Budget 2015 - A budget of no consequence.

JasonLVC

Jason74 wrote: »

I don't see it as any part of any solution to anything. It's part of the PROBLEM that the government seems to see peoples ability to meet house prices as the problem, rather than the house prices themselves, and then spends public money on this basis

Housing is only going to go up in price.

Reality is, people don't buy houses to live in them! They buy them as a longterm investment. Take my parents, bought their house deacdes ago. They will die or need to go into care home at some point.

If carehome, they'll sell their house for as much as possible to afford the longterm care fees. If they die, I will get their house. I already have houses to live in so I will either sell it or rent it - but either way its an investment. If I sell it, I'll aim for as much as I can get even though it cost me nothing, if renting I'l rent at the given market rate.

If you see home ownership as bluntly as that, then it explains why house prices just keep going up. Everyone wanting more - the developer,m the buyer, the seller, the next seller, etc.

Councils requiring developers to build roads and schools as part of planning consents, scarcity of decent development land and of course, demand in the right places also play a big part in the overall cost of housing.

Now, if government were to set a minimum and maximum price range for housing, then such interventionist policies can only fail and distort the market place. For example, everyone who already has a house will not be happy to find the value of proerpty halved but still have massive mortgages to pay off.

molerat

JasonLVC wrote: »

Class II contribution for self employed to be abolished.

Going to upset a few self employed sages, no more £3.76 (or £4.25 !) a week pension for life for a one off £2.75 payment.

purch

chewmylegoff wrote: »

The budget was dull.

I told you how to make it "fun" again

padington

JasonLVC wrote: »

New ISA's.

Normally, tax free entitlement lost if you take cash out of an ISA and so a new flexible ISA allows people to put in and take it out withoutlosing their tax/interest benTfits. From October.


Also, a Help To Buy ISA.

For every £200 saved, government will top up with £50 more. So if you put in £12,000, government will put in £3000


That's quite a big thing!!

https://www.gov.uk/government/publications/help-to-buy-isa-factsheet

ChopperST

The help to buy ISA really has cheered up the HPC brigade

http://www.housepricecrash.co.uk/forum/index.php?/topic/203782-help-to-buy-isa/

fc123

.....so the 1 million pound main home becoming free of IHT didn't go through? I didn't hear it and seems it got ditched.






http://www.theguardian.com/money/2015/mar/16/tories-1m-inheritance-tax-giveaway-sensitive-papers-wealthier-households#comments

fc123

ChopperST wrote: »

The help to buy ISA really has cheered up the HPC brigade

http://www.housepricecrash.co.uk/forum/index.php?/topic/203782-help-to-buy-isa/

Why?


To be fair they are more of a social gang or cult than a factual debate board.

fc123

Originally Posted by ChopperST
The help to buy ISA really has cheered up the HPC brigade

http://www.housepricecrash.co.uk/for...lp-to-buy-isa/

fc123 wrote: »

Why?


To be fair they are more of a social gang or cult than a factual debate board.

...ah, I just looked...not happy rather than happy.

ChopperST

Sorry irony lost in an anonymous internet post! Little bit of sympathy with them on this one, not really solving the route cause of the problem of chronic under-supply.

Jennifer_Jane

JasonLVC wrote: »

Another raise in VAT if Tories get back into power

No mention of that in Osbourne's speech, so Milliband really just making stuff up now.


Milliband is right to ask why no mention of the NHS in the speech.

Quite - in Balls' discussion with the BBC afterwards, he said that the Conservatives were "bound" to raise VAT. They just lie, talk over everyone, talk louder than anyone else. I actually hate them!


This will be the mantra "They are bound to do something...". And if they say it enough times, people will believe that it will happen.