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About jiggles

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  1. More council housing does not solve the fundamental "London issue" which is that many opponents of the HB cuts argue it is wrong/unfair/ideological/mean spirited etc because it will mean the (special) poor will no longer be able to live in Central London. There is no space for the scale of council housing that (I presume) you are suggesting. People on benefits will still have to move from the more desirable/built up areas. The Guardianistas/Boris think this is unfair to the special poor; they are not so worried about the other poor/not so poor who commute and pay rents out of their earnings and base their living conditions and lifestyle upon something as vulgar as ability to pay. Even if thousands of new houses were built around the edges of the major cities HB recipients don't have to go and many argue that the suggestion they go to where the allocated housing is, is unfair. How would you square that circle?
  2. Exactly the same experience at my office (posted on another thread). No one has any sympathy with the "soon to be cleansed" given that all of us have been cleansed from central London. I would say that I find the Labour reaction all the more disturbing because this is party that allegedly represents the working class. Was there no one on their staff that was able to articulate how mind bogglingly outrageous it is that people earning average wages across the UK pay taxes to keep people working or unemployed living in accommodation they and these average tax payers cannot afford indefinitely. I am naturally more right wing but on the whole I can empathise with left wing arguments but on this one I just think Labour and other HB cheer leaders have been lobotomised.
  3. Stratford is an armpit. That Westfield will need to be mighty special.
  4. BRING IT ON! I am so fed up of all this bleating about vulnerable people in zone 1. These subsidised rents are ludicrous - its not like it is a stepping stop to assist in a sudden reduction in income - this is a lifelong subsidy for the unemployed or low paid. Take a frigging bus or ride a bike! I have lived in zone 1 - Islington, but it was a bit pricey so I moved further out and bought a travel card. I have had various chats with people in my office who are at the lower end of the pay scale but with kids to support (£20-25k) they live in the back **** end of zone 5/6 and get public transport and I have yet to meet anyone who thinks the cuts are unreasonable in real life. Living in zone 1/2 is a CHOICE based on how much money you can afford - ergo if your money is a welfare transfer the same rules of affordabilty should apply. Fluffy guardianista phrases like vulnerable/support networks/community are BS! Plenty of people move around to take advantage of jobs or just a change of scenery without entering into their own personal melt down. Boris is a moron and clearly has aides who read a lot of left wing newspapers and got the wind put up them. People who earn 18 - 25k cannot afford to live in central london - so they don't. They commute, live with their parents and house share. If they back down on this - I hope everyone earning less than £30k signs on for HB to collapse the system. Sorry about the rant - but this really pisses me off. I don't mind paying tax to support the sick, disabled and elderly but supporting the hard of thinking for daft life choices is annoying. I have a "facebook" friend from primary school who got pregnant during her A -levels - unfortunate timing maybe but she decided to keep the baby - fast forward 6 years and she has had another 2 children - never worked/got further qualifications/married or otherwise taken financial responsibility for HER CHOICES. The fact is those two subsequent children would not have existed if she was not guaranteed housing and benefits that expanded with her brood. In the real world people think about the financial cost of children and adjust their plans accordingly particularly in London because it is pricey. She lives in a nice three bed flat in leafy west london - paid for by everyone else. She is not and never has been down on her luck. She has been a prize prat, a bit lazy and a decent mum to her kids - but thats not what I want my taxes to fund - this girl should have been her families' problem. She is bright (predicted Bs at Alevel) middle class, siblings at uni, working decent parents and normal friends. If her mum and siblings had to pull double shifts/two jobs to fund her bundles of joy she would have got her mind right and stopped at the one child. But they don't so she didn't. End rant!
  5. Presently you can save "tax free" the lower of your annual net relevant earnings (salary and or business profits if a sole trader/partner) or £255k into an approved pension. E.g If I earn £30k the maximum I can pay into my pension is £30k gross. This includes any contributions my employer might make as well. So if I have a generous employee defined contribution pension in which I can pay in 5% that is matched by my employer - each year £3k is paid to my pension pot. If I suddenly win the lottery and decide to top up my pension in the year the maximum I can pay in is £27k gross because I am capped at the lower of my "earnings" or £255k. The new rules sound like they will reduce the £255k down to £40k - which is still a lot of money. However for some self employed people who spend the majority of their working lives ploughing all spare money back into the business to the detriment of retirement planning it will make it tougher to build up a decent pension pot when they start making contributions towards the end of their working life
  6. What is to stop these new graduates leaving? At present, unless you receive UK income or make a UK capital gain, whilst living overseas you don't need to do a tax return or actually communicate with HMRC. Given the cuts and general shambles that is HMRC how will they track all these graduates and the lost tax. This is a really daft idea - anyone sensible will just leave the country and no one can stop them.
  7. That is true there is obviously all the civil servants working in whitehall, HMRC, the Beeb etc.
  8. I went to uni in the mid noughties when fees were £1k a year or there abouts. I was in the south east and based on how much I got from my parents, working and student loans - if had no help at all I would have needed to generate £22k for a three year degree in a pricey southern city. There were no class A drug habits and not much drinking - bought some clothes for work experience and for my first job out of that cash. So no you are not going insane!
  9. Maybe (like some in my office) they are on the SVR having coming off 2/3 year fixes and are desperately scrambling around to pay down the capital so that they can remortgage before rates go up
  10. I see your point but areas like Acton are artificially inflated (from what I understand) because when housing benefit is calculated Acton is included in a banding area that also includes Westminster. I cannot speak for East Dulwich etc but I imagine there will be a cascading effect, because property prices won't be buoyed up by BTL subsidised by HB and they will have to fall. So that Mr and Mrs 600k in the bank will look at Angel rather than Hackney for their forever family home and someone with £250k will no longer be stuffed into substandard two bed flats on main roads and called a FTB. A five bed house in highbury can only sell for £1m because a similar house in Hackney is £800k because a similar house in Bow is £600k and so on. I think the inevitable downward pressure in the deeply crap and overpriced areas like Bow/Lewisham/Crystal Palace/Greenford/Kilburn/"the ever lovely Canning Town" etc will drag all prices down even in prime areas. And also agree that overseas buyers want a safe place to stash their money in sterling but they are not stupid they want to protect their capital as well as having exposure to Sterling. Buying a £100m house in prime London that then is worth £75m is a haircut for an oligarch too.
  11. The housing benefit cap will decimate prices in many middling to grotty areas of London. I am thinking Acton/Hackney here. Also there is a big gap in pay/expected pay between bankers etc and everyone else. And for every oligarch/sheikh there are thousands of clerks/accounts assistants getting by on £22k a year for whom a £250/300k FTB property is never going to happen.
  12. I don't think it can to be honest, in order to have "sufficient" equity you need to have bought several years before the peak - that rules out a lot of people under 30/35. Starting salaries for milkround jobs or other typical "middle class" jobs don't allow the accumulation of saving to acquire the mythical FTB 1/2 bed flat and then leap to family houses for the 630k without significant outside help. In answer to you question - I think 5/7 years before debt and demographics bring the hold charade down.
  13. Ealing Common/Broadway is nice enough - Shepherd's bush end is just grimey irrespective of how much you might like the westfield - Uxbridge is a bit of a trek if you are planning to commute into central london. I have written off west london since the nice bits are too expensive and what I can afford is just crappy. But I am interested to hear what everyone else things of that side of the city.
  14. Tbh every year there is a crack down on something or other and formerly legal planning becomes evasion. It just more grist for the professional services mill....
  15. Yes it is a bit but it is still correct. Any fruity or exotic arrangements you do will need to be notified to HMRC in some cases but they are not illegal just because they need to be notified.
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