Elvira Nabiullina, governor of Russia's central bank, has raised interest rates to 21%, igniting criticism from powerful oligarchs like Sergei Chemezov, who fears it could harm industrial growth and lead to stagflation.

In Essex, the county council is set to debate a Conservative proposal to use Vehicle Excise Duty revenue solely for local road maintenance. This move aims to ensure rising car tax rates benefit local infrastructure directly. However, the Treasury has dismissed the idea, asserting that VED funds support nationwide public services, not just local needs. Significant changes to VED bands are also forthcoming in April 2025, which will raise costs for many drivers, especially those with luxury vehicles.

The Digest, 12/7/2024 @230AM, CDT

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