May 1st, 2014

Labour’s Shadow Housing Minister Opposed Rent Controls

Red Ed today announces that a Labour government will impose new caps on rent increases on buy-to-let homes. His shadow housing minister Emma Reynolds is doing the rounds explaining why she supports what are effectively good old-fashioned rent controls:

“A third of renters are families with children. That’s why a Labour government will deliver 3 year tenancies with a ceiling on rent increases. We need more stability for tenants and landlords. Labour will introduce a fairer deal for both, Ed Miliband will set out reforms today.”

That’s not what Emma used to say. In January she went on Channel 4 News and told Cathy Newman:

“Rent controls are not going to work in practice.”

You said it…


168 Comments

  1. 1
    Ed Milibiscuit says:

    I am millionaire who owns my own home.

  2. 2
    Prime Minister David Cameron says:

    Has Maria Miller resigned yet ?

  3. 3
    Uncle Fester says:

    What a bloody stupid idea. This core vote strategy stuff is the reaso Labour were in the wilderness for 18 years

  4. 4
    Tooth fairy says:

    Surely people that invest in property are the saviour of those needing homes?

    Once interest rates increase again, and rent controls are in place, the investment would not make economic sense and therefore rental property will be taken off the market and the houses then sold.

    Those that rent will find it even harder to find a place to live.

    We should be supporting the BTL investors, the majority of whom are not rich and have massive portfolios but are single or a couple of properties.

  5. 5
    Socialism is theft says:

    High rents are just yet another ridiculous result of mass, uncontrolled immigration that only UKIP can fix. The laws of supply and demand. Not rocket science.

  6. 6
    John Lewis says:

    Oh how the Lib Dems and Tories squeal at this “state interference”.
    But wait. Who first introduced Rent Controls in the UK/ Oh gracious. It was a Liberal/Conservative coalition.

    And there’s more: It was the Liberals who strengthened those first controls just a few years later.

    How very embarrassing.

  7. 7
    TheOldCodger says:

    Honestly you couldn’t make up this rubbish coming out of Mili’s mouth.

  8. 8
    Ohthisbloodypc says:

    I wonder if Cathy Newman will fact check that one

    No, I don’t think so either

  9. 9
    Socialism is theft says:

    Ed Milliband, Nick Clegg and David Cameron – three arses sharing the same seat.

  10. 10
    Bloomers in rain-soaked Bongo Bongo Land says:
  11. 11
    Lurch to the Left says:

    Hilarious. Agents forbidden for charging tenancy fees will just jack up rents.

    Plus making it harder to rent out property will shrink the supply of rental property meaning less choice and higher rents.

  12. 12
    Anonymong says:

    Are there any examples of rent controls working anywhere, ever?

    Milliband would look a lot like Maduro if he grew a moustache, or maybe that would be Bob Carolgees. Damn this is confusing.

  13. 13
    Observer says:

    And how did those controls work out?

  14. 14
    SIZE 14 CARBON FOOTPRINT says:

    Well done Miliband , you have just triggered a huge rise in rents before the next election as property owners seek to insure themselves against the remote possibility of you winning !

  15. 15
    ShepshedRichTea says:

    you can not tell a landlord how much he should charge rent more than you can tell the local sweetie shop how much they should sell Texan bars for! Bloody socialist nonsense.

  16. 16
    Guy News Room says:

    Gerry Adams remains in custody after being arrested in connection with the murder of a woman in 1972.

    Will he be charged later today ?

  17. 17
    Palab Gauche says:

    Not really. Property prices have soared because we consistently build less than population growth and long before Labour let in the Poles without the restrictions the rest of Europe imposed.

    It’s all about planning. We need to build hundreds of thousands more homes… and we need the Polish builders to do it.

  18. 18
    anon says:

    He really is as thick as two short shites.

  19. 19
    @hateliebour says:

    LibCraps like Liebour use or steal everybody else’s money except their own, part of the EU rubbish who are now going to steal pensioners money.

  20. 20
    Spit the Dog says:

    Ed Balls

  21. 21
    NeverRed says:

    If this socialist freak Emma would replace the mop stuck on top of her head and put her mouth to good use sucking instead of blowing out a whining noise she would be most shaggable.

  22. 22
    Orwell says:

    I love how they label the civil war, abductions, genocide and death squads “The Troubles”.

  23. 23
    Boris says:

    She’s got a very silly hair do.

