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King claims that Europe will not decide UK policy

Europe will not dictate regulation in the UK, according to Mervyn King, governor of the Bank of England.

King was giving evidence to the Treasury Select Committee last week as part of its enquiry into financial regulation.

He was asked by a committee member if decisions on a macro-prudential level in Europe would undermine the Financial Policy Committee, which will form when the Financial Services Authority disbands in 2012.

King says: “The European Systemic Risk Board will not have the power to instruct or determine what any national body can do. It may make recommendations but they will be at a generic level.”



Social housing cuts will affect landlords

Despite plans to build 150,000 affordable homes over the next four years, the chancellor’s announcement that social housing funding will be cut by more than 60% and new tenants will have to pay higher rents is likely to impact landlords and residents. But the major banks are reluctant to lend on buy-to-let and the issue […]

Dates for your DIARY…

DECEMBER 8Council of Mortgage Lenders annual dinner The CML’s festive dinner provides lenders and brokers alike with the chance to network and look back at 2010. It takes place on December 8 at Planit Embankment Gardens in London. DECEMBER 9Bank of England Monetary Policy Committee base rate decisionIt’s the last base rate decision of the […]

Auto-enrolment: tips for employers

The Pensions Regulator (TPR) has released advice on communications for employers, including three tips to help you with your auto-enrolment duties. 1. Allow enough time to select your pension schemeIt’s recommended that you start to prepare for auto-enrolment at least 12 months in advance of your staging date; additionally, give yourself time to choose the […]


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