Thursday, 9 July 2015

Mildly reassuring.

Lola spotted the article in the Torygraph bemoaning and bewailing the fate of the poor hard-pressed buy-to-let landlords, some of whom might face ever so slightly higher income tax bills in future.

The first few comments are pure Home-Owner-Ist drivel, but the bulk of the rest of the comments are pretty rapaciously anti-BTL.

For example:


Good. Happiness, for us owner-occupiers, will be seeing the BTLers sell up and for us to gain neighbours who own their properties, care for them and connect to the local community. I hope this measure will lead to many more fellow citizens becoming owners-occupiers for the first time.


BTL is strangling the UK housing market - BTL parasites need to be taxed until their pips squeak as makes it easier for push-push Cuckoo immigrants to enter the UK job and housing markets both as Landlord and tenants and to be subsidised as Landlords on tax relief on mortgage interest tax relief.

BTL prevents young British families from getting on the housing ladder and causes UK rents and house prices to rise to unsustainable purchase prices for owner occupiers.

UK housing is now a special commodity and needs to managed as such... there is no housing shortage if the BTL parasite is fully taxed out of the market.

The Chancellors budget is welcome in reducing the size of the nanny interfering state that subsidises mass immigration to England but it has substantially failed to redress the UK obsession with subsidising the BTL parasites and as permanently damages the prospects for most British families in terms of them ever getting on the housing ladder and as damages investment in the real productive, industrial economy.

The main thing missing from the Chancellor's budget was a mechanism to allow private pensioners to invest in the real industrial economy and get a realistic rate of return.

BTL is killing the UK and is doing great damage.


Shiney said...

Yes, but....

Gideon is introducing this over a number of years. The 'proper' investors in the productive economy are going to be stuffed by the phasing out of dividend tax credit...NEXT YEAR.


Mark Wadsworth said...

S, that's news to me. Can you send me a link?

Mark Wadsworth said...

Oh Jesus Christ. This is worse than I ever feared.

Shiney said...


Exactly - party of enterprise my arse. The Tories haven't a clue. They are raping the productive part of the economy to keep the house (land) price bubble going as long as they can.

And have you heard anything (AT ALL?) in the media? No. 'Cos they are all BTL investors I bet.

Shiney said...

Oh and the much trailed corp tax cut, which would, to some extent, mitigate the increase comes in a year later.

Mark Wadsworth said...

S, the flat 20 pc corp tax was a good target.

They've achieved that, tick the box, move on and start cutting VAT or NIC or something. The marginal benefit of 18 pc instead of 20 pc is neither here nor there.

Makes you weep.

Random said...

"The Tories haven't a clue"
Of course they do. They're not stupid. It's just them and their mates' priorities are different from ours.

Lola said...

R Quite.
MW et al. I have been asked several times what I thought of the budget. Answer. A crock of shit. It will unravel.
You wait, GO will start bringing in all sorts of subsidies and reliefs, probably based on geography to 'buy' votes.
You have to remember the GO's primary focus is 'politics'. He is economically witless. 90% of what he was doing was 'triangulation'. Death's too good for the twat.

Rich Tee said...

The Living Wage will also allow landlords to raise rents to soak up the extra earnings. Overall net change: zero.

Lola said...

RT. That as well.

Mike said...

Mark, I think you may be onto something with your "Indian Bicycle Marketing" idea.

Doesn't George Osborne's budget essentially deliver Labour's pre-election manifesto?

When you look at it, apart from the inheritance tax thing, there's really nothing that you couldn't imagine being in Ed Balls' first budget. Higher minimum wage, lots of stealth taxes, austerity cuts delivered at a slightly slower pace.

How do they get away with it?

Mark Wadsworth said...

M. Well spotted and exactly!

Bayard said...

"The Living Wage will also allow landlords to raise rents to soak up the extra earnings."

Er, wasn't that the main reason for doing it?