The Big Finance, Money and Economics thread

[Strummer]

That’ll happen!!

It happens in many areas of certain countries I could mention.

There is absolutely no reason why a similar system, and enhanced tenant protections, could not be implemented in U.K. law.

That might have the added benefit of actually encouraging more people to rent, because not only are rents reduced, but tenancies are much more secure, which then has the knock-on effect of freeing up housing (not so many buyers) and reducing house prices (again, because, not so many buyers).

And if it puts an end to the activities of predatory buy-to-let landlords, then that’s an added bonus.

[Advert Break]

[Captain Sinister]

There is an incredible shortage of homes particularly for the epsilon class.
At the same time there are thousands of empty properties, with absentee owners, foreign nationals laundering there ill-gotten gains by buying up property in the UK and the lack of any meaningful regulation of planning applications in the UK.
The latter is a massive problem.
The planning system is made for the developers to exploit the human weaknesses of those with power to grant approval.
Furthermore, developers make substantially higher profits from the building out of greenfield sites in rural and semi-rural locations.
So they fail to bring forward redevelopment of brownfield sites and homes get built, not where people want them to be built.
As for Government regulation as to what constitutes a big enough space... it is pitiful.
And rogue landlords who leave properties that they rent out at top whack to fall into severe disrepair are also benficiaries of policies weighted drastically in their favour.
The Aplha class that runs the country for their own benefit will never have the balls to act.
It's a shit society that has flourished.
The rich get richer and bugger the poor.

[GOBIAS]

It happens in many areas of certain countries I could mention.

There is absolutely no reason why a similar system, and enhanced tenant protections, could not be implemented in U.K. law.

That might have the added benefit of actually encouraging more people to rent, because not only are rents reduced, but tenancies are much more secure, which then has the knock-on effect of freeing up housing (not so many buyers) and reducing house prices (again, because, not so many buyers).

And if it puts an end to the activities of predatory buy-to-let landlords, then that’s an added bonus.

I’m not disagreeing with it. It just won’t happen!!

[MaxiRobriguez]

GBP hits 1.40 against the US Dollar, strongest rate since April 2018. Couple more pence rise and it'll be strongest rate since 22nd June 2016 when there was a big fall for some unknown reason.

Disclaimer: Mostly dollar weakness than pound strength.

[Hughton,we have a problem]

GBP hits 1.40 against the US Dollar, strongest rate since April 2018. Couple more pence rise and it'll be strongest rate since 22nd June 2016 when there was a big fall for some unknown reason.

Disclaimer: Mostly dollar weakness than pound strength.

Hit 1.1561 v € , so that’s put a spring in my step

Just about pays for all the import costs from the EU.
Pallets arrived, three weeks to get through customs, already lost thousands in cancelled orders, but they got here eventually.

Can’t wait for my cut in corporate tax and VAT as promised upon leaving the EU.


Sent from my iPhone using Tapatalk

[MaxiRobriguez]

Hit 1.1561 v € , so that’s put a spring in my step

Just about pays for all the import costs from the EU.
Pallets arrived, three weeks to get through customs, already lost thousands in cancelled orders, but they got here eventually.

Can’t wait for my cut in corporate tax and VAT as promised upon leaving the EU.


Sent from my iPhone using Tapatalk

Don't forget £350m for the NHS.

[MaxiRobriguez]

Poor jokes aside, it'll be interesting to see if your deliveries get easier/slicker over time. Obviously not going to be as easy as they were before we formally left, but be good to hear how it goes for you as I get the impression not many people on the forum are on the sharp end of importing and exporting.

[Strummer]

Can’t wait for my cut in corporate tax and VAT as promised upon leaving the EU.

Yeah, maybe don’t hold your breath on that one, eh?

[MaxiRobriguez]

Bump. It's budget time.

[MaxiRobriguez]

Well, the concept that Labour are reckless spenders has been blown out of the water with that speecch by Rishi. He's not just found one magic money tree, he's found a forest, and he's not shaken them, he's chopped them all down.

[Hughton,we have a problem]

Corp'tax will be a kick in the bollacks for me. All to pay your fucking furlouogh while you sat at home and watched Dave all day long.

[Alvar Hanso]

Leaving income tax thresholds unchanged until 2026 is a sneaky way of raising tax whilst not looking like you’re raising tax.

Personally I think it’s worth it to fund our world beating test and trace system.

[MaxiRobriguez]

Round up with my neutral hat on:

Government Giveaways
- Businesses hiring new apprentices can get £3k, double amount previously.
- Business rates holiday extended to June, tapers thereafter.
- Interim VAT rate 12.5% from October.
- Stamp duty freeze extended, £500k through to June, £250k through to October.
- 95% mortgages by government.
- Businesses will be given ability to carry losses across tax years.
- "Super deduction" which will allow companies to reduce their tax obligation by 130% of investments they make.
- UK infrastructure bank, which will lend to green projects. £12bn capital upfront.
- 50% discount on productivity software for small business.

