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|Autumn Statement comment from Benson Hersch, Association of Short Term Lenders|
|Wednesday, 23 November 2016|
Benson Hersch, CEO of the Association of Short Term Lenders (ASTL), says “Once again the government is gambling on growth. It is obvious that they want to stimulate growth and that the measures such as the £23billion investment in innovation and infrastructure through the new National Productivity Investment Fund are aimed to do that, but the levels of debt are scary. With borrowing reaching above 90% of GDP it makes the economic situation of some of the southern European nations look healthy. It also appears that the government is trying to blame bad news on Brexit.
“While there was a modicum of good news where investment in housing was concerned it is disappointing that there was no change to the rather punitive taxation proposal for consumer landlords. The banning of upfront fees by letting agents to tenants is well overdue, I just hope there will be no corresponding hike in fees for landlords as these are already too high and not value for money.”
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