If the UK wanted to be more biofuel orientated it would have to import it.

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Agricultural exports that used to be the engine of the economy have shriveled, and foreign currency to import goods is hard to come by.

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On top of this, low import prices, which have also helped to bear down on inflation, may be beginning to disappear.

ECONOMIST: The economy

Even though prices have gone down in the UK over the last few years, it can still be much cheaper to import a car from Europe.

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Toyota will be able to ship them to Thailand without facing the stiff import duties that would have made this practice too expensive in the past.

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