News round-up 26/10: Investors 'surprised' by recession end

 Economy

Britain’s double-dip recession has ended after the economy grew in the third quarter, surprising investors and cutting the chances of the Bank of England injecting more stimulus next month, reports the Financial Times.

The paper says the official outlook statistics would have been more of a surprise if Prime Minister David Cameron had not appeared to hint there would be “good news” in Parliament on Wednesday.

Housing

Council workers’ pension funds should be employed to pay for house-building projects to help reinvigorate the “dysfunctional” housing market, according to a report cited in The Daily Telegraph. The Future Homes Commission says money from authorities’ pension funds could help create a £10bn ‘local housing development fund’.

The commission was set up by The Royal Institute of British Architects.

Town high streets

Totnes in Devon has seen off attempts by national coffee chain Costa to open a branch on the high street, the Times reports. Despite a proposed 70-seat shop being granted planning permission by South Hams DC this summer, a petition signed by almost 6,000 people persuaded the chain not to go ahead.

Infrastructure

Ministers have announced a £1.3bn compensation package for households and businesses that have to sell up to make way for the new High Speed 2 railway between London, the Midlands and the north of England, reports The Guardian

More than 1,000 home and business owners whose property will be knocked down or who live within 60 metres of the planned route are being offered the value of their homes before the line was announced and an extra 10%, up to another £47,000.

Climate change

Climate change sceptic Peter Lilley has been voted onto the commons energy and climate change committee, the Times reports. The appointment of Mr Lilley, who has described himself as a “global lukewarmist”, voted against the 2008 Climate Change Act and has a second job with an oil company, led to accusations from Labour committee members that the Tories were “sticking two fingers up” at attempts to deal with climate change.

Ford plant closure

The Financial Times leads with news that the Ford Motor Company is cutting 1,400 British jobs with the closure of two manufacturing operations. The US car maker said it would shut a transit van plant in Southampton next year and end stamping and tooling operations in Dagenham.

Road safety

The government is neglecting road safety, a report by a commons select committee claims. In comments reported in the Times, Louise Ellman (Lab), chair of the transport committee, criticised ministers for not endorsing recommendations in her committee’s inquiry into improving road safety. The government has said it will not force all lorries to fit sensors to protect cyclists and pedestrians.

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