Macroeconomics, the economy, inflation etc. *likely to be very dull*
Comments
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Or they could buy a more expensive house and pay no tax, live in it for 5 minutes and sell it for a £1k capital gain and pay £200 tax and upgrade their cabinTheBigBean said:
I struggle to understand this. Imagine someone is sitting on a £1m capital gain. They could sell, spend £300k on a nice warm flat, take £700k in profit less £140k capital gains (£560k of cash for them), then go on an annual cruise and live it up. Or they could be cold, poor and pay £200k capital gains tax when they die anyway.surrey_commuter said:
thinking with the heart and not the headpblakeney said:
I fail to see the logic in struggling financially with an oversized property that could be sold for a profit.rjsterry said:
Indeed. It would add a massive distortion to the property market and ensure even more elderly people end up with oversized properties that they can't afford to maintain. Just look at the effort people went to to avoid a bit of extra stamp duty a few years back.surrey_commuter said:
would hat not make people even less likely to downsize?TheBigBean said:
As above, when downsizing.kingstongraham said:
You'd only pay it when you sold the property then?TheBigBean said:If I ruled, there would be capital gains tax on main residences, but you would be allowed to defer it when buying a new more expensive property.
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I'm sure allowing someone to deduct the cost of their next home from their capital gains would have absolutely no unintended consequences 😊.TheBigBean said:
I struggle to understand this. Imagine someone is sitting on a £1m capital gain. They could sell, spend £300k on a nice warm flat, take £700k in profit less £140k capital gains (£560k of cash for them), then go on an annual cruise and live it up. Or they could be cold, poor and pay £200k capital gains tax when they die anyway.surrey_commuter said:
thinking with the heart and not the headpblakeney said:
I fail to see the logic in struggling financially with an oversized property that could be sold for a profit.rjsterry said:
Indeed. It would add a massive distortion to the property market and ensure even more elderly people end up with oversized properties that they can't afford to maintain. Just look at the effort people went to to avoid a bit of extra stamp duty a few years back.surrey_commuter said:
would hat not make people even less likely to downsize?TheBigBean said:
As above, when downsizing.kingstongraham said:
You'd only pay it when you sold the property then?TheBigBean said:If I ruled, there would be capital gains tax on main residences, but you would be allowed to defer it when buying a new more expensive property.
1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
What downside do you see? The concept isn't wild e.g. rollover relief already exists for business for some assets.rjsterry said:
I'm sure allowing someone to deduct the cost of their next home from their capital gains would have absolutely no unintended consequences 😊.TheBigBean said:
I struggle to understand this. Imagine someone is sitting on a £1m capital gain. They could sell, spend £300k on a nice warm flat, take £700k in profit less £140k capital gains (£560k of cash for them), then go on an annual cruise and live it up. Or they could be cold, poor and pay £200k capital gains tax when they die anyway.surrey_commuter said:
thinking with the heart and not the headpblakeney said:
I fail to see the logic in struggling financially with an oversized property that could be sold for a profit.rjsterry said:
Indeed. It would add a massive distortion to the property market and ensure even more elderly people end up with oversized properties that they can't afford to maintain. Just look at the effort people went to to avoid a bit of extra stamp duty a few years back.surrey_commuter said:
would hat not make people even less likely to downsize?TheBigBean said:
As above, when downsizing.kingstongraham said:
You'd only pay it when you sold the property then?TheBigBean said:If I ruled, there would be capital gains tax on main residences, but you would be allowed to defer it when buying a new more expensive property.
I just don't understand why someone should be able to receive a vast amount of money tax free.0 -
They wouldn't eliminate the CGT liability simply by buying a new property. The base amount would remain as per the purchase of the original property.surrey_commuter said:
Or they could buy a more expensive house and pay no tax, live in it for 5 minutes and sell it for a £1k capital gain and pay £200 tax and upgrade their cabinTheBigBean said:
I struggle to understand this. Imagine someone is sitting on a £1m capital gain. They could sell, spend £300k on a nice warm flat, take £700k in profit less £140k capital gains (£560k of cash for them), then go on an annual cruise and live it up. Or they could be cold, poor and pay £200k capital gains tax when they die anyway.surrey_commuter said:
thinking with the heart and not the headpblakeney said:
I fail to see the logic in struggling financially with an oversized property that could be sold for a profit.rjsterry said:
Indeed. It would add a massive distortion to the property market and ensure even more elderly people end up with oversized properties that they can't afford to maintain. Just look at the effort people went to to avoid a bit of extra stamp duty a few years back.surrey_commuter said:
would hat not make people even less likely to downsize?TheBigBean said:
As above, when downsizing.kingstongraham said:
You'd only pay it when you sold the property then?TheBigBean said:If I ruled, there would be capital gains tax on main residences, but you would be allowed to defer it when buying a new more expensive property.
