The Governor of the Bank of England was thrown on the defensive yesterday after the deepening economic slump forced it drastically to rethink its forecasts for Britain’s prospects. Mervyn King was forced to deny that he had been caught out by the pace and scale of the country’s slideRead More →

A strategy to avoid people becoming homeless by providing earlier intervention has been unveiled by the Welsh Assembly. The 10-year homelessness plan will change the way housing services are delivered so they can respond faster to people in need – to stop them from losing their homes and forRead More →

Redrow and Barratt Developments accused the banks of downgrading valuations on new properties to restrict lending. Redrow said the practice of down valuation by surveyors representing mortgage lenders was ‘widespread’ and posed a ‘major obstacle’ in the recovery of the housing market. It blamed the gap in valuation forRead More →

COUNCILLORS IN CRAWLEY have voted to cancel a stock transfer ballot after opinion surveys showed overwhelming opposition among tenants. The decision follows a row over the true costs of upgrading the council’s 8,500 homes and the defection of a Conservative councillor to the Liberal Democrats over the issue. TheRead More →

Councils in England and Wales are drawing up plans for a national bank to pool billions of pounds of cash they hold on deposit and invest it in stalled infrastructure projects. The fund would pool up to £20 billion belonging to the 420 local authorities in England and Wales,Read More →

The government’s spending watchdog the Audit Commission warned that the recession and rising unemployment will cause a wave of social problems in the coming year. The commission found the recession is already causing more homelessness in one-third of local authorities, while two-thirds predict the problem to worsen next year.Read More →