A new currency could provide a much-needed injection of cash to the local economy of Kingston. Here's how it will work.
Land Registry to axe 800 positions
The struggling housing market has forced the Land Registry to make cuts, it has emerged
The Land Registry has announced plans to axe a further 800 jobs as the struggling housing market forces the organisation to cut costs.
The organisgation already aims to cut around 1,500 jobs to 5,000 by the end of 2011 but said staff would fall further to 4,200 in the three years to 2014 through voluntary redundancies.
The Land Registry however saved 500 staff from compulsory redundancy after rowing back on its previously announced programme of office closures. It originally intended to close five offices but bases in Peterborough and Croydon, south London, will now remain open.
The number of clerical staff performing operational roles will be cut by 150 posts by June next year, fewer than the 400 posts originally proposed.
The Land Registry however stuck by plans to close offices in Stevenage and Tunbridge Wells by June 2011. Its Portsmouth office will relocate to the city council's offices before shutting in 2013.
It also confirmed plans to outsource operations including IT support and facilities management, as well as selling off or renting out unused buildings.
The Land Registry - established in 1862 - charges fees to register property ownership but was hit by the sharp fall-off in transactions caused by the credit crunch and recession.
Chief land registrar and chief executive Marco Pierleoni said it had "listened carefully" to the views expressed in the consultation.
He said: "The aim of the plans is to bring certainty and financial stability as quickly as possible and to secure the future of the Land Registry in these very difficult times."