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The UK risks missing out on the booming electric car market, leaving us reliant on imported vehicles. In 2018, half of Europe-made electric cars were built in the UK. By the end of the decade, that figure could be just 4%, according to the Transport & Environment group. It reckons UK manufacturers aren’t investing enough and will be left in the slow lane by 2030 when petrol and diesel cars are outlawed.
Thousands of first-time buyers are putting their plans on hold* as the “Bank of Mum and Dad” (BOMAD) tightens its belt. Half of first-time buyers fear that cash gifts from family will be hard to come by after the pandemic. Why? Parents are under financial pressure now too, with over-50s the most likely to have lost jobs in recent months.
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The inflation rate rose to 2.1% in May, fuelled by rising clothing and petrol prices. It’s now above the Bank of England’s 2% target for the first time since summer 2019. Inflation was expected to go up as the economy reopens and people start to spend more - but not by this much.
Asda is expanding its refill scheme to more stores, after a successful trial in Leeds. The supermarket said many of the refillable products outsold packaged options, with shoppers keen to cut down on their plastic use. Many others including Morrison’s, Waitrose and M&S are trialling similar ideas, allowing people to bring their own containers from home to fill in-store.
*this article may need a subscription to read
","url":"https://multiply.ghost.io/uk-electric-cars-overtaken/","uuid":"1bb141cf-0b7b-4a16-9d7c-94aa902779bf","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"60c9baae6e4273003be1db99"}},{"node":{"id":"Ghost__Post__60c857ea6e4273003be1db8a","title":"Clubbing cancelled","slug":"clubbing-cancelled","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/06/464.png","excerpt":"Plus: 197,000 new employees added to payroll, UK and Australia agree a trade deal.","custom_excerpt":"Plus: 197,000 new employees added to payroll, UK and Australia agree a trade deal.","created_at_pretty":"15 June, 2021","published_at_pretty":"15 June, 2021","updated_at_pretty":"15 June, 2021","created_at":"2021-06-15T07:34:02.000+00:00","published_at":"2021-06-15T07:39:55.000+00:00","updated_at":"2021-06-15T07:39:55.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Nightclubs despair\nThe hospitality industry has warned\n[https://www.bbc.co.uk/news/business-57476419] the 4-week delay to lifting\nrestrictions is very bad news for businesses’ finances, with many having to\ncancel a month of sold-out events. Clubs were due to reopen on 21st June, but\nwill now have to wait until 19th July. Wedding venues and planners are having a\nslightly better day though, after Boris Johnson confirmed that celebrations\nwould still be allowed to go ahead with unlimited guest numbers.\n\nMay payday\n197,000 new employees were added to company payrolls\n[https://www.reuters.com/world/uk/uk-payrolled-employees-surge-by-197000-may-2021-06-15/] \nin May, in a record-setting surge. That figure comes from tax data, and it’s\nbacked up by official stats: the overall unemployment rate fell to 4.7% for the\nthree months to April. However, the furlough scheme is still paying the wages of\nan estimated 2 million workers.\n\nG’day trade\nThe UK and Australia have agreed a new trade deal\n[https://www.cityam.com/gday-trade-uk-australia-deal-secured-over-downing-st-dinner/] \n- our first big one since leaving the EU. As well as supporting the trade of\ngoods between the two countries, the deal expected to revamp visa requirements\nto make it easier to migrate both ways.","html":"The hospitality industry has warned the 4-week delay to lifting restrictions is very bad news for businesses’ finances, with many having to cancel a month of sold-out events. Clubs were due to reopen on 21st June, but will now have to wait until 19th July. Wedding venues and planners are having a slightly better day though, after Boris Johnson confirmed that celebrations would still be allowed to go ahead with unlimited guest numbers.
197,000 new employees were added to company payrolls in May, in a record-setting surge. That figure comes from tax data, and it’s backed up by official stats: the overall unemployment rate fell to 4.7% for the three months to April. However, the furlough scheme is still paying the wages of an estimated 2 million workers.
The UK and Australia have agreed a new trade deal - our first big one since leaving the EU. As well as supporting the trade of goods between the two countries, the deal expected to revamp visa requirements to make it easier to migrate both ways.
