Greater Fool
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Posts posted by Greater Fool
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It can't be far off when owning BTLs outside of a company are classed as "second homes" and liable for council tax at possibly double rates. It sounds like an easy tax grab under the umbrella of wealth tax.
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On 01/12/2023 at 21:03, MonsieurCopperCrutch said:
Sounds like an ill-eduacated clown like yourself needs to learn more:
Charlie Munger lived in the same home for 70 years: Rich people who build ‘really fancy houses’ become ‘less happy’
So what? My next door neighbour lived in the same house to 60 years but that doesn't make them a genius or worthy of some kind of special reverence.
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Correct me if I'm wrong, but what is so fantastic about what Buffett and Munger do (did)? Doesn't BH just buy the shares of other companies with other people's money rather than actually producing anything themselves?
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6 minutes ago, Huggy said:
What would they blockade it with? A few Iranian versions of the Moskva to start with maybe, and then what?
With two US carrier groups in the area any "blockade" will be very short lived.
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Entitled millennials buy house and cars to lead a lifestyle they can't afford, and now want some advice or someone to blame for their predicament. It's called "cutting you're cloth".
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If we rejoin it will be by the underhand "associate member" route Macron and Tony Blair are plotting.
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3 hours ago, PeanutButter said:
Let me know when Rolex (direct) no longer has a waitlist, and the resale market drops.
That and Chanel handbags are useful indicators.
The watch market is tanking, check out the site. We can't be too far off when you can walk into a Rolex AD and actually buy a watch.
https://watchcharts.com/watches/price_index
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On 21/08/2023 at 00:06, Confusion of VIs said:
Exemption is given to students to reduce their living costs and of course it is subsidised by other taxpayers.
What form of magic do you think would achieve this if the bill was just passed onto their landlords and recharged back; no doubt with a markup for agency fees etc.
Do you realise how much student landlords can make renting out HMOs? If you live in a student town you would appreciate the gargantuan scale of the mess that the local councils need to clear up several times a year which they are performing gratis to the landlords.
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13 hours ago, Lagarde's Drift said:
Perhaps one where they flee persecution from an authoritarian state?
I've no doubt there will be some in that situation, and a lot of them will be economic "refugees" taking advantage of the arbitrage opportunities, the open door policy the UK government has chosen makes no distinction.
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5 hours ago, Postman said:
These are the kind of asylum seekers the Tories want. The kind of asylum seeker that arrives with money, buys our assets and rents them back to us at a premium. Then they distract us with the 40k a year or so arriving by dinghy and claim that *these* are the asylum seekers that are ruining out lives. Lmao. Wake up people
Work visas issued by the Tory government in the year to march 2023 are up 76% to 487k... But the dinghy people are the problem 😂
In what kind of parallel universe do we live in when HK'ers are classed as "asylum seekers"? For heavens sake people are moving from the UK to HK to work and set up businesses because the place is booming.
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2 hours ago, Confusion of VIs said:
Because they are students
Why? and if so what is the point of local elections. Maybe only property owners get a vote with extra votes for each BTL they own
At the very least student landlords should have to pay the council a service charge for providing refuse services etc. that is being subsidised by other taxpayers.
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All those poor and desperate refugees fleeing from Hong Kong to get to the UK eh? Turns out they are getting into BTL. Incidentally I saw an advert recently that was inviting people to actually go out to HK to work because the place is booming and they are desperate for more skilled workers.
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7 hours ago, valiany88 said:
Anyone would think there`s an election coming.
The Tories and "The Guvmunt" aren't involved in any of this.
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1 hour ago, kzb said:
Yes but it is part of the remuneration of the post. If you cut it, the taxpayer would have to pay it in salary instead.
Also we already have a NHS staff shortage and a teacher shortage. They are already on strike for more money. Cutting one of the few perks of the job is not going to help.
Which public sector workers "deserve to earn" 20-30% on top of their salary with the large employers' pension contribution is open to debate, some may, others don't, there are nearly 7 million of them.
