UK news
fromwww.independent.co.uk
1 hour agoCost of pint to rise under new alcohol duty changes
Alcohol duty rose 3.66% to match RPI, prompting industry warnings that businesses will likely raise consumer prices.
London Mayor Sadiq Khan has confirmed that tube fares will be going up significantly next year. The increase of almost six percent is the result of an official order from the government that told TfL it should increase prices by the RPI rate of inflation plus one percent every year until 2030, in order to receive a £2.2 billion boost.
The deal, with an initial 3.4% increase backdated to this April, means London Underground staff pay will rise in line with RPI inflation higher than the CPI rate normally used for index-linked pay rises with guaranteed minimum rates if inflation falls, making the total deal worth at least 9.2%. The RMT said it would seek similar increases across the transport sector, ascribing its success to a week of strikes two months ago that caused widespread disruption in the capital.