Originally posted by mattster
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Mini Budget aka Fiscal Statement
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Originally posted by d000hg View PostSeveral of the tax 'cuts' are IIRC not really cuts, but cancelling the planned increases which didn't yet take effect?
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The energy price cap will reduce inflation in the short-term but this, and the tax cuts, may cause inflation to persist for longer meaning higher interest rates for longer, possibly leading to a more drawn out recession.
If I was the Tories, I wouldn't count on things being too rosy by the time of the GE. The real tulip show may not really get going until next year.Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.Comment
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Originally posted by jamesbrown View Post
TBF, stamp duty is a highly inefficient tax because it rigs transaction volumes. However, eliminating or reducing stamp duty alone is... suboptimal. Ideally, you'd do it together with planning reform and council tax revaluations and/or adding extra categories, but they reach for the easy thing (stamp duty) without addressing the hard things.Comment
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Originally posted by mattster View Post...they are simply trying to pump the housing market up again (and they'll probably succeed..).
The markets are expecting the base rate to hit 3.75% by the end of the year.Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.Comment
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Originally posted by DealorNoDeal View Post
Might depend on how high interest rates end up having to go to curb inflation and, if there is a recession, how bad/prolonged it is.
High prices will stop people spending especially if they don't get pay rises at all or equal to inflation.
"You’re just a bad memory who doesn’t know when to go away" JRComment
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Originally posted by jamesbrown View Post
Look againI am what I drink, and I'm a bitter manComment
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Originally posted by mattster View Post
Agree that stamp duty is a tulipty tax, particularly in the way that it inhibits free movement, but they are not getting rid of it for that reason - they are simply trying to pump the housing market up again (and they'll probably succeed..).Comment
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Originally posted by jamesbrown View Post...interest rates trump absolutely everything...
People may be thinking that higher interest rates will be a short-term phenomenon but I wouldn't bank on that.
And, as you say, energy price cap + tax cuts may end up fuelling inflation and keeping interest rates higher for longer.Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.Comment
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Originally posted by Snooky View Post
If you mean the utility providers, they're on wafer-thin margins, which is why many of them have gone down the pan.
However, there seems to be a reluctance to address fundamental issues, particularly in the electricity 'market' where the marginal price is set (mostly) by gas and certain generators arguably receive 'excessive' profits. I think that in the long term market reform, or maybe even nationalisation, is needed.Comment
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