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By *ercuryMan
over a year ago
Grantham |
"How do you think it will look and what things will they take, add? It will be tough with brexit to see a good out come  "
A man in a grey suit will deliver a grey budget.
Phillip "spreadsheet" Hammond is more diligent than spectacular. |
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By *abioMan
over a year ago
Newcastle and Gateshead |
1st crumb of actual info.... OBR forecast slower growth than before.... (and especially for centy, no that doesn't mean recession, that means the slowing growing economy in the EU is getting even slower.....) |
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By *ercuryMan
over a year ago
Grantham |
"Just waiting for the Pound to drop below the Euro.Time for this lot to go !!!!!!"
The Budget has proved to be currency "neutral".
Pretty much well received by business and the housing market.
Unambitious, steady and appearing to be well tested against the mistakes that occurred last year. |
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"A morsel of fortune for first time buyers. A reduction for stamp duty on properties under £500k. No stamp duty on properties below £300k."
Vendors will decide that as buyers don't need to spend 2% stamp duty they can make the asking price a little bit more expensive
Also...
Google to be allowed to demand a Search-Idleness Tithe from homeless
-Persistent reoffending homeless to be deployed in cycle-based energy factory
-Pensioners' winter fuel payments now provided in kind (two sacks of coal each)
-Deliveroo drivers requisitioned as bailiffs
-G4S to run Waitrose
-Serco now own all parks
-Virgin to trial new workhouse placement scheme for excluded schoolchildren |
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By *oo hotCouple
over a year ago
North West |
"Over a £billion investment to speed up universal credit.
£2.8 billion for NHS
£3billion extra to PREPARE for out eu exit ffs."
The money needed for Brexit be it for the divorce bill, the subsequent transition period and the money spent in the UK preparing for and dealing with its aftermath will go up and up and up over the coming months.
The final eye-watering final cost to us all will make the big red bus a symbol of political manipulation for generations to come. |
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By (user no longer on site)
over a year ago
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"A morsel of fortune for first time buyers. A reduction for stamp duty on properties under £500k. No stamp duty on properties below £300k."
Yes for England. |
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Stamp duty is no longer in place in Scotland as it replaced Stamp duty with the failed LBTT by the snp Scottish government. The Land and Buildings Transaction Tax (LBTT) is a tax applied to residential and commercial land and buildings transactions (including commercial purchases and commercial leases) where a chargeable interest is acquired. It was introduced in Scotland on 1 April 2015, replacing Stamp Duty Land Tax.
I wonder if the Scottish government will replicate this in next months budget? |
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By (user no longer on site)
over a year ago
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Stamp duty this fucking policy mainly rewards southern based properties tbh...the average price up north is 150 k or something stamp duty applies on properties over £130 k...does nothing for people on the living wage or just above cos they still cant afford to buy |
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By (user no longer on site)
over a year ago
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He tried his best. At least he told us a few facts - we have nearly spent £1b on brexit so far. Also £3bn (set aside) just in case was need it if it all goes wrong. A simple question what could we have done with that money? |
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By *oo hotCouple
over a year ago
North West |
"He tried his best. At least he told us a few facts - we have nearly spent £1b on brexit so far. Also £3bn (set aside) just in case was need it if it all goes wrong. A simple question what could we have done with that money?"
Dream on. That £3 billion is only for starters. The Brexit ”preparation” bill will morph into an even bigger Brexit “implementation” bill all to be added to the Brexit divorce bill and other payments needed to maintain the current status quo in any transition. |
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By (user no longer on site)
over a year ago
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"Stamp duty this fucking policy mainly rewards southern based properties tbh...the average price up north is 150 k or something stamp duty applies on properties over £130 k...does nothing for people on the living wage or just above cos they still cant afford to buy "
How can it reward properties in the south more than in the north?
If your house is more expensive you have to pay more Stamp Duty.
If average house prices are lower you pay less Stamp Duty. |
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By (user no longer on site)
over a year ago
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"He tried his best. At least he told us a few facts - we have nearly spent £1b on brexit so far. Also £3bn (set aside) just in case was need it if it all goes wrong. A simple question what could we have done with that money?
Dream on. That £3 billion is only for starters. The Brexit ”preparation” bill will morph into an even bigger Brexit “implementation” bill all to be added to the Brexit divorce bill and other payments needed to maintain the current statusp quo in any transition."
You could be right - but only time will tell..... |
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By *andS66Couple
over a year ago
Derby |
"Stamp duty this fucking policy mainly rewards southern based properties tbh...the average price up north is 150 k or something stamp duty applies on properties over £130 k...does nothing for people on the living wage or just above cos they still cant afford to buy "
Would you rather properties were the same price as in the south? |
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By (user no longer on site)
over a year ago
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"Stamp duty this fucking policy mainly rewards southern based properties tbh...the average price up north is 150 k or something stamp duty applies on properties over £130 k...does nothing for people on the living wage or just above cos they still cant afford to buy
Would you rather properties were the same price as in the south?"
