Unimportant macroeconomic numbers

Rocketing fire safety costs are forcing leaseholders to accept up to £200,000 price discounts from cash buyers as the cladding scandal threatens the wider housing market.

House prices have so far been largely insulated from the fire safety crisis that has trapped hundreds of thousands of flat owners because they are unable to sell on the open market. But as ballooning insurance premiums and waking watches escalate even before remediation works begin, leaseholders are being pushed to breaking point.

Stephen McPartland, the Conservative MP for Stevenage who has pressed the Government to free leaseholders from remediation costs, said: “This is a £20bn issue, and that is going to play through the system somewhere – that £20bn could come off house prices.”

£20 billion is real money and £200k is an issue for most households. A crippling one for many. But as a macroeconomic number?

UK property is worth some £6 trillion (number from memory but that’s of the right order). We’re talking of 0.3% o0ff the top of property values.

Sure, it’s a problem in detail but it’s not a macroeconomic problem.

15 thoughts on “Unimportant macroeconomic numbers”

  1. An extra one-off £480 on my tax bill?

    We know one-offs don’t happen.

    And anyway, why the fuck should we have to pay every time a politician fucks something up? Why can’t we just surcharge the cunts responsible for insisting on cladding blocks of flats with firelighters so they can genuflect at the altar of Gaia?

  2. Just charge the bill to Lord Deben. That tougher has fucked up and is continuing to fuck up so much stuff for his personal gain

  3. On the subject of Deben I have lifted this from today’s Samizdata comments section. No idea how likely it is but interesting reading:-

    Mad cow disease … My theory about it relies on an out of field training in chemical warfare and reading about it in three books (A Higher Form of Killing by Robert Harris and Jeremy Paxman – yes, that paxo – Yellow rain by Sterling Seagrave and a SIPRI book on Chemical warfare).I was trained in NBC (nuclear, biological and chemical warfare countermeasures by the British army) and read up about chemical warfare because I did not fully trust the information given by the instructors (namely that you would fully recover from nerve agent poisoning).

    Nerve gas is an organo phosphate and was invented in Germany between the wars as an insecticide to control insect pests in the market green houses that were used to produce crops such as tomatoes etc. The first two were Sarin and Tabun (called G Agents for German). They did a number on the insects and killed a few of the market gardeners too.

    Now, the British Government decided that it would eliminate warble fly which is a major pest of cattle and a notifiable disease. They ordered that cattle be dipped in insecticide which is/was an organo phosphate. In other words, stuff akin to diluted nerve gas.

    If you ask the Russians nicely for their records of nerve agent poisonings and fatalities or examine the long term effects of the Tokyo underground nerve agent attack on the victims, it may surprise you to find out that the effects and symptoms of mad cow disease are identical (poor coordination, trembling, mental confusion etc.).

    The vast majority of people suffering from mad cow disease (and there are very few of them) were farmers, people who worked in abattoirs handling the hides and animals and others who were on or near farms.In other words, people exposed forrelatively prolonged periods to the organo phosphate insecticide.

    In short, it was a relatively predictable man made disaster and thousands of cattle were destroyed for no particularly good reason and even today, beef cattle over 3 years old cannot be used for food of any kind.

    So, what do you think of that theory? Plausible?

    But if you expect any critical and sensible discussion of this possible cause among Government officials, then I have a bridge in Brooklyn for sale …

  4. BiW wins the thread.

    John Lewis–maybe so but how could it be proven esp with the states army of liars/mugs lined up against you.

  5. “Why can’t we just surcharge the cunts responsible?”

    Because they can’t afford it. Can’t get blood from a stone.

    Perhaps someone clever can find a way to align politicians’ interests with ours, in the same way that executive bonuses are paid in deferred stock rather than cash. Force them to send their kids to state schools? To rely purely on the NHS for healthcare? To retire on the state pension?

  6. “poor coordination, trembling, mental confusion etc.”

    Well, I’ve got all of those. Wasn’t there a guy pushing the OP theory at the time, Robin Page (?).

    I do remember NBC training and their “take the atropine straight away and you will be OK, but make sure you’ve had a dose of nerve agent first or the atropine will poison you”. I had my doubts too.

  7. @ John Lewis ….Nope… The whole prion thing.. which, you know, we can test for. And came as a nasty surprise as-is.

    That bit of drivel confuses general symptoms with actual proven cause. Especially when the symptoms themselves are so general they may as well describe the effect of the Proud British Tradition of overconsumption of alcohol.

    Thus are conspiracy theories built…

  8. @Rhoda Much more fun nowadays, as there are also nerve agents that require adrenaline to counteract..

    So… 3 doors. One of which may not kill you…. 😉

  9. Andrew M–Also make the bastards live amongst us. An MPs house for each Seat like a Vicarage with a Church. That is where they live in the Borough while they are MP.

    Maybe the bastards could be forced to work from home also. The present arrangements are deceitful LD shite. But a proper 3d VR representation should be doable so they can all assemble in the chamber “together” in VR/TV.

    Initially expensive but it stops shitloads of other expense. No more London homes/flats, far less travel and expenses. And the knowledge that the people whom their laws piss on daily are only just outside their windowpanes. And could crash through at any time.

  10. Christopher Booker (pbuh) and Old Muckspreader in Private Eye were very vocal on the dangers of OPs to the farming community. They were less likely to infect/poison the population at large, I seem to recall.

    From looking at the subject at the time, the prion/protein diagnosis was the most convincing. It was caused by an attempt to save energy by the processing companies. Instead of cooking their animal products that were to be turned into fodder at 90 or 100degC, they were being cooked at 60-70deg. Thus they were killing off bacteria and germs but not destroying the protein that caused Mad Cow Disease.

    If anything it is another unintended result of Gaia worship.

  11. “a way to align politicians’ interests with ours”

    How about something like: any organisation employing a politician (or ex-civil-servant) is disqualified from being awarded any government contract.

  12. John Lewis

    That three year limit no longer applies. For most farmers there is a negative value to keeping and feeding a beast that has already maxed out in size at c.18 months.

    There is, however, a burgeoning market in retired dairy cow beef, which is , typically, 8-10 years old. Jolly tasty it is too

  13. Sort of related to John Lewis’s point. I Have heard that in both UK and France, Parkinsons occurs in Farmworkers and wives at around twice the national average rate.
    Agricultural sprays??

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