","url":"https://multiply.ghost.io/clubbing-cancelled/","uuid":"abdc5688-51d3-4d77-8225-cc9657541e8b","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"60c857ea6e4273003be1db8a"}},{"node":{"id":"Ghost__Post__60c70ba86e4273003be1db71","title":"Renting cheaper than buying","slug":"renting-is-cheaper-than-buying","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/06/463.png","excerpt":"Plus: freedom day delayed, women’s working hours increase, theatres soon to get state-backed insurance.","custom_excerpt":"Plus: freedom day delayed, women’s working hours increase, theatres soon to get state-backed insurance.","created_at_pretty":"14 June, 2021","published_at_pretty":"14 June, 2021","updated_at_pretty":"14 June, 2021","created_at":"2021-06-14T07:56:24.000+00:00","published_at":"2021-06-14T08:11:12.000+00:00","updated_at":"2021-06-14T08:11:12.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Rents falling\nIt’s cheaper to rent [https://www.bbc.co.uk/news/business-57464534] than to buy\na home for the first time in 6 years, according to Hamptons. The estate agent\nreckons that in March 2020, buyers with a 10% deposit would end up £102 a month\nbetter off on average by buying a home. But falling rents mean it’s now cheaper\nto rent a home in most of the UK.\n\nFreedom day delayed\nThe current coronavirus restrictions are set to stick around for another 4 weeks\nafter 21st June, as “freedom day” is pushed back\n[https://www.bbc.co.uk/news/uk-57464097]. Later today Boris Johnson is expected\nto confirm the delay to the next and final stage of unlocking. It means social\ndistancing measures will remain, and nightclubs will stay shut.\n\nWomen’s hours increase\nMore women are in full time wor\n[https://www.theguardian.com/business/2021/jun/14/women-working-more-hours-in-covid-crisis-than-first-thought-study-finds]\nk now than before the pandemic, bucking the trend for falling working hours. The\nResolution Foundation found that, on average, the employment rate among men has\ndropped 2.4%, and just 0.8% among women. The think tank reckons it’s because\nwomen dominate public sector jobs in health and education. Plus, whose without\nchildren are working an average of 5% more hours than before the crisis.\n\nShow can go on?\nTheatres are close to agreeing a deal with the government for state-backed\ninsurance\n[https://www.cityam.com/theatres-set-the-stage-for-state-backed-insurance-scheme/]\n. They say the scheme would allow shows, concerts, gigs, and festivals to go\nahead. A lack of insurance has been a major barrier to events restarting after\nlockdown, because no insurance companies are providing coronavirus cancellation\ncover.","html":"It’s cheaper to rent than to buy a home for the first time in 6 years, according to Hamptons. The estate agent reckons that in March 2020, buyers with a 10% deposit would end up £102 a month better off on average by buying a home. But falling rents mean it’s now cheaper to rent a home in most of the UK.
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The current coronavirus restrictions are set to stick around for another 4 weeks after 21st June, as “freedom day” is pushed back. Later today Boris Johnson is expected to confirm the delay to the next and final stage of unlocking. It means social distancing measures will remain, and nightclubs will stay shut.
More women are in full time work now than before the pandemic, bucking the trend for falling working hours. The Resolution Foundation found that, on average, the employment rate among men has dropped 2.4%, and just 0.8% among women. The think tank reckons it’s because women dominate public sector jobs in health and education. Plus, whose without children are working an average of 5% more hours than before the crisis.
Theatres are close to agreeing a deal with the government for state-backed insurance. They say the scheme would allow shows, concerts, gigs, and festivals to go ahead. A lack of insurance has been a major barrier to events restarting after lockdown, because no insurance companies are providing coronavirus cancellation cover.
","url":"https://multiply.ghost.io/renting-is-cheaper-than-buying/","uuid":"d4a74b68-fc3b-4981-ad77-810f3443aa81","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"60c70ba86e4273003be1db71"}},{"node":{"id":"Ghost__Post__60c318f56e4273003be1db5b","title":"Record economic rebound","slug":"record-economic-rebound","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/06/462.png","excerpt":"Plus: lack of homes on the market, and Selfridges up for sale.","custom_excerpt":"Plus: lack of homes on the market, and Selfridges up for sale.","created_at_pretty":"11 June, 2021","published_at_pretty":"11 June, 2021","updated_at_pretty":"11 June, 2021","created_at":"2021-06-11T08:04:05.000+00:00","published_at":"2021-06-11T08:08:15.000+00:00","updated_at":"2021-06-11T08:08:37.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Economy recovering\nThe economy jumped 27.6% in April\n[https://www.reuters.com/world/uk/uk-economy-posts-record-annual-jump-april-up-276-2021-06-11/] \ncompared to April 2020 according to official data from the Office for National\nStatistics. That’s the biggest annual rise on record. Hairdressers, holiday\naccommodation and hospitality led the charge, enjoying a huge surge in business.\nOutput rose 2.3% month on month, which is the fastest rate since July. The\nrecovery is gathering pace, but the economy is still 3.7% below pre-pandemic\nlevels.\n\nLack of homes for sale\nThe gap between the number of buyers and properties on the market is at its\nwidest since 2013\n[https://www.telegraph.co.uk/property/buy/number-homes-sale-lowest-point-since-2013/]\n*. That’s according to the Royal Institution of Chartered Surveyors (RICS). A\nlack of homes for sale has created an imbalance between demand and supply,\naccording to estate agents. And it’s a vicious cycle, as home movers decide\nagainst putting their home up for sale in case they can’t find their next place.\n\nSelfridges on the market\nFancy buying the iconic department store? You’ll need to find more than £4\nbillion to beat the current bid. Selfridges owners the Weston family are \nconsidering selling\n[https://www.cityam.com/selfridges-put-up-for-sale-with-4bn-price-tag/] after\nbeing approached about a takeover. It’s been a tough year even for top end\nshops, with retail and travel restrictions taking their toll on sales.\n\n*this article may need a subscription to read","html":"The economy jumped 27.6% in April compared to April 2020 according to official data from the Office for National Statistics. That’s the biggest annual rise on record. Hairdressers, holiday accommodation and hospitality led the charge, enjoying a huge surge in business. Output rose 2.3% month on month, which is the fastest rate since July. The recovery is gathering pace, but the economy is still 3.7% below pre-pandemic levels.
