As asset prices have surged, putting property ownership out of the reach of many, our leaders seem unwilling to tackle key vested interests, says Kyran Fitzgerald.

Inflation in the UK fell to 1.6% in July as fashion stores launched summer discounts and fierce competition between supermarkets helped keep a lid on food prices for the longest stretch in a decade.

Chancellor George Osborne shocked the City today as he unveiled Canadian Mark Carney as the first non-British citizen to be appointed as governor of the Bank of England.