The chancellor has announced a £320mn plan to drive innovation and unlock the first tranche of investment from his Mansion House reforms.

The Los Angeles City Council on Tuesday approved a spending plan for Measure ULA, the so-called mansion tax, directing nearly $425 million into housing and homelessness programs.

This golden rule of business growth was sadly not on show at the splashy launch of UK chancellor Rachel Reeves’ ambitious, but flawed Mansion House accord (Report, May 14) forcing pension funds ...

L.A.'s tax on the sale of multimillion-dollar properties has collected about $480 million. It will be spent on affordable housing and tenant protection efforts.