Good morning,
The prime minister wants to scrap the hike in capital gains tax set to kick in next April. But the chancellor is holding firm to his belief that raising the rate from 19% to 25% won’t harm investment. He prefers to use targeted tax reliefs instead.
Norges Bank IM and British Land have won approval from Westminster City Council to redevelop the unlovely West One shopping centre above Bond Street Underground station, W1. The second to fifth floors will be demolished and replaced, adding an extra 49,000 sq ft of offices.
Nearly 200,000 homes in England will have to be abandoned by 2050 due to rising sea levels. The value of the properties at risk is in the tens of billions of pounds, in areas ranging from Eastbourne to East Anglia.
Meanwhile, demand for new-build homes is getting stronger despite, say Crest Nicholson and Bellway. The strong demand, despite the prospect of a looming recession, has lifted shares across the sector.
Meanwhile, New Zealand’s extraordinary house price rises – 43% average over two years – have begun to settle down again.
The people of Whitby have voted overwhelmingly to turn the tide on second homes in the Yorkshire seaside town. Some 93% said they wanted new homes to be reserved for locals.
In infrastructure news, 23 scientific research sites will receive a share of £481m from UK Research and Innovation.
And the government has confirmed plans to take a “special share” in the £20bn Sizewell C nuclear plant.
Donald Trump has lost his appeal. The former president and his two children will now have to testify to the probe into fraudulent valuations across his property empire.
Plans to turn a Lake District quarry into a zipline theme park have been met with fury by locals and campaigners. They say there is no justification to turn a “national park into a theme park”. Sounds fun, though.
And finally, the return to the office is causing huge emotional turmoil and could potentially be injurious to health. Incidents of high anxiety, distress and stress-related property damage have all been recorded as a result of people returning to their desks. As working from home recedes, police are frequently being called in to deal with howls of anguish. Hair loss is being reported, appetite issues, erratic behaviour and really mournful, soulful expressions. And more furniture is being chewed. By the people? No, by their dogs! Our canine companions(£) are apparently distraught that we have stopped working from home. Our solution? Any office of the future must be dog friendly. Problem solved.
