Sunday, Apr 12, 2009
Expect Property Prices to Crash soon the link said
Cebr: Tax Revenue from Financial Service Sector down £28 billion
This article was not from today but did a search for CEBR on Yahoo and the Yahoo heading for this article was " Expect the housing market to crash soon". CEBR in February said they saw:" 25 per cent drop in prices from the coming level and a 40 per cent drop in total – with stagnation through 2010 and 2011 and prices still below 2003 in 2013. " Yet it was the CEBR report that gave rise to the new reports all headed "Prices are Rising". This article said govenment to lose:
9 billion in corporation tax revenue, £10 billion from less income tax and National Insurance contributions, £2 billion from stamp duty and £3 billion from withholding tax. Adding in all the other sources of revenue, the total tax take is forecast by cebrto drop from £67 billion to £39bn and be long lasting
2 Comments
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1. quiet guy said...
That's a very scary report you've found sybil13. It's hard to see how we can balance the books without big cuts in the public sector.
2. it_is_going_with_a_bang said...
No need to ask why Monsieur Brown wasn't in a hurry to end the housing/finance for it boom.