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So you would roll up the capital from each of your properties and then pay it when you downsize?TheBigBean said:
They wouldn't eliminate the CGT liability simply by buying a new property. The base amount would remain as per the purchase of the original property.surrey_commuter said:
Or they could buy a more expensive house and pay no tax, live in it for 5 minutes and sell it for a £1k capital gain and pay £200 tax and upgrade their cabinTheBigBean said:
I struggle to understand this. Imagine someone is sitting on a £1m capital gain. They could sell, spend £300k on a nice warm flat, take £700k in profit less £140k capital gains (£560k of cash for them), then go on an annual cruise and live it up. Or they could be cold, poor and pay £200k capital gains tax when they die anyway.surrey_commuter said:
thinking with the heart and not the headpblakeney said:
I fail to see the logic in struggling financially with an oversized property that could be sold for a profit.rjsterry said:
Indeed. It would add a massive distortion to the property market and ensure even more elderly people end up with oversized properties that they can't afford to maintain. Just look at the effort people went to to avoid a bit of extra stamp duty a few years back.surrey_commuter said:
would hat not make people even less likely to downsize?TheBigBean said:
As above, when downsizing.kingstongraham said:
You'd only pay it when you sold the property then?TheBigBean said:If I ruled, there would be capital gains tax on main residences, but you would be allowed to defer it when buying a new more expensive property.
That is going to be one hell of a downsize.
Whilst I think your idea is madder than all of mine put together I do think one good unintended consequence is that if people added up the true costs of buying, owning and selling property they would stop kidding themselves about how much profit they had made.0 -
That's quite a put down!surrey_commuter said:
So you would roll up the capital from each of your properties and then pay it when you downsize?TheBigBean said:
They wouldn't eliminate the CGT liability simply by buying a new property. The base amount would remain as per the purchase of the original property.surrey_commuter said:
Or they could buy a more expensive house and pay no tax, live in it for 5 minutes and sell it for a £1k capital gain and pay £200 tax and upgrade their cabinTheBigBean said:
I struggle to understand this. Imagine someone is sitting on a £1m capital gain. They could sell, spend £300k on a nice warm flat, take £700k in profit less £140k capital gains (£560k of cash for them), then go on an annual cruise and live it up. Or they could be cold, poor and pay £200k capital gains tax when they die anyway.surrey_commuter said:
thinking with the heart and not the headpblakeney said:
I fail to see the logic in struggling financially with an oversized property that could be sold for a profit.rjsterry said:
Indeed. It would add a massive distortion to the property market and ensure even more elderly people end up with oversized properties that they can't afford to maintain. Just look at the effort people went to to avoid a bit of extra stamp duty a few years back.surrey_commuter said:
would hat not make people even less likely to downsize?TheBigBean said:
As above, when downsizing.kingstongraham said:
You'd only pay it when you sold the property then?TheBigBean said:If I ruled, there would be capital gains tax on main residences, but you would be allowed to defer it when buying a new more expensive property.
That is going to be one hell of a downsize.
Whilst I think your idea is madder than all of mine put together I do think one good unintended consequence is that if people added up the true costs of buying, owning and selling property they would stop kidding themselves about how much profit they had made.
You make it sound like it would be very hard when it would be fairly simple. Every time you buy a property the amount of roll over relief would be included.
