News Headlines Saturday 9th February

 Property

Output in the UK’s construction sector grew fro the first time in six quarters in the final three months, halting a decline which had seen the industry shrink 11 per cent since the third quarter of 2011.  ONS figures show industry grew 0.9 per cent with buoyant growth in private housing and infrastructure FT p 4

 

Economic

Age of austerity hit the EU yesterday after David Cameron secured an unprecedented cut to its budget.  He won the crucial support of Germany to secure the first budget cut in the EU’s 55 year history.  This includes 2 year pay freeze for Brussels officials and he protected Britain’s £3 billion rebate secured by Margaret Thatcher in 1984, Times p 14

 

Recent slide in the pound is likely to force the Bank of England to lift its inflation forecasts next week, heralding a further clampdown on household incomes.

 

 PF

The outlook for Britain’s millions of savers looks even more bleak this weekend as it is becoming clear that very few cash Isas will be offering generous rates in the run-up to the end of the tax year, Times p 57

 

If you want to be happy, spend your money making memories – going on holiday and eating out make us feel happier than buying consumer goods – because we talk about the more, Mail p 15

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