Treasury Sources Kick Back at Balls Before He’s Opened Mouth

Balls seems to have briefed the entirety of his upcoming conference speech already. One of the downsides of doing this before he’s even reached the podium is that it gives his opponents the chance to shoot it down before he’s opened his mouth. Treasury sources are pointing out the HMRC’s own report into the last time Stamp Duty was frozen for first time buyers:

“The tax relief has not had a significant impact on improving affordability for first time buyers. It is estimated that most of the people who benefited would have purchased property in the absence of the relief anyway.”

The only significant impact will be to give Balls at least one policy, however pointless.

It’s well known that Balls still has ‘people’ inside the Treasury and there is plenty of speculation doing the rounds that he had got wind of the 4G auction goodies fund and has pulled a fast one on the Chancellor. Just like George did in 2007 with the inheritance tax threshold hike…



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Quote of the Day

Charles Clarke says Cameron is the most successful PM for over a century…

“Under Margaret Thatcher the Conservatives gained 99 seats. They lost 211 under John Major, gained one under William Hague, quickly and wisely got rid of Ian Duncan-Smith, gained 32 under Michael Howard and have so far gained 133 under David Cameron who, to the great surprise of many (including senior Conservatives), has turned out to be the most electorally successful Tory leader since 1900.”

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