5 Things You Need To Know, Today, on Wednesday 17th May 2023
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5 Things You Need To Know, Today, on Wednesday 17th May 2023
1. One of the world's biggest carmakers has called on the government to renegotiate part of the Brexit deal or risk losing parts of its car industry.
Stellantis, which makes Vauxhall, Peugeot, Citroen and Fiat had committed to making electric vehicles in the UK but it has now said it is no longer able to meet Brexit trade rules on where parts are sourced.
2. The number of people struggling to pay their bills and debts has risen by nearly 40%, the UK's financial regulator has said.
The Financial Conduct Authority (FCA) said 10.9 million adults were struggling in this way in January - 3.1 million more people than in May 2022.
3. The Renters' (Reform) Bill will be published later - three-and-a-half years after the government was elected with a manifesto promise to stop the practice of "no-fault" evictions.
As well as ending no-fault evictions, the bill will seek to give people the legal right to request having a pet in their home. Landlords will have to consider these requests, and won't be able to unreasonably refuse.
4. The £2 cap on bus fares in England has been extended again until the end of October, the government has announced.
The cap, which applies to more than 130 bus operators outside of London, will then rise in November to £2.50 for 12 months, before prices are reviewed.
5. The owner of the largest pipeline system in the North Sea has warned the future of domestic production is in doubt due to the severity of UK windfall taxes.
Sir Jim Ratcliffe, Britain's richest man and whose Ineos business owns the Forties oil and gas pipeline, said the tax rate applied to North Sea output means industry investment is now only meaningfully flowing in the direction of the United States.
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