Category: Uncategorized

Government regulations ‘causing spike in mental health problems in Edinburgh’s tourism sector’ 

New survey: government regulations causing spike in mental health problems in Edinburgh’s tourism sector

The Scottish self-catering industry highlights that Edinburgh-based operators report the highest levels of mental health issues in the country due the lingering threat of business closures.

A membership survey conducted by the Association of Scotland’s Self-Caterers (ASSC) shows that the Scottish Government’s short-term let regulations are causing a mental health crisis amongst small business owners.

In October 2024, around 450 operators were questioned by the trade body in an online survey as it continues to gather evidence around the impact of STL regulations.

Overall, around one-in-ten (11%) respondents said they had experienced no mental health issues as a consequence of regulatory changes. Incredibly, this figure drops to 0% in Edinburgh where the most stringent STL controls can be found.

The overwhelming sentiment is that the regulations have created financial strain, as well as increased anxiety and uncertainty, with sectoral discontent abundantly clear.

In terms of the key findings:

  • Across Scotland, over two-thirds (68%) had either experienced a ‘negative’ or ‘extremely negative’ impact on their mental health and wellbeing from recent regulatory changes;
  • This was particularly acute in Edinburgh where around 90% of operators had seen a negative or extremely negative impact; and
  • Edinburgh also had the highest number of extremely negative responses (46%).

The professional and personal strain is taking its toll. Several respondents highlighted the emotional toll, such as sleeplessness, anxiety, stress-related health issues, and feelings of helplessness, especially with the uncertainty of future income and business viability.

Many respondents also mentioned the high cost of compliance, administrative burdens, and delays in licensing applications, particularly for those relying on self-catering as their primary income.

These disturbing findings come as BiGGAR Economics published their independent analysis of the sector in Edinburgh. This showed it generated £154m in GVA and supported 5,580 jobs in 2023, while only having a negligible impact on housing with empty homes far outstripping the numbers of STLs.

Conscious to the issues facing small and micro businesses, the industry has attempted to work with national and local government to address the outstanding challenges to the regulatory framework but often to no avail. Edinburgh Council has now suffered a hat trick of legal setbacks, most recently with their u-turn over issuing three-month suspension notices.

Fiona Campbell, CEO of the Association of Scotland’s Self-Caterers, commented: “Running a small business can be a rewarding experience but the last few years have been gruelling with the pandemic and cost of living crisis bearing down on everyone.

“Our survey highlights widespread concern amongst Edinburgh’s self-catering sector, with a clear negative impact on mental health due to recent regulatory changes.

“What is causing particular anguish is the ominous threat that livelihoods will be snatched away due to heavy-handed government regulation, especially with the conflation of licensing and planning requirements.

“To compound matters, just as professional businesses have been shut down or are at threat of closure, we’ve seen a burgeoning black market of unlicensed accommodation, thereby undermining the entire purpose of the regulations.

“Well-managed short-term lets can easily coexist within communities while contributing meaningfully to local employment and the economy.

“As BiGGAR Economics have shown, STLs support over 5,500 jobs in Edinburgh alone yet are vastly outnumbered by the number of empty properties in the city. That is where the policy focus should be directed rather than scapegoating an industry for housing challenges.

“It has to be remembered that the very same individuals under the cosh have dedicated their working lives to ensuring the capital remains a welcoming and leading destination. Quite frankly, they deserve much better.”

Mental Health Infographic – EdinburghDownload

Only purchase safe and legal e-bikes, urges new safety campaign

A new safety campaign to raise awareness about the dangers of buying faulty and unsafe e-bikes, e-scooters and components such as batteries has been launched

  • New campaign urges public to buy safe e-bikes and e-scooters and avoid rogue online sellers
  • E-bike and e-scooter causing fires every two days according to London Fire Brigade
  • New Product Regulation Bill beginning work to tackle dangerous goods sold online

A new safety campaign to raise awareness about the dangers of buying faulty and unsafe e-bikes, e-scooters and components such as batteries has been launched today (Thursday 24 October).

