Business Update – 6 July 2022
Welcome back to our Business Update. Read on for the latest updates and some ideas to help us all move forward.
Tonnes of food on British farms left unpicked
Due to a lack of seasonal workers, farmers are losing hundreds of thousands of pounds due to unpicked crops. The labour shortage was triggered by Brexit and then the invasion of Ukraine.
UK and New Zealand working holiday visas raise age limit to 35
Under the Youth Mobility and Working Holiday schemes, younger Brits and Kiwis now have until the age of 35 to get a visa to live and work in either country. Previously the age limit was capped at 30.
Childcare changes to be announced this week
Critics say that the move to change the number of two-year-olds who can be cared for by one adult in a nursery from four to five, meant to help parents with the cost of living, is unlikely to realistically make much of a difference.
Government considers 50-year mortgages to help ease housing crisis
The government is considering new plans to allow 50-year mortgages, which could be passed on to a homeowner’s children when they die.
Years of stagnant wages compounding cost of living crisis
According to the Resolution Foundation think tank, many families have been unable to build up the savings needed to cope with growing prices this year due to 15 years of stagnant wages leading up to the pandemic.
Energy rebate at the mercy of landlords
Rishi Sunak announced a £400 rebate for customers on their energy bills, but rules about whether renters will get the money if it’s included in their rent are lacking.
How to save money on your weekly shop
The BBC has rounded up 5 tips on how to save money at the grocery store amidst the cost of living crisis. It can be found here.
Number of pubs in England and Wales continues to fall
Thousands of pubs have closed over the last decade as younger people drink less, supermarkets sell cheaper alcohol, and the industry complains of being too heavily taxed – but the pandemic has forced even more pubs to close recently.
EasyJet executive resigns amid travel disruptions
EasyJet’s chief operating officer Peter Bellew has resigned after a series of flight cancellations and disruption at the airline in recent weeks.
Consultation to upgrade Sovereign Investor tax-treatment launched
The UK government has launched a consultation to modernise and improve the tax treatment it provides to foreign sovereign investors. Details can be found here.
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