Absolutely.True, but that's only because their views were useful to a bunch of hedge fund millionaires.
Absolutely.True, but that's only because their views were useful to a bunch of hedge fund millionaires.
BTL landlords are amongst the last people I will be shedding a tear for, using renters to buy a property for them.And there are dark clouds coming in the property market. In BTL not being able to offset mortgage interest was OK with 2% rate but with 6% rates the business model will be on its arse, especially for JCL's
Prices are going to fall and the blame will be on the government, Labour will milk it
Let's wait and see. Starmer is an intelligent man, I'd be amazed if they hadn't got a set of policies ready to be written into a manifesto at a moment's notice. But there's little benefit to them shouting about policies now when a) they could be stolen by the Tories, b) there's more time for the media to dig holes and form a narrative, and c) they could be forgotten about, or become less relevant between now and the next election.trouble with him keeping his cards close to his chest and not actually stating much in the way of what his policies are/would be is that it makes one wonder if he actually has any or if indeed he knows what he would do. It’s a fairly simple job standing in the side lines saying the government have got it all wrong and they should do this or that.
Over a single term I don't think it's much of a problem, as the new Government will obviously also be finding it's own feet and need time to grow into the role. However if it lasts too far you get that same Government becoming complacent and taking decisions which it would struggle to justify if the opposition was stronger. Blair and Iraq and Thatcher and the Poll Tax both good examples of this.But would this necessarily be a good thing?
A strong, credible opposition is every bit as important as an effective government.
I agree. In my view, the route to economic growth for the UK in the future is not through tired old "trickle down" policies aimed at trying to increase investment in our existing economy. That economy is tapped out - there's no slack in the labour market, and it's been no better than drifting along for the last decade already.I think that tinge of green is incredibly important. Reducing energy usage via insulation and energy efficiency is important, as is pivoting to renewable energy and energy storage solutions. To have a government that is actively hampering these efforts is an act of self-harm that should not be easily forgiven.
Hopefully many will go bust reducing the market price.BTL landlords are amongst the last people I will be shedding a tear for, using renters to buy a property for them.
curious if the labour market has no slack for the old ways, how will there be slack for new ways? presumably there are the industries and business we're going to close, who's telling anyone about this?I agree. In my view, the route to economic growth for the UK in the future is not through tired old "trickle down" policies aimed at trying to increase investment in our existing economy. That economy is tapped out - there's no slack in the labour market, and it's been no better than drifting along for the last decade already.
What we need to do is encourage restructuring of the economy to put us on the best possible footing for the future. We need to invest in emerging green technologies, insulate ourselves from the inevitable crash in the fossil-fuel economy. The shift is going to happen, the sooner the UK orients its economy growth that way the better.
Yep. And for the bits that stay:Looks like the mini budget is being thrown out other than-
- relaxation of stamp duty
- changes to nics
- energy guarantee to be rejigged so that it is means tested in year 2?
well that makes no sense, means testing energy cap destroys everyone above the arbitary threshold. the whole point of this energy tariff cap was suppose to be the energy providers borrowing with guarantees, not the full amount landing on the government balance sheet. we've never actually seen the details though.Looks like the mini budget is being thrown out other than-
- relaxation of stamp duty
- changes to nics
- energy guarantee to be rejigged so that it is means tested in year 2?
Since she has been banging on about the energy price guarantee as being a central element of her budget and leadership campaign surely she will have to stand down? It seems that it was too costly and was leaving a bigger deficit in the budget than previously estimated.
You'll have a transition period even if the Trusster**** government has the balls to go for it. Initially it'd be driven by R&D, and supporting start-ups getting into the relevant sectors to build that new economy. Both fairly low-labour in comparison to existing mature segments of the economy. Once you have the foundations of the new green-conscious economy laid, you'll then find a period where you see labour flowing from the old, dying industries into the new, growing industries.curious if the labour market has no slack for the old ways, how will there be slack for new ways? presumably there are the industries and business we're going to close, whose telling anyone about this?
it was all very sensible until the last bit, have i been whooshed?Absolutely my take as well. Only way forward is now to take the defeat and come back stronger. Whole party needs to look at what the members want as there is a massive disconnect between members and MPs which is not good for democracy.