The Department for Business & Trade’s new “Buy Safe, Be Safe” campaign has been designed to urge the public to buy safe e-bikes and e-scooters and avoid rogue online sellers.

E-bikes can be a cheap, healthy and modern method of travel throughout our towns and cities. However, unsafe e-bikes have resulted in hundreds of deadly fires and injured dozens of people across the UK. In 2023, the London Fire Brigade a fire every two days as a result of e-bike and e-scooter-related fires.

Many of these fires are caused by parts incompatible with e-bikes and scooters, as well as the purchase of defective or poorly manufactured parts sold by rogue online sellers.

The campaign focuses on three key areas encouraging consumers to only buy safe products from reputable sellers, only replace items with products recommended by the manufacturer and finally to seek professional help when converting or repairing e-bikes and e-scooters.

The Department is partnering with retailers, manufacturers as well as online marketplaces, trade associations, consumer groups and businesses to promote the campaign. Find out more about the campaign here.

Product Safety Minister Justin Madders said: E-bikes can be a great way to travel around the city, but we’ve all seen the tragic stories of unsafe e-bikes and e-scooters causing dangerous fires and taking lives.

“That’s why we’re urging everyone to check what you’re buying, check where you’re buying it from and ensure it’s safe to use.”

Local Transport Minister Simon Lightwood said: “E-bikes have transformed our urban areas by giving people an accessible and healthy way to travel, but this is being ruined by a handful of untrustworthy online retailers.

“These rogue sellers not only risk bringing defective and dangerous batteries into people’s homes, but undermine confidence in active travel as a whole.

“That’s why I’m delighted that we are launching this campaign to make sure that people have peace of mind buying e-bikes and e-scooters from reliable sources.”

Under current laws, e-scooters are banned on public land from use except in Government rental trial areas, while e-bikes are legal to use across the country but must not exceed an output of 250 watts or travel faster than 15.5 mph.

The public can expect to see an ongoing social media campaign including how-to video guides, as well as information materials being made available for retailers to use in stores and online to support consumers.  

The campaign comes off the back of wider efforts to tackle dangerous goods being sold in online marketplaces. In September, the Government unveiled the new Product Regulation and Metrology Bill aimed at allowing the UK to take charge of its product regulations, boosting consumer safety and helping to further grow the economy.

The Bill will also address the sharp rise in safety concerns around e-bikes and lithium-ion batteries and how they are sold via online marketplaces. The Bill will enable Government to better protect consumers who have for too long been at the mercy of unscrupulous suppliers, holding sellers and the online marketplaces to account if they fail to meet their responsibilities.

And it will ensure products sold online or placed on the UK market are safe, while enabling market enforcement officials to clamp down on the sale of the product or the sellers where they are not.

London Fire Brigade’s Assistant Commissioner for Prevention and Protection, Craig Carter, said: “E-bikes and e-scooters are a green and sustainable way to travel around our city. However, e-bikes and e-scooters can pose a significant fire risk and particularly the batteries used to power them have become one of London’s fastest-growing fire risks. They have destroyed homes and families have sadly lost loved ones in these fires.

“From our investigations, we know many of the fires we’ve attended have involved second-hand vehicles or the bike has been modified using parts bought online.

“At this time, there is not the same level of regulation of products for e-bikes and e-scooters sold via online marketplaces or auction sites when compared to high street shops, so we cannot be confident that products meet the correct safety standard.

“We understand that people are trying to save money, but if you spot a deal that looks too be good to be true, it probably is.”

Halfords Head of Quality, Chris Hall, said: “E-bikes offer numerous benefits for a healthier, greener commute. When e-bikes are purchased from reputable retailers, they’re properly certified and safe to use.

“Our priority is to ensure that everyone can enjoy the benefits of e-bikes without compromising on safety. The fire safety issues we’ve seen are linked to poorly manufactured, uncertified products typically bought online, as well as the use of incompatible components.”

Lesley Rudd, chief executive of consumer safety charity, Electrical Safety First said: “E-bikes, e-scooters and their batteries are generally safe when purchased from reputable manufacturers and used correctly.

