National Politics 🔴 The Labour Party

[Essexyellows]

Gilt yields soar to near 30-year high

UK government borrowing costs soared on Thursday, after 30-year gilt yields hit their highest level since the late 1990s.

www.sharecast.com

"Thirty-year bond yields rose as much as 6.029%, the highest since January 1998, while benchmark 10-year gilt yields were up 8 basis points at 5.510%, the highest since July 2007. That in turn weighed heavily on equities, and by 1145 BST, the FTSE 100 had tumbled 1% to 10,478.31."

Under Liz Truss thirty year yields were 5.62%

Where are the ones who voted for #change?

Bet they thought it was for the better...........

 

[chuckbert]

This is true and a raft of reasons a lot of B2L landlords are baling out, which in turn leads to fewer rental properties, driving higher rents that folk struggle to afford without even thinking about saving a deposit to escape it.

Around these parts a decently renovated 3 bed ex council semi will set you back £1,500- £1,800 a month in rent.

Cost to buy one, if you are fast, around £260/£280k.

Depending on mortgage payments/deposit etc you aren`t getting rich off that.

You’re not getting rich as in immediate passive income, but in under 20 years you’ll have a free house which you can either sell or continue to rent out for mostly profit. …

 

[Peterdev]

You’re not getting rich as in immediate passive income, but in under 20 years you’ll have a free house which you can either sell or continue to rent out for mostly profit. …

That does depend whether on whether you have a fixed rate mortgage. Also whether property increases in value over time. There is of course no guarantee in that.

 

[Village-Yellow]

…

That does depend whether on whether you have a fixed rate mortgage. Also whether property increases in value over time. There is of course no guarantee in that.

If you are looking at a 20-25 year timeline, I think we can all agree that inflation will see to it property prices will go up and an interest only mortgage will still be much lower in relative terms as inflation diminishes the liability.

It is what happens in between that can cause the problems.

 

[Ox4Eva]

Generations of my family voted labour when it was party for the working class.

It's not been that for at least 30 years, now it actively works against the normal working class people of this country.

Now its home for those who despise the working class and this country!

Wouldn't vote for these if my life depended on it!

 

[Peterdev]

Generations of my family voted labour when it was party for the working class.

It's not been that for at least 30 years, now it actively works against the normal working class people of this country.

Now its home for those who despise the working class and this country!

Wouldn't vote for these if my life depended on it!

Difficult to know where to go
Labour penalize the workers to help the shirkers. They also borrow when the money isn’t there.
The Conservatives are more into profits for the companies.
The Liberals try and adopt populist ideas that wouldn’t work or are not costed

 

[Matty Greens Left Boot]

Generations of my family voted labour when it was party for the working class.

It's not been that for at least 30 years, now it actively works against the normal working class people of this country.

Now its home for those who despise the working class and this country!

Wouldn't vote for these if my life depended on it!

This is me and many people i knows opinion too my grandfather was a union rep when labour stood up for the working classes that worked hard to improve themselves. Now people who work hard are penalized taxed harder and more importantly the benefits to working are being eroded. I genuinely think that everyone needs a bit of stick and a bit of carrot in life to succeed what we are doing now via the welfare system is removing the stick. The times when i have grown most as a person are during times of suffering times when the stick was dominant rather than the carrot. Times when i said yes that time in my life was horrible i dont want to go back to that how can i make myself succeed so this doesn't happen again. We dont need workhouses for the poor what we do need is less of a safety net and more incentives to succeed and the current UC system doesn't do that. If that was reformed by removing safety nets then i doubt as many would risk their lives to cross the channel. The safety net is also literal in this point in the RNLI.

 

[Matty Greens Left Boot]

Some of the marginal rates on UC are ridiculous. This could either be because US is too generous of the tapers to severe. Ive seen it first hand with people salary sacrificing 5 k into a bike just to avoid a UC taper 40k into the pension too. They are quite open about it too. The government sets silly rules its up to the individual to play by the rules and max it out for their benefit. I absolutely don't hate the players. Hate the game.

