Revealed: hybrids guzzle fuel

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

High fuel costs

Plug-in hybrid cars burn a lot more fuel than they claim, according to new tests by Which?. On average, the 22 cars tested burned 61% more fuel in real life than they did in manufacturers’ tests. The worst performer? The BMW X5, which claims to do 188.3 miles per gallon, but managed only 52.8 miles for Which?. The consumer group said the difference could add up to £650 per year in fuel costs.

New homes selling well

Taylor Wimpey’s had a good start to the year, reporting strong demand for its new build homes. It’s the third largest homebuilder in the UK, after Barratt and Persimmon, both of which have also said their properties are selling well. Developers had a tough 2020, with sales halted during the first lockdown, but they’re now on the rebound.

Tourism hotspots lose jobs

Areas of the UK that rely heavily on tourism have been worst hit by the coronavirus jobs crisis according to analysis by the BBC. In some places, 3 out of 5 people who started claiming Universal Credit at the start of the pandemic were still doing so 6 months later.

It’s the budget tomorrow

Chancellor Rishi Sunak will lay out his economic plans for the country at around 12.30pm tomorrow. Budgets often come and go without much fuss, but this year everyone’s on tenterhooks. What do we know so far? Sunak has promised to support the economy and protect jobs. He’s expected to talk about furlough, support for the self-employed, the stamp duty holiday, and Universal Credit, as well as targeted funding for struggling sectors.