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Budget 13:31 - Nov 22 with 2747 viewsArcher4721

Hammond looks petrified, no doubt he'll find the money to look after his paymasters though.



Any coincidence the number of Tories wearing orange today?
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Budget on 18:37 - Nov 22 with 880 viewsClapham_Junction

Budget on 18:03 - Nov 22 by gerard1947

Some may say the selling of social housing in the Thatcher years caused problems that are still with us. Some of that housing stock in London has found itself into the hands private landlords and of international investors, some of latter are being left empty. There are examples of flats in high rise blocks needing sprinkler systems where works cannot be undertaken because their foreign owners will not cooperate.


Only some may say? The introduction of right-to-buy is probably the prime cause of our current housing problems. As well as largely destroying the incentive for councils to build housing (prior to the introduction to RTB private developers and councils built roughly the same amount of housing; after council building dropped off, developers didn't pick up the slack - if councils had kept building at the same rate then around an extra five million properties could have been built since the early 1980s), as you say a lot of it has ended up being privately rented (where I live its close to 80%), meaning people are paying huge sums in rent instead of spending it in the local economy. Having leasehold flats also causes councils problems in making improvements to blocks and estates.

Last year I met some film-makers who were making a documentary in Tower Hamlets about housing. They had found a documentary from the 1930s about the council housing that was being built at the time to provide good quality accommodation for people who had been living in privately-rented housing where people rented on a room-by-room basis. Their documentary was covering how this had gone full circle and much of the housing built in the 30s is now in the lands of private landlords who are renting it out on a room-by-room basis.

Quite why RTB hasn't been scrapped several years ago is beyond me. Yet again it seems we (England) are lagging behind the Scots and Welsh in terms of positive policy decisions
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Budget on 18:46 - Nov 22 with 869 viewsSwansea_Blue

Budget on 16:10 - Nov 22 by No9

I only heard part of the budget, the most disconcerting thing is the forecast continuing fall in GDP and productivity.
Soemwhere along the line they will have to raise taxes.
The stamp duty bit will help to increse house prices.

Plenty of money for EU Contractors tho'


Bingo. Took a while for someone to see the real problem rather than be sucked in by the little giveaways that we've seen before. Lowest in G7 and forecasts being downgraded again.

This house building target isn't new. It's a good way to make headlines away from poor growth performance though. Didn't Cameron commit to 1 million new homes within his parliament. That was readjusted to 1 million new homes by end 2020. Now Hammond has said 300,000 a year, which will be just shy of 1 million by end 2020. And these targets fall short of sector recommendations (although they do match the Lords' report from ladt year).

Anyway, growth is the issue. The rest is largely insignificant.

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Budget on 19:29 - Nov 22 with 837 viewsJ2BLUE

Budget on 14:25 - Nov 22 by gerard1947

It's not just about building more affordable house whilst of course that helps. We have a generation of young people who are simply not earning enough to leave home. This includes many educated to a level far higher than those who have gone before. If the parental money tree can't be shaken many cannot see a way out.

Unfortunately I fear many can't see much further than a life living at home, on low wages, temporary contracts, zero hour contracts and unpaid internships. Buying houses as an investment by those with money helps to keep prices high. I'll admit this does provide rental stock but at the expensive of those wishing to get onto the housing ladder.

Until the economy improves dramatically or radical steps are taken to increase the pay of ordinary young people I fear affordable housing policies will be nothing but weasel words. If things were different demand would naturally dictate supply.

In my lifetime I have seen the standard of living in this country rise for each generation until this one. I really feel for their future.


+1, fantastic post.

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Budget on 20:07 - Nov 22 with 822 viewsLeoMuff

Budget on 14:25 - Nov 22 by gerard1947

It's not just about building more affordable house whilst of course that helps. We have a generation of young people who are simply not earning enough to leave home. This includes many educated to a level far higher than those who have gone before. If the parental money tree can't be shaken many cannot see a way out.

Unfortunately I fear many can't see much further than a life living at home, on low wages, temporary contracts, zero hour contracts and unpaid internships. Buying houses as an investment by those with money helps to keep prices high. I'll admit this does provide rental stock but at the expensive of those wishing to get onto the housing ladder.

Until the economy improves dramatically or radical steps are taken to increase the pay of ordinary young people I fear affordable housing policies will be nothing but weasel words. If things were different demand would naturally dictate supply.

In my lifetime I have seen the standard of living in this country rise for each generation until this one. I really feel for their future.


Is not about wages so much as the cost of buying a house ? They cost so much as supply is not meeting demand, we need a way of preventing buy to let and making second homes hugely expensive, to get these properties back in the system if we are serious about affordable home ownership for young people.

The only Muff in Town.

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Budget on 09:19 - Nov 23 with 684 viewsStokieBlue

Interesting stuff from McDonnell:

http://www.huffingtonpost.co.uk/entry/john-mcdonnell-budget-response_uk_5a15a849

Apparently he went further and said he didn't need to know figures as ministers have iPads.

