Money blog: Popular European country cracking down on holiday rentals such as Airbnb (2024)

Every Wednesday we ask top chefs to pick their favourite Cheap Eats where they live and when they cook at home.This week we speak to Israeli-born Eran Tibi, executive chef at Michelin-recommended Bala Baya, and Kapara, in London.

Hi Eran,can you tell us your favourite places in London where you can get a meal for two for less than £40?

One of my favourite place has to be Voodoo Rays(Dalston, London Fields and Peckham) - it serves New York-style pizza which you can't get anywhere. They have 22-inch pizzas - hello!

You're able to go in, pick slices of whatever pizza you want; they also do a great negroni. It's great value and the quality is fantastic and consistent, so it's a no brainer.

I also love Afghan Kitchen in Angel-it's cheap, cheerful, delicious and authentic. It's unique as not many people are familiar with Afghan cuisine; all the dishes are great value and it's a fantastic place to explore new dishes.

What is your go-to cheap eat to cook at home when you have a night in?

If I'm making something at home, I go to Ridley Road Market in Dalston to pick up my ingredients. Here you'll find the best produce for the most reasonable price.

The go-to for a cheap home cooked eat is roast beef with roasted seasonal vegetables and a slow braised bulgur wheat, covered with some dips (either fresh or from what's left in the fridge).

With dishes like this, the key is to always have a good pantry and look to the freezer; throughout the year, freeze seasonal vegetables and ingredients so when you need an easy and cheap dinner (even out of season), simply take them out and get cooking!

We've spoken to lots of top chefs - check out their cheap eats from around the country here...

We've seen Spain do it, along with France and the Netherlands, and now the Czech Republic has announced plans to crack down on holiday lets.

The Czech government has proposed new regulations that could limit the amount of Airbnb-style rentals available in popular cities such as Prague.

The proposals could cap the number of days a property can be rented out each year and require a minimum amount of space per guest.

Authorities could also be allowed to place more local taxes on the rentals.

Owners would be required to register their accommodation and guest details via an online platform.

They will then be given a registration number, which would have to be displayed on their listings.

The new system, if given the green light, will aim to bring down the cost of living for locals by freeing up accommodation and increasing tax revenues.

EuroNews said officials estimate that between 40% to 70% of online bookings are not reported, which could equate to €32m in unpaid taxes each year.

Labour is facing a drop-off in confidence among business leaders amid plans for tax rises and improvements to workers' rights, according to a survey.

The Institute of Directors noted a leap in optimism in July among its membership as the new government came to power.

But its latest economic confidence index showed a slump from a three-year-high, falling into negative territory in August.

Read more below...

The number of hospitality establishments across the UK has grown for the first time in two years - a sign of recovery for the industry.

Between March and June there were 462 new openings of pubs, restaurants, bars and hotels in the UK - an average of five per day - according to the Nationwide Caterers Association.

The organisation said casual dining establishments in particular have experienced growth in numbers for the first time since COVID.

"While there is still a way to go for the sector to return to pre-COVID heights, tangible growth in hospitality premises is clearly a positive development and hopefully a sign of more growth to come," the association said.

Aldi is in talks with the government over planning reform in a bid to speed up the opening of new stores.

The discount supermarket is offering investment to tackle "under-resourcing" across local authorities, which is currently leading the planning application process to take more than a year,Aldi UK's national real estate director George Brown wrote in LinkedIn.

Mr Brown said to "unlock" significant investment in the UK economy, the retail sector should be given more weight in the decision-making process to reflect the number of jobs it delivers.

Aldi said in February that it plans to open 500 more stores in 2024, which would also lead to the creation of 5,500 new jobs.

An "urgent review" into dynamic pricing has been launched as the backlash from the price of Oasis concert tickets continues.

The Competition and Markets Authority said it was looking into the ticketing market to make sure consumers were being treated fairly.

Oasis fans were disappointed at the weekend when tickets for their reunion tour more than doubled while on sale due to dynamic pricing systems.

Tickets shot up from £148 to £355 on Ticketmaster within hours of their release - and while fans were stuck in long online queues.

Dynamic pricing is common within industries beyond music - it's used frequently in the travel industry, with hotel rooms and airline tickets.

"The CMA is urgently reviewing recent developments in the ticketing market, including the way dynamic pricing is being used in the primary market," a CMA spokesperson said.

They noted that consumer protection law requires businesses to be fair and transparent in their dealings with consumers.

They are also required to give clear and accurate information about the price people have to pay.

"The CMA wants fans to get a fair deal when they buy tickets," they added.

"We have already acted against major resale websites on the secondary market to ensure consumer law is being followed.

"But we think more protections are needed for consumers here, and made recommendations to the previous government in 2021 about the changes that are needed."

