Tradition and privilege under threat at discount houses

Article Abstract:

The London financial market is the only one where specialist dealers are allowed in the short-term money markets to stand between the banking system and the central bank, that is the Bank of England. These discount houses are the only organisations allowed to trade directly with the Bank of England and the clearing banks have to go through them. These clearing banks have long complained, saying things would be a lot easier if they could deal with the Bank of England direct. They may now get their chance as it is unlikely the present situation can continue in the run up to a European central banking system.

Banking industry, Innovations, Bank of England, Finance, Money market, Money markets

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Top end of the market faces slide in prices

Article Abstract:

The proposed changes in taxation by the labour Party will very badly affect the sales of the more expensive houses according to many estate agents. Increased personal taxation would mean that many selling chains could not be completed. These often involve four or five deals from the first time buyer at around 50,000 pounds sterling to the top end buyer at 250,000 pounds sterling. The critical price level will probably be around 100,000 pounds sterling. The impact on the whole market could be very severe.

Taxation, Real estate industry, Tax reform

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Gas bill shock: save money now

Article Abstract:

The UK government is still attempting to increase the popularity of the privatisation of state-run gas, electricity and water utilities with voters. Moves towards introducing competition in the gas market, which will drive down prices, are part of this process. Most domestic gas consumers will not be able to choose their supplier until 1998, but any household which already spends more than 1,100 pounds sterling a year on gas is entitled to choose a new supplier now.

Column, Gas utilities

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