News Headlines: Tuesday 4th February

Property

A new planning court will fast-track large scale developments under plans to beat costly legal challenges. Justice Secretary, Chris Grayling is to put forward the measures which include a stipulation that only groups with a financial interest can lodge a complaint. Judicial review applications more than doubled between 2000 and 2012, leading to concerns that major projects are being held up.

PF

The state pension is to rise by around £1,000 by the end of the decade as the Lib Dems agree to the triple lock pledge. They are the last of the three major parties to do so, guaranteeing a rise of around £20 per week. The National Pensioners’ Convention welcomed the news but expressed dismay that the consumer price index is used, rather than the retail price index which is higher.

Economics/Corporate

The public could be offered the chance to buy shares in Lloyd’s banking group as early as next month in a surprise announcement ahead of its results. Six per cent of the bank has already been sold to institutional investors but the chancellor is expected to authorise the sale of a larger part of the government’s 33% stake to both institutional investors and the public. Ian King in the Times comments that Ed Miliband’s recent promise to tackle a lack of competition in the banking market may affect the price, and should be given space in the retail prospectus.

Recruitment

The Association of Graduate Recruiters predicts a rise of 10.2% in vacancies for the coming recruitment round, following a rise of 4.3% last year. The biggest rises were in IT and Telecoms, the public sector, energy companies and banking and the financial sector.

 

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