You yet again missed the point totally...what the tories announced yesterday will do very little if anything for new homebuyers...especially the younger people....and to your answer your question...no id rather prefer they built proper affordable homes and they were the same price as up north....happy ? |
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By (user no longer on site)
over a year ago
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I would like to see more social housing and less private housing.
As it is they get these contracts and funding on the provision that certain precentages are for social housing and then change the figures to make more profits for the developers  |
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By (user no longer on site)
over a year ago
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yeah .... like house sellers won't be increasing the asking price of their houses by the amount of stamp duty which was removed or anything like that, surely?  |
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By (user no longer on site)
over a year ago
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"Over a £billion investment to speed up universal credit.
£2.8 billion for NHS
£3billion extra to PREPARE for out eu exit ffs.
The money needed for Brexit be it for the divorce bill, the subsequent transition period and the money spent in the UK preparing for and dealing with its aftermath will go up and up and up over the coming months.
The final eye-watering final cost to us all will make the big red bus a symbol of political manipulation for generations to come."
Right or wrong I'm assuming that amount is for "admin" costs. |
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By *oo hotCouple
over a year ago
North West |
"Over a £billion investment to speed up universal credit.
£2.8 billion for NHS
£3billion extra to PREPARE for out eu exit ffs.
The money needed for Brexit be it for the divorce bill, the subsequent transition period and the money spent in the UK preparing for and dealing with its aftermath will go up and up and up over the coming months.
The final eye-watering final cost to us all will make the big red bus a symbol of political manipulation for generations to come.
Right or wrong I'm assuming that amount is for "admin" costs."
It is to "prepare" the country for a number of potential scenarios. Like every other forecast that was given by this Chancellor, and previously George Osborne - it is a guess and probably wrong. Hundreds of millions will likely be spent on think tanks and a whole raft of European Agencies need to be replaced here in the UK as we will no longer be part of them outside of the EU.
There will be this "preparation" bill and subsequently an "implementation" bill when the govt realizes that farming, education and the economy will need propping for years to come and the "next to be named" Brexit implementation bill will actually be a pseudonym for a loan to cover the loss of tax receipts due to Brexit. A kind of walking stick if you like. |
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"Over a £billion investment to speed up universal credit.
£2.8 billion for NHS
£3billion extra to PREPARE for out eu exit ffs.
The money needed for Brexit be it for the divorce bill, the subsequent transition period and the money spent in the UK preparing for and dealing with its aftermath will go up and up and up over the coming months.
The final eye-watering final cost to us all will make the big red bus a symbol of political manipulation for generations to come.
Right or wrong I'm assuming that amount is for "admin" costs."
Nissan bung |
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By (user no longer on site)
over a year ago
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do you have a foreign car manufacturer that want's a pay-off to keep their base in your country? ... ker-ching! ..... maybe you have an oposition party that want's bribing in exchange for supporting your minority government ... ker-ching, ker-ching!! .... don't worry! all this and much much more can be paid for by just one wave of Mrs Maygabe's Magic Money Tree™ |
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By (user no longer on site)
over a year ago
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"do you have a foreign car manufacturer that want's a pay-off to keep their base in your country? ... ker-ching! ..... maybe you have an oposition party that want's bribing in exchange for supporting your minority government ... ker-ching, ker-ching!! .... don't worry! all this and much much more can be paid for by just one wave of Mrs Maygabe's Magic Money Tree™ "
(terms and conditions apply) |
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"He tried his best. At least he told us a few facts - we have nearly spent £1b on brexit so far. Also £3bn (set aside) just in case was need it if it all goes wrong. A simple question what could we have done with that money?
Dream on. That £3 billion is only for starters. The Brexit ”preparation” bill will morph into an even bigger Brexit “implementation” bill all to be added to the Brexit divorce bill and other payments needed to maintain the current statusp quo in any transition.
You could be right - but only time will tell..... "
There'll be a few more, a Brexit navel gazing bill, a contemplation bill and many commissioned reports as well as Brexit costs leeching from any and all departments budgets but never quantified. |
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By *andS66Couple
over a year ago
Derby |
"Stamp duty this fucking policy mainly rewards southern based properties tbh...the average price up north is 150 k or something stamp duty applies on properties over £130 k...does nothing for people on the living wage or just above cos they still cant afford to buy
Would you rather properties were the same price as in the south?
You yet again missed the point totally...what the tories announced yesterday will do very little if anything for new homebuyers...especially the younger people....and to your answer your question...no id rather prefer they built proper affordable homes and they were the same price as up north....happy ? "
What price do you think an affordable home is?
Whilst I lagree with you about affordable homes, houses are much more affordable up north than they are down south, and yet your post implied how unfair scrapping stamp duty for first time buyers in the north is! |
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By (user no longer on site)
over a year ago
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"Stamp duty this fucking policy mainly rewards southern based properties tbh...the average price up north is 150 k or something stamp duty applies on properties over £130 k...does nothing for people on the living wage or just above cos they still cant afford to buy
Would you rather properties were the same price as in the south?
