Money blog: Fines for parents taking children out of school to increase next month (2024)

The Dartford Crossing is the highest-earning toll road in the UK, new data shows.

The Kent to Essex route raked in £215.9m in the last year - 2,159 times more than the Whitney toll bridge in Hereford.

The crossing, which was supposed to stop charging customers in 2003, costs between £2 and £6 to use (depending on the vehicle you're driving) between 10am and 6pm every day.

Car finance company Moneybarn found it earned just over £209m in 2022.

It topped the chart of 13 toll roads in the country, making over £100m more than the second highest-earning road in 2023- the M6 Toll in the West Midlands.

In third place was the Mersey Gateway Bridge between Halton and Cheshire, which made £48.9m.

You can see how the other toll roads fared below...

Fines for parents who take their children out of school will increase this upcoming term as the government continues with plans to improve attendance.

From next week, fines for unauthorised absences will go up by as much as £40.

Under the new system, the cost of a penalty charge notice will rise from £60 to £80 if paid within 21 days, and from £120 to £160 if paid within 28 days.

This marks the first increases since the system was introduced in 2013.

So, when do parents get fined?

Children are only allowed to miss school if they are unwell, or they have been given permission from the school in advance.

Parents can make an absence request to take their children out of school, but there needs to be "exceptional circ*mstances" and the headteacher needs to authorise it.

Currently, it's the responsibility of the local authority to decide when to issue fines, meaning the process varies from council to council.

But, under the new rules which were created by the Conservative government, all schools will be required to consider a fine when a child has missed at least five days of school for unauthorised reasons.

What happens if you keep getting fined?

If a parent receives a second fine for the same child within any three-year period, this will be charged at the higher rate of £160.

A parent can only receive two fines within any three-year period, and once this has been met, other actions can be considered.

This includes a parenting order or prosecution.

Parents who are prosecuted and attend court because their child hasn't been attending school, can get fined up to £2,500.

Where is the money spent?

Government guidance states any money collected from fines should be used by the local authority to cover the costs of administering the system.

Any surplus after that should be spent on "attendance support".

Any cash remaining at the end of the year must be paid to the education secretary.

A Department for Education spokesperson said: "High and rising school standards are at the heart of our mission to break down barriers to opportunity and give every child the best start in life. Strong foundations of learning are grounded in attendance in the classroom.

"Tackling the root causes of absence is a major priority for the government.

"Our support-first approach outlined in our guidance is designed to help parents to meet their responsibility to ensure their child attends school.

"However, in some cases, including term-time holidays, it may be necessary to issue penalty notices."

Every Friday we take an overview of the mortgage market, speaking to those in the industry before getting a round-up of the best rates courtesy of the independent experts atMoneyfactscompare.co.uk.

Over recent months and years, the release of monthly inflation data has had a big impact on forecasts for interest rate cuts - but not this week.

Following a slight uptick in inflation to 2.2% in July, announced on Wednesday, markets were pretty unmoved at pricing in a 63% chance of a base rate cut next Monday.

Investors still think there will be two further cuts this year, bringing the base rate down to 4.5% by Christmas.

On the high street, rate cuts we've mentioned for a month or two now continued this week, with the lowest five-year fixed available now 4.83% - with NatWest, Barclays and Nationwide all settling there for now.

Moneyfacts finance expert Rachel Springall said: "Nationwide Building Society was one of many mutuals to cut fixed rates this week - it now offers a five-year fixed as low as 3.83%. NatWest also cut rates by up to 0.20% and Virgin Money made similar reductions."

Looking specifically at home movers, Springall has some data that shows the difference between now and this point five years ago.

"Home movers who want to lock into a longer-term fixed mortgage will find the average overall five-year fixed rate is much higher than it was back in August 2019, which was 2.84%. Week on week, the overall average two-year and five-year fixed rate mortgage fell to 5.66% and 5.29% respectively."

