Good morning. Here is your AM bulletin, with the latest news and views from EG, along with a few of the best bits from the morning papers.
The prime minister has delayed plans for a full cabinet reshuffle until after the King’s Speech. Levelling up secretary Michael Gove had been tipped to change roles, but will now stay in position until at least November.
A key Home REIT tenant has surrendered 100 leases as the REIT’s new investment manager seeks to “stabilise” the beleaguered company. Home stated that while the rent received would be a fifth lower, at least it would be paid.
The chancellor has been urged to cut taxes, after new data showed borrowing costs had fallen. But economists have warned that, despite a rising tax take and falling costs, Jeremy Hunt is still likely to miss his fiscal targets.
And Number 10 has been blocked from overruling the expansion to London’s ultra-low emission zone. Government lawyers warned that any attempt would be rejected by the courts.
The UK risks losing out to the US and EU in the global race to a net zero economy, unless the government takes a “Dragons’ Den approach” to investment, says the IPPR think tank.
In other news, Trafford Council and the Greater Manchester Combined Authority have chosen FEC as a development partner for the regeneration of a former police station site in Stretford.
Sports brand Head has chosen Knight Dragon’s Design District on the Greenwich Peninsula for its new Innovations and Creative Studio.
Meanwhile, The Times (£) argues that London is overtaking San Francisco as the number one location for AI start-ups.
But the FT (£) warns that a lack of capacity in the UK electricity grid will continue to hold back investment.
Inverclyde in Scotland has been named the most affordable place in the UK to buy a house, as the gap falls from last year’s record high.
And you can air your views on the RICS self-regulation plans with our latest survey.
And finally, any further destruction of The Crooked House pub has been prevented, thanks to a group of ghost-hunters. The Black Country Paranormal Society stayed up all night on site, to keep an eye – and an EKG meter – out for any suspect activity and deter any further destruction to the site, which has already been burnt down and bulldozed. Unfortunately, their efforts at scaring away night visitors were a little too effective, as they failed to spot any ghosts either.
