[Politics] Hammond's Budget

[Jimmehh]

He can f-off. I bought my first house a matter of months ago and now he abolishes Stamp Duty...

I completed on mine at the end of Oct... don't even start lol

 

[Pavilionaire]

He didn't remove the triple lock which is a big help.

A lot of seniors I know, myself included, didn't vote for Brexit, so a weak attempt at 'humour'.

Even if you didn't vote for Brexit you have to agree that young people have been right royally shafted by successive governments from insane house prices, insane rents, insane tuition fees and student loans, and low wage growth.

It's a bit rich for seniors to ask for anything after all they've had, hence my "weak joke".

 

[cirC]

Whilst JC rambled on and all those around were trying to get some sort of rational response together good old Di the Abbott sat there with an ,do not ask me I haven't a f***ing clue look on her face.
Send them to Zimbabwe to see if they can sort the mess left by a marxist dic' there.

 

[Thunder Bolt]

Even if you didn't vote for Brexit you have to agree that young people have been right royally shafted by successive governments from insane house prices, insane rents, insane tuition fees and student loans, and low wage growth.

It's a bit rich for seniors to ask for anything after all they've had, hence my "weak joke".

Yes, because I'm a pensioner, I've never had to work hard or save for anything because it's all been given to me. After all I've had, indeed.

 

[Pavilionaire]

Blame the developers who are sitting on land with planning permission, to maximise their yield.

Not to mention asking for crazy money. 8 brand new houses in Ashington - 4 have been on the market for a year, 4 for 9 months, there have been various begrudging price decreases and only in the last couple of weeks has the first sale been agreed.

 

[RandyWanger]

He can f-off. I bought my first house a matter of months ago and now he abolishes Stamp Duty...

Yeah I'd quite like my money back too. Missed a stamp duty holiday a few years back by 3 weeks or somethng.

Im in the same boat. Where do we apply for the refund?

Same here.

 

[Pavilionaire]

Yes, because I'm a pensioner, I've never had to work hard or save for anything because it's all been given to me. After all I've had, indeed.

A full student grant and free education, affordable / low house prices, increasing living standards, benefits of EU membership, increased property prices, triple lock on pensions.

Compare that to the young: expensive education, unaffordable housing, high rents, decreasing living standards, growth stunted by Brexit decision, paying for the triple lock on pensions.

The Tory party are starting to realise they've alienated the youth, who back Corbyn and Remain by a clear majority, hence Hammond bending over backwards with his zero stamp duty and inflation-busting increases to the starting minimum wage.

 

[RandyWanger]

Blame the developers who are sitting on land with planning permission, to maximise their yield.

Philip Hammond's sitting on some himself isn't he?

 

[Berty23]

Even if you didn't vote for Brexit you have to agree that young people have been right royally shafted by successive governments from insane house prices, insane rents, insane tuition fees and student loans, and low wage growth.

It's a bit rich for seniors to ask for anything after all they've had, hence my "weak joke".

I don't agree re tuition fees. I know it gets headlines that Corbyn thinks it should be free but that is effectively a massive subsidy to the wealthy and one of the great blockers of social mobility. I went to uni in the late 90s and I was the last year with no fees but the loans and grants available were tiny. My loan was about 1800 quid a year. I worked all holidays and my folks paid my rent of 35 quid a week and gave me another 30 quid for food. Basically if your parents couldn't help you out then you could not afford to go hence few from poor backgrounds did.

Roll forward 20 years and everyone had to pay fees and you can get a good sizeable loan which can't be paid back early I.e. Parents can't help. You only pay off any of your loan as a percentage of your salary over 22k (or so). It is in effect a graduate tax (which is common across other countries). The vast majority of students (c75%) won't pay back their loans and it is just written off after so many years.

If this had been introduced as a graduate tax then this would be viewed very differently. This is not a loan which has set monthly repayments which must be paid.

Making tuition free means those who are likely to be higher earners are getting a benefit paid for by those who earn less. Why should the state pay for David Cameron's kids to go to uni? I find it odd that Corbyn is getting away with championing this as a socialist policy when in fact it helps the rich.

 

[Thunder Bolt]

A full student grant and free education, affordable / low house prices, increasing living standards, benefits of EU membership, increased property prices, triple lock on pensions.

Compare that to the young: expensive education, unaffordable housing, high rents, decreasing living standards, growth stunted by Brexit decision, paying for the triple lock on pensions.

The Tory party are starting to realise they've alienated the youth, who back Corbyn and Remain by a clear majority, hence Hammond bending over backwards with his zero stamp duty and inflation-busting increases to the starting minimum wage.

I left Grammar school at 16 so never had a student grant. In fact, when I was at school only the rich went to university. Everyone, rich or poor had free education up to 16, although secondary modern kids left at 15.

