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The new flat-rate, or single-tier, state pension is coming into effect for everyone who retires after 6 April, 2016.
The government argues it will be simpler – and that over the next 15 years, most people will end up getting a higher pension. While the current basic state pension is worth around £120 a week, the new one will start at £155.
Women, and the self-employed, are among the groups that, on average, should benefit. But there will be losers too – especially for those currently in their 20s and 30s. And in the long run the new system will save the government money.
The Financial Times
The pro-Brexit campaign has the most convincing arguments about Britain’s EU membership. The more people hear from both sides of the campaign, the more likely they are to vote to leave. That is the finding of a new survey by Greenberg Quinlan Rosner Research for the Fabian Society that should provide chilling reading for the Remain campaign. GQRR says that 48 per cent of likely voters are inclined to vote to Remain at present, compared with 44 per cent Leave. But after listening to arguments from both campaigns on topics such as immigration, 47 per cent decided to support Leave — two points ahead of the Remain vote. Immigration, control of our laws and security and terrorism are the top three issues on voters’ minds, but collectively all of these are trumped by concerns about their effect on the broader economy.
Worldwide deposits for the new lower-priced Tesla electric car hit 276,000 over the weekend, surprising even the company’s CEO, who says it may force Tesla to open another factory. CEO Elon Musk posted the number Sunday on his Twitter feed and said if the trend continues, Model 3 orders could hit 500,000 and would require another factory in Europe to meet demand.
The Daily Telegraph
Motorists have been warned that the “good times are over” after the cost of petrol rose for the first time in eight months.
Campaigners are now accusing retailers of “unscrupulously fleecing” motorists and adding “needless salt in their wounds” for instigating a sudden price hike for unleaded as well as diesel, despite wholesale costs remaining stable.
A report by the RAC found that a 3.4p per litre (ppl) rise led to average pump prices of 105p, while around £1.84 was added to the cost of filling up an average 55-litre car with unleaded. Diesel forecourt prices increased by 3.7ppl to 105p despite the wholesale price only rising by 1.5p, according to the motoring organisation’s analysis.