UK house price growth eased off in October November 7, 2016 Much has been said about whether the Brexit vote hit demand for homes in the UK. Figures published today suggest that may be the case: prices grew 5.2 per cent in October, down from 5.8 per cent in September. The average house price hit £217,411 in October, according to the Halifax house price index – that's [...]
Donald Trump has come at just the right time for Theresa May January 26, 2017 Tomorrow, Theresa May will become the first world leader to meet President Donald Trump. It is unlikely to be a meeting of minds, but it will certainly be a meeting of huge significance. Both the President and the PM have spoken in recent weeks about the importance of the special relationship and of their desire [...]
Liberty House founder Sanjeev Gupta: How to be a 21st century industrialist December 12, 2016 Behind Sanjeev Gupta’s desk, a framed copy of Margaret Thatcher’s 1980 Conservative Party Conference “The lady’s not for turning” speech hangs on the wall. The speech was a key moment of her tenure, in which Thatcher laid out a refusal to u-turn on liberalising the economy. It is also an interesting choice of picture for [...]
Thousands of £250,000 starter homes are about to be built (outside London) January 3, 2017 Housing minister Gavin Barwell has given the green light for the construction of thousands of new starter homes outside of the capital. Built on brownfield sites, the new homes are designed for first-time buyers between 23 and 40 years old, and will be sold at a discount of 20 per cent below market value, with [...]
Sterling falls against the dollar ahead of Trump’s May day January 27, 2017 Negotiations between Theresa May and Donald Trump will remain under wraps until this evening – but the UK is already losing out to the US in the currency stakes, with the pound falling in late morning trading. Having edged briefly above $1.26 earlier this morning, sterling fell as low as $1.2524 in late morning trading, [...]
The EU mustn’t shoot itself in the foot – euro clearing thrives in London February 21, 2017 Brexit has presented EU leaders with something of a quandary: should they punish the UK in a bid to preserve their political union, or, in doing so, do they risk shooting themselves in the foot? To put it another way – will they allow politics to trump economics? In the immediate aftermath of last June’s EU [...]
UK construction output fell in October, failing to build on September growth December 9, 2016 Construction output suffered a surprise slowdown in October, new figures out today show. The sector shrank by 0.6 per cent between September and October, falling below analyst expectations. The Office for National Statistics (ONS) reported that the biggest downward contribution came from infrastructure, while repair and maintenance showed no growth. Read more: It's not all [...]
After meeting leading bankers in Davos, will Theresa May be able to limit job moves out of the City? January 20, 2017 Jonathan Portes, professor of economics and public policy at King’s College London, says Yes. Theresa May’s Brexit speech has been well received politically – but the implications for the UK’s financial sector are becoming apparent: banks are announcing the transfer of jobs out of London, the inevitable consequence of the government’s decision to leave the [...]
Liberty House founder Sanjeev Gupta completes purchase of Tungsten Bank to create new “industry friendly” Wyelands Bank November 16, 2016 The British industrialist at the helm of commodities group Liberty House has bought Tungsten's banking arm to create an "industry friendly" bank for smaller UK engineering and manufacturing companies. Sanjeev Gupta, who founded the metals company when he was a student at Cambridge, has bought Tungsten Bank through his private estate Wyelands Holdings. The deposit-taking [...]
New £2.3bn housing infrastructure fund announced in Autumn Statement November 23, 2016 A new £2.3bn housing infrastructure fund has been announced in the Autumn Statement to unlock new land for house building in high demand areas. The chancellor Philip Hammond also said there would be a £1.4bn fund to be spent on building 40,000 new homes. He announced a £3bn homebuilders' fund for 200,000 new homes and £2bn to build [...]