DIYbanter - Hinkley Point

On 22/11/2017 17:05, harry wrote:
http://www.bbc.co.uk/news/business-42065837
Just costs more and more.

I think it is interesting to contrast the "Public Accounts Committee",
who are a bunch of grandstanders, to the "Office of Budget
Responsibility" which actually seems to consist of competent economists.

Anyone else horrified today by the "Which" budget summary, which looks
like it has parroted the press release.

In particular this one

https://www.which.co.uk/news/2017/11...get_November17

"First time buyers rejoice", indeed.

Yes, the tiny number who have already exchanged contracts.

The number of houses hasn't changed, suddenly a bunch of new potential
buyers think they have enough money, what happens to prices? The winners
are at the other end of the market, when they sell the late granny's
house and don't have to buy another.

In reality of course this is really a boost to house builders, and not
just for first time buyers: they can now increase their margin on
*every* unsold house by a couple of grand. So this will encourage more
house building which will achieve what we actually need, i.e. more houses.

And it is a boost to developers which comes out of the government's tax
revenue. Either they have to cut something, or tax us more to make up
the shortfall. Someone always has to pay.