July 27th, 2012

Property Speculator Lord Oakeshott Says Build More Homes

The ever irritating, yet strangely compelling, Matthew Oakeshott has spent the week trying to big-up his mate Vince Cable and a change in economic direction. Guido was particularly interested by one policy in his all-solving Plan A+:

That’s why I’ve been saying we need a bold plan A+, making banks lend, especially RBS, the bank we own but disgracefully don’t control, and a firm government commitment to create 500,000 new jobs in construction by doing whatever it takes to build 100,000 more homes a year.

Does this have anything to do with the fact that the good Lord has a small fortune relying on home construction as a property speculator? The petulant peer is the “joint investment manager” at OLIM Investments’ Value Income Trust and the chairman of OLIM Property, investment firms which make their money from – you guessed it – building homes. Very Tim Yeo


94 Comments

  1. 1
    Kebab Time says:

    So he can line his own pockets.

    I wish i supported death pen sometimes.

    Like

    • 7

      Oakshit as he is known in the markets (for being the most unpleasant asset manager) also runs many charitable trusts for exceeding rich people to “optimise” their tax and inheritance arrangements.

      Like Toynbee, Umunna, Livingstone, Miliband and Balls, unearthing Oakshit’s wealth, trust and tax arrangements may be at significant odds with his utterances.

      Never let the truth get in the way of getting filthy rich

      Like

      • 25
        bumboy Dave says:

        More Immigrants! More Homes! More Prosperity!

        Change you can believe in!

        Like

        • 36
          Boris says:

          Amnesty for ‘Russian’ billionaire oligarch criminal scum, now!

          Like

          • UKIP.i.am says:

            Here’s a brilliant idea. Let’s get the banks to make risky loans to the poor so they can buy homes. What could possibly go wrong?

            Like

        • 83
          Handycock Immigrant Trafficker says:

          More immigration, well said bumboy Dave. This calls for a celebration:

          Like

    • 17
      AC1 says:

      All that’s needed to build more homes is to remove the NIMBYs from controlling planning permission, and taxing them for preventing others from fully utilising their lands to build housing.

      Like

    • 20
      Ivor Tapeworm says:

      House prices are one of the major drags on the UK economy. I welcome more homes being built, especially as the House Price bubble needs deflating faster.

      Shortage of accomodation has resulted from inadequate housebuilding and population increases. Like other infrastructure deficiences, succesive governments have failed to keep pace with the population’s needs.

      The people who will squeal are the ones who think that they are canny property speculators and think that sticking a few twigs in a vase and selling for £20k profit on the basis of rampant House Price Inflation makes them ‘property developers’.

      These people think that profit is some sort of entitlement for merely owning a house, and fail to do the research that shows that property bubbles always burst when there are no more cretins left to jump on the speculation bandwagon.

      As for lords owning vast amounts of land, that is a different problem. The Enclosures Act was the biggest crime in Britsh history, and the landed descendants of the aristocrats who benefited have mostly turned to banking fraud for easy money nowadays.

      Like

      • 34
        The Paragnostic says:

        There is a big drag holding back the revaluation that is much needed – housing benefit rates. Until this is capped at a reasonable local rate, property owners will still have a large minimum income and will see their homes as worth a large multiple of that.

        Cut off the public subsidy to the buy to let crowd, and let the meerkat decide what property is worth without state interference.

        Like

      • 49
        Yeah, right... says:

        Oh yes. A toxic mixture of rigid, finite supply controlled by the politically manipulated Town & Country Planning Act and infinite lending/borrowing underwritten by an implicit state guarantee for reckless lenders and an explicit one for reckless borrowers.

        The inevitable result is a house price boom decoupled from the fundamentals of average earnings and one which our present government is trying it’s best to prop up with grotesque scams such as the Brownesque First Buy.

        One day, we might, as a nation, wake up and realise that high house prices dont really make us richer.

        Like

        • 52
          AC1 says:

          > infinite lending/borrowing underwritten by an implicit state guarantee

          The Debt is much more than that. Debt increases act like a plaster to hide falls in wealth creation caused by income taxations damage to comparative advantage. As such it’s needed and regulated into existence by governments to lie to the voters.

          Of course this debt also increases the landowners (tax free) wealth too.

          Like

        • 54
          AC1 says:

          High house prices/ AKA low house affordability acts like a TAX.

          A large%age of profit is spent, not by those who organised it, or performed parts of it, but by those who own property near to where it was created. This is basically Ricardo’s law.