Away from rate changes from some of the big lenders, one of the most telling insights into the mortgage market this week came with statistics about the average shelf-life of mortgage products.

Springall said: "The volatility within the mortgage market was made clear by the notable drop in the average shelf-life of a mortgage to just 17 days, down from 30 in June.

"There are expectations for rates to fall further in the weeks to come, particularly as the market reflects on the 0.25% base rate cut, the first cut in over four years."

Here's a look at the look at the best rates currently on offer for house purchases...

Moneyfacts also looks at what it calls "best buys" - which considers not just the rate, but other costs and incentives. These are their top picks this week...

British pubs are in trouble, with more of them closing every year.

Once the beloved watering holes for many communities, they have fallen victim to higher costs, changing habits and "the real estate incentive".

Some 239 pubs closed in England and Wales during the first three months of the year, according to government figures – 56% more than in the same period in 2023.

Our Money reporter Brad Young has been exploring whether this is the end of the British pub as we know it.

Earlier this week, he spoke to communities and experts about the reasons behind recent closures - you can read his piece here.

In the video below, Brad explains three reasons why pubs are struggling.

Amazon has been cleared for take-off with the testing of new drone delivery in the UK.

Amazon Prime Air already offers drone deliveries in the US with drones able to fly 12km from their fulfilment centres.

But the service could now come to the UK, with Amazon hoping to launch it by the end of the year. It has ambitions of delivering small packages within an hour of an order being placed.

The online retailer is one of six organisations taking part in a new trial from the Civil Aviation Authority (CAA) - with other projects including using drones to inspect offshore windfarms, for policing and delivering medical supplies.

The trials will gather safety data and look at how drones can detect and avoid other aircraft while up in the air.

"Our goal is to make drone operations beyond visual line of sight a safe and everyday reality, contributing to the modernisation of UK airspace and the incorporation of new technology into our skies," said Sophie O'Sullivan, from the CAA.

Octopus Energy is launching "free electricity sessions" for its customers when wholesale prices plummet.

Starting from today, those who are signed up to the "Octoplus" rewards scheme can take part.

The one-hour-long sessions will be available whenever the wholesale electricity price hits zero or goes into negative figures, the energy firm said.

Rebecca Dibb-Simkin, chief product officer at Octopus Energy, said:"Free electricity sounds like it's too good to be true but it's real.

"By using more when there is plenty of renewable energy instead of when the grid is dirty, our customers can save money while making the grid greener and more efficient. It's a win-win for our customers and the planet."

How does it work?

Those who have signed up for the free electricity will be notified the day before the session will take place.

On its website, the company said the free period will generally be between 1pm to 2pm.

During that time, customers can use as much electricity as they want, with all the power used above their typical usage not costing anything.

Within a week, customers will receive an email telling them how much extra power they used, and within two weeks, they will see that amount paid into their account as bill credit.

How many sessions will there be?

There are no set amount of sessions planned to take place as they are based on dips in the market, which is changing all the time.

However, Octopus Energy has said it is hoping for at least two or three before winter.

In the last year, it said there had been 14 days when electricity prices dropped below £0 due to excess renewable energy being generated.

"During these times, wind farms are often paid to shut down to prevent grid overload, meaning valuable green electrons go to waste," it added.

"By powering up during these periods, households can maximise green energy availability - making the system more efficient and lowering system costs for all."

It's important to know that you must have a working electric smart meter in order to take part.

You can read all the terms and conditions here...

Drivers are being told to avoid scanning QR codes to pay for parking in light of a spate of scams.

Motorists should only make payments with cash, cards or using official apps, the RAC has warned.

It comes after fraudsters placed stickers with fake QR codes on parking signs in Barking and Dagenham, Northumberland, Northamptonshire, South Tyneside and Pembrokeshire (among others).

When drivers scan the codes, they are taken to a scam website where they are asked to enter their card details, which the criminals use to take money from their accounts.