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And claiming that the amount is large conveniently overlooks the large untaxed profit being made.0
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You'd almost think that some are looking forward to this tax free windfall.The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
I get that is hypothetical but surely you have to deduct stamp duty, estate agents fees, surveys, legal costs, mortgage arrangement fee, mortgage interest plus any remortgage costs, log cabin in garden, extension, new kitchen, painting and decorating, new roof, garden landscaping, cost of a gardener, new boiler, flooring?TheBigBean said:
That's quite a put down!surrey_commuter said:
So you would roll up the capital from each of your properties and then pay it when you downsize?TheBigBean said:
They wouldn't eliminate the CGT liability simply by buying a new property. The base amount would remain as per the purchase of the original property.surrey_commuter said:
Or they could buy a more expensive house and pay no tax, live in it for 5 minutes and sell it for a £1k capital gain and pay £200 tax and upgrade their cabinTheBigBean said:
I struggle to understand this. Imagine someone is sitting on a £1m capital gain. They could sell, spend £300k on a nice warm flat, take £700k in profit less £140k capital gains (£560k of cash for them), then go on an annual cruise and live it up. Or they could be cold, poor and pay £200k capital gains tax when they die anyway.surrey_commuter said:
thinking with the heart and not the headpblakeney said:
I fail to see the logic in struggling financially with an oversized property that could be sold for a profit.rjsterry said:
Indeed. It would add a massive distortion to the property market and ensure even more elderly people end up with oversized properties that they can't afford to maintain. Just look at the effort people went to to avoid a bit of extra stamp duty a few years back.surrey_commuter said:
would hat not make people even less likely to downsize?TheBigBean said:
As above, when downsizing.kingstongraham said:
You'd only pay it when you sold the property then?TheBigBean said:If I ruled, there would be capital gains tax on main residences, but you would be allowed to defer it when buying a new more expensive property.
That is going to be one hell of a downsize.
Whilst I think your idea is madder than all of mine put together I do think one good unintended consequence is that if people added up the true costs of buying, owning and selling property they would stop kidding themselves about how much profit they had made.
You make it sound like it would be very hard when it would be fairly simple. Every time you buy a property the amount of roll over relief would be included.0 -
You just do whatever is done for all other properties I.e. remove the exemption. You're overthinking this.surrey_commuter said:
I get that is hypothetical but surely you have to deduct stamp duty, estate agents fees, surveys, legal costs, mortgage arrangement fee, mortgage interest plus any remortgage costs, log cabin in garden, extension, new kitchen, painting and decorating, new roof, garden landscaping, cost of a gardener, new boiler, flooring?TheBigBean said:
That's quite a put down!surrey_commuter said:
So you would roll up the capital from each of your properties and then pay it when you downsize?TheBigBean said:
They wouldn't eliminate the CGT liability simply by buying a new property. The base amount would remain as per the purchase of the original property.surrey_commuter said:
Or they could buy a more expensive house and pay no tax, live in it for 5 minutes and sell it for a £1k capital gain and pay £200 tax and upgrade their cabinTheBigBean said:
I struggle to understand this. Imagine someone is sitting on a £1m capital gain. They could sell, spend £300k on a nice warm flat, take £700k in profit less £140k capital gains (£560k of cash for them), then go on an annual cruise and live it up. Or they could be cold, poor and pay £200k capital gains tax when they die anyway.surrey_commuter said:
thinking with the heart and not the headpblakeney said:
I fail to see the logic in struggling financially with an oversized property that could be sold for a profit.rjsterry said:
Indeed. It would add a massive distortion to the property market and ensure even more elderly people end up with oversized properties that they can't afford to maintain. Just look at the effort people went to to avoid a bit of extra stamp duty a few years back.surrey_commuter said:
would hat not make people even less likely to downsize?TheBigBean said:
As above, when downsizing.kingstongraham said:
You'd only pay it when you sold the property then?TheBigBean said:If I ruled, there would be capital gains tax on main residences, but you would be allowed to defer it when buying a new more expensive property.
That is going to be one hell of a downsize.
Whilst I think your idea is madder than all of mine put together I do think one good unintended consequence is that if people added up the true costs of buying, owning and selling property they would stop kidding themselves about how much profit they had made.
You make it sound like it would be very hard when it would be fairly simple. Every time you buy a property the amount of roll over relief would be included.0 -
Here are the existing rules on other properties with regard to deductible costs.Deducting costs
You can deduct costs of buying, selling or improving your property from your gain. These include:
estate agents’ and solicitors’ fees
costs of improvement works, for example for an extension - normal maintenance costs like decorating do not count
You cannot deduct certain costs, like interest on a loan to buy your property0 -
What is the UK tax rate on an inheritance amount of cash in the bank? As in, if last parent dies and leaves behind half a mill cash bequeathed to the kids, what tax is deducted, if any?
Open One+ BMC TE29 Seven 622SL On One Scandal Cervelo RS0 -
40% on amounts greater than a limit which is between £325k and £1m.Wheelspinner said:What is the UK tax rate on an inheritance amount of cash in the bank? As in, if last parent dies and leaves behind half a mill cash bequeathed to the kids, what tax is deducted, if any?
