Growth stalls as parties speed to the finish line April 28, 2015 New preliminary figures released yesterday showed that growth in the UK economy slowed in the first three months of this year. The slowdown could dent the re-election prospects of the Conservatives and Liberal Democrats, yet economists and business groups played down the significance of the data. The Office for National Statistics (ONS) reported that GDP [...]
London business bosses come out against mansion tax policy April 28, 2015 Over half of London business leaders are opposed to a so-called mansion tax, according to a new survey. ComRes conducted a poll of more than 500 London business leaders for the London Chambers of Commerce and Industry (LCCI). It found that 52 per cent of them are against an additional tax on properties valued [...]
Mortgage approvals just jumped to a six-month high in March April 28, 2015 Mortgage approvals hit a six-month high in March, but they're still about 14 per cent lower than a year ago, according to data released by the British Bankers' Association (BBA) today. Mortgage approvals for house purchase rose to 38,751 in March, up from 37,453 in February and the largest amount since September last year. "The [...]
UK economic growth slows to 0.3 per cent in the first quarter of 2015 April 28, 2015 The last piece of key economic data spun out ahead of the General Election on May 7 has shown the economy slowed by more than expected in the first quarter. The Office for National Statistics said today the economy grew by 0.3 per cent in the first three months of this year, which was below [...]
Workers over the age of 50 are disproportionately likely to feel their career has stalled April 28, 2015 Workers over the age of 50 are disproportionately likely to feel their career has stalled, according to new research. In fact, just 12 per cent feel their career is progressing, compared with a third of those under 50. The study, by Axa PPP Healthcare, suggested that a third of those over 50 felt they didn't [...]
Yanis Varoufakis out, Euclid Tsakalotos in: Markets cheer Greek shake-up as maverick’s influence wanes April 27, 2015 Investors lifted markets across Europe yesterday as the Greek government decided to bulk up its bailout negotiation team and lessen the influence of maverick finance minister Yanis Varoufakis. The government will create a new political team headed by Oxford-educated alternate foreign minister Euclid Tsakalotos. Manchester University professor George Chouliarakis will also take a more central [...]
David Cameron says Libor scandal bank fines will help fund £200m apprenticeship plan for the unemployed April 27, 2015 David Cameron is to announce today a £200m fund aimed at creating 50,000 new apprenticeships for young unemployed people. Money from Libor fines is being used to create the three year fund, which is part of the Conservatives’ plan to abolish long-term youth unemployment, a spokesperson said. “It all comes back to our values: being [...]
Taylor Wimpey, Barratt Developments and Persimmon share prices dip as fears about Labour rent control plans take hold April 27, 2015 Housing experts warned that Labour plans to bring in rent controls could lead to investors pulling out of the rental market. The Association of Rental Letting Agents (ARLA) said yesterday that three-quarters of its members feared the plans would “see landlords exit the market and reduce supply”. Such fears led to an immediate [...]
Home building unlikely to reach pre-recession levels this year April 27, 2015 The prospects for UK house building are grim, according to a survey of homebuilders published yesterday by estate agents Knight Frank. Only nine per cent of home builders said it was possible to build more than 200,000 residential units a year. The maximum number that could be built was around 180,000 or less, according to [...]
London house prices: West End buyers shrug off stamp duty rise and mansion tax threat as sales rise April 27, 2015 The West End residential market saw no let up in activity over the first quarter of the year, figures show, despite changes to stamp duty and the threat of Labour’s proposed mansion tax. Property advisory firm CBRE said sales transactions jumped by 33 per cent on last year as it agreed sales on £54.7m worth [...]