Michael Gove has just wrapped up his planning reform speech, vowing to build Britain’s “Silicon Valley” in Cambridge with 250,000 new homes and tear up red tape to tackle the UK’s housing shortage. Although not before Tory backbencher Anthony Browne tweeted he would do everything to stop “nonsense plans to impose mass housebuilding” on his own patch, obviously…
Gove confirmed the government would push ahead with plans to relax planning rules in city centres, allowing empty retail outlets to be converted into flats and houses with less pointless bureaucracy in the way:
“We are unequivocally, unapologetically and intensively concentrating our biggest efforts in the hearts of our cities,” Mr Gove said in a speech. Because that’s the right thing to do economically, environmentally, and culturally. [We will] use all of the levers that we have to promote urban regeneration rather than swallowing up virgin land… We will enable brownfield development rather than greenbelt erosion.”
He assured he was still committed to building 300,000 homes a year – without specifying which year – although someone should let CCHQ know before the next by-election leaflets are posted out. The PM himself also weighed in this morning, claiming it’s important to build “in the right way“, and “in the right places with the support of local communities and not concreting over the countryside“. Wouldn’t want to upset the NIMBYs too much…
Remember that mass exodus from the City of London that was supposed to happen after the vote to Leave? In October British Bankers’ Association boss Anthony Browne predicted major banks would relocate in the first few months of 2017. The Observer reported:
“Britain’s biggest banks are preparing to relocate out of the UK in the first few months of 2017 amid growing fears over the impending Brexit negotiations, while smaller banks are making plans to get out before Christmas.”
At the time Guido offered Browne a £1,000 bet that not one leading bank will give up its UK banking licence next year to relocate to the EU.
As we enter March, even the City’s Remain-campaign-funding house journal Bloomberg is wondering “Are banks bluffing?”. Today they quote several City bosses who believe talk of an exodus is bluster. Jason Kennedy, CEO of finance recruitment firm Kennedy Group says:
“[The banks] are a bit like dogs backed into a corner and barking — it’s just noise. This is all about applying as much pressure as possible on the government to get the best deal. What have the banks have got to lose? Scream the house down and see what happens.”
“Barclays is planning to move only 150 jobs from London, if any”, Bloomberg reports, quoting their CEO Jes Staley:
“We don’t believe Brexit will result in a significant move of people away from London.”
A “senior bank executive” believes “The banks are bluffing” and HSBC won’t move as many people as they have been threatening. And “One European banking boss quipped that the only way France would be top of his list would be if you turned it upside down”. Guido’s bet is still open to any takers…
Anthony Browne of the British Bankers Association is a deservedly well paid lobbyist on behalf the industry. He earned his crust this weekend by getting the Observer’s front page splash:
The lurid claim made in the first line is that
“Britain’s biggest banks are preparing to relocate out of the UK in the first few months of 2017 amid growing fears over the impending Brexit negotiations, while smaller banks are making plans to get out before Christmas.”
This echoes the claims made during the referendum campaign – claims which included that Britain will go into immediate recession this year if we dared to vote to leave the EU. Guido tried to bet anyone of the 71% of City economists who made that claim £1,000 that there would be no recession in 2016. Not one economist him up on the wager. So Guido’s new offer is to Anthony: £1000 says that not one leading bank will give up its UK banking licence next year to relocate to the EU.
Winnings to charity. Well Anthony, do we have a bet?
