With typical ill grace, Ed Miliband has conceded he will not block the proposed expansion of Heathrow airport.
Asked yesterday whether he was now in favour of building a third runway, he curtly replied: ‘I’m part of a Government that has that position.’
So, to a long list of Mr Miliband’s flaws we can now add: ‘Bad loser.’
Thankfully, the Prime Minister and the Chancellor appear to have made clear to the whole Cabinet – on this issue at least – that economic growth is paramount.
But it remains of immense concern that Mr Miliband is still pursuing other madcap green ideas which are capable of causing immeasurable harm to this country.
He is insisting, for example, that private landlords should pay up to £15,000 to upgrade each of their properties to meet higher ‘energy performance certificate’ requirements by the end of the decade.
It is the prudent investor rather than big business who will really feel the hit from these misconceived suggestions, which amount to yet another ideologically driven attack by Labour upon the aspirational.
Alternatively, the costs could be passed on to millions of renters or trigger a mass sell-off of rental properties.
Ed Miliband is insisting that private landlords should pay up to £15,000 to upgrade each of their properties to meet higher ‘energy performance certificate’ requirements by the end of the decade
With typical ill grace, Mr Miliband has conceded he will not block the proposed expansion of Heathrow airport (pictured)
Does the PM wish to see a housing market downturn and negative equity added to the list of his Government’s economic achievements so far?
Incredibly, Mr Miliband’s new eco burdens are being proposed even though Britain is already suffering an acute housing shortage, with rents spiralling in many towns and cities.
On top of that, latest official projections show just how much worse things are likely to become, as the UK population is set to soar by almost five million to 72.5million by mid-2032.
The Government has not one clue where these extra millions will live, given its sketchy ambition to build merely 1.5million new homes by the end of this parliament.
Labour should be encouraging private investors to help solve this problem, rather than driving them away with costly red tape.
Mr Miliband, the Minister for Make Believe, needs to be told in stark terms that his crippling environmental levies will not put a roof over anyone’s head.
Breaking the bank
Individual Savings Accounts, or Isas, have long been the nation’s favourite way to save.
Chancellor Rachel Reeves is understood to have discussed scaling back tax breaks on cash Isas, most likely by reducing the maximum amount that can be saved each year, in order to encourage investment in stocks and shares instead
Cash Isas, and their direct forerunner Tessas, have been a crucial part of the personal finance landscape since 1991, which is why any attempt to fiddle with them would be so unwelcome.
Chancellor Rachel Reeves is understood to have discussed scaling back tax breaks on cash Isas, most likely by reducing the maximum amount that can be saved each year, in order to encourage investment in stocks and shares instead.
However, the stock market is distrusted by many – particularly pensioners and the elderly – who still prefer the solidity of a cash deposit account.
Now the Building Societies Association has warned Ms Reeves that such a move would cause mortgage rates to rocket and lenders to pull deals.
Any debasement of these much-valued Isa accounts would seem to contradict basic financial advice given to ordinary people – save for a rainy day, and plan for your retirement.
It would be yet another regrettable Labour assault on those who strive for a better future.
