Freeport plans underway

Get straight to the good stuff every day with the Multiply Minute; a lightning-quick round-up of the money news and how it affects you.

Coming to a town near you?

The government has launched a consultation on creating up to 10 tax-free zones for importing and exporting goods by 2021. The government claims the freeports would fuel growth but critics say the zones could encourage money laundering and other crimes. After a 10-week consultation, areas across the UK will be able to bid to become a freeport.

The greatest threat to capitalism

It’s not Brexit, but productivity, according to leading economist Sir Charlie Bean. The slowdown in productivity has hit headlines recently, and Sir Charlie argues that it’s the UK’s biggest problem. He warns that without increased productivity, we’ll struggle to raise living standards or cope with issues such as ageing population and climate change, and says “that does just challenge the legitimacy of capitalism.”

Travel insurance for all

If you have a pre-existing health condition, you’ll know the challenge of finding affordable insurance when you go on holiday. But that’s all set to change in summer: if mainstream providers are unable to offer cover, they must refer would-be customers to a company that is able to help. The rule change (paywall) comes from the Financial Conduct Authority (FCA) which estimates that people could save 40% on their premiums.

Footie and chill?

The Premier League is planning to launch a Netflix-style streaming service so that people all over the world can tune in and watch the game. Such a service is unlikely to be available in this country to start with, but offering it to overseas fans could prove a lucrative source of income for UK football.

Record-breaking roadtrip

Last November, an electric Nissan Leaf broke records (paywall) by travelling 230 miles from Bedfordshire to Sunderland on open public roads. How? Well, it drove itself the entire way. Nissan has just released the news and it’s the longest autonomous trip so far that we know of - although other missions may be underway in secret.