Latest news with #post-EU
Wales Online
2 days ago
- Business
- Wales Online
110,000 extra households in Wales will see energy bills cut by £150
110,000 extra households in Wales will see energy bills cut by £150 The warm home discount is being extended, which means thousands of more households in Wales will see their energy bills slashed by £150 this winter An additional 110,000 households in Wales are set to receive a £150 reduction on their energy bills this winter as the warm home discount scheme is extended, the UK Government has confirmed. The latest measure comes after a series of cost of living support initiatives were made through the government's Plan for Change. As a result approximately 110,000 extra households in Wales will get a £150 decrease in their energy bills this winter. For money-saving tips sign up to our Money newsletter here. In the UK more than six million households will receive the discount, which will see 2.7m more households receive support including 900,000 families with children and a total of 1.8m households in fuel poverty. According to the UK Government every billpayer on means-tested benefits will be eligible, eliminating previous restrictions that excluded those in need in the past. On the UK Government's website they say their Plan for Change initiative aims to stabilise the economy, adding: "Our missions – growing the economy, an NHS fit for the future, safer streets, opportunity for all, and making Britain a clean energy superpower – are part of a decade of national renewal built on the foundations of a stable economy, secure borders, and national security." It comes after First Minister of Wales Eluned Morgan said she would hold the UK Government's 'feet to the fire' after receiving what she said were categorical assurances that Prime Minister Keir Starmer would follow through on a manifesto pledge of returning the running of post-EU structural funding to the Welsh Government. You can read more about this here. Article continues below In regards to the £150 reduction to thousands of households in Wales Mr Starmer said: " I know families across Wales are still struggling with the cost of living and I know the fear that comes with not being able to afford your next bill. "Providing security and peace of mind for working people is deeply personal to me as Prime Minister and foundational for the Plan for Change." Secretary of State for Wales Jo Stevens added: "This big increase in the number of households receiving money off their energy bills will make a real difference to working people and families right across Wales. "Our key objective is putting more money in people's pockets, firstly by growing the economy but also by increasing the minimum wage, making increases to universal credit and the state pension, and providing support with energy bills." The energy price cap is set to reduce this July with the additional £150, which was announced on Wednesday, June 18, aiming to further help households. Households can find out if they are eligible with the UK Gov website here. Article continues below
Yahoo
07-05-2025
- Business
- Yahoo
Faisal Islam: UK-India deal secured as Trump tariffs everywhere
It has long been the great prize for Britain's post-EU trade freedom - a deal with what is now the world's most populous country. India has agreed its most generous free trade agreement with the UK, which is at the same time Britain's biggest post-Brexit trade deal. It means a big boost for key UK exports such as whisky and cars which will see very high tariffs or taxes on imports slashed. This is not a normal deal taking two way trade down to zero tariffs. India is a highly protectionist economy. So, while 99% of tariffs on India's exports to the UK will be eradicated, 85% of British exports will not be tariffed going to India. But because British exports are so much higher value than Indian exports of clothing, footwear, and food, this should be worth £15bn extra for British exports and £10bn for India by 2040. This could change, though. For example, 88,000 cheaper Indian cars will now be able to be imported tariff free. The UK government sees this as a win-win which helps exporters, creates jobs, and means lower prices for consumers. This is all part of, in Trade Secretary Jonathan Reynolds words, making the UK the "most connected market in the world" - with a Brexit reset, a deal with the US, "pragmatism" on China, and new deals with India, and soon the Gulf. But there is also a much bigger picture here. This is the worlds fifth and sixth biggest economies doing a much closer deal to increase trade at a time when the top two - the US and China - are involved in a brutal trade war, and the Trump administration is tariffing everywhere. This may be one of the reasons why this elusive deal, coveted by many previous governments, has finally got over the line. It also turns the page on decades of missed economic opportunities, given the strong historic connections between the two nations.
