Wriglesworth Paper Summary June 21st 2013

Everywhere Front Page – ‘One’s Won!’ The Queen becomes first the monarch to win the Gold Cup at Royal Ascot

 

Local authorities face another 10% cut in their budgets in 2015-2016, putting a serious squeeze on children’s services and adult care in particular. Eric Pickles has been forced to accept one of the highest cuts to his Communities department to protect spending on healthcare, schools and overseas aid. The extra 10% cut means council budgets have been reduced by more than 35% since 2010. The LGA said last month that more cuts would result in a squeeze on children’s centres, museums, sports centres, road maintenance and street lights, The Times, Jill Sherman

 

There could be a construction shortfall of more than 51,000 new homes each year for the next decade if local authorities do not set more ambitious housing targets, according to a report from BNP Paribas. A survey of LA’s showed that their housing targets had fallen to about 170,000 a year, against government forecasts of 221,000. The Times, Deirdre Hipwell

Mortgage lending leapt by nearly a quarter in May, prompting experts to predict another housing boom. The CML said its data showed stronger house purchase activity than expected, revealing the highest lending for any month since October 2008. David Whittaker from Mortgages for Business described the market at ‘fizzy again’. Daily Telegraph, Rosie Murray-West.

 Claire Jones and Henry Foy at the FT grouped together the CML figures with the positive retail sales figures, as a positive recovery story.

 

PWC yesterday forecast a net increase of 263,000 London jobs within the next five years. Using figures from the OBR, PWC predicted all other UK regions will also see a rise in total employment as the loss of public sector jobs is offset by a gain in private sector jobs. London will have the largest rise in jobs while Northern Ireland and Wales will be the most affected by the public sector cuts, seeing only 1.2% and 0.9% employment growth throughout 2018. City AM, Helen Ball.

 

And

The MWD (Minimum Wage Dress) is set to take the UK by storm. The tiny dress costs £3.68, the minimum hourly wage for under 18’s, comes in three colours and is designed for “play, party and work”.

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