May 5, 2017
Digital economy bill rushed through Parliament ahead of election 0
The government has rushed the Digital Economy Bill through parliament as part of the legislative wash-up ahead of the general election The Bill will introducing provisions for a Universal Service Obligation (USO) that gives people the legal right to request broadband speed of a certain level. The controversial Bill became law at the last possible moment before the dissolution of parliament, but a House of Lords amendment demanding a minimum legal broadband speed requirement of 30Mbps has not made the final cut due to concerns that not enough people have taken up a superfast service on the open market to justify its introduction. However, the government will ask Ofcom to review the minimum download speed once the take-up of superfast has reached 75 percent.
May 1, 2017
Fresh concerns raised about council investments in commercial property market 0
by Mark Eltringham • Comment, Property, Public Sector
As we reported last month, the level of investment in commercial property undertaken by UK local authorities is raising serious concerns within both central government and the real estate sector. Now, a fresh warning has been issued by the former business secretary Sir Vince Cable that councils face potential bankruptcy if the property bubble bursts. In recent years councils have faced an average 37 percent real term cut in government funding and so have taken to borrowing large sums at low interest rates from the Treasury’s Public Works Loan Board to reinvest in commercial property ventures. The move has already been identified as risky by the Government’sown Public Accounts Committee and Cable joins a chorus of voices in expressing doubts.
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