The Zohan

Just how and what to you think Flash Gordon is going to foist us with.

Are we all going to be better off or is Gog's gonna bend us over and slip us his chubby - especially if you dive an gas-guzzling enviroment killing, baby eating 4x4.

stilover

My prediction is ......... we'll all be worse off, no matter how much you earn.

OllyK

As I mentioned on the other thread - I wonder what criteria they'll use to define a 4x4 for this higher band - assuming it happens.

The misses has a 4x4 - except most of the time it runs in FWD, it uses less petrol and puts out fewer emissions than the scoob.

simo

pants down & a good spanking by new labia

Petem95

One thing we NEED is a tax on investment properties.

We currently have a situation where young people cannot afford to buy a house to live in and bring up a family in, yet other have strings of buy-to-let properties.

Homes should be primarily to live in, not as investments.

Its encouraging to see a fair few people thinking along the same lines on the BBC website budget comments - I think the BTL backlash has started.

davyboy

We already have that.

Just save up some more money, or get a better job.

Graphite

From http://www.thisismoney.co.uk/news/ar...page_id=2&ct=5
The logic behind this is the worst I have ever seen

1, chelsea tractors are a problem
2, chelsea tractors are a status symbol
3, lets tax all 4x4's higher to get at the chelsea tractors
4, chelsea tractors are now more expensive to use
5, chelsea tractors are now MORE of a status symbol because they show you have more money
6, More chelsea tractors sold

The logic just does not work. But our government is intelligent (I know, but they should be!) so all I can see is that they are:

1, making the green lot happy thus getting their vote
2, see the chance to tax us even more
3, Have no real life experience.

If you've got money another £40 a year is peanuts! - What 1/2 a tank of fuel... Thats hardly going to stop anyone who wants a 4x4 as a pose machine.
It may affect people who want to run one for other purposes, towing, 7 seats, where non-metalled lane access is required. A lot of families run older 4x4s for their practicality - £40 a year extra is a bit different on a £1500 machine compared to a £50,000 machine!

Also Scoobs will come into this emissions bracket too
Even the 2.0 Sport is listed at 201 g CO2 per km.
2005 STI is 265 g/km

Land Rover Discovery3 Diesel is 249 g/km

If you are interested www.vcacarfueldata.org.uk - it's all a load of baloney though as far as I'm concerned

So all those who are living in glass houses and chucking stones around might want to think again!

Also in real terms if you halve the amount of miles you travel, you halve your emissions - it doesn't figure that if you drive a large car you are less environmentally friendly than someone with a smaller car!

Petem95

Hardly a solution is it? Even on doubt the national average salary its very difficult to buy anything.

Do you not agree that its about time investment properties were heavily taxed then?

davyboy

Isn't 40% tax enough?

OllyK

And my misses 4x4 comes in with an emission of 194

GrollySTI

Taxed (more) in what way.

Petem95

Well currently you can take out an interest only mortgage on an investment property, and if the mortgage payments are £1000 a month, and the rental income is £1000 a month then you would pay no tax.

Tax relief on the interest should be removed, then you'd pay £400 a month in tax on top (assuming 40% tax rate).

Seems to be a growing backlash against BTL, and its about time

Tiggs

lol...insane idea. so you make NO MONEY and still pay £400pm.... 40% on the gain as well when you do make money (or should that be 120% tax?)

unless you are in a £300 car i have no time for property moaners, too many get fed up with the lack of options while driving their scoob and getting 15 mpg.

Petem95

Well for your information tiggs I dont drive a scoob.

Flatcapdriver

Don't be ridiculous. That's just jealousy talking and has no foundation in the real world, whilst conveniently forgetting that for thousands of people in the UK renting is the preferred option so owners of Buy to Lets are doing many people a favour whilst filling Greedy Gordon's coffers.

As for the budget, I expect him to continue Labour's long history of ripping off Tory policy and repackaging it as their own so expect to see a continuance of some PFI initiatives which will help cook the books for another couple of years. Single mothers and other work shy slackers - their voters basically - will be handed another lifeline in order to help them avoid working for a living and the military will get another bung to stop them whingeing about having to support yet another illegal invasion. Sadly, this budget allocation will just about keep up with inflationary levels of 1997 so they'll still be short of decent kit and resources but hey, they're used to being stretched!

As much as I detest soft roaders, I don't see taxation as an option but given the jealousy ridden society we live in and the fact that the majority of people who drive them are relatively well off, then the common man will see this as justifiable and a victory for the working classes.

paulr

Budget day predictions.

PSLewis will say its the best budget ever.
Leslie will say its all down to Europe.
UncleBuck will just moan.
Tiggs will look for the post where he can give the most contrary answer.
...and Paul Habgood will accuse me of being a second-rate PSLewis.

Another day on scoobynet then.......

..

GrollySTI

Well said Tiggs

The Zohan

LMAO at the poor mans PSL!

Just kidding - you are a diamond in the rough!

Mungo

Hmm, so who's living in all these BTL properties then? A BTL property is only a good investment if there are people living in it and paying rent.
There have always been plenty of young families living in rented accommodation (private or council), without any stigma attached whatsoever. It's very much a new thing for every working person to expect to buy themselves a house. It's also completely unrealistic.

MattW

I think Mungo is getting at the crux of the problem here. For many decades young people were expected to rent, during the 80's home ownership became more affordable or renting became less acceptable(whatever your point of view). In many European countries, renting is the norm. Maybe we should change our attitudes.

Mungo

Yes, exactly. So what exactly would you suggest be taxed? It's run as a business, so business expenses (the mortgage interest) are offset against the rental income to arrive at taxable profit. The investor isn't making any profit, so there's no tax. If the property is later sold at a profit, those profits will be taxable. Are you suggesting that mortgage interest not be an allowable business expense? This is just not sensible. There is already a (hefty) tax on property purchases - it's called Stamp Duty, and is a tax on the principle amount, not just on interest expense.
Stifling business (even the apparently dirty business of private rentals) is not a good way to stimulate the economy.

simo

PS Lewis said that he was off on business for a few days.

maybe he is in London Town kissing Gordons **** for the wonderful job that he is doing

Leslie

I had to laugh at one commentator after the budget who said that Gordon Brown was making a lot of money by selling off our assets, but whan it came to the House of Lords, the PM was taking care of that!

Les

Big Daz

When does this come into effect?
Especially this bit : - "*Stamp duty exemption raised to £125,000 "?

As I am buying a new house in may this might help a wee bit

Daz

Tiggs

where do you get a house under £125?

BOB.T

Tiggs, mine's worth around 90k, it's yours for 124,999.99

Flatcapdriver

You can get flats for that but I wish they hadn't raised the threshold to those levels.

OllyK

There are loads of them when you get north of the Watford gap.

SiDHEaD

The PDF is out - http://news.bbc.co.uk/1/hi/uk_politics/4832848.stm

Cars over 225g/km co2 are £210 now. Thats me then