HIP extension

HIPs are to be extended to 3 bedroom or larger propoerties from 10 September 2007 according to the BBC and we know how reliable their news presentation is. "Shadow housing minister Grant Shapps called the plan "pointless red tape", adding that it would lead to extra costs and bureaucracy. "Pushing ahead with Hips will just make life harder and more expensive for people buying and selling property," he said. " Mmm just what the country needs as we head towards a massive recession, heck let's call it what it is - a depression, an extra tax on labour mobility as house prices crash around us. I don't think the income to the Treausury from HIPs will make up for the loss in income from stamp duty as house prices fall.

By the way, has anyone seen Gordon Brown since the financial markets started to fall? Surely he has some comforting words about how he has ended boom and bust for ever...