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Simple answer in the simple example given is £70k.Wheelspinner said:What is the UK tax rate on an inheritance amount of cash in the bank? As in, if last parent dies and leaves behind half a mill cash bequeathed to the kids, what tax is deducted, if any?
Knock yourself out....
https://www.gov.uk/inheritance-taxThe above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
Which is (potentially) considerably lower than the capital gains tax you’re proposing?TheBigBean said:
40% on amounts greater than a limit which is between £325k and £1m.Wheelspinner said:What is the UK tax rate on an inheritance amount of cash in the bank? As in, if last parent dies and leaves behind half a mill cash bequeathed to the kids, what tax is deducted, if any?
If parents had bought their family home 20 years ago for (say) 75k, and it’s now “worth” 375k and is really the only major asset they have to bequeath, how would your policy not encourage people to stay put in their home till death?
If they sell at 375 now to downsize, you’d be pinging them for (I think) either 18 or 28% of the 300k gain, depending on their income tax rate? Anywhere from about 60 to 100 K in CGT?
If they stay put a few more years till death, value goes up to (say) 425k, and bequeath it to the kids instead, the estate value might well be entirely under the threshold of inheritance tax? Looks like the threshold for inheritance tax may be up to half a million if there’s a house included in the estate “value”.
The kids would not pay the CGT till they sold it, based on gain only above the perceived market value at time they inherited it (425k) not what their parents actually paid (75k).
Your policy still looks to me like a disincentive for parents to sell and downsize.
Or have I screwed up the maths? (Wouldn’t be the first time…)
Open One+ BMC TE29 Seven 622SL On One Scandal Cervelo RS0 -
Your maths may well be correct. It's too late and too many malts to be bothered.
The principle of the proposal was not about mitigating against inheritance tax, it was about people using property as a tax free pension fund. As in selling the big house, buying a small house and living off the proceeds. All very well and good today, but name another investment that comes tax free on collection? I'd like to know.
ISAs are about as close as I can come up with.The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
PS - For the record. Anyone doing this is perfectly safe as long as there is a Conservative government. Keep voting tory.The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
Assuming I'm ruling the world, the CGT would be due on death prior to, and in addition to, inheritance tax. Probably some safeguards for surviving partners, but the liability won't disappear.Wheelspinner said:
Which is (potentially) considerably lower than the capital gains tax you’re proposing?TheBigBean said:
40% on amounts greater than a limit which is between £325k and £1m.Wheelspinner said:What is the UK tax rate on an inheritance amount of cash in the bank? As in, if last parent dies and leaves behind half a mill cash bequeathed to the kids, what tax is deducted, if any?
If parents had bought their family home 20 years ago for (say) 75k, and it’s now “worth” 375k and is really the only major asset they have to bequeath, how would your policy not encourage people to stay put in their home till death?
If they sell at 375 now to downsize, you’d be pinging them for (I think) either 18 or 28% of the 300k gain, depending on their income tax rate? Anywhere from about 60 to 100 K in CGT?
If they stay put a few more years till death, value goes up to (say) 425k, and bequeath it to the kids instead, the estate value might well be entirely under the threshold of inheritance tax? Looks like the threshold for inheritance tax may be up to half a million if there’s a house included in the estate “value”.
The kids would not pay the CGT till they sold it, based on gain only above the perceived market value at time they inherited it (425k) not what their parents actually paid (75k).
Your policy still looks to me like a disincentive for parents to sell and downsize.
Or have I screwed up the maths? (Wouldn’t be the first time…)0 -
I’d have doubts your reign would last long if you implement that policy, but good luck with the campaign.TheBigBean said:
Assuming I'm ruling the world, the CGT would be due on death prior to, and in addition to, inheritance tax. Probably some safeguards for surviving partners, but the liability won't disappear.Wheelspinner said:
Which is (potentially) considerably lower than the capital gains tax you’re proposing?TheBigBean said:
40% on amounts greater than a limit which is between £325k and £1m.Wheelspinner said:What is the UK tax rate on an inheritance amount of cash in the bank? As in, if last parent dies and leaves behind half a mill cash bequeathed to the kids, what tax is deducted, if any?
If parents had bought their family home 20 years ago for (say) 75k, and it’s now “worth” 375k and is really the only major asset they have to bequeath, how would your policy not encourage people to stay put in their home till death?
If they sell at 375 now to downsize, you’d be pinging them for (I think) either 18 or 28% of the 300k gain, depending on their income tax rate? Anywhere from about 60 to 100 K in CGT?