 

[chuckbert]

This is me and many people i knows opinion too my grandfather was a union rep when labour stood up for the working classes that worked hard to improve themselves. Now people who work hard are penalized taxed harder and more importantly the benefits to working are being eroded. I genuinely think that everyone needs a bit of stick and a bit of carrot in life to succeed what we are doing now via the welfare system is removing the stick. The times when i have grown most as a person are during times of suffering times when the stick was dominant rather than the carrot. Times when i said yes that time in my life was horrible i dont want to go back to that how can i make myself succeed so this doesn't happen again. We dont need workhouses for the poor what we do need is less of a safety net and more incentives to succeed and the current UC system doesn't do that. If that was reformed by removing safety nets then i doubt as many would risk their lives to cross the channel. The safety net is also literal in this point in the RNLI.

That Labour Party believed in taxing the rich to spend for everyone. It seems that no one wants that any more, and are petrified of taxing the rich.

 

[Ox4Eva]

Difficult to know where to go
Labour penalize the workers to help the shirkers. They also borrow when the money isn’t there.
The Conservatives are more into profits for the companies.
The Liberals try and adopt populist ideas that wouldn’t work or are not costed

To be honest I cannot stand ANY politicians no matter what rosette they wear!

 

[Ox4Eva]

This is me and many people i knows opinion too my grandfather was a union rep when labour stood up for the working classes that worked hard to improve themselves. Now people who work hard are penalized taxed harder and more importantly the benefits to working are being eroded. I genuinely think that everyone needs a bit of stick and a bit of carrot in life to succeed what we are doing now via the welfare system is removing the stick. The times when i have grown most as a person are during times of suffering times when the stick was dominant rather than the carrot. Times when i said yes that time in my life was horrible i dont want to go back to that how can i make myself succeed so this doesn't happen again. We dont need workhouses for the poor what we do need is less of a safety net and more incentives to succeed and the current UC system doesn't do that. If that was reformed by removing safety nets then i doubt as many would risk their lives to cross the channel. The safety net is also literal in this point in the RNLI.

Yep, my old fella was a union shop steward and all my family were labour to the core.

But not one of my family was a commie, they were hard working folk.

Labour has been controlled by marxists and elitist toffs for years now..

 

[Matty Greens Left Boot]

View attachment 38049

You see I could get behind this. I have previously voted Corbyn so this wouldnt be a surprise however the devil is in the detail.

I was a reluctant leaver i wish our government had behaved like the eastern block countries over Europe. Pick and choose which parts to implement and ignore the fines. A closer tie with Europe is fine by me its a return to freedom of movement which is what most of the trouble was about. That deal Cameron brought back from his meeting with Tusk was absolutely laughable and he would have been better off saying he was going to just ignore the current rules.

I dont like our current voting system so removing FPTP tied to a constituency would be better for me.

Monopolies like energy transmission and water and railways should be in public ownership. Broadband yep maybe same as electricity generation could remain out there but national grid and DNO's should be publically owned.

The tripple lock needs to go and care needs reform. Its not cost effective and average withdrawal rates are too big compared to the average input rate (not even accounting for the ponzi way it is currently set up) I like universal benefits it allows people to flex up if they can afford it so NHS, National Care service, pensions you can top up, free universal education all are good.

United Ireland again no issue with i will happily cut away parts of the UK that take more in funding than they recieve. We would need to get Ireland to actually want to fund owning NI though. Likewise i support Scottish independence their high MP per constituent count means they move westminster to the left even though england is more conservative. I would happily wave them on their way in their socialist utopia.

I dont believe they want to stop the small boats everyone thinks they are bad but i dont believe politically the alternatives can work. People arent yet ready to vote for a navy in the channel approach likewise they arent prepare to accept the routes like has been announced for Afghan and Palestinian women. I cant see a politically palatable way yet forward. Their one in one out scheme with france has failed this week loads of money spent with little success.

