Bank Of England Predicts House Price Fall

August 8, 2016

The Bank of England introduced four measures last week aimed at mitigating the negative economic effects of the referendum result.  The headline grabbing cut in the Bank of England base rate from 0.5% to 0.25% is the first since 2009.  This will have a marginal effect on borrowing costs, but the bank is determined that lenders will pass it on and is providing them with £100 billion called ‘term funding’ provided they do pass on the cut to encourage them to lend.  The bank hopes that a reduction in interest rates will encourage [...]

The End Of The Labour Party

Seeing Jeremy Corbyn and Owen Smith debating at Cardiff last week has left me pretty certain that the Labour Party as we know it is coming to an end.  Some of the current Labour leader’s policies – like his ambition to build 120,000 council houses per annum – are laudable, others like his opposition to Trident and confirmation that as Prime Minister he would never press the nuclear button owe more to dogma and poor advice.
A recent YouGov poll has shown the Tories have a 14 point lead over Labour, confirming most commentators [...]

After Brexit

July 31, 2016

At just over five weeks since the EU referendum, the Westminster village has calmed and one or two senior political figures have even gone on holiday.  A long way from the panorama of hourly breaking news headlines and a stream of political shocks.  I’ve just re-read a blog I wrote called ‘The Mess We’re In’ which included comment on the Conservative leadership contest.  By the time [...]

Goodbye EU, Goodbye Scotland

June 24, 2016

I thought I was a lukewarm Remain voter, but today I am gutted.  The most sobering image of the day so far is Nigel Farage declaring a new dawn.  As I walked to my local café in Hackney, the atmosphere is one of shock: our borough returned the second highest vote for Remain in the UK.  Friends in Spain texted me ‘mala noticia’ though one of them is ready to pounce on cheap equities.  The FTSE was down 7% at the start of the day, but it had climbed nearly 10% in the [...]

Fight Back

June 18, 2016

It is nearly a year since the Summer budget when Osborne announced the first raft of punishing tax changes for the UK’s 1.7 million landlords, only to be compounded by yet more in the Autumn statement.  After much gloom had descended on the landlord community and many resolve to sell up, it was with so fantastic last week to hear the news that the Court of Appeal ruled that West Bromwich building society was not entitled to arbitrarily hike mortgage interest rates for landlords.  The result of this court action has surprised many [...]