Chancellor Hammonds £10,000 pm rental income

[JustAnotherProle]

I know its the Mirror but still it shows a good example why the political class has no interest in changing the status quo when it comes to wages,housing affordability or housing availability in the UK.

 

http://www.mirror.co.uk/news/politics/chancellor-philip-hammond-calls-nurses-10811785

 

Quote

“This is a relative question,” he said. “It is a simple fact that public sector workers on average are paid about 10% more than private sector workers.

“The only way we can create the high wage economy we want to have sustainably is to increase productivity, to get our public finances into good order. There isn’t a short cut. There isn’t a free lunch.”

Maybe not for ordinary people. But Mr Hammond, who earns £67,505 as Chancellor on top of his MP salary of £74,000, moved rent-free into 11 Downing Street last year after he was promoted by Theresa May.

But we can reveal he ­advertised his five-bedroom townhouse in Belgravia, South West London, for £2,500 a week – enough to pay for five full-time nurses.

 

Quote

He also enjoys free use of ­Dorneywood, a Buckinghamshire mansion owned by the National Trust which is handed over for use by ­Chancellors or other top ministers.

And a Channel 4 Dispatches programme revealed last week that Mr Hammond could make millions in a deal with a firm if land next to his constituency home in Surrey gets planning permission.The Chancellor bought the ­greenbelt three-acre plot for £100,000 in 2008 from a housebuilder with an option to sell it back for a potential £6million and split the profits equally. 

 

I know that nobody on this site will be surprised that this is going on in Westminster, but if we really want change we shouldn't be paying people like this to basically laugh at the public struggling to survive whilst sucking from the tax payers like a suit wearing mosquito.

Edited July 17, 2017 by JustAnotherProle

[ThoughtCriminal]

Strangely the mirror didn't run stories like this in labour politicians. How odd.

 

It's also a massive non-sequitur: his rental income may be nauseating but it doesn't invalidate his assertion on public sector pay.

[JustAnotherProle]

1 minute ago, ThoughtCriminal said:

Strangely the mirror didn't run stories like this in labour politicians. How odd.

 

It's also a massive non-sequitur: his rental income may be nauseating but it doesn't invalidate his assertion on public sector pay.

Yes exactly, they have basically tried to connect the two issues and done it badly. I just thought it highlights the whole MP greed and VI connected with housing, would be nice to see some Labour MP's getting the same treatment, they are all in the game.

[GreenDevil]

Here's another scumbag with a vi in btl and increasing population for the good of his btl empire.

https://www.bloomberg.com/news/articles/2017-07-14/blair-says-u-k-should-keep-open-the-option-of-staying-in-eu

[rollover]

Quote

The ONS has published some killer statistics. Earlier this year they estimated that public sector employees were paid on average 7.7-8.7% more than those in the private sector. Daily Mail

That was back in 2012. And thats after public sector salary freezes.

[stormymonday_2011]

42 minutes ago, ThoughtCriminal said:

Strangely the mirror didn't run stories like this in labour politicians. How odd.

 

It's also a massive non-sequitur: his rental income may be nauseating but it doesn't invalidate his assertion on public sector pay.

Hammond is able to accrue that rental from his former residence  by dint of the Number 11 Downing St  and other public property he gets to use as home as a perk of his role as Chancellor of the Exchequer. So I would think it is relevant as most nurses, teachers etc don't get that sort of perk in their jobs.

[JustAnotherProle]

15 minutes ago, GreenDevil said:

Here's another scumbag with a vi in btl and increasing population for the good of his btl empire.

https://www.bloomberg.com/news/articles/2017-07-14/blair-says-u-k-should-keep-open-the-option-of-staying-in-eu

I was sick of seeing his face on the idiot box this weekend, as if the King of Rentier Scum is going to be for border controls when he has 30 odd BTL's that need to be filled.

Edited July 17, 2017 by JustAnotherProle

[iamnumerate]

I wonder why he supports free movement of potential renters?

[Bruce Banner]

1 hour ago, ThoughtCriminal said:

Strangely the mirror didn't run stories like this in labour politicians. How odd.

 

It's also a massive non-sequitur: his rental income may be nauseating but it doesn't invalidate his assertion on public sector pay.

Problem is they're all as bad as each other, our political system encourages personal greed and vested interests.

Perhaps the answer would be to introduce "Direct Democracy".

[Sancho Panza]

1 hour ago, ThoughtCriminal said:

Strangely the mirror didn't run stories like this in labour politicians. How odd.

 

It's also a massive non-sequitur: his rental income may be nauseating but it doesn't invalidate his assertion on public sector pay.

Mystery over how disgraced Labour MP Keith Vaz managed to build up a £4million property portfolio on a £90,000 salary

 

 

 

 

[iamnumerate]

7 minutes ago, Bruce Banner said:

Problem is they're all as bad as each other, our political system encourages personal greed and vested interests.

