General Election. Miliband and Labour. Rent Caps. Immigration. Business. Economy.

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Ed Miliband will bankrupt U.K, bosses had warned:

Captains of industry had already queued up to attack Labour’s economic policy

  • Lastminute.com founder had warned UK would face same problems as France
  • Internet guru had accused Miliband’s party of ‘anti-business populism’
  • Another business leader had said that a Labour government would be a disaster
  • The Daily Bale warns we could be in for a very rough ride if Labour wins Election 

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Ed Miliband: Labour plans to cap rent rises

However, critics claim the plan will reduce the available rental stock.

Private landlords would be banned from above-inflation rent rises over a three-year period if Labour wins power after the general election, Ed Miliband has announced.

Landlords and letting agents would be required to disclose the rent paid by previous tenants, to allow renters to negotiate the best possible deal at the start of a contract.

Mr Miliband said Labour’s plan would help “generation rent” and ensure “a stable, decent, prosperous private rental market where landlords and tenants can succeed together”.

The Conservatives said rent controls “never work” and “destroy” investment in housing.

Mr Miliband’s plans include:

  • Capping rents over three years so they would not increase by more than inflation
  • Stripping landlords of buy-to-let tax relief if properties do not meet standards
  • Banning letting agent fees to tenants, which the party says would save households £625
  • Establish a national register of private landlords to identify rogue landlords

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Ed Miliband would plunge Britain into an economic catastrophe like the one that France faced under Francois Hollande, a former advisor to Gordon Brown had already said some time ago.

Brent Hoberman, the co-founder of Lastminute.com and a member of the last Labour government’s business advisory council, warned that Mr Miliband

“would attempt to repeat the failed socialist experiment that has left the French economy in the doldrums” 

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His comments followed a series of damning interventions from captains of industry who had queued up to attack Labour’s economic policies and warn of the consequences if Mr Miliband enters No 10 in May.

As the party’s damaging row with business had then at that time entered a third day, Mr Miliband came under fire from Digby Jones, trade minister under Gordon Brown.

Lord Jones, the former director general of the CBI, said:

‘We cannot have political leaders who are creating the wrong sort of mood music, that says we do not like business. I don’t want to be France. I don’t want people thinking that they do not want to come here. I want business to want to be here.’

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Business leader Peter Hargreaves, who co-founded the FTSE100 investment giant Hargreaves Lansdown, said –

“a Labour government would be a disaster for the economy and cause entrepreneurs and the wealthy to flee the country”

He added:

‘If the Labour Party got into power they would leave a monstrous deficit and will bankrupt the country.’

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Former Chairman of Pizza Express Luke Johnson said it would be a disaster if Labour –

‘carried out the policies they’re suggesting’.

The former Channel 4 chairman said: ‘Take freezing energy prices – an example of how the Opposition are ignorant of the way markets and capitalism works.’

Mr Hoberman – a government trade ambassador, warned that Labour’s

‘anti-business rhetoric’ was ‘scaring business’. 

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The internet guru and tech entrepreneur said:

‘Should Labour get elected then what we may well find is that it will be similar to what Hollande did in France, in that he sends businesses away and investment out of the country and then he does a U-turn and it’s almost too late.’

He accused Labour of ‘anti-business populism’ and failing to recognise that many firms ‘contribute huge amounts’.

The damaging war of words between Labour and business had began when Boots boss Stefano Pessina warned that a

“Labour government would be a ‘catastrophe”

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LABOUR MPs HAD DEMANDED A LURCH EVEN MORE TO THE LEFT !

Even more extreme Left-wing Labour MPs accused their party of not being radical enough and insisted they would push for ‘real Labour policies’ if Ed Miliband gets into Downing Street in a coalition.

A group led by John McDonnell wanted to meet trade unions, Left-wing academics and campaign groups wanted to decide what their demands would be in negotiations with other parties.

Mr McDonnell said: ‘Many Labour MPs, candidates and activists will want to campaign for a

“more radical agenda of policies than we have seen so far” 

‘Many voters will also want to know that there are people within the Labour party arguing for real Labour policies.’

His comments had sparked a furious response from Labour, whose business spokesman Chuka Umunna questioned Mr Pessina’s tax affairs and Labour MPs said they would not listen to a multi-millionaire who lived in ‘a big mansion’.

Stuart Rose, the former Marks & Spencer boss, accused Mr Miliband of being a ‘1970s throwback’

Lord Rose, a Tory peer, said Labour’s ‘business bashing’ could curb investment and lead to –

‘shuttered shop fronts, empty high streets and lengthening dole queues’.

This sparked an angry response from Shadow Chancellor Ed Balls who accused Lord Rose of ‘playing party politics’ and making the claims ‘because he’s a Tory’.

But the rush of critical opinion from so many business leaders will be harder for Labour to shrug off.

Charlie Mullins, who set up Pimlico Plumbers in 1979, also went on the attack, accusing Mr Miliband of being

‘clueless about business’.

The tycoon said:

‘I’m one business owner who isn’t going to keep quiet about the destructive power of having a business-hating government with Ed Miliband at the helm.’

A report by Deutsche Bank warned that British –

British families will face higher borrowing costs under Labour as interest rates earlier to offset extra government spending.

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