Two more ads banned over ‘misleading' government funding claim
The Advertising Standards Authority (ASA) found that ads from home heating supplier Aira and EDF Energy both failed to include information regarding the eligibility criteria for government funding available for installing the pumps.
It comes a week after the ASA banned an ad from Octopus Energy for misleading consumers by claiming heat pumps could be installed for as little as £500.
The Meta ad for Aira, seen in March, said: 'Ditch your gas boiler for an Aira heat pump today … £7,500 grant available.'
Aira said the ad was only targeted at homeowners living in England and Scotland, where £7,500 Government grants were available to replace their gas boiler with a heat pump.
The firm said it did not believe that a consumer would interpret the ad to mean the grants were given automatically and without conditions.
It added that social media ads did not allow for extensive clarification and claimed that consumers would be confused by phrasing such as 'eligibility criteria apply'.
They said that, in practice, nearly all of their customers who replaced a gas boiler in their own home with a heat pump were eligible for a £7,500 grant.
However, the ASA said the ad gave the impression that consumers would be automatically eligible to receive a government grant of £7,500, and it did not make clear that the funding for a heat pump was subject to eligibility.
EDF's Google ad in February said: 'Get A £7,500 Grant – EDF Air Source Heat Pumps.'
EDF said the ad linked through to one of three pages, where all relevant information about the government funding's eligibility criteria was made clear.
Again, the ASA said the ad did not make clear that government funding for a heat pump was subject to eligibility.
The ASA said of both ads: 'We considered that it was material information that should have been included. Because the ad omitted material information, we concluded it was likely to mislead.'
Last week, the ASA told Octopus to ensure that ads making price claims for heat pump installation included all material information, including clarification of any Government grant included in the advertised price and the existence of eligibility criteria.
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FTSE 100 LIVE: Stocks steady after Bank of England rate cut vote
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Gold (GC=F) prices jumped on Friday morning in London following reports of a potential US tariff on one-kilo gold bars by the Financial Times. The report on Thursday referenced the Customs Border Protection Agency, which said one-kilo and 100-ounce gold (GC=F) bars would be subject to a new customs code following a ruling letter on 31 July seen by reporters. Gold (GC=F) futures were sent to fresh highs settling above the $3,500 an ounce mark after hitting an all-time high of $3,534.10, while spot gold rose 0.4% to $3,401 per ounce. "Rather like the copper market it's unbalanced the usual internal structure of the physical vs futures markets," said Neil Wilson, UK investor strategist at Saxo Markets. "The NY market is used by bullion banks as a hedging tool, so we're seeing shorts intended as hedges get blown up. For now the London spot price is the most reliable gauge of price." Gold prices have been sensitive in recent months amid geopolitical uncertainty sewn by president Donald Trump's tariffs. Price rises are usually an indicator of volatility in the rest of the market, as traders flock to assets that retain a steady value. The latest move is tricky for Switzerland in particular, which now faces a 39% tariff on one of its premium exports. In 2023, Switzerland's gold exports reached $109bn, making it the world's largest exporter of gold, according to the Observatory of Economic complexity. UK high street footfall dips in July UK high street footfall dipped for a second year running in July, with a heatwave failing to entice people to shops. Total UK footfall decreased by 0.4% year-on-year, up from -1.8% in June, the British Retail Consortium (BRC) said in its monthly update. Experts say spending may have moved to leisure activities such as watching the Women's Euros, rather than spending on the high street, as consumer sentiment remains cautious. 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