Tag: Featured

    The average price of property in London will hit £1 million by 2030, according to new research by Oxford Economics. Massive growth in the population from 8.5 million today to 11 million in 2036, coupled with a failure to buildenough houses, will mean property is pushed well beyond the reach of ordinary workers in the city. It warned that even factoring only modest wage growth in London - and assuming London prices keep pace with earnings rather than growing faster - average prices would still double in 15 years. It said: "If that happens alongside an increasing divergence between those with high and low incomes, then it will mean affordability problems for people on low incomes." Soaring prices London prices have been stagnating in recent months, and in some places hav...

    David Cameron has confirmed he will consider beefing up the new bill to give Scotland greater tax and welfare powers after Nicola Sturgeon complained the draft legislation failed to meet pledges on extra welfare powers made in the Smith commission. Speaking after his first post-election meeting with the first minister in Edinburgh on Friday morning the prime minister said he would look again at the welfare powers after putting the Smith commission bill in his first Queen’s speech later this month. Scottish parties are annoyed the draft bill fails to implement the Smith agreement proposal for Holyrood to introduce its own benefits or top up existing benefits. On Thursday, Holyrood’s devolution bill committee said the UK’s draft legislation failed to live up to the “the spi...

    Mr Thomas, who has been MP for Harrow West since 1997, told the capital’s Evening Standard newspaper that London was practically a “city state” and that it needed more powers to govern itself. “I’m keen to push more devolution of power to London and, crucially, to Londoners. We’re at a point now where the UK is no longer just a union of England, Scotland, Northern Ireland and Wales, but actually a union with the city state of London,” he told the newspaper. He said London was the source of most of the UK’s wealth and that its citizens deserved more of the fruits of the city’s labour. Mr Thomas held a string of ministerial jobs under the last Labour government at the department for international development and the business department. He has served in the shadow cabinet th...

    Shadow business secretary Chuka Umunna has withdrawn from the Labour party leadership contest. The 36-year-old, considered by many to be a front-runner in the race to succeed Ed Miliband, said he was not comfortable with the "added level of pressure that comes with being a leadership candidate". He said in a statement: "Shortly before the election campaign, I made the decision, in the event that Labour was defeated and a new Leader was to be elected, to stand for the leadership of the party if there was a desire in the party for me to do so. "I dearly hoped Labour would win the election and it was a decision I would not have to implement. "I also thought I understood the scrutiny and attention a leadership contest would bring. "As a member of the Shadow Cabinet, I am used...