UK General Election 2029 - Trading ONLY thread

[firlandsfarm]

Can't believe she's still bleating on about the preceding Conservative government. It's been 18 months now. How much longer before Labour start taking responsibility for their own policies?

Never!

[jamesedwards]

Budget leaked before it's been delivered. What a complete and utter shambles this budget has been.

Will you be paying £2.5k or £7.5k annual mansion tax, Peter?

[Euler]

My main worry with this tax is fiscal creeping over the years. You can see governments changing the banding or extending the scope, meaning people will end up renting the house they bought from the government. Lots of houses, mine included, already pay two lots of council tax. Lots of people, especially those calling for taxes on bigger properties, don't know that.

[weemac]

My main worry with this tax is fiscal creeping over the years. You can see governments changing the banding or extending the scope, meaning people will end up renting the house they bought from the government. Lots of houses, mine included, already pay two lots of council tax. Lots of people, especially those calling for taxes on bigger properties, don't know that.

Renting will become ever more difficult as the increased tax payable by landlords will push up rents and/or push many out of the game. The poor will suffer the most.

[jamesedwards]

My main worry with this tax is fiscal creeping over the years. You can see governments changing the banding or extending the scope, meaning people will end up renting the house they bought from the government. Lots of houses, mine included, already pay two lots of council tax. Lots of people, especially those calling for taxes on bigger properties, don't know that.

That's also the problem with any wealth tax. 2% on £10m+ today becomes 5% on £10k+ tomorrow.

[firlandsfarm]

Renting will become ever more difficult as the increased tax payable by landlords will push up rents and/or push many out of the game. The poor will suffer the most.

Renting does not bypass supply and demand economics. Landlords will only be able to increase rents to what the market will bear. I set my rents at a level that gets fast take-up. I could never see the point of leaving your property empty for a month just to gain an additional £50pm rent when it will take 20 months to recover the rent lost while seeking a new tenant!

[ForFolksSake]

My main worry with this tax is fiscal creeping over the years. You can see governments changing the banding or extending the scope, meaning people will end up renting the house they bought from the government. Lots of houses, mine included, already pay two lots of council tax. Lots of people, especially those calling for taxes on bigger properties, don't know that.

meaning people will end up renting the house they bought from the government.

.
....that's what happens when you get 'Alzeimhers' and have to pay for social care £2k/week

[Tuco]

Renting will become ever more difficult as the increased tax payable by landlords will push up rents and/or push many out of the game. The poor will suffer the most.

...most governments only ever think of one move ahead - not two and never three - and the consequences of their 'single move actions' usually then become a problem for the following government, who then blame the last one for all their difficulties....and so on...

[jamesedwards]

Renting will become ever more difficult as the increased tax payable by landlords will push up rents and/or push many out of the game. The poor will suffer the most.

...most governments only ever think of one move ahead - not two and never three - and the consequences of their 'single move actions' usually then become a problem for the following government, who then blame the last one for all their difficulties....and so on...

This is the fundamental flaw of democracy. A dictator can make the difficult calls now and reap the benefits in the future. A democratically elected Government is only interested in the next election.

[Tuco]

This is the fundamental flaw of democracy. A dictator can make the difficult calls now and reap the benefits in the future. A democratically elected Government is only interested in the next election.

...yep

[firlandsfarm]

I'm sure the experienced political traders will know of https://www.electionpolling.co.uk/ but for me I found masses of election data. Have a play with the links and database search facilities

[firlandsfarm]

Are traders considering this ...

Considering this Government's history of postponing elections where they fear the result and their desire to repeat an election that returned the 'wrong' result what's the chance they will delay the next GE if they fear the result? It is possible, the requirement that a Government cannot exist for more than 5 years without an election is a myth. I asked ChatGPT to explain the position. It advises the true position is ...

"In UK terms the “constitution” about general elections can be changed by an ordinary Act of Parliament (plus Royal Assent).

There is no special super-majority or referendum requirement in law to change who calls elections, how long Parliaments last, or whether terms are fixed or flexible. Those rules live in normal statutes, so Parliament can amend or repeal them like any other law."

So with it's majority in the Commons Labour could easily delay the next GE if they wanted to even if 50 or so of their MPs vote against such a move they would still control the House! The odds may be like those of a tied cricket match, unlikely but possible!

Edit: The Lords would have an absolute veto over such a move as the Parliament Acts specifically exclude such action as a safeguard but Labour is on course to gain a majority in the Lords by 2027!