Economic news

Plans to protect UK from extreme weather are inadequate, Climate Change Committee says in scathing assessment

Labour is putting people, the economy and the environment in increasing peril by failing to act on the effects of the climate crisis, the UK’s climate watchdog has said.

Flooding, droughts and heatwaves are all increasing in severity due to climate breakdown, but current plans to protect people, land and infrastructure against extreme weather have been judged inadequate in a scathing assessment of the UK’s preparedness.

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US president will curb some duties on foreign parts in domestically manufactured cars, administration says

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Donald Trump unveiled plans to water down his sweeping tariffs for US carmakers on Tuesday by curbing some duties on foreign cars and parts, granting a reprieve to an industry that warned his strategy would hike costs for American manufacturers by tens of billions of dollars.

Carmakers subject to a 25% tariff on imports will not be subject to other levies Trump has imposed, for example, on steel and aluminum. US automakers will also be allowed to apply for tariff relief on a proportion of the costs imposed for imported parts, although that relief will be phased out over the next two years.

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UK grocery inflation has edged up this month, as consumers are hit by rising food prices.

Data provider Kantar has reported that supermarket prices rose by 3.8% per year in the four weeks to April 20, up from 3.5% a month earlier.

“Chocolate confectionery prices rose by 17.4% this period, the fastest of any category, but that didn’t stop the British public treating themselves this Easter. The volume of chocolate eggs sold through supermarket tills still grew by 0.4% on last year, while at the dinner table lamb was the most popular fresh meat joint, followed by beef and pork.

Some households chose to indulge in less seasonal fare as the sun came out and they dusted off the barbecue, with burger sales shooting up by 31% over the last month.”

The way in which regulations are being applied to bioethanol is undermining the commercial viability of our business. We are having constructive discussions with the UK Government to explore regulatory options to improve the position. There is no guarantee that these discussions will be successful, and we will either mothball or close the Vivergo plant if necessary.

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