          Like

  2. 2
    Baron Hogwash says:

    Lord Oafenshott – one reason to do away with lords.

    Like

    • 37
      Labourunionsbbc we are one says:

      Or, preferably, the libdums

      Like

    • 87
      Trahison des Clercs says:

      Is the noble Lord a hereditary or a Placeman? In any event replace them with what? More of the same writ large? Blair will have a lot to answer for when he meets his Judge. Not one that he owns if you catch my drift, but one he will find impossible to smarm.

      Like

    • 93
      Ed Bandwagon says:

      One reason to do away with Lord Oakesitt

      Like

  3. 3
    Dream On says:

    Like

  4. 4
    I go off on a bender says:

    We’re They’re all in this together.

    Like

    • 74
      Alf Garnett says:

      They sure are, and so are we. The difference is that they’re in clover, and we’re in shit.

      Have one for me (if that’s the sort of bender I’m thinking of).

      Like

  5. 5
    Green and pleasant land says:

    Not in my backyard thanks.

    Like

    • 15
      Only 16 days 09 hours 50 minutes until the Olympics are over! Yay! says:

      You have a backyard? Keep quiet!! They’ll put a compulsory-purchase order on it if they find out, and you’ll have 16 social houses where the kids’ paddling-pool used to be.

      Like

  6. 6
    Andrew Efiong says:

    Aha, he’s been flushed out!

    He calls for government policy to suit his greedy aims, quite the little Lib Dem helltoad.

    Like

  7. 9
    Only 16 days 09 hours 53 minutes until the Olympics are over! Yay! says:

    “doing whatever it takes to build 100,000 more homes a year”

    A man who hates the English countryside almost as much as Dave – I bet they get along well.

    Like

    • 11
      Four-eyed English Genius says:

      They should do, They are both Lib Dems at heart!

      Like

      • 21
        I Remember You Hoo says:

        They are both Fabians you mean.

        Like

      • 27
        Ivor Tapeworm says:

        We are a densley populated country (and of mostly very dense people). That is the problem.

        Refusing to build houses won’t make that problem go away, it merely creates homelessness and overcrowding, and vast profits for the landowning majority who are the elite in power.

        Choices:
        1) The status quo – overpriced housing, overcrowded housing, more profits for mortgage lenders (bankers) and landowners (the aristocracy in particular)
        2) Build – All that is neded is a modest amount of land.
        3) Reduce the population.

        Like

    • 19
      AC1 says:

      Only 98% of the land is not built on!

      We just can’t find any space…

      Like

      • 38
        Only 16 days 09 hours 37 minutes until the Olympics are over! Yay! says:

        Have you been reading Balfour Beatty’s annual report again, AC1?

        Like

        • 47
          AC1 says:

          No. I’ve been reading the land survey of the U.K.

          Like

        • 48
          AC1 says:

          You can do your own check when you go on hols.

          Take off, wait 5 mins. Look below. It’ll be green.

          Like

          • lolathebeautiful says:

            psst. Don’t tell the Greens it’s green…

            Like

          • Only 16 days 08 hours 57 minutes until the Olympics are over! Yay! says:

            Not for much longer. 100,000 houses per year = 274 houses per day. A street’s worth. Plus gardens/garage/car-parking.

            Plus the street.

            And the sewerage works. Power stations. Hospitals. Schools. Doctors’ surgeries. and so on. And so on.

            I’m reminded of someone who once said, indignantly, “you can fit the world’s population on to the Isle of Wight”.

            Sure you can. So long as you don’t mind standing up. And never eating.

            Like

          • AC1 says:

            Malthus for homes…

            How ridiculously wrong.

            Like

        • 79
          Yeah, right... says:

          It suits the vested interests – National Trust, volume housebuilders, – to peddle this myth that we are overcrowded.

          Some parts of the country are, but not many. Our new houses remain the smallest (measure in m2) and costliest in Europe though. Now think about it, who could possibly benefit from that?

          Like

      • 78
        Yeah, right... says:

        This is true. Even including all the car parks, roads and other hard surfaces, a tiny proportion of our land is developed.

        Wouldn’t it make more sense to build houses on a tiny fraction of that 98% rather than bribe farmers to look after it with money taxed from a population who can ill afford such largesse, what with the cost of housing and all that?