“However, poor-quality products – often sold via online marketplaces – improper charging, or misuse can cause ferocious fires and pose a serious risk to the buyer. Safety starts with where you shop. Sticking to reputable sellers will provide confidence that your e-bike is safe and manufactured to a high standard.

“It’s equally as important to ensure you use a charger that is designed to be compatible with your battery to avoid the risk of overcharging which may destabilise the battery and lead to a fire.

“We also urge consumers considering converting their push bike into e-bike to source a high-quality kit and that it is installed by a competent professional.”  

Inga Becker-Hansen, Product Safety Advisor at the BRC, said: “The popularity of e-bikes and e-scooters has greatly increased the number on our streets and in our homes. These products provide a convenient method of transport for many of us.

“However, consumers should ensure they purchase from reputable and responsible retailers, who will ensure that appropriate batteries are used and all necessary safety standards are met.

“We urge the public to follow government guidance and take appropriate storage and maintenance measures to ensure the safety and longevity of their purchases.”

Find full details about the ‘Buy Safe, Be Safe’ campaign here

For our information on buying safely, how to store your product safely and best practice for charging, you can also find more information from the London Fire Brigade’s #ChargeSafe campaign.

Man faces court following crime spree across Lothians and Borders

A 26-year-old man has been arrested and charged following an extensive investigation into a series of housebreakings and thefts across the Lothians and Borders.

The incidents took place in Tranent, Prestonpans, Galashiels, Selkirk, Livingston, Gorebridge and Stow, between Friday, 6 September and Thursday, 10 October, 2024.

The man has been charged in connection with a number of offences, including 13 housebreakings, four attempted housebreakings and five vehicle thefts.

He is expected to appear at Edinburgh Sheriff Court today – Tuesday, 22 October, 2024. Further enquiries remain ongoing.

Detective Inspector Debbie Duncan said: “Crimes of this nature have a serious impact on the victims, causing them to question the safety and security of their own homes, and I would like to commend the work of the officers investigating this crime series.

“I would also like to thank the various local communities for their assistance with our enquiries to date and reassure the public that any reports of criminality will be investigated thoroughly by Police Scotland.”

Scotland rugby coach Gregor Townsend launches Poppy Appeal 2024

Rugby legend kicks off the appeal with tour of Lady Haig’s Poppy Factory in Edinburgh

Scotland rugby coach Gregor Townsend officially launched the Scottish Poppy Appeal 2024 today and said it was a “real privilege” to be involved.

The former Gala RFC player visited Lady Haig’s Poppy Factory at the Poppyscotland site in Edinburgh for a tour of the historical premises and took the opportunity to chat with staff about the importance of the charity.

Rugby legend Gregor, whose playing career spanned two decades for both club and country and included spells at Brive, Montpellier and Border Reivers to name a few, was highly impressed with Lady Haig’s Poppy Factory and the intricate work that goes into making the iconic Scottish poppies, wreaths and other symbols of Remembrance.

The former Scotland and British Lions star was also impressed to learn that Lady’s Haig Poppy Factory only employs disabled ex-service personnel, breaking down barriers for veterans who otherwise may struggle to find employment.

The charity also attracts dozens of volunteers of all ages, including those from the cadets and corps, who are all there to contribute to making a difference to the lives of both current and former members of the Armed Forces.

Gregor said: “It’s a real privilege to be here. Seeing veterans working, contributing like they did before. They enjoy what they do, knowing it is for a greater cause.

“On behalf of Scottish Rugby, we have a strong link with Poppyscotland and Remembrance. We wear poppies on our jerseys and the players really appreciate that link with history, especially playing our games throughout the month of November.

“Every year Poppyscotland supports hundreds of veterans and their families, helping them live life fully after service.

“Show them you care, wear a poppy. Your donation can change lives for our Armed Forces community.”

Head of Fundraising and Learning at Poppyscotland, Gordon Michie, said: “Wearing your poppy shows serving personnel, veterans, and their families, that their service and sacrifice means something to you, that it is appreciated and recognised. Importantly, it also shows that such service will never be forgotten. 

