Author Archive
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Confidence in the UK banking system stabilising
Consumer confidence in the UK's banking system is stabilising, according to new research from Ernst & Young. Confidence in banks decreased in both 2011 and 2012. But in 2013 confidence began to stabilise - 52% of consumers said their level of confidence had not changed; 37% said their confidence decreased; and 11% said confidence increased – broadly double the percentage who said their confidence increased in 2011. Despite this, banks are still struggling to build brand loyalty. ...
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Winter cropping area up 14%
A new survey from the Agriculture and Horticulture Development Board (AHDB) shows a rebound in winter cropping in England and Wales for harvest 2014. A total of 2.976M ha was planted to wheat, winter barley, oats and oilseed rape by 1st December 2013 – 14% more than the total area of these crops harvested in 2013. Facilitated by favourable weather conditions last autumn, wheat plantings by 1st December in England and Wales are estimated at 1.815M ha, up ...
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New powers to protect park home residents
From 1st April 2014, local councils will find it easier to take action against park home site owners who fail to maintain or manage their sites adequately. Councils will be able to take enforcement action where owners are found to offer poor conditions and the new rules also mean that where an emergency situation arises and the park owner is unavailable to take immediate action, the council can step in – for example, if a power ...
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Co-op to sell farms
As part of a strategic review necessitated by losses at its bank, Co-operative Group has decided that its farms are non-core and has started a process that is expected to lead to a sale of the business. The group currently operates 15 farms across the UK, from Aberdeenshire to the West Country.
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Levy cut on self-build homes
Self-builders are now exempt from paying a levy previously placed on most new buildings over a certain size. In some cases, the charge added considerably to the cost of building a home. For example someone building their own 4-bedroom house 150 square metres in size could be liable to pay £15,000 in community infrastructure levy. Relief from the levy covers homes that are owner-occupied and built or commissioned by individuals, families or groups of individuals for their ...
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Treasury Committee – short inquiry into SME lending
The Treasury Committee has announced that it will be conducting a short inquiry into SME lending, focusing on three issues: access to finance for SMEs, the scope for opening up the sector to more competition and the treatment of SMEs by banks. The first evidence session will take place on 25th February and details of further sessions and formal terms of reference will be announced in due course. Written submissions to the inquiry should be made online. Chairman ...
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Red Throated Divers halt wind farm
The consortium behind the London Array offshore wind farm has announced that it will not proceed with the second phase of the project. The decision is linked to environmental issues which involve a wait of at least three years so that the potential impact of Phase 2 on the Red Throated Divers that overwinter in the Thames Estuary could be completely assessed. London Array general manager, Mike O’Hare, comments: “We believe it will take until at least ...
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New intellectual property support for Scottish firms
Businesses in Scotland can benefit from new support aimed at helping small firms identify, protect and grow their intellectual property (IP) assets. The Intellectual Property Office has launched "IP for Business" - five tools that can help Scottish firms keep up-to-date in managing their intellectual property, while at the same time obtaining more relevant advice from their accountants and other business advisers. In efforts to improve a poor understanding of IP generally, the new IPEquip toolkit can identify ...
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Business lending £417b below 2008 peak
The UK's consumer credit and residential mortgage lending markets are showing real signs of recovery, according to Ernst & Young's (E&Y) ITEM Club, with both expected to grow at a healthy rate of over 3% in 2014. But business lending remains 27.5% (£417 billion) below its 2008 peak and in the last quarter of 2013 hit a five-year low! However, the respected economic forecaster expects lending to firms to rise significantly over the next three years, with ...
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Massive tidal power plant to be built at Swansea Bay
Tidal Lagoon Power Ltd (TLP) is progressing plans to construct the largest tidal lagoon power plant in the world in Swansea Bay. After three years of feasibility work and impact assessments, the company has submitted its application for a Development Consent Order under the Planning Act 2008. Described as a "game-changing" infrastructure project for the UK, the application will now be reviewed by the Planning Inspectorate before public examination, and then determination by the Secretary of State ...