Neutral
- Living wage will go up (but no further strengthening of when it applies)
- Small businesses protected from upcoming tax rises.
- No fuel duty increase
- Pension funds given flexibility to allocate capital to "high growth" investments.
- 8 new freeports, one in East Midlands Airport.

Government Takeaways
- Corporation tax (for businesses earning >£250k) set to rise to 25% in 2023.
- Fiscal drag applied to personal tax threshold - allowance won't rise until 2026 regardless of inflation.

[MaxiRobriguez]

Neutral hat off:

It looks almost like a budget Corbyn would have come up with. That's a significant amount of spending with very little means of raising new money immediately, it's all based on assumption the spending will generate growth to pay it off in the future.

Quoting Rishi:

"debt falls even though borrowing continues because of inflation"

"Use lower interest rates to invest in capital projects"

This budget basically proves austerity was never required and was a political choice.

[MaxiRobriguez]

Nothing for the NHS in that budget at all either. Absolutely zero additional support in tackling the backlog of patient cases built up due to Covid.

[Hughton,we have a problem]

EMA a freeport, "simpler planning", enjoy your nuclear powered factories Nottingham.

[DanR]

Neutral hat off:

It looks almost like a budget Corbyn would have come up with. That's a significant amount of spending with very little means of raising new money immediately, it's all based on assumption the spending will generate growth to pay it off in the future.

Quoting Rishi:

"debt falls even though borrowing continues because of inflation"

"Use lower interest rates to invest in capital projects"

This budget basically proves austerity was never required and was a political choice.

The long-term consequences of austerity are yet to be seen but they will surface and their fix will be much more expensive than the saving (!) made through austerity. A programme of sensible investment in capital projects would have been the better choice in 2010, to take advantage of the low interest rates. Who knows, they might even have paid for improvements to infrastructure, training and education which a country determined to impose isolation on itself would require.

[Harvey]

Rishi Sunak is an anagram of Raisin Husk

Just thought I'd give you my two penneth

[Hughton,we have a problem]

The long-term consequences of austerity are yet to be seen but they will surface and their fix will be much more expensive than the saving (!) made through austerity. A programme of sensible investment in capital projects would have been the better choice in 2010, to take advantage of the low interest rates. Who knows, they might even have paid for improvements to infrastructure, training and education which a country determined to impose isolation on itself would require.

And if you hadn't had Cameron telling everyone that it was necessary because you scrounging poor people had taken too much money in benefits and the national debt had to be paid down we may not have had the B word.

[DanR]

And if you hadn't had Cameron telling everyone that it was necessary because you scrounging poor people had taken too much money in benefits and the national debt had to be paid down we may not have had the B word.

Austerity goes hand in hand with the creation and scapegoating of 'the other' whether that is poor people falling out with each other or launching their vitriol at the EU.

[Strummer]

And all that money saved through austerity had to go to the Tories‘ mates via dubiously-awarded contracts during the pandemic.

[GOBIAS]

And if you hadn't had Cameron telling everyone that it was necessary because you scrounging poor people had taken too much money in benefits and the national debt had to be paid down we may not have had the B word.

Austerity goes hand in hand with the creation and scapegoating of 'the other' whether that is poor people falling out with each other or launching their vitriol at the EU.

Prior to blaming foreigners, it was benefit scroungers who got it. Even though that actual
Welfare figure for benefit fraud was paltry. Totally agree that austerity tipped the balance to the b word.

[MaxiRobriguez]

Is anyone on the forum involved with or knows much about the plans for the EMA freeport? Would be interesting to hear.

[Phooey]

Nice to see the resident Lefties acknowedging that a once-in-a-century pandemic proves that austerity doesn't work. I'm starting to wonder if the politics threads (which seem to be expanding exponentially) is actually a pardoy account that a few of us aren't in on.

Foolishly I was expecting a money thread to focus on how the Budget affects individuals and the businesses they work for or own. Either that or squirrel jokes anyway.

[Redemption]

Nice to see the resident Lefties acknowedging that a once-in-a-century pandemic proves that austerity doesn't work. I'm starting to wonder if the politics threads (which seem to be expanding exponentially) is actually a pardoy account that a few of us aren't in on.

Foolishly I was expecting a money thread to focus on how the Budget affects individuals and the businesses they work for or own. Either that or squirrel jokes anyway.

Why don't you give us some of your infinite wisdom? Surely that would be more cathartic than your empty snark?