If they stay put a few more years till death, value goes up to (say) 425k, and bequeath it to the kids instead, the estate value might well be entirely under the threshold of inheritance tax? Looks like the threshold for inheritance tax may be up to half a million if there’s a house included in the estate “value”.
The kids would not pay the CGT till they sold it, based on gain only above the perceived market value at time they inherited it (425k) not what their parents actually paid (75k).
Your policy still looks to me like a disincentive for parents to sell and downsize.
Or have I screwed up the maths? (Wouldn’t be the first time…)
Open One+ BMC TE29 Seven 622SL On One Scandal Cervelo RS0 -
Undoubtedly true.Wheelspinner said:
I’d have doubts your reign would last long if you implement that policy, but good luck with the campaign.TheBigBean said:
Assuming I'm ruling the world, the CGT would be due on death prior to, and in addition to, inheritance tax. Probably some safeguards for surviving partners, but the liability won't disappear.Wheelspinner said:
Which is (potentially) considerably lower than the capital gains tax you’re proposing?TheBigBean said:
40% on amounts greater than a limit which is between £325k and £1m.Wheelspinner said:What is the UK tax rate on an inheritance amount of cash in the bank? As in, if last parent dies and leaves behind half a mill cash bequeathed to the kids, what tax is deducted, if any?
If parents had bought their family home 20 years ago for (say) 75k, and it’s now “worth” 375k and is really the only major asset they have to bequeath, how would your policy not encourage people to stay put in their home till death?
If they sell at 375 now to downsize, you’d be pinging them for (I think) either 18 or 28% of the 300k gain, depending on their income tax rate? Anywhere from about 60 to 100 K in CGT?
If they stay put a few more years till death, value goes up to (say) 425k, and bequeath it to the kids instead, the estate value might well be entirely under the threshold of inheritance tax? Looks like the threshold for inheritance tax may be up to half a million if there’s a house included in the estate “value”.
The kids would not pay the CGT till they sold it, based on gain only above the perceived market value at time they inherited it (425k) not what their parents actually paid (75k).
Your policy still looks to me like a disincentive for parents to sell and downsize.
Or have I screwed up the maths? (Wouldn’t be the first time…)0 -
Hardly anyone would consider his policy when voting as it doesn't affect them day to day. Adding 1p on income tax or NI would probably make them pay more attention and the current Government is already increasing NI.Wheelspinner said:
I’d have doubts your reign would last long if you implement that policy, but good luck with the campaign.TheBigBean said:
Assuming I'm ruling the world, the CGT would be due on death prior to, and in addition to, inheritance tax. Probably some safeguards for surviving partners, but the liability won't disappear.Wheelspinner said:
Which is (potentially) considerably lower than the capital gains tax you’re proposing?TheBigBean said:
40% on amounts greater than a limit which is between £325k and £1m.Wheelspinner said:What is the UK tax rate on an inheritance amount of cash in the bank? As in, if last parent dies and leaves behind half a mill cash bequeathed to the kids, what tax is deducted, if any?
If parents had bought their family home 20 years ago for (say) 75k, and it’s now “worth” 375k and is really the only major asset they have to bequeath, how would your policy not encourage people to stay put in their home till death?
If they sell at 375 now to downsize, you’d be pinging them for (I think) either 18 or 28% of the 300k gain, depending on their income tax rate? Anywhere from about 60 to 100 K in CGT?
If they stay put a few more years till death, value goes up to (say) 425k, and bequeath it to the kids instead, the estate value might well be entirely under the threshold of inheritance tax? Looks like the threshold for inheritance tax may be up to half a million if there’s a house included in the estate “value”.
The kids would not pay the CGT till they sold it, based on gain only above the perceived market value at time they inherited it (425k) not what their parents actually paid (75k).
Your policy still looks to me like a disincentive for parents to sell and downsize.
Or have I screwed up the maths? (Wouldn’t be the first time…)0 -
I wasn't thinking so much of his chances at the polling booths per se. More that during his reign he should avoid areas near a grassy knoll, or any photo ops at construction sites when they're pouring foundations... :-)Pross said:
Hardly anyone would consider his policy when voting as it doesn't affect them day to day. Adding 1p on income tax or NI would probably make them pay more attention and the current Government is already increasing NI.Wheelspinner said:
I’d have doubts your reign would last long if you implement that policy, but good luck with the campaign.TheBigBean said:
Assuming I'm ruling the world, the CGT would be due on death prior to, and in addition to, inheritance tax. Probably some safeguards for surviving partners, but the liability won't disappear.Wheelspinner said:
Which is (potentially) considerably lower than the capital gains tax you’re proposing?TheBigBean said:
40% on amounts greater than a limit which is between £325k and £1m.Wheelspinner said:What is the UK tax rate on an inheritance amount of cash in the bank? As in, if last parent dies and leaves behind half a mill cash bequeathed to the kids, what tax is deducted, if any?
