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Everything posted by Dorkins

  1. Dual income couple so £500x2 = £1k less pa available to spend on housing. That's what, 8-10% of what a typical younger couple spends on housing each year? Plus that couple is also about to spend another few hundred quid a year each on the health and social care levy and another few hundred on higher gas and electricity bills so getting on for a £2k pa drop in household ready cash, almost overnight. At current interest rates and assuming a 30 year repayment mortgage that £2k is probably servicing about £50k of mortgage debt which is around 20% of the average UK house price. Seems significant to me.
  2. We're mainly doing it to pile up capital while the going is good in my industry but unless something changes fairly dramatically with the UK economy it's not a long term option.
  3. Family help is the FTB deposit (relatively small part of the house price) and take-home pay is the FTB mortgage (relatively large part of the house price).
  4. I'm loving the Tory voter copium on that thread: "at least we don't have Jeremy Corbyn in number 10, he would have taken this country back to the 70s"
  5. Interesting quote from that article, I guess Northern Irish are just a less panicky bunch:
  6. Yet more money that won't be going on housing. Especially bad news for HMO owners as that's their target customer that's about to lose a chunk of take home pay.
  7. Workers finding ways to avoid some of the UK's excessive tax on work was exactly why the government brought in IR35. It's important for the Treasury to extract as much from workers' wage packets as possible so they can afford generous policies for rentiers like the recent stamp duty holiday for landlords and mortgage interest relief for BTL. Instead of people having to work around the system the UK government could choose tomorrow to cut tax on working and increase tax on unearned income until they met somewhere in the middle but it doesn't because it is not scared of workers.
  8. The UK taxes working for a living excessively and is then surprised that people don't want to do all this work. UK politicians from all parties are forever banging on about 'hard working families' being their number one priority but in reality they are happy to heap tax after tax on workers and protect the asset prices and undertaxed rents of those with assets.
  9. The official line that Shapps et al are pushing is that the shortages at the pump are due to panic buying caused by the Road Hauliers Association falsely briefing journalists that there were shortages. So basically they are trying to pin the blame on the RHA.
  10. Moral hazard is all over the UK economy like a rash, so many economic actors working on the assumption that if they take a risk and the downside is realised the government will just socialise the loss which encourages them to take on more and more risk. Like all trends this one is sowing the seeds of its own destruction because so many of these risks are correlated so when the downsides are all realised at once there won't be an entity big enough to transfer the losses to.
  11. Yes, these people need to realise that bankruptcy is their route back to a normal life of having a job, paying their bills and doing what they like with their free time instead of sleepless nights, writing to politicians, staging protests, talking to lawyers, dreading the sound of brown envelopes hitting the doormat etc. I wonder if some of the obsessiveness is coming from high house prices e.g. when you know you've put all your present and future financial firepower into buying a £200k+ flat you feel you can't mess that up because there won't be a second chance, whereas if the same flat was £75k it might sting a bit if it went wrong but you'd be able to imagine picking yourself up and getting back in the game at some point in the future.
  12. I believe the traditional line is "Imagine Diane Abbott as home secretary lol!!! 🤣🤣🤣"
  13. Seems pretty clear the Tory plan is to run the economy for the benefit of the already-rich (pump asset prices, keep taxes on wealth and unearned income low, crank up taxes on wages) and hang on to enough common people via culture war stuff to retain power. It's a good strategy, I'd be surprised if they fail to hold onto power until at least 2029. Labour's attempt to win over Tory voters seems utterly pointless to me, anybody who uses the word 'woke' in earnest is never voting Labour again even if Starmer himself goes out on a jetski to ram dinghies in the Channel all summer. It seems like it would be easier to win over Labour-curious voters with bread-and-butter policies on housing, education, healthcare etc. Plenty that could be borrowed from the Scottish Parliament like more secure private tenancies, cheaper prescriptions, free buses for children etc etc.
  14. It's an easy jibe but I'm pretty sure the average income of posters on here is far above the UK average, that's how so many are able to buy a house despite the high prices. You don't have to be poor to arrive at the belief that the economic system is broken/wrong.
  15. Why on earth do landlords still get mortgage interest relief? Why was it left to George Osborne to cut it down to basic rate and why are Labour not proposing to abolish it entirely? Where is the plan to give private tenants a crumb of security of tenure? Nobody is asking for Stalinism 2.0, these are pretty minimal things that any government could do to make England slightly less cruel to people who are not already comfortable in housing terms.
  16. Pointing out the problems is the easy bit, anybody can do that. These centrist thinkpieces all end up the same way - the UK is brilliant and we love it, it has some practical problems though, in conclusion we firmly believe the UK should be a country which works for the people who live there.
  17. Might as well have the Tories in power as it's pretty clear a government under Starmer would be no different.
  18. Looking at that graph, UK life expectancy stopped increasing soon after the financial crisis.
  19. There's no point voting for anybody who won't come out and say housing is too expensive and they will try to get the cost down. Trudeau, Ardern and Starmer are all in that camp, One Nation Tories squatting on the spot where an actual left wing party should be.
  20. If you like a bit of sci fi allegory and this kind of thinking I recommend the film In Time. The acting is pretty bad but it has some nice world building and exploration of concepts like economic inequality and time being the real currency. https://www.imdb.com/title/tt1637688/
  21. That's not so much coal though, in the 1970s the UK consumed 160m tonnes of coal a year so those economically recoverable reserves are about 2 years' supply if coal was to become a major fuel source again.
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