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Bruce Banner

Vince Cable Suggests That Help To Buy 2 Should Be Reconsidered.

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In an interview on Sky News this morning, Vince cable suggested that Help to Buy 2, due to come into force in January, should be reconsidered.

Sky News are running with this now. A split in the coalition?

http://news.sky.com/story/1140102/vince-cable-calls-for-help-to-buy-rethink

Asked if it should be rethought, Mr Cable said: "We should certainly think about how it should come into effect, indeed whether it should come into effect in the light of changing market conditions.

"We don't want a new housing bubble."

Edited by Bruce Banner

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Wow. Big story.

It seems Vince knows that Help2Buy will be a disaster for the UK economy.

Once Help2Buy2 starts, it can never be stopped.

...and there is only 3 months left to stop it.

tick

tock

tick

tock...

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It seems Vince knows that Help2Buy will be a disaster for the UK economy.

...and there is only 3 months left to stop it.

Have we even got the full details for how it would work yet?

Might Vince may be know HMT hasn't yet been able to tie down the details yet or can't so this is the carefully coordinated story to pull HTB2.

Vince would like business lending to be prioritised over mortgage lending...

Are the government / BoE happy with the current effectiveness of FLS and HTB1 and don't want to push their luck to far...

Edited by koala_bear

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Seems telling that the government still hasn't announced how much it is planning to charge banks for providing the mortgage guarantee. That one number alone could decide how much of a boost HTB2 really will be for house prices, as if the price is high then banks will just do a token amount of HTB2 lending for publicity purposes.

My guess is they won't scrap the scheme entirely as senior Tory and LibDem politicians have made too much of a song and dance about it now and won't want to lose face, but they will set the price high enough that it won't really go anywhere and can be quietly scrapped in a few years' time when everybody has forgotten about it.

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Yet again, he's a total liar.

He doesn't want that at all. He is a Marxist and he will gladly vote for it to be extended and extended for as long as he's a high earning MP.

He will gladly use the next generation's resources to keep winning elections.

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Yet again, he's a total liar.

He doesn't want that at all. He is a Marxist and he will gladly vote for it to be extended and extended for as long as he's a high earning MP.

He will gladly use the next generation's resources to keep winning elections.

Cable is like the others, so drunk with power and as a result will do, or say, nothing that really put this at risk. Merely trying, and failing, to differentiate from Tories whilst keeping the "good News" in the News - i.e. worthless media whore and sound bite required.

Did he run over your dogs? Vince Cable has a good record of speaking up to point out the flaws in the "more debt" strategy, both now and when labour were in power.

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Cable is like the others, so drunk with power and as a result will do, or say, nothing that really put this at risk. Merely trying, and failing, to differentiate from Tories whilst keeping the "good News" in the News - i.e. worthless media whore and sound bite required.

But he's a LibDem. What is the likelihood of another Conservative/LibDem coalition after the next election?

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Ok, now I've seen the video. I'm not so impressed.

He says, "we should certainly think about how it should come into effect, whether indeed it should come into effect, in the light of changing market conditions. We don't want a new housing bubble"

Far too weak Vince. You should be shouting and screaming from the rooftops. This policy will destroy the UK economy.

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Ok, now I've seen the video. I'm not so impressed.

He says, "we should certainly think about how it should come into effect, whether indeed it should come into effect, in the light of changing market conditions. We don't want a new housing bubble"

Far too weak Vince. You should be shouting and screaming from the rooftops. This policy will destroy the UK economy.

we dont want a new housing bubble...we just want to keep the air in this one.

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Seems telling that the government still hasn't announced how much it is planning to charge banks for providing the mortgage guarantee. That one number alone could decide how much of a boost HTB2 really will be for house prices, as if the price is high then banks will just do a token amount of HTB2 lending for publicity purposes.

My guess is they won't scrap the scheme entirely as senior Tory and LibDem politicians have made too much of a song and dance about it now and won't want to lose face, but they will set the price high enough that it won't really go anywhere and can be quietly scrapped in a few years' time when everybody has forgotten about it.

Yes. From a political perspective it makes more sense to keep it as an option and then throttle it up/down as required.

For example if they are forced to raise IR's they may push on the accelerator to try and offset some of the political impact.

Whether it will work or not is another question ...

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Typical Cable move. "Certainly think" is a classic Cableism.

Just puts it on the reocrd so he can't be blamed down the road.

He will be on TV next week crowing about the recovereh.

Horrible coward politician.

Edited by shindigger

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Did he run over your dogs? Vince Cable has a good record of speaking up to point out the flaws in the "more debt" strategy, both now and when labour were in power.

Talks a lot.

