Brexit, for once some facts.

[oldtom]

Who is going to break it up?
the shared aims of its member countries will evolve over time, I expect treaty changes from time to time but not its dissolution. The natural geography favours its existence.

I'm bound to say Trex, I agree with every word of that. There may be many hiccups but mainland Europe countries fully committed to the Union have invested too much to let it all just fritter away.

Undoubtedly, Germany as a prime example, could still enjoy a nice, mutually profitable trade with many countries by exiting the EU, but they will instead ensure the survival of the institution even though it probably costs them more than any other nation.

I remember times when British ministers told the nation that it was essential for Britain not only to be part of Europe but to be at the heart of Europe. It's a shame they never showed any real willingness to ensure we were in there. British intransigence and flat refusal to join a common currency just illustrated perfectly how arrogant the British are.

Tom

 

[derf]

Everything you have said is hypothetical and nothing has happened yet which was not expected. So why don't you stop talking the country down.From your previous posts I understand you have gone back to live in France and I wish you well. I am sure that under Hollande everything there is wonderful.

I can only conclude that you don't read the business news,and do not have investments. I suggest you have a look. Rather a lot has happened,notably to the pound. Yup, I've moved to France. I'm in the south. The Riviera,recent tragedy aside,it has a human,communal atmosphere I didn't experience amongst the xenophobia in brexit UK. I have property in UK,pay quite a lot of tax there,but more than that I don't live by narrow minded nationalist preconceptions,so your jibe about me having left doesn't really have any bearing on my life.

 

[gray198]

I can only conclude that you don't read the business news,and do not have investments. I suggest you have a look. Rather a lot has happened,notably to the pound. Yup, I've moved to France. I'm in the south. The Riviera,recent tragedy aside,it has a human,communal atmosphere I didn't experience amongst the xenophobia in brexit UK. I have property in UK,pay quite a lot of tax there,but more than that I don't live by narrow minded nationalist preconceptions,so your jibe about me having left doesn't really have any bearing on my life.

I couldn't care less where you live I'm just sick of hearing this country being run down by negative people

 

[derf]

I couldn't care less where you live I'm just sick of hearing this country being run down by negative people

Okidokes,here's my public service broadcasting for the day. Get out of denial. I have loads tied up in UK. I have no reason to talk the economy down. It's not anyone being negative. Delusional thinking is what caused the brexit vote. It can cause more damage. If you have to practice some flavour of jingoistic supernationalism,why not take-up military reenactment? You can run around in a uniform and have fun and not destroy the economy for everyone else.

 

[tillson]

Yup, I've moved to France. I'm in the south. The Riviera,recent tragedy aside,it has a human,communal atmosphere I didn't experience amongst the xenophobia in brexit UK. I have property in UK,pay quite a lot of tax there,but more than that I don't live by narrow minded nationalist preconceptions,so your jibe about me having left doesn't really have any bearing on my life.

Sounds like you will be much happier in France. Good luck.

 

[(NoLongerRegistered#15675)]

Sounds like you will be much happier in France. Good luck.

Until he tries to sell his house in France. Properties throughout South have become harder and harder to sell , combined with fact immobiliers charge 9%( we got it down to 5%, just sold two in Derbyshire at 1%)..some good news tho...if you do sell repatriating cash at moment is great. Just took us two years to sell ...brexit made us 19% with weak pound.
Mind if land is involved ( a big garden, allotment or field) you,ll have 3 months to wait for cash..whilst government decide if they want to buy the land ? ! ( seriously) Then there are notaire fees to pay..another 9%...oh and if you,ve made any cash after that they hit you with capital gains.. Yes France is great.. Well its sunny. Oh and if you had a survey when you bought, bin it now. Its not worth paper its written on..and another thing. Make sure your land is very well fenced off..our Marie decided half an acre of our land was owned by village...Pinched it back whilst we were in UK..hence the sale and about £15 k thrown away going to court. Yep he,ll love France.
Couldn't find any eu legislation throughout this French were willing to follow.
Loved time there tho, people friendly...windy sunny , food great. Its not uk tho..takes about 5 years. That's expectancy of ex pats in south France. I did 9.
And before somebody says why didn't you check deeds or landregistry on purchase. You cant. Notaire holds them, ones he had showed we,d bought land. The ones Marie held showed Village did...now guess who they believed..

