Tuesday, 2 September 2008

That Took Two Months!

I am amazed that after two months all the government could come up with to stave of recession was to slightly increase stamp duty (thereby trapping 1st time buyers in negative equity when the markets falls 15% this year) and subsidising new builds )and storing up problems for their buyers with additional loans).

I am appalled. Mainly as I think both of these ideas are short term problem solving that will create even bigger disasters in 12 months and five years respectively.

I am also annoyed about the regional targeting of the aid. Where in the South East can you buy a two bedroom property for £175k. This is short termism at its worse storing up problems for the future to buy votes today.

This will be my definition of New Labour - short term vote winning at the cost of the future. 639 days to go.

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