Summer Budget 2015 – Landlords Reactions

He may not have had time to scrutinise all the policies yet with all this brexit stuff

Photo of Craig MackinlayCraig Mackinlay Conservative, South Thanet
I congratulate my right hon. Friends and indeed the entire new Treasury team.

With some softening of the market in house sales, will my right hon. Friend commit to looking at the data and consider whether the 3% additional stamp duty on second property purchases is necessary, desirable or indeed raises any additional revenue at all?
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Photo of Philip HammondPhilip Hammond The Chancellor of the Exchequer
I can certainly commit to looking at the data, and I can tell my hon. Friend that my approach to taxation is that it is there for a simple purpose: to raise revenue for the Exchequer. I expect the taxes we put in place to achieve that.
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Above is copy and paste from treasury forum what the media has omitted as follows:

“I can certainly commit to looking at the data.”

https://www.theyworkforyou.com/debates/?id=2016-07-19a.678.3&s=speaker%3A25437#g681.7

Seems to me Hammond is being reasonable. I read the full text to say if a tax doesn’t do what it is supposed to do, he would be smart enough to remove it.

I have absolutely no doubt on the face of that, Tenant Tax will not raise enough to pay for its own collection let alone create any revenue for the treasury.

Let’s see shall we????

Expect more anti land order rhetoric and pro home ownership legislation. Papers in london full of article today aboutique how home ownership is beyond the means of most people not only in london but across major cities. Talk of ‘rise in renting ‘ is problem for state.

Reply to the comment left by “Jim Taliadoros” at “02/08/2016 – 08:31“:

Indeed I have seen that and have the same worries seeing Metro and other papers today.
It does not cross their mind that some people actually do not want to be saddled with a huge debt and prefer mobility and flexibility. Of course if everyone in society is in debt – that society is a lot easier to be managed and controlled. That is why the Gov prefers the ownership over renting.
I am afraid if we do not act together – the small mortgaged landlords are going to be in even deeper sugar we are now. Is it really the time to start selling?

Just on sky news that the housing crisis is top of the agenda for the new cabinet and they think there is going to be a shift away from George osbournes approach. Leading experts are saying there isn’t enough rental housing to meet demand in a lot if areas and that deposits for mortgages is the biggest barrier to home ownership so how that fool thought choking the supply of rental homes is going to help is beyond me incompetent doesn’t cover it

I’ve just had a freebie ‘property news’ through my door…..I hope whoever wrote it doesn’t mind it being copied here…..
” When it came to affordability, I was able to tell them that when they bought their first house in Maidenhead in 1988, the ratio of house prices to salary was 7.54 to 1 in Maidenhead…..and here is the surprise for both of us, today’s ratio is only 6.53 to 1!”

“In the 60s 70s and 80s, saving for the deposit was everything. Youngsters today have far much more disposable income than people had in the Callaghan and Thatcher years, but choose to spend it upgrading their mobile phones every 12 months, the newest tablet or PC and 2 sun drenched holidays a year, than go without and save for a deposit.”

Reply to the comment left by “Whiteskifreak Surrey” at “02/08/2016 – 10:41“:

It was nice to see on the Sky Press Preview last night that the two journalists reacted very sensibly to the headlines about owner-occupation. Elizabeth Day said that she loved renting as she didn’t have to worry if the boiler broke and Andrew Pierce (with whom I am on very good terms and in regular communication) said nothing anti-landlord either – just at the point when the usual thickos churn out the stereotypical nonsense in response to sensational and often misleading headlines.