I am sick of buying other peoples’ houses for them. For years I have been earning 0.05 interest on my savings so that the banks can then lend it to house buyers for 1.5%. Buyers is too kind a word. Thieves perhaps? So talk of base rates reaching 6% is music to my ears.
The consequent 10% mortgage rate will plunge the property market into recession, the government could then buy back hundreds of thousands of empty properties to rent out in the public sector while real savers, not the borrowing spivs who presently inhabit the “Borrow to Let” market, would have a chance of buying a couple of empty properties left over and live off the rent. Council houses could be let at commercial rents with the money going to the Treasury. Reduce the taxes on bankers? I would reduce them to living in shop doorways. There are plenty of highly competent honourable people would run our banks for a £1 a year as a public duty.
A 15% inflation rate would stop people buying expensive junk food: Reduced to real poverty (not Labour Party defined poverty of a 65 inch TV set, a car in the garage and three overseas holidays a year with nobody in the house going to work, they would be forced to eat potatoes plus free dandelions picked in the local park, with maybe rice as treat on Thursdays. Booze would be out of reach of all but those wise grasshoppers who saved during the post Thatcher summers as the Conservatives, in a bidding war with Labour, stole the nation’s wealth. The incidence of diabetes would plunge. Obesity would vanish, a brisk market for taking in skirt and trouser waists would develop.
Those who then begin to cry for government handouts should be reminded that we live in a time of labour shortages not seen since the Black Death. If you have never really done any work in your life and lived on Conservative bribes for your vote, if you want to buy that extra packet of crisps or a pint of beer once a week; hire yourself out for 50p an hour. Hurry ! In a recession vacancies will be few.
A 10% bank rate would see the noise and pollution from Heathrow cut by over 50%. How’s that for a green target?
Immigration would cease. The authorities should keep all those dinghies ready at Dover. £200 for a wet rubber seat on a returning inflatable to Calais ?