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Posted by: Lorna Blackmore
12/01/2018

 

Trump cancels visit to open the new US embassy in London. Trump has claimed on Twitter that the reason behind calling of the trip scheduled for next month, was down to his displeasure at Barack Obama having sold the current embassy for ‘peanuts’ and called the newly built replacement for $1bn a ‘bad deal’. Trump’s Twitter confirmed this: ‘The reason I cancelled my trip to London is that I am not a big fan of the Obama administration having sold perhaps the best located and finest embassy in London, only to build one in an off location. Bad deal! Wanted me to cut the ribbon- NO!’ However, London mayor Sadiq Khan said that Trump had got the message that many Londoners oppose his policies and actions, and that the real reasoning behind the cancellation is in fear of protests. Khan went on to say that his visit next month would have without doubt have been met by mass peaceful protests as Trumps policies and actions are the opposite of London’s values of inclusion, diversity and tolerance said Khan. When Downing Street was asked about the cancellation they repeated that the government’s longstanding position that an invitation has been extended and accepted, but no date set. Instead of a state visit it had been expected that Trump would make a brief less formal visit to cut the ribbon on the embassy and then hold meetings with May. (Source – The Guardian)

The UK economy should expect a £54 billion hit by 2030 due to Brexit. An economic study was commissioned by mayor of London Sadiq Khan after the Government failed to produce one, investigated the impact of multiple Brexit outcomes. Conducted by Cambridge Econometrics, the assessment considers scenarios such as leaving the single market, the customs union - or leaving both. It also assesses the impact of a ‘hard Brexit’. The mayor told Sky: ‘This independent analysis should help guide the government to the best outcome for London and the UK.’ He added that the analysis concluded that the harder the Brexit we end up with, the bigger the potential impact on jobs, growth and living standards, and ministers are fast running out of time to turn the negotiations around. A “no deal” “hard Brexit” is still a very real risk. Khan accused the government for failing to conduct an impact assessment and that the complete lack of preparation is irresponsible. The mayor concludes that he was releasing such documents because the British public and businesses deserve to know how Brexit will impact their lives and finances. (Source – Metro)

Almost half of all homes sold in London last year went to first time buyers. This is the highest proportion since 2001. First time buyers are now ‘bargain hunting’ for their first homes. Bob Weston, founder of Weston Homes, which builds well- designed new homes largely for middle income level, is optimistic about further growth. Normally the market slows in the last quarter of the year, but not in 2017 and first time buyer’s sales have actually risen. So where will first-time budgets go furthest this year? The most popular areas Barking, Dagenham, Newham and Croydon. (Source – The Evening Standard)

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