Bank of England begins climate enforcement with a velvet glove | Larry Elliott | Business – Business Article

We can already hear the distant thunder of climate change and must not wait for the storm to hit. The Extinction Rebellion protesters that blocked London traffic? No, a senior Bank of England official telling banks and insurers that from now on they will be expected to make global warming central to the way they operate. Threadneedle Street would never publicly endorse action that causes disruption but the speech by Sarah Breeden, head of international banks supervision, suggests a degree…

Read More

Labour considers house price inflation target for Bank of England | Business – Business Article

The Bank of England could be set a target for house price inflation under plans being explored by the Labour party, with tougher powers to restrict mortgage lending to close the gap between property prices and average incomes. The shadow housing secretary, John Healey, is considering whether, under a Labour government, the Bank should be set an explicit target following a decade of runaway growth in the property market, with the aim of tackling the housing crisis. Under the proposals,…

Read More

Labour report urges investment to revive struggling regions | Business – Business Article

A future Labour government should use funds from a national investment bank, targeted transport spending and buying British as part of a long-term strategy to spread economic prosperity to the struggling regions, a specially commissioned report for the party has said. The report called for funding from the national investment bank – a key plank of the opposition’s economic strategy to be heavily skewed in favour of communities hard hit by the decline in manufacturing, with funding per head more…

Read More