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  1. #21

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    Quote Originally Posted by chopper View Post
    Surely rents would go up? The only landlords would be the mega-rich, there would be a lower supply not matching demand. I doubt they'd have any desire to reduce the rents they charge. They'd probably put them up.

    Many businesses borrow money to buy assets (stock, machinery, buildings) so why should being a landlord be the reserve of the super rich who don't need to borrow?
    Because all of them are Tories.

    During 1998-2001 Ireland implemented its own version of Section 24 - though a less severe version that did not hit existing mortgages, only new ones, so the change was not retrospective in nature. And still, the outcome was that rents across Ireland rose by ~50% in just three years - the scheme then had to be scrapped.

    And not that I'm one to quote the Daily Wail often but there are rumblings of the Tories looking to incentivise longer term tenancies: Will the Budget repeal landlords tax on longer tenancies? | Daily Mail Online

  2. #22
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    Quote Originally Posted by chopper View Post
    Surely rents would go up? The only landlords would be the mega-rich, there would be a lower supply not matching demand. I doubt they'd have any desire to reduce the rents they charge. They'd probably put them up.

    Many businesses borrow money to buy assets (stock, machinery, buildings) so why should being a landlord be the reserve of the super rich who don't need to borrow?
    So houses miraculously burn down when a landlord sells up. The rental market for housing is remarkable consistent when it comes to people buying a house to live. The demand for rental houses decreases by 1, the supply of rental houses may or may not decrease by 1.

    Also businesses can no longer automatically deduct all loan interest from their taxable income - it is changing so that only some allowances remain...
    merely at clientco for the entertainment

  3. #23
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    Quote Originally Posted by ChimpMaster View Post
    Because all of them are Tories.

    During 1998-2001 Ireland implemented its own version of Section 24 - though a less severe version that did not hit existing mortgages, only new ones, so the change was not retrospective in nature. And still, the outcome was that rents across Ireland rose by ~50% in just three years - the scheme then had to be scrapped.

    And not that I'm one to quote the Daily Wail often but there are rumblings of the Tories looking to incentivise longer term tenancies: Will the Budget repeal landlords tax on longer tenancies? | Daily Mail Online
    Any evidence (i.e. a link) to the statement above? Everything I've seen (and I've seen a lot of reports regarding Ireland and their S24 equivalent) shows that it was not the case..
    Last edited by eek; 13th October 2017 at 11:23.
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  4. #24

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    Quote Originally Posted by eek View Post
    Any evidence (i.e. a link) to the statement above? Everything I've seen (and I've seen a lot of reports regarding Ireland and their S24 equivalent) shows that it was not the case..
    There are plenty of reports out there for which empirical research has been carried out, for example: Ireland's scrapping of buy-to-let tax is 'warning to Britain' and of course the dozens of other reports.

    But you have a remarkable amount of time to troll posts so perhaps you can spend some time to provide links to show "that it was not the case".

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