Green industrial revolution?

The 1-minute read to get the money news you need with expert adviser commentary.

Turbines going turbo

Boris Johnson has promised to build enough offshore wind turbines to power every home in the UK by 2030. His plan to “harvest the gusts” will get £160 million of government funding and create 2,000 jobs in manufacturing sites including Teesside and Humber.

State pension age rises

From today, most people will start receiving the state pension on their 66th birthday. For men born after 1954, and women born after 1960, the state pension age will continue to rise gradually to 68. It’s being increased because we’re living longer - but the changes have been controversial, particularly for women who have seen the biggest rise.

Postcode hit parade

Oldham has seen the fastest house price growth in the country, according to Barclays’ postcode index. Its OL8 postcode tops the charts, with a 5.7% increase in prices in the past year. In London, commuter hub Purley won the day, where prices have risen by 2% in the last 6 months.

Public prefers tax rises

People would prefer to pay the coronavirus bill with higher taxes* rather than spending cuts, according to an Ipsos Mori poll. 44% backed tax hikes, while just 29% wanted the government to reign in spending. A new wealth tax was the most popular option, followed by higher council tax on £1 million homes, and a rise in capital gains tax.