“All funds raised will go to support our life-changing work, providing advice and welfare support to the Armed Forces community in Scotland.”

The Scottish Poppy Appeal is Scotland’s biggest fundraising appeal, with more than three million poppies already being distributed around the country.

The money raised from the Appeal has enabled Poppyscotland to help countless men, women and families with issues linked to their time in the Armed Forces or with struggles adjusting from military to civilian life.

People can find out more and support the Scottish Poppy Appeal at www.poppyscotland.org.uk.

Lifelong braille user pays tribute to “excellent” writing system

Sight loss charity RNIB Scotland is celebrating 200 years of braille, the revolutionary writing system for blind and partially sighted people.

Developed by Louis Braille in 1824, it uses raised dots to represent letters, numbers, punctuation, and abbreviations. Braille has not only stood the test of time but continues to evolve, offering individuals with sight loss a vital means of communication, independence, and empowerment.

Jim McCafferty, a long-standing advocate for accessible formats who is originally from Glasgow but has spent most of his life in Edinburgh, reflects on his lifelong relationship with braille: “Braille has had a massive and very positive impact on my life, and to be perfectly honest, I really do not know how I could do without it. It has allowed me to enjoy an independent and varied life, both personally and professionally.”

Jim, who was registered blind at age three and first learned braille at the Royal Blind School in Edinburgh, went on to build a career in braille production and proofreading, working for over 40 years. His dedication to promoting accessible formats also saw him serve on the board of UKAAF (UK Association for Accessible Formats), where he edited the magazine Format Matters for nearly 11 years.

Reflecting on his experiences, Jim credits braille with being an indispensable tool that enables people with sight loss to remain engaged in daily life. “I use braille to keep my records up to date—whether it’s bank details, utility information, or passport numbers. I still read a lot, but if I want to ensure that information is kept confidential, I write it in braille.”

As a champion of braille, Jim highlights the urgent need for more braille teachers to ensure this essential skill continues to benefit future generations. “There just aren’t enough braille teachers. If more people could spread the word and teach this marvellous means of communication, more vision-impaired people—and even their sighted peers—would be encouraged to learn it.”

Jim also speaks of the evolving role of braille in the modern digital world. “In recent years, devices containing a braille keyboard and display have been developed, which has helped to promote the reading and writing system. What I find gratifying is the introduction of reasonably priced note-takers, such as the Orbit and Braille Me, making braille more accessible to people around the world.”

The anniversary of braille’s invention also provides an opportunity for sight loss organisations to come together and promote its importance. Jim states, “It is my firm belief that all organisations of or for vision impaired people should work together more closely. If this is done with braille, an excellent method of communication will have a great future—hopefully for the next 200 years.”

For those just starting their journey with braille, Jim offers some heartfelt advice: “Give learning braille all you’ve got. You don’t need to know the system intricately, but learning the alphabet and numbers will allow you to communicate and keep track of important information. It will help you maintain your independence and improve your life skills.”

Strollers up for the Cup

The Civil Service Strollers who are based at Christie Gillies Park on Marine Drive are on their way to Ayrshire this Saturday as they take on Irvine Meadow in the 2nd round of the Scottish Gas Scottish Cup (writes CHARLES LAING).

The Strollers have been in fine form this month,  winning their last 4 games and moving up to 9th in the Scottish Lowland League after defeating Broxburn on Saturday.

They also beat Dalry Thisle also from Ayrshire to reach the 4th round of the South Scottish Challenge Cup – thanks in no small part to striker Mackie Scott, who bagged 5 goals in 3 games!

So it’s fingers crossed for a good result and one step closer to a final at Hampden Park versus Hibs or Hearts!

Change of venue but Push The Boat Out programme announced

THE SHOW MUST GO ON FOR POETRY FESTIVAL

It’s here! After a slight pause, and some stormy seas, we are overjoyed to announce the @PTBOpoetry programme.

