Breaking AI & Tech News Analyzed

New research from the Institute for Fiscal Studies (IFS) shows that the Help to Buy mortgage initiatives launched by the Conservative‑Lib Dem coalition in 2013 mainly benefited higher‑income households, rather than the intended first‑time, lower‑income buyers.The policy comprised two components: a taxpayer‑backed loan that reduced required deposits, and a mortgage guarantee scheme that covered part of lenders’ losses on high loan‑to‑value mortgages. Both applied to properties priced up to £600,000 and, by the 2014‑15 fiscal year, accounted for roughly one‑fifth of first‑time buyer transactions.Using a novel methodology that combined survey responses with local property price data, the IFS concluded that the bulk of the advantage accrued to wealthier purchasers—particularly those outside London and the south‑east, where homes are comparatively cheaper. These buyers were likely to secure a property eventually, even without the scheme.Bee Boileau, a research economist at the IFS and co‑author of the briefing, warned that while Help to Buy can theoretically assist newcomers onto the housing ladder, it also risks inflating prices and shifting loan risk onto the public sector. “Our research indicates that the Help to Buy schemes introduced in 2013 had the largest impact – in terms of making more homes affordable – on higher‑income households,” she said.The study notes that the mortgage guarantee scheme had “limited effects on affordability” because borrowers remained constrained by income‑based borrowing caps. Conversely, the loan scheme proved more influential for most households, yet its impact was muted by its restriction to new‑build properties.Both components appear to have had little effect on social mobility. Boileau suggested that future governments aiming to reduce inequality should target assistance at lower‑income families, acknowledging that such a shift would increase taxpayer exposure to loan risk.Critics have long argued that Help to Buy inflated house prices without expanding supply. A 2022 House of Lords built‑environment committee report echoed this view, recommending that funds be redirected toward increasing housing construction.The mortgage guarantee element was revived in 2021 and made permanent by the Labour government last year to preserve access to 95% mortgages. In response, Conservative housing secretary James Cleverly defended the legacy schemes, claiming they enabled “many thousands of people” to achieve homeownership, even as he warned that Labour policies were making the market harder for first‑time buyers.

In 2020, several nations—including the UK and India—announced ambitious bans on new internal‑combustion‑engine vehicles, while Norway already saw around 60% of new car sales being electric. Australia, however, remained on a different trajectory. Former Prime Minister Scott Morrison dismissed a Labor proposal for a non‑binding 50% electric‑vehicle target by 2030, claiming it would “end the weekend.” The Coalition ignored analyses suggesting that a robust emissions‑cut scheme could deliver a $14 billion net benefit by 2040, and later abandoned plans for an EV‑specific strategy. Five years on, the Albanese government has introduced a vehicle‑efficiency standard mandating annual reductions in average emissions from new cars. Though a long‑awaited move, the policy’s impact will be incremental rather than transformative. March saw a record number of Australians purchasing EVs, yet the market share remains modest—still under 15% of new car sales, up only slightly from 13% in 2025. With fuel prices soaring amid the Iran conflict, the majority of vehicles leaving showrooms are still powered by petrol or diesel, and many will stay on the road for the next 15‑20 years. One bright spot is the surge in second‑hand EV sales, which more than doubled last month despite a tiny baseline. Higher resale values are encouraging broader adoption by making electric cars financially accessible to a larger pool of buyers. Globally, electric vehicles accounted for roughly 25% of new car sales last year. In Australia, the price differential between comparable petrol and electric models averages around 20%, a significant barrier for many consumers. That gap is narrowing, and the potential savings for EV drivers are substantial. Data from energy analyst Simon Holmes à Court—using Amber electricity retailer figures—show that an EV can travel over 40 km per $1 of energy, whereas a conventional car manages less than 5 km per $1 of fuel. Amber’s own smart‑charging platform suggests the distance could reach 160 km per $1 under optimal conditions. Despite such evidence, Australian political discourse often struggles to envision a low‑fossil‑fuel future. Calls for expanded oil exploration, such as Queensland Premier David Crisafulli’s claim of a “sea of oil” in the Taroom trough, lack substantiation and would likely involve costly, long‑term development with uncertain returns. Compounding the issue, the mining sector—Australia’s biggest diesel consumer—receives a 52‑cent‑per‑litre rebate under a national fuel‑tax credit scheme, effectively subsidising over $1 billion annually for diesel use in coal mines. This incentive discourages investment in cleaner truck technologies, even as the safeguard mechanism attempts to curb emissions. Policy recommendations include tightening the vehicle‑efficiency standard to accelerate the shift toward cleaner cars, removing parallel‑import restrictions to boost the supply of affordable second‑hand EVs (as practiced in New Zealand), and reconsidering any road‑user charges on electric vehicles, which currently represent less than 2% of the total fleet. International examples offer guidance: China jump‑started its EV boom by issuing “green” licence plates and imposing hefty fees for fossil‑fuel plates, effectively raising the cost of owning a petrol car by up to $20,000. In sum, Australia’s delayed embrace of electric mobility not only hampers climate goals but also forfeits billions in economic gains. A decisive, well‑targeted policy overhaul could unlock significant consumer savings, reduce emissions, and align the nation with global EV trends.

