The government is consulting on proposals to increase the thresholds at which co-operatives, mutually-owned businesses that are run by and for their members, and community benefit societies operated for the benefit of the community, have to produce a full audit report.

Currently co-operatives with a turnover of less than £5.6 million and assets of less than £2.8 million can choose not to appoint an auditor. The government is proposing to increase the turnover and asset thresholds to £10.2 million and £5.1 million respectively.

This will mean that over 70% of co-operatives in the UK will no longer have to undertake a full audit, levelling the playing field between co-operatives and companies of the same size.

The Economic Secretary to the Treasury, Stephen Barclay, said:

From the dairy farm that provides milk to the local community, to the brewery owned by 10 friends who all have a passion for ale, we want to see co-operatives and community benefit societies across the UK thrive and grow.

That’s why we’re reducing onerous administrative burdens on these societies, saving them money and freeing them up to concentrate on what matters the most – the needs of their members and communities.

Ed Mayo, Secretary General of Co-operatives UK, said:

We are pleased government has heeded calls to remove this unnecessary extra burden on co-operative and community businesses. This is a great example of the practical steps government can take to support the UK’s co-operative sector, which plays a key role in fostering a more inclusive economy.

In order to take advantage of this change co-operatives must have passed a resolution to dis-apply the requirement to produce a full audit report through their members, and the society must not be on the list of exempted societies, such as credit unions.

There are 7,000 co-operatives in the UK, working in all parts of the economy. Together they contribute more than £34.1 billion to the British economy, with over 17.5 million people owning the UK’s co-operatives.

Co-operatives range in size and activity. The largest co-operative is the Co-operative group which is the UK’s fifth biggest food retailer and has more than 2,500 stores. Other examples include football clubs, dairy farms, social care providers and renewable energy providers.

Over the past 3 years the government has modernised the laws governing co-operatives and community benefit societies and made it easier for them to raise capital by increasing the limit of withdrawable share capital that an individual can invest from £20,000 to £100,000.

Lorries on motorways are a step closer to accelerating, braking and steering in sync through wireless technology, thanks to £8.1 million government funding for trials announced today (25 August 2017).

The ‘platooning’ trials will see up to 3 heavy goods vehicles, travelling in convoy, with acceleration and braking controlled by the lead vehicle. All lorries in the platoon will always have a driver ready to take control at any time.

If successful, this technology could have major benefits for motorists and businesses in the UK. A row of lorries driving closer together could see the front truck pushing the air out of the way, making the vehicles in the convoy more efficient, lowering emissions and improving air quality.

Transport Minister Paul Maynard said:

We are investing in technology that will improve people’s lives.

Advances such as lorry platooning could benefit businesses through cheaper fuel bills and other road users thanks to lower emissions and less congestion.

But first we must make sure the technology is safe and works well on our roads, and that’s why we are investing in these trials.

The Transport Research Laboratory will carry out the trial, with funding provided by the Department for Transport and Highways England. It follows a government-funded feasibility study which recommended a trial to examine the benefits and viability of platooning.

Jim O’Sullivan, Highways England Chief Executive, said:

We are pleased to be supporting the government’s ambition for the UK to be a global leader for innovation.

The trial has the potential to demonstrate how greater automation of vehicles – in this instance, HGVs – can deliver improvements in safety, better journeys for road users and reduction in vehicle emissions.

Investing in this research shows we care about those using our roads, the economy and the environment, and safety will be integral as we take forward this work with TRL.

The trial will be carried out in 3 phases, with the first focusing on the potential for platooning on the UK’s major roads. Initial test track based research will help decide details such as distance between vehicles and on which roads the tests could take place.

Trials are expected on major roads by the end of 2018. Each phase of the testing will only begin when there is robust evidence that it can be done safely.

Similar trials have already been successfully carried out in Europe and the United States.

Rob Wallis, Chief Executive, TRL said:

The UK has an unprecedented opportunity to lead the world in trialling connected vehicle platoons in a real-world environment.

TRL and its consortium of leading international partners, have the practical and technical knowledge gained from previous projects to understand what is required to put a connected vehicle platoon on to UK roads safely.

The team are now taking that expertise and uniquely applying it within live traffic operations.