PM TO TRAVEL TO BRUSSELS FOR TALKS WITH EU COMMISSION PRESIDENT

The prime minister Boris Johnson will travel to Brussels later this week to meet European Commission President Ursula von der Leyen, in a bid to reach consensus on a post-Brexit trade deal (BBC News). The two leaders held a call yesterday, after which they issued a joint statement warning that the ?conditions for finalising an agreement? were not there yet and that there remained 'significant differences on three critical issues: level playing field, governance and fisheries? (The Times, £, p1). Timings for the face-to-face meeting have not yet been confirmed but the Financial Times (p1, £) reports it could take place as soon as tomorrow, ahead of a summit of EU leaders on Thursday.

HOUSE PRICES SEE BIGGEST ANNUAL RISE SINCE 2016

House prices in the UK increased by 7.6 per cent in the year to November, the sharpest rise since June 2016, according to the latest Halifax House Price Index (Reuters). The figures showed average UK house prices have risen by around £15,000 since June, the strongest five-monthly gain since 2004 (The Times, £, p38). The Daily Telegraph (£, B4) reports that the housing market has so far been largely insulated from the economic impact of coronavirus due to support measures such as mortgage payment deferrals. The latest figures from UK Finance reveal that 127,000 mortgage payment deferrals were in place in mid-November,a significant reduction in customers seeking this form of support compared to June's peak of 1.8 million.

NEWS IN BRIEF

A tailored, regional approach is required to support the UK's economic recovery from the Covid?19 outbreak, according to a report from Lloyds Banking Group (The Times, £, p36).

The outlook for the UK labour market is one of the weakest in Europe, according to a survey by the recruitment firm ManpowerGroup (The Guardian, p27).

Retail sales in the UK grew 0.9 per cent in November compared with the same month last year, down from a 4.9 per cent annual expansion in October, data compiled by the British Retail Consortium has revealed (Reuters).

The EU will impose sanctions on alleged serious human rights abusers around the world under a new piece of legislation agreed on Monday (Financial Times, £, p6).

LATEST BLOGS

Agathe Duchiron, Analyst, Sanctions Policy, discusses the likely publication later this week of the EU's new Global Human Rights (GHR) Sanctions Regime.