Reply to: An election winning Budget ?

[Gonzo]

My take :

(1) No tax rises (except for a few rich people with £1m houses)
(2) Deficit under control, due to fall dramatically
(3) No cuts in services or spending (see also 2)

How can they lose?

66% of the petrol duty increase deferred until after the election.

Well, without it being a give away it is 100% political. I don't think it's going to persuade any floating voters with any nowse. Unfortunately, a lot of people in this country are suckered in by that sort of Labour BS.

It might just be enough to persuade many that were thinking of abandoning Labour not to do so.

[HairyArsedBloke]

The best help Gordon could give to first time buyers would be to let house prices fall.

Aye.

[TimberWolf]

The best help Gordon could give to first time buyers would be to let house prices fall.

[Moscow Mule]

There was going to be an exodus of bankers because they would have to pay a bonus tax - which didn't happen, and brought in more money than was estimated.

It takes a while to move a whole team of folk - which is what the banks were saying to their investment teams: "you can move offshore if you want, but it's all, or none, of you - no split teams".

A few have gone, a few more are going, a lot more can't be arsed and will just take wages as capital distribution to get around it as much as possible.

[The Wikir Man]

And who's going to buy them if the rich people are being chased out?

Is there any evidence that the rich are actually being chased out?

There was going to be an exodus of bankers because they would have to pay a bonus tax - which didn't happen, and brought in more money than was estimated.

The numbers of non-doms registering is higher than was predicted - so where are these rich that are leaving in droves?

[Moscow Mule]

So what if I sell a house as two flats? You can have the first floor "flat" for £750,000 and the ground floor "flat" for £750,000?

/I'm sure this has been thought of and crushed by the bar stewards!

You'll have to put a front door in, fireproof the escape routes and get building control to sign off.

Then you'll have to get some plans drawn up to define the boundaries.

Then you'll need to amend the existing deed, and generate a new one for which ever floor is not amended.

Then you'll have to go and visit the land registry.

[The Wikir Man]

So many people hope you're right.

Well, it's going to be a new resident after the election, no matter who wins or forms the coalition.

[DimPrawn]

No. They just won't sell them. Or they'll follow Mr Advocate's idea. Anyway, are non-doms liable to British stamp duty?

And who's going to buy them if the rich people are being chased out?

I believe non-doms do pay stamp duty on buying a UK property.

[Mich the Tester]

Increase stamp duty on £1million houses won't stop a change of resident at number 11 Downing Street.

So many people hope you're right.

[The Wikir Man]

Increase stamp duty on £1million houses won't stop a change of resident at number 11 Downing Street.

[Mich the Tester]

In Surrey alone there are 200+ properties for sale at £3,000,000 or more.

http://www.rightmove.co.uk/property-...nPrice=3000000

So it will impact 1000's of buyers.

They won't be reducing their £15,000,000 house to £999,999

No. They just won't sell them. Or they'll follow Mr Advocate's idea. Anyway, are non-doms liable to British stamp duty?

And who's going to buy them if the rich people are being chased out?

[DimPrawn]

What is the point of increasing stamp duty on houses over a million? Won’t that just mean that lots of smart houses will be valued at 999,995 pounds?

In Surrey alone there are 200+ properties for sale at £3,000,000 or more.

http://www.rightmove.co.uk/property-...nPrice=3000000

So it will impact 1000's of buyers.

They won't be reducing their £15,000,000 house to £999,999

[Advocate]

What is the point of increasing stamp duty on houses over a million? Won’t that just mean that lots of smart houses will be valued at 999,995 pounds?

So what if I sell a house as two flats? You can have the first floor "flat" for £750,000 and the ground floor "flat" for £750,000?

/I'm sure this has been thought of and crushed by the bar stewards!

[Mich the Tester]

What is the point of increasing stamp duty on houses over a million? Won’t that just mean that lots of smart houses will be valued at 999,995 pounds?

[Mich the Tester]

My take :

(1) No tax rises (except for a few rich people with £1m houses)
(2) Deficit under control, due to fall dramatically
(3) No cuts in services or spending (see also 2)

How can they lose?

wealth creators