George Cowcher from Derbyshire and Nottinghamshire Chamber of Commerce says companies are not investing in Nottingham because of the charge.
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Part of the northbound carriageway will be shut on Thursday 1 June.
Ramadan is the month in which Muslims refrain from eating and drinking during the daylight hours. This year it runs from May 26 to June 24.
A young offenders institute would be converted into a category three prison.