Posted Dec 28, 2015 by Martin Armstrong
Landlords are joining together to challenge the Conservative’s (i.e. Tory’s) tax hike by filing a suit in the high court against their tax increase on “buy-to-let” investment properties. One of the reasons I have stated that Maggie Thatcher herself would have broken away from the Conservatives and started her own third party is demonstrated by this abusive tax on property investment. The Conservatives are acting more like communists in London these days, for this tax plans to prevent landlords by offsetting mortgage interest costs against rental profits before calculating tax. So in other words, they are preventing the leverage in real estate, which means this can only create a one-sided complete collapse.
David Cameron is perhaps the WORST Conservative in British history. He is doing everything possible to remain in the league with Brussels. Cameron’s comment after rigging the Scottish vote to ensure Scotland could not leave the UK was shocking. He said the vote settled the question “for a generation”, revealing his pro-government posture and anti-Democratic undertone. This posture goes all the way to agree with Brussels, and Cameron’s arrogance (see video of his speech) was just stunning. His promise for a referendum to leave the EU was a bullshit ploy; he never expected he would actually stand a chance to win.
Now Cameron is scared to death and has the bankers frightening everyone by saying that Britain would collapse if they tried to leave the EU, which is insane since the bankers themselves will fall if they remain inside the EU with what is on the horizon. Cameron called on the bankers to spread propaganda, claiming that if Scotland left the UK, then the bankers would all move to London. EVERYTHING Maggie Warned about has come true under her own party. Thatcher was always clear that a single currency was all about the federalization of Europe through the back door. Cameron should watch the debate back in 1990 on this issue,
These property tax changes supported by Cameron demonstrate that he is no Conservative. The “buy-to-let” tax on property eliminates interest expenditures in the property business. Unlike all other businesses, this is retroactive and not limited in its application to future sales; instead, is applies to ALL existing investment properties. This demonstrates that Cameron is not qualified to head any economy for he is creating the S&L crisis for Britain. As soon as you create a one-sided market, prices implode. He is creating a situation where there will be NO BID for such properties.
We will see Britain facing a tremendous political upheaval as we approach 2017. We have warned that a year-end closing for the pound below 147 will warn that the currency is preparing to crash. We have additional year-end sell signals at 146.15 and 140.50.
The ONLY POSSIBLE HOPE TO SAVE BRITAIN will be Nigel Farage. Both Labour and Conservatives have simply lost their minds.
Tags: Britain, buy-to-let tax, Conservative Party, David Cameron, EU Crisis, London Real Estate, Maggie Thatcher, Scotland, UK