The gap between the number of buyers and properties on the market is at its widest since 2013*. That’s according to the Royal Institution of Chartered Surveyors (RICS). A lack of homes for sale has created an imbalance between demand and supply, according to estate agents. And it’s a vicious cycle, as home movers decide against putting their home up for sale in case they can’t find their next place.
Fancy buying the iconic department store? You’ll need to find more than £4 billion to beat the current bid. Selfridges owners the Weston family are considering selling after being approached about a takeover. It’s been a tough year even for top end shops, with retail and travel restrictions taking their toll on sales.
*this article may need a subscription to read
","url":"https://multiply.ghost.io/record-economic-rebound/","uuid":"3b702b9d-cc2d-4d23-9a9d-b748452d9ce9","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"60c318f56e4273003be1db5b"}},{"node":{"id":"Ghost__Post__60c1d6936e4273003be1db4f","title":"Student loan repayments rising?","slug":"student-loan-repayments-rising","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/06/461.png","excerpt":"Plus: Biden and Johnson sign Atlantic Charter, rogue coronavirus testers still at large, investors want climate action.","custom_excerpt":"Plus: Biden and Johnson sign Atlantic Charter, rogue coronavirus testers still at large, investors want climate action.","created_at_pretty":"10 June, 2021","published_at_pretty":"10 June, 2021","updated_at_pretty":"10 June, 2021","created_at":"2021-06-10T09:08:35.000+00:00","published_at":"2021-06-10T09:10:09.000+00:00","updated_at":"2021-06-10T09:10:09.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Student loans: Making graduates repay their student loans sooner\n[https://www.theguardian.com/education/2021/jun/10/increasing-student-loan-repayments-would-save-government-4bn-a-year] \nwould save the government £4 billion a year according to a new report. The\ngovernment wants to cut costs on student loans, and this proposal comes from\nNick Hillman, the adviser who helped design the current £9,000-a-year system.\nHis new report suggests graduates start repaying their loans once they earn over\n£19,000 a year - it’s currently £26,000.\n\n\nAtlantic Charter: US President Joe Biden arrives in the UK today, for talks in\nCornwall as part of the G7 summit. He and Boris Johnson will sign the Atlantic\nCharter\n[https://www.cityam.com/g7-pm-biden-to-sign-atlantic-charter-as-they-push-to-start-uk-us-travel/]\n, a new pledge modelled on the 1941 agreement between Churchill and FDR. It’ll\nsee the two leaders commit to working together on global challenges like climate\nchange and the post-pandemic recovery.\n\n\nRogue coronavirus testers: Travellers to the UK are falling foul of rogue\ntesting firms [https://www.bbc.co.uk/news/business-57415972] touting misleading\nprice and availability information. Arrivals have to get tested on day 2 and day\n8 after landing in the UK. But consumer group Which? found some\ngovernment-approved test providers are quoting prices for just 1 test, or\nmarketing testing slots that don’t yet exist.\nInvestors want climate action: A group of investors controlling £29 trillion in\nassets have signed a joint statement calling for governments to do more to cut\ncarbon emissions\n[https://www.theguardian.com/business/2021/jun/10/investors-governments-end-support-fossil-fuels-assets-net-zero-targets]\n. The 457 investors include the biggest British asset manager and together they\nhold almost a third of the world’s assets. It’s the largest group of investors\never to join a united call for action to limit the damage from climate change.","html":"Student loans: Making graduates repay their student loans sooner would save the government £4 billion a year according to a new report. The government wants to cut costs on student loans, and this proposal comes from Nick Hillman, the adviser who helped design the current £9,000-a-year system. His new report suggests graduates start repaying their loans once they earn over £19,000 a year - it’s currently £26,000.
