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Brexit could place ‘huge burden’ on Parliament
Parliament might have to scrutinise up to 15 new bills to deliver Brexit, leaving little time for other legislation, the Institute for Government has warned. The IFG says legislation will be needed to establish new policies on areas such as customs and immigration. The extra measures will place “a huge burden” on Parliament and government departments, the think tank says.
Inflation higher for wealthy and people with children, study says
UK inflation is being driven by rising oil prices and is therefore felt more by the wealthy and people with children because they spend more on transport, according to the Resolution Foundation report published ahead of official inflation figures on Tuesday. UK inflation is being driven by rising oil prices and is therefore felt more by the wealthy and people with children because they spend more on transport, according to the Resolution Foundation report published ahead of official inflation figures on Tuesday.
New roads cause traffic not economic growth, says CPRE
Building new roads causes more traffic and congestion but does not boost local economies, according to a study of 80 UK road schemes by the Campaign to Protect Rural England. Although congestion falls, this is shortlived, according to research by Transport for Quality of Life, which was commissioned by the CPRE. Instead, new roads encourage people to make more journeys or switch from buses and trains. In the long term, this can lead to cuts to public transport. The Department for Transport disputes the findings and Highways England, which is responsible for Britain’s 4,300 miles of motorways and major trunk roads, is in the midst of a £15bn investment programme.
Motorists face a £2bn rise in car insurance
Drivers will pay an extra £2 billion a year in car insurance premiums after new personal injury rules come into force today, according to insurers. They said that the cost of the average policy would increase by £60 a year but the youngest and oldest drivers, who already pay the most, would be hardest hit. The average price for drivers aged 17 to 20 will rise by £115 to £1,650, comparethemarket.com said. The government announced last month that it was changing the formula used to calculate personal injury compensation. Liz Truss, the lord chancellor, said that reform was necessary to reflect lower investment returns that victims of serious accidents could hope to earn on lump-sum payouts.
Miner attracted by growth in market for electric cars
Two British companies are expected to announce a project today to research and develop components for electric cars to be made in the UK using neodymium, a rare earth. The growth in the electric car market, which could result in 100 million or more on the roads by 2035, will require a large number of magnets to go into their engines. Mkango Resources, an AIM-quoted company, has two mining licences in Malawi, one of which it hopes will produce neodymium, a soft, silvery metal that tarnishes rapidly on exposure to air. The company is teaming up with Metalysis, a Cambridge University spin-off based in Rotherham, South Yorkshire, to use its patented technology to produce the alloy for the magnets, using neodymium, iron and boron.
Factories see order books grow on the back of weak pound
The resilience of British industry after the Brexit vote has been underlined by a study revealing that the majority of small manufacturers grew orders over the final six months of last year. The national manufacturing barometer found that 57 per cent of small and medium-sized companies increased sales while two thirds expect revenues to rise over the first half of this year. There was a 9 per cent increase in the number of companies expanding their turnover compared with the survey results six months ago. Manufacturers are being boosted by the weakness in sterling, which makes their goods more competitive overseas, and solid domestic demand.
May to bosses: give workers more rights
Firms that use self-employed workers to avoid paying sickness, pension and maternity benefits are facing a government crackdown. A review commissioned by Theresa May is expected to conclude later this year that a growing number of companies are abusing the law by taking on supposedly self-employed workers for jobs previously carried out by salaried staff. The stricter measures will be a second attempt to reform employment rules after the government announced a U-turn on changes to national insurance contributions this month.
Using your phone while driving? It’s more than just the fine you have to worry about now
New phone driving laws were introduced in the UK on March seeing an increase in the amount a motorist would be fined and the penalty points they receive. Drivers who have only had their licence for two years or less will also be disqualified from driving and will have to retake their theory and practical tests. If your claim goes to court you could also face a maximum fine of £1,000. The laws new rules have been put in place in an attempt to reduce the number of accidents caused by motorists using mobile phones. Motorists who are caught will also face a huge increase in their car insurance. Insurance site Admiral reveals that insurance premiums could increase by up to 70 per cent for offenders.
Car tax to rise for most drivers who buy new vehicles, RAC claims
The vast majority of drivers buying new cars will pay significantly more in car tax from April 1, a motoring organisation has claimed. Up to two-thirds of new vehicles that fall into three of the most popular tax bands will leave their owners worse off as a result of sweeping changes being made to Vehicle Excise Duty (VED), according to the RAC. The breakdown rescue firm warned the new rules will discourage people from buying some of the least polluting models.