  24. 24
    Plonker Alert says:

    What a plonker. If they built more houses rents would go down.

    Instead he’s trying to rig the market. But it will reduce the supply of homes for rent and drive up prices.

    Labour look more and more unelectable every day.

  25. 25
    Bird's Nest says:

    What her hair needs, is a mop bucket.

  26. 26
    Socialism is theft says:

    And where are we going to build them? In areas liable to flood or areas where nobody wants to live?

  27. 27
    Django says:

    Yes hopefully electrically!!

  28. 28
    Tarquin says:

    Yes — but fortunately you are still in “power”

    P.S. Can you speed up divorcing for Bumsex Marriage? I’m really fed up with Justin bending over for your Tory M.P.s. I want to dump him asap.

  29. 29
    bergen says:

    It’ll be back to the good old days of bogus “holiday” lets of 6 months, restricted contracts (bet Ed’s never heard of them) and “shared ” facilities.

    It might be a short term vote winner but it will make the housing shortage far worse once it takes effect.

  30. 30
    Jeremy says:

    ” Eany meany miney moe.

    Catch a nugger by his toe

    If he screams let it go…..” Well that’s fair enough, you wouldn’t want to inflict pain.

  31. 31
    @hateliebour says:

    I see the LibLabCons have decided not to spam UKIP and give them free PR, so all is now quiet, they have also forget to increase their PR for themselves, I suppose they think people will forget UKIP is here, as usuakl heads in the sand.

  32. 32
    Nitty Nora says:

    More like a good combing.

  33. 33
    jgm2 says:

    This core vote strategy stuff is the reaso Labour were in the wilderness for 18 years

    1800 years too few as it turned out.

  34. 34
    Anonymong says:

    I think he’s also triggering a consistent rise in rents after the election too, should this policy come into effect.

    Government issuing a pricing signal to landlords that an inflation-linked rise each year is acceptable, means that they can all raise up to that limit safe in the knowledge that everyone else is doing it.

    This sort of thing could have the exact opposite effect to that intended. It’s like landlord forward guidance, as if they weren’t getting enough help already.

  35. 35
    Socialism is theft says:

    Plus the birth rate was falling before we had mass immigration. So your policy is not just impossible it is also bogus.

  36. 36
    A House says:

    Labour know that. Do undertsand – they dlon’t really care. They only care about quick soundbites and scroungers’ rights.

  37. 37
    Cut demand. says:

    Why can’t politicians face the blinding obvious? Immigration increases population, more demand for housing with limited increase in supply means massive increase in price.

    And no the solution is not a massive increase in supply.

  38. 38
    Jim says:

    Labour finding new ways of buying more Votes with taxpayers money?
    Why don’t they build the Social Housing that is needed?
    Not enough Votes quickly enough in time for 2015?

  39. 39
    Basic economics. says:

    If they reversed immigration rents would go down.

  40. 40
    Raving Loon says:

    Maybe the MSM will learn its lesson and stop trying to bad mouth UKIP. Unless someone finds evidence that Nigel Farage eats babies, no one will care.

  41. 41
    Roger Dewhurst says:

    Rent controls simply stop building.

  42. 42
    Jim says:

    Is this today’s Smear?

  43. 43
    Harry House says:

    Logical fail? Do houses disappear if sold? No. Some current renters would buy if houses were sold off en masse.

    That said, rent caps is the wrong policy simply because rents are not rising in many places, although I guess each market has its local dynamic. Rents are generally tied to local earnings and they have been under pressure for a while. There’s no reason to expect rents to rise dramatically anytime soon, whatever happens to interest rates etc.

    Places I rented over 6 years ago are available for the same (nominal) rent I paid then.

  44. 44
    Lady Virginia Droit de Seigneur says:

    Ed really has gone bonkers – not even Mc Twat attempted this. Does he not realise that rental property is just like other investments – return is assessed v risk. Capping the rent will just make supply dry up and there will be little new development as it will become econnomically unviable.

    We really are heading for disaster if this plank is elected next year.

  45. 45
    Shirley Williams' Price Check says:

    Do they still make Texan bars?

  46. 46
    Twit Pic! says:

  47. 47
    Anonymous says:

    the three year tenancy will only apply to those who take out a btl mortgage after the election

  48. 48
    Curious says:

    Why do they call them blow jobs when they should be called suck jobs?

