The government’s smart meter rollout could prove to be a “costly failure”, the Commons energy and climate change committee warned in a damning report yesterday. The MPs called on the coalition to change its approach immediately and stop relying on energy suppliers to manage the installation of the energy meters in homes.
In 2006, Gordon Brown said all households would have meters that show how much gas and electricity is being used. The rollout was due to start this year, but has been pushed back to April 2016.
Footsie record high spurs profit-taking
The FTSE 100 retreated from a record high earlier this week, ending the week 35 points down at 6,912, as investors took profits.
Over a year, the index is up 1.8% (up 6.3% with dividends).
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Over three years, the index is up 19.9% (up 34.8% with dividends).
Over five years, the index has risen 23.4% (up 48.4% with dividends).
Over ten years, the rise is 37.2% (99% with dividends).
Pensioners risk a ducking
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“There is a very real risk that large amounts of money will drain out of the pension bath. One day, a couple of years from now, the government will be left sitting naked with nothing but a rubber duck to cover their modesty” — Tom McPhail, Hargreaves Lansdown