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5 Things You Need To Know, Today, on Monday 14th February 2022
5. The UK tax authority has seized three Non-Fungible Tokens (NFT) as part of a probe into a suspected VAT fraud involving 250 alleged fake companies.
HM Revenue and Customs (HMRC) said three people had been arrested on suspicion of attempting to defraud it of £1.4m.
4. British employers expect to raise staff pay by the most in at least nine years but the 3% wage deals for workers would still be below fast-rising inflation.
3. The Scottish and UK governments have agreed to establish two "green freeports" in Scotland.
Freeports are special economic zones offering tax breaks and lower tariffs for businesses - are being promoted by the UK government as part of its "levelling-up" agenda.
2. Big banks are pumping billions into new oil and gas production despite net zero pledges, campaigners have said.
Banks including HSBC, Barclays and Deutsche Bank are still backing new oil and gas despite being part of a green banking group.
1. The Bank of England is expected to raise rates again in March, according to economists and predictions suggest inflation is set to peak soon after.
Inflation is as seen peaking at 6.6% next quarter around treble the BoE's 2.0% target.