  49. 49
    There's a good boy...suck it up says:

  50. 50
    N.Farage says:

    Om nom nom nom

  51. 51
    Ministry of Information says:

    Whoever controls the present controls the past, whoever controls the past controls the future.

    The Murdoch press which infiltrates all media, except the Morning Star, will be purged and its journalists will be non-persons.

  52. 52
    21st Century Slums says:

    Social housing, affordable housing and so on are an abomination that no politician who advocates them would actually go and live in.

    The easiest solution is to control demand and with a falling birthrate that means an immigration policy that does what it says on the tin.

    If a country can not produce enough food to feed its population then that country by definition is overcrowded beyond its means.

  53. 53
    SleeplessInKirkcaldy says:

    And low interest rates means mortgages are historically more affordable so prices boomed. A perfect storm for pushing prices up.

  54. 54
    SIZE 14 CARBON FOOTPRINT says:

    That is another principle that I always find mystifying ‘rises in line with inflation’ if they all stopped doing this then surely much of the inflation would never occur ,this must apply across the board ,not only in rents or am I missing something?

  55. 55
    Emma Reynolds says:

    Oh I just anything if I think it’ll get me more votes, you’re thinking too hard.

  56. 56
    Pick a number, any number. says:

    FFS. It is impossible to plan anything when we have uncontrolled immigration.

  57. 57
    Totty Watch says:

  58. 58
    Emma Reynolds says:

    “Myron, put the keyboard back”

  59. 59
    Maximus says:

    Exactly who is investing when the mortgage is 100%? Are banks are no longer insured against losses if a forced sale cannot recover the initial principal? Is that a racket or what?

  60. 60
    Starry Fred says:

    David Cameron ate my willy.

  61. 61
  62. 62
    Old Nick Heavenly (alive and kikin) says:

    testing

  63. 63
    E D Mill E Band says:

    Yee-haw! That’s ma girlie!

  64. 64
    B3 says:

    400 VDC should do it.

  65. 65
    SIZE 14 CARBON FOOTPRINT says:

    I can think of no circumstances where a builder would go out of his way to build UNAFFORDABLE houses, unless he suddenly went barking mad, bat shit bonkers!

  66. 66
    Witness X says:

    You’re lucky, Nigel Evans ripped mine clean off with his bare hands.

  67. 67
    jgm2 says:

    BTL will be shielded from any legislation that might lead to a loss in income or a loss in the value of property portfolios for the simple reason that so many MPs (of all colours) have spent their time in parliament amassing large property portfolios paid for from second home allowances and refurbished on expenses.

    This simple observation explains why Brown allowed an obvious housing bubble to develop from 2001 onwards and why all the stops were pulled out in 2008 (and since) to keep property as over-valued as possible.

    60bn quid of taxpayers money bunged to the banks to stop mass negative equity. Who do you think were some of the chief benificiaries of that decision? Yep. Labour MPs with lots of London property. Darling for one. Brown himself too.

    Who do you think (some) of the chief benificiaries of this ‘Help to Buy’ scheme are? Yep, Tory MPs with London property portfolios escalating by 15% or 20% per year in value.

    For me, the most illuminating piece of political news of the past 10 years was the expenses scandal. It finally explained to me why people who were supposedly running the UK for the good of the nation were, in fact, obviously only running it to ensure that property values kept increasing way beyond any sensible inflation measure.

  68. 68
    Old Nick Heavenly (alive and kikin) says:

    move to Scotland; lots of space there!

  69. 69
    Anonymong says:

    +1

    “It is difficult to get a man to understand something, when his salary depends upon his not understanding it!”

  70. 70
    Woof cut. says:

    My dog has got a better coat than her barnet, even after he’s rolled in dog shit and has been hosed down.

  71. 71
    Old Nick Heavenly (alive and kikin) says:

    tents?????

  72. 72
    Old Nick Heavenly (alive and kikin) says:

    live in a van

  73. 73
    Socialism is theft says:

    Even the Scots don’t want to live in Scotland.

  74. 74
    Rabid fruitcake says:

    Tim Montgomerie three days behind the curve as usual.

    Fucking pooftah!

  75. 75
    In the interests of balance says:

    TGhe private rental sector has become a form of modern day slavery. There is no need for a ball and chain anymore, housing is the proxy to extract wealth that someone else has worked for

  76. 76
    Anonymong says:

    To be fair he’s just trying to fix the effects of previous disastrous government interventions with more government interventions.

    It’s moronic, but Labour aren’t unique in causing unintended consequences in the housing market.