If I were you derf I,d buy the suit of armour. You,ll have loads more fun and it will be cheaper.

Ps my story isn't isolated. Problems like this are common. One set of friends bought land already with planning permission. They planned on building 2 years before retirement. ( was to be in 5 years) All fine...6 months later they received notification their planning permis ran out in 2 months. Didn't have time to build, land dropped in value to tune of £40k. Another couple we know had a house built. On taking possession many faults were found. They took builder to court, he arranged bankruptcy. Firm went. He set up in a different name. House has now stood empty 4 years, cant be used pending investigation further court cases. It must be insured and tax fonciere must be paid..if not it becomes uninhabitable ( for good)under French law...(that's why you see so many uninhabited properties in France, well that and their odd probate laws) This couple are renting and paying for this one standing empty.
I,m not making any of this up, all 3 from our small village. Not making a point but all three cases mentioned are ex pat Brits.

Derf...I,m an out voter and the only delusional thinking I,ve ever done was buying a bloody house in France. Good luck with yours.

 

[trex]

flud, no wonder you are so embittered about France. It's just a case of knowing the laws in France. Yes, French laws are complex but the system is transparent. Your French property must have been checked and measured by a 'géomètre officiel' and marked by 'bornes cadastrales' so boundary disputes between neighbours are usually avoided. Your friend should have renewed his 'permis de construire' himself at the mairie, a simple process. Expats can avoid lots of problems with French administration simply by asking their French neighbours. The French are generally very well versed in the arcanes of the local administration.
It's nothing to do with our relationship with the EU though.

 

[oldgroaner]

I have this image in my mind of you venturing out of your house wrapped in tinfoil with a collider on your head, to protect yourself from the governments brain washing rays.

I'm sure you don't. Trilby, tweed jacket, preposterous moustache and a stout pair of brogues like the rest of us.

Wake up Tillson, and look at what is actually happening in front of you, then try to imagine there isn't a purpose behind what is going on.
Change as big as this one is no accidental event.

 

[(NoLongerRegistered#15675)]

flud, no wonder you are so embittered about France. It's just a case of knowing the laws in France. Yes, French laws are complex but the system is transparent. Your French property must have been checked and measured by a 'géomètre officiel' and marked by 'bornes cadastrales' so boundary disputes between neighbours are usually avoided. Your friend should have renewed his 'permis de construire' himself at the mairie, a simple process. Expats can avoid lots of problems with French administration simply by asking their French neighbours. The French are generally very well versed in the arcanes of the local administration.
It's nothing to do with our relationship with the EU though.

Agreed trex re eu..
Land disputes go on everywhere..just going through one in Uk ....communal land/ private..with mistakes at Land registry. They are more frequent in France and if local mare changes use, needs land for development they get it. Which is what happened with friend. They were simply not allowed to extend permis. End of..
Point being in UK we have culture of following proceedure to the letter. I,ll assure you thats not case ( often to benefit mind) in France.
You,ll find rules galore covering every eventuallity...getting them put in place is rather different.
For example... When registering foreign vehicle it needs matriculation document. By eu/ French law it " must" be accepted in any language within eu. Yep, great, try telling local mare's office.. " shrug of French shoulders, hand it back..

On the other hand, place I take enduro motorbike to had a great sign erected banning motor vehicles. On return to van local police( not gendarme) had parked beside me. They had a look around bike, we exchanged pleasantries. I asked about sign." Ignore it".. So I cuts both ways.

 

[Kudoscycles]

I couldn't care less where you live I'm just sick of hearing this country being run down by negative people

The vote Brexit appears to me to be the most negative action that the people of the U.K. have ever executed.
It is not surprising that those who have to deal with the resultant crisis( Hammonds word) are negative towards the vote.
If I thought Brexit was going to happen I would be now planning for price rises later in the year,probably averaging 8%,it looks like the £ v $ may have a new level at 1.30.,at the moment it is not necessary to raise Kudos e-bike prices because the stock will last until 2017,but I still think that Brexit won't happen,especially when Hammond realises the negative effect of the tax take later in the year.....what does he mean when he says he is going to 'reset' the economy?
Hammond daren't put up corporation tax,he won't want to increase vat,so where is he going to get the money from,Brexit is going to be expensive to implement, could he consider increasing income tax?
Workplace pensions have pretty much killed off any chance of pay rises over the next couple of years,so I hope the working poor are ready to accept a drop in their living standards,but these people mustn't be negative because we are all leavers now and must be happy to be part of this Brexit experiment.
I don't think that Leavers voted for a drop in their living standards,they were blinkered by immigration.
KudosDave

