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Economy set for November crunch as banks told to end mortgage holidays


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In the DT. Of course Sunak will ride to the rescue and burn more tax payers money on a lost cause...if the Tories let him. There is already a significant rebellion growing at the sheer incompetence and lack of conservative values displayed by Boris and Co.

Banks to end mortgage holiday

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The furlough programme, which pays up to 80pc of wages for workers unable to do their jobs, will end on the same day - potentially triggering mass redundancies as firms sack staff who they can no longer afford.

It means Nov 1 could be the day when the true extent of the economic havoc wreaked by Covid is finally revealed.

 

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Sunak is 100% Blairite, if the Labour party had won the last two elections he'd be in the Labour party. He's out to spend as much as he can so that the government can do business with his old friends in the City who will lend them everything they need.

This will then be used as justification for tax rises to destroy whats left.

 

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41 minutes ago, HovelinHove said:

In the DT. Of course Sunak will ride to the rescue and burn more tax payers money on a lost cause...if the Tories let him. There is already a significant rebellion growing at the sheer incompetence and lack of conservative values displayed by Boris and Co.

Banks to end mortgage holiday

 

I thought it was only 6 months of mortgage holidays, March to August.  Are they saying it's possible to take Sept and October too so up to 8 months mortgage holiday? I can read this it's blocked behind a paywall.  

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Add this to the November 1 equation.

Barnier says Brexit deal needed by late October to ensure safe ratification

“If we are to ensure the ratification of a new treaty in a secure way before the end of the year, we need to have an agreement by around Oct. 31,” Barnier told a French employers’ federation conference outside Paris.

Something's gotta give, shirley.

Will it be

  1. Furlough scheme extensione
  2. Mortgage holiday extension
  3. EU transition period extension
  4. All of the above

 

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9 hours ago, TwoWolves said:

Sunak is 100% Blairite, if the Labour party had won the last two elections he'd be in the Labour party. He's out to spend as much as he can so that the government can do business with his old friends in the City who will lend them everything they need.

This will then be used as justification for tax rises to destroy whats left.

 

Blairite and Borisism. Even if it’s just the philosophy it’s easier to blame a left philosophy of spending than the right. 

This isn’t socialism this is the new capitalism, the new right and has been for a decade or two. Spend lots of money to support the economy and the big boys and eventually the trickle down helps the poorer. 😆, yeah sure it will. 

Help to Buy, eat out to help out, furlough isn’t about helping the recipients....it’s about helping the recipients of the recipients.

Like housing benefit goes to landlords...yum yum. Snouts in the trough.

Shame we don’t have any politics or politicians genuinely for the benefit of the voters. Never mind...😉

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9 hours ago, markyh said:

I thought it was only 6 months of mortgage holidays, March to August.  Are they saying it's possible to take Sept and October too so up to 8 months mortgage holiday? I can read this it's blocked behind a paywall.  

6 month for an individual but period you can start your claim is longer. 

E.g if you started a mortgage holiday in may you can get 6 months, in April you could hsve 6 months with corresponding finish dates. 

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11 hours ago, TwoWolves said:

Sunak is 100% Blairite, if the Labour party had won the last two elections he'd be in the Labour party. He's out to spend as much as he can so that the government can do business with his old friends in the City who will lend them everything they need.

This will then be used as justification for tax rises to destroy whats left.

 

Sunak was hired because he is 100% Cummings - Weak attempt at trying to Labour

This is a 100%Tory mess - from a Tory party that gave up any belief in what it means to be a conservative. The Tories have spent more in this parliament than any other.

We don't need whining about TINA....we need results

 

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5 minutes ago, msi said:

Sunak was hired because he is 100% Cummings - Weak attempt at trying to Labour

This is a 100%Tory mess - from a Tory party that gave up any belief in what it means to be a conservative. The Tories have spent more in this parliament than any other.

We don't need whining about TINA....we need results

 

I don’t Boris will last long. He will oversee Brexit, then move on. Then the Tory party will reassert it’s recent MO.

