November Budget 2017

[rantnrave]

Given the Tories' predicament and need to court young 'uns, am I the only wondering how Gidiot would have handled this budget? As slimy as he is, he knows how to play the political game - timing the reinflation of the bubble to win the 2015 election, then setting in place anti-BTL measures to kick in for a planned vote in 2020.

Edited November 23, 2017 by rantnrave

[thehowler]

3 hours ago, kzb said:

Where is the £60 billion "divorce bill" in the deficit forecast?

Doubt it will clear 38Bn without a cabinet split, I heard 36Bn in Brussels last year would be enough.

Half on continued membership fees during departure, half to settle responsible necessities that might buy us into a few worthwhile schemes.

HofC repair bill estimate is 4 - 6 Bn, could easily double.

[kzb]

3 hours ago, Dyson Fury said:

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/661480/autumn_budget_2017_web.pdf

page 82 (numbered 80 / 86 in Acrobat), just up from the foot of the page immediately below the bold "National Accounts Taxes" summary line

Own resources contribution to EU : 2016/17 outturn was £3.4 billion, payments to be continued at £3.5 billion pa until at least 2022-23. 

If continued indefinitely, capitalisation at a rate of 20:1 gives an equivalent lump sum total of £70 billion.

Hmmm.....interesting.  So the budget basically plans for us to be still in the EU up to 2022-23 ?

But then again that EU Own Resources figure is much less than stated elsewhere.  Don't understand I'm afraid.

[kzb]

1 hour ago, thehowler said:

Doubt it will clear 38Bn without a cabinet split, I heard 36Bn in Brussels last year would be enough.

Half on continued membership fees during departure, half to settle responsible necessities that might buy us into a few worthwhile schemes.

HofC repair bill estimate is 4 - 6 Bn, could easily double.

Yeh, I was being somewhat ironic with the £60 billion. 

However like you say they still want a substantial lump sum.  What is more our own side seem to favour a lump sum rather than agreeing to pay our own share of pensions as an ongoing commitment.  There's no lump sum in the budget deficit forecast.

[Democorruptcy]

The £300 SDLT has worked a treat for them already.

This year Help to Buy Bail Banks and Profit Builders had started to get some bad press. However this week it's been little discussed in the media compared to how it might have been without the SDLT deflection.

[DarkHorseWaits-NoMore]

22 hours ago, MARTINX9 said:

The definition of a first time buyer is also different for the stamp duty relief compared to the help to buy isa bonus.

The stamp duty relief draft regulations define an FTB as someone who has never purchased a property in England and Wales and NI or acquired one elsewhere. The help to buy isa (or early lifetime isa withdrawal pre 60 benefit) definition excludes anyone who has held an interest in a property whether they bought it or inherited it.

If you have inherited a property before (in the UK or abroad) but have never actually bought one could you potentially be eligible for the FTB stamp duty relief - but not the help to buy isa bonus/lifetime isa early withdrawal entitlement before age 60?  Not clear to me -  and why the different definition of an FTB?

More Tax breaks gifted to Landlords' wifes and immediate family.
Guy at work was explaining to me how he works the system in such ways, just this morning.
I wonder if you can avoid the SDLT when gifting a £299k property to a sibling if they are so called FTBs?

 

[MARTINX9]

6 hours ago, thewig said:

Was in a meeting at work recently, with potential customers, mid-senior level management within NHS CCG. We were talking about the national shortage of nurses and how employers are offering them golden handshakes to recruit etc. figure of £5k was mentioned, this one Boomer Lady said "well that's a deposit on a house".

This was in West London.

 

Out of touch does not begin to describe it. I was trying to secure business "in work mode" so refrained from offering an alternate viewpoint to that one. Perception is reality I guess.

 

When she bought her house £5,000 was probably enough to buy the entire property.

My parents bought their house in London for less than my monthly take home pay.

[MARTINX9]

7 hours ago, kzb said:

Where is the £60 billion "divorce bill" in the deficit forecast?

We would be paying more than that to the EU anyway if we didnt leave over  the next 5 years. 

[Tempus]

They've got what they wanted. The Tories and the banks and the estate agents will be smiling at this headline.

Stamp duty stampede on first-time buyer homes in London

A first-time buyer stampede for homes was under way across London today after Philip Hammond slashed £5,000 off stamp duty bills in his Budget speech.

https://www.standard.co.uk/news/london/stamp-duty-stampede-on-firsttime-buyer-homes-in-london-a3699941.html

[Ash4781]

Just now, Tempus said:

They've got what they wanted. The Tories and the banks and the estate agents will be smiling at this headline.

