Paper Summary for 2nd October

PF

Millions of workers face a “nasty shock” when they retire and find out how little money they have to live on. The Axa Life Costs of Living in Retirement report shows that people are unclear how their pension scheme is performing and are also unclear over the amount of income it is likely to provide.

RBS new chief executive New Zealander Ross McEwan has marked his first day in charge with a pledge to increase lending and simplify the bank. 

 

Property

Village greens have been put at greater risk of development by new planning rules, campaigners said yesterday.  Until yesterday, communities were able to apply for land to be given protected village green status if it had been used for recreation for 20 years, but new regulations will make it easier for landowners to earmark this land for development and thus alter its status.

 

Economic

Many mortgage lenders are still voicing concerns over the Help to Buy scheme that will be launched on Monday.  So far the only two banks to endorse the scheme are the state backed Royal Bank of Scotland and Lloyds.  Unless other banks or building societies join the scheme, in substantial numbers, the mortgage market could find itself more skewed to lenders that are backed by government. 

Recruitment

In The Independent Simon Neville reports that campaigners and MPs claim the government is failing to recognise the true extent of workers employed on zero-hours contracts because it continues to use figures which understate the problem.  Shadow business secretary Chuka Umunna said: “Ministers have their heads in the sand and are refusing to admit the huge proliferation we’ve seen on their watch of growing insecurity at work.”

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