Mervyn King, governor of the Bank of England (BoE), said yesterday that the credit crunch had entered a ‘new and difficult phase’. He has indicated that action to buy or swap the mortgage-backed securities which have caused the credit squeeze may be needed, along with a reduction in interestRead More →

The Environment Agency says flood defences, waste tips and sewerage plants for 1.5m new homes planned for the South East will cost £20bn, according to The Guardian. Tax breaks for homes with solar panels and windmills will feature in tomorrow’s Budget, says The Guardian. Older people haveRead More →

The Organisation for Economic Cooperation and Development (OECD) warned the Bank of England (BoE) needed to press ahead with interest rate cuts, as the treasury is running out of options to produce further tax or spending boosts to help the ailing British economy. Britain has been identified as beingRead More →

The Bank of England (BoE) mortgage approval figures for December show that the numbers fell for the seventh consecutive month. Only 73,000 mortgages were approved last month, down from 81,000 in November. House price inflation in England and Wales also fell sharply in December, according to Land Registry figures.Read More →

According to research by the New Economics Foundation, when taking into account the practical and emotional risks of moving off benefits and into insecure or low-paid work, the incentives for homeless people to enter work disappear. The report recommends the government looks at paying incentives to homeless people toRead More →

Hertfordshire county council and St Albans district council have issued a legal challenge to the government over its regional spatial strategy in the East of England plan. The councils object to designations for 12,000 additional homes in Hemel Hempstead, 10,000 in Welwyn Garden City and Hatfield, and 7,200 inRead More →