Hammond to put house-building before deficit reduction

[Oliver Sutton]

Believe it when I see it.

 

http://www.bbc.com/news/uk-politics-37536943

[TheCountOfNowhere]

More house building...at insane prices...to suit house builders who fund tory party.....

 

I believe it...We've all seen it.

The Fraud squad seem to be turning a blind eye to it.

[notMyName]

http://www.bbc.co.uk/news/uk-politics-37540803

Communities Secretary Sajid Javid has attacked "nimbyism" as he called for a million new homes to be built by 2020.

[TheCountOfNowhere]

Again, what's the point of 1 million new homes when our taxes are being used to prop up prices, foreigners being alllowed to buy them, BTLers beingt allowed to hoard them and UK companies being allowed to borrow at 0.25% to buy and hoard them.

The problem's not the house building it's the f**king criminals using the houing market to rob us all blind.

 

IMHO of course.

[zugzwang]

Big Phil makes a commitment to keep spending indiscriminately like George Osborne while pretending not to... like George Osborne!

[Riedquat]

31 minutes ago, Reebo said:

http://www.bbc.co.uk/news/uk-politics-37540803

Communities Secretary Sajid Javid has attacked "nimbyism" as he called for a million new homes to be built by 2020.

Communities Secretary Sajid Javid has attacked people who care about the country as he calls for massive vandalism. Scum. A million homes is the equivalent of a pretty huge city. What happens after that, another million by 2024, another million after that? Tackle the bloody cause of the problem rather than the symptoms (and those are being tackled with treatments with pretty darned unpleasant side-effects). Sure, there's need to make up the backlog thanks to years of grossly irresponsible population growth that should never have happened in the first place, but the two must go hand-in-hand.

[Crumbless]

22 minutes ago, zugzwang said:

Big Phil makes a commitment to keep spending indiscriminately like George Osborne while pretending not to... like George Osborne!

Exactly.

He spend all that time mocking Labour when its the last 6 years where we've borrowed more than ever.

The Tory Party backed all Labours spending plans under the Blair/Brown years, and have copied Labours spending plans since 2010.

Anyway i will be doing my bit to keep productivity low by working just enough to earn tax threshold and possibly a little more to put in a pension. As there is no gain from working and ii just cannot be fooked.

 

[nome]

From what I've heard it's a commitment to keep borrowing... So that will ensure ZIRP forever and ever then.

[nome]

From what I've heard it's a commitment to keep borrowing... So that will ensure ZIRP forever and ever then.

[durhamborn]

1 hour ago, Crumbless said:

Exactly.

He spend all that time mocking Labour when its the last 6 years where we've borrowed more than ever.

The Tory Party backed all Labours spending plans under the Blair/Brown years, and have copied Labours spending plans since 2010.

Anyway i will be doing my bit to keep productivity low by working just enough to earn tax threshold and possibly a little more to put in a pension. As there is no gain from working and ii just cannot be fooked.

 

Iv been doing that for 6 years now.Much better working a few hours a week earning the tax allowance self employed.I worked in big pharma,my partner was a highly skilled nurse.We paid £48k a year tax.I left,my partner left,but now she works 18 hours a week as a health responder (3 x 12 hour shifts every 14 days) for the council,no stress and just under tax allowance.We now pay £1800 tax a year.Council tax and fuel duty mostly.Pfizer phoned me a couple of months ago,offered a very nice salary,five times what i make now self employed.I turned them down.It did cross my mind to take it for two years and pay 80% into my SIPP to pay no tax but decided against it as id rather just do my own thing every day.

Edited October 3, 2016 by durhamborn

[billybong]

 

Quote

 

Chancellor Philip Hammond has said he will prioritise spending on new homes and transport rather than following his predecessor George Osborne's aim to balance the books by 2020.

He told the Conservative conference the deficit was still too large and would need to be tackled "in due course".

 

Outcome exactly the same as if it had been Osborne in Charge - or Darling or Brown etc for that matter.  

That's the rules according to the LibLabCon.

No surprises from  property developer and builder Hammond - if he could have made the announcement from 1 Commercial Street in London where Osborne made his keynote speech on the economy then he would have.

 

Quote

 

https://www.gov.uk/government/speeches/chancellor-speech-on-the-economy

9 September 2013

Now, you’re probably thinking that a construction site is a strange place to make a speech.

 

Not strange at all considering all the vested interests and where the funding comes from.

Despite all that new home building is still at record lows.

Edited October 4, 2016 by billybong

[Motor_Blade]

Let's carry on spending more than we earn, what could possibly go wrong??????

[TheCountOfNowhere]

37 minutes ago, Motor_Blade said:

Let's carry on spending more than we earn, what could possibly go wrong??????

 

It's already gone wrong !!!!!  It went wrong 9 years ago now !!!!

[Motor_Blade]

1 minute ago, TheCountOfNowhere said:

 

It's already gone wrong !!!!!  It went wrong 9 years ago now !!!!

Fair point, but for whom? TPTB & the banksters don't seem to have suffered too unduly. 

[canbuywontbuy]

They should just put one of those Smash robots in charge of the treasury that repeats all the usual platitudes in a metallic vocoded voice - no different to having to hear Hammond or Osborne read a script.

[rollover]

7 hours ago, TheCountOfNowhere said:

More house building...at insane prices...to suit house builders who fund tory party.....

