Struggling To Raise Development Finance?
Check out the benefits of Collective Investment Schemes, a viable alternative source of much needed capital.
Click Here for more information
News
Tax credit repayments 'to soar'
Interns are 'entitled to be paid'
Addresses set to lose county name
BBC News - Business
Nationwide: is the holiday over?
Isa war sparks into life as rates rise
Ditch the fix and get a tracker mortgage
Personal finance and money news, analysis and comment | guardian.co.uk
PM Gordon's In a World of His Own
What baffles me is why the general taxpayer should prop up special interest groups like mortgage holders or would-be first time buyers.
We've now had a 1-year stamp duty holiday announced for property buyers up to 175,000. Does anyone other Gordon Brown think this is a great idea? Anyone?
Apparently, the PM's package of measures is worth about 1 billion against a market GDP of 4 trillion, which is like a single fly swat on a fast moving truck's windscreen; absolutley unnoticeable. If he can't think of anything better to do with our tax than that he is more bereft of original ideas than I first thought.
Naturally, I wouldn't be cynical enough to suggest it was mere window dressing to boost his flagging polls, or designed to take out the sting in the forthcoming conference season; oh no, not me sir.
The point about markets is that they find their own level - eventually. There's alawys pain and sorrow along that corrective route for a few, but better that than the long-term pain of the many. Markets are imperfect of course, and often get out of sync, as capitalists we all know this, and are forced to accept it. But politicians live in the white heat of do-something-now media and special interest cries of doom and so cannot resist the urge to meddle. And it's the meddling that all wrong. if instead of meddling they had the leadership and vision to make the bold corrective moves that adjust the markets more quickly, that would be welcomed. Take a look at the US swashbuckling approach to Freddie and Fannie to see how it should be done.
Sadly we are led by the timid with no prospect of anyone better in the wings. Hold on for a depressing 12 months ahead, but like I've said before, spend what you can afford because it's no use saving it; if you do we'll be boarding up GB Plc. By way of example setting, I've just bought a 44,000 car which will keep people in work, the wheels turning, the pumps pumping and the tax coffers tinkling. Happy shopping to you all.