SB

Nothing else needed

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Budget on 09:30 - Nov 23 with 670 viewsNo9

Budget on 09:19 - Nov 23 by StokieBlue

Interesting stuff from McDonnell:

http://www.huffingtonpost.co.uk/entry/john-mcdonnell-budget-response_uk_5a15a849

Apparently he went further and said he didn't need to know figures as ministers have iPads.

SB


That's politics isn't it?
Mr McDonnell isn't CoE & is not likley to be for some time.
The real issue is that the current CoE is forecasting a 3 to 5 year decline in GDP, Investment & productivity = during his or is party's tenure. That is the important thing.
Top that with the money being handed out to tory projects HS2, CR2 & energy project ALL to be constrycted by EU contractors and, to be paid in Euros and the picture changes.

Andrew Neil will make a political poin t of how to open a bag of crisps so in the big picture is irrelevant-
I'm very surprised you have fallen for that when the BIG picture is rather serious & the people running the country at the monet show no signs of understanding that let alone recovering to sompete with anyone -you do see where they are driving this?
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Budget on 12:07 - Nov 23 with 610 viewslowhouseblue

Budget on 09:30 - Nov 23 by No9

That's politics isn't it?
Mr McDonnell isn't CoE & is not likley to be for some time.
The real issue is that the current CoE is forecasting a 3 to 5 year decline in GDP, Investment & productivity = during his or is party's tenure. That is the important thing.
Top that with the money being handed out to tory projects HS2, CR2 & energy project ALL to be constrycted by EU contractors and, to be paid in Euros and the picture changes.

Andrew Neil will make a political poin t of how to open a bag of crisps so in the big picture is irrelevant-
I'm very surprised you have fallen for that when the BIG picture is rather serious & the people running the country at the monet show no signs of understanding that let alone recovering to sompete with anyone -you do see where they are driving this?


"The real issue is that the current CoE is forecasting a 3 to 5 year decline in GDP, Investment & productivity = during his or is party's tenure. "

no he's not.

And so as the loose-bowelled pigeon of time swoops low over the unsuspecting tourist of destiny, and the flatulent skunk of fate wanders into the air-conditioning system of eternity, I notice it's the end of the show

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Budget on 12:43 - Nov 23 with 587 viewsRob88

Budget on 09:19 - Nov 23 by StokieBlue

Interesting stuff from McDonnell:

http://www.huffingtonpost.co.uk/entry/john-mcdonnell-budget-response_uk_5a15a849

Apparently he went further and said he didn't need to know figures as ministers have iPads.

SB


I heard him saying that on Radio 4 this morning, I found it a bit odd given he is the shadow Chancellor.......
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Budget on 12:58 - Nov 23 with 569 viewsGlasgowBlue

Budget on 12:43 - Nov 23 by Rob88

I heard him saying that on Radio 4 this morning, I found it a bit odd given he is the shadow Chancellor.......


I think his approach appeals to the naive and simple folk who prefer hope and empty rhetoric over hard cold reality.

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Budget on 13:00 - Nov 23 with 561 viewsLibero

Budget on 12:58 - Nov 23 by GlasgowBlue

I think his approach appeals to the naive and simple folk who prefer hope and empty rhetoric over hard cold reality.


GlasgowBlue in condesending bellend shocker.
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Budget on 13:12 - Nov 23 with 543 viewsDanTheMan

http://www.bbc.co.uk/news/business-42096806

Yay!

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Budget on 16:28 - Nov 23 with 447 viewsSwansea_Blue

Budget on 13:12 - Nov 23 by DanTheMan

http://www.bbc.co.uk/news/business-42096806

Yay!


Heading towards longest fall in living standards on record and productivity levels worse since 1812, when Napoleon invaded Russia.

https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2017-11-23/u-k-

Huzzah!

Making Britain great again.

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Budget on 16:48 - Nov 23 with 434 viewsblue_oyster

Budget on 13:12 - Nov 23 by DanTheMan

http://www.bbc.co.uk/news/business-42096806

Yay!


The not-left-leaning-at-all BBC innocently asks: 'What is the point of capitalism?'

Conventional wisdom is the enemy of thought.
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Budget on 18:39 - Nov 23 with 396 viewsSwansea_Blue

Away from the cheap, headline-based point scoring, I find the issue around this apparent paradox of poor economic performance and relatively high employment quite interesting. I don't pretend to understand the half of it, but poor stimulus (i.e. austerity measures), and especially poor capital spending, seem to be close to the heart of it.

I know relatively little about this, so wouldn't know if these are essential reading. Interesting nonetheless.

http://voxeu.org/article/uk-productivity-and-job-puzzle
https://www.google.com/url?

https://www.niesr.ac.uk/blog/uk-productivity-growth-careful-what-you-wish

https://www.ifs.org.uk/wps/wp201311.pdf&ved=0ahUKEwiD8ML1ltXXAhWhY98KHe8IBLEQFgh

http://www.bbc.com/news/business-41301659

http://www.independent.co.uk/news/business/comment/iain-duncan-smiths-centre-for

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Budget on 22:15 - Nov 23 with 357 viewsdickie

Budget on 17:22 - Nov 22 by gosblue

My son and his wife and our first grandchild (due in February) are in the middle of buying their first house with a little help from us. Hammond has just given them a £1,600 early Xmas present. Thank you very much sir. I applauded the television.


