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Green Finger on the Pulse

Community Veteran
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Registered: 12-08-2007

Green Finger on the Pulse

Anyone thinking of voting Green should really listen to this interview. it says it all about them IMO.
Radio Interview
It would have been funny had it not been so serious.
13 REPLIES
Community Veteran
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Registered: 23-09-2010

Re: Green Finger on the Pulse

Problem is with most parties, in the end it's all guestimates and pie in the sky.
Though, after reading this, I'll concede that some parties are more heavy on the pie in the sky.
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Re: Green Finger on the Pulse

Ouch!...that was painful listening.
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Re: Green Finger on the Pulse

Speaking as a private landlord I didn't recognise myself in her description. Won't be voting Green then  Lips are sealed
Pity because I worked for seven years in renewables and energy policy. But this party is nothing to do with true green issues. It's a rabid lefty party. Watermelons green on the outside red in the core  Grin Grin
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To be is to do - Kant
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Community Veteran
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Registered: 12-08-2007

Re: Green Finger on the Pulse

Apparently she's giving interviews all day today. Hopefully she might get her act in order by the end of the day Wink
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Re: Green Finger on the Pulse

Would be more of a vote winner if she had suggested tax relief on mortgage interests for owner buyers.
It's an uneven playing field for home owners.
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Re: Green Finger on the Pulse

Despite their proposals some polls  according to press reports estimate they might get up to 8% of the total number of votes.
Quite scary, how can anyone who reads their manifesto and listens to a broadcast like this vote for them.
Perhaps they should merge with The Monster Raving  Lxxxxxx. Party.
NB. Not sure if the L word  can still be used  these days.
Smiley
nanotm
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Re: Green Finger on the Pulse

how can you scrap tax relief on loans for one type of business but not get rid of it for the remainder ?
its a broadly stupid policy that should never have made it past the sanity check /

@GE
indeed I often thought that the greens were only different in name to the loony party, certainly a lot of there policies ideas are similar in that they are clearly pie in the sky wishful thinking .....
just because your paranoid doesn't mean they aren't out to get you
itsme
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Re: Green Finger on the Pulse

For the majority of buy to rent it's an investment not a business. So why should they get tax relief to invest? If I buy shares will the tax payer pick up 20% of the cost for me?
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Re: Green Finger on the Pulse

So it seems some people think that if a company borrows money to fund expansion/repairs there should be no tax relief on the interest payments on the loan? Note corporation tax is not paid on operational costs, otherwise  the companies could pay corporation tax on salaries, power etc.  These people seem to think if a company borrows money to buy property for rental there should be no (corporation) tax relief on the interest paid. If it becomes unprofitable to buy and rent property what do they think will happen to the property rental business? It would be one of two things; either rents would rise to compensate for the loss of tax relief or people will not offer rented properties leading to a shortage of rental properties and consequent supply/demand rent increases.
In effect the tax relief on buy to let is a Government subsidy on the private rental market. Removal of such relief would not only affect private landlords (in black capes and black hats) but housing associations as well.
Now Zen, but a +Net residue.
Community Veteran
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Re: Green Finger on the Pulse

A few landlords who telephoned the programme after her interview said she totally misrepresented  the tax case. We have a number of Buy to Rent landlords on the forum. Maybe they can explain it for us.
Community Veteran
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Re: Green Finger on the Pulse

here's another interview that goes wrong Smiley
Interview
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Re: Green Finger on the Pulse

@artmo so in theory I am a buy for let landlord but in truth I am a pensioner. The conventional wisdom is that when you start drawing you pension you should use low risk investments like annuities and cash deposits (earning a decent rate of interest ). But Gordon Brown screwed Occupatioal Pensions and Private Pension returns have been falling over the years.
So my portfolio is based on historic defined benefit schemes and annuities but most recently share based investments and buy for lets.
I shouldn't have to risk my pension pot but with QE and and other misguided government policies I and many like myself are forced down this route. I think the Conservatives realise how important this investment route is to small investors (we are not predatory landlords but provide a useful service). But Labour and obviously the Greens are just scoring political points  Angry
To do is to be - Neitzsche
To be is to do - Kant
do be do be do - Sinatra
nanotm
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Re: Green Finger on the Pulse

Quote from: itsme
For the majority of buy to rent it's an investment not a business. So why should they get tax relief to invest? If I buy shares will the tax payer pick up 20% of the cost for me?


its a business no matter how you view it, it makes no difference if I arrange a buy to let mortgage on 1 property or if I have a mixture of buy to let mortgage and wholly owned properties for rent, I would still be a landlord which the tax man considers as an occupation regardless of wither I make oodles of cash or if I make an operating loss on the venture....
tax relief for business expansion has long be utilised as a method for stimulating the economy and encouraging growth, in this sector of the economy that happens to be encouraging people with spare cash to help out hose less fortunate, it has the unhappy side effect of raising overall purchase prices but at the same time it ensures that there are a minimal number of empty properties whilst there are homeless people desperate to find somewhere to live, a much better policy would of been to penalise anyone who has more than one property (triple taxation) that don't have occupants in them (exclusions for refurbishments and new builds of 12 months and publicly rented holiday properties)
this would  certainly pay dividends in terms of boosting the countries coffers and encouraging less hoarding unless you can actually afford it (within 50 miles of me there are apparently 500 4+ bedroom properties that are granted tax relief as they are unoccupied for most the week yet this area has several hundred families in emergency accommodation waiting for a property to become available)
removing tax relief from landlords would exacerbate this problem as more out of area rich people buy the "nice country property" and force up house prices past the point of affordability for any landlords or normal working family buyers ....
just because your paranoid doesn't mean they aren't out to get you