Covers his ****.

Does ****** all.

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Vince Cable has a good record of speaking up to point out the flaws in the "more debt" strategy, both now and when labour were in power.

So what? It was all politics with zero belief. Good record? Which stopped around 2005.

He changed completely in 2009 and has called for more and more debt ever since - b4 he was a Minister.

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Typical Cable move. "Certainly think" is a classic Cableism.

Just puts it on the reocrd so he can't be blamed down the road.

He will be on TV next week crowing about the recovereh.

Horrible coward politician.

+ a lot

All Cable's comments are so carefully crafted i) to make sure he speaks to everyone while saying nothing ii) to ensure that there are enough home caveats to maintain his Minister's salary.

A poor man's Blair

I've no time for him.

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Seems telling that the government still hasn't announced how much it is planning to charge banks for providing the mortgage guarantee. That one number alone could decide how much of a boost HTB2 really will be for house prices, as if the price is high then banks will just do a token amount of HTB2 lending for publicity purposes.

My guess is they won't scrap the scheme entirely as senior Tory and LibDem politicians have made too much of a song and dance about it now and won't want to lose face, but they will set the price high enough that it won't really go anywhere and can be quietly scrapped in a few years' time when everybody has forgotten about it.

+1

FLS and HTB1 are cheaper and more effective (i.e. liquidity and new build encouragement) than HTB2. HTB 2 looks like it was the fall back mechanism if the others didn't work, so I think they will make it expensive (i.e. more sensible/realistic risk pricing). If HP rise too much or 2 quickly I think they understand the transaction volumes will fall off quite quickly due to affordability critieria and the need for repayment mortgages.

The latest I can see the HTB 2 conditions being released is the end of October by which time they will have more data on effectiveness on the other 2 schemes.

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Seems to me that HTB is all about new builds. The offering for second hand homes is nowhere near as attractive as it is for new builds and anecdotally I know of 2 couples who have done the maths on HTB1 and HTB2 and gone for a new build which previously they would never have considered. Any further diluting of HTB2 will just push more customers towards the developer friends of the government, whilst simply maintaining a token scheme for second hand houses for 'balance' (and, I suspect, to allow customers in arrears to re-mortgage on to a product which makes repossession in the future easier for the banks). From my point of view this is a good thing as I have absolutely no interest in a new build property and I'm more than happy to see demand for second hand housing fall.

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He's the best of a very very bad bunch.

One of the smaller of the poos currently floating about in the political punch bowl as it were.

Apparently they had to get a new Wembley sized bowl entirely just to fit Gidiot Osborne in. Find it difficult to get worked up by Cable when a young Mr Burns from The Simpsons is running the economy.

Edited by byron78

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This is genius from Tories (if planned).

Threat of HTB has generated 'increased HPI' headlines - even if reality is somewhat different.

All the impressions of an economic boom in progress - Osborne achieved it despite the unhelpfulness of Lib Dems and criticisms of Labour.

Coalition can now pull HTB2, if there is a 'crash' from it then Osbourne can blame Lib Dems - setting up nicely for "we've fixed it once, we'll fix it again - but need a majority" situation for general election.

If it doesn't get blocked Osborne gets more 'bubble' headlines - where he say "then vote Balls or Cable and get another recession"

Edited by slacker

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Talks a lot.

Covers his ****.

Does ****** all.

+1. Judge all politician and central bankers on what they do, not what they say.

Vince Cable was the just about our only hope when he entered government, since then he appears to have done nowt.

If he is that concerned he can pull out the lib dems and get a vote of no confidence in the torries.

I suspect he/they will do nothing and leave this car crash heading straight for the wall.

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Vince the waste of space politician.

It's possible he believes what he's said in his roundabout way on a variety of subjects even going back to the various pension swindles and so on during NuLabour's time but when push comes to shove on any sort of injustice, raw deal or inequity he always seems to be completely ineffective and found wanting.

These days he seems to define the LibDem party - which gets more and more invisible with each passing day.

Edited by billybong

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These days he seems to define the LibDem party - which gets more and more invisible with each passing day.

You're not wrong there, if I'd just arrived in Britain I'd say the tories had a majority government.

Where are the real leaders who know this is wrong and are prepared to stand up against it ?

Where are the real leaders who will stand up against the banks ?

Where are the real leaders who will stop pensions/savings/earnings being destroyed in order to prop up banks and the unearned untaxed equity their debtors have in their houses ?

Where are the real leaders who will invest in housing and manufacturing, real jobs ?

Where are the real leaders who will look after the British people first and everyone else second ?

I personally don't know where they are but I know where they are not....Westminster.

Edited by TheCountOfNowhere

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