Whatever one thinks of the other HB proposals the CAP MUST STAY!
It’s clear that it is basically a London problem. It crystallises the dilemma and challenge London faces – and the dysfunctional relationship it has with the rest of the Country.
Middle class lefties and rich landlords are squealing because they know full well that London rents and house prices are unsustainably high.
How are there so many properties with rentals of 1k a week? You’d need an income of at least 50k to meet such a cost. Are there really THAT MANY people there with that sort of money. If so it means that London has raced ahead of the rest of the country in its prestige and wealth – hoovering up talent and is now a truly International city. Thus, it now has a fundamentally stark choice:
Either meet the difference between the price of ordinary rentals that are paid for from an agreed sum to the cap via taxation and tap the super-rich within its boundaries OR share that political, cultural and economic wealth with the rest of us. One thing’s for sure – the rest of the country doesn’t want to pay.
The Coalition Government have already started with their emphasis on science, Green jobs in the NE and the HB Cap. If there’s any justice this will just be the start to try to transfer wealth from London to elsewhere.
For too long London has stalled the advancement of other regions due to the very system that Ed Miliband is complaining about. Now it’s time for the `lumbering giants` elsewhere to take advantage of a Government with a more localist agenda – a long-term vision that instead of forcing them to go cap in hand to the paymasters they can grow their own private sectors to support themselves. The regions need companies not just to have subsidiary offices in their cities – but to be HEADQUARTERED there too.
No wonder Boris is squealing.