The Sensitivity of Homeowner Leverage to the Deductibility of Home Mortgage Interest

Mortgage interest tax deductibility is needed to treat debt and equity financing of homes equally. Countries that limit deductibility create a debt tax penalty that presumably leads households to shift from debt toward equity financing. The greater the shift, the less is the tax revenue raised by the limitation and smaller is its negative impact on housing demand. Measuring the financing response to a legislative change is complicated by the fact that lenders restrict mortgage debt to the value of the house (or slightly less) being financed. Taking this restriction into account reduces the estimated financing response by 20 percent (a 32 percent decline in debt vs a 40 percent decline). The estimation is based on 86,000 newly originated UK loans from the late 1990s.

The food bank : a safety-net in place of welfare security in times of austerity and the Covid-19 crisis

The food bank has become a charitable safety-net for those who have been failed by the social security system in times of austerity and during the Covid-19 pandemic. In this article we evidence the rise of food banking in the context of declining social security, examining the decade of austerity in the UK and the Covid-19 period. We also contextualise the process of normalisation of food banks as a new safety-net in a reduced welfare state. We argue that the welfare state has failed to address a fundamental ‘Want’ – namely, food securit

The benefits system in Wales

This evidence supports the call for further devolution of powers in Wales, especially those that increase the ability for Wales to tackle poverty. Doing so, our work here evidence that the 10 years of austerity following the election of the Coalition Government of 2010 opened a chasm for rising socio-inequalities for Wales. This chasm has ensured that low-income people and communities in Wales were hit hard because of Covid-19 and during lockdown.In this evidence we call for further devolution of powers that will enable the Welsh Government to provide equitable financial stability for the people of Wales. Our evidence draws on our own primary research and is supported by a wealth of secondary research from academics, activists and civil society organisations who work on the frontline in supporting those in needs across Wales. This evidence discusses the current levels of poverty inWales and highlights the rising incidence of food bank use as a key identifier. Moreover, the evidence also acknowledges the potential economic impact in Wales as the pandemic dust settles and discusses the attainment (and gaps) of Local Assistance Schemes, furlough, taxation, UC, and the recent £20 uplift. Finally, we end with a significant discussion of evidence surrounding the proposal for a trial of a Universal Basic Income in Wales and discuss the link between this and the Wellbeing of Future Generations in Wales

The Influence of Child Sexual Abuse on the Self from Adult Narrative Perspectives

The impact of child sexual abuse on the adult self is not yet clearly understood. We explored adult perspectives through the use of narrative interviews (N = 30). Three key themes or views of self were identified in all narratives to varying degrees: the worthless self, the self as unknown, and the potential/developing self. Ambivalence and tension were present in all narratives. Individuals were challenged to integrate the sexual abuse experience in a constructive way and develop a more coherent perception of the self. The narrative method highlighted the dynamic nature of peoples� experiences at the same time recognizing that the narratives themselves are in progress. Reactions to disclosure, social support, and interpersonal connections are crucial at every turn

Controlling for transactions bias in regional house price indices

Transactions bias arises when properties that trade are not a random sample of the total housing stock. Price indices are susceptible because they are typically based on transactions data. Existing approaches to this problem rely on Heckman-type correction methods, where a probit regression is used to capture the differences between properties that sell and those that do not sell in a given period. However, this approach can only be applied where there is reliable data on the whole housing stock. In many countries—the UK included—no such data exist and there is little prospect of correcting for transactions bias in any of the regularly updated mainstream house price indices. Thispaper suggests a possible alternative approach, using information at postcode sector level and Fractional Probit Regression to correct for transactions bias in hedonic price indices based on one and a half million house sales from 1996 to 2004, distributed across 1200 postcode sectors in the South East of England

Two-photon Lithography for 3D Magnetic Nanostructure Fabrication

Ferromagnetic materials have been utilised as recording media within data storage devices for many decades. Confinement of the material to a two dimensional plane is a significant bottleneck in achieving ultra-high recording densities and this has led to the proposition of three dimensional (3D) racetrack memories that utilise domain wall propagation along nanowires. However, the fabrication of 3D magnetic nanostructures of complex geometry is highly challenging and not easily achievable with standard lithography techniques. Here, by using a combination of two-photon lithography and electrochemical deposition, we show a new approach to construct 3D magnetic nanostructures of complex geometry. The magnetic properties are found to be intimately related to the 3D geometry of the structure and magnetic imaging experiments provide evidence of domain wall pinning at a 3D nanostructured junction