Eamonn Holmes, the 66‑year‑old presenter of GB News’s breakfast programme, is recovering in hospital after suffering a stroke last week.A GB News spokesperson confirmed that the Northern Irish broadcaster is responding well to treatment and has requested privacy while focusing on his recovery. The network added that “his colleagues and everyone at GB News wish him a speedy recovery and look forward to welcoming him back when he is ready.”In Holmes’s absence, the channel said that Alex Armstrong will co‑anchor the morning slot alongside Ellie Costello for the coming week.Holmes, who previously fronted ITV’s This Morning and co‑presented with his former wife Ruth Langsford for 14 years, has a documented history of serious health issues. He has undergone spinal surgery, a double hip replacement, and endured multiple falls, including a live on‑air incident when a studio chair collapsed.Speaking about that on‑air fall, Holmes recalled, “It was a bit of a shock for me because I’d had a fall in my bathroom two weeks earlier that hospitalised me, and it hit me again right in the back.” He described the aftermath as “really, really sore.”His health struggles have also impacted his personal life. In 2022, Holmes told the Sun that chronic pain and mobility problems strained his marriage to Langsford, and he later disclosed a dislocated pelvis in 2021 that led to three slipped discs.Holmes is now in a relationship with 44‑year‑old counsellor Katie Alexander. The pair were photographed together at a recent event, with Holmes using a wheelchair.GB News chief executive Angelos Frangopoulos expressed support, stating, “Eamonn is a loved member of the GB News family, and we’re with him every step of the way as he recovers.”

The current global landscape is marked by uncertainty, with Donald Trump's policies contributing to a sense of instability. As the world grapples with the implications of the Iran war, including a potential global shortage of jet fuel, the UK is reevaluating its relationships. Keir Starmer, leader of the Labour Party, has argued that a closer partnership with Europe is in Britain's national interest. This stance is echoed by Rachel Reeves, highlighting the need for the UK to strengthen its ties with the EU to mitigate the risks of a global economic crisis. The article notes that 63% of Britons would vote to rejoin the EU if a referendum were held today, according to recent YouGov polling. This sentiment is reflected in the growing popularity of a youth mobility scheme that would allow young people to work and study abroad, a proposal that has gained traction even among Leave voters. Starmer's ally, Nick Thomas-Symonds, has been negotiating a deal that would align with EU rules on food and drink, potentially leading to the relabelling of certain products like marmalade. While challenges remain, including competitive trade interests, the article suggests that Europe is choosing unity in the face of crisis. The author, Gaby Hinsliff, argues that Britain has learned from its past mistakes and is now seeking to build a new relationship with the EU at speed. While rejoining the EU is not imminent, the will and political courage are needed to seize this second chance.

Police in Wuhan reported a sudden "system malfunction" that immobilised several autonomous robotaxis operated by Baidu’s Apollo Go service, leaving passengers stuck on an elevated highway for up to an hour and a half.Local authorities said they received a flood of calls on Tuesday night from riders whose vehicles froze in the middle of the road. A police statement confirmed that “multiple Apollo Go cars stopped in the middle of the road, unable to move,” and preliminary investigations point to a technical failure.Baidu maintains a fleet of more than 500 driverless cars in Wuhan, though the exact number affected was not disclosed. One commuter shared a 90‑minute ordeal on the Chinese platform RedNote, describing how the vehicle stalled at 9 p.m. on an overpass, surrounded by dump trucks, while customer‑service lines remained unanswered.The rider eventually was rescued after the order was cancelled at 10:30 p.m., but criticized Apollo Go’s support team for offering “useless platitudes” instead of concrete solutions. Social‑media users also posted videos captioned “Apollo Go, are you paralysed?” showing futile attempts to contact the company via the in‑car tablet.This is not Baidu’s first controversy. In December, authorities in Zhuzhou halted robotaxi operations after a Baidu‑manufactured autonomous vehicle struck two pedestrians, sending them to intensive care.Despite these setbacks, Baidu’s autonomous‑mobility arm continues to grow. Company filings reveal that Apollo Go delivered 3.4 million driverless rides in the fourth quarter of 2025, a jump of over 200 % compared with the same period in 2024. The firm is also pursuing international expansion, having announced partnership deals with rideshare giants Lyft and Uber to deploy its vehicles on their platforms.When approached for comment, Baidu did not respond, according to Reuters.Additional reporting by Yu‑chen Li

