Gordon Brown was given the green light to sign Britain up for membership of the euro yesterday by re...
Gordon Brown was given the green light to sign Britain up for membership of the euro yesterday by respected think-tank, the National Institute of Economic and Social Research, says a report in the Scotsman.
NIESR said the five tests which the Chancellor has set down before he will commit the UK to Europe's single currency have already been met.
"The five tests are basically satisfied if we can say output and welfare would be higher if we joined the euro, and we judge that to be the case," said Ray Bassell, NIESR report author.
Equitable Life, the troubled UK life assurer, paid its former investment officer £226,065 ($329,376) last year, even though he is one of the 15 ex-directors being sued by the society for losses of £3bn, says the Financial Times.
The assurer's annual report, published on Wednesday, also revealed that the payment to David Thomas, who resigned in April last year, included a special payment of £150,000 because he agreed to defer his retirement and stay on until August 16.
Nine other former directors being sued by the society including Chris Headdon, the society's former chief executive, and John Sclater, the former chairman, also received fees last year ranging from £7,143 to £45,377 in the case of Mr Headdon. The directors had all resigned by April 24.
The government will need to spend an extra £20bn to meet the demand for low cost housing from key workers and low income households priced out of the London property market, according to a report published yesterday, says the Guardian.
Ministers have paid £230m in housing subsidies over the last year to ease the chronic shortage of nurses, teachers and police in the capital and other affluent regions in the south and the West Midlands, and have said they plan to spend only £20m more helping key workers buy a home.
More than 4,600 workers in London are expected to benefit from the scheme, which has offered average subsidies of £27,000.
But surging property prices in the capital have left 800,000 households unable to afford even a £75,000 flat at a time when the average price of a property in Greater London costs £183,000, spurred by an annual rate of house price inflation in the region of 16.2%, says the report by the research arm of estate agent FPDSavills.
Putting the tech into protection
Square Mile’s series of informal interviews
Fallout from Haywood suspension
Launching later in 2019
£80bn funds under calculation