Daily Archives: December 4, 2008

Jim Pickard

The Council of Mortgage Lenders has just distanced itself from the 75k figure which has rapidly taken hold in the media. It is a totemic number, as it is almost exactly the peak of the last recession: in 1991.

It’s not an official estimate though, contrary to numerous reports. The CML is predicting 45,000 repossessions this year. As for next year, it tells me: “It is not our forecast, it is very unlikely to be our forecast, we are putting out the new figure next week.” Read more

Jim Pickard

Environmentalists are delighted by the news – earlier this morning – that the Heathrow third runway decision has been postponed til the end of January.

With reports of splits among cabinet ministers (Hilary Benn and the Miliband brothers are the most vociferous opponents, I’m told) some see the delay as a sign that the project is doomed. Read more