 

That's exactly what it is, at least in London.

Quote

 

Mayor attacked over his focus on affordable rent

Sadiq Khan’s housing plan came under attack from Tories today for focusing too narrowly on renters at the expense of the “squeezed middle”.

The Tories called on the Mayor to set target of creating 10,000 shared ownership homes a year to help lower income Londoners with small deposit.

Mayors focus on rents based on a third of average local income was a “massive oversight”.

Standard (pressreader.com)

 

Edited October 3, 2016 by rollover

[Crumbless]

Seems the markets think Hammond will be pouring more money into building company directors bonus schemes

http://www.telegraph.co.uk/business/2016/10/03/house-builders-hit-back-at-landbanking-claims/

Meanwhile, shares in some of the UK’s biggest house builders rose this morning after chancellor Philip Hammond and Mr Javid unveiled a £5bn fund aimed at solving the housing crisis. Shares in Redrow were up 1.57pc this afternoon, while Barratt, Bellway and Taylor Wimpey were up 1.46pc, 1.18pc and 1.56pc respectively. Persimmon was up 0.99pc.

Edited October 3, 2016 by Crumbless

[wish I could afford one]

9 minutes ago, Crumbless said:

Seems the markets think Hammond will be pouring more money into building company directors bonus schemes

http://www.telegraph.co.uk/business/2016/10/03/house-builders-hit-back-at-landbanking-claims/

Meanwhile, shares in some of the UK’s biggest house builders rose this morning after chancellor Philip Hammond and Mr Javid unveiled a £5bn fund aimed at solving the housing crisis. Shares in Redrow were up 1.57pc this afternoon, while Barratt, Bellway and Taylor Wimpey were up 1.46pc, 1.18pc and 1.56pc respectively. Persimmon was up 0.99pc.

Most of those (Persimmon isn't) are members of the FTSE250.  I own VMID which is a FTSE250 tracker and it was up 1.98% today so house builders under performed compared to the index as a whole.

[Mikhail Liebenstein]

Hammond is shockingly bad.

I saw some of his speech on the news, even the party faithful could barely stay awake.

May is equally bad.

[DarkHorseWaits-NoMore]

15 minutes ago, Mikhail Liebenstein said:

Hammond is shockingly bad.

I saw some of his speech on the news, even the party faithful could barely stay awake.

May is equally bad.

Yeap, wow it sure is lucky we got Chairman May to save the day.

Uncontested, parachuted in, opposition swept away... today's democracy, reminiscent of The Politburo, perhaps an Asian import from G1diot's recent tour.

Edited October 3, 2016 by DarkHorseWaits-NoMore

[Timak]

Do any of these schemes actually come to anything?

I went to a couple of "Right to Build" meetings for which my council was given a decent grant to set up.

Not a single house has been built in 2 years. Basically the council asked landowners to give people plots to build on. Landowners etiher said "No" or said "Yes if they give us the expected profit for the plot"

Waste of time for the 250+ who attended.

Edited October 3, 2016 by Timak

[Crumbless]

1 minute ago, Timak said:

Do any of these schemes actually come to anything?

I went to a couple of "Right to Build" meetings for which my council was given a decent grant to set up.

Not a single house has been built in 2 years. Basically the council asked landowners to give people plots to build on. Landowners etiher said "No" or said "Yes if they give us the expected profit for the plot"

Waste of time for the 250+ who attended.

Exactly, i'm willing to gift someone 4 times UK average salary for a plot to build a 90-100m2 3 bed house in an average area, i don't need govt grants. The only help i need is for the state to get out of the fkcn way yet and stop paying people to come up with laws to prevent me building.

All we will get is 4 years of slogans from this pair of money printing *****s, they're just rich out of touch Blairite boomers who don't get it.

[Saving For a Space Ship]

13 minutes ago, Timak said:

Do any of these schemes actually come to anything?

I went to a couple of "Right to Build" meetings for which my council was given a decent grant to set up.

Not a single house has been built in 2 years. Basically the council asked landowners to give people plots to build on. Landowners etiher said "No" or said "Yes if they give us the expected profit for the plot"

Waste of time for the 250+ who attended.

Quote

Local planning authorities in England are now required by law to keep a register of all people and associations (groups) that have requested a serviced plot for self build and custom buildin their area.
 
We’ve upgraded the system to make it compliant with these ‘Right to Build’ laws. 

The revised Local Self Build Register checks whether you are eligible to apply for a plot and then forwards your details to local authorities that you select that are using the service, so they can add you to their register.
 
It also tells you which local authorities aren’t using the service, so you can contact them directly to register with them.

+1 just had this re-register request after hearing nothing for 2 yrs

[knock out johnny]

1 hour ago, Timak said:

 

Not a single house has been built in 2 years. Basically the council asked landowners to give people plots to build on. Landowners etiher said "No" or said "Yes if they give us the expected profit for the plot"

Waste of time for the 250+ who attended.

So the landowners wanted too much money for their land

 

Or to put it another way

 

The newbuilders who wanted the land wanted to keep the expected profit for themselves

[bear.getting.old]

My first thought was great they are going to aid the HPC by expanding the housing stock just as the SHtheF. But then I came here and realised that yes, the foreigners will buy them.

I also think that they will keep rates at zero forever or until they are forced to raise them by external events. When that happens it will be a bloodbath to all those ZIRP addicted borrowers who know nothing else.