To feel utterly miserable about a future with Andy Burnham as PM?

[OneWarmHazelQuail]

I feel like I'm being stung in every possible way at the moment- £15 a day on tube to work, high mortgage costs, high energy costs, private schooling for SEN child (I was told state wouldn't be unlikely to assist him as he isn't mute or violent). My parents have had to help fund schooling it felt like my only hope as son has behavioural issues.

I also have an unsold old home that I have to rent out as it wouldn't sell. Buy-to-let mortgage costs, agent fees, maintenance and tax put me in a loss position.

I can't bear what the future holds with Andy Burnham. I have no doubt that he will find new and imaginative ways to keep me in this financial nightmare. I'm literally struggling from food poverty but regarded as rich by policy.

YABU- Andy Burnham is actually going to make things better

YANBU- I'm screwed

Burnham is a rape gang apologist and advocate of men in womens spaces

I think anyone with assets is going to be a target . He’ll hate me aswell , land , BTL SUV . Not a penny received from anyone all my own hard work . Lots of people will stop bothering to provide for themselves now , going the extra mile doing the overtime etc . Why bother when Labour take it off you rather than achieve any kind of growth to fund the economy .

Probably not if paying a mortgage on the house she can’t sell.

You pay income tax on any rental income. Do say the rent and the mortgage are both £1000, she will pay 400 directly to the government, hence being at a loss. Meanwhile, not paying anything towards the capital because interest rates area high.

i feel towards anyone that has a house they cant sell

So 14 years of Conservative government has had nothing to do with the state of Britain? Leaving the EU has nothing to do with the state of Britain? But 2 years of Labour leadership is fully to blame?

Goodness me, your understanding of the impact of the political landscape of the past 15 years or so is appallingly naive.

Your house won’t sell as you want too much money for it. Your child needing to go to private school is not due to two years of Labour leadership. Do you really think if the Tories were still in power there would be a difference to the choice you’ve made to pay for private school?

Tax revenue is already scheduled to rise from an average of about 33% of GDP in the last few decades to about 38-39% of GDP by 2030. It sounds to me like most of the Labour party want a bit more spending and a bit more tax on top of the existing plans. I suspect many people will get tired of the relentless increase in state spending (with little perceptible benefit) in the next few years. You are not the only one

Hmmm.
You have a second home and send your child to a private school. You are lucky enough to have well off parents who pay/help pay the fees. You are not on the bread line, not even close.
You made a choice not to reduce the asking price of your home in order to sell it and chose to rent it out. What happened to taking some responsibility for your choices? Your rental losses could easily be remedied by marketing your home at a realistic price, selling it and then reducing your mortgage.
None of the above is Andy Burnham's fault.
The political and economic situation in the UK and many other countries is a major concern. Burnham will just be another in a long stream of failed PMs.

Whoever is in charge, I worry about the future tax burden - both frozen thresholds continuing and so increases through fiscal drag, but also now land value tax / mansion tax / a possible 50p rate etc.

My mortgage is 50% higher than 5 years ago, there’s no ‘moving up the housing ladder’ as prices and stamp duty are so high, my childcare bills are crippling (no free hours here - £2.3k a month for a baby, no doubt that will be £2.4 or £2.5k by 1st Jan)… hard to see what I’m aspiring to exactly.

My one goal had always been a great house, but between the prices, the cost of borrowing, the high cost of stamp duty (and suggestion it could be removed), uncertainty about a LVT (and the high cost of this in my current home, let alone a bigger one!), the ongoing monthly cost of a mansion tax (the threshold for ‘mansion’ still in discussion)…. I just am not sure I can be bothered. The cost is too high - and all of the above is on income taxes at rates of up to 62%.

I just can’t be bothered.

Completely agree that inventives to work hard are being eroded.

I own a big house, it’s my only asset. we sacrificed a lot to be able to get it, I feel like the rules are being changed after we already started playing the game.

what worries me more though are businesses. So much damage done to my high street in the last 2 years

Finally someone else who gets it. Totally agree

You can sell pretty much any home if you price it correctly (cladding issues, etc excluded). If the OP did not want to reduce her asking price, that was her choice. The other problems followed on from this choice.

Sure. But I'm afraid I still don't feel sorry for anyone with a buy to let. It SHOULD be expensive to own a second property, especially with the current landscape and housing crisis.

