5 Things You Need To Know (18/7/17)
Please note this blog post was published over 12 months ago and so may not include the most up-to-date information, for example where regulation around investing has changed.
Welcome to our daily update, where we summarise the key talking points from the last 24 hours.
1. Inflation
Against all expectations, the Consumer Price Index fell to 2.6% in June, according to the Office for National Statistics. Fuel prices have now fallen for four months in a row, and economists are saying this could ease pressure on the Bank of England to raise interest rates.
2. New £10 notes
The new plastic £10 note has been unveiled by Bank of England governor Mark Carney at Winchester Cathedral.
The note, which follows the polymer £5, will be issued on 14 September, and has a portrait of Jane Austen on the 200th anniversary of the author’s death. It is also the first Bank of England note to include a tactile feature to help visually impaired people.
The note comes under a lot of controversy due to the material containing animal fat – causing concern for vegans and some religious groups. Upon the release of the polymer £5 note, over 100,000 people signed petitions not to renew the material, but the £10 note will still go ahead.
3. Brexit negotiations
The European Commission has said it has no problem with David Davis leaving EU negotiations early, after the Brexit Secretary was accused of “skulking” away.
Mr Davis left the latest round of talks with the bloc’s chief negotiator Michel Barnier after an hour-long meeting in Brussels on Monday. Talks had been scheduled to last until Thursday.
4. Theresa May calls for strength and unity
Theresa May has told her top team that the UK needs to show strength and unity as a country.
A number of briefings against the Chancellor of the Exchequer has suggested divisions at the top tiers of British Government.
May’s spokesman said ministers showed widespread agreement with the Prime Minister.
5. Trump defeated on healthcare
Two US Republican Senators have vowed to vote against Trump’s plans to repeal Barack Obama’s health care policy, sinking the President’s hopes of passing his proposal in the small majority chamber.
Trump tweeted after the vote : “We were let down by all of the Democrats and a few Republicans. Most Republicans were loyal, terrific & worked really hard. We will return!”
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