The impending retirement of millions of small business owners, primarily from the baby boomer generation, poses a significant challenge for the US economy. According to the Small Business Administration, there are approximately 33 million small businesses in the US, but fewer than 7 million employ people. The rest are often solo operations or side gigs with little to no value if the owner were to suddenly disappear. Many small business owners, like the author, operate in a service-based economy, which accounts for 77% of US GDP. These businesses are often built around the owner, with no hard assets to sell, making them unattractive to potential buyers. The author's own business is a prime example, with no valuable assets, a virtual office, and remote employees. A recent McKinsey report predicts a "great ownership transfer" over the next 10 years, with as many as 6 million small and midsize American businesses changing hands. However, without intentional action, many viable small businesses may close rather than transfer ownership. So, what are the options for these business owners? They could hand down the business to their kids, but this only works if the kids are interested and capable. Another option is to build an actual business with value by changing billing models, enforcing contracts, and creating a sustainable brand. However, this approach can be exhausting, especially for older business owners. A more practical approach for service business owners is to build cash and save for retirement. The author has been pulling profits out of their company and saving, planning for retirement through their savings rather than their business. This transition presents a great opportunity for younger entrepreneurs, who could partner with or purchase businesses from older owners, leveraging their existing operations, customers, and relationships to make improvements and grow the business.

The concept of a uniform consumer experience, once a hallmark of American equality, is rapidly eroding. Andy Warhol's 1975 observation that the richest and poorest consumers could buy the same products is no longer true. Today, many everyday experiences and products are being segmented into multiple tiers, often with significant price differences.The airline industry is a prime example of this trend. What was once a standard experience, including free checked bags and snacks, is now often subject to additional fees. This model is spreading to other sectors, such as cinemas, where AMC Theatres is introducing tiered seating with priority access for loyalty program members.The trend doesn't stop there. Ski resorts and Disney World are also implementing paid 'fast-track' options to skip lines, while the healthcare sector is seeing a rise in 'concierge medicine' with membership fees as high as $50,000 a year. These developments are widening the gap between those who can afford premium experiences and those who cannot.The author, Arwa Mahdawi, argues that this trend is part of a broader shift where corporate greed is making everyday life more expensive and less accessible to the masses. As a result, people are opting to stay home rather than pay high prices for experiences that were once affordable.This shift towards premiumization raises questions about the impact on society and the economy. While it may benefit corporations and shareholders, it risks exacerbating existing inequalities and reducing social mobility.

The world of ballet has long been associated with a specific physical ideal, particularly when it comes to foot shape. However, dancers with flat feet are proving that this condition is not a barrier to success. For Claudia Efemini, picking up her ballet shoes again after six years was a bittersweet experience. While she was excited to revisit a childhood hobby, she was also disheartened by the memory of being discouraged from pursuing ballet due to her flat feet.The industry's obsession with 'perfect' feet, characterized by high arches, has led some dancers to use fake arches, or farches, to create the illusion of more flexible feet. However, flat-footed dancers like Alex Maureen and Ruth Essel are thriving in the ballet world. Maureen, a performer and dance instructor at New York University, and Essel, founder of Pointe Black, a London-based ballet school, reject the notion that flat feet are an obstacle to success.Research shows that Black people are more prone to having flat feet, but Essel and Maureen's experiences demonstrate that this condition does not predetermine one's potential in ballet. Through education and self-advocacy, they have overcome discouraging beliefs about their feet and developed strategies to work with their body types. Essel, with a background in psychology, learned about anatomy and exercises to strengthen her ankles and improve foot mobility.Injury prevention is crucial for flat-footed dancers, who tend to land on their heels. Maureen and Essel stress the importance of educators adapting to different body types and seeking specialist advice when needed. They also highlight the need for greater diversity in ballet, including more Black pointe shoe fitters and physiotherapists.Maureen and Essel have developed checklists for their students before they start using pointe shoes, ensuring a comfortable and supportive fit. As Maureen advises, 'You just need your shoe to work for you, not against you.' For aspiring ballerinas with flat feet, Maureen's words of encouragement are 'Give yourself grace. Be kind to yourself.'