We have just had the worst budget in decades
Ladies and Gentlemen, (and those who have yet to decide) we have just witnessed one of the worst budget in decades.
Taxes remain at a seventy year high, yet more people paying more due to ‘fiscal drag’ and a cynical reduction of 2p in National Insurance which does not even cover what they have taken over the last few years.
There was absolutely nothing to address the housing crisis, no incentive for individuals to renovate the 600,000+ houses that are derelict, empty or unfit for purpose.
I have been accusing the major developers of being corrupt for years, and over the last year, my message has been to all first-time-buyers seeking to purchase with a small deposit has been:
DO NOT BUY NOW!
Yet here we are, after thousands of young people have bought themselves in to years of negative equity, and now the CMA is investigating suspected exchanges of competitively sensitive information by 8 housebuilders in Great Britain under the Competition Act 1998.
The 8 housebuilders whose activities are being investigated are:
- Barratt Developments plc and its group companies
- Bellway plc and its group companies
- The Berkeley Group plc and its group companies
- Bloor Homes Limited and its group companies
- Persimmon plc and its group companies
- Redrow plc and its group companies
- Taylor Wimpey plc and its group companies
- Vistry Group plc and its group companies
In my experience in the industry, I have repeated time and time again, that valuers would not dare to down-value a property being sold by one of the major developers, because they would facing a legal action from a large corporation and most valuers are small concerns or individuals.
Yet when those very same buyers need to sell on a year or two later, they suddenly find that their property has been down-valued. I have always maintained that valuers should be immune from litigation based on their valuation, because ultimately, it is those in most need, who are exploited by them.
There are over 1 million parcels of land with or without permission that are owned by the large developers, who hold on to them to control the market and to squeeze out the smaller developers, more than half of planning granted in London is never implemented.
This practice must end now!
This is just one of many failings of an administration that claims to support business, yet in practice, it is clearly obvious that they only support themselves and their friends.
Vast sums of public money is paid voluntarily as interest on QE reserves, this is around £35 Billion per year, which should be stopped. We are on the verge of a total collapse in the Net Zero plans, because they are simply not working, but the cost is causing severe hardship, once again, this should be stopped, saving the British taxpayer around £30 Billion per year.
The list goes on and on, no incentives for investment in deprived areas, no incentives for work-based training, with the focus continuing to be for thousands of young people signing up to a lifetime of debt for ‘non-degrees’
The issue of online sales, in particular those from overseas that are below £135, which is by far the vast majority has not been addressed. I am in favour of sales tax, deducted at source, to ensure that those who sell in the UK should pay in the UK, this could also be used to level the playing field and help our high streets. I have no doubt that most people would like to see their high streets brought back to life.
The list goes on and on, but it seems that this administration has become so incompetent and so arrogant, that they really do believe that a token gesture would suffice to get them re-elected……….it will not.
The British public will send the Conservatives to the Gallows at the next election, and with that in mind, I would actually contradict their knee-jerk narrative:
“A vote for the CONSERVATIVES is a vote for Labour!”