Spending review: Government poised to boost NHS and defence sector June 1, 2025 The government’s spending review is likely to focus on the UK’s health and defence sectors, a report from the Institute for Fiscal Studies (IFS) suggests. The spending review, which will be published on 11 June, will allocate departmental funding and budgets for the next three to four years. It has been the subject of speculation [...]
‘No doubt’ UK will spend three per cent of GDP on defence by mid-2030s, Healey says May 31, 2025 Defence spending at three per cent of GDP by 2034 is a firm commitment, John Healey has said. The government has previously set out its “ambition to reach three per cent in the next parliament”, after meeting its pledge to ratchet up defence spending to 2.5 per cent of GDP by April 2027. But the [...]
UK-Gulf states trade deal on the horizon May 30, 2025 The UK is poised to sign a trade agreement with the Gulf states, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. The deal with the Gulf Cooperation Council (GCC) is expected to be worth as much as £1.6bn, with hopes that the value will rise by an additional £8.6bn a year [...]
Starmer’s EU deal risks stifling the UK’s thriving gene editing sector May 30, 2025 Aligning with EU on genetically modified food and agricultural products will create a regulatory cliffedge for a sector which has investors queuing and in which Britain has the chance to lead the world, says Matthew Bowles Last week, Sir Keir Starmer unveiled plans that could risk quietly derailing one of Britain’s fastest-growing scientific sectors, all [...]
50,000 civil service jobs could be cut in Labour spending review May 29, 2025 Civil servants are facing another round of job cuts, with as many as 50,000 civil service jobs on the line in the government’s upcoming spending review. According to reports, ten per cent of civil servants, who number 500,000 in total, will be culled. The civil service swelled after Brexit and the pandemic, with 130,000 added [...]
Reeves’ tax raids crush business confidence – but worst is yet to come May 29, 2025 Business confidence plummeted in the three months to May as Rachel Reeves’ tax hikes took hold and firms have warned more pain is to come. Consumer services’ optimism marked its eight consecutive month of decline at -42 per cent, whilst levels of business value plunged to -56 per cent. This was down from -44 per [...]
Keir Starmer hits back at Reform’s ‘fantasy’ economic policies May 29, 2025 Keir Starmer has hit back at Nigel Farage’s “fantasy economics,” after the Reform leader laid out a suite of fresh policies aimed at attracting voters away from Labour. In a speech to workers in the North West later today Starmer plans make the case against Farage’s economic credibility, likening the proposals to the Liz Truss [...]
HMRC review signals potential pension tax changes in Autumn May 28, 2025 Rachel Reeves could target pension savers in fresh tax grab as the Chancellor looks for additional ways to fund the government’s ballooning spending. His Majesty’s Revenue and Customs (HMRC) has published research as part of an official review of workplace retirement schemes, exploring cuts to the tax benefits of salary sacrifice pension schemes. The schemes, [...]
London slips from top smart centre spot May 28, 2025 London has lost its place as the world’s top hub for science and tech innovation after a sobering report warned of the City’s slipping global status. The UK’s capital fell behind San Francisco and Zurich which stormed ahead with a gain of 16 and 6 points respectively. Meanwhile, London’s rating shed three points as it [...]
Farage challenges Labour as ‘working class’ party May 27, 2025 Nigel Farage has insisted that Reform has replaced Labour as “the party of the working class,” while introducing a litany of policies which he claims represent the interests of working people. In a speech on Tuesday morning, the Reform leader goaded the Labour Party, accusing leaders of being “absolutely terrified” of him. Farage lambasted Labour’s [...]