Japan to consider buying back some super-long government bonds, sources say
TOKYO, June 9 (Reuters) - Japan's government is considering buying back some super-long bonds it issued at low interest rates, two sources with direct knowledge of the plan said on Monday.
The move would come on top of an expected government plan to trim issuance of super-long bonds in the wake of sharp rises in yields.
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BreakingNews.ie
22 minutes ago
- BreakingNews.ie
Nationwide rent controls planned as Government looks at higher landlord fines
The Government has announced a package of rent controls as the Minister for Housing acknowledged that rents in Ireland are 'way too high'. The existing rent controls for areas of high demand will be extended across the country. Advertisement Rent pressure zones (RPZs) were introduced in 2016 to help control spiralling costs for tenants. The RPZ system, due to expire at the end of the year, has in effect been extended nationwide and sees all existing tenancies in Ireland come under a 2 per cent cap or inflation, whichever is lower. Rent increases in new-builds will be capped by inflation and not the 2 per cent cap in order to incentivise the development of apartments. Minister for Housing James Browne said financial investors 'won't even look at Dublin' because of the 2 per cent RPZ cap. Asked whether these proposals would reduce average rent costs in Ireland, Mr Browne said he expected rents 'to fall over time' but would not comment over what time period this would happen. Advertisement 'This is not being presented as a silver bullet. This is to strike a balance, to bring clarity and to bring certainty,' Mr Browne said. On Tuesday, the Cabinet agreed to legislate for Mr Browne's swathe of new rent and tenancy reforms. New tenancies created from March 1st, 2026, onwards will be set at market value and offer a six-year minimum rolling tenancies. At the end of the six-year tenancy, the rent can be reset and 'put back to the market', meaning the first series of rent resets will take place in 2032. Advertisement Large landlords, defined as having four or more tenancies, will be banned from carrying out no-fault evictions for tenancies beginning from March 1st, 2026. Housing Minister James Browne speaking to the media at Government Buildings in Dublin. Photo: PA Images A small landlord can end tenancies via a 'no fault eviction' in limited circumstances, such as economic hardship or to move a family member in, but if they do that, they cannot reset the rent. 'If there is a dispute between a landlord and a tenant on what the market value is, they can go to the Residential Tenancy Board (RTB) for adjudication,' Mr Browne said. 'A tenancy of minimum duration of six years is a real leap forward for tenant protections in return for allowing landlords to reset rent.' Advertisement The Department of Housing said all landlords can end a tenancy where there is a breach of tenant obligations or where the dwelling is no longer suited to the tenants. The department also said that all landlords will have the right to reset rent where the rent is below market at the end of each six-year tenancy, unless a 'no-fault eviction' occurs. 'Resetting of rents will not be allowed following a no-fault eviction. Rent resetting will only be allowed where a tenant leaves a tenancy of their own volition or has breached their tenant obligations,' Mr Browne said. 'Resetting of rents will not be allowed during any tenancy created on or before 28 February 2026 due to the uncertainties it would cause for tenants with existing tenancies.' Advertisement Asked about who would police whether the ban on resetting rents except in the case of no-fault evictions is being adhered to, Mr Browne said it would be the Residential Tenancies Board (RTB). 'I would hope that people will report landlords who are breaking the law in this respect,' he said. He said he was engaging with the Attorney General on what level of fines can be imposed on landlords for breaking eviction rules. Ireland Rent pressure zones: What are they and why are the... Read More He said they should be 'higher' and 'substantial' but there are limits in increasing fines before it crosses into the jurisdiction of the courts. He said he would also 'like to see' a rents register that would bring transparency to what a property had charged in rent previously. 'Our rents are way too high in this country, we know that. We know the only way to address that is increasing supply, so we have more competition, and then you will start to see rents go down.'
Daily Record
37 minutes ago
- Daily Record
SNP opposition to new nuclear power stations in Scotland 'makes no sense', claims Ed Miliband
Scotland has just one remaining nuclear power plant still generating electricity, with a further two currently being decommissioned. The SNP's refusal to allow new nuclear power stations to be built in Scotland "makes no sense", the UK Energy Secretary has said. Ed Miliband said today Scots will miss out on a "golden age of nuclear" after Labour ministers signed-off a £14.2 billion investment in the Sizewell C nuclear plant in south-east England. Scotland has just one remaining nuclear power plant still generating electricity, with a further two currently being decommissioned. SNP ministers have repeatedly refused to consider allowing the construction of replacement nuclear plants since winning power at Holyrood in 2007. Scottish Labour MP Gregor Poynton today claimed the policy had cost workers and taxpayers north of the border 'billions of pounds of investment and thousands of high-skilled jobs'. But SNP MP Kirsty Blackman described the UK Government's new £14.2 billion investment into Sizewell C in Suffolk as a 'splurge'. Miliband said the Sizewell development will 'power the equivalent of around six million homes with clean homegrown energy for 60 years, and it will be a jobs and growth engine for Britain, supporting 10,000 jobs in the peak construction and creating 1,500 apprenticeships'. It is one of several nuclear projects which the UK Government has backed, which also include a prototype fusion plant at West Burton, Nottinghamshire, and a partnership between Rolls-Royce and Great British Energy – Nuclear to rollout small modular reactors. Poynton, MP for Livingston, told the Commons: 'Scotland was once a pioneer in nuclear energy and should be again, but due to the SNP Scottish Government's outdated, backward, quite frankly bizarre opposition to nuclear energy, turning away billions of pounds of investment and thousands of high-skilled jobs. 