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5 Things You Need To Know, Today, on Thursday 6th January 2022
5. U.S. stocks slid on Wednesday after meeting minutes released by the Federal Reserve indicated that it might not only raise interest rates sooner than expected but could also reduce its overall asset holdings to tame high inflation.
Policymakers agreed to hasten the end of their pandemic-era program of bond purchases, and issued forecasts anticipating three quarter-percentage-point rate increases during 2022.
4. Sales of electric vehicles soared last year, but the market as a whole failed to recover from the Covid pandemic and an acute shortage of computer chips.
More electric cars were registered in 2021 than in the previous five years combined, according to the Society of Motor Manufacturers and Traders (SMMT).
3. The rules on testing are to be eased for people travelling to England, the government has announced, following calls from the travel industry.
From 4am on Friday, fully vaccinated travellers coming to England will no longer have to take a test before they travel.
2. The RAC has accused petrol retailers of ripping off motorists by £5m a day in December in refusing to pass on wholesale price cuts.
The motoring organisation said unleaded petrol fell by 2p a litre, but should have come down by 12p and estimated drivers were overcharged as retailers made an average of 16p a litre on petrol instead of the normal 6p.
1. Jacob Rees-Mogg has asked Rishi Sunak to reconsider impending tax rises as the chancellor and the prime minister came under sustained pressure from Conservative MPs to tackle rising costs of living.
Ministers are examining further targeted measures to mitigate soaring energy costs for vulnerable households including potentially extending the warm homes discount – but are set to reject a VAT cut.
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