I'm really hating this country now, I have never felt so depressed in all my life. I'm hearing now 7p on fuel duty now!!! I'm just sick of it all. My mortgage isn't due until August 2025, but I'm very worried.
I know how you feel, but most countries are in the same position. If your mortgage renews next year, you’re lucky because hopefully rates will come down by then. 🙏 Thank you for your comment and good luck
People on PAYE also work very hard and are mostly poorly paid, have very few rights and zero ability to manage their taxes etc... and more often then not their work is productive work and not just sitting on assets and doing nothing. Top rate of Income tax should come down to meet capital gains tax and if not then what's wrong with capital gains going up? Personally I think both taxes are theft and should both be abolished. You get taxed on what you spend already, no need to tax anyone's income twice.
Thanks for your comment. Yes, taxes are too high. My argument on capital gains taxes is that they are a disincentive to invest. Investing is not just about sitting on assets. It’s about building businesses and putting your money at risk. Being a landlord is hardly sitting on assets, believe me. I agree that people on PAYE, I’ve not always got the best deal, but they’re not putting their necks on the line in the same way that the business owner is. Some of the highest earners in the land are actually on PAYE, and even working for the government and various quangos. Senior executives in councils and NHS trust and well over six figure salary is and have a gold plated pension scheme, plus job security that is not afforded to those working in the private sector. The reason they take the tax at source is that most people would spend the money and not have anything left to pay the tax at the end of the year 😊
The real inflation rate is way higher than the official measure Interest rates need to stay at these levels (and they are at historically normal levels anyway) I feel sorry for people who have over borrowed but that’s a life lesson that people need to learn
I agree that the real rates and actual cost of living is higher, however, that is the official rate the Bank of England are working on and it is well below their 2% target. I think most people have been sensible with their borrowing compared to previous rate hikes. Much lower LTVs. I believe rates are too high. ECB lowered rates to 3.25% yesterday. Thanks for your comment.
@@charleskellymoneytipspodca9121 we will have to agree to disagree (I think the EU is actually battling deflation due to the impending energy crunch coming)
Mortgage rates are determined by the 10 year and somewhat the 30 year bonds yields and when short-term interest rates drop at the short end, the long end (10y) rises due to inflation expectations. Long story short, banks are raising mortgage rates because the 10 year is going up. Drop the rates too fast = resurgence in inflation potential Drop the rates slow and steadily as not to force the long end up = stagnation Not being able to drop the rates = deflation in asset valuations due to affordability mismatch. House prices are nominally valued at 0% rates so unless affordability changes (max mortgage lend capacity = salary *multiple) with either long end plummeting or income suddenly spiking (don't think businesses are inclined), the outcome for the market is either: 1) Stagnation and higher yields for which people wont be able to afford 2) Reinflation of goods and money printing ( 3) Deflation (margin calls leading to asset sales, panic selling and housing price crashes)
I'm really hating this country now, I have never felt so depressed in all my life. I'm hearing now 7p on fuel duty now!!! I'm just sick of it all. My mortgage isn't due until August 2025, but I'm very worried.
I know how you feel, but most countries are in the same position.
If your mortgage renews next year,
you’re lucky because hopefully rates will come down by then. 🙏
Thank you for your comment and good luck
People on PAYE also work very hard and are mostly poorly paid, have very few rights and zero ability to manage their taxes etc... and more often then not their work is productive work and not just sitting on assets and doing nothing. Top rate of Income tax should come down to meet capital gains tax and if not then what's wrong with capital gains going up?
Personally I think both taxes are theft and should both be abolished. You get taxed on what you spend already, no need to tax anyone's income twice.
Thanks for your comment.
Yes, taxes are too high.
My argument on capital gains taxes is that they are a disincentive to invest.
Investing is not just about sitting on assets. It’s about building businesses and putting your money at risk.
Being a landlord is hardly sitting on assets, believe me.
I agree that people on PAYE, I’ve not always got the best deal, but they’re not putting their necks on the line in the same way that the business owner is.
Some of the highest earners in the land are actually on PAYE, and even working for the government and various quangos.
Senior executives in councils and NHS trust and well over six figure salary is and have a gold plated pension scheme, plus job security that is not afforded to those working in the private sector.
The reason they take the tax at source is that most people would spend the money and not have anything left to pay the tax at the end of the year 😊
How can we believe these figures that they say? The supermarket prices say otherwise. Wouldn’t it be in their best interests to lie?
Of course you are right! Everyone knows it’s a lie!!!
The real inflation rate is way higher than the official measure
Interest rates need to stay at these levels (and they are at historically normal levels anyway)
I feel sorry for people who have over borrowed but that’s a life lesson that people need to learn
I agree that the real rates and actual cost of living is higher, however, that is the official rate the Bank of England are working on and it is well below their 2% target.
I think most people have been sensible with their borrowing compared to previous rate hikes. Much lower LTVs.
I believe rates are too high. ECB lowered rates to 3.25% yesterday.
Thanks for your comment.
@@charleskellymoneytipspodca9121 we will have to agree to disagree (I think the EU is actually battling deflation due to the impending energy crunch coming)
The Treasury modelling will show their policies will fail. The consequences will be less investment and exit of capital.
@@allykhan8594 already failing
Labours policy threats is the causality.
@@allykhan8594 👍
My Prediction last 3 years will be Nissan will pull out!
@@allykhan8594 hope you’re wrong
Ok. I agree that the EU is a different animal.
What would you do if you were offered a peerage or a seat in the House of Lords?
Mortgage rates are determined by the 10 year and somewhat the 30 year bonds yields and when short-term interest rates drop at the short end, the long end (10y) rises due to inflation expectations. Long story short, banks are raising mortgage rates because the 10 year is going up.
Drop the rates too fast = resurgence in inflation potential
Drop the rates slow and steadily as not to force the long end up = stagnation
Not being able to drop the rates = deflation in asset valuations due to affordability mismatch.
House prices are nominally valued at 0% rates so unless affordability changes (max mortgage lend capacity = salary *multiple) with either long end plummeting or income suddenly spiking (don't think businesses are inclined), the outcome for the market is either:
1) Stagnation and higher yields for which people wont be able to afford
2) Reinflation of goods and money printing (
3) Deflation (margin calls leading to asset sales, panic selling and housing price crashes)
Thanks for your comment and explanation.