London house prices on the up after six months of flatlining March 24, 2015 London’s house prices are picking up again after stalling since August, official data showed yesterday. The average home in the capital cost £510,000 in January – up 1.6 per cent from £502,000 in December, and back up towards the £514,000 peak seen in August 2014. Nationally, prices rose £1,000 to an average of £273,000. Over [...]
Why drug-resistant superbugs could wipe 6pc off the world economy by 2050 March 24, 2015 Tackling antibiotic resistance could become one of the biggest struggles of our time, according to new research by the UK All Party Parliamentary Group on Global Tuberculosis (APPG TB). An overuse and misuse of antimicrobials has allowed some of the planet's deadliest diseases to start winning the battle against man-made drugs, and the situation is [...]
Brexit would be “disastrous” for UK, says Standard Life chairman March 24, 2015 The chairman of insurer Standard Life has told the CityWeek conference it would be "disastrous for London and the UK" if Britain were to leave the single market. Sir Gerry Grimstone said: Why on earth would we not want to be part of one of the biggest markets in the world? Our whole energy should [...]
Surprise as UK inflation falls to zero for first time since current records began in 1989 March 24, 2015 Inflation fell to zero in February for the first time since current the current records began in 1989, moving Britain closer to deflation, official statistics showed today. Figures released by the Office for National Statistics showed prices didn't increase at all in February compared with the same time a year ago. The figure came [...]
Mario Draghi defends ECB policy decisions after QE rollout March 23, 2015 European Central Bank (ECB) chief Mario Draghi yesterday hit back at claims that new monetary policy measures would reduce the need for governments to undertake reforms, ultimately harming growth prospects. “Do you really think a high level of interest rates would form an incentive for a government to improve its education system, or judiciary, or [...]
Ukip economic policy: Patrick O’Flynn takes aim at “onesie state” and promises tax cuts March 23, 2015 Ukip's economic spokesman Patrick O'Flynn has unveiled the economic policies the party will carry into the General Election. The headline pledges included upping defence spending by £3bn per year, hitting the Nato target of two per cent of GDP being spent on the military. "It is astonishing to think that UKIP goes into this election [...]
Strong pound subdues manufacturing exports, the CBI says March 23, 2015 The strong sterling and continued uncertainty for the Eurozone are subduing Britain's manufacturing sector. The CBI said that export orders had fallen to their lowest in more than two years. Just 10 per cent of businesses reported total order books that were above normal for this time of the year. while 35 per cent said [...]
Greek crisis: European markets dip ahead of meeting between Alexis Tsipras and Angela Merkel March 23, 2015 Germany's Dax lead European markets down, falling 0.93 per cent as Chancellor Angela Merkel prepared to thrash out a deal with Greek Prime Minister Alexis Tsipras this afternoon. France's Cac 40 fell 0.56 per cent, while the FTSE 100 – which on Friday hit 7,000 points for the first time – fell back 0.27 per [...]
Brexit could cost UK 2.2 per cent of GDP without radical free market reform and liberal immigration policy March 23, 2015 Britain's economy could take a hit of up to 2.2 per cent of GDP – or £56bn – by 2030 if it leaves the EU, according to a new report from think tank Open Europe. The report argues that in the worst case scenario, the negative effects of Brexit would not wholly be offset by [...]
Confederation of British Industry warns politicians: Don’t let election halt UK growth March 23, 2015 Britain’s biggest business group will this morning warn politicians against allowing post-election uncertainty to derail the country’s impressive economic growth. The UK is facing the tightest General Election in decades on 7 May, with many polls showing no party in line for a clear majority. And even if a coalition needs to be formed, the [...]