  77. 77
    LibLabCon & MSM says:

    UKIP, UKIP, UKIP, racism, UKIP, UKIP, sexist, UKIP, UKIP, racist, xenophobic, UKIP, UKIP, hates gays.

  78. 78
    Anonymous says:

    Plan wrong. Examples of issues:

    It would help if the last government did demolish a 100,000 homes with out any funded plans to replaced them.
    Planning law, is only for the rich, how can the masses afford to go through the mess we call planning in this country (I know from first hand experience).
    Local authorities should be forced to provide building plots on request.
    Land with planning permission, not built on for two years should be available for forced purchase by anybody for £15k per plot.

    Just a few simple rules that would get housing under control.

    Other countries manage without a shortage,

  79. 79
    MPs Real-estate Portfolio Manager says:

    Ssssshhhhhhhhhhh!!!!!

  80. 80
    Ticks on a box says:

    Exactly. Affordable homes mean diddly squat and are just politically correct hovels tacked onto a building scheme so that it gets planning permission.

  81. 81
    Sally Bercowitz says:

    Come and see me after school for some flute music instruction

  82. 82
    Ed (Too Fat must Fast for Flat Waistline) Balls says:

    Because the missus blows hot and cold on performing them!

  83. 83
    Rev. P Flowers says:

    Rent controls simply won’t work.

  84. 84
    ʍȫʊʂʂȁ ҞϴџṦṦậ says:

    Tenancies are regulated in the rest of Europe where housing is also much (much!) more affordable.

    Three questions spring to mind :

    Could there be a connection between affordability and regulation?

    If so, might the same connection be applied elsewhere, like, say, by re-nationalising essential services like water and electric?

    Which god-awful greedy party of rich offal de-regulated housing and essential services in the first place for the benefit of an elite rich few?

    Surely not?

  85. 85
    Genghiz the kahn says:

    Ed Miliband must have skipped the lectures on Economics which covered rent controls and their unintended consequences.

  86. 86
    Anonymous says:

    Perhaps Labour MPs should pass tests in financial and economic incompetence to ensure consistency of poor erformance such as spendthrift with massive debt, huge off balance sheet liabilities and always extra taxation for the latest pipe dream.
    On the other hand maybe there’s no need?
    Perhaps their dogma makes them incompetent enough without incompetence training?

  87. 87
    Carol Vorderman says:

  88. 88
    Rabid fruitcake says:

    Jan van Eyck?

  89. 89
    Mornington Crescent says:

    Careful. We don’t want him trying to wriggle out of this using the “impossible to get a fair trial” excuse, do we…?

  90. 90
    Rabid fruitcake says:

    Antoon van Dyck?

  91. 91
    Rabid fruitcake says:

    Rembrandt van Rijn?

  92. 92
    Rabid fruitcake says:

    Hugo van der Goes?

  93. 93
    Socialism is theft says:

    Other highly-populated countries have not had immigration on the massive scale we have had here over the last 50 years.

  94. 94
    Rabid fruitcake says:

    Gossen van der Weyden?

  95. 95
    You forgot... says:

    Frit, Wife on the payroll, Jailed MEPs, Irish actor in anti-migrant worker posters, a bigot a day, weirdo donors

  96. 96
    Rabid fruitcake says:

    Roger van der Weyden?

  97. 97
    Rabid fruitcake says:

    Jo’os van Cleve?

  98. 98
    Rabid fruitcake says:

    Gillis van Coninxloo?

  99. 99
    Fishy says:

    Did she ‘fact check’ the Balls lie yesterday?

  100. 100
    The Grim Reaper says:

    When Gordon Brown Stuff stole the pensions of millions of hardworking, tax paying savers many gave up on private pensions & switched to buy to let to ensure they wouldn’t be welfare dependent in old age.

    Now the Son of Gordon wants to punish these people too.

    Only the rich can afford to vote Labour.

  101. 101
    SIZE 14 CARBON FOOTPRINT says:

    Who would spend good money buying a house if they are going to move in a lot of moronic chavs next door ,because the only ones buying these ‘affordable homes’ in the end are local councils.

  102. 102
    The Grim Reaper says:

    Interesting how no one is calling the Scottish Nationalists a bunch of nationalist “Wacists”…………..

  103. 103
    Socialism is theft says:

    Could there be a connection between the massive increase in population over the last 50 years thanks to large scale immigration and the cost and availability of houses? It is easy to say build more houses, but where? In areas liable to flood? There is not just a shortage of houses there is a shortage of land which has made the cost of building HS2 so expensive.

