CHANCELLOR IN TALKS TO BOOST UK EQUITY MARKETS 

The chancellor Jeremy Hunt has met with industry representatives to review schemes aimed at boosting UK equity markets (Sky News). 

Hunt could be considering the creation of a UK ISA, aimed at channelling investment into UK listed firms (This is Money). 

The proposal could be announced as part of a package to deliver growth in financial services at the Spring Budget on 6 March. 

RECORD YEAR FOR GOVERNMENT BORROWING FROM PRIVATE SECTOR EXPECTED 

The UK government is set to borrow £206 billion this year and £237 billion next year from the private sector, economists at Nomura have forecast (The Telegraph).  

Meanwhile, voters want the government to prioritise spending on public services over tax cuts, a survey conducted by Global Counsel shows (Bloomberg). Almost two thirds of Britons think any available fiscal headroom should be used to improve schools and hospitals, compared to just over a quarter who say it should go toward cutting income tax. 

NEWS IN BRIEF

The latest average mortgage rate for all new, two-year fixed mortgage deals has decreased sharply since the start of the year to 5.76 per cent, Moneyfacts has said (BBC News). 

Local groups could be offered “right to buy” over vacant pubs, shops and community centres, under plans being considered by the Labour Party (The Guardian). 

UK investors pulled £2.39 billion from ESG funds in the last year while money market funds thrived, data from funds network Calastone shows (The Times). 

Some English local authorities have called on the government to allow them greater powers to deal with empty properties, the Financial Times reports.