (22 Nov 2017 5.14pm)
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CambridgeEagle

Sydenham 22 Nov 17 5.11pm

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Looking through the budget in some detail, it's striking that nothing has been done to correct the inequalities between generations. Nothing in there whatsoever that makes the baby boomer generation pay a even a tiny bit more to improve the lot of younger generations battling through a living standards regression, cuts in services and a broken housing market.

A bad budget for London as well, with cuts to policing, no funding for anti-terrorism, SDLT cuts a gimmick that will only make property even more unaffordable, an inadequate response to clean air requirements and no diesel scrappage scheme.

A poor budget that just prolongs the pain of austerity for millions up and down the country, with more additional funds being made available for a no-deal brexit than for the NHS.

A nothing budget, from a nothing government, simply looking to shuffle along zombie-like and dragging us along through the mud with them.

edit - one positive is bringing overseas owners of UK commercial property within the scope of CGT. About time.

Edited by CambridgeEagle (22 Nov 2017 5.14pm)

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CambridgeEagle Sydenham 22 Nov 17 5.12pm
Originally posted by Stuk And you'd pay income tax on it. There's no rent if you're living in it, or simply not renting it out either. The suggestion from another poster was to have zero tax on property. I was pointing out that as gains derive from property it was right to tax those gains, whether income or capital.
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CambridgeEagle

Sydenham 22 Nov 17 5.12pm

Originally posted by Stuk

And you'd pay income tax on it.

There's no rent if you're living in it, or simply not renting it out either.

The suggestion from another poster was to have zero tax on property. I was pointing out that as gains derive from property it was right to tax those gains, whether income or capital.

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Stuk Top half 22 Nov 17 5.16pm
Originally posted by CambridgeEagle The suggestion from another poster was to have zero tax on property. I was pointing out that as gains derive from property it was right to tax those gains, whether income or capital. Fair do. I don't agree with a land value tax though. The way it is now is fine, but I'd get rid of stamp duty altogether. Optimistic as ever
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Stuk

Top half 22 Nov 17 5.16pm

Originally posted by CambridgeEagle

The suggestion from another poster was to have zero tax on property. I was pointing out that as gains derive from property it was right to tax those gains, whether income or capital.

Fair do.

I don't agree with a land value tax though. The way it is now is fine, but I'd get rid of stamp duty altogether.

Optimistic as ever

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Hrolf The Ganger 22 Nov 17 5.16pm
Originally posted by CambridgeEagle If history started in 2010 I would agree with you. Partisan nonsense. This is a deep seated problem that has been around for years.
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Hrolf The Ganger

22 Nov 17 5.16pm

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Originally posted by CambridgeEagle

If history started in 2010 I would agree with you.

Partisan nonsense.

This is a deep seated problem that has been around for years.

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CambridgeEagle Sydenham 22 Nov 17 5.19pm
Originally posted by Stuk Fair do. I don't agree with a land value tax though. The way it is now is fine, but I'd get rid of stamp duty altogether. Listen to Ed Miliband's podcast episode on that very topic. Quite interesting points. I found it quite compelling having not been massively in favour. Ed's all the rage these days it seems, with the Tories taking another one of his policies today (to stop developers land banking). Boris once described it as "Mugabe-esqe". U-turn Tories. I agree with abolishing stamp duty. Edited by CambridgeEagle (22 Nov 2017 5.20pm)
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CambridgeEagle

Sydenham 22 Nov 17 5.19pm

Originally posted by Stuk

Fair do.

I don't agree with a land value tax though. The way it is now is fine, but I'd get rid of stamp duty altogether.

Listen to Ed Miliband's podcast episode on that very topic. Quite interesting points. I found it quite compelling having not been massively in favour. Ed's all the rage these days it seems, with the Tories taking another one of his policies today (to stop developers land banking). Boris once described it as "Mugabe-esqe". U-turn Tories.

I agree with abolishing stamp duty.

Edited by CambridgeEagle (22 Nov 2017 5.20pm)

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Hrolf The Ganger 22 Nov 17 5.22pm
Originally posted by jamiemartin721 Well to an extent I would agree, however there is a question as to which is more important, their private ownership of a property, or the crisis of housing in the UK. I would argue there is a reasonable compromise to be made here - I don't think, you could just 'take those properties into public ownership', but when we have a situation where accommodation is bordering on the unaffordable even for rental properties ten years ago no one wanted to live in - its a problem. What is the situation with empty properties generally? Are they left empty to rot because no one has claimed them after someone's death? Some must be owned for the land value.
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Hrolf The Ganger

22 Nov 17 5.22pm

Originally posted by jamiemartin721

Well to an extent I would agree, however there is a question as to which is more important, their private ownership of a property, or the crisis of housing in the UK.

What is the situation with empty properties generally? Are they left empty to rot because no one has claimed them after someone's death?
Some must be owned for the land value.

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CambridgeEagle Sydenham 22 Nov 17 5.25pm
Originally posted by Hrolf The Ganger Partisan nonsense. This is a deep seated problem that has been around for years. Look at OBR: [Link] Clear trend pre-GFC of c.2% per annum growth. Clear post Tory trend of stagnation. Also clear gap between us and other developed economies. The French make in 4 days what we manage in 5.
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CambridgeEagle

Sydenham 22 Nov 17 5.25pm

Originally posted by Hrolf The Ganger

Partisan nonsense.

This is a deep seated problem that has been around for years.

Look at OBR:

[Link]

Clear trend pre-GFC of c.2% per annum growth. Clear post Tory trend of stagnation.

Also clear gap between us and other developed economies. The French make in 4 days what we manage in 5.

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Hrolf The Ganger 22 Nov 17 5.27pm
Originally posted by CambridgeEagle Listen to Ed Miliband's podcast episode on that very topic. Quite interesting points. I found it quite compelling having not been massively in favour. Ed's all the rage these days it seems, with the Tories taking another one of his policies today (to stop developers land banking). Boris once described it as "Mugabe-esqe". U-turn Tories. I agree with abolishing stamp duty. Edited by CambridgeEagle (22 Nov 2017 5.20pm) No thanks. He is a failed Labour politician who is not in government. This budget is good for business because business says so. What Labour politicians think is hot air.
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Hrolf The Ganger

22 Nov 17 5.27pm

Originally posted by CambridgeEagle

I agree with abolishing stamp duty.

Edited by CambridgeEagle (22 Nov 2017 5.20pm)

No thanks. He is a failed Labour politician who is not in government.

This budget is good for business because business says so.
What Labour politicians think is hot air.

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Hrolf The Ganger 22 Nov 17 5.29pm
Originally posted by CambridgeEagle Look at OBR: [Link] Clear trend pre-GFC of c.2% per annum growth. Clear post Tory trend of stagnation. Also clear gap between us and other developed economies. The French make in 4 days what we manage in 5. You actually believe that this would improve under red Jeremy's Labour? Ha ha ha.
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Hrolf The Ganger

22 Nov 17 5.29pm

Originally posted by CambridgeEagle

Look at OBR:

[Link]

Clear trend pre-GFC of c.2% per annum growth. Clear post Tory trend of stagnation.

Also clear gap between us and other developed economies. The French make in 4 days what we manage in 5.

You actually believe that this would improve under red Jeremy's Labour? Ha ha ha.

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