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underpressuretobuy

Conservatives Say

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We're Safe As Houses

Updated: 15:56, Wednesday December 14, 2005

New Tory leader David Cameron has told would-be voters - your home is safe with us.

In a speech to City bosses he admitted the Conservatives got it badly wrong on Black Wednesday but had learned from their mistakes.

Mr Cameron said: "The Conservative party has changed. We have learned our lesson.

"We will never again put your home, your business or your mortgage at risk by undermining economic stability."

To avoid a repeat of Black Wednesday, when interest rates threatened to hit 15%, Mr Cameron said he would introduce a "triple-lock" policy to protect homeowners, business people and borrowers.

Speaking about economic policy for the first time in public, Mr Cameron said the policy would also safeguard the UK economy.

The first part of his plan would keep the independence of the Bank of England, a move brought in by the Labour Government.

He also pledged never to hand over interest rate decisions to Europe.

The second "lock" would introduce an independent Office of National Statistics, as already proposed by Chancellor Gordon Brown.

The final part - a Tory initiative - would be to bring in an independent assessor to monitor tax and spending rules and decide when economic cycles begin and end.

My goodness the Tories are really waking up from their long slumber!

Sounds to me like some one is laying the foundations for future attacks on the Labour Party once voters realise that investing in property is not always as safe as houses.

What do people here think about the "triple-lock" policy they are suggesting?

I would suggest that even if this had been in place years ago it would not have dealt with Britain's massive build up of personal debt amongst other economic problems.

Edited by underpressuretobuy

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Guest

Hmmmm. Cunning. Is he playing on people's lack of understanding here? (Sticking my neck out here).

As I understand it, the ERM mechanism (under the circumstances) had a side-effect of being a life-support to the housing market by holding the value of the pound artifically high. Since that was the case, IRs didn't need to be high to do the same job, so they could be lower than would otherwise have been the case. When the speculators forced the pound of of the ERM, IRs simply returned to what they should have been all along.

Still the people blame the Tories for this. Maybe they blame them for the surprise factor.

This time there is no ERM to "save" the housing market.

Mr Cameron said: "The Conservative party has changed. We have learned our lesson.

"We will never again put your home, your business or your mortgage at risk by undermining economic stability."

Ok, fair enough. IRs will just go straight to where they should be anyway, right?

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We're Safe As Houses

Updated: 15:56, Wednesday December 14, 2005

New Tory leader David Cameron has told would-be voters - your home is safe with us.

In a speech to City bosses he admitted the Conservatives got it badly wrong on Black Wednesday but had learned from their mistakes.

Mr Cameron said: "The Conservative party has changed. We have learned our lesson.

"We will never again put your home, your business or your mortgage at risk by undermining economic stability."

To avoid a repeat of Black Wednesday, when interest rates threatened to hit 15%, Mr Cameron said he would introduce a "triple-lock" policy to protect homeowners, business people and borrowers.

Speaking about economic policy for the first time in public, Mr Cameron said the policy would also safeguard the UK economy.

The first part of his plan would keep the independence of the Bank of England, a move brought in by the Labour Government.

He also pledged never to hand over interest rate decisions to Europe.

The second "lock" would introduce an independent Office of National Statistics, as already proposed by Chancellor Gordon Brown.

The final part - a Tory initiative - would be to bring in an independent assessor to monitor tax and spending rules and decide when economic cycles begin and end.

My we are all bright eyed and bushy tailed.

I am feeling like the raw prawn amongst a bunch of doe eyed dollies.

Halleluia, when we have our independent assessor there will be no more need for this site. Because everything the independant assessor says will be true. After all anyone independent would have decided that the economic cycle has peaked and is about to slide. Make a bet they wouldn't though. His masters voice with an "independent" job title.

Then there is "economic stability". For most people mean that they keep their nominal wealth, hence the nominal value of their homes. All I am seeing is a bunch of already haves setting themselves up for more taxes to pay off the mortgages of the already have houses when the crash comes.

I also think that the example - controlling interest rates - is at odds with the triple lock. Note the example involves ameliorating the fear of interest rate rises, which is the thing that G&T have also been holding back. Are they going to fiddle with the levers or aren't they? Its all pollie speak.

Same as it ever was. Monster raving loony party for me I'm afraid.

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Same as it ever was. Monster raving loony party for me I'm afraid.

aye, and wasn't the ERM a bit of a red herring anyway? Convenient scapegoat for the hangover of late 80s excesses.

it seems clear to me that the people "up top" do know which way the wind is blowing. They just won't tell the sheeple until after its actually happened

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Guest Bart of Darkness

Hmmmm. Cunning. Is he playing on people's lack of understanding here? (Sticking my neck out here).

I would say so. He wouldn't be a politician if he didn't do that.

To avoid a repeat of Black Wednesday, when interest rates threatened to hit 15%, Mr Cameron said he would introduce a "triple-lock" policy to protect homeowners, business people and borrowers.

Yep, please all of the people, all of the time. It's easy!

I suspect "triple-lock" can be filed alongside "prudent" in the grab-bag of political phrases.

Although if the tories fail to turn around the current lamentable state of our traffic officials (to call them a police force would be too generous), triple-lock will soon become a very popular phrase at your local Halfords.

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  • 338 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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