Thursday, Jul 30, 2015

“London is the world centre for washing money

The Evening Standard: How to keep dirty money out of property in the UK

“It should be self-evident that London is the world centre for washing money, because there is no logical reason for any normal person to pay those crazy prices.
“What other reason could there be? Not only is it the easiest place on Earth to launder money, but you get bragging rights thrown in as a bonus.”
[...] by bringing estate agents into line, by requiring them to comply with standards that apply as a matter of course elsewhere, the buying and selling of property could be made a lot cleaner. And sanity would be restored to the property market.
Who knows? Local people may be able to buy property again. Perish the thought.

Posted by sneaker @ 10:45 AM (4664 views)
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7 Comments

1. cyril said...

If you type "London money laundering" into Google you get 24 million hits - so I am guessing that David Cameron already suspected something might be going on. Why mention it now I wonder?

Thursday, July 30, 2015 10:17AM Report Comment
 

2. sneaker said...

Because London is more Labour than the surrounding Home Counties and there's votes to be had by making London affordable for locals. Offshore oligarchs don't vote and it will be popular to "take them out".
The Tories are more nationalistic than Labour.
Meanwhile Corbyn is brewing up a classical left-wing version of a similar stance.
Both left and right realise that people can't pay rent once they've retired, which means the state picks up the bill in some way.
So it makes sense to address this topic.
"London for Londoners" is an idea that all parties will support.

Thursday, July 30, 2015 10:33AM Report Comment
 

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6. p. doff said...

But if you keep dirty money out of London won't house prices in outer areas like Enfield plummet. :)

Thursday, July 30, 2015 05:04PM Report Comment
 

7. reticent said...

Impressive article for a Ledbedev-owned freesheet.

Tough to get EAs to follow the same regulations as people with qualifications I would have thought, but a worthwhile plan otherwise.

Thursday, July 30, 2015 08:46PM Report Comment
 

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