Summary
Passing the taxbuck
OUR children and grandchildren will be saddled with massive tax burdens over the next 30 years, thanks to the Government's love of private finance initiative (PFI) schemes for hospitals and schools. It's hire purchase under another name, cunningly hidden in the accounts.See the full content of this document
Extract
Letters
Now the banks and building societies appear to be jumping on the bandwagon by offering interest-only mortgages which can be passed on to our children.
If the mortgagee survives to 85 and the interest on a Pounds 115,000 mortgage has amounted to Pounds 390,000 over 25 years (Mail), how will the typical repayment of around Pounds 646 a month be paid by this pensioner?These schemes are yet another example of the 'live now and let someone else pay later' syndrome.I wonder if the benefits system will be expected to finance these mortgages from public funds....See the full content of this document
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