NEVER ASSUME AN IDEA IS TOO STUPID FOR LABOUR TO SUGGEST IT

There are fits of deceit which terrify: you open your ears, you rub your eyes, not knowing whether you are awake or asleep. When the imperturbable individual to whom you owe such assertions starts to speak, you are unsure whether the man has not received some authority from on high giving him the power to recreate or annihilate the truth.

Watching Andrew Marr interview, John McDonnell’s revealled his party's latest bright idea, which is that private sector tenants should be granted the right to buy the homes they are currently renting for below the current market price.


On hearing his twisted logic, one could only surmise that this ‘bright idea’ is yet another example of the Shadow Chancellor and his team are lacking in the incapacity to think through an economic problem; or more frighteningly, it’s another veiled step in crippling the UK economy!


Entirely unchallenged by the arrogant and totally biased Marr, Mr McDonnell said he wanted to “tackle the burgeoning buy-to-let market” to make it easier for workers to buy the homes they live in.

He suggested the sum paid by tenants would not necessarily be the market price! “You’d want to establish what is a reasonable price, you can establish that and then that becomes the right to buy,” he said. “If elected the government would set the criteria. I don’t think it’s complicated.”


So, following on from Gordon Brown’s Pension grab in 1997, where he abolished the tax relief pension funds earned on dividends from stock market investments, which crippled the return on British pensions over the last few decades, John Macdonell now has set his evil Marxist eyes on those hard working people who have reinvested their retirement pots by buying into the local property market.


Let’s take an example: Let’s assume that a chap who retired in 2000 with a pension pot of £100,000; decided not to rely on his bank’s interest rates going up, and instead decided to buy a small terraced house in Dukinfield for £80,000. He rented it out to a young couple, charging them £200per calendar month. That investment returned a reasonable annual income of £24.000pa. (of which he pays income tax.)


Over the next 19years that small terraced house, is now valued at £145,000. However, if McDonell’s policy ever came into force, the new Labour government could revalue that house at a mere £100,000, and force the property owner, (the Landlord) to sell it at that price to the renter.

The result of this would penalise the original investor by totally cutting off his monthly income (£200pcm) whist reducing his appreciating investment down to £100,000.


Should the ex-renter, now the house owner; assuming he’s got half an mathematical brain, he could immediately put that property back on the open housing market at the current market value of £145,000 to £150,000, and upon its sale, pay off his mortgage (even at a 100% lending rate) and walk away with a cool £45,000/£50,000 grand in his pocket, and look for another house to rent!


Also, Tameside Council would also suffer on this brilliant ‘new idea’ as the current Council Tax banding based on the government’s re-valuation, would fall from E to F - resulting in an annual loss to the council of £387.67!


As we read weekly from our Labour councillors - they are quick to call the current government for cutting their central government grants, but he’s one coming from their own party!


One wonders how Tameside Councillor’s, Brian Wild who have declared in their lists of interest owning in 8 properties in Dukinfield, Cllr Jackie Lane, who has revealed 2 properties and her husband Cllr Dawson Lane, who has another property in Hyde, feel about this Labour proposal?