I suspect OP can't sell it because the asking price is too high.

What absolute bollocks.

Who do you want as PM, OP? Nigel?

Exactly. Tiny violins.

Yep

“ £15 a day on tube to work” - nothing to do with the PM

“high mortgage costs” - you can start with the govt of Thatcher for that, and successive governments failing to build enough homes. Coupled with high immigration, and a financial policy that has encouraged houses as “assets” not “homes”. However, the % cost of your mortgage has to do with multiple factors, many of which are nothing to do with govt. You have a BTL - nobody has forced that on you.

“high energy costs” because our energy companies were sold by the Tories. Andy wants to look at renationalising things, but the takes time. He took out bus network back into private ownership, and that has been a huge success.

“private schooling for SEN child (I was told state wouldn't be unlikely to assist him as he isn't mute or violent). My parents have had to help fund schooling it felt like my only hope as son has behavioural issues”. - your choice, you made an assumption, plenty of children with SEN thrive in State schools.

“I also have an unsold old home that I have to rent out as it wouldn't sell. Buy-to-let mortgage costs, agent fees, maintenance and tax put me in a loss position” You could have sold this at any point, the main reason a house doesn’t sell is because of the price.

Take some ownership of your own decisions, spend a bit of time studying history, find out gear the government can (and can’t) do, and stop expecting systemic problems to be sorted overnight.

Why do you think that? Rental properties are required by the country. If she’s out her money into an isa she’d be getting growth tax free. What is the difference in your eyes?

I know quite a lot of people with flats where they canno sell them for the amount they bought them for.

So OP may be at risk of negative equity / doesn’t want to lose her deposit / thinks biding her time is better until interest rates are better / buyer confidence is improved.

And of course - many people are still stuck with cladding issues.

Pretty much everyone I know in London who has bought and sold a flat in the last five years has lost money.

So I agree - people should be disincentivised from owning multiple properties, but there may be some good reasons for ending up in this situation.

I thpught we were on this mess partly because of Tory austerity...and Brexit?

Could you please tell me exactly how the leader of the Labour government has made your life worse in the last 30 months? Like actual policy changes from the conservatives that have affected stuff for you.

We need a PM that is prepared to tackle benefits culture in this country and get people back to work. That is all.

Didn't Overton put forward that the electorate set the window, and the governments respond to it? This, the government doesn't move the window. The people do.

Yes, the prices of London based flats have been falling for years in many areas.
I don't think @OneWarmHazelQuail has mentioned whether this property is a flat or not. She hasn't mentioned negative equity that I noticed either. What she has done is complain that she is losing out financially from her decision to rent it out. The only solution to this problem, which is a result of her own choices, is to market it at a realistic price in order to ensure a sale.

The cladding issues are a separate issue and I have a huge amount of sympathy for this group of people.

Labour has crashed the economy spectacularly.

There has been a bloodless coup to install a far left Corbynite. It’s no wonder you are so miserable op, every working person will feel like you. The only posters on here celebrating this development will be the freeloaders on benefits.

The silver lining will be that Burnham has no mandate, he does not have the consent of the people, so unless he is utterly flawless and has a master plan to genuinely salvage the country from this carnage he will be out - and we will have a General Election much sooner than anticipated.

I agree most of our issues outdate the current government.

The whole LVT / stamp duty / council tax / mansion tax merry go round of discussion is causing quite a lot of uncertainty where I live (in a HCOL area).

Thing is, the situation is already not great due to the high cost of stamp duty (Tory policy) - but any overhaul has very significant financial implications (eg not paying stamp duty, or suddenly being eligible for huge monthly LVT costs in place of council tax).

This has just completely frozen the market, as people wait to see what happens next.

I wish they’d all just get on with stuff, the uncertainty is half the problem much of the time. It influences behaviour, even without new policies.

When it became clear that Rachel Reeve really was that incompetent, two years ago, I battened down the hatches and limited myself to essential spending only. Saved every penny I could. It was clear the economy would drop and I would need every resource just to survive.

I was right. My employer is halving their work force, mothballing a factory and we are being made redundant in two weeks.

My approach remains the same. Grit your teeth, live on as little as possible, cancel all discretionary spending, and we will be rid of Burnham and Reeve and their wasteful, spite-led politics in 2029. It can't come soon enough.