CSR 21.10.10

Ymateb i gais am ddyfyniad ynghylch arolwg gan Zoopla yn ymwneud a gwerth tai yn sgil adolygiad gwarinat y Llywodraeth /
Request for quote in response to aZoopla review about house prices as a consequence of the Government’s spending review:
I’m afraid that the Spending Revue announced by a multi-millionare Tory in London could be hugely damaging to rural Wales, especially areas like Denbighshire which is so dependant on public sector employment.
Consequtive Governments have decimated the traditional industries of these areas, centralising wealth creation in London and the surrounding area. Under Labour our skilled work force sourced employment in what was a growing public sector. This was always going to be unsustainable. The problem with the Tories spending review, much like Thatcher with the Miners in the 80s, is that they haven’t offered an alternative, just a glib statement that the private sector will take up the slack. This won’t happen here unless they provide the necessary investment into developing local homegrown businesses based on our skills and natural wealth. Water for example is a resource that we have in abundance and could be a major source of employment in energy production, but we have no control over our own water resources.
The upshot is that property value will fall and some will find themselves in negative equity, failing to pay their mortgages and rent. The Government haven’t provided any safety net for these people, and have instead cut back darmatically on Welfare – a double whammy for those that find themselves hit hardest by the Tories falling axe.

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