Labour isn't Working - Thread 36

[Nuthatch26]

A chat thread for those who don't like this Labour government 💙

The problem with socialism is that you eventually run out of other people's money.

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he is a legend in his own lunchtime

😂 Very much the vibe I got!

I think more exposure is to be welcomed. At first I was like, who is this arse? Then I find out he is making big donations to Labour and the Greens. Seems best we are all aware. To know him is not to love him.

So C*nt Binface used to work on Newsnight…what a surprise….😡

No. Not a surprise as he's worked on loads of BBC programmes. It's not really an issue.

What he hasn't done is taken a £5m bung or money from criminals.

I know who has the most credibility out of him and Farage.

I go to church once in a blue moon

Today, in a church I don't know, the Vicar wanted us to pray for the outgoing and incoming Prime Minister.

I mean, fair enough - it was just unexpected. I managed not to be a school child so I didn't giggle. Just wanted to share that with you all. (although I know some people dislike my anecdotes intensely).

I think they should be praying for the UK public.

Very easy if he's brave. The manifesto promised no tax rises for hard working people. So the answer is to scrap NIC and raise income tax. "Workers" will pay the same, the higher income tax compensated by no NIC. "Non workers" currently not paying NIC will pay more income tax. That way two people on identical incomes pay the same, regardless of the nature of the income. It's been grossly unfair for a long time that someone living on pensions, or interest or dividends or foreign income pays less "tax" than a worker on the same income who suffers NIC.

That would be super-brave!

Let's see where he goes...

A Hail Mary is all that this Labour government has left.

That is bizarre, I like your anecdotes. I agree with @Ereshkigalangcleg

"Green Party returns inadmissible donation from Zack Polanski - BBC News" https://www.bbc.co.uk/news/articles/c6219yym2g1o

Where did Polanski find £1.5 million to donate in the first place?

The article says it's £1.5k, not £1.5m. Is it their typo or yours?

I think it’s £1500 rather than 1.5 million, the guy can’t even afford to pay his council tax, allegedly!

Sorry it's my eyes. I've four different types of eye drops to put in, hayfever has made them fiery bloodshot too. I'm off to the GP tomorrow.

I'll start on the eye drops now. Ten minutes between doses though so I'd better lay off the reading 🙈😁

<grabs microphone>

It’s the Final Countdown!

Do do do do, do do do do do!

<clears throat>

Sorry about that 😳

Just the one week left for Starmer, with the King in Waiting set to be proclaimed on Thursday and crowned on Monday.

The sceptics have pointed out that means Starmer will go down in history as the PM if England win the World Cup on Sunday - no way he’s letting Andy take the credit for that!

Personally I couldn’t give a stuff about the football, but the pettiness appeals to me 😜

Reeves too.

BOGOFF, if you prefer.

I hope OR is successful in taking this legal action

Sir Olly said: “I bring this action reluctantly. It would have been unnecessary if the Prime Minister had simply apologised for his mistake and made amends for the distress and cost it caused me and my family.

“Instead, I now have to ask the courts to determine that the Prime Minister’s decisions were unlawful, unreasonable and to quash them.”

Angela Rayner’s reletting ban on rental properties will leave 100,000 landlords unable to sell or rent, data suggests.

Under Labour’s Renters Rights Act, which took effect on May 1, if a landlord regains possession of a rental property in order to sell, they cannot relet it for 12 months.

But analysis has revealed that more than half of rental properties (51pc) put on the market last year failed to sell.

Estate agency Hamptons found that if the rental reforms had been in place last year, an estimated 80,000 to 100,000 unsold properties would have been barred from taking on tenants.

Yep, Labour are sure solving the housing crisis…

Angela Rayner’s reletting ban on rental properties will leave 100,000 landlords unable to sell or rent, data suggests.

Under Labour’s Renters Rights Act, which took effect on May 1, if a landlord regains possession of a rental property in order to sell, they cannot relet it for 12 months.

But analysis has revealed that more than half of rental properties (51pc) put on the market last year failed to sell.

Estate agency Hamptons found that if the rental reforms had been in place last year, an estimated 80,000 to 100,000 unsold properties would have been barred from taking on tenants.

Yep, Labour are sure solving the housing crisis…

@Bullandbear yes that reletting ban struck me as bonkers. I'm not too familiar with the new legislation as a whole though.

@CaveMum you what occurs to me is what happens at a victory party. It would be nice if all party leaders went but it seems weird for the sitting PM to be there if a different PM was in power when they won

I can kind of understand the re-letting ban, as it prevents landlords doing what the housing minister did and booting tenants out to re-let at a vastly increased amount. They'd have to at least <pretend> to want to sell it now, but how long they'd have to give it on the market before it 'fails' to sell is something else.

A better thing to have done would have been to say that they can't re-let at a higher price than they were achieving before if within the 12 month period.

I had an email from rent smart Wales on Friday. Time to renew your licence. Okay you think but I have to resit a long convoluted bloody exam, which if I fail I have to resit until I pass. This is every three years I think. Luckily friend works in the lettings industry so will help me. It's going to cost me hundreds.

Just when I thought I was ahead.

Tenant last year we replaced all their carpets, the year before their boiler. They may well demand something else this year.

They've been tenants for a decade but are young and savvy so request xyz every year. They're paying £200 below market rates pcm. I feel like a charity. When my profit at the end of each year is £2.5k which I am taxed on.

I don't have a mortgage on the property. I don't know how people who need a mortgage make any money.

I can understand why good small landlords are selling up. England will go the same way.

We stopped being Landlords about 10 or so years ago

I’m shocked to hear about this Exam
What’s that all about ?

ps. Why are you charging so much below market rent. .

We had a brief foray into being landlords as we had a stint in a different country and wanted to keep our UK property.
Never. Again. Most stressful thing you can do imo, must be ten times worse now.

It’s utterly bonkers isn’t it?

I think you’ve otherwise hit the nail on the head - only the unlevered can currently survive this.

Fiscal risk, regulatory risk, credit risk, operational risk, asset value risk - there is zero upside to be a LL.

Elsewhere in Labour’s magical land of never-ending tax.

HMRC could force self-employed workers and landlords to pay tax monthly on income they have not yet earned.

Under plans being consulted on by the Government, tax could be deducted each month, with the amount owed based on the previous year’s tax return.

The rules would apply to those earning income over an as-yet-undecided threshold. Currently, the amount of tax collected through PAYE is capped at 50pc.

Yep, that will help with cash flow.