British lenders have been summoned to meet the country’s treasury chief to try to reduce mortgage rates, British Prime Minister Gordon Brown said in an editorial published yesterday.
The meeting was called because cuts to the Bank of England’s base rate have not yet translated into cheaper loans for customers, Brown wrote in the News of The World, a mass-market tabloid.
The British leader promised new measures to make sure the lower rates were passed on to mortgage holders.
“Although the Bank of England has cut rates in recent months, the banks have not always been passing those reductions to their customers,” Brown wrote. “So [Chancellor of the Exchequer] Alistair Darling will be meeting with the main mortgage lenders to discuss what further steps can be taken.”
The news came a day after the chairman of Britain’s Council of Mortgage Lenders said lending could fall by half this year as bankers raised their prices to dampen demand. Banks have increasingly cut back on loans to customers amid worries of too much risky debt in the credit market.
Taiwan moved clear of Mexico to be the only country at No. 2 in the World Baseball Softball Confederation (WBSC) Men’s Baseball World Rankings. Meanwhile, draft bills to set up a ministry of sports were approved at a joint session at the legislature in Taipei yesterday. After previously being tied with Mexico for second on 4,118 points, Taiwan moved clear on 5,498 points after they defeated Japan in the final of the WBSC Premier12 tournament on Sunday. Mexico (4,729) dropped to fourth, behind Venezuela (4,846), who finished fourth at the tournament. Taiwan narrowed the gap to first-placed Japan to 1,368 points from 1,638, WBSC
GLOBAL SUPPORT: The Ministry of Foreign Affairs said that the motion highlighted the improper exclusion of Taiwan from international discussion and cooperative mechanisms Taiwan yesterday thanked the British parliament for passing a motion stating that UN Resolution 2758 does not involve Taiwan, making it the latest body to reject China’s interpretation of the resolution. The House of Commons on Thursday debated the international status of Taiwan and unanimously passed a pro-Taiwan motion stating that the House “notes that UN Resolution 2758 does not address the political status of Taiwan or establish PRC [People’s Republic of China] sovereignty over Taiwan and is silent both on the status of Taiwan in the UN and on Taiwanese participation in UN agencies.” British Foreign, Commonwealth and Development Office Parliamentary
HIGH ALERT: The armed forces are watching for a potential military drill by China in response to the president’s trip, with the air force yesterday conducting an exercise President William Lai (賴清德) is to make stopovers in Hawaii and the US territory of Guam during his seven-day trip to the South Pacific, his first official visit since taking office in May, the Presidential Office said yesterday. Lai, accompanied by a delegation, is scheduled to depart for the South Pacific on a chartered flight at 4:30pm tomorrow, stopping first in Hawaii for a two-night layover before traveling to the Marshall Islands, an office official said. After wrapping up his visits to the Marshall Islands and Tuvalu, the president is to transit through Guam, spending a night there before flying to Palau,
‘IMPORTANCE OF PEACE’: President Lai was welcomed by AIT Managing Director Ingrid Larson, Hawaii Governor Josh Green, Honolulu Mayor Rick Blangiardi and others President William Lai (賴清德) was feted with red carpets, garlands of flowers and “alohas” as he began his two-day stopover in Hawaii on Saturday, part of a Pacific tour. Looking relaxed in a Hawaiian shirt, Lai flitted around the US island state, visiting the Bernice Pauahi Bishop Museum, Hawaii’s leading museum of natural history and native Hawaiian culture, the Hawaii Emergency Management Agency and the USS Arizona Memorial in Pearl Harbor. Lai was given the “red carpet treatment” on the tarmac of Honolulu’s international airport, his office said, adding that it was the first time a Taiwanese president had been given such
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