Cornish neighbourhood plan 'declares war on wealthy outsiders'

Reports that residents of a Cornish seaside resort are seeking to use a neighbourhood plan to block the building of any new holiday lets features in today's newspaper round-up.

The Telegraph reports that residents of St Ives, the Cornish resort, have "declared war on wealthy outsiders by proposing a ban on new second homes". According to the newspaper, the townsfolk have published a draft neighbourhood plan which contains proposals to "block the building of any new holiday lets or second homes to stop locals being priced out of the housing market". The newspaper adds: "It may be the first time a neighbourhood plan has been used to restrict building."

The Financial Times (subscription required) reports that Birmingham and the neighbouring Black Country have "buried historic rivalries and agreed to form a combined authority of councils, hoping that as a bigger region they will be able to take on new powers over spending and economic policy". According to the newspaper, the five Midlands council leaders – from Birmingham, Wolverhampton, Walsall, Dudley and Sandwell – have written to chancellor George Osborne to seek a meeting to discuss their plan.

The Times (subscription required) reports that the head of the CBI is urging George Osborne to spend £600 million digging a tunnel under Stonehenge to ease traffic flow on the "glorified car park that is the A303". The newspaper reports that John Cridland’s call for the road between the South West and London to be widened is one of the CBI’s business wishes for the chancellor’s autumn statement next month.

The Guardian reports that Qatar is aiming to add yet another London landmark to its string of trophy assets in the capital, with a bid to take over the company that controls Canary Wharf. "If the bid is successful, the energy-rich state would be adding buildings that make up some of the most famous parts of the London skyline to a range if investments that already includes Harrods and stakes in Sainsbury’s, Volkswagen and Porsche," the newspaper reports.

The Times (subscription required) also reports that young homeowners in England and Wales are set to almost halve over the next five years as it becomes harder to make the first step on the property ladder. The newspaper reports that research by property firm Savills suggests that the share of those aged 34 and under who own their own home will tumble from the present rate of 29 per cent to 16 per cent by 2019.

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