You yet again missed the point totally...what the tories announced yesterday will do very little if anything for new homebuyers...especially the younger people....and to your answer your question...no id rather prefer they built proper affordable homes and they were the same price as up north....happy ?
What price do you think an affordable home is?
Whilst I lagree with you about affordable homes, houses are much more affordable up north than they are down south, and yet your post implied how unfair scrapping stamp duty for first time buyers in the north is!"
An affordable home is what they can afford and not have to scrimp and save up for a huge deposit unlike we didnt have to....there seems a lot wrong with our society when some people  think it was ok for us to have had it easier and not others....Martin Lewis came out straight away and said if anything it will increase the prices of homes and not help....who would you tend to believe?....and i didnt say it was unfair did i....i just see it as another tax on living standards in this great country |
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Here are a couple of little statistics to think about...
According to the OBR and ONS cutting stamp duty for first time buyers will cost £3.2 billion over the next 5 years, but will only result in an extra 3,500 homes being sold to first time buyers. That works out at costing £914,000 per home in lost tax revenue.
Hammond boasted about how this and the previous Tory led government has built 1,000,000 homes since 2010, that is 133,333 homes a year. That's the lowest yearly number of houses built since the 1920's.
If I were either Hammond or May I would not be boasting about these 2 'achievements'. In fact I would be scrapping one and attempting to correct the other. |
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"how does that maths work ?"
Really?
£3.2 billion is £3,200,000,000 divide that by 3,500 and you get £914,265.71 to be precise. Bit I rounded it down to the nearest 1000. The other piece of arithmetic is equally simple, divide 1,000,000 by 7.5 (after all the Tories have been in power for seven and a half years) and I arrived at 133,333.333 recurring a year. But you cant build a third of a house so I rounded down.
Not really maths just very simple arithmetic. |
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"how does that maths work ?
Really?
£3.2 billion is £3,200,000,000 divide that by 3,500 and you get £914,265.71 to be precise. Bit I rounded it down to the nearest 1000. The other piece of arithmetic is equally simple, divide 1,000,000 by 7.5 (after all the Tories have been in power for seven and a half years) and I arrived at 133,333.333 recurring a year. But you cant build a third of a house so I rounded down.
Not really maths just very simple arithmetic."
i read it as being the list tax from those houses. Whereas it’s the lost tax against all FTB houses (including those which were being bought anyway) versus the new FTB. Tbh it’s an odd ratio, which was what threw me. The best context I can read it is it would have been cheaper to have not scrapped the tax and use the FTB stamp duty to fund the new houses. My bad for trying to understand the underlying meaning of a ratio rather than just doing a sum. |
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"i read it as being the list tax from those houses. Whereas it’s the lost tax against all FTB houses (including those which were being bought anyway) versus the new FTB. Tbh it’s an odd ratio, which was what threw me. The best context I can read it is it would have been cheaper to have not scrapped the tax and use the FTB stamp duty to fund the new houses. My bad for trying to understand the underlying meaning of a ratio rather than just doing a sum. "
Now why would a right wing Tory government that is so idiotically opposed to any UK government (national or local) holding any UK assets in trust for the nation use any income to increase the housing supply when by abolishing a tax they can transfer that wealth to private property owners? |
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"i read it as being the list tax from those houses. Whereas it’s the lost tax against all FTB houses (including those which were being bought anyway) versus the new FTB. Tbh it’s an odd ratio, which was what threw me. The best context I can read it is it would have been cheaper to have not scrapped the tax and use the FTB stamp duty to fund the new houses. My bad for trying to understand the underlying meaning of a ratio rather than just doing a sum.
Now why would a right wing Tory government that is so idiotically opposed to any UK government (national or local) holding any UK assets in trust for the nation use any income to increase the housing supply when by abolishing a tax they can transfer that wealth to private property owners?"
no arguments here. |
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By *mmabluTV/TS
over a year ago
upton wirral |
"Stamp duty this fucking policy mainly rewards southern based properties tbh...the average price up north is 150 k or something stamp duty applies on properties over £130 k...does nothing for people on the living wage or just above cos they still cant afford to buy "
It is a policythat does nothing but grabs headlines
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"Stamp duty this fucking policy mainly rewards southern based properties tbh...the average price up north is 150 k or something stamp duty applies on properties over £130 k...does nothing for people on the living wage or just above cos they still cant afford to buy It is a policythat does nothing but grabs headlines"
and raises in certain areas massive revenue for the Exchequer..
15/16 in London alone in excess of £3.4 billion..
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"It is a policythat does nothing but grabs headlines"
Not really, it is a policy that transfers some £3,200,000,000 from the state to property owners (mainly property builders and speculators) over the next 5 years. That is another £640,000,000 a year that could have been given to the NHS but will now find its way into offshore tax havens. |
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