Atlantic Charter: US President Joe Biden arrives in the UK today, for talks in Cornwall as part of the G7 summit. He and Boris Johnson will sign the Atlantic Charter, a new pledge modelled on the 1941 agreement between Churchill and FDR. It’ll see the two leaders commit to working together on global challenges like climate change and the post-pandemic recovery.
Rogue coronavirus testers: Travellers to the UK are falling foul of rogue testing firms touting misleading price and availability information. Arrivals have to get tested on day 2 and day 8 after landing in the UK. But consumer group Which? found some government-approved test providers are quoting prices for just 1 test, or marketing testing slots that don’t yet exist.
Investors want climate action: A group of investors controlling £29 trillion in assets have signed a joint statement calling for governments to do more to cut carbon emissions. The 457 investors include the biggest British asset manager and together they hold almost a third of the world’s assets. It’s the largest group of investors ever to join a united call for action to limit the damage from climate change.
BA and Ryanair are under investigation by the consumer watchdog for failing to offer refunds to passengers who couldn’t take their flights. During the pandemic, travel restrictions meant that many people were lawfully unable to fly. By only offering rebooking or vouchers, they may have breached consumer law - and now the Competition and Markets Authority (CMA) has opened enforcement cases against them.
Mortgage deals are now only on the market for 28 days* on average, giving buyers less time to secure a deal. Amid a rush to complete before the end of June, lenders are continually cutting rates and making new deals available. But swapping to a new mortgage deal at the last minute can slow things down and risk delaying completion.
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The UK has taken a step towards labelling green investments properly, with a new working group that’ll look at how to classify climate-friendly assets. Its aim? Stop the “greenwashing” of investments that claim to be sustainable but don’t walk the walk. It’ll come up with a new taxonomy, setting the bar for investments that deserve the green label.
![](\"https://multiply.ghost.io/content/images/2021/06/image-6.png\")
Landowners and rural businesses are calling on the government to allow “pop-up” campsites amid surging demand for UK holiday accommodation. You can currently run a temporary campsite for up to 56 days without planning permission - but campaigners want to make it 6 months to take advantage of the entire camping season.
","url":"https://multiply.ghost.io/ryanair-investigated/","uuid":"f0537bdc-f4c1-4c62-936e-bf4de1858295","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"60c079e56e4273003be1db18"}},{"node":{"id":"Ghost__Post__60bf2b116e4273003be1db04","title":"Travel chaos","slug":"travel-chaos","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/06/459.png","excerpt":"Plus: London homes for £275k, retailers see huge May boost, and TikTok-er misses out on fortune?","custom_excerpt":"Plus: London homes for £275k, retailers see huge May boost, and TikTok-er misses out on fortune?","created_at_pretty":"08 June, 2021","published_at_pretty":"08 June, 2021","updated_at_pretty":"09 June, 2021","created_at":"2021-06-08T08:32:17.000+00:00","published_at":"2021-06-08T08:40:40.000+00:00","updated_at":"2021-06-09T15:46:37.000+00:00","meta_title":"Travel chaos","meta_description":"Plus: London homes for £275k, retailers see huge May boost, and TikTok-er misses out on fortune?","og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Portugal rush\nBrits have landed back in the UK [https://www.bbc.co.uk/news/uk-57393931] from\nPortugal in the nick of time before the country was moved to the amber list at\n4am. Airlines put on dozens of extra flights, but the scramble to re-book\nflights has cost some people hundreds. Returning from an amber country would\nmean taking 2 coronavirus tests and quarantining at home for 10 days. The\ngovernment has urged people to avoid foreign travel, asking them to holiday in\nthe UK if possible.\n\n£275k London homes\nThe quiet suburb of Thamesmead is the most affordable place to buy\n[https://www.cityam.com/first-time-buyers-londons-most-affordable-and-up-and-coming-areas/] \nin London - the average house price in SE28 is currently just £275,194. 5 of the\ntop 10 most affordable postcodes are in southeast London, featuring SE2, SE25,\nSE18 and SE20. The priciest areas are in west London, with typical homes in\nKensington going for almost £2 million.\n\nShopping spree\nRetailers saw a big sales boost in May, as restrictions eased and people \nreturned to high streets\n[https://www.reuters.com/world/uk/uk-retailers-report-strong-may-sales-after-lockdown-ends-2021-06-07/]\n. Total sales for the month were 10% higher than in May 2019 according to the\nBritish Retail Consortium (BRC). Clothes, shoes, and furniture were hot ticket\nitems, with shoppers finally able to see them after months of online-only\nbrowsing.\n\n$82,500 floor?\nA viral TikTok video of a woman’s home renovation has sparked intrigue that the\nposter might have missed out on a fortune\n[https://www.independent.co.uk/news/world/americas/bathroom-floor-pennies-coins-tiktok-b1861328.html]\n. After glueing down 7,700 pennies to create a unique bathroom floor, Jordan\nDarian of West Hollywood was told by one of her followers that one of the\npennies could be a rare vintage coin. One sold in the 90s for $82,500.","html":"Brits have landed back in the UK from Portugal in the nick of time before the country was moved to the amber list at 4am. Airlines put on dozens of extra flights, but the scramble to re-book flights has cost some people hundreds. Returning from an amber country would mean taking 2 coronavirus tests and quarantining at home for 10 days. The government has urged people to avoid foreign travel, asking them to holiday in the UK if possible.
