Homes struggle

THE majority of local authorities do not think they will be able to meet the demand for affordable housing by 2007 - despite £3.3bn being invested in providing it, a report warned.

A study by the National Audit Office and the Audit Commission said the provision of affordable housing was a priority for both local authorities and the Government.

Despite this, only two per cent of local authorities questioned thought they would be able to meet the needs for rented social housing by March 2007.

Doorstep debts

DOORSTEP lenders are set to make £37m in interest payments from some of the UK's poorest families who borrow money to cover the cost of Christmas.

The Housing Corporation said the average parent planned to spend £137 on presents for their children this year. But people who are hard-up would be forced to borrow from doorstep lenders at interest rates of up to 600 per cent.

Newspaper sold

JOHNSTON Press has bought The Scotsman newspaper group in a £160m deal. The sale includes The Scotsman, Scotland on Sunday, the Scotsman website, the Edinburgh Evening News and the Edinburgh Herald & Post series.

BAE warning

AEROSPACE group BAE Systems yesterday warned that losses at its regional aircraft arm would be worse than expected following a downturn in business in the United States.