From 1st July the Council of Mortgage Lenders is integrated into a new trade association, UK Finance. For the time being, all UKF mortgage information will continue to be published on this website, and UKF member-only mortgage information will only be available here.

UK Finance represents around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation takes on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association. Please go to www.ukfinance.org.uk for wider content and updates from UK Finance.

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Week in Westminster - 1 September 2017

Week in Westminster

Published: 1 September 2017 | Author: Michelle Vosper

The third round Brexit negotiations concluded this week. The two sides remain deadlocked on the major issues – the financial settlement, the Irish boarder, and EU/UK citizens. The next round of talks will take place on 18 September. In the meantime, the Government will continue to publish further policy positioning papers, including one on financial services.

Meanwhile the Labour Party is pushing for a short transition deal following the conclusion of EU exit negotiations which would keep the UK in the Single Market and retain freedom of movement of people. And the All-Party Group on EU Relations is calling on government to keep Britain in the EU’s Custom Union permanently after Brexit.

Housing

A new report from the London Assembly’s Planning Committee has called on the Mayor to use his powers to kick-start a “housing revolution” by promoting offsite manufactured homes. In its report, Designed, sealed, delivered: The contribution of offsite manufactured homes to solving London's housing crisis, the Committee calls on Sadiq Khan to create a standard design code for offsite manufacture designating public land, resources and planning powers to incentivise the sector.

Government announcements

Theresa May has criticised excessive boardroom pay as the “unacceptable face of capitalism”, as the Government publishes its corporate governance reforms. Under new laws, companies will be required to disclose the pay ratio between chief executives compared with the average employee.

Internal advice in respect of the Cabinet Office review of the organisational framework for combatting economic crime would be provided to Ministers by the end of summer, the Prime Minister has confirmed. Commenting on this, Treasury Committee Chair Nicky Morgan suggested the Committee would expect to see robust evidence that any proposed change would improve the UK’s response to economic crime.

People

Kezia Dugdale has resigned as Scottish Labour Leader on Tuesday with immediate effect. Her deputy, Alex Rowley, will act as interim Leader until an election is held for her replacement.

Parliament returns for a two-week period from Tuesday 5 September before rising again on 14 September for party conference.