The quiet suburb of Thamesmead is the most affordable place to buy in London - the average house price in SE28 is currently just £275,194. 5 of the top 10 most affordable postcodes are in southeast London, featuring SE2, SE25, SE18 and SE20. The priciest areas are in west London, with typical homes in Kensington going for almost £2 million.
![](\"https://multiply.ghost.io/content/images/2021/06/image-4.png\")
Retailers saw a big sales boost in May, as restrictions eased and people returned to high streets. Total sales for the month were 10% higher than in May 2019 according to the British Retail Consortium (BRC). Clothes, shoes, and furniture were hot ticket items, with shoppers finally able to see them after months of online-only browsing.
A viral TikTok video of a woman’s home renovation has sparked intrigue that the poster might have missed out on a fortune. After glueing down 7,700 pennies to create a unique bathroom floor, Jordan Darian of West Hollywood was told by one of her followers that one of the pennies could be a rare vintage coin. One sold in the 90s for $82,500.
","url":"https://multiply.ghost.io/travel-chaos/","uuid":"fdfb6c25-542c-439e-b4e0-28113f170e19","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"60bf2b116e4273003be1db04"}},{"node":{"id":"Ghost__Post__60bde9b16e4273003be1daee","title":"Help-to-buy loan confusion","slug":"help-to-buy-loan-confusion","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/06/Frame-100.png","excerpt":"Plus: reduced foreign investment, Tesla sales surge, and dating apps partner with the government","custom_excerpt":"Plus: reduced foreign investment, Tesla sales surge, and dating apps partner with the government","created_at_pretty":"07 June, 2021","published_at_pretty":"07 June, 2021","updated_at_pretty":"09 June, 2021","created_at":"2021-06-07T09:41:05.000+00:00","published_at":"2021-06-07T09:48:42.000+00:00","updated_at":"2021-06-09T15:46:57.000+00:00","meta_title":"Help-to-buy loan confusion","meta_description":"Plus: reduced foreign investment, Tesla sales surge, and dating apps partner with the government","og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Tim Elder","slug":"tim","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Tim Elder","slug":"tim","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Help-to-buy loan confusion\nFirst-time homebuyers have been unable to complete purchases\n[https://www.theguardian.com/money/2021/jun/06/little-known-deadline-threatens-to-scupper-homebuyers-dreams] \nbecause of a new rule for developers. To qualify for the loan, homes reserved\nthis year must be fully built by 31 December - at least, that’s what some\nhomebuyers have been told by Homes England, the public body that funds\naffordable housing. But when the Observer called advice lines, staff insisted\nthere was no such date.\n\nReduced foreign investment\nAttracting foreign investment is a key aim of the current government. This year, \nthe UK lost out to France\n[https://www.theguardian.com/business/2021/jun/07/uk-second-to-france-again-for-attracting-foreign-investment-in-europe-brexit-covid-19] \nas the most popular European destination for foreign investors for the second\nyear in a row, amid disruption from Brexit and the pandemic. The UK had\ndominated foreign direct investments into Europe for the prior 18 years. C'est\nla vie.\n\nTesla sales surge\nIts Model 3 has become 2021’s most popular battery electric car\n[https://www.theguardian.com/business/2021/jun/06/tesla-model-3-becomes-most-popular-battery-electric-car-on-uk-roads] \nin the UK, pushing the Nissan Leaf into 2nd place. Electric car sales are up\nacross rich nations, as carmakers respond to new regulations, and the threat of\nbans. \n\nUK gov swipes right\nTinder, Match, Hinge, Bumble, Badoo, Plenty of Fish, OurTime, and Muzmatch, have \npartnered with the UK Government\n[https://www.bbc.co.uk/news/technology-57379034] to add vaccine badges to their\nplatform. Online daters can choose to display a badge that reflects their\nvaccination status. A YouGov poll of nearly 5,000 UK adults saw 28% of\nrespondents say they would not date someone unvaccinated.","html":"First-time homebuyers have been unable to complete purchases because of a new rule for developers. To qualify for the loan, homes reserved this year must be fully built by 31 December - at least, that’s what some homebuyers have been told by Homes England, the public body that funds affordable housing. But when the Observer called advice lines, staff insisted there was no such date.
