£700 a year on a £350k house?
If it's 20% of the imputed rent surely a £350k house would rent for more than £3,500 a year?
This quote is hilarious:
Trevor Leggett, Chief Executive of French estate agents Leggett Immobilier, said: 'The French property market has only just weathered the storm created by the incompetence of the banking sector, and could now be led into even more turbulent waters by the political manoeuvring of the current government.
'This proposed tax of 20 per cent is an idea that came about without any consultation of those of us within the industry.
'With the current, favourable, taxation regime in France an increasing number of UK and European citizens are looking to retire over here and we believe that there are far more efficient and equitable ways for the government to balance the books. '
Even little estate agents have a "Chief Executive"
The French property market bubbled because of the banks
An estate agent (English) wants the French government to ask his permission about what they can do! (France is not like the UK!)
People retiring over there will not have to pay this new tax - if more people sell up it's good news for them if prices fall
This post has been edited by Redhat Sly: 12 June 2011 - 10:34 AM
If you say "democorruptcy" quickly, it sounds a bit like "democracy". In a "democracy" people vote for politicians who represent their interests. In the UK's "democorruptcy" people can only vote for expense fiddling thieving MPs who are in the hip pocket of big business and the finance sector.
The Funding for Lending Scheme (FLS) is stealing from savers to make them pay for crimes by bankers. Via lower interest on savings, all the bank fines for PPI, LIBOR and interest rates swaps are now being paid by savers so that bankers can keep pocketing bonuses.
"We need to make a really big change: from an economy built on debt to an economy built on savings" - David Camoron Jan 2009
"Printing money is the last resort of desperate governments when all other policies have failed" - George Osborne Jan 2009
- So what do Camoron & Osborne do? Print money and leave interest rates at 0.5% when inflation is over 5%
If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
Did you recognise the two robbers in my avatar? Clue: One got a knighthood and inflation linked pension, the other a 150 year prison sentence.