Tagged: help to buy

What the Conservative win means for your money

The lovely wibbly wobbly old lady

Article reposted from AOL Money UK

Good Morning my darlings. I’m feeling a little less emotional about the election result (still angry though) and so I decided to look into what’s to come …

​What the Conservative win means for your money© PA Wire

Few people predicted any one party could win outright but now the Conservatives have done just that.

Before today, the party manifestos were seen as starting points for coalition negotiations, but now that the Tories have won a small majority they will be able to implement their pledges.

So what were those pledges and how will they affect you? Let’s take a look…

Your taxes

The Tory manifesto was stuffed full of promises on tax, including raising the personal allowance to £12,500 and increasing the 40% tax threshold to £50,000. The threshold is currently £42,386, which means current higher-rate taxpayers could save a tidy sum.

A key Conservative pledge was on inheritance tax…

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North East MPs clash over house prices effect on Chancellors Budget

Stagnating North East house prices are undermining George Osborne’s Budget, MPs have warned.

Labour has hit out at claims the region is set to benefit from the Chancellor’s latest Budget, despite many of the measures being welcomed by the North East Chamber of Commerce.

As the Budget debate continues in Parliament, Hexham Conservative Guy Opperman spoke up for what he said were Government policies helping grow the North East economy.

He told MPs: “In the North East, the Help to Buy scheme is absolutely transforming the housing market. In Humbles Wood in Prudhoe, a housing development in my area, 90% of new purchases have been through Help to Buy. That must be good news.”

But his claim riled North Durham MP Kevan Jones, who quipped that the Conservatives are likely to adopt “Happy Days are Here Again as their 2015 General Election theme tune” but said people wouldn’t be fooled into believing everything was rosy.

He told the House of Commons: “I am not sure what nirvana the honourable member for Hexham lives in if he thinks that the housing market in the North East is booming. Average house prices here are still £5,000 lower than in 2008; that compares to an increase of about £77,000 in London.

“The honourable gentleman also fails to recognise that 16% of people in the North East are still in negative equity. The idea that somehow the housing market in the region is booming is wrong. We have a two-speed Britain – a booming South East and London, and a stagnating North.”

“The honourable member for Hexham described Hexham, which is a nice constituency, and the North East, but he is living in some type of parallel universe if he thinks that the North East economy is booming. Well-paid jobs in the public and private sectors have been replaced by low-paid zero-hours contracts.”

Source – Newcastle Journal  03 April 2014

Coalition drags out the pain with promise of many more cuts

Mike Sivier's blog

140205cuts

The BBC has reported findings by the Institute for Fiscal Studies, showing that the Coalition government will be less than halfway through its planned spending cuts by the end of the current financial year (March 31).

The organisation said 60 per cent of the cuts were still to come.

This raises a few urgent questions. Firstly: This government was formed on the promise that it would balance the books by 2015, which presupposes that its entire plan for doing so would be in place long before then. We know that this ambitious claim was dismissed after years of failure, but part of the reason for this failure was that George Osborne stopped a recovery that was already taking place, and which would have led to economic growth of 20 per cent by now, if it had been allowed to continue (according to Michael Meacher MP). My question, therefore…

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