Stamp duty stampede on first-time buyer homes in London

A first-time buyer stampede for homes was under way across London today after Philip Hammond slashed £5,000 off stamp duty bills in his Budget speech.

https://www.standard.co.uk/news/london/stamp-duty-stampede-on-firsttime-buyer-homes-in-london-a3699941.html

Says the standard! On another note I see people collecting that paper from train stations. The biggest readers of the Standard are cats in their litter trays.

[Dorkins]

7 hours ago, kzb said:

TBH you are probably right.  People respond to Virtue Signalling and Gesture Politics more than anything that would actually make a difference.  This is what budget day is becoming.

People know perfectly well whether they are homeowners or renters. Anybody who is still renting at the time of the next election won't think back to various virtue signalling budget speeches, they will say to themselves "I've been slogging my guts out for another 5 years and still no house to show for it, think I might vote to kick this lot out".

[Dorkins]

6 hours ago, rantnrave said:

Given the Tories' predicament and need to court young 'uns, am I the only wondering how Gidiot would have handled this budget? As slimy as he is, he knows how to play the political game - timing the reinflation of the bubble to win the 2015 election, then setting in place anti-BTL measures to kick in for a planned vote in 2020.

Could have used the extra 2 years provided by the 2017 general election to accelerate S24 and eliminate all mortgage interest relief for landlords by 2022.

[zugzwang]

1 hour ago, Ash4781 said:

Says the standard! On another note I see people collecting that paper from train stations. The biggest readers of the Standard are cats in their litter trays.

Now edited by none other than George Osborne!

[macca13]

14 hours ago, Option5 said:

They can build them, but are there any buyers left? Million pound flats in Battersea aren't exactly flying off the shelves. I think we've reached the point where most of those that can afford to buy have done so, nobody left who can pay the prices being asked. The only way to fix that is to reduce prices to a level that more people can afford.

 

Don’t bet on it.,, will be help BTL next.. poor helpless soles.. 

oh no it already is.. build to let.. guess where all the new money will go.. 

the circle I can’t square is all the debt through term funding scheme this is creating to keep borrowing cheap they are making piles of debt.. 100’s of billions just to keep borrowing low..

maybe we are all barking up the wrong tree, maybe house price inflation is a side effect of other vested interests.. 

like companies buying back their own shares.. see on the Kieiser report companies disappearing off the stock market, buying back so many of their own shares with cheap printed money they return to being privatised. 

So who knows what our evil masters are doing..

although I’m not sure they are that smart.. greedy yes.. smart no..

 

 

[UnconventionalWisdom]

8 hours ago, thewig said:

Was in a meeting at work recently, with potential customers, mid-senior level management within NHS CCG. We were talking about the national shortage of nurses and how employers are offering them golden handshakes to recruit etc. figure of £5k was mentioned, this one Boomer Lady said "well that's a deposit on a house".

This was in West London.

 

Out of touch does not begin to describe it. I was trying to secure business "in work mode" so refrained from offering an alternate viewpoint to that one. Perception is reality I guess.

 

Good restraint. It is being oblivious to young people's struggle that will cause a lot of harm. I actually use my nurse mate as an example of someone who gets screwed so much by real term pay reductions each year whilst simultaneously saving lives. Instead of addressing these issues, they continue to protect house prices. My nurse mate has an ex-colleague who moved down under- she was loving life! Made for uneasy viewing when compared to her peers here. 

[disenfranchised]

2 hours ago, Ash4781 said:

Says the standard! On another note I see people collecting that paper from train stations. The biggest readers of the Standard are cats in their litter trays.

I collect one without fail every week when I'm in London for the day. Usually coincides with VI ramping brochure / property supplement day.

Use it for the rest of the week with a splash of lighter fluid for getting the fires going!

[Ash4781]

I’d like to understand why the MPC is raising interest rates? (Edit: now that we have seen the OBR forecasts)

Edited November 24, 2017 by Ash4781

[longgone]

On 11/23/2017 at 1:15 AM, Castlevania said:

How would they ever find out? And if they did after you claimed, what's the worst thing that can happen? They ask for the money back? Between the HtB ISA and this you're looking at up to £8k. That's worth applying for even if not a first time buyer in the purest sense in my opinion.

hmm would they find out  owned a property 12 years ago ?? worth the risk not sure 

[MARTINX9]

2 hours ago, longgone said:

hmm would they find out  owned a property 12 years ago ?? worth the risk not sure 

If you owned a property in the UK - probably. If you owned a share of one abroad - or just inherited part of one - I am less sure. EU nationals will all be eligible to benefit until at least March 2019 - not clear how HMRC would be able to verify you owned a flat in Bucharest in 1989 under Ceauscescu.

