Thursday, 25 April 2013

They own land! Give them money!

From the FT:
 
Buy-to-let landlords could be the biggest beneficiaries of the Bank of England's expanded Funding for Lending Scheme, providing another state-backed fillip to the property market. The BoE gave the go-ahead on Wednesday for banks tapping its new funding mechanism for small- and medium-sized businesses to be allowed to lend the money on to property investors...
 
Landlords have already benefited under the existing FLS as banks and building societies have passed on lower borrowing costs. The average buy-to-let rate has fallen from 5.09 per cent in August, when the FLS was launched, to 4.28 per cent today, according to figures from Moneyfacts, the financial data provider. This helped push buy-to-let lending up 19 per cent [of all new lending] last year, with the number of buy-to-let mortgages reaching its highest level in four years.
 
So that's the landlords sorted, and how much are the banks paying for the benefit of these taxpayer-backed loans?
 
From City AM:
 
WHAT FUNDING IS ON OFFER TO BANKS?
 
■ Banks and building societies can now access ultra-cheap funds from the Bank of England until January 2015 – an extra year on the previous setup
 
■ For institutions expanding their lending, the funds cost just 0.25 percentage points per year
 
■ Those reducing lending have to pay more, on a sliding scale up to a maximum of 1.5 percentage points per year
 
■ Funds provided under the scheme then last for four years.

Saturday, 13 April 2013

All politics is local politics

I'm drafting my own leaflet for the county council elections, and Rule One is read the competition's leaflets first.

Somebody standing for the local residents' association delivered a leaflet today which includes the following NIMBY gold:

• We know that weak representation has resulted in Buckhurst Hill being forced to accommodate many more flats and housing - worsening our infrastructure problems.

• LRA opposed construction of huge car parks beyond Debden (suggested by a Conservative County Cllr) on the already over-capactiy Central Line - which would mean YOU would never get a seat.

• Remember: LRA fights to keep and improve our attractive greens and open spaces...

We've much to protect in this lovely area from our open spaces to our vibrant shops. I've four grandchildren and walk my dogs in the Forest daily. I was 25 years at Epping Forest College, now I'm an Ofsted Inspector.


Or to translate that into English:

• The hundreds of people who live in the few new homes which have been built over the past few years can fuck off and those homes should be demolished. Only homes as old as mine or older should be allowed to stand.

• I'll campaign for the car park near our local stations to be closed down so that people who want to get on the train at the next few stations are more likely to get a seat.

• We are a grass and tree-based economy. People don't matter. In fact the fewer of them the better...

We've much to protect in this lovely area from our open spaces to our failing shops (there not being enough customers or young people prepared to work in them for low wages). I've four grandchildren and walk my dogs in the Forest daily. They need somewhere to shit more than you need a home. I've worked for the government all my life.

Monday, 1 April 2013

My election campaign so far

I was pretty lucky this afternoon, I spent an hour or so knocking on doors and eight people were kind enough to sign my nomination form (the first two to sign were me and Mrs W, makes ten in total). I checked them against the electoral roll and they are registered to vote which saves me going out in the cold again.

Now I just need to work out what sort of leafletting or advertising to do.