Perhaps the answer would be to introduce "Direct Democracy".

A wonderful idea.

[mathschoc]

45 minutes ago, stormymonday_2011 said:

Hammond is able to accrue that rental from his former residence  by dint of the Number 11 Downing St  and other public property he gets to use as home as a perk of his role as Chancellor of the Exchequer. So I would think it is relevant as most nurses, teachers etc don't get that sort of perk in their jobs.

Exactly 

[scottbeard]

1 hour ago, stormymonday_2011 said:

Hammond is able to accrue that rental from his former residence  by dint of the Number 11 Downing St  and other public property he gets to use as home as a perk of his role as Chancellor of the Exchequer. So I would think it is relevant as most nurses, teachers etc don't get that sort of perk in their jobs.

Not sure I agree - yes most public sector employees don't get free accommodation as part of their role, but then most don't get a salary the same as the Chancellor either; "should the Chancellor get free accommodation?" is a valid question to ask, but not really connected to "what should nurses be paid?".

Interestingly there are actually a lot of jobs that "come with" accommodation and people in them often rent out their previous house for the duration of the job (private school housemasters, state school caretakers, vicars  etc).  That isn't so unusual and is quite different in my mind from someone with a BTL portfolio.  In fact two people I know are in exactly the situation of being in "comes with the job" accommodation and both rent out the flats they lived in before taking the job up, and intend to move back into them one day.  Mr Hammond just happens to have rather grander previous accommodation.

 

[ThoughtCriminal]

4 hours ago, Sancho Panza said:

Mystery over how disgraced Labour MP Keith Vaz managed to build up a £4million property portfolio on a £90,000 salary

 

 

 

 

A labour politician who'd already been thrown to the wolves. How brave of them.

 

Apples and oranges.

[ThePrufeshanul]

8 hours ago, ThoughtCriminal said:

It's also a massive non-sequitur: his rental income may be nauseating but it doesn't invalidate his assertion on public sector pay.

Yes, what invalidates his opinion on public sector pay is that it's ****ing stupid. 

What's the private sector equivalent of our NHS surgeons? Or Navy admirals? Or judges?

Are their salaries meant to be equivalent to retail assistants flogging iphones in shopping malls?

[adarmo]

7 hours ago, rollover said:

That was back in 2012. And thats after public sector salary freezes.

Was it also before public sector:

• pensions
• annual leave
• sick leave
• payoffs

?

[adarmo]

8 minutes ago, ThePrufeshanul said:

Yes, what invalidates his opinion on public sector pay is that it's ****ing stupid. 

What's the private sector equivalent of our NHS surgeons? Or Navy admirals? Or judges?

Are their salaries meant to be equivalent to retail assistants flogging iphones in shopping malls?

What's the public sector equivalent of entrepreneur? Or wealth creators? 

What's the private sector equivalent of creating a housing shortage?

How many public sector non-job admins are there for every young student working part time in an iPhone shop?

[stormymonday_2011]

5 hours ago, scottbeard said:

Not sure I agree - yes most public sector employees don't get free accommodation as part of their role, but then most don't get a salary the same as the Chancellor either; "should the Chancellor get free accommodation?" is a valid question to ask, but not really connected to "what should nurses be paid?".

Interestingly there are actually a lot of jobs that "come with" accommodation and people in them often rent out their previous house for the duration of the job (private school housemasters, state school caretakers, vicars  etc).  That isn't so unusual and is quite different in my mind from someone with a BTL portfolio.  In fact two people I know are in exactly the situation of being in "comes with the job" accommodation and both rent out the flats they lived in before taking the job up, and intend to move back into them one day.  Mr Hammond just happens to have rather grander previous accommodation.

 

Hammond was making the point that perks such as a final salary pension form part of the public sector remuneration package. I think it is not unreasonable to point out that his job comes with a lot of benefits as well, many of which are quite valuable and are not necessarily transparent. Given the balls up he made of the last Budget it might be suggested he was grossly overpaid as well

As for state school caretakers, here in West Sussex they had their access  tied accommodation removed back in 2010.

Edited July 17, 2017 by stormymonday_2011

[stormymonday_2011]

16 minutes ago, adarmo said:

How many public sector non-job admins are there for every young student working part time in an iPhone shop?

A lot less than in 2010 if  the staffing levels of government departments is anything to go by. Down by over 100,000 posts

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/publicsectorpersonnel/bulletins/civilservicestatistics/2016

Edited July 17, 2017 by stormymonday_2011

[ThePrufeshanul]

8 minutes ago, adarmo said:

1. What's the public sector equivalent of entrepreneur? Or wealth creators? 

2. What's the private sector equivalent of creating a housing shortage?

3. How many public sector non-job admins are there for every young student working part time in an iPhone shop?

1. The public sector equivalent of entrepreneurs are...entrepreneurs. Many of them arise from the public sector. My research supervisor started a spin-out company that marketed a revolutionary new treatment for wound healing. Public sector workers also create wealth - for example, a surgeon putting implnts into a patient's spine so that he can return to work rather than spending a life stuck in rehab is creating wealth.