        Like

      • 92
        Marion the cat says:

        OK, lets find a little bit of land near you, build a housing estate and a mosque – every friday you can be woken to the call ‘Allo Akkbhar’ or whatever -doesn’t sound very English to me. But there you go, each to his own, but don’t **ckin’ try it near me.

        Like

  8. 10
    Rackman Properties says:

    sounds ok to me

    Like

  9. 12
    Elton John says:

    Does this guy buy his wigs from the same shop as Brucie???

    Like

  10. 13
    I Remember You Hoo says:

    Of course the oaf fails to mention that those “100,000” jobs have to, under EU law, be tendered out to companies across the EU and thus, may very likely create no new jobs for people in this country at all.

    But then, why should Oakeshott the speculator care, more profit for him is he can get them built on the cheap, using eastern European labour.

    Like

    • 23
      Only 16 days 09 hours 43 minutes until the Olympics are over! Yay! says:

      Ah, now this is the LibDem’s cunning plan.

      You ‘create’ 500,000 jobs by building 100,000 homes, but most (if not all) of those 500,000 jobs go to immigrants, who need.. homes! So you ‘create’ even more jobs to build homes for the immigrants. Of course, those extra construction jobs go to immigrants, who need.. homes! So, you ‘create’ more jobs by building more homes for the immigrants who are building homes for the immigrants, and as most of those jobs go to immigrants, who need homes, you .. repeat ad-infinitum.

      Like

  11. 14
    Synic says:

    Oakeshott is yet another Oxford PPE financier politician and libdum. Typical of the Westminster Wxnkxrs that have ruined the UK

    Like

  12. 18
    Cult watch says:

    There seems to be a new religion on the streets of London where the great unwashed turnout to worship a flame.

    Like

  13. 22
    The Paragnostic says:

    Shouldn’t be a surprise to anyone,

    Oakeshott started life as a Labour candidate but wasn’t important enough to be a member of the Gang of Four. He thus has the sort of sense of entitlement befitting your average Socialist and probably thinks that the state owes him a good living.

    In a just world, we’d announce a few billion quid for housebuilding but ban any Parliamentarian from either house from profiting from it.

    Like

  14. 24
    BagLady says:

    Unfortunately, the 500,000 jobs are all to go to new immigrants, apparently. It’s been coming for a while now, Osborne’s theory of getting us out of the financial mess: more immigrants. He has proved it with his one case-study: Mr Mumtaz Khan Akbar, from Pakistan who arrived in Britain in the ’70s and now employs 350 (immigrants?). Osborne opines that, because immigrants work so much harder (for lower wages, substandard housing, low expectations in education and medical facilities?) we should relax the already lax border controls. His theory has now been seconded by UK Trade and Investment who will, no doubt, be attending the Olympic Trade Fair.

    Like

  15. 29
    Gordon Brown says:

    I say borrow more money as I am heavily invested the destruction of Britain

    Like

  16. 30
    UlyssesReturns says:

    Why the fuck would the Lib Dems want another 500,000 Polish builders to come to our overcrowded little country?

    Like

    • 44
      Only 16 days 09 hours 32 minutes until the Olympics are over! Yay! says:

      In the hope that the Poles will do a little cash-in-hand extra work repairing the garage roof, or building a conservatory?

      Like

  17. 33
    Paul says:

    “The ever irritating, yet strangely compelling, Matthew Oakeshott…”

    Oakeshott compelling, strangely or otherwise? There are more compelling dog-turds on my street…

    Like

  18. 40
    Ash Ken the Question says:

    Talking of LibDems etc – what news of our beloved Huhne? Was he, of blessed name, due in court today again or have I sleepwalked through it all?

    Like

  19. 41
    Anonymous says:

    No wonder he’s such a petulant little l/d flower.

    Like

  20. 43
    Scrap the BBC says:

    Stop Press

    The BBC call the police to prevent a family entering their own home.

    Following a request from BBC Security…

    They can do this because of the unique way they are funded.

    Like

    • 55
      Ewaname says:

      Which is harder: getting back into your BBC-pwned home or getting a comment to stick on their website?

      Like

  21. 50
    Doggie Fashion says:

    ‘strangely compelling, that is gross, grotesque and truly disgusting. I s’pose he is ‘strangely compelling’ in the same way as the creature washed up under the Brooklyn Bridge is compelling http://www.thesun.co.uk/sol/homepage/news/4454911/Beast-of-Brooklyn-washed-up-in-New-York.html

    yuk, yuk, yuk.

