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House Price Crash Forum


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About b0yc0tt

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    HPC Newbie
  1. One can take a view on the wisdom of such a rule change and - with the benefit of hindsight - one is certainly tempted to. What is beyond doubt though is that a rule change "available only to the biggest players" is fundamentally a bad thing. What kind of cretin even considers passing this kind of anti-competitive crap?
  2. We already have well over three million unemployed - they are just categorised differently. There are 2.7 million people on incapacity benefit for crying out loud!
  3. I'd like to be able to view individual house prices on a national basis, because I'd like to see the cheapest houses that have changed hands, wherever they are in the country. However, the online tools I have found so far work only for individual postcodes or towns. Does anyone know of a tool that works across the country?
  4. I am fed up with jobsworth civil servants claiming that their remuneration can't be that god because otherwise private sector employees would be beating down the door to take the civil service jobs. The fact is that those of us the private sector know very well that we would chafe in an organisation that spends so much of other people's money to so little effect and that we would be unable to make much difference. Furthermore, the most important aspect of the remuneration package - the gold-plated DB pension scheme - delivers its main benefit only if one spends an entire career in the civil service. Many of us cannot think of any worse prospect. The continued presence of a DB scheme for civil servants is not only an affront to those of us forced to pay for it, but it is also a barrier to entry to many of the competent people that would consider a spell in the civil service.
  5. Income tax is a crap tax. By driving a wedge between what it's worth an employer paying for a piece of work and what an employee actually receives it guarantees that there will be unemployment, condemning people to a life on benefits with no prospect of work.
  6. "Essentials such as food should be VAT free" Why? Fuel is essential - whether one pays directly as car user or indirectly through goods purchased - but the incidence of tax on fuel is high. Surely a distinction like this simply introduces complexity? After all, under the current system, apparently children require clothing but adults do not.
  7. Despite starting your post with "No", you haven't disputed any part of my post, but apparently maintain your belief that VAT is an appalling tax. VAT may be regressive, but so is the current system of direct tax and welfare payments. My post suggested avoiding the regressive downside of VAT by taking the poor out of income tax, something that would reward the hard working and diminish unemployment. Incidentally, while I appreciate your point (the poor spend proportionately more of their income on staples that are currently VAT exempt), I don't understand your statement that "If you earn more the proportion effect on cheap items is distorted in your favour and you don't notice the increase as much". Nor do your examples make sense, because higher earners spend more on both VAT payable and VAT exempt items.
  8. Agreed they won't, but it would be the right thing to do. The present divide between Vat payable and Vat exempt is based on a Tory manifesto from the 1970s, rather than any logic. If one believes in global warming, then Vat on fuel should never have attracted any controversy whatsoever (though clearly it would have been somewhat easier to introduce with Brent at $30!)
  9. "VAT is an appalling tax, is mostly a burden on the poorest and should be scrapped with income tax raised to cover the lost income" No, it isn't. Taxing consumption is a sensible means of raising revenue. Far more sensible than taxing employment, which simply results in more unemployment, a greater burden on the welfare state and higher taxes for those still in work. VAT should be levied on everything and the resultant revenues (once some of Brown's ludicrous spending commitments are reversed) used to ensure that income tax, employee NI and employer NI are not charged on low-income employees. This would reward those that choose to work rather than rely on benefits and would avoid the extension of VAT hurting the working poor unduly.
  10. Has the builders' distress already started? The Miller CEO's quote seems to imply things were rather less than secure before HBOS stumped up: '“Bank of Scotland’s investment will enable them to be a supportive shareholder to help us through the long term and this gives us a much more secure footing to take advantage of opportunities,” Miller said.' http://business.timesonline.co.uk/tol/busi...icle3688476.ece
  11. There’s certainly nothing wrong with being a FTB in one’s early twenties. Rather, it is wrong to EXPECT that everyone should be able to be a FTB in their early twenties. This government, with its rhetoric and undue interference in private transactions, helped create such an expectation. Given that the government also loaded ever-increasing numbers of young people with substantial debt from their university years, this was always likely to prove unsustainable.
  12. Could we ensure that we remember that the government’s fingerprints are all over this house price crash? They propounded the absurd idea that everyone, including first time buyers in their early twenties, should be able to achieve home ownership. They dismantled Britain’s defied benefit pension schemes and attacked the financial services sector through their “rip-off Britain” campaign, causing millions of people to move their pensions savings into property. They forced pension funds to sell out of equities (at the nadir of the equity markets) and move into fixed income products, promoting massive demand for bonds and allowing credit to become absurdly cheap. They fixed the inflation measurement so that base rates remained too low for too long.
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