 

[trex]

.....
what does he mean when he says he is going to 'reset' the economy?
Hammond daren't put up corporation tax,he won't want to increase vat,so where is he going to get the money from,Brexit is going to be expensive to implement, could he consider increasing income tax?
Workplace pensions have pretty much killed off any chance of pay rises over the next couple of years,so I hope the working poor are ready to accept a drop in their living standards,but these people mustn't be negative because we are all leavers now and must be happy to be part of this Brexit experiment.
I don't think that Leavers voted for a drop in their living standards,they were blinkered by immigration.
KudosDave

a quick fix is to lower employee's NI contribution.

 

[gray198]

Okidokes,here's my public service broadcasting for the day. Get out of denial. I have loads tied up in UK. I have no reason to talk the economy down. It's not anyone being negative. Delusional thinking is what caused the brexit vote. It can cause more damage. If you have to practice some flavour of jingoistic supernationalism,why not take-up military reenactment? You can run around in a uniform and have fun and not destroy the economy for everyone else.

What the hell are you talking about????

 

[oldgroaner]

What happened to the Notion that Osborne was "Spreading Project Fear" by saying an emergency budget would be necessary?
Lets face is every statement and claim made by the leave camp have without exception proved to be lies.
And the process hasn't even started yet, has it?

 

[Kudoscycles]

a quick fix is to lower employee's NI contribution.

Last time the Torys did a quick fix,they temporarily lowered vat from 17.5% to 15.0 % but to balance the coffers they put up NI contributions,I don't think they ever came down again.
KudosDave

 

[trex]

changing VAT is expensive for everyone, retailers don't like that because they have fixed price points. Deduct less NI is the easiest way to put extra £100 in the pocket each month for those who are on PAYE. The extra money gets spent right away, increasing economic activity and encourage employers to take on staff. Cutting basic income tax rate does the same.
Borrow to invest (eg building new houses) will take years for projects to start.
Quantitative easing will reduce interest rate, increase bank lending but will take 2-3 years to produce tangible return.
Reduce CT will take 5 years to produce tangible return.

 

[flecc]

Until he tries to sell his house in France. Properties throughout South have become harder and harder to sell , combined with fact immobiliers charge 9%( we got it down to 5%, just sold two in Derbyshire at 1%)..some good news tho...if you do sell repatriating cash at moment is great. Just took us two years to sell ...brexit made us 19% with weak pound.
Mind if land is involved ( a big garden, allotment or field) you,ll have 3 months to wait for cash..whilst government decide if they want to buy the land ? ! ( seriously) Then there are notaire fees to pay..another 9%...oh and if you,ve made any cash after that they hit you with capital gains.. Yes France is great.. Well its sunny. Oh and if you had a survey when you bought, bin it now. Its not worth paper its written on..and another thing. Make sure your land is very well fenced off..our Marie decided half an acre of our land was owned by village...Pinched it back whilst we were in UK..hence the sale and about £15 k thrown away going to court. Yep he,ll love France.
Couldn't find any eu legislation throughout this French were willing to follow.
Loved time there tho, people friendly...windy sunny , food great. Its not uk tho..takes about 5 years. That's expectancy of ex pats in south France. I did 9.
And before somebody says why didn't you check deeds or landregistry on purchase. You cant. Notaire holds them, ones he had showed we,d bought land. The ones Marie held showed Village did...now guess who they believed..

If I were you derf I,d buy the suit of armour. You,ll have loads more fun and it will be cheaper.

