Wales' rail infrastructure in ‘severe need of investment', Ceredigion Preseli MP says
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The Independent
a minute ago
- The Independent
UK inflation to rise as summer spending pushes up hotels and airfares
UK inflation is set to have edged higher last month as summer spending pushed up flight and hotel costs, and food prices continue to climb. One economist said an ' Oasis bump' could have contributed to higher accommodation prices in July. Consumer Prices Index (CPI) inflation is widely expected to have increased in July, from the 3.6% rate recorded in June, when the Office for National Statistics publishes its latest dataset on Wednesday. Sanjay Raja, senior economist for Deutsche Bank, said he was estimating that price pressures will have pushed CPI to 3.8% last month. 'July inflation will likely see price momentum rise further into uncomfortable territory,' he wrote in a research note. The school summer holidays are likely to have seen airfares, rail costs, and package holiday prices bumped higher. Mr Raja also pointed to a possible spike hotel prices which he said could partly be attributed to British band Oasis kicking off their reunion tour in July. The concerts brought in hoards of fans to arenas in Cardiff, Manchester, London and Edinburgh. Accommodation prices could rise by as much as 9% in July, compared with June, 'with the Oasis concerts having a strong impact on Manchester prices alone', the economist said. Meanwhile, food prices have been rising in recent months – partly driven by higher ingredients, labour, and regulatory costs. Annual food price inflation increased for the third month in a row in June, hitting the highest rate since February 2024. Mr Raja said food inflation is likely to have moved higher in July, but could be 'nearing the peak'. Andrew Goodwin, chief UK economist for Oxford Economics, forecast that CPI inflation will edge up to 3.7% in July. He said that an increase in fuel prices at the pumps could help push monthly inflation higher. The Bank of England is forecasting that inflation will increase further this year and peak at about 4% in September, before easing throughout the next two years. The central bank said accelerating food and energy prices have been key drivers in the uptick in inflation.
Sky News
2 minutes ago
- Sky News
Government will not offer bailout to UK's largest bioethanol plant
The UK's largest bioethanol plant is set for closure with the loss of 160 jobs after the government confirmed it would not offer a bailout deal to the facility in Lincolnshire. Owners Vivergo, a subsidiary of Associated British Foods, had warned that the plant would close without government support, and sources at the company have told Sky News the wind-down process is now likely to begin. ABF, which also owns Primark, has not formally confirmed its closure plans and is yet to comment. Vivergo have blamed the UK's trade deal with the United States, which ended a 19% tariff on imported ethanol, for making the plant unviable. Ethanol tariffs were cut along with those on beef as part of the UK-US deal, which focused on reducing or removing Donald Trump's import taxes on UK cars and aerospace parts. The plant, which converts wheat into the fuel typically added to petrol to reduce carbon emissions, was already losing £3m a month before the trade deal, with industrial energy prices, the highest among developed economies, cited as a major factor. Vivergo and ABF have warned of the threat to the plant since the spring, but had hoped negotiations with the government would lead to an improved offer by the end of the week. On Friday morning, they were told there would be no bailout. Government sources said they had employed external consultants to provide advice, and pointed out that the plant had not been profitable since 2011. A government spokesman said: "Direct funding would not provide value for the UK taxpayer or solve the long-term problems of the bioethanol industry." "This government will always take decisions in the national interest. That's why we negotiated a landmark deal with the US which protected hundreds of thousands of jobs in sectors like auto and aerospace. "We have worked closely with the companies since June to understand the financial challenges they have faced over the past decade, and have taken the difficult decision not to offer direct funding as it would not provide value for the taxpayer or solve the long-term problems the industry faces. "We recognise this is a difficult time for the workers and their families and we will work with trade unions, local partners and the companies to support them through this process. We also continue to work up proposals that ensure the resilience of our CO2 supply in the long-term in consultation with the sector."
The Sun
29 minutes ago
- The Sun
Farage slams ‘two-tier justice' as Labour councillor who urged crowd to ‘cut throats' of far-right protesters is CLEARED
THE decision to clear a Labour councillor who encouraged a crowd to cut the throats of protesters has been slammed by furious Nigel Farage as an "outrageous example of two-tier justice". Ricky Jones was filmed at the anti-racism demonstration in Walthamstow, East London, after the Southport murders last summer making a slashing gesture across his neck. 5 5 5 He branded far-right demonstrators as "disgusting Nazi fascists" and said "we need to cut their throats". But Jones has now been found not guilty of one count of encouraging violent disorder following just over 30 minutes of jury deliberation. Reform UK leader Mr Farage said: "This is another outrageous example of two-tier justice." While Zia Yusuf - head of Reform's Department of Government Efficiency - said: "The UK is now a country in which those who have the correct 'regime' political views can openly call for their political opponents to be brutally murdered, be filmed doing so, and face no criminal consequence. "A watershed moment in British politics." Former Tory Housing Secretary James Cleverly said in a post on X: "This unacceptable. Perverse decisions like this are adding to the anger that people feel and amplifying the belief that there isn't a dispassionate criminal justice system." Jones, 58, had attended the protest in August last year following the murders of Elsie Dot Stancombe, seven, Bebe King, six, and Alice da Silva Aguiar, nine, in Southport. The representative for Dartford, Kent, was told by his party to stay away but attended regardless before being suspended. During a court hearing today, prosecutor Ben Holt said: "Last summer, three young girls were killed at a dance-themed party in Southport. "There was some hysteria… Some of that grief manifested itself in anger, and regrettably, violence." Furious Farage blasts 'It's a national EMERGENCY' as Starmer reveals 'ridiculous' migrant deal The horror brought out counter-protests, one of which Jones decided to go to, the prosecutor explained. Mr Holt continued: "He attended in the face of considered advice not to do so. "During that event, he made a speech, amplified through a public address system, to the crowd. "He called the other side disgusting Nazi fascists. He said that their throats needed to be slit. "He drew his finger along his throat as he said that. "This, in a setting where, we suggest, violence could readily have been anticipated. "We ask rhetorically, what did Mr Jones think was going to happen?" Jones later told police his speech was a response to seeing stickers planted on trains by far-right group National Front. He claimed they contained concealed razor blades and included the words: "National Front Rights for Whites". The councillor also apologised for the comments but said they were not meant to be "taken literally". Following the video of his speech being shared, Jones received a message telling him he was "on BBC News". Jones was said to have appeared "satisfied" and told the contact: "I served". He also co-authored a declaration on behalf of Labour, that read: "There is no excuse for what we've seen. No possible justification. "This is mindless criminal thuggery, fuelled and perpetrated by the far right spreading their divisive, destructive ideas on the streets and on social media." The court heard Labour had sent out an "instructive" email referring to the Southport rallies taking place across the UK at the time. It told its councillors to "follow the clear advice" issued by police, which urged anyone "not to take part in, attend, or encourage others to attend any sort of demonstration or counter demonstration". But Jones alegedly chose to "ignore" the advice, with the video showing him making a "conscious" decision to take to the stage and ask an aide to film his speech. In his evidence, Jones described the mood in the crowd at the time as "happy and joyful". The father-of-four and grandfather also told the court he felt "horrified" after realising what he had said. "When I had time to view the footage after the demonstration, I was shocked at what I had actually said," he told jurors. 5
