Calling all Tories. Why do you Tory?

[pirate]

Bought my first house under a Tory government. Lost my first house under a labour government. Continual interest rate rises and the removal of MIRAS meant I could no longer afford the mortgage. So when people say Labour are the party of the working people, I say bollocks.
Have never voted for the Tories either but to me they are best of a bad bunch.

The point about interest rate rises isnt true though is it.

unless you bought your house in the late 60's early 70's, in which case I tip my hat to a bloke who is 80 years old on the internet. Also MIRAS wasnt phased out until 2000, so i am surprised you still owed a great deal of money on a house that you bought in the early 70's when the average house price was just over 5K

Bank rate at year end (%)*
1979 Tory	17
1980 Tory	14
1981 Tory	14.375
1982 Tory	10
1983 Tory	9.0625
1984 Tory	9.5
1985 Tory	11.375
1986 Tory	10.875
1987 Tory	8.375
1988 Tory	12.875
1989 Tory	14.875
1990 Tory	13.875
1991 Tory	10.375
1992 Tory	6.875
1993 Tory	5.375
1994 Tory	6.125
1995 Tory	6.375
1996 Tory	5.9375
1997 Labour	7.25
1998 Labour	6.25
1999 Labour	5.5
2000 Labour	6
2001 Labour	4
2002 Labour	4
2003 Labour	3.75
2004 Labour	4.75
2005 Labour	4.5
2006 Labour	5
2007 Labour	5.5
2008 Labour	2
2009 Labour	0.5
2010Labour	0.5

 

[Ban-jani]

Standard ... for Brexiteers and Tories.

All Labour supporters hate Jews and hard work.

If we’re doing lazy inaccurate stereotypes, I’m here all day mate.

 

[west didsblue]

The point about interest rate rises isnt true though is it.

unless you bought your house in the late 60's early 70's, in which case I tip my hat to a bloke who is 80 years old on the internet. Also MIRAS wasnt phased out until 2000, so i am surprised you still owed a great deal of money on a house that you bought in the early 70's when the average house price was just over 5K

Bank rate at year end (%)*
1979 Tory	17
1980 Tory	14
1981 Tory	14.375
1982 Tory	10
1983 Tory	9.0625
1984 Tory	9.5
1985 Tory	11.375
1986 Tory	10.875
1987 Tory	8.375
1988 Tory	12.875
1989 Tory	14.875
1990 Tory	13.875
1991 Tory	10.375
1992 Tory	6.875
1993 Tory	5.375
1994 Tory	6.125
1995 Tory	6.375
1996 Tory	5.9375
1997 Labour	7.25
1998 Labour	6.25
1999 Labour	5.5
2000 Labour	6
2001 Labour	4
2002 Labour	4
2003 Labour	3.75
2004 Labour	4.75
2005 Labour	4.5
2006 Labour	5
2007 Labour	5.5
2008 Labour	2
2009 Labour	0.5
2010Labour	0.5

It's a shame when facts get in the way of a good made up story.

 

[trumpton]

The point about interest rate rises isnt true though is it.

unless you bought your house in the late 60's early 70's, in which case I tip my hat to a bloke who is 80 years old on the internet. Also MIRAS wasnt phased out until 2000, so i am surprised you still owed a great deal of money on a house that you bought in the early 70's when the average house price was just over 5K

Bank rate at year end (%)*
1979 Tory	17
1980 Tory	14
1981 Tory	14.375
1982 Tory	10
1983 Tory	9.0625
1984 Tory	9.5
1985 Tory	11.375
1986 Tory	10.875
1987 Tory	8.375
1988 Tory	12.875
1989 Tory	14.875
1990 Tory	13.875
1991 Tory	10.375
1992 Tory	6.875
1993 Tory	5.375
1994 Tory	6.125
1995 Tory	6.375
1996 Tory	5.9375
1997 Labour	7.25
1998 Labour	6.25
1999 Labour	5.5
2000 Labour	6
2001 Labour	4
2002 Labour	4
2003 Labour	3.75
2004 Labour	4.75
2005 Labour	4.5
2006 Labour	5
2007 Labour	5.5
2008 Labour	2
2009 Labour	0.5
2010Labour	0.5

