Mortgage lending has surged to its highest level since the financial crisis according to data from the Bank of England. However, the Telegraph leads on the fact that business lending fell to its lowest level in six months. Mortgage levels are 33% above those a year ago, but this may lead to concerns that the recovery is being driven by consumer spending and a housing bubble.
The British Bankers Association has called for closer ties with the EU and has urged the government to do more to make the single market work. The Financial Times sees the intervention as a major sign of concern over David Cameron’s referendum plans, with the BBA arguing that Britain is under-represented in Brussels. However, Unilever chief executive Paul Polman backed Cameron’s plans for EU reform arguing measures need to be taken to increase its competitiveness.
High energy bills are often because old and draughty houses waste so much gas and electricity according to the npower chief executive. Upgrading the energy efficiency of older property could significantly reduce bills and counter large expected rises. This comes as energy bills are expect to hit £1,500 per year by 2020 due to rising green taxes.
UK bosses are among the most confident in the world about revenues and job creation according to a PWC report. Nine out of ten chief executives are upbeat about growing revenues in the coming year and two thirds plan to expand their workforce in the next year, compared to an average of 50% globally. PWC says it shows confidence expressed within the board room in recent months has translated into positive action.