Tuesday newspaper round-up: Cost of living, Meggitt, big tech

by | Oct 19, 2021

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Ministers have unveiled plans for £5,000 grants to allow people to install home heat pumps and other low-carbon boiler replacements as part of a wider heat and buildings strategy that some campaigners warned lacked sufficient ambition and funding. Labour also condemned the plans as “more of Boris Johnson’s hot air”, without sufficient substance.- Guardian
British households will be £1,000 worse off next year from a cost of living squeeze created by rising energy prices and shortages of workers and supplies caused by Covid and Brexit, a leading thinktank has warned. The Resolution Foundation said higher levels of inflation would weigh down workers’ earnings next year, contributing to a hit to the average household income in Britain at a time when the government is cutting benefits and raising taxes. – Guardian

Kwasi Kwarteng has intervened in a planned £6.3bn US takeover of Meggitt amid concerns it could harm national security. The Government issued a public interest intervention notice into Parker Hannifin’s deal on Monday night in a move it said came after ministers received official advice. – Telegraph

Big Tech companies have been accused of failing to stop an “epidemic of scams” that has caused some victims to consider taking their own lives. Martin Lewis, the founder of consumer advice website MoneySavingExpert, told MPs the proliferation of scam adverts on social media had resulted in some people being defrauded of tens of thousands of pounds. – Telegraph

 

Boris Johnson has announced almost £10 billion of overseas investment in Britain before a global summit in an attempt to trump Emmanuel Macron’s efforts to lure businesses to France. The prime minister said that the 18 new trade and investment pledges would “power our economic recovery”, creating 30,000 jobs in sectors such as wind and hydrogen energy, and environmentally friendly homes. – The Times

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