Young drivers lack basic car know-how
Young drivers fork out £140 million every year in car maintenance due to their lack of basic mechanical know-how, new research suggests.According to the study carried out by Direct Line, half of all drivers under 25 do not know how to jumpstart their car or replace a tyre, compared to 25 per cent of drivers aged 45 or over.Nearly one in three admitted to paying to have their oil changed, while 25 per cent also admitted to having their brake fluid checked.The findings come despite the DVLA introducing a car maintenance section to the practical driving test in September 2003.Some 37 per cent of 18 to 24 year olds who have passed this test still struggle when it comes to checking the level of their car's brake fluid."It's not unusual for drivers to feel a little helpless when it comes to car maintenance -however, it is important for drivers to be able to make basic safety checks on their vehicle, such as checking tyre pressure and oil level," Emma Holyer, Direct Line's motor spokesperson said."These checks are essential before embarking on a long journey and we are urging motorists to ensure they are able to conduct these simple tests rather than relying on parents or mechanics for help."Our research also shows that more than four in ten drivers have waited for their vehicle's annual service to fix some of these potentially serious problems. This should be avoided as it is important that all motorists are driving roadworthy vehicles," she added.Asking parents for help is still a popular and altogether cheaper alternative to paying out for professional know-how, with 62 per cent of all young drivers confessing to turning to their mums and dads for advice.
Lord Myners attacked by City leaders
Leaders of some of the U.K.'s largest banks, financial institutions and investment funds are now calling for Lord Myners, the UK government minister for the City, to become more active in pushing through his new proposals rather than lecturing the City on a daily basis. Those who follow the financial markets in the UK will be well aware that Lord Myners has issued many new initiatives, comments an...Read More
D2 Jeans announces move into administration
Today saw the first post-Christmas casualty in the UK retail sector when D2 Jeans, the company set up by Sir Tom Hunter, announced a collapse into administration. The company was acquired by a management team back in January 2008 although there have been concerns for some time about the company's rental arrangements which were considered to be relatively high and were causing financial difficultie...Read More
UK car manufacturers barred from direct Bank of England funding
It has been revealed that regulations currently in place are preventing the UK car industry from obtaining funding direct from the Bank of England. This little-known regulation could well scupper the eventual recovery of the sector even though the government announced a separate £2.3 billion package yesterday. As Toyota joined the list of car manufacturers in the UK looking to reduce their cost b...Read More
Are we set to see a revival of the Labour left?
Ken Livingstone has returned to the political arena with a suggestion that now is the time for a revival of the left-wing Labour Party. Livingstone has for some time been a thorn in the side of "new Labour" and it now appears as though he has spotted a potential niche in the political arena. Gordon Brown's firm embracement of capitalism in his early years in the Treasury has suddenly made way for...Read More
Is the UK credit card market anti-competitive?
As we continue to see the credit card market heavily criticised in the financial press for maintaining high rates as base rates continue to fall there is a concern that the historic competitive element of the UK credit card market has reduced of late. We have seen a number of major UK credit card companies either withdraw from the market completely or run down their operations and reduce the numbe...Read More