£1bn deal with India

New trade deal

A new £1 billion deal between the UK and India will create 6,000 jobs in the health and tech sectors, according to Boris Johnson. The deal was announced today and includes millions in investment, including £240 million from India’s Serum institute which is currently pumping out coronavirus vaccines. This isn’t a full free trade deal though - talks for that will start in the autumn.

Breathing space

People getting advice for problem debt can now apply for a 60-day break from new charges, letters from lenders, and other enforcement. The “breathing space” scheme is designed to stop people falling into a vicious cycle of borrowing. It starts today after years of campaigning by debt charities, and could help an estimated 700,000 people in the first year alone.

The adviser view: "This break is designed to let people make a plan for paying off their debt. If you are struggling with debt, there are a number of debt charities around who can be a great help"

Holiday rules

The EU has confirmed that vaccinated travellers will be allowed to travel to Europe from June. The UK could put an end to holiday hopes though, with a strict traffic light system which will be announced this week. Fewer than 10 countries could get the green light for quarantine-free travel - and some of those might not be classic holiday destinations.

The adviser view: "If anyone is thinking of a holiday (either at home or abroad), you should consider taking out travel insurance. Make sure you understand what you are and aren’t covered for, especially any Covid-19 related clause."

Prime property boom

London estate agents say the supercars are back in Knightsbridge. Home sales in the capital’s priciest addresses are up 80% since the end of lockdown*, the highest in the UK, according to Zoopla. The property site says coastal and rural areas have also seen big jumps in transaction volumes.

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