In the news today…
- Property is proving interesting today, with Business leaders urging government to tackle UK housing crisis. The CBI has set out 10 recommendations to get more people into suitable housing ahead of the publication of a white paper where Javid warns homebuilders to speed up – or face Government intervention. In the meantime UK Supreme Court will be hearing refurbished property rates case which developers say an adverse ruling would jeopardise some London regeneration schemes.
- No matter old or new property, there are money issues; the Church of England seeks salvation for its crumbling inheritance and the London Garden Bridge seems to be shakier than ever. But given the right properties, investment is available – Chinese buyers increase focus on London property
- Whilst May is in India seeking strengthening UK ties, she defended the press attacks on High Court judges. A report saying the British press has increased its coverage of immigration issues by a third over the past decade, and it’s clearly not going to decrease; India has urged Theresa May to open UK doors to university students and she has said UK will not raise visa quota for Indian nationals.
- In the wake of the Article 50 ruling ‘makes life more uncertain’ for business and UK manufacturers are putting off investment plans, poll shows. This is been backed up by earnings being dominated by the early impact of the UK’s vote for Brexit on companies around the world. The EU is reconsidering financial market access rules and it seems strengthening ‘equivalence’ regime would be blow to post-Brexit City and US firms.
- UAE faces tax haven blacklist threat from G20: Gulf state yet to sign treaty on exchanging information amid fears over illicit flows
- In tech news, Britain’s cybersecurity policy needs common sense, not just cash. Crimes following Tinder and Grindr hook-ups rocket in last four years. Still it is depressingly reported that UK female tech workers are earning 9% less than men. And potential good news – Virgin will test net neutrality rules with free WhatsApp access.
Government Consultations and Announcements
- FCA acts to improve competition in the current account market
- Press release: CMA secures better cloud storage deals
- News story: Connected Cities Mission: entrepreneurs join delegation to India
- Consultation outcome: 30-hour free childcare entitlement
- Open consultation: Basement developments and the planning system
- Consultation outcome: Consultation on the implementation of the Bank Recovery and Resolution Directive (BRRD)
- Open consultation: Implementing the Fourth Money Laundering Directive: beneficial ownership register