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Owners of around 50,000 UK properties held by foreign companies remain hidden from public view, despite new transparency...
20/02/2023

Owners of around 50,000 UK properties held by foreign companies remain hidden from public view, despite new transparency laws.

The Register of Overseas Entities, launched in August 2022, was meant to reveal who ultimately owns UK property.

But analysis by BBC News and Transparency International found almost half of firms required to declare who is behind them failed to do so.

Labour MP Margaret Hodge said the legislation was not "fit for purpose".

A UK government spokesperson said the register has been an "invaluable source of information for law enforcement, and tax and revenue services".

The UK economy is struggling - and people are feeling it in their pockets, as wages fail to keep up with rising prices.T...
20/02/2023

The UK economy is struggling - and people are feeling it in their pockets, as wages fail to keep up with rising prices.

The International Monetary Fund (IMF) predicts the UK economy will shrink this year while every other major economy will grow.

The Bank of England also forecasts a recession in the UK in 2023 - albeit one that is shorter and less severe than previously forecast.

Perhaps it's not surprising the outlook is bleak given the pandemic, the war in Ukraine, and soaring costs of both energy and food.

Is it all down to Brexit?
Estimates about the cost of Brexit vary - according to a report by Bloomberg it is costing the UK economy roughly £100bn a year, and the economy is 4% smaller than it might have been if the UK had stayed in the EU.

"The EU is a very rich part of the world," says Carl Emmerson, deputy director of the Institute for Fiscal Studies, an independent think tank. "And we've chosen, for better or worse, to make trade with that grouping of countries a lot more difficult, so it's clearly going to be something that makes it harder for the UK economy to grow."

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