National house prices rose by just 0.4% in June, according to Britain's largest mortgage lender the Halifax, as the latest evidence emerged of a market slowdown - and a widening rift between nationwide property prices, reports The Times.
In Greater London prices rose by 4.9% last month, the Halifax said, with Northern Ireland roaring ahead with an increase of 8.5% for June.
Northern Ireland is now the most expensive part of the UK to buy property outside London and the South East, the Halifax said.
But according to today's figures, surging prices in these economically more prosperous areas are masking real declines in less well-off areas.
GORDON BROWN UNWITTINGLY KICKED off the current private equity boom with his controversial decision to scrap the dividend tax credit 10 years ago, one of the industry's leading figures told an influential committee of MPs yesterday, reports The Independent.
Jon Moulton, the head of Alchemy Partners, said the then Chancellor's decision had fuelled the massive growth in debt-financed buyouts of public companies that have subsequently become hugely controversial.
He told MPs on the Treasury Select Committee: “Debt became more favourable in the UK when the tax credit was taken off dividends. The system has been changed to favour debt over equity.”
Mr Moulton's comments are set to fuel the controversy over the withdrawal of the credit - available to pension funds and other non-taxpayers - which was dubbed “the Chancellor's smash and grab raid on pension funds”.
PROJECTS IN LIFE SCIENCES, business services and information technology received the biggest boost as inward investment to the UK soared to a fresh record last year, the government said yesterday according to The Guardian.
The UK won 1,431 investment projects from overseas companies in 2006/07, an increase of 17% from the year before, the government body UK Trade & Investment said.
The figures mark the fourth consecutive year the UK has attracted a record number of investments, maintaining its position as the largest recipient of foreign direct investment in Europe and second only to the US worldwide.
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