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November Budget 2017


maverick73
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1 minute ago, Gigantic Purple Slug said:

Beeb says cars that do not meet the latest emissions standards, ie old cars.

“From April 2018, the first-year VED rate for diesel cars that don’t meet the latest standards will go up by one band,” Hammond said on Wednesday in his annual budget statement.

Reuters

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Just now, Northern Welsh Midlander said:

“From April 2018, the first-year VED rate for diesel cars that don’t meet the latest standards will go up by one band,” Hammond said on Wednesday in his annual budget statement.

Reuters

Yes - I see that now.

It's being confusingly reported though. I guess the key ref is his statement "first year". Found it hard to believe because the effect will be - well useless. The claim that it will affect "millions" I find hard to believe.

All this IME goes for the stamp duty as well. The devil is in the detail.

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8 minutes ago, Nabby81 said:

Expect all the new build flats , sorry Luxury apartments at 280k to all start advertising heavily no stamp duty to pay ..expect they will raise the prices too 

What will those developers who offer to pay the stamp duty to keep the selling price up offer as a sweetener now?

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Just now, Gigantic Purple Slug said:

Yes - I see that now.

It's being confusingly reported though. I guess the key ref is his statement "first year". Found it hard to believe because the effect will be - well useless. The claim that it will affect "millions" I find hard to believe.

All this IME goes for the stamp duty as well. The devil is in the detail.

Yep loads of the rags seem to be confused too!

https://www.express.co.uk/news/politics/882409/Budget-2017-diesel-tax-what-to-expect-autumn-cars-Philip-Hammond

Article says differently to what he actually said in the video at the top of the article....

 

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49 minutes ago, Tempus said:

Stamp duty cut. Or in other words, 99% of luxury shoebox flats targeted at first time buyers will now rocket to £299,995.

Stuff like this simply inflates the market. It ALWAYS does.

PS This website is technically very poor. Slow and inaccessible. Needs a new server. 

Do the maths...you can save up to £5K which means you can borrow more...which using HTB means you can have an extra £95,000

£300K new build houses just became £400K.

2nd hand houses will look cheap in comparison so they will shoot up £100K.

£25Bn extra for Term Funding yesterday then incentive for idiots to pile in and hand money to tory party funders and keep chains going, justy long enough for Carney to get out with his reputation in tact.

Also has the nice side effect of supporting hammonds property portfolio, possibly making him millions in the process.

2% for you....10's of millions for them.

These people are f**king evil.

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8 minutes ago, Monkey said:

It was, and only on cars. Not including vans etc.

 

But he did say it would not include new new Diesel engined cars. So there must be a plan to have some super low emitting of polutants Diesel engine in the works...

Euro 6 is an average limit for the manufacturer's range and does not stop you buying a higher-emitting performance model or Chealsea tractor

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27 minutes ago, Futuroid said:

Don't call us, we'll call you.

Tell me, do you fall for it every time?

I said:

'Tax or clawback of land with planning permission.

Use it or lose it, aimed at land hoarding.

Oh dear. Builders have finally been caught out.'

You replied:

'Yeah. Tories get tough on builders.

http://www.theconstructionindex.co.uk/news/view/tories-buouyed-by-construction-donations

Dream on! :lol:'

BBC says:

' Compulsory purchase of land banked by developers for financial reasons '

Like all budgets, Id give it a couple of days whilst the intended and unintended corners emerge.

 

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15 minutes ago, thehowler said:

Nothing on affordable housing - other than possible council loan building - and same old South East bias. Not much sign of the vaunted vision for the future.

Alongside slashing of growth forecasts. I can’t see him getting by to November 2018 without some kind of emergency budget. 

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10 minutes ago, TheCountOfNowhere said:

Do the maths...you can save up to £5K which means you can borrow more...which using HTB means you can have an extra £95,000

£300K new build houses just became £400K.

2nd hand houses will look cheap in comparison so they will shoot up £100K.

£25Bn extra for Term Funding yesterday then incentive for idiots to pile in and hand money to tory party funders and keep chains going, justy long enough for Carney to get out with his reputation in tact.

Also has the nice side effect of supporting hammonds property portfolio, possibly making him millions in the process.

2% for you....10's of millions for them.

These people are f**king evil.

100% agree.  The Tory party is a f***ing disgrace.

Disgusting.

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1 hour ago, Bruce Banner said:

What is a first time buyer?

