Closing summary
The chancellor, Jeremy Hunt, has moved to quash speculation that HS2 trains will not run to central London, saying he did not see “any conceivable circumstances” in which the planned Euston terminus would not go ahead.
It had been reported that the high-speed rail network could instead terminate permanently in the western suburbs of the capital, stopping short of central London to save money.
The chancellor has signalled tax cuts will only come “when the time is right” and be matched by “spending restraint”, as he seeks to temper restive Conservative backbenchers’ expectations ahead of the budget in March.
However, Hunt said he hoped to inject what he described as much-needed optimism about the country’s future, saying he wanted Britain to “have nothing less than the most competitive tax regime of any major country”.
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Thank you for reading. Have a great weekend! We’ll be back next week. – JK
Updated
UK for sale: how the wealthy hold British property via offshore firms
Exclusive: New register shines light on how businessmen, Gulf royals and states such as China have spent billions through offshore jurisdictions.
The BBC chair, Richard Sharp, more than 20 Conservative donors, a string of billionaire businessmen and the Formula One driver Lewis Hamilton are among those who have declared they own UK property through offshore jurisdictions, a Guardian investigation has found.
The declarations are made on the UK government’s new register of overseas entities, brought in to increase transparency and help the tax authorities by showing the ultimate owners of British property held offshore.
It shines a light on how wealthy businessmen, Gulf royals and states such as China have legally bought up billions of pounds of mostly London property, often via jurisdictions such as the British Virgin Islands (BVI) and the Channel Islands.
