‘No need to take action’ on fuel duty, says Labour minister Economics A Labour cabinet minister has pushed back against rallying calls for the government to hand petrol retailers some reprieve, stating there is “no need” to axe the planned hike in fuel duty. Education secretary Bridget Bridget Phillipson said on Sunday the government would “take a view closer to the time” on whether to press ahead [...]
Kemi Badenoch to call for oil drilling to be maximised Politics Kemi Badenoch is to launch a campaign calling for Britain to maximise the use of its oil and gas reserves. The Conservatives will put a “get Britain drilling” campaign at the heart of their proposals for bringing down the spike in energy prices caused by the war in the Middle East. Iran’s blockade of the [...]
Reeves’ energy bill crackdown prompts industry backlash Politics Chancellor Rachel Reeves’ push to crack down on “profiteering” among retailers has led to backlash across industry as suppliers are warning of shortages on the horizon. Reeves has been warned by industry bosses that the focus on profiteering lacked justification and was part of a political ploy ahead of crucial elections in May. Asda boss [...]
Nato: Starmer’s defence spending pledge lagging behind March 26, 2026 Sir Keir Starmer’s pledge to upgrade the armed forces is facing renewed scrutiny after official Nato figures suggested that spending in defence was lagging ahead of a crucial expenditure target in 2027. Starmer said last year that the government would increase spending on defence to 2.6 per cent of GDP from 2027. But Nato, the [...]
Is Rachel Reeves actually to blame for the ‘Truss crash’? March 26, 2026 After years of blaming the 'Truss crash' on tax cuts, Rachel Reeves has finally gestured to the real problem – her own instinct to overspend, writes Tom Harwood.
UK economy set for second lowest growth in G7 – OECD March 26, 2026 The UK economy is set to suffer the second lowest growth and second highest level of inflation in the G7, the OECD has predicted, in a damning set of forecast revisions for the Labour government and the Bank of England. Growth in the UK will slow to around 0.7 per cent, according to the OECD, [...]
FTSE 100 Live: OECD slashes UK growth prospects as inflation set to jump March 26, 2026 Good morning and welcome back to the City AM liveblog. The White House’s Press Secretary has said the US is “very close” to meeting its objectives in the Iran war, though offered no specific timeline on when the conflict could come to a close. But Iran’s foreign minister has said the country has “no intention [...]
Vodafone set for £85m court showdown with ex-franchisees March 26, 2026 An £85m court battle between Vodafone and its former franchisees will kick off on Thursday over claims the telecoms giant imposed cuts on franchises which left managers facing closures and bankruptcy. The 62 ex-franchisees pursuing a civil action against Vodafone – recently renamed VodafoneThree – will launch their case at the High Court for the [...]
Starmer says he doesn’t hold power to approve North Sea projects March 25, 2026 Sir Keir Starmer has said he doesn’t hold legal powers to approve fresh exploration of North Sea oil and gas fields, with the decision falling in the hands of net zero secretary Ed Miliband. Starmer said current legislation determined that a quasi-judicial decision relating to cases for more gas extraction at Shell’s Jackdaw site and [...]
Peter Kyle hints at push for EU customs union return March 25, 2026 Business and trade secretary Peter Kyle suggested joining the EU’s customs union could improve the UK’s economic prospects, with new data suggesting that trade flows in London boomed last year. After being asked twice whether war in the Middle East provided a stronger case for the UK to join the customs union, Kyle refused to [...]