My CRS is reported by QGIS (project properties) as being ED50/UTM31N (EPSG 23031) and that seems to be correct as all layers are positioned correctly. However, the coordinate display box shows the latitude and longitude (in degrees) as being the same. When the coordinate display is set to "map units(meters)" it displays correctly.
Is this to do with the fact that on-the-fly transformations no longer appear to be available in 3.0.0?