Sirius Bulletin - 20th June 2022
This bulletin provides a summary of topical news, announcements and policy developments affecting business across the UK.
Government strategy published
The Government has published a Food Strategy White Paper outlining priorities for food system policy changes on the biggest scale in a decade. The strategy has been criticised for not including an extension of free school meals in England, a salt and/or sugar tax and measures to scale-up plant based protein production and consumption.
Read more about the strategy at: www.edie.net/a-feeble-to-do-list-environmental-groups-and-agriculture-sector-react-to-uk-governments-food strategy
Costs soar by more than £2,000 in a decade
The cost of childcare has soared over the past decade and is now more than £2,000 a year higher than it was in 2010. Analysis by the Trades Union Congress found that the average annual nursery bill for a family with a child under two had increased by 44% from £4,992 in 2010 to £7,212 in 2021.
Read more about the rise at: www.theguardian.com/money/2022/jun/13/uk-childcare-costs-soar-by-more-than-2000-in-a-decade-tuc-says
Quarter of UK households buying second-hand goods
Nearly a quarter of UK households are using second-hand or resale marketplaces to deal with rising costs. This shift in customer behaviour is particularly prevalent among the 25- to 44-year-old and 18- to 24-year-old age brackets.
Read more at: www.retail-week.com/sustainability/quarter-of-uk-households-turn-to-second-hand-market-to-beat-cost-of living-crunch/7041906.article
Retailers developing own marketplaces
Retailers are developing their own marketplaces as research by OC&C Strategy Consultants reveals that the online marketplace model is expected to grow by 15% annually. The research predicts that by 2025 spending through marketplaces such as Amazon and eBay will overtake the majority of ecommerce outlets.
Read more about the report at: www.retailgazette.eo.uk/blog/2022/06/eight-retailers-launching-marketplaces/?
Medical cannabis eases chronic pain
Some orally ingested cannabis products can provide short-term relief from chronic pain, according to one of the largest-ever studies. Products with a high ratio oftetrahydrocannabinol (THC) to cannabidiol (CBD) offered the most dramatic pain reduction, but relief often comes with side effects including nausea, dizziness and drowsiness.
Read more about the study at: www.newscientist.com/article/2323087-medical-cannabis-eases-chronic-pain-but-only-if-it-has-very-high-thc/?
Misleading plant-based burger ad banned
A Tesco advert for a plant-based burger has been banned for making false claims about the product’s environmental benefits. The advert suggested that switching from a meat burger to Tesco’s Plant Chef product would positively affect the environment. The Advertising Standards Authority decided that Tesco’s claims could not be substantiated and therefore broke the rules.
Read more about the ruling at: www.fwi.eo.uk/news/asa-bans-misleading-tesco-plant-based-burger-ads
Homeowners renting out their driveways
Homeowners with an electric vehicle (EV) charge point on their driveway are renting out their driveways to other EV owners. As of April 2022, there were 30,290 public charging points in the UK. According to YourParkingSpace.co.uk there are currently 4,892 private EV spaces at 1,700 locations available on their platform.
Read more at: www.alphabet.com/en-gb/auto-digest/plugging-gap-homeowners-are-bolstering-uks-ev-infrastructure-renting out-their
Plug-in grant for cars to end
The Government has closed the plug-in car grant scheme which provided funding of up to £1,500 towards the cost of buying an electric car. The Government will now refocus funding towards public charging and supporting other road vehicles such as electric taxis, vans and trucks where the switch to electric requires further development.
Read more about the funding at: www.gov.uk/government/news/plug-in-grant-for-cars-to-end-as-focus-moves-to-improving-electric-vehicle charging
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