3 Things You Need To Know Today (9/8/17)
Please note this blog post was published over 12 months ago and so may not include the most up-to-date information, for example where regulation around investing has changed.
1. North Korea Guam strike plan
US intelligence have concluded that North Korea has produced a miniature nuclear warhead that can fit inside an intercontinental missile.
This makes the expected number of nuclear warheads that Kim Jong-un has up to as high as 60. North Korea has said it is “carefully examining a plan”, with US President Donald Trump saying threats will be met with “fire and fury like the world has never seen”.
2. Stamp Duty aggravating housing market
A Cabinet minister has warned that stamp duty must be reformed after a report said it reduces the rate of home moving by a third, meaning that large homes are not being freed up for young, growing families.
A report suggests that pensioners are unable to downsize because of the stamp duty cost. It is claimed that if stamp duty were to be scrapped then the rate of home moving would be 27% higher.
3. UK and Scottish ministers in Brexit power talks
The Scottish government has warned of a Westminster “power grab” over fishing, farming and the environment, and so will be in talks with UK minsters to discuss the possibility of releasing additional powers to Holyrood after Brexit.
UK minsters insist that new powers will be given to Scotland and that a UK-wide approach would be necessary. Under the UK government’s Repeal Bill, EU law returned to the UK from Brussels would go directly to Westminster.