Thursday, 17 November 2011

We own land! Give us money!

From The Daily Telegraph:

First-time buyers to get cheaper mortgages, George Osborne to say in autumn statement

My latest blogpost: We own land! Give us money!Tweet this! Posted by Mark Wadsworth at 10:14

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7 comments:

Jer said...

Isn't that "We don't yet own land, give us money"?

17 November 2011 at 13:47
formertory said...

My TV almost didn't survive the TV news last night when I heard this lot. What with Vince the Useless wanting to bung employers money to take on apprentices (so long as said employers teach the kids to read, write, add up, and maybe some manners too) and George the Also Pretty Useless wanting to bung money to promote the sort of lending that just two or three short years ago was "irresponsible" and the indisputable cause of the collapse the entire known world.....

.....and then to cap it all telegraphing the proto-nationalisation of UK pensions to fund infrastructure projects.........

I think "incandescent" probably sums up the degree of anger. Or this.

(wv: oplentio, as in "plentio more where all that came from"?)

17 November 2011 at 13:51
Mark Wadsworth said...

J, actually it's "We own land! Give our customers money!" but it all comes to the same thing.

FT, the £1,500 for apprentices stinks. Why not just hike the annual tax/NIC thresholds by £2,000(which would save approx. £1,500 over two years) and have done with it?

17 November 2011 at 14:04
Jer said...

Mark, I'll grant it's certainly a case of "Please subsidise our customers because that will improve our volumes and margins"

It seems I am alone in thinking that GO is doing a fair enough job, not great, but not too bad. His boss on the other hand is a shambles.

17 November 2011 at 16:10
Mark Wadsworth said...

J: "It seems I am alone in thinking that GO is doing a fair enough job"

Yes, it does seem that way. The fact that the opposition might be worse is a separate topic.

17 November 2011 at 16:33
Bayard said...

FT, yes, well we all know the government will do anything to prop up the housing bubble because we know and they know that if it bursts on their watch, which it will do, they will be out on their collective ear.
I agree with Mark. My first thought when someone on the radio was asking what the gov't could do to promote yoof employment was to scrap the labour tax (employers NI) for 18 to 24 year olds, but has anyone suggested this?

17 November 2011 at 18:19
Anonymous said...

http://www.guardian.co.uk/society/2011/nov/18/housing-plans-new-homes

The prime minister is also expected to back plans, supported by the Confederation of British Industry, for a government-backed mortgage indemnity scheme for first-time buyers.

Ministers regard a fillip to housebuilding as one of the best ways of securing growth.

Under the mortgage indemnity scheme the government would cover the risk for the lender, which should enable first-time buyers to take out larger mortgages relative to the value of the home.

The plans also propose that borrowers should be able to use money in their pension pots to boost deposits.

18 November 2011 at 20:43

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