In response to an unexpected venue change, this year’s festival will set sail across

@DanceBase

@DovecotStudios

@ScotStoryCentre and Pleasance

https://pushtheboatout.org/programme/

Government launches British Infrastructure Taskforce

  • The Chancellor to convene first meeting of the British Infrastructure Taskforce to boost infrastructure investment.
  • Experts from some of the UK biggest finance institutions including HSBC, Lloyds and M&G will, alongside wider industry engagement, advise government on a long-term infrastructure investment strategy to benefit every corner of the UK.
  • Follows launch of a new body that brings infrastructure strategy and delivery together to address the systemic delivery challenges that have stunted growth for decades.

Private finance experts will meet the Chancellor at No11 Downing Street today to boost investment in infrastructure and drive growth nationwide.

Rachel Reeves will convene the inaugural meeting of the British Infrastructure Taskforce as part of a new approach that involves government working with business to design policy that will unlock private investment, including by building business confidence in UK infrastructure investments.

The Taskforce will explore different options to support the Government’s infrastructure goals to drive growth for the whole of the nation, and some of the UK’s biggest financial companies including LLoyds, HSBC, and M&G will be in attendance.

This Government has committed to turbocharge infrastructure investment across the width and breadth of the UK. Invitees have been selected to ensure a wide range of experience and expertise in UK infrastructure. This marks a significant shift in approach, with key businesses and stakeholders invited to work with the government to support the delivery of its infrastructure agenda.

It follows the announcement to launch a newly formed National Infrastructure and Service Transformation Authority (NISTA) which will bring a much-needed oversight of strategy and delivery under one roof, revolutionising the UK’s approach to infrastructure projects.

The NISTA will support the development and implementation of the ten-year infrastructure strategy in conjunction with industry which was outlined for the first time last week by the Chief Secretary Darren Jones.

The Chancellor of the Exchequer Rachel Reeves MP said: “Increasing investment in infrastructure is a vital part of delivering on our number one mission to grow the economy and create jobs.

“Just days after our International Investment Summit, we are delivering on our promise to work with business to drive growth across the country, and the expertise of this Taskforce will be invaluable in the weeks and months ahead.”

Chief Secretary to the Treasury Darren Jones MP said: ““We are serious about ending the cycle of underinvestment that has plagued our infrastructure systems for over a decade. The best way to do that is to design the solution with business in the room. That’s what this taskforce is all about.”

The Taskforce will meet regularly, offering insights that deliver long-lasting solutions for job creation, growth, and environmental goals.

This builds on the success of the International Investment Summit, which saw hundreds of top international investors attend the event, £63bn of confirmed investment into Britain, along with the launch of the £27.8 billion turbocharged National Wealth Fund.

Tracy Blackwell, CEO, PIC said: “We have a huge amount to invest and we want to invest more in Britain. There is no shortage of capital that can support the British economy’s capacity to grow.

“The right combination of policies and ideas will unlock that capital and boost growth.  From planning reform and better use of public sector pension funds to a streamlining of institutions and regulations, there is a lot that Government can do to crowd in more private investment and deliver social value.

“It’s great to be in an ongoing conversation with the Chancellor about taking that agenda forward.”

Andrea Rossi, CEO, M&G plc said: “M&G has been an active investor in the UK for 175 years. Of the £100 billion M&G invests in the UK, infrastructure remains a core part of delivering sustainable returns for our savers, clients and shareholders.

“The UK’s clear focus on infrastructure presents a significant opportunity to deliver economic and social progress and we are delighted to contribute our expertise.”  

Deepa Bharadwaj, Head of Infrastructure Europe, IFM Investors said: ““IFM is a major global infrastructure investor, a major investor in the UK, and is owned by pension funds.

“We look forward to solutions-based discussions that can unlock new investment across UK infrastructure sectors and themes”.

Stephen Cohen, Chief Product Officer, Blackrock said: “There’s a rapidly growing pool of capital to invest in infrastructure, but deploying it requires pragmatism in policy.

“We’re pleased to be working with the government in identifying policies that will support private investment.”

Charlie Nunn, CEO, Lloyds Banking Group said: “At Lloyds Banking Group, we are committed to helping the UK deliver the infrastructure the country needs, supporting jobs and growth.