I'm not certain whether it's changed but some mortgage lenders paid the stamp duty for first time buyers when we bought our first place. Halifax certainly did for us
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Budget on 08:31 - Nov 24 with 309 viewsblue_oyster

Budget on 16:48 - Nov 23 by blue_oyster

The not-left-leaning-at-all BBC innocently asks: 'What is the point of capitalism?'


And then, first question on last night's Question Time, again: 'What is the point of capitalism?'. You have to laugh.

Conventional wisdom is the enemy of thought.
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Budget on 10:23 - Nov 24 with 276 viewsNo9

Budget on 08:31 - Nov 24 by blue_oyster

And then, first question on last night's Question Time, again: 'What is the point of capitalism?'. You have to laugh.


Once again you are out of touch this question has been around for many months now it isn't new and probably ins't pushed by the BBC political / currentaffairs or news department.
Looks more like a tory HQ questions to test the voters as many 'economists' are admitting capitalism in its form since the UK governement followed Hayek & the Chicago SoE has badly failed.
The 'Essex' way is important to the tories - isn't it?
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Budget on 10:30 - Nov 24 with 263 viewsNo9

Budget on 18:39 - Nov 23 by Swansea_Blue

Away from the cheap, headline-based point scoring, I find the issue around this apparent paradox of poor economic performance and relatively high employment quite interesting. I don't pretend to understand the half of it, but poor stimulus (i.e. austerity measures), and especially poor capital spending, seem to be close to the heart of it.

I know relatively little about this, so wouldn't know if these are essential reading. Interesting nonetheless.

http://voxeu.org/article/uk-productivity-and-job-puzzle
https://www.google.com/url?

https://www.niesr.ac.uk/blog/uk-productivity-growth-careful-what-you-wish

https://www.ifs.org.uk/wps/wp201311.pdf&ved=0ahUKEwiD8ML1ltXXAhWhY98KHe8IBLEQFgh

http://www.bbc.com/news/business-41301659

http://www.independent.co.uk/news/business/comment/iain-duncan-smiths-centre-for


Working with non UK companies the shortcoming in the UK productivity soon become apparent but not in any single area but across the board.
Some of it is down to the UK worker not have=ing modern efficient tools and transport.
Some is down to the high numbers of S.E. who work very much shorter hours (often to ensure they are beleow the VAT threashold) many other workers registered as employed but completely inactive for -hours/days/weeks/
There is also the non producer to produce ration which is much worse in the UK that in any typical EU company
There is also a tendency for Uk companies to 'under' bid jobs either to get the work or because they don't understand the workshop -the shorfall then has to be made up which adds a lot to the UK workforce inefficiency -
that is the tip of the iceberg tho"
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Budget on 10:31 - Nov 24 with 263 viewsblue_oyster

Budget on 10:23 - Nov 24 by No9

Once again you are out of touch this question has been around for many months now it isn't new and probably ins't pushed by the BBC political / currentaffairs or news department.
Looks more like a tory HQ questions to test the voters as many 'economists' are admitting capitalism in its form since the UK governement followed Hayek & the Chicago SoE has badly failed.
The 'Essex' way is important to the tories - isn't it?


I didn't say it *was* new, sweetheart. I was pointing out that it appeared yesterday on the BBC website, then *again* on Question Time in the same day, where questions are allegedly from the studio audience.

Conventional wisdom is the enemy of thought.
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Budget on 10:37 - Nov 24 with 258 viewsNo9

Budget on 10:31 - Nov 24 by blue_oyster

I didn't say it *was* new, sweetheart. I was pointing out that it appeared yesterday on the BBC website, then *again* on Question Time in the same day, where questions are allegedly from the studio audience.


& you still haven't worked out wht QT is for? Wakey wakey Luvvie
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Budget on 10:41 - Nov 24 with 253 viewsblue_oyster

Budget on 10:37 - Nov 24 by No9

& you still haven't worked out wht QT is for? Wakey wakey Luvvie


Wake up about what?

Conventional wisdom is the enemy of thought.
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Budget on 10:51 - Nov 24 with 243 viewsNo9

Budget on 10:41 - Nov 24 by blue_oyster

Wake up about what?


Thanks, that response was all one needs to know.
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Budget on 10:54 - Nov 24 with 238 viewsblue_oyster

Budget on 10:51 - Nov 24 by No9

Thanks, that response was all one needs to know.


Ah, another of your posts disappears into smoke and mirrors, when you lose an argument. Ever thought of winning one to avoid this?

Conventional wisdom is the enemy of thought.
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Budget on 10:57 - Nov 24 with 232 viewsNo9

Budget on 10:54 - Nov 24 by blue_oyster

Ah, another of your posts disappears into smoke and mirrors, when you lose an argument. Ever thought of winning one to avoid this?


Not really but I have thought the point of discussing if black really is white, on your terms a bit of a waste.
You read too much daily mail / sun and don't get out enough.
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