18/05/2014 BBC Weekend News


18/05/2014

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The Governor of the Bank of England gives his strongest warning yet

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about the risks to Britain's economy of the booming housing market. Mark

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Carney says not enough houses are being built - the Government says it

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may need to scale back its Help to Buy scheme to ease demand. There are

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fears that floods in the Balkans, which have killed at least 20

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people, are about to get worse. And the Gunners' glittering prize -

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Arsenal show off the FA Cup in the North London sunshine.

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Good afternoon. The Governor of the Bank of England, Mark Carney, has

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given his strongest warning yet about the risks posed to Britain's

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economy by the booming housing market. He said the market had what

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he called "deep structural problems", with not enough houses

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being built. The Deputy Prime Minister, Nick Clegg, says the

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Government may have to scale back its Help to Buy scheme, to help

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dampen down rising house prices. Here's our business correspondent,

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Emma Simpson. House prices - they are something of

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an obsession in the UK, and on the whole, they are going up. But are

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there dangers ahead? The Governor of the Bank of England thinks there

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could be, saying this is a market which has deep structural problems.

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There are not sufficient houses built in the UK. We are not going to

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build a single house at the Bank of England, we cannot influence that.

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build a single house at the Bank of What we will influence, and we will

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do this as appropriate, is, whether the banks are strong enough, do they

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have enough capital, are the standards for

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have enough capital, are the enough, so that people cannot get

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them if they cannot afford them? Few would disagree that there is a

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chronic shortage of houses. Just before the credit crunch,

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chronic shortage of houses. Just an thousand properties were built in

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England. Last year, the figure was 112,000. -- 100 77,000 houses.

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Experts reckon we need to be building 250,000 houses every year.

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That lack of supply is fuelling price rises, especially

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That lack of supply is fuelling and the south-east. The

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Government's Help to Buy scheme has also boosted the market, raising

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speculation about whether Mark Carney might advise ministers to

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rein it in. I think if he says that we need to pare back on some of the

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government schemes, like Help to Buy, then I think we should do so.

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And he is certainly right when he says, the bigger long-term problem

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is we simply do not build enough homes in this country. But with

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house prices varying hugely across the UK, the Bank of England has a

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difficult balancing act. House prices in London may be 40% above

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where they were in 2007, but house prices in Northern Ireland are still

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on balance 30% below where they were at that time. It is a very difficult

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juggling act for the Bank of England and for politicians. Will the

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Governor step in to cool things down? He is certainly watching this

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market very closely. There are fears that floods which

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have already claimed more than 20 lives and forced tens of thousands

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out of their homes in the Balkans are about to get worse. The Bosnia

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city of Doboj and the Serbian capital, Belgrade, have been

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worst-affected. Our world affairs correspondent Paul Adams reports. 20

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years ago, it was Army is chasing people from their homes. Now, it is

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nature. Bosnia is facing the worst flooding in more than a century.

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After three months' worth of rain in three days, the downpours have

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eased, rivers are due to reach new aches later today. The authorities

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are racing to rescue stranded people. There have been mud slides,

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and in a part of the world still dotted with minefields, all sorts of

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dangers lie under the surface. In neighbouring Serbia, the situation

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is just as bad. Close to Belgrade, one vast power plant is marooned. It

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supplies electricity to half the country, but capacity was cut when a

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nearby coal mine was flooded. With river rivals rising, pumps are being

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used to minimise the damage. The government is urging people to save

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energy. Volunteers have arrived from all over the country, answering a

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call to build up flood defences along the swollen Sava river.

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TRANSLATION: We can only hope, we have done everything we could, now,

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we can only pray to God. Overnight, in one town, rescue teams were

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scouring inundated neighbourhoods amid scenes of devastation.