So its all dependent on honesty - and where you owned. On the other hand will HMRC check anyway - £7,500 in stamp duty is better than zero!

[MARTINX9]

23 hours ago, Ash4781 said:

Says the standard! On another note I see people collecting that paper from train stations. The biggest readers of the Standard are cats in their litter trays.

And it seems to be based on someone offering £5k more for a property that afternoon  - £375,000 for a flat in Wandsworth these days seems cheap - and more people searching on rightmove?

[Wayward]

 

 

Budget 2017: Housing in focus, but green belt questions remain, says expert

It is difficult to see how the UK government will meet its house building targets without releasing some lower quality land from the green belt, a housing law expert has warned

 

https://www.out-law.com/en/articles/2017/november/budget-2017-housing-in-focus-but-green-belt-questions-remain-says-expert/

 

Be in no doubt that they have no intention of meeting target of 300,000.  Green belt and the views over country side enjoyed by the wealthy must be protected at all costs.  Just think of the cost of that view from that Surrey mansion's morning room in terms of human misery.

 

 

[zugzwang]

8 minutes ago, Wayward said:

 

 

Budget 2017: Housing in focus, but green belt questions remain, says expert

It is difficult to see how the UK government will meet its house building targets without releasing some lower quality land from the green belt, a housing law expert has warned

 

https://www.out-law.com/en/articles/2017/november/budget-2017-housing-in-focus-but-green-belt-questions-remain-says-expert/

 

Be in no doubt that they have no intention of meeting target of 300,000.  Green belt and the views over country side enjoyed by the wealthy must be protected at all costs.  Just think of the cost of that view from that Surrey mansion's morning room in terms of human misery.

 

 

They have no intention of building on green belt land, correct. The target of 300,000 will be met by re-defining what is meant by a home.

[Greg Bowman]

On ‎23‎/‎11‎/‎2017 at 10:04 PM, UnconventionalWisdom said:

Good restraint. It is being oblivious to young people's struggle that will cause a lot of harm. I actually use my nurse mate as an example of someone who gets screwed so much by real term pay reductions each year whilst simultaneously saving lives. Instead of addressing these issues, they continue to protect house prices. My nurse mate has an ex-colleague who moved down under- she was loving life! Made for uneasy viewing when compared to her peers here. 

I have an Australian friend who moved here and has raised his 4 lads in the UK successful man European MD of large corp. The nurse line rings a bell. He always said if you wanted careers that aren't government backed Nurses, teachers etc and as a youngster be at the front of new industries. Australia wasn't the place for you. Ignorant 50's mentality and 8 hours from anywhere. remember him and his wife are Australian.

In the UK if you are on six figures and live in the shires, life even now pretty good and opportunities because of our location so much more. But he always said if you were a trained nurse/doctor/police service/Fire service why the F*** would you stay in the UK ? I am surprised once trained any nurses stay with such a globally accepted skill.

Weirdly it's often easier to travel the global when you have a recognised skill and are in the 20-30k bracket than earning £150k at exec level

[Venger]

On 24/11/2017 at 5:06 PM, Ash4781 said:

I’d like to understand why the MPC is raising interest rates? (Edit: now that we have seen the OBR forecasts)

One journo in The Times put it this way a few days ago.

Quote

rate rise is because the economy is sickly.    ......can manage only 1 per cent productivity growth a year now, rather than 2.25 per cent before the crisis. Its forecasts mean that the economy is fundamentally weak and therefore more prone to inflation, which in turn means higher interest rates.

 

[Venger]

On 23/11/2017 at 2:17 PM, rantnrave said:

Given the Tories' predicament and need to court young 'uns, am I the only wondering how Gidiot would have handled this budget? As slimy as he is, he knows how to play the political game - timing the reinflation of the bubble to win the 2015 election, then setting in place anti-BTL measures to kick in for a planned vote in 2020.

At least Hammond didn't touch S24.  I like to imagine HMRC/Banks won't allow him to, and convinced him of the need for S24.  Although I also like to imagine it was a planned strategy to get the BTLers to dance in hard into BTL double-down last few years.

Osborne; all those posts that were claiming he was positioning to become Prime Minister.  Referendum and sudden change for him.

He played it as you say... but I can't imagine he would have done anything too different from Hammond in this Budget.  S24 still in play.