Do they think we are stupid?

 Well MPs believe that laws should be passed to prevent Landlords from increasing rent when they are forced to comply with the crazy net zero EPC for rental properties. Rental properties with a score below C will need money spent on them to achieve C.  The current minimum level is E.  The likely investment per property will be circa £30k to elevate a E property to C. This improvement will save tenants £240 per year.   All that whilst Labour has increased tenant energy bills by £281 since they have been in power and doubtless will increase fuel poverty further in the next 4 years. So MPs want to make it illegal for Landlords to recover this £30k investment through increased rents. I personally want to give my tenants the choice.  If they want the improvements then their rent will increase.  If they would rather the rent stays the same then the improvements dont happen. It make no sense to force me to spend money with a 100 year breakeven.   The governme...

 Labour clearly thinks taxing the rich is the way forward (rather than cutting government spending). However, a bit like Labour's "we wont tax working people statement", who are the rich? Starmer, who is allegedly worth £7.7Million, doesn't consider himself to be rich so who are the rich? So where does tax revenue come from? The top 1% pay 29% of all tax income The top 10% of earners pay 60% of all tax income. Over 60s pay 11% of all tax. "Working age" 50-64 pay 34% of all tax The narrative is that the ultra rich are not paying their fair share. So the top 1% pay 29% of all tax.  They are paying more tax than ever. The top 1% paid 25% of all tax in 2010 and they paid 21% of all tax in 2000.  So the tax take from the richest has increased 38% in 25 years. The 40% tax band starts at £50,270 so presumably if you earn that much you must be "rich". In the 1990s just 3.5% of the population paid 40% tax. It increased to 4.1 Million people in 2021 (6% of ...

The financial media is now speculating that UK house prices will crash. I'm not so sure - here's my take on where things are. Firstly houses are there to be lived in.  With waves of immigration (both legal and illegal), there are millions more people in the UK now than 20 years ago.  They all need somewhere to live. Although Angela has promised to build millions more houses, this has yet to materialise. So currently we have a supply and demand problem.  There are too few houses for too many people. When there is more demand than supply then prices tend to rise. Although house price growth is slowing it is not falling. In part there was a flurry of sale activity in Q1 2025 in order to beat Rachel's stamp duty increase.  This ultimately resulted in the April's GDP number showing the UK economy contracting as legal service fees for conveyancing plummeted in April once all the deals had been closed in Jan-March. The housing market is not really a single market.  We ...

 If anyone challenges Labour on their economic track record and you can hear Starmer smugly wheezing on about "Liz Truss crashed the economy". At the time, the things which caused the left wing media to trash Liz, was the 30 year gilt (government long term borrowing) spiked to 4.85%. In part this was due to the LDI pension bubble which the Bank of England and other officials failed to spot.  Bad luck for Liz. At the time 4.85% was cataclysmic to the economy so the reports went.   Now where are we today? A quick look at the markets  shows the Open price for British 30 Year Gilt UK30Y-GB is 5.473% and daily high of 5.495% Isn't 5.4% higher than 4.85% ? So aren't things worse now than under Liz Truss? Yet we don't hear the left wing media harping on that Rachel crashed the economy. Where is the hysteria now when there should be genuine hysteria? So borrowing rates are 0.6% higher right now than at the height of  the supposed Liz Truss financial crisi...

 The latest Zoopla rent report  states that private rents have increased by 21% over the last 3 years.  This is the June 2025 report. I thought I would analyse this before Generation Rent and Angela start arguing that this is another example of greedy landlords. Firstly the rent increase is based on new tenancies. Given the Renter Reform Bill will introduce rent controls, it is driving behaviour to raise rents to market levels now before they are subject to legal controls. So let's look at the wider historic data. Private rents increased by 4.2% in 2022, 6.2% in 2023 and 9.1% in 2024. For comparison rent increases for COUNCIL and SOCIAL housing for the same period was 2022 7%, 2023 7% and 2024 7.7% so in total 21% whereas the total for the private sector over the same period was 19.5%. <Switch to Generation Rent mode> This is a clear example of caring private landlords caring for their tenants whilst greedy socialist government bodies exploit vulnerable tenants. The...

 Labour's manifesto promise, not to break the state pension triple lock, looks set to be broken. The state pension  is expected to cost £145.6 BILLION in 2025-2026. Tax revenue in 24/25 was £839.6 BILLION (approx 33% of the £2,851B GDP).  State spending is £1,278 BILLION (approx 45% of GDP). So there's a budget deficit (ie spending more than the government gets) of £443.35 BILLION each year. In other words the credit card is being hit for overspending to roughly 3x as much as the state pension every year....Every year adding £443 BILLION to the debt pile. Hang on - Rachel is running things - the debt's actually going to be a lot more than £443 BILLION next year.... Successive governments have allowed government debt to balloon to £2.81 TRILLION (about the size of the GDP). The interest rate on the government credit card is current 4.5%pa so the cost of servicing this debt is £126.45 BILLION per year - a big chunk of that is handed over to the Chinese government as they ho...

 With Labour continuing to promise not to increase national insurance, tax or VAT as a result of their ballooning deficit, it does beg the question what will Rachel tax next? It's clear they are not prepared to cut spending but the books don't balance. When Labour came to power the interest rates for gilts on the colossal £2.7 TRILLION  government debt was 4.1%.  Borrowing rates  have  increased to 4.5% (spiking to 4.8% when Rachel cried). That's a lot more money to service the debt pile. And the debt pile is growing faster than when they came to power. Government spending is is 45% of GDP (and rising) whilst tax income is about 33% of GBP (and probably falling due to exodus of thousands of millionaires each week). So we are already spending 12%+ of GDP and therefore borrowing  money we dont have. Starmer reiterated his pledge not to increase the holy trinity of taxes so what else is there Rachel can tax? Well council tax certainly seems to in Rachel's sigh...

Well it's been 1 year since Labour rocketed to power with a super majority.  However 1 year on it's clear it hasnt been a happy year for Labour. This post is more about Rachel from Accounts that our illustrious Leader.  Two Tier has been too busy checking out his free gear to be bothered with being a leader.   He has gone from being the smug newboy to a rather pathetic looking schoolboy who realises he's out of his depth.    Reflect on starmer's day 1 speech.   Also it's worth reviewing where we were before  Labour's inheritance So what's happened in the first year. Well Two-Tier and Rachel made us feel miserable about the state of the economy.  They did a fabulous job of making us believe the economy was in worse state than it really was.  We believed them and the economy then started to slump. Rachel managed to find the  fiscal blackholes  that she had created. Labour then managed to alienate old age pensioners but then they...