Boom to Bust : Mortgage Pressures

“I will not allow house prices to get out of control and put at risk the sustainability of the recovery.”

Gordon Brown, 1997 Budget Statement.

The data for mortgage repayments as a proportion of post-tax income has just been published by the Bank of England. This shows how much of your salary goes towards keeping the roof over your head. With tax thresholds too low, property prices too high and interest rates rising the pain is starting to show, not just in devastating home repossessions, but in reduced disposable income for all. Whereas in the nineties less than a tenth of your take-home salary on average went to service the mortgage, it is now, after a decade of Brownite economic stewardship, nearly one seventh of your net income. Brown has not kept his 1997 promise…

Source : August 2007 Bank of England Inflation Report.




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Jeremy Corbyn:

“The blame is with the terrorists, but…”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.

Facebook

New Dates for Andrew Neil Interviews New Dates for Andrew Neil Interviews
Tory Lead Down 19 Points During Campaign Tory Lead Down 19 Points During Campaign
Corbyn: Foreign Policy A Cause of Manchester Attack Corbyn: Foreign Policy A Cause of Manchester Attack
Sneering Thornberry Sneering Thornberry
Ministers Wheeled Out to Defend Ditched Care Policy Ministers Wheeled Out to Defend Ditched Care Policy
Watch: Crick Roasts “Weak and Wobbly” May Watch: Crick Roasts “Weak and Wobbly” May
Protester Arrested at May Wrexham Visit Protester Arrested at May Wrexham Visit
Clegg Spinning Brexit Doom Report Clegg Spinning Brexit Doom Report
Sunday Shows Sunday Shows
Read Tory Manifesto In Full Read Tory Manifesto In Full
Green Leaders Cringe Skit Green Leaders Cringe Skit
Never Ending Tory Deficit Reduction Horizon Never Ending Tory Deficit Reduction Horizon
LibDem Collapse Explained LibDem Collapse Explained
Taxpayers’ Alliance Updates Iconic Tory Poster Taxpayers’ Alliance Updates Iconic Tory Poster
Cult of Corbyn Cult of Corbyn
“Labour is Chocolate Gateau: Too Much Makes You Sick” “Labour is Chocolate Gateau: Too Much Makes You Sick”
Labour Election Broadcast Star’s “Tax Efficient” Accounting Labour Election Broadcast Star’s “Tax Efficient” Accounting