16 June, 2021
UK electric cars overtaken
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.
BOMAD dries up
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.
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