Madness, irrelevance and illusions!

Yes that just about sums up the Autumn statement and Spending Review announced on Wednesday.

Apart from the obsession with shrinking the state and cutting money for the poor the Chancellor also highlighted some other rather unpleasant traits.

Building more and more – yes the Chancellor is obsessed with building more houses. Now he might like to give the impression that all the house building will help those in need and reduce house prices. But he’s either very clever or plain disingenuous. Building more houses to keep pace with increased population growth – largely from the European Union – will not ‘solve’ the housing ‘crisis’!

As for the increased stamp duty on second homes and buy to let well the extra cost of purchasing a second home or holiday let will hardly dissuade most potential investors who either have sufficient income or resources to pay the extra cost. It will not lead to less real demand for such properties.

In reality the Chancellor is giving the impression of doing something useful when he is not. [Extra revenue yes but that is not the answer to the second home problem].

Its all complete madness!

So there we are a clever but ultimately poor Chancellor!


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