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To help the economy, they cancelled a tax on house sales, which drives the cost of property up, so even fewer people can afford a home, and everybody has more mortgage debt or higher rent.
Why not keep Stamp Duty and built 250,000 social houses a year? This would:
Why not keep Stamp Duty and built 250,000 social houses a year? This would:
1. Drive down housing costs for everyone
2. Begin to solve our endemic housing crisis
3. Create jobs
4. Give the under-25 apprenticeship scheme a thing to do
2. Begin to solve our endemic housing crisis
3. Create jobs
4. Give the under-25 apprenticeship scheme a thing to do
And at the end of a decade we have a couple of million new homes, rather than the homes we have now, plus a couple of trillion extra mortgage debt.
The ONLY economic idea Tories had since 1979 is to promote a housing bubble, and hope they& #39;re out of power when the bubble bursts.
The ONLY economic idea Tories had since 1979 is to promote a housing bubble, and hope they& #39;re out of power when the bubble bursts.
The fundamental problem with this is: sure, your home being worth £500k sounds lovely, but it& #39;s unproductive. If it was worth £200k you& #39;d have £300k to spend on useful thing - things that employ people.
Rent and mortgage costs suck air out of a productive economy.
Rent and mortgage costs suck air out of a productive economy.
So you end up with a whole nation unable to invest in a business, an idea, a REAL thing, cos they& #39;re paying an artificially high price for a pile of bricks in a field.
And the people who own the field? 50% of them are ancestors of Norman Conquerers from 1066: aristocrats.
And the people who own the field? 50% of them are ancestors of Norman Conquerers from 1066: aristocrats.
And of course, they plough donations into the Tory party - although we should stop calling them donations and call them what they are: bribes.
"I& #39;ll give you £200k if you, on a nod and wink, protect my stranglehold on property prices"
"I& #39;ll give you £200k if you, on a nod and wink, protect my stranglehold on property prices"
So to defend the rights of the Earl of Cadogen and Duke of Westminster (who last did a useful thing for the nation 980 years ago) we crush the capacity of most of the nation to act productively and usefully.
And today& #39;s announcement is yet another manifestation of that.
And today& #39;s announcement is yet another manifestation of that.