The government has promised to look into dynamic ticket pricing, with Culture Secretary Lisa Nandy saying it would be reviewed in an upcoming consultation.

Female founders have been dealt a "blow" after Innovate UKdelivered just half the number of grants pledged in a funding competition for women business owners.

The Women in Innovation programme was aimed at encouraging women leading small to medium-sized businesses to apply for grants of up to £75,000 each.

The government-backed agency said it would be offering the grants to 50 female founders when it launched the competition earlier this year - but subsequently changed the wording to say "up to 50".

Only 25 ended up being chosen to receive funding, out of 1,452 applicants.

Dearbump and Femtech founder Emma Jarvis said in a LinkedIn post that the situation will have left many female entrepreneurs "pretty disheartened"

The posthas been shared more than 100 times and has garnered nearly 830 reactions.

"Innovate UK's decision is a blow not just to existing female founders but future ones," Ms Jarvis said. "It's really disappointing to hear that the number of awards was cut in half and that the wording was changed after the results were announced."

She said the "only way forward" was for Innovate UK to honour its original commitment of 50 awards.

Meanwhile, Patricia McGirr, Repossession Rescue founder, said female founders "deserve more than lip service".

She said Innovate UK's decision "isn't just trimming fat,it's cutting opportunity and ambition".

"This broken promise to the women fuelling our future is a step backward for innovation and a slap in the face to countless women who dare to lead."

And Debbie Porter, managing director at Destination Digital Marketing, said the move was "hard to believe".

"Innovate UK ought to go back over those 1,427 other applications as a matter of priority to fix this situation," she said.

In a statement to the Money blog, Innovate UK apologised and said its decision was a "mistake". It also said it would honour its original commitment to award 50 applicants with funding.

The added: "We recognise the impact this has had on the many applicants and on the community as a whole, and we apologise wholeheartedly.

"We confirm we will be funding a total of 50 awards."

Our Money blog reporter Jess Sharp spoke to women who areleading figures in their respective fields for our eight-part Women in Business series earlier this year. You can read some of their stories here...

Chancellor Rachel Reeves has refused to rule out heavier taxation on pensions in the October budget.

"I'm not going to speculate on what will be in the budget, but I'm absolutely determined to ensure that working people are better off," she told MPs in the House of Commons.

"This budget will be a budget to fix the foundations of the economy after the mess left by the previous government."

How could your pension be taxed further? Let's have a look at some of the possibilities...

Leading left-wing thinktank The Fabian Society said the government could raise at least £10bn a year by reducing pension tax relief for high earners.

At the moment, pension tax relief depends on an individual's tax band.

But Ms Reeves could create a single flat rate of tax relief for all tax bands, the society said.

"First, the rate of income tax relief should be equalised for people on all tax bands - for example at 30% of gross earnings, midway between the 20p and 40p rates of tax," the thinktank said in a report.

Ms Reeves could also reduce the maximum tax-free lump sumyou can get on retirement from £268,275 to £100,000 or 25% of pension wealth.

"The Institute for Fiscal Studies estimates that this might eventually save over £2bn per year, which would be targeted entirely at people with high lifetime earnings or assets," the report added.

Another suggestion was to charge national insurance on private pension incomes.

The organisation said it would lead to today's affluent pensioners making a higher tax contribution.

Other possibilities could be to levy income tax on all inherited pensions.

It said pension pots could also be liable to inheritance tax in the same way as other assets.

What else did the chancellor say today?

Away from refusing to rule out pension tax changes, Ms Reeves also confirmed a cap on corporation tax.

Speaking during Treasury questions, she said the tax would be capped at its current level of 25% to "give business the confidence to grow".

Corporation tax applies to the annual profits of UK resident companies and branches of overseas companies.

The 25% main rate is payable by companies with taxable profits above £250,000.

A small profits rate applies for companies with profits of £50,000 or below, meaning they will pay 19%.

Up until April 2023, the previous corporation tax main rate was 19%.

After the revivalof popular Cadbury's chocolate bar Top Deck earlier this year, we asked you which discontinued treat you would like to see brought back - and we got so many responses that we've decided to make a weekly feature of it calledBring It Back.

Every Tuesday, we'll pick one from our comments box and look at why it was so beloved and, crucially,find out whether the companies in question might consider reintroducing them.

This week we're looking at a chocolate bar that became a staple of lunch boxes in the 1980s and '90s - and spawned a TV advert that is among the most fondly remembered of the era: McVitie's Trio.

Sold in multipacks of six, each bar included three segments made up of a caramel layer over biscuit, all covered with milk chocolate.

The product became synonymous with a memorable commercial that featured an animation by artist Bob Godfrey and a play on the traditional Jamaican folk song "Day-O (The Banana Boat Song)".