Ps my story isn't isolated. Problems like this are common. One set of friends bought land already with planning permission. They planned on building 2 years before retirement. ( was to be in 5 years) All fine...6 months later they received notification their planning permis ran out in 2 months. Didn't have time to build, land dropped in value to tune of £40k. Another couple we know had a house built. On taking possession many faults were found. They took builder to court, he arranged bankruptcy. Firm went. He set up in a different name. House has now stood empty 4 years, cant be used pending investigation further court cases. It must be insured and tax fonciere must be paid..if not it becomes uninhabitable ( for good)under French law...(that's why you see so many uninhabited properties in France, well that and their odd probate laws) This couple are renting and paying for this one standing empty.
I,m not making any of this up, all 3 from our small village. Not making a point but all three cases mentioned are ex pat Brits.

Derf...I,m an out voter and the only delusional thinking I,ve ever done was buying a bloody house in France. Good luck with yours.

All of your criticism here is what makes the French system so much better than ours. They merely have homes as what they should be, to live in. Our idiotic system allows people to have homes as investments. That has ended up where we are now with a serious housing shortage and hugely overpriced accommodation, whether renting or buying. Most other EU countries get this so much more right than we do, Germany especially.
.

 

[tillson]

Our idiotic system allows people to have homes as investments. That has ended up where we are now with a serious housing shortage and hugely overpriced accommodation, whether renting or buying.

I think the buy to let market has been driven to some extent by low interest rates. Add to that banks are steeling the tax relief off ISAs and there aren't many places for savers to invest.

Housing has given me a good return and boosted to my retirement plans. I think the property market is a very over inflated bubble though with people borrowing against the increased value of one property to finance the next house purchase. Some people I know have 3 or 4 houses in a lending chain of this nature. When the bubble bursts, it's going to start a chain reaction that can only end in tears. They are seriously exposed to losing everything they have.

I thought after the last financial crisis banks were supposed to be lending more responsibly. I can't see much evidence of it happening.

 

[Kudoscycles]

Personally I think Buy to Let is pretty much finished in the south ,the value of the properties is now so high it's impossible to get a good rate of return and government meddling has increased the overheads considerably.
When I first started property renting the house price averaged £30k and with HMO you could clear £8k rent. Now you have to pay £200k to achieve maybe £10k.
Nigel Lawsons budget which allowed residential property into BES companies was unbelievably generous with full tax relief on borrowings and capital gain,Labour termed it sponsored Rachmans at the time,we built a street of houses ,sold in 2004. The only reason BES companies failed was the rip-off charges that pension and insurance led schemes ripped off the investors,doing it yourself was a very safe business.
I smile when I see these TV programmes that say....it's a good investment,under the hammer is the worst offender....6 months hard graft,with no allowance for your own labour,produces an £8 k capitalprofit on say £135k property,with a rent roll of 5.8%. Anyone who has been involved in property knows that you only have to have a boiler failure or a leak in the roof and such rent is easily lost and now you can't get tax relief on interest payments government has pretty much killed buy to let.....having said that I don't think there are many alternatives these days.
KudosDave

 

[Kudoscycles]

There is a TV programme at 6pm on BBC2 today....Brexit one month on.
I hope it is unbiased.
KudosDave

 

[tillson]

Personally I think Buy to Let is pretty much finished in the south ,the value of the properties is now so high it's impossible to get a good rate of return and government meddling has increased the overheads considerably.
When I first started property renting the house price averaged £30k and with HMO you could clear £8k rent. Now you have to pay £200k to achieve maybe £10k.
Nigel Lawsons budget which allowed residential property into BES companies was unbelievably generous with full tax relief on borrowings and capital gain,Labour termed it sponsored Rachmans at the time,we built a street of houses ,sold in 2004. The only reason BES companies failed was the rip-off charges that pension and insurance led schemes ripped off the investors,doing it yourself was a very safe business.
I smile when I see these TV programmes that say....it's a good investment,under the hammer is the worst offender....6 months hard graft,with no allowance for your own labour,produces an £8 k capitalprofit on say £135k property,with a rent roll of 5.8%. Anyone who has been involved in property knows that you only have to have a boiler failure or a leak in the roof and such rent is easily lost and now you can't get tax relief on interest payments government has pretty much killed buy to let.....having said that I don't think there are many alternatives these days.
KudosDave

Pretty much the same here. £130K will earn £7.2K in gross rent (5% ish). Property values are peaking too, maybe even falling back a bit after the rush to buy pre April.