    Like

  22. 53
    A View To A Kill says:

    Duran Duran are one of the very hip and contemporary bands that will be performing at tonight’s opening ceremony. Richard Timney hopes they’ll sing Girls On Film.

    Like

  23. 58

    I advocate plan A++

    Investment in more ornamental ponds, fountains and fish protectors.

    Since 2007 governments have failed to help the water garden industry and have allowed the nation’s leisure and recreation and home and garden improvement to wither.

    I advocate a massive cash injection to allow the public to obtain affordable credit to build aquatic structures and water features.

    BTW in the members interests book – declared – William Quango MP – 1 x aquaria – £350. 1 x EA Airtech air pump – £276 . 6 x Velda Floating Plant Islands @ £7.08 each from Quango and Chaucer’s Fishtastic garden design, on the A34, big place , can’t miss it. Owned by nephew.
    {this in no way influences my policies}

    Like

  24. 60
    keredybretsa says:

    Well let’s face facts-this geez knows what he’s talking about. Even if he is thinking whatsinnitfor me…me…me.

    Like

  25. 61
    Jimmy says:

    Obviously all those people who want to end the recession have vested interests in economic growth and the government should ignore them.

    Like

  26. 65
    lolathebeautiful says:

    Twat of the Day supplants previous Twat of the Day.

    Like

  27. 66
    mikis says:

    Oakeshott likes the sound of his own voice but I don’t recall anyone ever voting for him. A spell of silence from him (like for the next 30 years) would be welcome.

    Like

  28. 67
    Deep Froat says:

    I completely agree with M Oakshaft.
    Find out where he lives and build ALL of them in his immediate vicinity.

    There that fixed it.

    Like

  29. 68
    All lib dems are liars says:

    Yypical lib dem Hunt really say one thing in one area and another in another.

    Like

  30. 69
    Nothing better to do says:

    Do the bastards ever do anything that isn’t in their own interest? Every single statement that comes out of their mouths is either cheap vote grabbing or blatant financial manipulation.
    Your local crack dealer is more honest.

    Like

  31. 70
    sixupman says:

    More like Oakshitt, self-satisfied turd!

    Like

    • 86
      gildedtumbril says:

      You had the same thought as I. I am, however, too polite to call the bastards such. Keep up the good work.

      Like

  32. 73
    Blowing Whistles says:

    Lord Oakeshott / Property Speculator …. how very Tim Yeo

    How very very Lord Ahmed / Property speculator cum developer … Ho Humm!

    Aren’t all of them in thrall to the banksters? Hence they’re “always seen to be throwing dirt at the Banksters” – but in reality it’s all a sop – part of the great big lie that is the HOC & the HOL. As for the onboard legions of the press hound pack … well aren’t they too part of the big lie?

    Like

    • 85
      gildedtumbril says:

      Sadly, all you say is correct. They are all robbing bastards and guilty of malfeasance. It should be a capital offense.

      Like

  33. 81
    gildedtumbril says:

    Those 100,000 homes are desperately needed for white flight. Get ‘em built then, when enriching invaders go home to enrich where they sprang from we can demolish entire cities and towns and start again.
    Simple enough for you all?

    Like

  34. 88
    What do you expect from the left (BBC)... says:

    Typical Liberal two faced hypocrite working to fill his pockets by working from the inside! Another case of do as I say say , not as I do, especially when it makes me and my family loads of money -

    Like


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Rob Colvile reviews Russell Brand’s new book:

“Oddly, the person I feel sorriest for isn’t Brand himself – although he certainly comes across as a rather pitiable figure, projecting his own brokenness on to the world around him – but Johann Hari. Drummed out of Fleet Street for plagiarism, the former Independent columnist has washed up as “my mate Johann, who’s been doing research for this book”. For a genuinely talented polemicist, it would have been a humbling experience to have to treat this sub-undergraduate dross as the scintillating wisdom of a philosopher-king.”



Mycroft says:

Have you read the last bit of Animal Farm?

You know where the animals are looking through the Farmhouse window?

My TV screen was that window at lunch-time today.

Be careful, the sudden self-congratulatory tone, the slightly pudgy outline of indulgence and you become exactly what you should despise.

The jolly face of the Quisling Cameron poses for your camera has mesmerised and deceived you, you who were once not so deceived.

You were no firebrand, you were a damp squib in my opinion, sorry.

You need a damned good kick up the ahse!


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