The UK economic growth surge exposes the real evidence on bank lending October 23, 2013 WHEN Charlie Bean, deputy governor at the Bank of England, gave his speech this week on the UK’s economic outlook, he admitted that the Old Lady was surprised with what was happening. The Bank’s analysis showed that the “recent run of UK data has been unusually strong relative to market expectations”. There are “at last [...]
Lenders fear bubble if UK does not get more houses October 8, 2013 MORTGAGE lenders yesterday warned house building levels are still dangerously low, as the government’s new Help to Buy scheme launched with the backing of five banks, including HSBC. The scheme gives a government guarantee to buyers with a small deposit saved up, making banks more willing to lend and increasing the range of mortgages on [...]
Why discretionary government action can often lead to contradictory policies October 7, 2013 WITH breakfast news littered each morning with groups demanding funds or interventions from politicians, it’s hard not to conclude that appetite for all-acting government is returning – perhaps explaining Ed Miliband’s recent radicalism. But using discretionary government actions to try to solve every negative outcome or demand creates problems, not least in that it leads [...]
Row escalates as Help to Buy policy launched October 7, 2013 CRITICS of the government’s Help to Buy policy rounded on the scheme yesterday, accusing it of risking another property bubble. Speaking to the BBC Sunday Politics, Jonathan Portes, head of the National Institute of Economic and Social Research, said: “The main impact of this scheme will be to push up house prices. Who loses? People [...]
Cameron must now translate his vision into concrete action October 2, 2013 THERE is, of course, a place for soundbites. David Cameron’s speech yesterday had those in spades; some were even pretty good. The Prime Minister spoke up for the profit motive, for enterprise, hard work, improved standards in education and called for a land of opportunity. He defended business from the vicious attacks of Ed Miliband, [...]
Cameron needs growth gazelles to bring life to his land of opportunity October 2, 2013 IN HIS speech to the Conservative Party conference yesterday, David Cameron told the audience that the government’s great project was to make Britain a land of opportunity. He argued that Conservatives should see their mission as building a Britain where humble dreams like owning your own home or starting your own business are within the [...]
Cameron puts European rights law on notice September 29, 2013 DAVID Cameron yesterday indicated that he is ready to pledge to abolish the Human Rights Act in the Conservatives’ manifesto for the 2015 general election. The Prime Minister said he would do “whatever that takes” to ensure Britain can deport foreign criminals that the government believes pose a threat to national security, including replacing the [...]
Help to Buy isn’t the answer to the Conservative predicament September 29, 2013 WITH just 20 months to go before the general election, the Tories need to get their skates on. While many London-centric, private sector employed middle class professionals see Ed Miliband as an unelectable joke, the rest of the country disagrees. YouGov puts Labour 11 points ahead, suggesting a 100 seat majority for Miliband’s party, partly [...]
Borrowers set for small cut in interest rates September 29, 2013 MORTGAGE borrowers who use the government’s new guarantee scheme could see interest rates fall by up to one percentage point, City A.M. understands. Banks lending under the scheme will have to pay the government a fee for each mortgage given out, a cost that will be passed on to borrowers. But the fee will only [...]
What the other papers say this morning – 26 September 2013 September 25, 2013 FINANCIAL TIMES Nokia asked Elop to give back €18m Nokia’s chairman asked Stephen Elop, the Finnish group’s former chief executive, if he would forgo part or all of his €18.8m pay-off several days ago as the furore over it grew. People close to Nokia said that as pressure mounted over the weekend from Finnish politicians, [...]