I really wouldn't be surprised if the Tories lose by so much that half the current MPs lose their seats which may be no bad thing in the long run.
At that stage, don't be surprised of Boris comes back as a very effective opposition leader. It's the easiest job in the world and he would do it very effectively.
A work colleague has a friend that has just been told her rent is going up by £300 a month. Looks like they are just going to pass the cost on to the tenant...BTL landlords are amongst the last people I will be shedding a tear for, using renters to buy a property for them.
If you’re preparing a large sixth form essay I’d strongly counsel you that no one on here will a) read it or b) give a shiny shit.
If it’s something that “just is”, like breathing, then you don’t need to keep mentioning it.
It’s not though, is it? It’s a discredited pseudo science that has to have very certain conditions to “just be”, cannot be backed by a mathematical model, urges the printing of additional money (great idea right now, not) and is, for the last time a THEORY and not fact. The T in the title is a giveaway
It’s been debunked by far more economists than have supported it. Frankly, you can get that from Wikipedia!I`ll keep it brief - MMT has not been discredited - please give evidence of this. MMT is a school of economic thought. All of economics is a pseudoscience in that sense as economic is a social science unlike chemistry or physics. MMT does not propose the unlimited printing of addtional money - where did you get that idea from? Some elements of MMT are undisputable observable facts or can be deduced from simple logic. For example, banks and the central government do create money out of thin air by keystrokes on a computer, and tax does not fund government spending in the UK as citizens must have money in their pockets first before they can pay tax, and the money of course is produced by the government or their agents, the banks. Also, yes I agree maybe MMT should have been called something else like modern monetary description but in addtion to the purely descriptive stuff, Professor Bill Mitchell and others have done a lot of work on issues like the need for a job guarantee and unemployment buffer stocks etc which involve a lot of theoretical work.
Yep. Many BTL landlords punted on interest rates remaining very low, taking on the invest risk that they would rise and make their investments less lucrative. No different to any other type of investment, except for goodness knows how long they’ve only seen upside so have ignored/forgotten the potential downside. They won’t be able to put rents up to compensate, so expecting a flood of properties on the market as they fall behind with payments, and then prices will fall.And there are dark clouds coming in the property market. In BTL not being able to offset mortgage interest was OK with 2% rate but with 6% rates the business model will be on its arse, especially for JCL's
Prices are going to fall and the blame will be on the government, Labour will milk it
Looks like the mini budget is being thrown out other than-
- relaxation of stamp duty
- changes to nics
- energy guarantee to be rejigged so that it is means tested in year 2?
Since she has been banging on about the energy price guarantee as being a central element of her budget and leadership campaign surely she will have to stand down? It seems that it was too costly and was leaving a bigger deficit in the budget than previously estimated.
Agreed, there is no way landlords can wack prices up. There is will be distressed sales....Yep. Many BTL landlords punted on interest rates remaining very low, taking on the invest risk that they would rise and make their investments less lucrative. No different to any other type of investment, except for goodness knows how long they’ve only seen upside so have ignored/forgotten the potential downside. They won’t be able to put rents up to compensate, so expecting a flood of properties on the market as they fall behind with payments, and then prices will fall.
in bold, you make this statement as if it is undeniable fact, and its the basis of MMT. some problems.I`ll keep it brief - MMT has not been discredited - please give evidence of this. MMT is a school of economic thought. All of economics is a pseudoscience in that sense as economic is a social science unlike chemistry or physics. MMT does not propose the unlimited printing of addtional money - where did you get that idea from? Some elements of MMT are undisputable observable facts or can be deduced from simple logic. For example, banks and the central government do create money out of thin air by keystrokes on a computer, and tax does not fund government spending in the UK as citizens must have money in their pockets first before they can pay tax, and the money of course is produced by the government or their agents, the banks. Also, yes I agree maybe MMT should have been called something else like modern monetary description but in addtion to the purely descriptive stuff, Professor Bill Mitchell and others have done a lot of work on issues like the need for a job guarantee and unemployment buffer stocks etc which involve a lot of theoretical work.