  104. 104
    B3 says:

    You call THAT a missus??

  105. 105
    The Grim Reaper says:

    They are so desperate….they invent a course of action for Farage, speculate on it for days…..then if he doesn’t follow their advice, he’s “bottled it” or worse….

  106. 106
    The Growler says:

    Maybe their heads are made of sand

  107. 107
    Weird Ed says:

    Vote for me, vote for me:

    No welfare cuts
    Free Money
    No Bedroom Tax
    Smaller energy Bills
    Free food
    Cheaper rents
    Cheaper petrol
    Less inequality – I’ll confiscate the money earned by the rich and give it to you
    Fewer JCP sanctions
    The end of workfare
    Mansions for the poor (but no mansion Tax for Labour voters)

    Vote for me for your free share of other people’s money

  108. 108
    M says:

    Too much immigration flooding in & not enough infrastructure to cope , housing and rent are 1 part of this problem as Britain becomes an economic refugee camp for the eu
    Perhaps milliband should ask the eu for infrastructure assistance to house their economic refugees ?
    Unfortunately he hates the British people and won’t stand up for us so
    he’ll take all your money first ,
    THE MOTTO
    if you’ve got a gold tooth don’t smile at milliband

  109. 109
    jgm2 says:

    Don’t forget the 60bn quid of taxpayer’s money used to bail out Labour MP’s London property portfolios.

  110. 110
    SIZE 14 CARBON FOOTPRINT says:

    BULLY for the rest of fucking Europe , just because they do it does NOT mean we should , someone ,somewhere is paying for it through his taxes .
    You are just the kind of cretin that needs to live in a world of nanny state regulation unable to think or act in his own interest ,impotent unless led by the hand , the type who can barley wipe his own arse unless he receives instructions ,in short a labour voter.

  111. 111
    The Growler says:

    Don’t forget the Master wants you lot to vote Con, he has not given UKip his personal seal of approval (well he did at one time, but decided that Dave and his magnificent Cons was the way to go)

  112. 112
    The Growler says:

    GR does that mean that all the Jocks in England and Wales will be treated as foreigners, that will mean a lot of Leading Cons being deported to Scotland.

  113. 113
    I says:

    Oh look. The ruling class. What a fucking shower.

  114. 114
    Hack says:

    Looks like an interview without water for Myron. Did he forget his pencil?

  115. 115
    The Growler says:

    Yes and on old brown field sites where there were chemical works for many tears.

  116. 116
    The Growler says:

    Should be “years”

  117. 117
    Htched to UKIP and a woman says:

    We culd put all the homosexualists in huge out of town warehouses whre they can party 24/7 and each have a cottage of their own with en-suite facilities and communal golden shower rooms
    This would free up lots of desirable inner city properties
    Blacks could do all the moping up, live in portacabins and consider it a paradise
    One poof raping another would be legal as they like that kind of thing

    They would be in heaven

  118. 118
    Nigel Hitler says:

    Can I rely on your vote?

  119. 119
    The Growler says:

    Never mind, just think of all those large landowners who can profit from the sale of their land, all those speculators who will make lots of wonga, just the types Dave and his chums think are jolly decent chaps and good eggs.

  120. 120
    M says:

    In brief then
    To busy lining their own pockets to give a fuck about the long term health of the economy .
    Politicians get thier A levels at Westminster & do their PhD in Brussels

  121. 121
    Vlad the Loudhailer says:

    There is nothing so bad a politician can’t make worse and Milliband seems to be excelling at this.

  122. 122
    Anonymous says:

    “Rent controls are not going to work in practice.”
    But unfortunately, I work for someone who is not prepared/equipped to argue the merits of the case? Thank heavens we don’t live in a democracy that stops/starts where the floor coverings in the Houses of Parliament start/stop. Because then debates like the one on last evening’s Newsnight might break out. A discussion which examined the growing wealth gap across the nation, and the wisdom of allowing it to continue. Strange that no one pointed out that, those in poverty are unlikely to purchase the products produced by plutocrats. No matter how much they might aspire to.

  123. 123
    Me says:

    Interesting….if the Scots choose independence….will they need work visas to come to England if not yet a part of the EU and will their currency be legal tender here?

