And today it is expected that Ms Blears will warn that the recession could tip Britain into civil unrest unless voluntary organisations are given extra resources. She said that a recession could drive people apart and ‘fracture community spirit’ or bring them closer together. Read More →

In a draft version of the Queen’s speech yesterday, Gordon Brown announced a £100 million ‘leg-up’ on the property ladder for first-time and low-income house buyers. For the first time, these groups will be able to buy new homes through a shared ownership scheme that had previously been limitedRead More →

Houses for first time homebuyers now cost five times their income according to research by Hometrack. And the percentage of income mortgage payments take up, seen as a fairer measure of affordability, has virtually doubled since 1990 to 32 per cent. Figures indicate that just under a quarter ofRead More →

The number of new homes being built in Britain next year will fall below 80,000, government housing officials say, while this year only 120,000 new homes were built, the lowest figure since 1924 and 140,000 below the official government target. The lack of development finance will mean the governmentRead More →

Typical householders have ‘no realistic hope’ of paying off their debts in their lifetime, Citizens Advice said today. People turning to CAB advisers for assistance owed an average of £16,971, an amount that would take 93 years to pay off. The most common reasons for debt were low incomes,Read More →

The Bank of England has left interest rates at 5.25 per cent for the second month. The decision was not unanimous – six members of the Monetary Policy Committee, which determines the rate, wanted to keep the rates unchanged due to rising inflation, while three members argued for anRead More →