General update
DEMSA will submit its MaPS call for evidence submission on deficit budgets on Monday after being granted a short extension. This will reflect the latest update from Citizens Advice.
Citizens Advice is running a cost-of-living briefing on 15 December 2022.
Link: https://www.eventbrite.co.uk/e/citizens-advice-december-cost-of-living-briefing-tickets-463556077707?aff=erelexpmlt
Bank of England Money & Credit
With regard to the comments above on house prices, the Bank of England reported that net borrowing of mortgage debt by individuals decreased from £5.9 billion to £4.0 billion in October 2022, the lowest level since November 2021 (£3.8 billion). Gross lending increased to £28.2 billion in October from £27.2 billion in September, while gross repayments went up from £21.5 billion to £24.8 billion.
Approvals for house purchases, an indicator of future borrowing, decreased to 59,000 in October, from 66,000 in September, and were below the previous ...
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