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Tomorrow is the day of the mini budget.  How will it affect house prices?  What impact will it have on the economy?   Will it save jobs?  

https://www.google.co.uk/amp/s/www.actionforex.com/contributors/fundamental-analysis/309147-investors-await-uk-mini-budget/%3famp

UK Chancellor of the Exchequer Rishi Sunak is set to deliver a summer statement on Wednesday. The event, dubbed a ‘mini-budget’, will not have the impact or attract the widespread coverage as would an actual budget speech. Still, Sunak will be in the spotlight, if for no other reason that these are not normal times. The Corvid-19 pandemic has flattened the British economy, as GDP in the second quarter declined by 2.2%, revised downward from a drop of 2.0 percent.

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To be honest, I suspect very little radical measures re: taxation. As most others have pointed, currency devaluation via money printing will be their chosen method to "deal" with this crisis.

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12 hours ago, msi said:

 

How does one define what one owns? If you "own" your house but still have a mortgage...do you own it? The bank will beg to differ if you stop payment! Same for cars, same for anything bought on credit with an outstanding balance.

Having established the rules to define what we all own, how does the state gather such data? Another Doomsday book?

We have COVID and BREXIT so HMRC are kinda busy at the moment.

 

Easiest to administer and possibly most profitable....payment based on your the council rating on your place of residence (renting or not)...or past tax bills???

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5 minutes ago, ForGreatLager... said:

What’s with all the pictures of him posing with his black Fleshlight? Is he sponsored by them? Should he have a ‘Product Placement’ warning?

what next, you would expect the same with all his announcements then. "Stamp Duty cuts" sponsored by 'Barratt Property' Party Donation.

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35 minutes ago, Odysseus said:

VAT reduction coming 

Don't think this is possible yet. 

Under the Brexit/EU transition rules....

"under the draft Withdrawal Agreement concluded in November 2018, the UK would remain compliant with EU law, including VAT law, during the ‘transition period’ prior to the implementation of the new, yet to be negotiated, UK-EU partnership arrangements"

(From https://commonslibrary.parliament.uk/research-briefings/sn02683/ )

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19 minutes ago, crazypabs said:

Don't think this is possible yet. 

Under the Brexit/EU transition rules....

"under the draft Withdrawal Agreement concluded in November 2018, the UK would remain compliant with EU law, including VAT law, during the ‘transition period’ prior to the implementation of the new, yet to be negotiated, UK-EU partnership arrangements"

(From https://commonslibrary.parliament.uk/research-briefings/sn02683/ )

Our VAT on most products is higher than EU minimum, so yes, we could lower it.

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24 minutes ago, Gush said:

what next, you would expect the same with all his announcements then. "Stamp Duty cuts" sponsored by 'Barratt Property' Party Donation.

Stamp Duty cuts primarily benefit those in the south east.  For everyone else it's not making much of an impact.  

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1 hour ago, Roman Roady said:

How does one define what one owns? If you "own" your house but still have a mortgage...do you own it? The bank will beg to differ if you stop payment! Same for cars, same for anything bought on credit with an outstanding balance.

Having established the rules to define what we all own, how does the state gather such data? Another Doomsday book?

We have COVID and BREXIT so HMRC are kinda busy at the moment.

 

Easiest to administer and possibly most profitable....payment based on your the council rating on your place of residence (renting or not)...or past tax bills???

 

Exactly

My wife is jealous of her friend X this friend has a husband who earns 100k+ good for him.

They have a house 700k with a stupendous mortgage 80% LTV circa

friend X asks the wife how much is your mortgage.... we dont have one as we have been stuck in a flat for years due to my HPC religious conviction.

Who is wealthier?

a)  200k flat no mortgage and some savings.

b)  140K equity with a 560,000 loan and maxed out each month.

If you ask my wife B

HMRC I bet will be going for A
 



 

 

 

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2 hours ago, Roman Roady said:

How does one define what one owns? If you "own" your house but still have a mortgage...do you own it? The bank will beg to differ if you stop payment! Same for cars, same for anything bought on credit with an outstanding balance.

Having established the rules to define what we all own, how does the state gather such data? Another Doomsday book?

We have COVID and BREXIT so HMRC are kinda busy at the moment.

 

Easiest to administer and possibly most profitable....payment based on your the council rating on your place of residence (renting or not)...or past tax bills???

I agree hence rumour and why lately posted the 'standard taxes' that will be upped 

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2 hours ago, Roman Roady said:

We have COVID and BREXIT so HMRC are kinda busy at the moment.

Why KINDA ?????????????????

No one is KINDA anything - they are or they are not

I do not understand why so many people say KINDA - LIKE and do that idiotic thing of raising their voice at the end of a semtence so that it sounds like a question

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37 minutes ago, Fromage Frais said:

 

Exactly

My wife is jealous of her friend X this friend has a husband who earns 100k+ good for him.

They have a house 700k with a stupendous mortgage 80% LTV circa

friend X asks the wife how much is your mortgage.... we dont have one as we have been stuck in a flat for years due to my HPC religious conviction.

Who is wealthier?

a)  200k flat no mortgage and some savings.

b)  140K equity with a 560,000 loan and maxed out each month.

If you ask my wife B

HMRC I bet will be going for A
 



 

 

 

Because A is wealthier....not right mind but when has tax been fair, no different to taking an old dears home for care who has worked all her life whilst someone who has been on benefit all their life gets it for free 

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21 minutes ago, richmondtw said:

Why KINDA ?????????????????

No one is KINDA anything - they are or they are not

I do not understand why so many people say KINDA - LIKE and do that idiotic thing of raising their voice at the end of a semtence so that it sounds like a question

What'evs Bro, chill man!

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3 hours ago, Social Justice League said:

The Tories are going to start charging NHS staff to park again.  That will make a huge dent in the furlough bill..............lol

Tories gonna Tory, just pointlessly nasty to the little people even when it's counterproductive. They can't help themselves.

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  • 415 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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