"As if this scam isn't nasty enough, it can also lead to drivers being caught out twice if they don’t realise they haven't paid for parking and end up getting a hefty fine from the council," says RAC head of policy Simon Williams.

And depending on where you are in the UK, that fine can be anything from £50 to £300.

Thousands of prosecutions for alleged fare evasion are set to be declared void after a judge ruled they were wrongly made.

It means people who previously paid fines for fare evasion could be due a refund, with a team being set up by the end of November to identify everyone unlawfully prosecuted.

Four train companies including Northern Rail and Greater Anglia brought prosecutions against thousands of passengers using the single justice procedure (SJP) - despite not being permitted to do so.

The SJP was set up in 2015 to allow magistrates to decide on minor offences, such as using a television without a licence or driving without car insurance, without defendants going to court.

But concerns have been raised that cases are being brought before magistrates without prosecutors, or without any mitigation being taken into account.

Rail companies were permitted to use the SJP in 2016 to prosecute privately fare evaders, but the Evening Standard reported that several of these cases were brought under the Regulation of Railways Act 1889, which is not allowed under the procedure.

Chief Magistrate Paul Goldspring told Westminster Magistrates' Court in June that thousands of prosecutions were "probably unlawful".

The exact number of those affected is currently unknown, with a previous hearing told around 75,000 people could have been prosecuted for fare evasion offences under the SJP.

Northern Rail, just one of the companies involved, said it apologised for the errors involved.

Greater Anglia also said it acknowledged "a series of significant errors" had occurred.

Locals in a trendy London neighbourhood have signed a petition against Gail's bakery setting up shop in their area.

After (unconfirmed) rumours began circulating that the chain was looking to open a site in Walthamstow village, more than 600 have signed a petition opposing the plans.

The petition, which features a cross made out of two baguettes over the company logo, says the village "faces a threat to its uniqueness" should Gail's move into the area.

"Gail's, although respected for their quality, bring a risk of overshadowing our much-loved local stores due to their massive scale and advertising reach," it continues.

"This could lead to decreased visibility and pedestrian traffic towards independently run businesses, threatening their very existence and dismantling the character and diversity crucial to Walthamstow's charm."

Local business owners have also said they oppose the plans because of the pro-Brexit and anti-lockdown views of Luke Johnson, the company’s minority investor.

Adrian Spurdon, a barista at an independent coffee shop, said Mr Johnson's views clashed with the politics of Walthamstow.

He told The Times: "We've just had this big, diverse counter-protest to protect Walthamstow from the far-right and I doubt Luke Johnson would support that.

"He is very different to the people here. His views are not the same."

The opening of a Gail's - where a regular latte will set you back £4.10 - has become a mark of prosperity in the area.

Liberal Democrat leader Ed Davey said the party looked at where the bakery chain had opened as an indicator of constituencies that could turn yellow, while the Princess of Wales, Kate Middleton is known to be partial to their chocolate brownie finger.

A spokesman for Gail's said: "We understand the concern around chains, but our view is that a healthy high street is one with a diversity of quality offers, each delivering their best.

"High streets evolve over time and we open our small bakeries often in closed banks or stranded restaurants.

"All of our bakeries exist in areas where the choices are wide and growing –we should be celebrating the improvement in our food landscapes."

By Sarah Taaffe-Maguire, business reporter

Despite the Middle East and Russia-Ukraine tension, the benchmark oil price has come down from the highs of Monday to just over $80 a barrel, good news for motorists.

The value of a pound is down from the highs of July but still better than most of the last six months, with £1 equal to $1.2856. Sterling has done worse against the euro with one pound buying €1.1663, less than could be bought for most of the last three months.

Following news that insurance company Admiral will up payments to shareholders, the price of its shares increased nearly 8%, the most of all the companies on the London Stock Exchange's benchmark index, the FTSE 100.

As a whole, the FTSE 100 grew 0.06% while the larger and more UK-based FTSE 250 index of valuable London-listed companies grew 0.28%.