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    Budget will help inflation fall; Fuel prices stay at nine-month high; Vauxhall overhauls Astra

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    James Batchelor Policymakers at the Bank of England said they expect chancellor Rachel Reeves’ Budget to knock as much as 0.5 percentage points off inflation by next spring. Clare Lombardelli, deputy governor of the central bank, pointed towards the continued easing of inflation during a session with Parliament’s treasury committee. She said early analysis by the Bank indicated that measures aimed at household bills will help reduce the official inflation rate by between 0.4 and 0.5 percentage point from the second quarter of 2026. Fraud and error linked to financial support programmes during the coronavirus pandemic cost taxpayers £10.9bn, a report has found. The authors warned that only £1.8bn has been recovered and said ‘much of the shortfall is now beyond recovery’. The final report by the Covid counter fraud commissioner, Tom Hayhoe, found that many schemes, including Eat Out To Help Out and Bounce Back Loans, were rolled out quickly with significant risks. Vauxhall has revealed the updated Astra hatch and Sports Tourer estate range for 2026. The Astra now features Vauxhall’s new ‘Vizor’ front end with an illuminated logo, fresh alloy wheel designs and the firm’s ‘Intelli-Lux’ HD headlights, which feature more than 50,000 lighting elements, to improve visibility. The Astra Electric’s setup has been tweaked too, with the old car’s 54kWh battery replaced by a larger 58kWh unit that takes the claimed range from 260 miles to 282 miles on a single charge. Further details on UK pricing will be revealed later. The FTSE 100 struggled to make headway on Tuesday, pegged back by falls in retailers, with investors wary ahead of the US interest rate decision on Wednesday. The FTSE 100 index closed down just 3.08 points at 9,642.01. The FTSE 250 ended 12.16 points lower, 0.1%, at 21,909.12, and the Aim All-Share ended down 0.94 of a point, 0.1%, at 747.58. The pound was quoted slightly lower at 1.3311 dollars at the time of the London equities close on Tuesday, compared to 1.3319 dollars on Monday. Europe’s leaders must rehash how a major human rights treaty is interpreted in law to tackle illegal migration and prevent voters from turning to ‘the forces that seek to divide us’, Sir Keir Starmer has said. The prime minister and his Danish counterpart Mette Frederiksen have made a joint call on other leaders across the continent to agree a ‘modernisation’ of how the European Convention on Human Rights (ECHR) is interpreted in their countries’ laws. In an opinion piece for the Guardian newspaper, the two prime ministers advocated for a tougher approach to policing Europe’s borders as a means of winning against populist political opponents, and said they were ‘making this case across Europe’. The price of petrol at the pump has remained near a nine-month high despite wholesale prices sliding in recent weeks, the AA has said. The motoring and roadside assistance firm said wholesale petrol costs have fallen by around 5p a litre over the past three weeks, and the wholesale cost of diesel has tumbled by 7p per litre over the same period. However, it said official data found the average price of diesel at the pumps has only fallen by 0.1p per litre. The price of petrol averaged 137.5p per litre and it has remained at this price – which is the highest level since March – for the past eight days. A family-run VW dealership has ceased trading after collapsing into administration – leaving staff out of work just weeks before Christmas. Online marketplace Carwow is hoping to benefit from dealer discontent at Auto Trader, as retailers look to ‘distribute money across more partners’. Ford and Renault have signed a landmark partnership which will see the Blue Oval utilise the French firm’s Ampr EV platform. Dealer group Vertu has opened the doors to a flagship Skoda site in Nottingham after a major eight-week refurbishment. A cloudy day for Scotland with showery rain, heaviest in the north, reports BBC Weather. Elsewhere it’ll be mostly dry and bright, though a few western showers may linger. Windy in the north-west. Tonight turns dry and clear in the south, while northern areas stay cloudier; rain clears from northern Scotland and winds ease but remain breezy.
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