  124. 124
    The Growler says:

    Pause for a moment and think why the powers that be wanted to encourage immigration, a big motive is to import ready trained doctors, nurses, engineers, IT specialists, etc it costs a lot of money to fully educate and train such people, so cheaper to get ready trained and at the lower end, cheap labour eg in labouring type jobs and care workers.

  125. 125
    Oh, really? says:

    I someone has a one year contract to do a job away from home, where does Mr Milliband think they will live? In a tent?

    Ed Milliband. The unthinking politician.

  126. 126
    The Critic says:

    Indeed- in 1915 as a wartime measure. State interference in wartime is not unusual and probably necessary.

  127. 127
    The Critic says:

    Excellent -Ed wipes out the construction industry in one fell swoop. He really has been a star pupil for Hollande.

  128. 128
    The Critic says:

    Five new towns -she doesn’t have the physique for that degree of hard work surely?

  129. 129
    Anonymous says:

    He tells so many Fishy. Which one are you concerned about?

  130. 130
    Mathers says:

    So a flood of ex rental properties swamp the market … increasing supply and reducing prices. Sounds like a good thing if you’d rather buy than rent.

  131. 131
    Another Welsh Windbag says:

    Pontyclun van Hire?

  132. 132
    Cinna says:

    Yes indeed. As a young man I worked in Manchester for what was then Britain’s largest chemical manufacturer. I know what went on there. The site closed in the 80’s and is now covered with houses.

    I wouldn’t have a house there, even if I got one for free.

  133. 133
    Gladis says:

    …..I,ve never had one done to me!

  134. 134
    Anonymous says:

    No brain, so how the hell is it possible for him to think?

  135. 135
    Cinna says:

    Yes we know what Labour’s policy was, and is. You also forgot to mention that Labour’s immigration policy forced the wages and salaries down of the population at at large. Thus contributing to Mad Eddie’s “cost of living cwisis”.

    And another thing; I cannot speak about doctors and nurses, but as for “engineers” a lot of them that Labour allowed were and are complete numpties.

  136. 136
    Cinna says:

    Yes and as a result of strikes by all the bolshie Scots shipbuilders. Another piece od Scottish trade unionist treachery in wartime.

  137. 137
    Crowded Isle says:

    ……Reduce the insane amount of people here,stop subsidising fat cat landlords with benefits of taxpayers money,they should not be benefit recipients,inspect rented property and confront the landlord if it is sub standard,with sanctions! ..Public Health Inspectors should inspect every rented property,public and private,then,check out the sheds!

  138. 138
    No plans, no comment says:

    Other countries that are not tiny islands with a policy of allowing in the other 3 billion people living anywhere on the planet?

  139. 139
    Fabricant says:

    Boris, how could you?

  140. 140
    Crowded Isle says:

    …You would almost think it was deliberate !

  141. 141
    Cinna says:

    So would their share of the vote.

  142. 142
    Cinna says:

    Yep, that why we love UKIP to bits.

  143. 143
    Cinna says:

    Well, if he did have a brain then he’d be really dangerous.

  144. 144
    Village Idiot says:

    …..We have been in a disasterous state since Windrush, 1975 EU vote and the years of terror, 1997-2010 anno domini!…Nothing to lose anymore,fresh start and all that,Augeun Stables or summut!

    1967, I looked out,and I saw, “Great Britain”….
    2014, I looked out ,and I saw, “Little Britain”…..

  145. 145
    Village Idiot says:

    …You forgot to say, UKIP, the only party to want home rule and an exit from the merkelisation project,the EU!

    We want our country back and the only choice is UKIP,as the others want to remain at merkells, apron strings!….Political correctness no longer works,nor does the accusation of Racism,nor the bigot label dished out to someone with a different view!

  146. 146
    Edmund says:

    A buy-to-let mortgagee is not “investing”. They are borrowing money against an asset, hoping to profit through rental income and asset appreciation. This borrowed money is created out of thin air by the magic of fractional reserve banking. As the Government via the BoE is ultimately in charge of creating this money they have every right to attach strings to it. I don’t agree with rent controls for buy-to-let (unworkable) but it would be very easy to apply a lower fractional multiplier to buy-to-let mortages making them less attractive to lenders.

  147. 147

    Yes but remember the posters here once say a picture of a supply/demand curve and believe that is all they need to know about economics. Obviously if these landlords are regulated they will simply move the properties to less regulated countries.

  148. 148

    Yes. Land and buildings will start to disappear.