“We welcome the British Infrastructure Taskforce’s focus on increasing investment in UK infrastructure and addressing some of the fundamental barriers that have existed to date.

“As the UK’s leading bank for project finance, we will work closely with the government in the development of this taskforce, ensuring the work supports communities, businesses, and industries across the regions and nations of the UK.”

Anne Richards, Vice Chair, Fidelity International said: “We have a shared ambition to drive growth in the UK by unlocking investment in infrastructure for the benefit of savers. 

“Our best opportunity to achieve that is through collaboration with government and the industry.”

Andy Briggs, CEO, Phoenix Group said: “Over the last three decades there has been an underinvestment in the UK economy compared to other developed nations. I am delighted there is a growing consensus that in order to grow we need to work together to invest.

“The British Infrastructure Taskforce provides the opportunity for business and government to work on shared priorities, help finance the social and economic infrastructure the country needs for the future, and give potential for better returns for pension savers.”

The following attendees of the first Taskforce meeting discussed investment opportunities, financial mechanisms, and strategies to maximise economic value:

  • Tracy Blackwell, CEO, Pension Insurance Corporation;
  • Anne Richards, Vice Chair, Fidelity International;
  • Charlie Nunn, CEO, Lloyds Banking;
  • Vivian Nicoli, Managing Director, CDPQ;
  • Andy Briggs, CEO, Phoenix Group;
  • Ian Stuart, CEO, HSBC UK;
  • Andrea Rossi, CEO, M&G;
  • Stephen Cohen, Chief Product Officer, BlackRock (represented by Helen Lees-Jones Global Head of Sustainable & Transition Solutions)
  • Deepa Bharadwaj, Head of Infrastructure Europe, IFM Investors;  
  • Mike Regnier CEO, Santander UK;
  • Sir Douglas Flint, Chairman, ABRDN;
  • Nick Smallwood, CEO, Infrastructure and Projects Authority;
  • James Heath, CEO, National Infrastructure Commission;
  • John Flint, CEO, National Wealth Fund.

Shoppers to be protected by new Buy-Now, Pay-Later rules

  • Providers will have to ensure lending is affordable – stopping users from accumulating unmanageable debt  
  • Rules deliver better protection for shoppers and clarity for innovative sector after years of uncertainty

Millions of shoppers are set to be protected by new rules for Buy-Now, Pay-Later products.  

Buy-Now, Pay-Later products have become increasingly popular in recent years as they allow people to spread the cost of purchases over time, but users currently do not have access to a range of key protections provided by other consumer credit products.  

The Government has today launched a consultation on proposals to fix this by bringing Buy-Now, Pay-Later companies under the supervision of the Financial Conduct Authority (FCA) and applying the Consumer Credit Act, ensuring users receive clear information, avoid unaffordable borrowing, and have strong rights when issues arise.  

Economic Secretary to the Treasury Tulip Siddiq said: “Millions of people use Buy-Now, Pay-Later to manage their finances, but the previous government’s dither and delay left them unprotected.

“We promised to take action before the election and now we are delivering. Our approach will give shoppers access to the key protections provided by other forms of credit while providing the sector with the certainty it needs to innovate and grow.”

The new rules will allow the FCA to apply rules on affordability – meaning that Buy-Now, Pay-Later companies will have to check that shoppers are able to afford repayments before offering a loan, which will help to prevent people building up unmanageable debt.

Companies will also need to provide clear, simple and accessible information about loan agreements in advance so that shoppers can make fully informed decisions and understand the risks associated with late repayments.

Consumer Credit Act information disclosure rules will be disapplied so that the FCA can consult on bespoke rules that ensure users are given this information in a way that is tailored to the online setting in which Buy-Now, Pay-Later products are generally used.    

Buy-Now, Pay-Later users will be given stronger rights if issues arise with products they purchase, making it quicker and easier to get redress. This includes applying Section 75 of the Consumer Credit Act, which allows consumers to claim refunds from their lender, and access to the Financial Ombudsman Service to make complaints. 

Rocio Concha, Which? Director of Policy and Advocacy, said: “Which? has been a leading voice calling for the regulation of Buy Now Pay Later for years so it’s positive that new rules are coming in that should provide much-needed protections for users of these products.

