The Government is terribly vexed about house prices. They're falling, you see - and much of the pyramid scheme upon which Gordon Brown built our economy depends on this not happening.
So what do they propose?
Something peculiar called a "stamp duty holiday". This isn't even a proper tax cut, and we all know there's no such thing as a bad tax cut. Rather, it's a temporary cut. Oh, but only if the property in question is £175,000 or less.
This will apparently cost £600m, which has not been accounted for and sounds terribly dramatic, but in a trillion-pound economy, it's tantamount to losing 50p down the back of the sofa.
No; the obvious problem is more mundane - what happens if you're trying to sell a house for about £200,000 today, having been trying to flog it for a year or so? Chances are you've already cut it be 10% to match falling prices. Who on earth will now offer anything over £174,999 for anything? So your £220,000 house is now likely to sell for£175,000, or it won't sell. A drop of around a quarter, hastening the national drop in house prices they're so anxious to avoid.
You stupid, stupid bastards.
So what do they propose?
Something peculiar called a "stamp duty holiday". This isn't even a proper tax cut, and we all know there's no such thing as a bad tax cut. Rather, it's a temporary cut. Oh, but only if the property in question is £175,000 or less.
This will apparently cost £600m, which has not been accounted for and sounds terribly dramatic, but in a trillion-pound economy, it's tantamount to losing 50p down the back of the sofa.
No; the obvious problem is more mundane - what happens if you're trying to sell a house for about £200,000 today, having been trying to flog it for a year or so? Chances are you've already cut it be 10% to match falling prices. Who on earth will now offer anything over £174,999 for anything? So your £220,000 house is now likely to sell for£175,000, or it won't sell. A drop of around a quarter, hastening the national drop in house prices they're so anxious to avoid.
You stupid, stupid bastards.
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