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Thousands of people have already been evacuated. Many others, elderly

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and the infirm, have yet to be rescued. This emergency now affects

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a broad swathe of Serbia, Grozny and Croatia. Rescue teams have started

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to arrive from across Europe, including Britain. -- Serbia, Bosnia

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and Croatia. But the worst may now be over, with the weather forecast

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good. Live now to our correspondent Guy Delauney, who is in Belgrade.

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What is the latest? As you can see, the weather is superb. You can see

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these volunteers putting in sandbags along the banks of the Sava river,

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and they are expecting the floodwaters to come down from Bosnia

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around Sunday evening, this evening, and that could raise the level of

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the river to the point that it bursts its banks again. That will be

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a problem here in Belgrade, but also particularly where the power station

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is. If that floods, in Obrenovac, it could be a problem for the whole

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country. It is reported that police in Turkey

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have detained 18 people for questioning following the mining

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disaster in the town of Soma that has now claimed more than 300 lives.

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It is believed that executives from the company which owns the mine are

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among those being questioned. The disaster has led to widespread

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protests across Turkey over concerns about safety in the country's mining

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industry. Arsenal are holding an open-top bus

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parade to celebrate their FA Cup victory over Hull City. Yesterday's

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win saw the team lift their first trophy in nearly a decade. Thousands

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of fans have lined the route from the team's Emirates Stadium through

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the streets of North London. Our correspondent Daniel Boettcher is at

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Islington Town Hall in North London now. Yes, the players left the Town

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Hall here about ten minutes ago, but there has been a carnival atmosphere

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here all morning, young and old turning out to see their team, their

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cup, and to enjoy their day in the sunshine. Party time in north

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London. Blue skies, a blazing sun and a day to savour for fans who

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have waited nine years without a trophy. All that changed yesterday,

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and today, the team rewarded the many thousands lining the route from

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the Emirates Stadium, holding aloft the FA Cup. It could all have been

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so different at Wembley yesterday. Hull City went two ahead inside

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eight minutes. A free kick from Santi Cazorla began to reduce the

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deficit, and the winning goal came from Aaron Ramsey in extra time.

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Trophy at last. Fans had been put through the mill once again, but

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today, cheers and applause for the players, as the victory parade made

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its way to Islington Town Hall. For Arsenal fans, this is a day to

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forget the long wait, to enjoy the moment, to celebrate success. It is

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a win which Arsene Wenger has described as an important moment in

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the life of this team. Who would be a football fan? Emotionally drained,

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hungover, no sleep, brilliant. Cannot believe it, coming from to

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nail down, I am ecstatic. New York City, wonderful, sporting moment of

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a lifetime, truly. So, a day to remember for a team which hopes FA

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Cup success will leave it in a strong position for next season. The

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crowds are beginning to disperse now, and those two open top buses

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are making their way back to the Emirates Stadium, where there will

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now be a new edition to the trophy cabinet.

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The football celebrations have also been in full swing in Scotland. St

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Johnstone are marking their Scottish Cup win over Dundee United with a

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victory parade through the streets of Perth. St Johnstone's 2-0 win at

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Celtic Park helped them claim their first major trophy in 130 years.

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Live now to Perth and our correspondent Catriona Renton. What

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an atmosphere there is here this lunchtime. Almost every person who

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lives in Perth is out on the streets this lunchtime, waiting to see the

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victorious St Johnstone team with that Scottish cup. They are so

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proud, this is the first major trophy that this team has won in 130

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years. We are expecting the bus to come past within a few moments. The

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reason for all of this, yesterday's victory over Dundee United in the

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Tayside. , which St Johnstone won 2-0. I have been speaking to the

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crowds this morning. Some of the people I have spoken to this morning

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hardly had a voice left, after wild parties last night. We are expecting

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them to continue throughout the day. You can see more on all of today's

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stories on the BBC News Channel. The next news on BBC One is at 6.35 this

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evening. Bye for now. Hello. For many of us, the weather

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this weekend has been more like the middle of July. So, it is a warm

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start to the week ahead, but turning increasingly unsettled I think for

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all of

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