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Attracting foreign investment is a key aim of the current government. This year, the UK lost out to France as the most popular European destination for foreign investors for the second year in a row, amid disruption from Brexit and the pandemic. The UK had dominated foreign direct investments into Europe for the prior 18 years. C'est la vie.
Its Model 3 has become 2021’s most popular battery electric car in the UK, pushing the Nissan Leaf into 2nd place. Electric car sales are up across rich nations, as carmakers respond to new regulations, and the threat of bans.
Tinder, Match, Hinge, Bumble, Badoo, Plenty of Fish, OurTime, and Muzmatch, have partnered with the UK Government to add vaccine badges to their platform. Online daters can choose to display a badge that reflects their vaccination status. A YouGov poll of nearly 5,000 UK adults saw 28% of respondents say they would not date someone unvaccinated.
Aspiring homeowners who struggle to afford to get on the ladder could get their home half price from today. First-time buyers can apply for a discount of up to 50% on a new build under the government’s new First Home scheme. The first eligible properties went on the market today in Derbyshire and around 1,500 are expected in autumn. The discount is only for those with a total annual income of under £80,000 - or £90,000 in London.
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Firms are in desperate need of workers as the economy reopens, but staff are in short supply. Demand for workers has risen at its fastest rate in 23 years according to KPMG. Hospitality and tech workers are particularly hot property right now, and recruiters are urging the government to address the skills ress the skills shortage.
New car sales rose 670% last month compared to May 2020 when all dealerships were shut. 156,000 sets of wheels rolled off forecourts throughout the month, which is still lower than the 183,724 recorded in May 2019.
G7 finance ministers are meeting in London this weekend to try and work out a global deal for taxing tech giants like Amazon and Facebook. It’s a point of disagreement between the US and other countries, but Chancellor Rishi Sunak says he’s confident of making progress. They’ll also discuss climate change and a green recovery from the pandemic.
","url":"https://multiply.ghost.io/half-price-homes-go-on-sale/","uuid":"dd104d86-ada0-4ec9-8680-710cb54e400f","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"60b9e3edfcd600003bbc8878"}},{"node":{"id":"Ghost__Post__60b89049fcd600003bbc87bf","title":"No work emails after 5pm?","slug":"no-work-emails-after-5pm","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/06/456.png","excerpt":"Plus: homebuying legal fees double, Hermes under investigation, whisky export tariffs slashed.","custom_excerpt":"Plus: homebuying legal fees double, Hermes under investigation, whisky export tariffs slashed.","created_at_pretty":"03 June, 2021","published_at_pretty":"03 June, 2021","updated_at_pretty":"09 June, 2021","created_at":"2021-06-03T08:18:17.000+00:00","published_at":"2021-06-03T08:23:01.000+00:00","updated_at":"2021-06-09T15:49:13.000+00:00","meta_title":"No work emails after 5pm?","meta_description":"Plus: homebuying legal fees double, Hermes under investigation, whisky export tariffs slashed.","og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Right to disconnect\nBosses could be banned from calling or emailing [about:blank] staff outside\nnormal working hours under proposals from the Prospect union. It wants the\ngovernment to give employees a legal “right to disconnect”. Working from home\nhas blurred the lines between work and life for many. The Office for National\nStatistics says home workers did an average of 6 hours unpaid overtime each\nweek.\n\nLegal fees double\nHome buyers are facing a spike in conveyancing costs\n[https://www.telegraph.co.uk/property/uk/home-moving-costs-double-buyers-swarm-stamp-duty-holiday-deadline/]\n* amid the rush to complete before the stamp duty deadline. Many solicitors are\nincreasing their rates due to increased demand and the extra work created by\ndelayed transactions. Hamptons estimates it currently takes 91 days from having\nan offer accepted to exchanging contracts - the pre-pandemic average was 82\ndays.\n\nHermes investigated\nA government committee is looking into claims that Hermes couriers were forced\nto accept pay cuts\n[https://www.theguardian.com/business/2021/jun/03/hermes-couriers-claim-they-were-told-to-accept-pay-cuts-or-lose-work] \nor risk losing work. Couriers, who are paid per delivery, have also claimed that\nthey spend unpaid time sorting parcels in order to make their deliveries on\ntime.\n\nWhisky exports\nThe UK is looking to slash the 5% tariff\n[https://www.cityam.com/uk-looks-to-slash-tariffs-on-scotch-whisky-exports-in-australia-trade-eal/] \non Scotch whisky exports as part of trade negotiations with Australia. The\nDepartment for International Trade is aiming to strike a deal this month - the\nfirst from scratch since leaving the EU. Australia is the eighth largest market\nfor Scotch and drank £113 million worth of drams last year.","html":"Bosses could be banned from calling or emailing staff outside normal working hours under proposals from the Prospect union. It wants the government to give employees a legal “right to disconnect”. Working from home has blurred the lines between work and life for many. The Office for National Statistics says home workers did an average of 6 hours unpaid overtime each week.