 

[Whingit]

The right when it comes to defending the union:

 

[Matty Greens Left Boot]

That Labour Party believed in taxing the rich to spend for everyone. It seems that no one wants that any more, and are petrified of taxing the rich.

I'm not a fan of taxing the rich just because they are rich per say i am a massive fan of taxing the dead and we all die sometime. There is no level of inheritance tax i wouldnt support. I have more of an issue with someone earning 100k a year from family trust fund from unearned work than a self made millionaire who has put in the hard graft to get there. For me its quite conceivable that the former should be taxed more than the latter. However the millionaires son should not be extended the same privileges as his inheritance would be unearned by him.

 

[chuckbert]

I'm not a fan of taxing the rich just because they are rich per say

Sure, but that makes you part of the difference from the old union Labour days that you described.

 

[Swaby39]

That Labour Party believed in taxing the rich to spend for everyone. It seems that no one wants that any more, and are petrified of taxing the rich.

The rich are already taxed. Heavily.

They’d legitimately suggest people are more “petrified” of making things uncomfortable for people unnecessarily feeding off their efforts.

Taxes have risen. Welfare obligations have also risen. So who are they more afraid of?

FWIW I don’t think many British people regardless of bank balance are winning under Labour.

 

[Peterdev]

Something Labour should consider.
If they plan to remove the triple lock, fine but then increase the tax threshold from its present £12570 to £15000
And also tax universal credit. There’s too many sitting at home collecting a big wedge for not working. At least tax them and use the money and apply it to something useful for everyone

 

[SteMerritt]

And also tax universal credit.

Forgive me for a dim question, but surely if you are going to 'tax' universal credit, which is a government handout, surely you can do the same thing by either freezing the value over a number of years and letting it's value fall in real terms, or if you want to do it instantly just reduce it? Putting it through the tax system is surely just adding a level of complexity that isn't required?

 

[Peterdev]

Forgive me for a dim question, but surely if you are going to 'tax' universal credit, which is a government handout, surely you can do the same thing by either freezing the value over a number of years and letting it's value fall in real terms, or if you want to do it instantly just reduce it? Putting it through the tax system is surely just adding a level of complexity that isn't required?

There needs to be fairness as pensions are taxed and benefits aren’t, maybe the government is working on this to reduce the deficit we currently have.

 

[Essexyellows]

Polanski wants a 3 year "triple lock freeze" on PRIVATE rental prices.

That will really help .................

Zack - "You can only rent your house out for £1,000 a month."
LL - "The mortgage is that"
Zack - "Suck it up".
LL - "I`ll sell it before you get near power".

 

[Whingit]

It is kind of a unique UK thing where property is seen as something to make money out of. Similar to cars being a wealth indicator rather than a utilitarian thing that's used from getting from a to b.

 

[Essexyellows]

It is kind of a unique UK thing where property is seen as something to make money out of. Similar to cars being a wealth indicator rather than a utilitarian thing that's used from getting from a to b.

Probably because property rarely loses value and keeps the whole ponzi scheme going.

More people = more houses = more sales/more landlords.

One of our local new build firms target a house going from footings in to being sold in 12 weeks, once they clear enough on the site section they are on they buy the next bit of land and so on.................albeit the build quality is shocking.

 

[Marked Ox]

Difficult to know where to go
Labour penalize the workers to help the shirkers. They also borrow when the money isn’t there.
The Conservatives are more into profits for the companies.
The Liberals try and adopt populist ideas that wouldn’t work or are not costed

Are you suggesting the Tories don't?

Also, all the others have adopted populist ideas, not just the Lib Dems whilst Reform are a contradiction in that they are populist Party claiming to be anti-establishment whilst being as establishment as you can get.

 

[Londox]

It's not a matter of if the economies of France Germany and the UK collapse. It's a matter of when.

If you blame "the rich" for everything and make your cities crime-ridden don't be surprised when they leave high tax cities for new shores.

The end times are coming.