'It's time for the NatWest chairman to learn some home truths'

05 January 2024 , 22:59

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'It's time for the NatWest chairman to learn some home truths'

Looking down from his ivory tower it is clear banker Sir Howard Davies has no clue what life is like for his customers.

The NatWest chairman claimed it is not that difficult to get on the housing ladder – and all would-be buyers need to do is save more. You might have thought he would have a better understanding of the housing market. In the past two decades prices have risen at more than double the rate of earnings. Over the same period rents have increased by 38%, making it harder to save for a deposit.

It should surprise no one – except perhaps Sir Howard – that the average age of a first-time buyers has gone from 28 in 2007 to 34. The problem is not, as he suggests, that people are not willing to save, but rather this Government’s abysmal failure to build enough homes available at an affordable price. The shortage of housing has driven up prices and rents, denying a whole generation the chance of owning their own home.

Reeves is right

Voters understand if we want to fund the NHS, education, defence and police the money has to be raised through taxes. But they also want a tax system that is fair and rewards hard work.

So it is heartening to hear Shadow Chancellor Rachel Reeves promise Labour would not raise income tax or national insurance. The party understands working people on low and middle incomes should be front of the queue when it comes to easing the burden.

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By contrast the Conservatives are looking to cut inheritance tax, which will only benefit around 50,000 people who are already well-off. The choice at the general election is clear. It is between a party that wants to help the many and a party that cares for the privileged few.

A life well loved

Derek Draper lived life to the full, which is why Kate Garraway loved him so much. After Derek became critically ill from Covid, his passion and ebullience was surpassed only by his wife’s compassion and devotion.

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