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Andrew Neil Interviews City Am Editor Allister Heath


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Quick summary would be nice, haven't got 8 minutes!

Basically the City AM chap said that the city have faith in the coalitions plans and record amounts of gilts are being bought by other countries, however compainies are a bit miffed with our high tax levels so they're moving HQs abroad.

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Basically the City AM chap said that the city have faith in the coalitions plans and record amounts of gilts are being bought by other countries, however compainies are a bit miffed with our high tax levels so they're moving HQs abroad.

funny the people that are paying for this arnt the same people that made vast profits from this, i think there should be extra tax on 2nd or properties etc.. other than the family home.

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Quick summary would be nice, haven't got 8 minutes!

:rolleyes: You haven't got 8 minutes?! Come on... you won't regret it. :)

Teasers:

- Foreign lenders (buyers of UK bonds) confidence in Britain increased with coalition government, and confidence is good, for now, but temporary, conditional on cuts actually happening, or . . .

- City is losing business to foreign financial centres. At least a thousand hedge-fund managers have left already, and that will cost the exchequer at least 500 million pounds a year.

- "cheap Keynesian economics, not real Keynesian economics.(...) There is no theory that says that a government deficit of 10% of GDP is good for growth. It is bad for growth, because it . . . " . Well, just listen to it... Only 8 minutes FGS.

( Warning: The following interview is with Labour's Yvette Cooper MP! Members with fragile disposition should avoid her. )

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Basically the City AM chap said that the city have faith in the coalitions plans and record amounts of gilts are being bought by other countries, however compainies are a bit miffed with our high tax levels so they're moving HQs abroad.

. . . and they don't like the anti-banksta/hedge fund mood music.

One point of real interest was his claim that the private sector has created 300,000 new jobs this year, 100,000 of which were full time.

The trouble is working out whether this is in fact the case. If true, it means the UK position stands in stark contrast with the US where the real rate of unemployment is around 20%.

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. . . and they don't like the anti-banksta/hedge fund mood music.

One point of real interest was his claim that the private sector has created 300,000 new jobs this year, 100,000 of which were full time.

The trouble is working out whether this is in fact the case. If true, it means the UK position stands in stark contrast with the US where the real rate of unemployment is around 20%.

Yes, he didn't mention his source. Pity. I would like to check that too.

Though as the editor of the City AM he must be careful with data. It would damage his reputation if were quoting wrong data.

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So on the one hand, "they" like the idea of cuts, but on the other are making them worse by moving their offices abroad to avoid tax! :huh:

Part of the answer to this apparent contradiction is in the word "they". And you have indicated that yourself, by putting it between quotes. There are different "theys", with different individual interests, working in different industries, and different sectors.

Besides, it is always counter-productive to try to charge 50% income tax from people. The individual tax-payers target by it will always start to resent it, and try to resist to it. And many (most) of these traders don't even worked with the housing market, and don't feel they had anything to do with it. Besides, Geneva is a wonderful city. If the HMRC keeps taking 50% from them, they will leave. Over a thousand have left already. Of course we need to develop other sectors of the economy, but meanwhile, perhaps it would be better not to kill the city.

Edited by Tired of Waiting
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e 50% income tax from people. The individual tax-payers target by it will always start to resent it, and try to resist to it. And many (most) of these traders don't even worked with the housing market, and don't feel they had anything to do with it. Besides, Geneva is a wonderful city. If the HMRC keeps taking 50% from them, they will leave. Over a thousand have left already. Of course we need to develop other sectors of the economy, but meanwhile, perhaps it would be better not to kill the city.

I broadly agree. They can doubtless do untold damage to the UK economy and suck it dry equally as well from Geneva, so we might as well have the benefit of their taxation while they are at it.

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Exactly. Much better to get 40% of a £billion, than 50% of nothing.

Not if that billion distends house prices beyond what the rest of us can afford, widens social inequalities and drives epic bubbles and malinvestments

It would be terrific for these shysters to bugger off to Geneva or Harare or wherever. Please

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  • 420 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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