Charlie and Stig discuss the budget

[@oneeleven9832]

Hate to be a doom monger but in my opinion we are watching the downfall of western society in real time…get out of debt, get your currency out of banks & own real stuff.

[@user-vq2bj4in1r]

Good idea. Of course houses are an example of real stuff that people are buying as a "doom hedge" which is one of many reasons they are unlikely to fall much - especially in nominal terms.

[@christistruth3112]

agreed

[@mattdevenish83]

I’m using my British Pasos to buy a Lambo

[@venaedirie6314]

You are spot on real assets need to include gold and silver which can't bankrupt and has no counterparty risk

[@khtan585]

Not if Macron put up his military as "blustered" against the Russian's continuing march towards Odessa 😢😮......

[@jzw2195]

There will never be enough social housing if the current government policies are not changed.

[@jazzey69]

A Forensic audit is is now needed for all city and shire Councils ..NOW !!!

[@user-eg7nt1bn1u]

The reduction on capital gains tax when selling multiple properties must mean that Mrs Hunt and Mrs Martin Lewis are going to be selling their property portfolios before they fall into negative equity.

[@user-gz6tx6yp3v]

The things you are discussing are exactly the problems we have in the house building industry. People just expect us to just build on land we hold, but much of that land doesn't have any infrastructure anywhere near it. Then we get accused of land banking, or purposely slowing down house building to sell for higher prices. We don't sit around in board meetings trying to figure out how we can build less houses, quite the opposite. And, people probably don't even know this, there is a cap on profit margins by councils as they assess our sites, costs, land values, GDV and the more profit on the table, the more they take in S106 and CIL. As a rule they allow between a 20% and 25% "reasonable" profit and often they undervalue build costs and land costs because it is not in their interest to leave money on the table. If they want to sort out house prices, give us something to work with! Improve the supply of materials into the UK at a lower cost, if we can go on a house building bonanza the cost of materials would rocket Improve the supply of labour who are constantly demanding higher and higher pay Build infrastructure, we need connecting road networks, water, power, sewage so we can actually build towns again. Sort out the planning system, maximum 6 months or immediate referral to central committee with a CIL payment penalty in favour of the house builder. Incentivise the council to move quickly with penalties if they don't. There is zero accountability for the lack of progress which is the biggest issue we have. Set CIL payments and S106 to GDV nationwide, excluding sites under 50 homes which will help reduce prices to the consumer by as much as 9%. We want to build, at lower prices which means higher volume, we make more money. Period. Lower house prices are a win win for us all, even those developing houses, but the government needs to act and I'm not convinced for whatever reason the will is there, or will ever be there because we all know the solutions, they are just not interested.

[@christistruth3112]

we dunt want more building..we are losing all our countryside

[@jasoncloner4816]

I suspect that the 100 million gbp a month on housing, bankrupting councils, will be beneficial in the long run, as it will force the government to stop immigration, which is what the people want. BTW, I emigrated out yesterday.

[@sfm5086]

So landlords are incentivised further to sell up (and they are doing anyway) before section21 is removed with a tiny reduction in CGT, thus evicting yet more Renters and dumping them in Emergency Temp Accommodation (which is drowning Councils). Wow, the Tories really hate Tenants as well as Landlords. Bravo 👏 👏 👏 just Bravo 👏

[@paulmcintyre5444]

Gov has no money

[@topboychris104]

The NHS are using Palantir now so they should be able to do it.

[@stephengreen8986]

Airbnb is currently propping up housing. I met lots of tenants paying say £60 a night because they can't find rental accommodation. It's really bad and I think a lot of people will be forced to buy. Concerning.

[@change2023now]

@14:32..." lambo landlords" "....& I don't give F. About them!" Can't agree with you more Stiggy! 💯 🤣🤣🤣

[@lynne2774]

Such intelligent analysis about the housing crisis. My opinion is that if the government owns land or controls planning permission that defines a large part of the cost of housing. If the land was on a permanent lease which cannot be sold then only the cost of houses on it would need to be covered, that makes it more affordable for buyers or renters. Only if the land lease terms could never be changed and exploited. Prefab homes could be built and employment and training opportunities created. Self build projects could be encouraged especially with young people in groups.

[@paulmcintyre5444]

Very informative

[@chrisblay]

Mr Hunt, he was a ....

[@flickthenick]

All this from Jezza will last as long as the current government, the next announcement will be the election...

[@tourrhythmgolf-3to1]

to say abolishing FHL will have little impact may be true nationally. But it will be a big deal here in Devon and Cornwall!

[@scarlettspear7447]

I agree with you, Charlie!!

[@jfk9996]

The GE will likely be sooner because the recession & general economy are going to deteriorate rapidly through the year and so there's no incentive to drag out the agony any longer.

[@stephengreen8986]

Maybe the mayors in the regions will make things more joined up. (Especially the Andy's, Street and Burnham). For all the skills in planning departments, they are better at saying no than saying yes.

[@stevesecret4782]

Hunt only knows two kinds of people...the have's and the have yachts

[@flyinghedgehog3833]

UK is finished... Leave if you can.

