Tuesday, August 5, 2008

Not axed, but a ‘temporary deferral’….WTF!

Government 'may defer' stamp duty

Chancellor Alistair Darling has refused to rule out changes to stamp duty after reports it may be temporarily axed to boost the housing market. And, Alistair Darling on BBC radio 4 Today programme http://news.bbc.co.uk/today/hi/today/newsid_7542000/7542400.stm (While McBroon keeps a low profile, Darling takes the Flak!).

Posted by whostolemyendowment @ 01:35 PM (1349 views)
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20 thoughts on “Not axed, but a ‘temporary deferral’….WTF!

  • If he is considering ‘deferring’ stamp duty may I suggest that he does something useful and consigns his ridiculous skanking HIPs to the dustbin of history. In typical government fashion he will procrastinate for months on the question of stamp duty, adding more stagnation to a decaying housing market. Are they all a pack of fools or is it merely a figment of my imagination?

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  • “Mr Darling said he was “looking at a number of measures” and had not “concluded exactly what we need to do”. ”

    Why not dither some more, then announce a half-baked plan which solves neither problem? You’re good at that.

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  • It is perfectly obvious what he needs to do. The whole crew have demonstrated their incompetance admirably. It is now time for an election so the electorate can show their supreme trust in them.

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  • It’s going to take a great deal more than suspending stamp duty to kick start the housing market. Those days are over.

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  • Rome – Fiddle – Nero – Burn !

    As the dithering continues anyone now thinking of buying a property has now decided to wait until stamp duty has been suspended. There will be a flood of properties onto the market when it is announced and the glut of unsold houses with falling prices gets bigger. Oh how the property market looks more and more like a bad game of chess!

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  • Orcusmaximus says:

    At least we can rely on Vince Cable to talk sense –

    Vince Cable said: “The government shouldn’t be trying to bribe people into buying houses in a falling market.
    With the economy grinding to a halt, we are already likely to see a shortfall in taxation. Suspending stamp duty, even on a temporary basis, will only make this situation worse.”

    He said falls in house prices were “painful but necessary” if first time buyers were to be able to get on the housing ladder.

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  • The way this has snuk out just beggars belief. DO they really want to de-stablise an already wobbly market?

    Is there anyone actually holding the reins of government. Has Gordy dreamt this up over his “full english” this morning or is the [email protected] with the doe like eyes and jet black eyebrows allowed to go out on his own nowadays?

    As every day that goes by, without actually announcing anything, the dithering, mess and muddle continues.

    Oh and the weather’s absolutely sh*te ‘n’ all!

    Thanks Nu Labour ! lol

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  • Government ‘may defer’ stamp duty!

    Wow a dither free policy from Gordy and the morons.

    Bliar must be p!ss!ing his pants with laughter at the mess he’s left to “the best chancellor since the second world war”.

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  • Just a thought and I don’t think they’re clever enough to plan this but ……..

    If you had an election coming up and you knew you’d loose if house prices were still falling would you

    a/ try and prop the housing market up with the risk it would be falling again by the time of the election

    b/ make it look like someone elses fault (SIV’s) and make it look as though you’re doing something to help. (Stamp Duty on Hold) whilst deliberately crashing the market as hard as possible in the hope the bottom will be found quickly and by 2010 things have started to pick up.

    Think about it.

    Suggesting they might suspend Stamp Duty will have the instant effect of everyone now refusing to purchase until it’s decided whether they will or not. So we should go from a 70% reduction in transactions to none atall quite quickly.

    By which point all sheeple will have lost all confidence.

    The only way Labour will save their ar5es is to get at least 30% off peak prices by the end of next year in the hope there will be a spring bounce in 2010.

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  • ha ha ha – whichever way it’s insane!

    Why don’t they just announce that everyone has to drop their prices by 30% – that would be slightly faster than having to wait.

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  • ………………………….More Spin……………………….

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  • hohoho

    Bye bye housing market…

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  • ………………………….More b*ll*cks……………………….

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  • Remember the date chaps : Tuesday 5th August 2008.

    The day the british government killed the property market stone dead!

    Unless, of course str 2007 @ 9 is right? Could be!

    I personally don’t think this lot have enough brains to navigate the average food lane at Asda than be sneaky enough to pull that off!

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  • This is exactly what Kirsty’s been calling for. Well, except that it’s only been hinted at and will only be temporary if it comes to pass at all. Anyway, when it fails will she find another hat to eat?

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  • I’ve just had another thought (see previous @ 9)

    If the you were an MP in power and knew your time was up and wanted to add to your property portfolio when prices bottomed out, but wanted to avoid all that horrible stamp duty stuff – what would you do ???

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  • I’m sure that when the breaking point comes for the most stalwart of BTLers, they will thank the government – as they hand the keys over to the STR’er who has just paid 40% of what the BTLer paid – for the fact that the new buyer doesn’t even have to pay tax on it!!!

    Thanks Badger!!

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  • waiting for the crash says:

    Govt ‘flair’ to distract from Northern Crock and make it look like they are doing something to support the housing market.

    But then again they arn’t getting much revenue from a frozen housing market, so in affect they are giving away nothing. Empty policy from an empty Governement.

    Notice the timing during the holiday session and when the Maddy case is back in the media.

    Those who want a Revolution please sign here…………………………..

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  • Andyatreading says:

    nooneo is right, this announcement is going to make buyers defer their purchases even further and cause the housing market to fall even more steeply in the short term. I’m not sure this is exactly what Darling had in mind.
    Come on Darling, continue to make more announcements to ‘stimulate’ the housing market.

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  • str 2007 @ 16

    you’ve gone too far now str 2007 suggesting that our political representatives are lining their own pockets….

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