  149. 149
    Anonymous says:

    Greed and the City, the rip-off of Post Office share, NHS sell-off, the danger of a Third Would War, winter flooding – all the result of mass, uncontrolled immigration? Sorry, winter flooding, now was not that due to the gays?

  150. 150
    By the way says:

    Does not the queen have any land (or rooms) to spare?

  151. 151
    Neocon is a stupid word. says:

    Chris Smith didn’t help.

  152. 152
    Anonymous says:

    Years ago the BMP use to claim that ‘they are all just flooding in’. Now UKIP use the more modern, ‘immigration on the massive scale’. Sadly, with their over-blown scare-tactics, it seems that UKIP are fooling most of the people – enough of the time. But time will tell.

  153. 153
    The Growler says:

    And Maggie never did that sort of thing?

  154. 154
    The Growler says:

    Sorry Tarquers old boy, there no provision divorce allowed for, so I’m afraid you are stuck with lover boy

  155. 155
    Anonymous says:

    An attempt to help people keep in homes – what a bloody stupid idea. As if the likes of you have to worry about the Cost of Living? .

  156. 156
    Anonymous says:

    UKIP policy in one bite. And it should be not enough for their core-voters?

  157. 157
    L Gross Man says:

    And what kind of a house does this upper-class prick live in?

  158. 158
    Anonymous says:

    And yet, under Right to Buy, it was the Tories that ripped-off the taxpayers – by almost giving away state council housing assets. How’s that for using public money to buy working-class votes?

  159. 159
    Anonymous says:

    That said, given the fate of the LibDems, Charles Kennedy does not seem that bad. Yes he had a problem with drink – but did not Churchill?

  160. 160
    broderick crawford says:

    Is this woman a physical as well as a cerebral shapeshifter ?

    If so she ll need to be crosshaired by David Icke and categorised with all those other Bilderbergers who turn into lizards at the dead of night in Bohemian Grove once a year.

  161. 161
    broderick crawford says:

    Yes and about that Eddie …. where exactly DID the family
    money come from ?

    After all one doesn t get very fat on a lecturers salary or indeed the odd few royalty cheques from book sales .

    Conversely there was certainly a flourishing black market in many things during the war …..

  162. 162
    Anonymous says:

    If you follow the Adam Smith institute link to ‘Planning Controls’ you can read how more of Surrey is Golf Courses than housing, thanks to ‘Green Belt’ controls. Everything the government touches turn to crud.

  163. 163
    Anonymous says:

    They are hoping to profit through highly leveraged asset appreciation i.e. investing. House prices are so high now that the returns from renting are dismal.

  164. 164
    Anonymous says:

    If we stopped subsidising BTL with tax breaks, rents and prices would both fall. MPs get enough support already.

  165. 165
    Anonymous says:

    Agents don’t set the rent, the market does. Putting fees into the open as part of the monthly rental will increase competition and transparency.

    It is a pity Labour didn’t leave it there, or least read the excellent DCLG enquiry into the private rented sector.

  166. 166
    Anonymous says:

    Yes. Inflation is not caused by prices rising (ex nihilio), rising prices are a result of the devaluation of money by governments and central banks printing more and more of it.
    Gormless Ed is hoping that forbidding prices to rise will prevent prices from rising despite this devaluation of the money.
    Problem is it’s not going to work. There are a countless number of failed attempts to do this throughout history, from Diocletian to Mugabe.

  167. 167
    A Former Assistant Secretary of the US Treasury says:

    Looks like the West are now going to conscript Ukraine’s kids for yest another Neocon war.

    Ukraine to restore conscription

    http://www.telegraph.co.uk/news/worldnews/europe/ukraine/10802437/Ukraine-to-restore-conscription-after-admitting-it-has-lost-eastern-front.html

    How long will it be before they want your kids?

  168. 168
    SIZE 15 CARBON FOOTPRINT says:

    But the inflation is caused by the devaluation of money simply raising prices BECAUSE of inflation must in itself be inflationary.


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Time For Greece to Leave Eurozone | Allister Heath


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Boris on British Jihadis. Apparently based on MI5 intel:

“If you look at all the psychological profiling about bombers, they typically will look at porn. They are literally w***ers. Severe onanists. They are tortured. They will be very badly adjusted in their relations with women, and that is a symptom of their feeling of being failures and that the world is against them. They are not making it with girls, and so they turn to other forms of spiritual comfort — which of course is no comfort.”


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