Home buyers are facing a spike in conveyancing costs* amid the rush to complete before the stamp duty deadline. Many solicitors are increasing their rates due to increased demand and the extra work created by delayed transactions. Hamptons estimates it currently takes 91 days from having an offer accepted to exchanging contracts - the pre-pandemic average was 82 days.
A government committee is looking into claims that Hermes couriers were forced to accept pay cuts or risk losing work. Couriers, who are paid per delivery, have also claimed that they spend unpaid time sorting parcels in order to make their deliveries on time.
The UK is looking to slash the 5% tariff on Scotch whisky exports as part of trade negotiations with Australia. The Department for International Trade is aiming to strike a deal this month - the first from scratch since leaving the EU. Australia is the eighth largest market for Scotch and drank £113 million worth of drams last year.
","url":"https://multiply.ghost.io/no-work-emails-after-5pm/","uuid":"43560494-d71f-49e4-81aa-540cf145b760","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"60b89049fcd600003bbc87bf"}},{"node":{"id":"Ghost__Post__60b7457cfcd600003bbc87a8","title":"0.99% mortgage launches","slug":"0-99-mortgage-launches","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/06/455.png","excerpt":"Plus: supermarket prices hike, and Wetherspoons wants EU workers back.","custom_excerpt":"Plus: supermarket prices hike, and Wetherspoons wants EU workers back.","created_at_pretty":"02 June, 2021","published_at_pretty":"02 June, 2021","updated_at_pretty":"09 June, 2021","created_at":"2021-06-02T08:46:52.000+00:00","published_at":"2021-06-02T09:02:00.000+00:00","updated_at":"2021-06-09T15:49:44.000+00:00","meta_title":"0.99% mortgage launches","meta_description":"Plus: supermarket prices hike, and Wetherspoons wants EU workers back.","og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Cheaper mortgages\nCompetition in the mortgage market seems to be hotting up, with a new 0.99%\ninterest deal launching today\n[https://www.cityam.com/0-99-per-cent-mortgages-hit-the-market-as-battle-for-home-buyers-heats-up/] \nfrom Nationwide. The 2-year fixed-rate mortgage is only for buyers with a 40%\ndeposit, but the lender said its cutting rates on other deals too. The average\ntwo-year fixed-rate mortgage across all deposit sizes is currently 2.58%.\n\nSupermarket price hikes\nThe big shop could make more of a dent in your wallet come autumn as food\nprices\nrise [https://www.bbc.co.uk/news/business-57314680], the British Retail\nConsortium has warned. Brexit bureaucracy and rising food and shipping costs are\nputting pressure on supermarkets - and these price hikes will likely be passed\nonto shoppers. \n\nWant EU back\nBrexiter and ‘Spoons owner Tim Martin has joined industry bosses calling for \nrelaxed visa rules for EU migrants\n[https://www.cityam.com/arch-brexiter-wetherspoons-boss-tim-martin-pushes-for-work-visa-for-eu-pint-pullers/]\n. Pubs and restaurants are struggling to recruit enough staff, with many\nstopping lunchtime service. Trade body UKHospitality estimates the shortfall at\n188,000 workers, after many left the industry - or the country - during the\npandemic.","html":"Competition in the mortgage market seems to be hotting up, with a new 0.99% interest deal launching today from Nationwide. The 2-year fixed-rate mortgage is only for buyers with a 40% deposit, but the lender said its cutting rates on other deals too. The average two-year fixed-rate mortgage across all deposit sizes is currently 2.58%.
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The big shop could make more of a dent in your wallet come autumn as food prices rise, the British Retail Consortium has warned. Brexit bureaucracy and rising food and shipping costs are putting pressure on supermarkets - and these price hikes will likely be passed onto shoppers.