Business Mayor
06-05-2025
- Business
- Business Mayor
Faisal Islam: UK-India deal secured as Trump tariffs everywhere
It has long been the great prize for Britain's post-EU trade freedom – a deal with what is now the world's most populous country. India has agreed its most generous free trade agreement with the UK, which is at the same time Britain's biggest post-Brexit trade deal. It means a big boost for key UK exports such as whisky and cars which will see very high tariffs or taxes on imports slashed. This is not a normal deal taking two way trade down to zero tariffs. India is a highly protectionist economy. So, while 99% of tariffs on India's exports to the UK will be eradicated, 85% of British exports will not be tariffed going to India. But because British exports are so much higher value than Indian exports of clothing, footwear, and food, this should be worth £15bn extra for British exports and £10bn for India by 2040. This could change, though. For example, 88,000 cheaper Indian cars will now be able to be imported tariff free. The UK government sees this as a win-win which helps exporters, creates jobs, and means lower prices for consumers. This is all part of, in Trade Secretary Jonathan Reynolds words, making the UK the 'most connected market in the world' – with a Brexit reset, a deal with the US, 'pragmatism' on China, and new deals with India, and soon the Gulf. But there is also a much bigger picture here. This is the worlds fifth and sixth biggest economies doing a much closer deal to increase trade at a time when the top two – the US and China – are involved in a brutal trade war, and the Trump administration is tariffing everywhere. Read More Tesla shares slump after European sales fall This may be one of the reasons why this elusive deal, coveted by many previous governments, has finally got over the line. It also turns the page on decades of missed economic opportunities, given the strong historic connections between the two nations.
Yahoo
06-05-2025
- Business
- Yahoo
Faisal Islam: UK-India deal secured as Trump tariffs everywhere
It has long been the great prize for Britain's post-EU trade freedom - a deal with what is now the world's most populous country. India has agreed its most generous free trade agreement with the UK, which is at the same time Britain's biggest post-Brexit trade deal. It means a big boost for key UK exports such as whisky and cars which will see very high tariffs or taxes on imports slashed. This is not a normal deal taking two way trade down to zero tariffs. India is a highly protectionist economy. So, while 99% of tariffs on India's exports to the UK will be eradicated, 85% of British exports will not be tariffed going to India. But because British exports are so much higher value than Indian exports of clothing, footwear, and food, this should be worth £15bn extra for British exports and £10bn for India by 2040. This could change, though. For example, 88,000 cheaper Indian cars will now be able to be imported tariff free. The UK government sees this as a win-win which helps exporters, creates jobs, and means lower prices for consumers. This is all part of, in Trade Secretary Jonathan Reynolds words, making the UK the "most connected market in the world" - with a Brexit reset, a deal with the US, "pragmatism" on China, and new deals with India, and soon the Gulf. But there is also a much bigger picture here. This is the worlds fifth and sixth biggest economies doing a much closer deal to increase trade at a time when the top two - the US and China - are involved in a brutal trade war, and the Trump administration is tariffing everywhere. This may be one of the reasons why this elusive deal, coveted by many previous governments, has finally got over the line. It also turns the page on decades of missed economic opportunities, given the strong historic connections between the two nations.
The Independent
28-01-2025
- Business
- The Independent
Experts clash over Brexit's impact five years on in The Independent's latest virtual event
The Independent 's latest virtual event explored Brexit's impact nearly five years post-EU departure. Panellists included Labour MP Stella Creasy; Conservative MP Mark Francois; former Brexit Party MEP Claire Fox, Baroness Fox of Buckley; and Professor Anand Menon, director of UK in a Changing Europe. Chaired by our chief political commentator John Rentoul, the discussion addressed reversing Brexit, economic implications, youth mobility, and public sentiment shifts. To learn about our upcoming virtual events click here. If you enjoy our virtual events, please consider supporting The Independent with a donation or by subscribing to Independent Premium.
