What can the PRS expect from Boris?

by Property 118

18:46 PM, 23rd July 2019
About 4 weeks ago

What can the PRS expect from Boris?

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What can the PRS expect from Boris?

Boris Johnson has been announced as our next Prime Minister at the Queen Elizabeth II Centre in London, where he won 92,153 votes from members of the Conservative Party.

The question is what can the PRS expect from the new PM and will there be any spare capacity or time to effect any changes with a promise to leave the EU by Halloween? What do we know so far?

Boris has indicated his interest in switching Stamp Duty liability from the house buyer to the seller.

He is known to be keen to expand home ownership and seems to be willing to loosen fiscal responsibility so will he look to build more homes and extend Right to Buy?

We do know for sure that he is against rent controls.

John Stewart, RLA policy manager said: “As Mayor of London Boris Johnson spoke of not over-regulating the rental market, and for the need to boost the supply of homes to rent. As Prime Minister, it is vital that his government makes good on this sentiment, ensuring policy boosts the supply of homes to rent, supports the vast majority of landlords doing a good job whilst focusing resources on finding and rooting out the crooks.”

What are readers views for the outlook of the PRS under a Boris Johnson Premiership?



Comments

Dr Rosalind Beck

9:20 AM, 24th July 2019
About 4 weeks ago

Well I read that he is interested in the ideas in a report by the underwhelming (as I remember) Chris Philp and Will Tanner among others. I think it's that Onward group again - who previously had some brainwaves about extending Section 24 so that we didn't even get the 20% 'rebate' and also not allowing us to offset costs of furnishings. They presented the usual nonsensical arguments about landlords benefiting from an uneven playing field, contrary to all reason and logic.

The point relevant to us in the report currently piquing Johnson's interest though is the suggestion to up the additional 3% tax levy on second and BTL properties to 5%. So a further disincentive to any investment in the PRS. The geniuses do a simple sum and work out that they will gain x more millions from this, as though people blithely continue with all their investment plans regardless of the costs. It won't be any skin off my nose as I have no intention to buy (although it could make selling more difficult - also got no intention to sell), but it is clearly a very stupid move unless they want the rental market to contract - at a time when there is constant and growing demand.

Whiteskifreak Surrey

12:27 PM, 24th July 2019
About 4 weeks ago

Reply to the comment left by Dr Rosalind Beck at 24/07/2019 - 09:20
Well... congratulations to those who believed BoJo will be on our side...

Anthony Endsor

12:46 PM, 24th July 2019
About 4 weeks ago

Reply to the comment left by Whiteskifreak Surrey at 24/07/2019 - 12:27
Of course Jeremy Hunt would have been I suppose.

Whiteskifreak Surrey

13:06 PM, 24th July 2019
About 4 weeks ago

Reply to the comment left by Anthony Endsor at 24/07/2019 - 12:46
Absolutely not, I suppose.
BTW JH actually is a landlord, bought - as an LTD company - 7 flats in Portsmouth, I think last year.

David Price

13:52 PM, 24th July 2019
About 4 weeks ago

Let us address him as Rt Hon Boris Johnson, he is a politician not a friend.

AS to what we can expect, I anticipate that he will be too busy with Brexit to bother about the PRS. In the short term he will do little if anything, in the long term he will probably not be Prime Minister.

Dylan Morris

16:47 PM, 24th July 2019
About 4 weeks ago

He has said he will increase the 40% tax threshold to £80,000 which will go some way to helping higher earning landlords suffering from the Clause 24 mortgage interest problem.

Roger P

17:59 PM, 24th July 2019
About 4 weeks ago

Brokenshire's gone but who will replace him?

Arnie Newington

12:19 PM, 27th July 2019
About 4 weeks ago

I think Sajid Javid as Chancellor might be more sympathetic to the unfairness of Section 24 than Philip Hammond.

WP

13:16 PM, 30th July 2019
About 3 weeks ago

Reply to the comment left by David Price at 24/07/2019 - 13:52
agree - he will do nothing. Not politically 'interesting' enough to warrant spending any time on this. Anyway he wont be in for long...


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