Brexiter and ‘Spoons owner Tim Martin has joined industry bosses calling for relaxed visa rules for EU migrants. Pubs and restaurants are struggling to recruit enough staff, with many stopping lunchtime service. Trade body UKHospitality estimates the shortfall at 188,000 workers, after many left the industry - or the country - during the pandemic.
","url":"https://multiply.ghost.io/0-99-mortgage-launches/","uuid":"6fe33808-040f-4529-8f63-0237a23dc49d","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"60b7457cfcd600003bbc87a8"}},{"node":{"id":"Ghost__Post__60b60762fcd600003bbc8794","title":"BoE on inflation watch","slug":"boe-on-inflation-watch","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/06/454.png","excerpt":"Plus: UK economy set to grow 7.2% in 2021, ketchup’s coming home to Wigan, and cash falls out of favour.","custom_excerpt":"Plus: UK economy set to grow 7.2% in 2021, ketchup’s coming home to Wigan, and cash falls out of favour.","created_at_pretty":"01 June, 2021","published_at_pretty":"01 June, 2021","updated_at_pretty":"09 June, 2021","created_at":"2021-06-01T10:09:38.000+00:00","published_at":"2021-06-01T10:14:33.000+00:00","updated_at":"2021-06-09T15:50:07.000+00:00","meta_title":"BoE on inflation watch","meta_description":"Plus: UK economy set to grow 7.2% in 2021, ketchup’s coming home to Wigan, and cash falls out of favour.","og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Inflation watch\nThe Bank of England is keeping a close eye on the housing market\n[https://www.theguardian.com/business/2021/jun/01/bank-of-england-monitors-uk-housing-boom-as-it-weighs-inflation-risk-dave-ramsden-covid]\n, in case rising property prices have knock-on impacts for price inflation more\ngenerally. House prices have jumped 10.9% in the past year, according to the\nlatest data from Nationwide. Inflation is currently at 1.5% and is expected to\nexceed the Bank’s 2% target for a few months as people start to go out and spend\nmore.\n\nEconomic boom incoming\nThe UK economy is set to grow 7.2% in 2021\n[https://www.cityam.com/uk-economy-set-to-grow-7-2-per-cent-this-year-oecd-forecasts/] \nin the fastest growth spurt since WW2. That’s according to the Organisation for\nEconomic Co-operation and Development (OECD), which previously thought the\nrecovery would be a lot slower. It also forecasts 5.5% growth in 2022, bringing\nthe economy back to pre-pandemic levels in the first few months of next year.\n\nKetchup’s coming home\nKraft Heinz plans to make ketchup [https://www.bbc.co.uk/news/business-57312162]\n, mayonnaise, and salad cream in the UK once again, for the first time in over\n20 years. It’ll invest £140 million in Wigan’s Kitts Green plant to start\nproducing the British favourites. The pandemic has squeezed the sauce maker,\nwhich had to step up production of sachets after the takeaway boom created\nshortages. \n\nCash crash\nJust 7% of UK in-store purchases could be made in cash\n[https://www.theguardian.com/money/2021/jun/01/just-7-of-uk-shop-payments-predicted-to-be-in-cash-by-2024-report] \nby 2024, according to a report by Worldpay. The pandemic has accelerated the\nswitch to card and contactless payments; cash use in shops has more than halved\nsince 2019. Other countries such as Sweden are forecast to be “almost cashless”\nwithin the next 3 years.","html":"The Bank of England is keeping a close eye on the housing market, in case rising property prices have knock-on impacts for price inflation more generally. House prices have jumped 10.9% in the past year, according to the latest data from Nationwide. Inflation is currently at 1.5% and is expected to exceed the Bank’s 2% target for a few months as people start to go out and spend more.
![](\"https://multiply.ghost.io/content/images/2021/06/image.png\")
The UK economy is set to grow 7.2% in 2021 in the fastest growth spurt since WW2. That’s according to the Organisation for Economic Co-operation and Development (OECD), which previously thought the recovery would be a lot slower. It also forecasts 5.5% growth in 2022, bringing the economy back to pre-pandemic levels in the first few months of next year.
Kraft Heinz plans to make ketchup, mayonnaise, and salad cream in the UK once again, for the first time in over 20 years. It’ll invest £140 million in Wigan’s Kitts Green plant to start producing the British favourites. The pandemic has squeezed the sauce maker, which had to step up production of sachets after the takeaway boom created shortages.
Just 7% of UK in-store purchases could be made in cash by 2024, according to a report by Worldpay. The pandemic has accelerated the switch to card and contactless payments; cash use in shops has more than halved since 2019. Other countries such as Sweden are forecast to be “almost cashless” within the next 3 years.
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