Sunday News Summary

Personal finance:

Extras go sky high on budget airlines as new prices take off for the summer, Melanie Wright reports holidaymakers flying abroad with budget airlines face much higher costs than last year for “extra services” such as baggage and travelling with babies. While fees for using a credit card to book flights have fallen airlines are finding plenty of other ways to claw back revenue, raking in a total of £17.3 billion in extra charges and fees last year worldwide.

Economics:

Every job in Britain’s wind farm industry is effectively subsidised to the extent of £100,000 per year, The Sunday Telegraph reports. A new analysis of government and industry figures shows that wind turbine owners receive £1.2 billion in the form of a consumer subsidy, paid by a supplement on electricity bills last year. The level of support from subsidies in some cases is so high that jobs are effectively supported to the extent of £1.3 million each.

Recruitment:

Britain’s economy is set to grow at its fastest pace since 2010 amid renewed optimism about the recovery. Confidence among small businesses has risen to its highest level in three years with more small firms planning to take on staff over the next three months than previously, The Federation of Small Businesses reports. The Budget’s Employer’s Allowance scheme should free up funds and allowing more firms to invest in new recruits next year.

 Property:

Lured by a weak pound British expats are snapping up houses back here for their eventual return as the property market outside of London and the southeast continues to flounder. Keen to take advantage of the weak pound and lower prices, British expats are flying in, cash in hand, on house-purchasing jaunts. These aren’t the high-net-worth foreigners buying up prime central London, but ordinary British people who work abroad who had always intended to return home, but enticed by bargains to play their hand earlier than planned.  Expats are said to make up 10-15% of the country-house market in the southwest.

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