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5 minutes ago, HovelinHove said:

I don’t Boris will last long. He will oversee Brexit, then move on. Then the Tory party will reassert it’s recent MO.

Reassert or reassess? 

Why do you think BoJo would quietly leave if Brexit is done? It is not like he has an ideal or anything. It is a mean and not an end for him.

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1 hour ago, Freki said:

Reassert or reassess? 

Why do you think BoJo would quietly leave if Brexit is done? It is not like he has an ideal or anything. It is a mean and not an end for him.

Maybe...he may get pushed out if he doesn’t get his act together. He has become reviled his own core due to his bumbling approach to Covid 

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16 hours ago, Si1 said:

Well why didn't the Tories rebel against help to buy then?

I read somewhere that Osborne knew this would get the Tories re-elected in 2015. In 2011/12 I recall housing prices being either stagnant or going to say -1% thereabouts over a long period. Tory voters generally own so presumably they bribed their base to get them over the finishing line.

Seems to have worked.

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Just now, DisgruntledCynic said:

I read somewhere that Osborne knew this would get the Tories re-elected in 2015. In 2011/12 I recall housing prices being either stagnant or going to say -1% thereabouts over a long period. Tory voters generally own so presumably they bribed their base to get them over the finishing line.

Seems to have worked.

Fully agree with this.

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15 hours ago, Deckard said:

Add this to the November 1 equation.

Barnier says Brexit deal needed by late October to ensure safe ratification

“If we are to ensure the ratification of a new treaty in a secure way before the end of the year, we need to have an agreement by around Oct. 31,” Barnier told a French employers’ federation conference outside Paris.

Something's gotta give, shirley.

Will it be

  1. Furlough scheme extensione
  2. Mortgage holiday extension
  3. EU transition period extension
  4. All of the above

 

4 - this government have chosen the kick the can down the road approach without any original decision making.

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2 hours ago, DisgruntledCynic said:

4 - this government have chosen the kick the can down the road approach without any original decision making.

A cynic might say, kick the can to 2020 and be so sh*t that it becomes Labours problem.  Then win another 10 years blaming Labour for the resulting pain to correct Tory mistakes.

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6 hours ago, DisgruntledCynic said:

I read somewhere that Osborne knew this would get the Tories re-elected in 2015. In 2011/12 I recall housing prices being either stagnant or going to say -1% thereabouts over a long period. Tory voters generally own so presumably they bribed their base to get them over the finishing line.

Seems to have worked.

Yeah, of course Tory MPs aren't going to be stupid enough to rebel against a policy that props up prices. Why would they?

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5 minutes ago, Bugger BTL said:

Yeah, of course Tory MPs aren't going to be stupid enough to rebel against a policy that props up prices. Why would they?

They may do that, give in weakly to vested interests.

In which case we'll have a long drawn out lethargic economy characterised by high inflation and poor economic growth. It will be the 70s again. House prices won't survive that. Neither will much other wealth and income.

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On 26/08/2020 at 22:35, TwoWolves said:

Sunak is 100% Blairite, if the Labour party had won the last two elections he'd be in the Labour party. He's out to spend as much as he can so that the government can do business with his old friends in the City who will lend them everything they need.

This will then be used as justification for tax rises to destroy whats left.

 

Blair didnt do numbers of money, bar buns from Despots.

Sunak is a daft, over educated management consultant type.

 

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2 hours ago, spyguy said:

Blair didnt do numbers of money, bar buns from Despots.

Sunak is a daft, over educated management consultant type.

 

and more importantly, Sunak will do 100% of whatever Cummings asks of him

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On 27/08/2020 at 14:29, Si1 said:

Fully agree with this.

https://www.independent.co.uk/incoming/inside-westminster-george-osborne-s-housing-boom-will-echo-into-the-future-8869835.html

Quote

“Hopefully we will get a little housing boom and everyone will be happy as property values go up,” George Osborne is said to have quipped at a Cabinet meeting earlier this year.

 

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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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