2. It's the democratic system that has created a housing shortage. Essentially, Tory and Tory-Lite governments enacting policy, overwhelmingly voted in by the private sector interests.

3. No idea, There are examples of poor management everywhere. If you think the private sector is a better and cheaper way of running (for example) the health, police, military etc then I think you would be in for a nasty surprise. I work as a doctor - I would be more than happy to charge you the market rate when you or your relative need my help at 3am on a Saturday morning, I estimate my take-home pay would triple but it's your choice.

[adarmo]

5 hours ago, ThePrufeshanul said:

1. The public sector equivalent of entrepreneurs are...entrepreneurs. Many of them arise from the public sector. My research supervisor started a spin-out company that marketed a revolutionary new treatment for wound healing. Public sector workers also create wealth - for example, a surgeon putting implnts into a patient's spine so that he can return to work rather than spending a life stuck in rehab is creating wealth.

2. It's the democratic system that has created a housing shortage. Essentially, Tory and Tory-Lite governments enacting policy, overwhelmingly voted in by the private sector interests.

3. No idea, There are examples of poor management everywhere. If you think the private sector is a better and cheaper way of running (for example) the health, police, military etc then I think you would be in for a nasty surprise. I work as a doctor - I would be more than happy to charge you the market rate when you or your relative need my help at 3am on a Saturday morning, I estimate my take-home pay would triple but it's your choice.

1. Not in the public sector is he if he leaves it to become an entrepreneur. Also, surely it is the private sector funding the surgeon in the first instance, and then said worker returning to work (presumably to the private sector in your example) that generates the wealth, not him paying a mandatory charge for health cover that patches him up?

2. And the public sector that came up with the green belt, and mental planning regimes, and building codes, and bribes (sorry development surcharges)

3. There are indeed but I was responding to the flippant diagonal comparison of doctors to iphone sales people. Incidentally, I estimate your take home pay would not triple, and the choice is not mine unfortunately otherwise you would be working out of office hours without the £6k dicking opt out or you'd be fully private with no NHS work. Incidentally what is this market rate and who actually pays it? is it the private sector covering it via taxes?

Edited July 17, 2017 by adarmo

[adarmo]

5 hours ago, stormymonday_2011 said:

A lot less than in 2010 if  the staffing levels of government departments is anything to go by. Down by over 100,000 posts

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/publicsectorpersonnel/bulletins/civilservicestatistics/2016

Thank goodness.

Ideally govt spending would be capped at 25%. 

[Beaker]

In a sort of warped way this tells me he's good with money, which is not a bad thing given his job. I'd be more worried if he was losing all his money in Nigerian Oil investments!

[Darby Ram]

1 hour ago, adarmo said:

1. Not in the public sector is he if he leaves it to become an entrepreneur. Also, surely it is the private sector funding the surgeon in the first instance, and then said worker returning to work (presumably to the private sector in your example) that generates the wealth, not him paying a mandatory charge for health cover that patches him up?

News just in: man with Bill Hicks avatar has some ill-informed opinions about how start-ups and entrepreneurs actually get off the ground, and where the money for seed investment and R&D comes from.

Aren't you constantly posting about how the government will backstop the price of the flat you've just bought? Not very Rand-ian of you... 

[adarmo]

Just now, Darby Ram said:

News just in: man with Bill Hicks avatar has some ill-informed opinions about how start-ups and entrepreneurs actually get off the ground, and where the money for seed investment and R&D comes from.

Aren't you constantly posting about how the government will backstop the price of the flat you've just bought? Not very Rand-ian of you... 

I will play devil's advocate for the sake of making the point. 

You think it all comes from the public sector? I would put it to you that the private sector is far more efficient at picking winners, the public sector far better at backing losers. Certainly the company I work for has been backed to the tune of billions in PE (that's Private, not Public, Equity). Without the use of Google can you name any large brands seed funded by the government? Perhaps MG Rover? . Here's the other thing, Private Sector investors have the choice about investing or not. In the Public Sector money is taken by law from tax payers and then 'invested'. The Tax Payer has no choice in the matter.

Do not get me wrong, we need a Public Sector and it is useful but it should remember that it is better remunerated and shielded from the risks of the Private Sector before it goes marching off for populist backing for pay rises. 

It's a house, not a flat. I do not expect (in an entitled sense of the word) the government to backstop the price of anything I've just bought, I just can't see the government opening up a new policy aimed at crashing house prices.