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12 minutes ago, kzb said:
It depends who it costs. The "unfunded" pensions are paid from ongoing contributions from employers and employees. It's part of their remuneration package, if it was cut they would want it as salary instead.
BTW some pensions are funded by investments, USS is and I think local authorities also.
The employer contribution is the taxpayer, there is no way around that "it is costing" the taxpayer, the OBR are attempting to obfuscate this, the very high contribution rate in the public sector of 20-30% is off the scale of any industry standard. The LPGS are you mention is again still funded from a very high take of revenue from the taxpayer despite the fact they claim it's funded, it wouldn't be affordable with a industry standard contribution rate.
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1 hour ago, kzb said:
Why does it say this then?
In our March 2023 forecast, net public sector pension spending increases substantially from £4.2 billion in 2022-23 to £7.9 billion in 2023-24, before increasing to a peak of £9.9 billion in 2025-26, and then falling to £7.9 billion by 2027-28. As a share of GDP, net public service pension payments reached a trough in 2021-22 of 0.1 per cent; they then rise to a peak of 0.4 per cent in 2024-25 and fall gradually thereafter.
The OBR's figures are wrong, they are ignoring the total tax payer cost of public sector pensions and focussing on the accounting cost. Public sector pensions are costing a lot more than 7.9 billion if you read the small print. If public sector pensions cost so little then why can't be all join in a state provided contribution based pension scheme similar to the French system?
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5 minutes ago, RentingForever said:
Apparently this was an option modelled at the last budget but was rejected as it wouldn't make enough money to justify the political pain. Pretty sure that Labour plan to do it, though.
They were talking about taxing private schools to raise just 1 or 2 billion a year, even though it would have knock on costs to public sector education.
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7 minutes ago, Insane said:
No wonder we are now hearing whispers that the next government be it Tory or Labour will be raiding private and company pension schemes again.
True, but I predict the next big tax raid will be taxing capital gains and dividends at same rates as income tax. Maybe they will eye up big the pots of money in pensions and consider them as capital gains?
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23 hours ago, Will! said:
Northern Beaches Hospital Sydney, so to make their point they choose a glamorous location which everyone will want to go to, will there be as many takers for the outback like Broken Hill Base Hospital?
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7 hours ago, spyguy said:
This is the net funding cost of publci pensions -
https://obr.uk/forecasts-in-depth/tax-by-tax-spend-by-spend/public-service-pension-payments-net/
Just under 10bln.
However those figures are going to shoot up in the next few years.
That figure from the OBR ignores the total contribution and it just the excess accounting cost of the projected cost. If the employer is offering a 25% contribution of salary it costs the taxpayer that amount, just because the employee is "entitled" to a ridiculously high contribution rate doesn't mean that its not funded as a cost to the taxpayer. The total cost to the taxpayer is £51 Billion not £8 billion. They also omit to say if the figures include the NHS and Civil service or local councils, Quangos, police, teachers etc. etc. so I strongly suspect the total cost of public sector pensions to the taxpayer is at least double £51 billion.
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16 hours ago, captainb said:
Not really. That's the student loan covering it.
Having your cake and eating it, getting your £160k training paid by the state then going to a country that doesn't fund training but pays higher because of not doing so.
It's similar in the USA, medical/dental students amassing $1 million in student loan debts to pay for the private university fees, but doctors here with £50k student debt think they are badly off and threaten to move to the US.
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Which wall would you like it to be?
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Will this apply to corporates like Serco buying up HMOs to house the boat migrants for Government contracts?
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3 hours ago, TerryBoi said:
This is why socialists are so ineffective.
What do you think the H in H20 stands for dude?
Hydrogen is the most abundant element in the entire Universe.
🤣
The hydrogen atoms are always joined to another pesky atom though. They don't exist on their own out in the universe, the only way to get some nice hydrogen atoms is to apply energy to break the bonds.
It seems that wages aren't improving after all
in House prices and the economy
Posted · Edited by Greater Fool
But no one will have the money to pay the plumbers and electricians top dollar to work on their houses if they are skint working for peanuts. They will just try their hand at doing DIY jobs themselves or get a mate of a mate to do it.