Housing wasn't cheap in the 60s because we were still catching up with the war damage. I finally managed to buy a home in the 70s with my ex.

This is what I hate about politics now. The whole country is divided. North v South, old v young, Remain v Brexit. Nothing will get sorted out for anybody until we get a leader and party prepared to serve the country instead of making false promises. I won't hold my breath.

 

[CHAPPERS]

A full student grant and free education, affordable / low house prices, increasing living standards, benefits of EU membership, increased property prices, triple lock on pensions.

Compare that to the young: expensive education, unaffordable housing, high rents, decreasing living standards, growth stunted by Brexit decision, paying for the triple lock on pensions.

The Tory party are starting to realise they've alienated the youth, who back Corbyn and Remain by a clear majority, hence Hammond bending over backwards with his zero stamp duty and inflation-busting increases to the starting minimum wage.

Stamp duty isn't worth that much to the Treasury.

 

[Bodian]

Not that I know of, others may know better. I think it's a scandal.

They could bring in powers that enabled them to 'confiscate' land in this situation. I think this was a Labour suggestion a few years ago.

 

[Thunder Bolt]

They could bring in powers that enabled them to 'confiscate' land in this situation. I think this was a Labour suggestion a few years ago.

That sounds like it could be fraught with legal difficulties making money for lawyers as it was fought out in the courts. Unfortunately, developers are private businesses.

I know of a plot of land that was sold over a year ago, quite near me, with planning permission and nothing has happened yet. excepting being fenced off.

 

[Deleted member 22389]

Not to mention asking for crazy money. 8 brand new houses in Ashington - 4 have been on the market for a year, 4 for 9 months, there have been various begrudging price decreases and only in the last couple of weeks has the first sale been agreed.

Yes they are crazy prices, semi detached new build bungalows 425,000 each, two doors from my mum, and the new owners will have to share part of the drive to get in and out, that's a fing joke. They won't go for that money I can tell you that now, 360,000 -. 380,000 might be nearer the mark but it's still a piss take. What can you do if you want to buy a house? Unless there is a housing crash, or you move up north, I can't see any other way houses will gone down in value. On the other side of all this building, it's creating a lot of work for builders and so on, that's a good thing.

 

[Foolg]

I am not. I am one of the lucky ones. It just doesn't seem right. We bought our first house in 2004 and I had it all sorted on 100% mortgage until at the end I was told I had 15k inheritance from when my gran died in the early 90s. These days it is next to impossible to get onto the property ladder unless you have inheritance or wealthy parents. I am lucky that my gran asked my dad to keep the money until I (and my siblings) was buying a house because otherwise my uni yearsbin the late 90s would have been different.

Exactly.

I'm 24, have saved up a 20% deposit for a flat in Brighton, because I earn good money for my age and live at home (paying minimal to cover bills/food etc.), but simply cannot find a lender to lend me enough.

I need (and want) to move out, but would just be throwing silly money away on rent so want to buy. The frustrating thing is I have been saving around £10k+ a year whilst making no real cutbacks, so know that I could afford the £600-700 repayments (more if I cut back on holidays/car etc.) - but no bank will lend enough.

The brief reading i've done this afternoon suggests no stamp duty will do little but raise prices by the equivalent amount.

 

[Berty23]

As pointed out by Laura k

Detail in OBR book found by eagle eyed [MENTION=29678]ali[/MENTION]son_McGovern is that main gainers from change will be people who already own property, because it will push up prices


It will have the opposite effect.

 

[Moshe Gariani]

As pointed out by Laura k

Detail in OBR book found by eagle eyed [MENTION=29678]ali[/MENTION]son_McGovern is that main gainers from change will be people who already own property, because it will push up prices


It will have the opposite effect.

Left leaners did not need any expert analysis to know that Tory policy would favour the better off. I know it gets knockabout on here but it really is that simple 99 times out of 100.

 

[nicko31]

Picking over the bones of today's budget. So we have an urgent problem with low productivity, what shall the Tories do about it?

Announce a £7bn National Productivity Investment Fund.......................for 2022-23. That's what you do in times of slow growth

 

[Sarisbury Seagull]

The way for young people to afford houses is to stop keeping house prices so effing high. Surely it would not be too hard to slap a massive tax on someone buying a buy to let if they already have one. Finding a 5% deposit for 250k house is not easy when rent is so high.

They already do this. A 3% stamp duty sur-charge for 2nd home ownership. This has meant buy-to-let sales have dropped dramatically.

The problem with this is it has reduced the supply of rented property meaning rents have gone up so it's even harder to save for a deposit.

 

[CHAPPERS]

Bloody hell. 26bn loss on RBS shares for the taxpayer.