Lack of bids keeps 17,000 homes stuck in development purgatory December 17, 2024 Around 17,000 affordable homes are stuck in development purgatory due to a lack of demand from housing providers, according to new research. Under the English planning system, housing developments must set aside a proportion of the site for affordable housing via a Section 106 deal. These Section 106 houses have become an increasingly important mechanism [...]
FCA sets out plans for new Pisces private stock market December 17, 2024 The Financial Conduct Authority (FCA) has set out its plans for a new private stock market system today as it looks to revive London’s flagging IPO pipeline and allow investors to more easily tap into unlisted companies. In a consultation document, the City watchdog said the new stock market system, PISCES, first tabled by the [...]
Strong wage growth kills hopes of interest rate cut December 17, 2024 Analysts have warned that strong wage growth data reported this morning has killed any chance that the Bank of England will cut interest rates later this week. While the central bank had been widely expected to hold interest rates at its Monetary Policy Committee meeting on Thursday, the decision has been cemented by wages rising [...]
Rolls-Royce chair and Octopus founder named among industrial strategy panel December 17, 2024 Octopus founder Greg Jackson, Rolls-Royce chair Dame Anita Frew and former Tory business secretary Greg Clark are among the heavyweight names appointed to a new Industrial Strategy Advisory Council, launched by the government on Tuesday to help stimulate growth. The panel, which also includes private sector top dogs like Prudential chair Baroness Shriti Vadera and [...]
Growth is easier to destroy than to build December 16, 2024 Missions, milestones, foundations and pledges; Keir Starmer has unveiled them all since winning the election in July, but no amount of visionary rhetoric can compel an economy to grow. Since Labour’s election victory the British economy has whimpered to a halt. GDP flatlined in July and achieved a barely perceptible nudge up in August before contracting [...]
Metro mayors to control railways and housing in ‘landmark’ devolution plans December 16, 2024 Mayors of large cities and regions across England will soon be able to take control of local infrastructure and skills projects under a new devolution bill, which was introduced in Parliament today. The English Devolution White Paper will give metro mayors – directly elected regional leaders who chair combined authorities – significant new powers in [...]
Currys reports £32m Budget tax hit December 12, 2024 Consumer electronics retailer Currys has become the latest company to warn about the impact of Labour’s tax raid on its bottom line. In its half-year results for the six months to 26 October 2024, published this morning, management said the estimated cost of recent tax policy changes could amount to as much as £32m. The [...]
Labour now has the same talking points as the Tories, but fewer ideas December 12, 2024 Labour came into office mocking Tory complains about the civil service, but are now coming up against the reality of an unwieldy bureaucracy unresponsive to their demands, says Matthew Lesh “Dominic Cummings was right“ is not a phrase you would expect to hear from a senior Labour official. But, in less than a few hundred days, [...]
HS2: Rail minister reveals new plans for Euston terminus December 11, 2024 Lord Peter Hendy, the rail minister, appeared in front of the Commons' transport committee on Wednesday alongside senior officials from the DfT.
It may already be too late for Labour December 11, 2024 The popularity of the Labour party has plunged since the election, and history tells that once a certain narrative has taken hold, it’s very difficult to turn it around, says Paul Ormerod Since the general election in July, the popularity of both the Prime Minister and the Labour Party has fallen sharply. Labour’s share of [...]