UK agrees £500m funding deal with Tata Steel September 11, 2024 The government will invest £500m into Tata Steel’s UK operations alongside an “improved deal” for workers to support the transition to greener steel production, business secretary Jonathan Reynolds confirmed today. Workers at the country’s biggest steel plant in Port Talbot, south Wales, will receive “improved” redundancy terms and the offer of a skills package, he [...]
Failure to solve rental crisis will hurt Labour for years to come September 11, 2024 Ahead of the election, Labour devoted 1,000 words of its 142-page manifesto to its plans for house building, the planning system, and the private rented sector.
Water investment bosses meet ministers amid hunt for fresh funding September 10, 2024 Ministers have held talks with bosses of water industry investment firms in a bid to attract fresh capital to the scandal-hit sector. Environment secretary Steve Reed held a roundtable with roughly 30 people representing investors in the sector such as pension funds on Tuesday in the City of London. Reed said he wants the water [...]
Tory leadership race: Mel Stride knocked out as MPs whittle candidates to four September 10, 2024 Mel Stride has been knocked out of the Tory leadership race as Conservative MPs voted to whittle the remaining candidates down to four. The former work and pensions secretary received just 16 votes, the lowest number of votes, meaning he was eliminated from the process, while Robert Jenrick led the pack on 33 votes. Kemi [...]
Winter fuel payments: Just one Labour MP rebels in Commons vote on policy September 10, 2024 Just one Labour MP – Jon Trickett – rebelled against the government in a House of Commons vote on plans to means test the winter fuel payment to pensioners. The government won the vote with 348 votes in favour to 228 against, while some MPs – including 53 Labour members – abstained on the ballot, [...]
Goldman Sachs expects tax hikes of ‘at least’ £20bn in Reeves budget September 10, 2024 Many potential tax reforms have faced criticism for their potential unintended consequences.
Lloyds, Barclays and Natwest could weather Labour tax raid, analysts say September 10, 2024 Lloyds, Barclays and Natwest would see their 2024 profits fall by “low single digits” if the Labour government decides to raise taxes on banks in October’s Budget, according to Bloomberg Intelligence. Bloomberg analysts said Lloyds Banking Group and Natwest would likely offset the hit to their profits by repricing their loans, while they did not [...]
Industrial strategy must boost e-commerce exports to help small firms, report urges September 9, 2024 The government’s industrial strategy must prioritise e-commerce in order to boost small business exports and promote economic growth, a report has urged. Improving trade technology adoption, boosting support for targeting emerging markets, and developing initiatives to support female-led small and medium enterprises (SMEs) would make a significant contribution to the number of small firms exporting, [...]
Ditch ‘phony’ fiscal rules and tax ‘unearned wealth’, unions urge Starmer September 9, 2024 Union chiefs launched a broadside at Sir Keir Starmer, describing the Prime Minister’s planned national wealth fund as “a joke,” urging him to tax “unearned wealth” and demanding he “ditch the phony fiscal rules”. Speaking at the Trades Union Congress (TUC) conference on Monday – ahead of Sir Keir’s own address on Tuesday – union [...]
Firms fear looming minimum wage rise and workers’ rights package September 9, 2024 The survey makes apparent the extent of business concern over the new deal for workers, which is one of the most controversial aspects of Labour's legislative agenda.