Theresa May has ‘quite a lot of explaining to do’ on immigration before the leadership contest

Theresa May will today claim that high levels of immigration make it ‘impossible to build a cohesive society’. The Home Secretary will tell the Tory conference that it’s not just about building more schools and homes to deal with immigration, but about driving those numbers down too:

‘Now I know there are some people who say, yes there are costs of immigration, but the answer is to manage the consequences, not reduce the numbers. But not all of the consequences can be managed, and doing so for many of them comes at a high price.

‘We need to build 210,000 new homes every year to deal with rising demand. We need to find 900,000 new school places by 2024. And there are thousands of people who have been forced out of the labour market, still unable to find a job.’

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Matthew Lynn

Spain will regret its 100 per cent expat property tax

This is fascinating, given the repeated failure of the Tory net migration target.