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
After a constant diet of doom-laden scaremongery for the past three years, it’s strange to see a major newspaper report that the IMF are now extolling the virtues of hugely resurgent growth in the UK economy. So much so that Independent GB Ltd will make the Eurozone look like a grubby corner shop. Even ‘business’ group the CBI – not known for their pro-leave stance – had to announce that optimism in British factories has gone from -44 in October to +23 in January, reaching its highest level since 2014. I wonder what event could have precipitated this turnaround? So at last we can say ‘get lost’ in 27 languages to all the remoaners and their tedious, Armageddon-flavoured tirades that we had to suffer before the Election. Continue reading