Thursday, 16 October 2014

YPP meet-up Friday 17 October

Only three of us last week, not to worry, onwards and upwards.

Usual haunt, Brewmaster Pub near Leicester Square Tube station, alleyway at the back, tomorrow from 5.20-ish.

To discuss: Rochester by-election and Gareth's do at Henry George Foundation on Saturday 18 October.

Monday, 13 October 2014

Reader's Letter Of The Day

From todays Evening Standard (page 55):

Stamp Duty needs to be rethought entirely. It damages labour mobility and discourages pensioners from downsizing, reducing the supply of family housing among other ills.

A much fairer and efficient way to collect from the currently untaxed and unearned housing riches is via unavoidable annual taxes such as council tax. Unlike equivalent taxes in many of our peer cities around the world, [the value taken into account in calculating the tax] is currently capped at the equivalent of about £1 million in today's values.

At a time when people earning £10,001 incur a marginal tax rate of 32% in income tax and national insurance, I find it morally questionable to leave annual property taxes untouched.

Is this politically difficult? Most Londoners rent and have no realistic chance of living in a multi-million-pound-house. The middle classes have nothing to fear from higher property taxes and everything to fear from further increases [in taxes] on their earning power.

The asset-rich, cash-poor who do not wish to downsize can be accommodated by a roll up, which even over 30 years will only equate to the last five years' unearned capital gains.

All the better if extra council tax is kept in London: a big boost to local democracy.

Joe Momberg, Young People's Party.


See also the excellent, fact-filled article by Ben Chu (page 44) which says much the same thing.

This is what we are up against...

Spotted by Ben W at thebureauinvestigates:

On February 5 Tory and Labour MPs complained in the Commons that London’s housing market was “being turned into a Klondike for wealthy foreigners” with “less than 10% of available properties for sale … affordable to a [family] on average wages” and tenants forced to pay “extortionate rents”.

A few hours later the then housing minister sat down to dine with one of central London’s largest residential landlords and two other men whose companies operate in the top end of the London property market.

According to a seating plan for the Tory annual winter fundraiser, which has been analysed by the Bureau, they were amongst 50 attendees with links to the property industry, representing almost 10% of the total guests listed on the seating plan.

Two wealthy property tycoons and one of London’s biggest hereditary landowners are listed on the same table as David and Samantha Cameron…

In the past two years property companies donating for the first time have contributed more than £800,000 to Tory coffers. In addition some long-term supporters from the property sector have increased their donations.

Thursday, 9 October 2014

YPP meet-up, Friday 10 October

A good turnout last week, six regulars and a new face.

Usual haunt, Brewmaster Pub near Leicester Square Tube station, alleyway at the back, tomorrow from 5.20-ish.

To discuss: Rochester by-election and the app.

Thursday, 2 October 2014

YPP meet up, Friday 3 October

Sorry I couldn't make the last two weeks, family stuff, work stuff.

Usual haunt, Brewmaster Pub near Leicester Square Tube station, alleyway at the back, tomorrow from 5.20-ish.

To discuss: Rochester by-election and the app.

Friday, 5 September 2014

Reader's Letter Of The Day

From The Evening Standard (5 September, page 56):
 
It was the postwar policy package of rent controls, higher property taxes  and easily available council housing that enabled Lammy's parents to buy a house for £6,000. It was inevitable that house prices and rents would rocket after Thatcher and Blair dismantled and reversed this.
 
There's much to welcome in Lammy's housing plans. If anything he is too timid. Why not cap private sector rents at 20 per cent below current levels rather than 20 per cent higher, saving billions in Housing Benefit and easing the strain on working tenants.
 
Mark Wadsworth, Young People's Party

Thursday, 28 August 2014

YPP Friday meet-up, 29 August

We had a good turnout two weeks ago; five members and two interested.

I can't make it tomorrow (family outing) but you can co-ordinate with each other in the comments to this post.

Our usual haunt is the Brewmaster pub near Leicester Square Tube station, tomorrow from 5.20-ish.