Iain Duncan Smith Has Spoken Out For Landlords

Iain Duncan Smith Has Spoken Out For Landlords

22:06 PM, 21st June 2017, About 4 years ago 163

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On Sunday 18th June 2017, Iain Duncan Smith was quoted by the Sunday Telegraph as saying ….

“Finally, it is time to look again at the way we treat private landlords who buy houses to rent. George Osborne’s decisions to impose a stamp duty levy on the purchase of homes to rent, to restrict mortgage interest relief to the basic rate of income tax and to tax a landlord’s turnover rather than profits have led to landlords scaling back or even leaving the sector altogether.
They are a significant provider of the additional housing we need. We should be encouraging them with devices such as VAT relief on conversions or even capital allowances, not punishing them. It’s no wonder buy-to-let purchases have fallen dramatically. If the purpose was to stop foreign owners buying up property and leaving it empty

…………………………………………………. We are in danger of throwing the baby out with the bath water.”



Comments

by Dr Rosalind Beck

7:45 AM, 30th June 2017, About 4 years ago

Reply to the comment left by "Gary Dully" at "30/06/2017 - 02:06":

What about Oxford University? They made Danny Dorling a professor - and not even an honorary one - and the guy is incapable of logical thought. If he ever moved from the academic arena to the political one, God help us all. He believes landlords' properties should be seized and given to their tenants.

by Selina

8:31 AM, 30th June 2017, About 4 years ago

Reply to the comment left by "Gary Dully" at "30/06/2017 - 02:06":

Well said! Couldn't have put it better!

Thank goodness he isn't being paid, though I very much doubt he needs the money!

by Whiteskifreak Surrey

9:03 AM, 30th June 2017, About 4 years ago

Reply to the comment left by "Selina Morton" at "30/06/2017 - 08:31":

I am seriously concerned about the Blackrock's performance. Gideon is a Senior Adviser, and I wonder how he can advise anyone about anything but a wallpaper, or scolding our current PM as the editor of London Evening Standard?
And even if he can, when will he find time? For once - working in a Fund Management is not a 3 hours per day job, more like 12 hours.
GO has 4 full time jobs - that is roughly 3 hours a day per job, if one is working 12 rather than 8 hours per day. Nothing can be done properly in that time
I wonder who is behind his so called career.

Our Universities are loosing a grip on who they employ to teach younger generation. I would be funny if it was not so sad and disgusting.

by Whiteskifreak Surrey

12:50 PM, 30th June 2017, About 4 years ago

Reply to the comment left by "Whiteskifreak Surrey" at "30/06/2017 - 09:03":

The Gideon saga continues in today's City am:

"Writing to the Evening Standard editor/Blackrock advisor/honorary professor/chair of the Northern Powerhouse Partnership, the committee pointed out that Osborne had visited the university several times when he was chancellor.
In addition, he gave the university £50m in 2011, which was largely used to set up a graphene research institute. Osbrone attended the opening of the institute in 2015.
So was the £50m a massive bribe for a professorship?
The committee concluded: probably not."

Just NO COMMENTS!

If anyone is interested in the whole article, there is a link:
http://www.cityam.com/267624/committee-scrutinises-george-osbornes-50m-package

Enjoy Friday and the rest of the weekend knowing that Gideon has been properly scrutinised and fully approved!
No worries, folks.

by NW Landlord

13:02 PM, 30th June 2017, About 4 years ago

Weasel

by David Price

13:54 PM, 30th June 2017, About 4 years ago

Osborne has been given an honorary chair, let us hope that it does not collapse underneath him.

by Gary Dully

20:16 PM, 30th June 2017, About 4 years ago

Reply to the comment left by "David Price" at "30/06/2017 - 13:54":

Put a honorary drawing pin on it, as well, just like they do in the Beano!

by Monty Bodkin

10:06 AM, 3rd July 2017, About 4 years ago

Another heavyweight stating the bleedin' obvious.

http://www.telegraph.co.uk/business/2017/07/02/attacks-landlords-end-hurting-tenants-says-ex-bank-england-policymaker/

Tax rises targeting landlords in an effort to help first time buyers are “profoundly wrongheaded” and in fact push up costs for tenants, David Miles has warned.
Worries over the cost of housing have encouraged politicians to look for ways to show they are on the side of would-be homebuyers, but the former Bank of England policymaker said that the policies will backfire.

by Pamela Potter

14:04 PM, 4th July 2017, About 4 years ago

OK, so I sent letters and emails to Iain Duncan Smith, Theresa May, Alok Sharma and my own MP Caroline Dinenage (Fred's daughter no less) and received this response:

"Dear Pam,

Thank you for copying me into your email to Mr Iain Duncan-Smith.

As previously stated, if you could provide a detailed breakdown of how section 24 is going to affect your business I would be very happy to request that the Financial Secretary to the Treasury respond to the issues raised.

If you are happy for me to use the details below then please let me know and I will get a letter sent off.

Kind regards
Caroline"

My reaction is 'that's actually a hell of a lot of work she's asked me to produce there' - she's basically asking for the a breakdown of what is going to happen to my business over the next four years and I'm thinking 'that's about three days work!' or am I missing the point of what she's asking for? Any thoughts, advice anyone?

On a positive note though, it's definitely a slight shift away from the standard '1 in 5' quote we were all getting last year.

Still living in hope. Any guidance on the appropriate response?

Pam

by Gary Dully

15:54 PM, 4th July 2017, About 4 years ago

Reply to the comment left by "Pamela Potter" at "04/07/2017 - 14:04":

Send her a spreadsheet or Try this http://scruffypropertywanted.com/hp/s24/

And print it out


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