If parents had bought their family home 20 years ago for (say) 75k, and it’s now “worth” 375k and is really the only major asset they have to bequeath, how would your policy not encourage people to stay put in their home till death?
If they sell at 375 now to downsize, you’d be pinging them for (I think) either 18 or 28% of the 300k gain, depending on their income tax rate? Anywhere from about 60 to 100 K in CGT?
If they stay put a few more years till death, value goes up to (say) 425k, and bequeath it to the kids instead, the estate value might well be entirely under the threshold of inheritance tax? Looks like the threshold for inheritance tax may be up to half a million if there’s a house included in the estate “value”.
The kids would not pay the CGT till they sold it, based on gain only above the perceived market value at time they inherited it (425k) not what their parents actually paid (75k).
Your policy still looks to me like a disincentive for parents to sell and downsize.
Or have I screwed up the maths? (Wouldn’t be the first time…)Open One+ BMC TE29 Seven 622SL On One Scandal Cervelo RS0 -
Fairly sure my views on inheritance tax would dwarf my views on CGT in terms of unelectability.0
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I don't think they should but you know people already go out of the way to avoid property taxes.TheBigBean said:
What downside do you see? The concept isn't wild e.g. rollover relief already exists for business for some assets.rjsterry said:
I'm sure allowing someone to deduct the cost of their next home from their capital gains would have absolutely no unintended consequences 😊.TheBigBean said:
I struggle to understand this. Imagine someone is sitting on a £1m capital gain. They could sell, spend £300k on a nice warm flat, take £700k in profit less £140k capital gains (£560k of cash for them), then go on an annual cruise and live it up. Or they could be cold, poor and pay £200k capital gains tax when they die anyway.surrey_commuter said:
thinking with the heart and not the headpblakeney said:
I fail to see the logic in struggling financially with an oversized property that could be sold for a profit.rjsterry said:
Indeed. It would add a massive distortion to the property market and ensure even more elderly people end up with oversized properties that they can't afford to maintain. Just look at the effort people went to to avoid a bit of extra stamp duty a few years back.surrey_commuter said:
would hat not make people even less likely to downsize?TheBigBean said:
As above, when downsizing.kingstongraham said:
You'd only pay it when you sold the property then?TheBigBean said:If I ruled, there would be capital gains tax on main residences, but you would be allowed to defer it when buying a new more expensive property.
I just don't understand why someone should be able to receive a vast amount of money tax free.1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
Never fear, negative yielding treasury bills.
SC should be pleased0 -
not my area of specialised knowledge, I didn't even know one month wa a thing.rick_chasey said:
Never fear, negative yielding treasury bills.
SC should be pleased
Are people buying that to speculate or is it companies needing to keep tens of millions somewhere for a month and don't trust banks to still be there?0 -
Basically this. Banks don't want that sort of business anymore in the post GFC regulation.surrey_commuter said:or is it companies needing to keep tens of millions somewhere for a month and don't trust banks to still be there?
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Inflation currently being reported at 5.1%.focuszing723 said:All eyes turn to the Bank of England which will consider next week whether to raise the base rate.
Some mortgage lenders have raised their interest rates slightly, after a period of intense competition and ultra-low costs for borrowers.
Official forecasters say the biggest mortgage rate rises will be in 2023.
The Office for Budget Responsibility (OBR) - the government's official, independent forecaster - said inflation (which measures the cost of living) was likely to speed up to 4% next year.
In response, it predicted a rise in the Bank rate next year, and the year after, from its current record low of 0.1%. It said the Bank rate would not be expected to breach the 1% mark, although it could go as high as 3.5% if inflation went above 5%.
https://www.bbc.co.uk/news/business-59091003
https://www.bbc.co.uk/news/business-59663947The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
Real wages falling. So much for rebirth of bargaining power.
With corona and lack of demand driving inflation (its supply side) boe has its hands tied0 -
RPI is 7.1%.
No one could have foreseen this.0
