Translation: “Tory MPs with large rental property portfolio are now facing 8% BTL mortgages, and want the government to step in”
I think they’re right - this is a ticking time bomb and even if the mortgage market comes under control in the next few months, rate are going to be high all the way through to the next election in Autumn/Winter 2024.
An economy under pressure, with people having to sell their homes in a depressed property market or worse families having their homes repossessed - I can’t see the tories coming back form this.
They’re hoping they can hike rates all this year before slashing them to juice the economy and announce tax cuts before the election
They’re hoping that but it’s looking increasingly unachievable. In particular the time bomb is people who fixed at 1-2% but next year they’ll be facing deals new deals next year that are looking like 5-6% at a minimum barring a rapid cooling of inflation.
But yeah, it’s not impossible they can benefit from an improvement in the economy and slashing taxes. I just don’t see it working personally even if they can get into a position to do it.
Losing 4 by elections on the bounce should help the death spiral as well.
They’ve got nothing to show for 13 years of governing. Anything they claim to be fixing is something they broke lol
Yeah hopefully it will.
Hard times create strong people.
Strong people create good times.
Good times create weak people.
And, weak people create hard times.For the unaware, this is a far-right dog whistle.
Only if that’s what you wanted it to be.
When I wrote it, I saw WW2 as the hard times, and the generation that won is as the strong people. Those people who forged a number of social reforms, social safety nets, and technological innovations after the war. Yes, I know things were far from perfect then either, but that generation did a lot of good.
Correspondingly, the weak people are the greedy, ultra capitalist boomers taking advantage of those schemes and then repealing them. The weak people are the ultra nationalist, anti-LGBT bigots too small minded to accept differences and grasping to traits like their skin colour for superiority because they don’t have the will or strength of mind to actually accomplish anything. The weak people are those not strong enough to stick to any moral or ethical code, too scared of the world to do the right thing so instead they lash out.
It’s those weak people driving populist politics, enabling corporate greed, fueling the Russian war effort. All of which is coming together to create results like this article.