[@lisalu3994]

For where.

[@flyinghedgehog3833]

@@lisalu3994 Pretty much anywhere...

[@gohrt9139]

Already looking Hungary comes to mind safer than most places too and cheaper house prices

[@wedocam]

For whites and straights only

[@flyinghedgehog3833]

@@gohrt9139 Beautiful country, good luck.

[@speedyhillski]

Theres a brutal but easy answer. Change the law so housing doesnt have to be legally provided. Suprised the Tories havent done that.

[@stevo728822]

Last time I looked, UK AIM stocks were not eligible to be held within an ISA because they are considered too risky and volatile. SMRs are only being built at existing nuclear sites. Zero chance of them being built anywhere else in the country. Fujitsu are famous for the Horizon post office scandal. But Fujitsu were also involved in building the NHS Spine system which was a £10 billion failure. After this, it was David Cameron who told NHS Trusts that they could make their own independent decisions to select IT technology. As a result, there's little IT consistency across the NHS. Labour will have the same problem as the Tories in government...no money to spend. House prices might fall but that still doesn't create more housing. The only available solution is to allow and encourage banks, investment and hedge funds, private equity to build housing and then rent them out. This is the path the USA is heading towards. It means many Millenials and GenZ will be renting until the day they die, or inherit, but at least they will have a roof over their head. It's looking like the post-War era was an outlier and the world is returning to the master-servant-serf-slave-peasant model that existed for most of human history.

[@oneeleven9832]

You can’t solve a housing issue while allowing legal and illegal immigration at the level we have…i agree the solution will eventually come from the private sector..unfortunately dictated by the WEF. Youll own nothing & be happy…unless we have small government with little power & a solution to the creation of currency from thin air i fear it’s just a slow collapse…

[@tomroland5467]

If you include all the decommissioned sites there's a significant number of places where you could site SMRs. You also have the advantage of exisiting or nearby connections to the National Grid.

[@christopheradderley6902]

If you don’t expect private companies to make losses on the sale of property, you must concede the difference would have to be made up by the taxpayer. This simply isn’t plausible. All the build costs aside, there are higher annual maintenance costs associated with publicly owned assets such as buildings.

[@toiletrollholder]

The taxpayer has to pick up the bill for every leaking tap and tin of paint for taxpayer owned property. That would need to change!

[@andym.6141]

Reduce/eliminate stamp duty for those down sizing to free up larger properties for families.

[@essanjay8604]

It would help but still there's a huge lack of property suitable to downsize to. Ask most over 70s what they'd prefer and I'd hazard a guess they'd opt for an affordable bungalow big enough to swing a cat in! In my area bungalows are more expensive than houses!

[@humanbeing6933]

Oeople in precarious positions don’t ask for rises and higher prices demand higher output in order to keep a roof over one’s head… quite deliberate

[@jamesridley3596]

Who's going to build the new homes? So many construction companies are going bust I've never seen so many in my life time it's worse than 2008 by a mile red diesel hasn't helped either keep up with the good work

[@essanjay8604]

They're not building what people want. I've watched a new estate go up near me - loads of large detached houses and three storey town houses but not a bungalow in sight.

[@jwc380]

BISA?! After you sausage 😅

[@richardlongmuir8348]

I thought they might have abolished SD………it was meant to be an election “ giveaway “ budget but it really was more austerity

[@tomroland5467]

Other commentators have said Hunt provided what the banks and markets wanted namely stability. Given what happened with Liz Truss perhaps this budget wasn't all bad. Maybe the country could be described as poorly but stable.

[@user-bz6nt2ez5q]

Bought 7 years ago, is it going to hurt me?

[@stephfoxwell4620]

House prices now double every 20 years.

[@gohrt9139]

My friends just bought a prop that was on the market 6bed 3floors mint condition offer accepted 350 2days ago things are changing

[@neilbigh2654]

Have you seen a high functioning team in the last 14 years? 🤣

[@user-gt7jp4xk8p]

It’s not a nothing burger its a shit sandwich the more dough you have the less shit you have to eat

[@gillianmillington7735]

stop the boats

[@MovingHomewithCharlie]

Coming over here with £250k each to buy houses with! 😜

[@kinggeoffrey3801]

With most peoples wealth being in their house, I can't see houses dropping by much. Unless people are desperate of course. People are being bleed dry by the banks, government, and energy firms. I know I wouldn't drop my asking price in this climate. It would be suicide if I did.

[@mattdevenish83]

What has everyone got against the Lambos?

[@scubadave32]

Speed bumps 😂

[@user-gt7jp4xk8p]

It’s not a no

[@stephengreen8986]

Good move separating the analysis from the budget. Not sure that Stig is right about the electricity. I have a feeling that something is being connected from North sea to Ely area. However, it outlines how complicated governing is. Politics and planning are such different worlds.

[@stephengreen8986]

Sorry, can't find the Ely info. I drive East a lot and can see a lot of Electricity connections going in around the Eastern region. It was a recent press release I saw.

[@danbooker278]

buy gold

[@christistruth3112]

nrws is prices rose to 2022 levels