MIRAS was completely removed by 2000 but it started ending in 99 when it was announced in the budget. I bought the house in 1996, mortgage with a 1% discount for 3 years. Come 1999 I'd gone from paying £302 a month to £420 with the loss of MIRAS, the 1% discount and the increase in interest rate. Basically, I couldn't afford the 40% increase so the house went. Also bear in mind that a lot of mortgages do not track with the BofE base rate, so even when rates go down the lenders don't always pass it on.
Fast forward to modern day, my current lender until recently, removed the 2.5% ceiling between base rate and their lending rate so they can charge what they want. Their current lending rate is about 5%

 

[trumpton]

It's a shame when facts get in the way of a good made up story.

Not going to argue with you pal, but it's facts. Oh yeah, lenders immediately pass on all reductions in base rate don't they!
If I could be arsed I'd dig the old paperwork out of the attic but it's cold up there. Then again, you can tell me the temperature in the loft as you seem so clued up on my circumstances!

 

[west didsblue]

Not going to argue with you pal, but it's facts. Oh yeah, lenders immediately pass on all reductions in base rate don't they!
If I could be arsed I'd dig the old paperwork out of the attic but it's cold up there. Then again, you can tell me the temperature in the loft as you seem so clued up on my circumstances!

I think the point is that other than a couple of blips rates went down under Labour.

 

[pirate]

MIRAS was completely removed by 2000 but it started ending in 99 when it was announced in the budget. I bought the house in 1996, mortgage with a 1% discount for 3 years. Come 1999 I'd gone from paying £302 a month to £420 with the loss of MIRAS, the 1% discount and the increase in interest rate. Basically, I couldn't afford the 40% increase so the house went. Also bear in mind that a lot of mortgages do not track with the BofE base rate, so even when rates go down the lenders don't always pass it on.
Fast forward to modern day, my current lender until recently, removed the 2.5% ceiling between base rate and their lending rate so they can charge what they want. Their current lending rate is about 5%

More than half your 40% increase was coming off discount and nothing to do with the government. I can see your upset about MIRAS but that was only about 10% of your increase

Mortgages not tracking the BofE base rate is again not the governments fault.

and interest rates in 1999 were 5.5% compared to 5.9% in 1996
By 2000 they had risen again to 6.0%

 

[trumpton]

I think the point is that other than a couple of blips rates went down under Labour.

Agreed.

 

[metalblue]

In the past it was probably more a thing as communities, especially amongst some trades were so close knit, then someone crossing a picket line was seen as betrayal of that community.

We don't have them close knit comunities where
most people work at a local place and then live in the same street or location as their fellow worker.


I have been on strikes in my recent times and non union members going into work have been left alone as they go in and tbh no one has questioned whether they actually are non affiliated of in the union anyway.

We even had a manager come out with tea and coffees once who was also a labour councilor, with no one berating them, which wpuldn't have been the case 40 years ago.

Appreciate the reply mate. It makes a lot of sense. So given your experiences do you think the more militant elements of unions are a thing of the past and it’s more moderate? Or union membership is more disparate across multiple unions? Or maybe it more depends on industries?

And do you think the effectiveness of strike action is damaged by a more moderate union? Or is a more balanced dialog approach with company management, especially if the timing on strike action is optimal, just as effective as a scorched earth policy?

 

[metalblue]

Good questions.

I think the whole point of a Union is that if a decision is made democratically to strike, then everyone in that Union should accede to the wishes of the majority and show solidarity with their fellow workers. I don't condone violence towards "scabs" but they do undermine the efforts of the democratic choice.

Why they turn against their fellow workers could be anyone of a million reasons i suppose, from hating the shop steward to shagging the boss.

Yeah that makes sense mate - I guess a lack of strike pay from employers creates that sense of “togetherness”. Obviously the miners strike was quite brutal for the striking miners having to burn furniture and the such to heat the house. I always wondered if union subs provide any type strike pay at all? Or is it just for the reps? Obviously it’s not bottomless but for a short term support mechanism as they won’t qualify for the dole! I don’t suppose Scargill had to burn his shit mind