Business
Tories set to force vote on scrapping fuel duty increase
The Tories are set to force a vote in the Commons on scrapping a planned fuel duty increase amid soaring oil prices following the US-Israel attacks on Iran.
Shadow transport secretary Ricard Holden branded the increase “another egregious tax” as he opened an Opposition Day motion on Wednesday in an effort to block the proposed September rise.
Oil and gas prices have been driven up as Iran has throttled key shipping routes through the Strait of Hormuz, with commercial vessels coming under attack in the region.
The Conservatives’ motion is unlikely to pass due to Labour’s large Commons majority.
Mr Holden branded the increase the “wrong thing to do” and accused the Government of “choosing to balance the books on the back of working Britain”.
He said: “This House has come together to hear of yet another egregious tax on transport pushed out by this Labour Government at a time when people across the country are worried about the cost of getting around.
“On this occasion, the Government, in its infinite wisdom, has decided that this is a moment, the opportune time, to cancel the fuel duty freeze the last Conservative government kept for 13 years, protecting hard-working people from paying extra to get to work, to have appointments, to visit friends and families.”
Fuel duty has been frozen since 2011, and was temporarily cut by 5p in 2022 in response to Russia’s full-scale invasion of Ukraine.
In her budget last year, Ms Reeves said the 5p cut would be gradually unwound from September.
Mr Holden continued: “Under this Government, on top of the countless tax rises that they‘ve already shafted us with, we cannot even get through two years before they decide that the British people need yet another tax rise, and it’s a tax rise in a sneaky and stealthy way.”
Under current plans, fuel duty will rise by 1 pence per litre in September. The current levels are the same as the freeze introduced in March 2022.
He said: “The British people deserve better than underhand taxes swindling them out of the pounds in their pockets, and to pay for that? To pay for more welfare, a tax on every car, every van, every motorbike and every bus.”
Treasury minister Torsten Bell responded that the Government recognises that “fuel costs matter enormously to people right across the country” and insisted they have “already taken action to ensure that fuel remains affordable”.
“In November’s budget, we extended the temporary 5p per litre cut to fuel duty for a further five months,” he said.
“Additionally, we cancelled the inflation-linked increase plan for 26/27.
“Our fuel duty changes will save the average motorist over £90.”
He added: “This Government will take the necessary decisions to help protect both household finances and public finances.”
“For all the froth from the shadow secretary of state, the truth is the last government didn’t budget for any extension of the 5p cut.
“They said explicitly it was temporary, and on the level of fuel duty, here is the truth: through the entire 14 years in office, it was never lower than it is today. In fact, it was higher than it is today for 80% of the time they were in office.”
Business
Ads for British beef and milk banned following Chris Packham complaint
Two ads promoting British beef and milk have been banned after television presenter and environmental campaigner Chris Packham complained that they misled consumers about the products’ carbon footprints.
Both ads for the Agriculture and Horticulture Development Board’s (AHDB) Let’s Eat Balanced campaign used the carbon footprint of British beef and milk to promote the products, firstly stating: “British beef not only tastes great, but has a carbon footprint that’s half the global average*.”
The asterisk linked to text that stated: “Full lifecycle emissions of CO2 eq (carbon dioxide equivalent) per kg of beef.”
The ad for milk stated: “British milk not only tastes good, but is also produced to world-class standards, and has a carbon footprint a third lower than the global average.”
Packham complained to the Advertising Standards Authority (ASA) that the ads, and specifically the carbon footprint claims, were misleading as they did not reflect the full environmental impact of British meat and dairy.
The AHDB said the ads’ mention of carbon emissions would be understood in relation to the environmental impact of beef and milk that occurred between the “cradle-to-retail” stages.
But the ASA said the average consumer “being reasonably well-informed, observant and circumspect” would understand the claims to apply beyond the retail stage and include actions such as cooking and wastage.
The ASA said: “While we acknowledged the potential difficulties in producing post-retail emissions data, the claims in the ads suggested those emissions were included and we therefore expected the evidence provided to also include them.
“We therefore concluded that the evidence presented was insufficient to support the full life-cycle claims in the ads, which was how the average consumer was likely to interpret them.
“We reminded AHDB that environmental claims should be based on the full life cycle unless the ad stated otherwise.”
AHDB’s director of communications and market development, Will Jackson, said: “Let’s Eat Balanced is doing what it was designed to do, providing clear, factual, evidence-led information about British food, nutrition and farming standards.
“Since the investigation began, we have conducted independent consumer research which found that the majority of respondents interpreted these adverts as relating to the production phase only, from farm to retail.
“This research provides important insight into consumer understanding and supports our belief that consumers were not misled by the information we shared in these two specific adverts.”
Business
Gen Z pros embrace ‘portfolio careers’ as side hustles surge – The Times of India
BENGALURU: India’s Gen Z workforce is embracing what experts describe as “portfolio careers” – balancing multiple professional identities and income streams simultaneously. New research from LinkedIn shows that 75% of Gen Z entrepreneurs in India now manage multiple income streams, significantly higher than the 62% among Gen X entrepreneurs. The findings point to a growing preference among younger professionals for flexibility, autonomy and diversified sources of income. “We’re also seeing the rise of the ‘portfolio era’, with more professionals creating multiple income streams and redefining what a career can look like. This shift is making entrepreneurship more accessible than ever before,” said LinkedIn India country manager Kumaresh Pattabiraman.Rather than depending on a single full-time role, many professionals are simultaneously building businesses, freelancing, consulting, creating online content and monetising specialised skills through digital platforms. The trend comes amid a broader rise in entrepreneurial activity in India. LinkedIn recorded a 104% year-on-year increase in members adding “Founder” to their profiles – the highest growth among all global markets.AI is also emerging as a major enabler of this shift. The report found that 85% of Gen Z entrepreneurs consider AI and digital tools important to their business operations.
Business
Elon Musk said control of OpenAI should go to his children, Sam Altman tells jury
Sam Altman said Elon Musk tried many times for total control of OpenAI, which he’s now suing.
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