“Our research found that many BNPL customers do not realise they are taking on debt or consider the prospect of missing payments, which can result in uncapped fees, so clearer information about the risks involved as well as the use of affordability checks and options for redress would be a win for consumers.

“We are keen to see legislation quickly passed to ensure that BNPL users are protected as strongly as consumers using other credit products.”

Sebastian Siemiatkowski, Co founder and CEO of Klarna, said: “Congratulations to Tulip Siddiq and the government on moving quickly!

“They have been working with the industry and consumer groups long before coming into office. We’re looking forward to carrying on that work to put proportionate rules in place that protect consumers while fostering growth.”

Michael Saadat, International Head of Public Policy at Clearpay said: “We welcome today’s update from City and FinTech Minister, Tulip Siddiq, on BNPL regulation.

“It is encouraging that HM Treasury has listened to industry feedback and evolved the previous framework to ensure a more proportionate approach to regulation.

“We have always called for fit-for-purpose regulation that prioritises customer protection, delivers much-needed innovation in consumer credit and that sets high industry standards across the board.

“We will continue to support the Government and the FCA to deliver fit-for-purpose regulation that ensures consumers are protected in a way that supports the UK’s thriving FinTech sector.”

Chris Woolard, Author of the 2021 Woolard Review, which looked at change and innovation in the unsecured credit market, said: “Today marks a significant milestone for consumer-focused financial regulation.

“The proposed package of regulation would implement the recommendations of the Review and mean millions of people up and down the UK will benefit from stronger financial protection as they borrow using BNPL, especially the most vulnerable in society. The incoming regulation will also provide long-term certainty and standards for the market.”

The consultation will be conducted quickly – closing on 29 November – to reflect the urgent need for action to protect consumers.  

Final legislation is expected to be laid in Parliament in early 2025. Once the legislation is laid, the FCA will finalise the rules so they can take effect in 2026 – bringing clarity to the sector after years of uncertainty about how it will be regulated.  

This follows the Prime Minister saying he would remove regulation that needlessly holds back investment and growth. Today’s announcement brings in much needed regulation that stops people spiralling into debt.

Justin Basini, Co-Founder and CEO of The ClearScore Group said: “We welcome this consultation to bring Buy-Now, Pay-Later borrowers under the same protections and creditworthiness assessments as other mainstream financial products such as credit cards and loans.  

“It is a sensible step in ensuring that this new, important form of credit continues to provide much-needed flexibility for consumers while also managing any risks.”

Renewed appeal after series of incidents on Union Canal tow path

Detectives are renewing an appeal for information after two assaults on the Union Canal tow path in Edinburgh.

Both incidents happened on Sunday, 13 October.

The first happened near to Harrison Park around 7pm when a 31-year-old man was assaulted while cycling on the tow path. He was taken to hospital for treatment and later discharged.

The second happened near to Watson’s Rowing Club where a 50-year-old man walking on the path was assaulted. He was uninjured and did not require hospital treatment.

Officers are also investigating an incident around 5.40pm on the path near to Meggetland Bridge where a man acted in a threatening manner towards a woman walking in the area.

All three incident are being treated as linked.

Officers are working to identify a man described as being between 20 and 30-years-old, around 6ft tall, lean build, pale complexion, gaunt face, clean shaven, short dark hair with dark eyebrows.

He was wearing a dark blue hoodie and white trainers.

Detective Inspector Gordon Couper said: “We believe all three of these incidents are linked and would urge anyone with information to get in touch.

“We believe there were other people using the path around the time of these incidents and would urge anyone who witnessed anything to let us know. We’d also be keen to speak to anyone who have photographs or video footage from the area around these times.

“We would urge people to be vigilant and report any suspicious activity to us. We have dedicated officers patrolling both the general area and the tow path specifically who you can speak to.

“Information can also be passed by calling 101, quoting incident number 2814 of Sunday, 13 October, 2024.

“Alternatively, you can call Crimestoppers on 0800 555 111 where information can be given anonymously.”