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Guest Winnie

Stamp Duty Idea Is Deferral, Not Holiday

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Guest Winnie

Big 10 minute feature just ending on the lunchtime news - BBC wheeled in all sorts of VIs of course - Mortgage Lenders, Labour Backbencher etc........ "they should cut interest rates, kill stamp duty, reduce mortgage rates, increase money pumped to lenders........" the whole spiel - and Sean Lay of course never stops them in their tracks....

The Sun has exaggerated it :rolleyes: - this is still only mooted and at this point Sean Lay said "the BBC have been led to understand that"* it will be:

- FTBs only / up to £250k (nb if it is the latter beware BTL bottom feeders....)

- Deferral, not holiday - ie THEY WILL HAVE TO PAY IT BACK LATER.....

Labour are so stupid and have such a low opinion of the public's intelligence....this is another sneaky Brown trick like the 10p tax - pretend you are providing relief but actually do nothing of the sort..........................

* In the regular am Stalinist briefing from the head of [left-wing propaganda] news..............

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Big 10 minute feature just ending on the lunchtime news - BBC wheeled in all sorts of VIs of course - Mortgage Lenders, Labour Backbencher etc........ "they should cut interest rates, kill stamp duty, reduce mortgage rates, increase money pumped to lenders........" the whole spiel - and Sean Lay of course never stops them in their tracks....

The Sun has exaggerated it :rolleyes: - this is still only mooted and at this point Sean Lay said "the BBC have been led to understand that"* it will be:

- FTBs only / up to £250k (nb if it is the latter beware BTL bottom feeders....)

- Deferral, not holiday - ie THEY WILL HAVE TO PAY IT BACK LATER.....

Labour are so stupid and have such a low opinion of the public's intelligence....this is another sneaky Brown trick like the 10p tax - pretend you are providing relief but actually do nothing of the sort..........................

* In the regular am Stalinist briefing from the head of [left-wing propaganda] news..............

I wonder what the Conservatives are promising?

Tory party conference pledge

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- Deferral, not holiday - ie THEY WILL HAVE TO PAY IT BACK LATER.....

...and the next step would be to allow deferred registering of price with the Land Registry to hide falls in price?

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Hmm, then the first time buyer has to pay two lots of stamp duty when they move. Trapped by debt, trapped by negative equity and trapped by tax. What an attractive prospect to encourage more lambs to the.....

Nothing is straightforward with this lot. Everything has a trap. Do you remember the days of tax simplification, fewer but broader tax base. Tax returns were a doddle, took an afternoon.

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Guest KingCharles1st

Gordon is the magician who puts his hand inside the hat to pull out the rabbit- and then finds to his horror the rabbit has fukked off- leaving him to sweat profusely under the heat and brilliance of the stage lights while the audience look on, salivating at his every twist and turn.

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The whole point is not the actual policy - it may/may not have much effect, its the fact that Brown as usual, has leaked/pre-announced this, and the subsequent media discussions will kill the housing market stone dead until the policy is 100% quialified, around late autumn by the sounds of it

Brown's pre-announcement of his plans to sell off the UKs gold reserves had a similar, striking effect, leading to the "Brown Bottom"

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This is the equivalent of an "interest free credit, buy now pay nothing for 18 months" sofa deal, but on a tax! :lol:

At this rate, I think Gordon might end up being the first PM to be sectioned under the mental health act.

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Guest DissipatedYouthIsValuable

Haha. Will it be deferred at 8.5% APR?

I'm rather enjoying this attempt at collapsing reality with a philosophical system of numerical constraints.

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The important bit as far as Brown is concerned is that he's taken a Tory policy. This takes credit for the Tories ideas and it insulates from attacks on this particular issue at no cost to him because it is only defering the payment.

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They'll be a lot more of those before this thing has run its course. :lol:

Is this deferral a 'loan' from the goverment? If we have government backed loans, is the government attempting to become a bank?

Is Gordon Brown a failed banker, in politics as no-one else would have him, now trying to be a bank?

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I don't get it. Why would deferring the Stamp Duty "kickstart" the housing market? Surely if we know prices are falling and we can defer Stamp Duty, we'll wait for prices to fall some more so that the deferred amount is less?

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Deferral has to come at the top of the list of useless ideas.

Currently, government is guaranteed to get its hands on the tax on completion of the purchase/sale.

how would this work? maybe they could use Provident Financial to collect it door-to-door, or add it on to the Tax Credit/Clawback system. :o

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Are they are so dumb not to realise this will kill the market dead for at least the 9 months or so it takes to impliment.

FTBs will not be very keen to buy until they know the ins and outs along with dates of the new policy.

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Probably the deferral idea is kite flying - the total ridicule it has received will turn it into a full holiday

But, as usual, by trying to be so clever Gord has caused total confusion and it will just make things worse - like with the 10p tax fiasco

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Labour are so stupid and have such a low opinion of the public's intelligence....

That, I'm afraid, implies a contradiction.

I wonder if they'll index link it to RPI inflation - like student loans?

Edited by A.steve

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Whats all this talk of FTBs leaving the market until Gordie's 'deferral' idea is sorted out? FTBs left the market years ago. :lol:

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  • 399 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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