Good morning,
The prime minister is urgently seeking a compromise over a major revolt that threatens to derail the Levelling Up Bill. Rishi Sunak needs to placate rebels, including two former prime ministers, who want to overturn the de facto ban on onshore wind farms, but he has been warned that doing so would lead to another rebellion within his own party.
Meanwhile, shadow levelling up secretary Lisa Nandy writes in The Times (£) that the entire bill is just “another broken promise”. Labour, incidentally, is backing the wind farm rebellion, but is also tabling an amendment with more teeth.
Round Hill Capital has placed the entity that employs the majority of its UK workforce into liquidation. The residential investor said it expected a “period of slower activity” having previously “staffed for growth”.
LendInvest is launching a £300m open-ended fund focused on short-term transaction loans. More than £200m has already been committed by investors.
And shares in Home REIT fell by more than 7% yesterday after it was forced to delay publication of its results. Its shares have fallen by more than a fifth since short-seller Viceroy Research launched its attack last week.
Liverpool will become the first UK city to launch a city-wide Accommodation BID following the success of its Eurovision campaign.
And Stuart Harris has been promoted to run Milligan, as founder John Milligan takes a step back.
The chancellor has been told he must commit billions more or miss his new target to cut energy use by 15% by 2030.
And a lack of investment in flood protection could double the number of properties at risk.
SEGRO has launched community investment plans for seven of its key UK markets, covering Slough, Greater London, Northampton, Coventry and the East Midlands.
And finally, a few years ago it was feared that landlords and private parking firms would lose valuable revenue following a crackdown on parking fines. Not so, it would appear. Seven of the top firms have raked in turnover of more than £650m and profit of £50m over the past three years. Tickets issued have risen by 50% in a year to 30,000 each day – or one every three seconds. This year £1bn of fines will be issued. Many at hospitals. Time for another crackdown?