No idea, but Hammond has implicitly just launched a new 'first time buyer credential-checking' industry which will no doubt involve lots of lovely paperwork, administrators, fees and delays. Oh, as well as perverse incentives and opportunities for fraud.

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13 minutes ago, TheCountOfNowhere said:

Do the maths...you can save up to £5K which means you can borrow more...which using HTB means you can have an extra £95,000

£300K new build houses just became £400K.

2nd hand houses will look cheap in comparison so they will shoot up £100K.

£25Bn extra for Term Funding yesterday then incentive for idiots to pile in and hand money to tory party funders and keep chains going, justy long enough for Carney to get out with his reputation in tact.

Also has the nice side effect of supporting hammonds property portfolio, possibly making him millions in the process.

2% for you....10's of millions for them.

These people are f**king evil.

i don`t think the young have the appetite for more debt .  can`t see it boosting anything 

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12 minutes ago, spyguy said:

I said:

'Tax or clawback of land with planning permission.

Use it or lose it, aimed at land hoarding.

Oh dear. Builders have finally been caught out.'

You replied:

'Yeah. Tories get tough on builders.

http://www.theconstructionindex.co.uk/news/view/tories-buouyed-by-construction-donations

Dream on! :lol:'

BBC says:

' Compulsory purchase of land banked by developers for financial reasons '

Like all budgets, Id give it a couple of days whilst the intended and unintended corners emerge.

 

"i heard the statement financial incentives" that said it all for me 

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15 minutes ago, spyguy said:

I said:

'Tax or clawback of land with planning permission.

Use it or lose it, aimed at land hoarding.

Oh dear. Builders have finally been caught out.'

You replied:

'Yeah. Tories get tough on builders.

http://www.theconstructionindex.co.uk/news/view/tories-buouyed-by-construction-donations

Dream on! :lol:'

BBC says:

' Compulsory purchase of land banked by developers for financial reasons '

Like all budgets, Id give it a couple of days whilst the intended and unintended corners emerge.

 

Revisit this topic 6 months after it has supposedly been brought in.

Then check how many builders have actually been caught with this.

My prediction = zero.  It's just words.

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54 minutes ago, guest_northshore said:

OBR: Economic and fiscal outlook – November 2017
http://budgetresponsibility.org.uk/efo/economic-fiscal-outlook-november-2017/

p.128: "The effect of this reduction in future SDLT costs would be expected to feed through into house prices – to be ‘capitalised’ – relatively quickly. Since the relief frees up FTBs’ savings to put towards higher deposits, these higher prices can be paid.

We assume that a temporary relief would feed one-for-one into house prices, but a permanent one will have twice that effect. On this basis, post-SDLT prices paid by FTBs would actually be higher with the relief than without it. Thus the main gainers from the policy are people who already own property, not the FTBs themselves. For some potential FTBs with smaller deposits, who are constrained by loan-to-value lending criteria, the relief will enable them to borrow a multiple of their SDLT saving, allowing them to buy properties that they otherwise could not afford – but more expensively."

All other things being equal. Ergo they're looking to cushion house price falls in nominal terms. All to be expected.

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26 minutes ago, Ash4781 said:

Alongside slashing of growth forecasts. I can’t see him getting by to November 2018 without some kind of emergency budget. 

Yup, emergency Brexit deal-on-table budget, late summer 2018 praps.

Can't see any gaffes yet, but maybe the clamour that it's all too weak might start to cut through. The growth predictions are a shocker. Mild stimulus from the Brexit preps money maybe...

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8 minutes ago, Si1 said:

All other things being equal. Ergo they're looking to cushion house price falls in nominal terms. All to be expected.

With BTLers crashing out hard over the next few years once the hard of thinking (95% of them) catch up with S24, this is a way to 'soft landing' demand while buying votes. Just as long as demand from FTBs doesn't increase past previous BTL levels. They are still going to be constrained by MMR etc. on lending and possible FLS tapering.

Oop north etc. this has little effect, most FTB properties are bellow the threshold.

Edited by Northern Welsh Midlander
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32 minutes ago, Option5 said:

House builders shares are taking a kicking, Persimmon, Berkeley, McCarthy and Stone and Barratt's all down

Tbf, I think house prices are crashing and these new measures are insufficient to stop it overall. There's nowhere near the money that Gordon Brown spunked on housing benefit and bank bailouts. This will soften the nominal falls. It's a damper to stop the general economy being dragged down by housing. I don't like it but there you go. It's great to be a property owning boomer though, heh.

Edited by Si1
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