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Morocco: The Future Gateway for Chinese Cars in Europe
Jorf Lasfar's battery materials plant in Morocco is the result of a partnership between Moroccan company Al Mada and Chinese group CNGR Advanced Materials. Between 2023 and 2025, Morocco attracted almost half of the investment from Chinese auto equipment suppliers and manufacturers in the Middle East and North Africa region, according to BMI Fitch Solutions. Gotion High Tech, the world's sixth-largest battery manufacturer, has launched a gigafactory project in Kénitra with an initial investment of 1.2 billion euros.
Use our tax calculator to see how the Spring Statement affects you
The Chancellor, Rachel Reeves, has provided her latest economic update in the Spring Statement, focusing on inflation and wage growth forecasts for the next five years. While wages are expected to increase, frozen tax thresholds could result in higher tax payments. The Conservatives initially froze these thresholds until 2028-29, and Labour extended it until 2031. Use our calculator below to understand how your pay may be impacted.
Live: Russia's Central Bank Sues EU Over Frozen Assets
The Russian Central Bank has filed a lawsuit against the EU over the freezing of its assets. The bank claims that the EU's actions are unlawful and violate international law, as it seeks to protect Russia's financial interests. The case is ongoing and could have significant implications for the relationship between Russia and the EU.
No New Tax Rises in Spring Statement, But Don't Be Fooled - Tax Bills Are Still Rising
While the Chancellor's Spring Statement did not announce any new tax rises, there are measures that have yet to take effect. These include changes to national insurance contributions and a reduction in the threshold for income tax.