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Saturday, 27 September 2014


Watching Ed Balls, a one time FT Economics editor, facing off against George Osborne is always deeply embarrassing. 
He just seems so short on facts and blusters his way through

Apart from a brief spell on the FT, his property portfolio was built up through various taxpayer funded jobs.
Balls has never created wealth or jobs but has always leeched off the State. 
Odd, too,  for a socialist to have been so friendly with the crook, Conrad Black, that he would cadge lifts on his Gulfstream!
For all these reasons he would find it difficult to empathise with those who have struggled to buy their homes.


There is something of the schoolyard bully about the man.....vividly shown during a friendly charity match when he viciously elbowed a journalist.

So no surprise his bullying property tax proposal is lazily constructed and clearly designed 'on the hoof'.

He says the proceeds of his tax will go towards funding the NHS. 
Does he not understand the root problems of the NHS are of too much third rate management and squandered money?

A prime example being the case of Joan Hanham of this parish reported HERE

Anyway, back to his property tax.....

K&C, over the last couple of decades has become a haven for 'dark & dirty money' from third world countries: countries you wouldn't want your gap year daughter sending postcards from.
Neither Labour or Conservative governments have tried to vet or stem these inflows of stolen money so the net effect has been to distort the values of quite ordinary two bedroom flats in our Borough.
Those likely to be hit badly by this tax are the eighty five year old age group who RBKC predict will grow from 2,800 to 4,100 over the next 20 years. 
Similarly, the sixty five to eighty four year old group who will grow from 16,000 to 19,000. All are mainly retired on fixed incomes.
They won't wish to rollup the tax and will be forced to sell their only asset and move from a place they love.
And who will benefit from this fire sale of homes by the income poor?
None other than more crooked off shore investors. 
They must be rubbing their hands with glee at the prospect of this windfall.

What a balls up.


  1. These socialist bastards, who are well off in their own right, are using this to gain votes so they gain power and non exec directorships. They will never need to worry about this tax...only people like me on a pension and fixed income

  2. It is a great pity that people of intelligence like Balls find it necessary to operate with the politics of envy. The Mansion Tax proposal to raise £1.2 billion to help the NHS sounds allot but it is pissing in the wind. We currently spend £110 billion every year on the NHS so the Mansion Tax will yield less than 1% of the current spend for a service that is delivering terrible quality in terms of clinical outcomes, waiting times, and medical scandal after medical scandal. Staff are hugely demotivated and demoralised, patients routinely go into shock when they have the NHS experience and demand for healthcare is sky rocketing because of the aging population and the availability of ever more expensive treatments.

    £1.2 billion has nothing to do with any of this.

    1. Well said Scribe. Politicians are raking the barrel and playing on emotions of envy and ignorance to frighten people and exploit envy. Not a pretty sight. The Labour Conference last weak was a disgrace. And wait for the Conservatives next week - it will be another disgrace.

      One Leader FORGETS to mention the economy and immigration. FORGETS!! And the other one goes about whispering to foreigners about his private conversations with the Queen. Time for a clear out.

      The Liberals are of course irrelevant

    2. Scribe is no good at math. £1.2 billion is more than 1% of £110 billion

  3. Elderly widows in £3m Kensington flats living on small fixed incomes will die of fright. And chip on the shoulder Socialists will feel great.

    1. Kensington Resident27 September 2014 at 21:07

      Not all Socialists...... Cllr Dent Coade of Kensington has spoken out against the Mansion Tax in clear and strident tones. Cllr Paget-Brown has followed her lead but needs to be a little more forthright. Kensington and Chelsea residents will be the most affected. The Leader of the Council needs to make a huge noise in the National Press about Mansion Tax and hone his arguments. This is a challenge for Hornton Street PR. Are they up to it? They certainly cost enough and do very little of interest or value.

    2. A national PR programme is beyond the ability of Fitzherbert, the PR honcho in Hornton Street

  4. The Dame is becoming rather tired it seems. Her facts leave much to be desired. She fails to mention that Ed Balls is one of God's People. Gordon Brown recruited him from Goldman Sachs and Balls left with a £10m bonus payment and share options. This is the basis of his little talked about but large property portfolio in London. Rented out of course. And his Mansion Tax will be tax deductible - something that asset rich and cash poor pensioners in K&C will not be able to avail themselves of. The poor dears could sell up and move to cheaper housing - but is it right to force this on 80 year ods widows who have lived in their properties for 30 years?

    Will Cllr Paget-Brown please wake up and start defending his vulnerable residents?

  5. I think the Dame is correct in her facts.
    You might be thinking of Gavin Davies(now Lord) who made a fortune at GS and went to work for that economic genius who sold off all our gold for peanuts, Gordon Brown!

    1. Dame Friend is right and Anonymous is wrong. Ed Balls is not one of God's people

  6. Quietly and with no support from a cowed press Farage is building a head of steam which will terrify both Labour and Conservatives. There will be more defections. As for the Lib Dems....they are rightly f****d.
    Cameron just be able to get a majority if he can get the DUP and PUP and UKIP to work with him on a Confidence and Supply basis.

  7. This is a Labour blog always praising Blakeman and Dent Coade who stood up against their overloards against mansion tax.


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