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The Budget
November 22, 2017

Joined: May 12, 2014
Posts: 834
The Budget

November 22, 2017

The way I see it is this year's budget was a case of 'damned if you do, damned if you don't'. Against a backdrop of the  doom and gloom of the latest growth forecasts Hammond probably presented the least worst budget we could optimistically have hoped for. The facts are stark though, despite so many years of austerity we are still a long way from clearing the millstone of the massive debts which still stands at slightly more than 80% of GDP,  we also still have a long way to go to recover from the last Labour inspired financial slump. The abolition of stamp duty for first time buyers upto a ceiling of £300k is fine except of course I personally know no first time buyers who could anywhere near afford a mortgage of that magnitude. Given stamp duty currently starts at £125k I don't see the new rules helping that many people outside of the South East and the  Home Counties!! The tax break won't help alleviate the lack of affordable housing and the dearth of savings held by many if not most young families who aspire to own their own homes. The lack of any increased taxation on fuel is slightly unexpected but very welcome. Older diesel car drivers will be hit with higher VED costs from next April  and THAT was to be expected, there have been enough signs of older diesels being targeted for some time now.  This is a middle of the road budget, it is designed to placate Tory rebels and offer at least some hope that things can only get better! He COULD have taken the easy route and gained huge support from some quarters by splashing some cash. He didn't because he says there is no cash to splash. That maxim of course runs contrary to the speedy £1 billion found by the Government to buy the  support and allegiance of the DUP and the annual £12 billion overseas aid budget!!  BUT;  all in all as I said, in my opinion the least worst budget  he could have put before a Parliament. My footnote to it all must be the lack of any media alleged tension noticeable between him and TM over the final budget, today must have been a real anti climax for the doom mongers!!

November 22, 2017

Joined: May 8, 2014
Posts: 1311
The Budget

November 22, 2017

The thing I got today was the amount of negativity from all the TV pundits,this has been the course since Brexit. You wonder were these so called pundits get their negative reports from ,if you look at countries across the channel that would love to be in the United Kingdom's position,just ask Greece,Italy,Spain,Portugal or Ireland. Even the Germans are having a rough time and the French well they're the French enough said,the rest of the EU have all been beneficial of the United Kingdom's contributions to their countries throughout our time in the EU. We have all the exasperation of these so called various alphabetical named organisations who can't or haven't got it right since 2008/9  remember the remoaners prediction of disaster from Brexit run up ,ok the chancellor didn't set the world on fire but ,yes but we have 27 countries across the channel wanting billions and billions so we can leave their club and I think he's keeping his powder dry .We all know from our time on this earth that you can't make everyone happy , help for house buyers ,increase for low paid, car juice kept the same,fags and booze up ,basic rates of tax increased ,money for health and infrastructure,extra money to the Scots Welsh and Northern Ireland. More money for cities outside of London and help for the homeless fairly balanced in my eyes for a change .

November 23, 2017

Joined: May 5, 2014
Posts: 695
The Budget

November 23, 2017

More negativity today on the 'box - a female journalist from the Guardian (wonder which Party she supports ?) was running down Hammond's Budget, saying it's COUNCIL HOUSES we need, solely funded by the Government and NOT private enterprise, in order for the rents / sales of them to  go back into the Govt. coffers ( ie, Labour's). A "pie in the sky" notion, it would take billions of more debt to finance such a scheme, with little chance of ever recuperating the cost. I also do not believe there really is such a housing shortage, apart from London & the South East maybe - to plaster 300,000 homes yearly across our green & pleasant land will not only desecrate the countryside, but lead to ever more flooding as the concrete foundations of these estates fail to soak up the rainfall as the fields do now. I for one, & I'm certainly no snob, do not want massive council estates like those that sprung up everywhere in the post war era & 60's - they were badly designed, poorly built, and gave rise to the ghetto culture that caused so many  social problems, the effects of which are still felt today. When Maggie introduced the plan that allowed council tenants to buy their homes, you could tell almost immediately which one's had been bought - gardens were tidied, front doors / windows renewed, and people generally took far better care, and pride, in their homes. Not all council tenants were scruffy of course, I knew many that were really decent, home loving types, but they suffered from neighbours that didn't give a stuff, dragging the neighbourhood down to their level. With regards the accusation that removing Stamp Duty for 1st time buyers ( & I agree wholeheartedly David, re the amount of people who could benefit) will increase house prices, I reckon that's just a Lefty smokescreen to add more bile to their obvious jealousy of Hammond's Budget ! John (JKW)


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