For goodness sake Mr. Sunak, take a wrecking ball to the Stamp Duty Escalator and let the markets fly free at last… the Treasury needs the revenue, retail spending needs the stimulus as does the UK economy
What an absolute shower! Thanks to the latest – most unwanted – Chinese import, which has brought most of the world to its plague-ridden knees, the once-flourishing UK economy is teetering on the edge of a Beachy economic Head and staring into the fiscal abyss. Continue reading
Here was a golden opportunity missed by the new Chancellor, to get the Residential Property Market off its knees, by reviewing the Stamp Duty Escalator, imposed by former Chancellor Osborne, in 2014.
According to the OBR (Office for Budget Responsibility), Osborne claimed that the Stamp Duty Receipts in 2014 i.e. £14.5billion would, as a result of his reforms, be £19.5billion in 2020, but instead, turned out to be a paltry £12.5billion.
In effect, that these measures cost the Treasury £1billion in lost tax and was an eye watering 50% prediction error, which is an unacceptable overstatement. Continue reading
It seems to be a rite of passage that before the ink is dry on the employment contract, every new Chancellor entertains the notion of meddling with private pensions. So I thought it would be useful to look at the fundamental difference between resources invested in your own home or alternatively, in a private pension. Both of these strategies will mean that you can help yourself to the ‘full cream’ retirement package in your autumn years, instead of having the skinny latte version. Continue reading