'So, does the Secretary of State agree with me this is yet another way the SNP Scottish Government has lost their way?' Miliband replied that Mr Poynton was 'so right', and added: 'People in Scotland will be looking at these announcements and saying, 'well why isn't it us that are benefitting from this? Why are we not even in the race?'' Lillian Jones, the Labour MP for Kilmarnock and Loudoun, criticised the position as an 'ideological block on nuclear power, blocking billions in investment, blocking thousands of well-paid, secure Scottish jobs, and blocking growth'. In his response, Miliband said: 'We can announce a golden age of nuclear with our investments but not in Scotland, because of the position of the SNP Government. It makes no sense.' Blackman had earlier said: 'This £14 billion splurge on English nuclear power plants comes on top of £22 billion for English carbon capture and storage, while there's nothing for Scotland's Acorn project. 'With Grangemouth allowed to close, with a fiscal regime that is ruining north-east energy jobs, this latest announcement shows that Scotland isn't just an afterthought, it isn't a thought at all. 'If nearly £40 billion can be found for English energy projects, why is it that money is never found for Scotland's carbon capture project?' Miliband replied: 'Well look, I think maybe there is an SNP change in position coming. If she wants to have a conversation about Scottish nuclear power stations, then absolutely. 'We're in favour of the Acorn project and we'll be saying more about this in the coming weeks. 'But let me just say to her – on nuclear power, they've really got to think again. 'They are absolutely sticking their heads in the sand when it comes to this. This is about jobs, it's about investment, it's about clean energy, they should really rethink.' In an earlier statement, Miliband said: 'The Government is taking decisive steps today to usher in a new golden age of nuclear for Britain.' He added: 'For too long, our country has not made the crucial energy – or indeed other infrastructure investments – we need. A short-sighted failure to invest for which the British people have paid the price in lower living standards, insecurity and declining public services. 'This week's announcements symbolise a decisive change in approach, to invest in the future – the right choice for energy security, the right choice for jobs, the right choice for climate and our children and grandchildren, the right choice for Britain, investment, not decline. 'This Government has made its choice.'
South Wales Guardian
38 minutes ago
- South Wales Guardian
SNP opposition to new nuclear power stations ‘makes no sense', says Miliband
The Energy Secretary said Holyrood's position 'makes no sense', as Labour MP Gregor Poynton claimed the policy had cost workers and taxpayers north of the border 'billions of pounds of investment and thousands of high-skilled jobs'. SNP MP Kirsty Blackman described the UK Government's new £14.2 billion investment into Sizewell C in Suffolk as a 'splurge', when she pressed Mr Miliband on whether the Government will back the Acorn carbon capture and storage project. Mr Miliband said the Sizewell development along East Anglia's North Sea coastline will 'power the equivalent of around six million homes with clean homegrown energy for 60 years, and it will be a jobs and growth engine for Britain, supporting 10,000 jobs in the peak construction and creating 1,500 apprenticeships'. It is one of several nuclear projects which the Government has backed, which also include a prototype fusion plant at West Burton, Nottinghamshire, and a partnership between Rolls-Royce and Great British Energy – Nuclear to rollout small modular reactors. Mr Poynton, the MP for Livingston, told the Commons: 'Scotland was once a pioneer in nuclear energy and should be again, but due to the SNP Scottish Government's outdated, backward, quite frankly bizarre opposition to nuclear energy, turning away billions of pounds of investment and thousands of high-skilled jobs. 'So, does the Secretary of State agree with me this is yet another way the SNP Scottish Government has lost their way?' Mr Miliband replied that Mr Poynton was 'so right', and added: 'People in Scotland will be looking at these announcements and saying, 'well why isn't it us that are benefitting from this? Why are we not even in the race?'' The Scottish Government, led by SNP First Minister John Swinney, has a policy of opposing the building of new nuclear power stations. Lillian Jones, the Labour MP for Kilmarnock and Loudoun, criticised the position as an 'ideological block on nuclear power, blocking billions in investment, blocking thousands of well-paid, secure Scottish jobs, and blocking growth'. In his response, Mr Miliband said: 'We can announce a golden age of nuclear with our investments but not in Scotland, because of the position of the SNP Government. 'It makes no sense.' Aberdeen North MP Ms Blackman had earlier said: 'This £14 billion splurge on English nuclear power plants comes on top of £22 billion for English carbon capture and storage, while there's nothing for Scotland's Acorn project. 'With Grangemouth (oil refinery) allowed to close, with a fiscal regime that is ruining north-east energy jobs, this latest announcement shows that Scotland isn't just an afterthought, it isn't a thought at all. 'If nearly £40 billion can be found for English energy projects, why is it that money is never found for Scotland's carbon capture project?' Mr Miliband replied: 'Well look, I think maybe there is an SNP change in position coming. If she wants to have a conversation about Scottish nuclear power stations, then absolutely. 'We're in favour of the Acorn project and we'll be saying more about this in the coming weeks. 'But let me just say to her – on nuclear power, they've really got to think again. We are backing nuclear with the biggest building programme in a generation. 🔧£14.2bn for Sizewell C👷10,000 jobs & 1,500 apprenticeships⚛️ Small Modular Reactor programme Clean, homegrown power will boost the UK's energy security, protect billpayers & drive economic growth. — Department for Energy Security and Net Zero (@energygovuk) June 10, 2025 'They are absolutely sticking their heads in the sand when it comes to this. This is about jobs, it's about investment, it's about clean energy, they should really rethink.' In an earlier statement, Mr Miliband said: 'The Government is taking decisive steps today to usher in a new golden age of nuclear for Britain.' He added: 'For too long, our country has not made the crucial energy – or indeed other infrastructure investments – we need. A short-sighted failure to invest for which the British people have paid the price in lower living standards, insecurity and declining public services. 'This week's announcements symbolise a decisive change in approach, to invest in the future – the right choice for energy security, the right choice for jobs, the right choice for climate and our children and grandchildren, the right choice for Britain, investment, not decline. 'This Government has made its choice.'
