Tuesday 25th September

Allister Heath writing in CityAM says Britain needs more venture capitalism not a state bank in the light of Vince Cable’s government-backed bank for small firms. He says small businesses are extremely risky, most go bankrupt quickly, only a few go on to make it big, so the chances of a lender losing all of its money is very high. Equity makes much more sense but abolishing capital gains tax for equity investing would help to boost returns for successful investors.
Prime London property prices still soaring up registering another quarter of growth in the three months to September says Savills. However, Chelsea is the only area seeing yearly double digit price growth.

Personal Finance
A record number of people are retiring this year as the post-war “baby boom” generation draws its pension, according to the ONS. There are seven hundred and twenty six thousand and sixty nine people aged 64 in England and Wales, with implications for housing policies, health services and social care services.
One in three businesses would hire staff if they could obtain growth finance says research by “peer-to-peer” lending website Funding Circle.


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