UK property asking prices rise sharply in February

The average asking price for a house has risen by nearly £8,000 this month, the largest increase in more than 20 years according to data from Rightmove (The Times).

Separate data by the Bank of England reported that the borrowing rate on the outstanding stock of mortgages fell to two per cent in December, a record low (Financial Times).

New taxes cost business extra £50 billion

New taxes brought in by the government over the past decade have cost businesses more than £50 billion according to research by Thomson Reuters (The Times).

Separately, the CBI has called for the super-deduction tax allowance to be made permanent in order to increase business investment in the UK (BBC News).

NEWS IN BRIEF

Fraudsters are exploiting the cost of living crisis by sending text scams that prey on households facing soaring energy bills (Daily Telegraph).

UK fintech firms have called on the government to increase its efforts to overhaul regulation and build a world-leading environment for the sector, in a letter compiled by Innovate Finance (City AM).

Demand for homes for older people is four times higher than supply according to the developer McCarthy Stone (Daily Telegraph).

The prime minister is expected to announce the long-term strategy for living with Covid-19, with proposals expected to include a scaling back of testing provisions and the scrapping of the legal requirement to self isolate following a positive test (Financial Times).