Its lyrics, which will be familiar to almost anyone who grew up in the 1980s, included the bar's tagline: "I want a Trio and I want one now."

Having discontinued the product in 2003, it briefly returned to shop shelves in 2016 following a Facebook campaign, before vanishing from sale again shortly after.

Hordes of Sky News readers have called for the chocolate bar's revival.

Kellie said: "I'd love to have Trios back! They were yummy. McVitie's really need to start selling them again."

Derek told us: "What a chocolate bar the Trio was! I could eat an entire multipack in one sitting now if given the chance. And that old advert... instantly transported back to childhood just thinking about it."

Samantha said: "I can hear the jingle in my head now! Trios were just delicious chocolate bars... and we want one now!"

When asked by Sky News, a McVitie's spokesperson conspicuously declined to rule out a return for the iconic chocolate treat, saying the company was "constantly listening to what audiences want".

"This helps us to keep innovating and adapting to changing tastes, meaning more biscuits and snacks you love for generations to come," they said.

"For those who miss the caramel taste of Trio, one of our newest and most exciting innovations, McVitie's Gold Billions Wafer, will be your new favourite for on-the-go chocolate moments."

And, tantalisingly for fans of the bar, they added: "Watch this space for more to come..."

Along with the legions of Trio diehards, the Money blog will certainly be doing that - and hope to bring you news of further developments in the crusade in the near future.

Got a craving for any of the products below? Click the links to find out if they've got any chance at making a comeback...

NatWest has launched the cheapest five-year fixed mortgage deal on the market.

The 3.71% rate comes with a £1,495 product fee and is available to customers who have a 40% deposit.

Other lenders have also announced cuts this week, including Barclays and Halifax.

Yesterday, Barclays reduced its five-year fixed 60% LTV remortgage deal from 4.06% to 3.93%.

It also announced cuts across its purchase product range, with a five-year fixed 75% LTV deal coming with a 3.95% rate and a £899 product fee.

Halifax also launched a 3.81% five-year deal to new borrowers yesterday.

Brokers have welcomed the cuts as "hugely positive" news, and suggested more lenders could follow suit.

"NatWest's latest rate cut is another clear signal that mortgage lenders are pulling out all the stops to reignite the housing market," Ranald Mitchell, director of Charwin Mortgages, told Newspage.

"This flurry of rate reductions is a positive step towards finding that sweet spot where consumer confidence rebounds, and the property market gets back on track.

"It's an exciting time for potential buyers, affordability is improving, and the window of opportunity is wide open."

Justin Moy, the managing director at EHF Mortgages, said: "Lenders are looking to grab some market share by the end of the year.

"Other lenders will likely want to make a similar move over the coming days to remain competitive."

By James Sillars, business reporter

It's a fairly muted start to the day's trading, again, on financial markets.

The FTSE 100 has opened 10 points higher at 8,373.

Rolls-Royce, the civil aerospace-to-defence firm (not to be confused with the luxury motor car manufacturer), is leading the gainers.

Its shares rallied by 4% early this morning after a 6.5% decline the previous day.

That tumbled was in reaction to the apparent mid-air failure of one of its engines on a Cathay Pacific flight.

Analysts said that the share price recovery was down to an update from the airline that the fleet affected should be back to full operation by the weekend.

A tweet Liam Gallagher wrote seven years ago criticising the eye-watering price of gig tickets has come back to haunt him.

His message, written in September 2017 about his older brother Noel, who was touring America with his band High Flying Birds at the time, read: "350 dollars to go and see rkid in USA what a c*** when will it all stop as you were LG x"

The tweet has resurfaced after dynamic pricing for Oasis's much-hyped reunion next year left fans - many of whom had spent hours queueing online - stunned after some standard tickets more than doubled in price from £148 to £355 on Ticketmaster due to demand.

X users pointed out the irony upon seeing the 2017 tweet, posting comments including, "Well this is evergreen", "What's your excuse for charging over 368 quid then?" and "Not ageing well, Liam".

Tap here to follow the Daily podcast - 20 minutes on the biggest stories every day

Using a phrase Liam adopts in his own social media comments, another fan wrote simply "BIBLICAL".

Hundreds of people have complained to the Advertising Standards Authority (ASA) over "misleading claims about availability and pricing".

In response, Sir Keir Starmer has said the government will get a "grip" on the issue of surge pricing, with Culture Secretary Lisa Nandy promising a consultation over the transparency and use of dynamic pricing, and the technology around queuing systems, to ensure fans don't get ripped off.

Yesterday we revealed that official reseller Twickets had lowered its fees after criticism from Oasis fans.

Scroll through today's Money blog for: Cheapest dates to go on holiday this year (6.42 post); how do you get free school meals (7.58 post); pay-per-mile tax proposed (7.38 post)