My two daughters are about to buy their first homes. Both had been waiting impatiently for Rishi Sunak’s mini-Budget, setting alerts on their phones to make sure they didn’t miss the Chancellor confirm his much-trailed statement on cutting Stamp duty.
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While most of the media has been focussing on possible bank runs, the most important development in the SVB drama has been overlooked.
Billions of dollars have been wiped off global banking stocks after SVB revealed big bond losses.
It is not many years since making motor cars was a triumph of British industrial revival. Not any more.
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