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Thursday newspaper round-up: Airports, G7 tax plan, electric cars

Thu 10 June 2021 07:27 | A A A

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(Sharecast News) - The UK aviation sector has warned that airports are likely to lose at least £2.6bn this summer as the "chaotic" Covid traffic light system halts international travel. Airports said the coming months could deal a heavier financial blow than 2020, while airlines called for grants to offset the impact of travel restrictions and protect jobs. - Guardian

Britain will seek to exclude the City of London's financial services companies from a global tax overhaul targeting the world's most profitable businesses agreed between G7 finance ministers last weekend. The chancellor, Rishi Sunak, is concerned that under a version of the plan put forward by the US president - which involves redistributing the profits of the world's 100 largest businesses - digital businesses such as Google, Amazon and Facebook will be joined by banks that he says already pay a fair share of tax. - Guardian

Ministers are considering a radical plan to axe tariffs on hybrid and electric cars as part of efforts to speed up Boris Johnson's switch to a carbon-neutral economy. Officials are understood to be eyeing the plan as part of efforts to send a message that the country will champion free trade after Brexit and is committed to limiting climate change. - Telegraph

Britain will win a massive economic boost and thousands of businesses and workers will get their "mojo" back if lockdown freedom day goes ahead as planned on June 21, Andy Haldane, the Bank of England's chief economist, has said. Mr Haldane said that an end to the last of the Covid restrictions would be "fantastic" for growth as the country recovers from its deepest recession in centuries. - Telegraph

A private British company with ambitious plans to make electric flying taxis is close to agreeing to be taken over by a Wall Street blank cheque company in a deal valuing it at almost $2 billion. Bristol-based Vertical Aerospace is in advanced talks with Broadstone Acquisition Corp, according to Sky News, citing City sources, with a deal due to be announced as early as Thursday. - The Times

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