Labour business conference with Reeves and Reynolds postponed following low demand June 4, 2025 Labour has put its £5,000-a-ticket business conference with planned appearances from Rachel Reeves and Jonathan Reynolds on ice, with the Financial Times reporting low demand for the enterprise event. Invitations to the event, seen by the FT, had touted a “first of its kind” agenda which would give industry figures a “unique opportunity to engage [...]
Trump tariffs: UK to dodge 50 per cent steel and aluminium levies June 4, 2025 President Trump exempted UK industry from a doubling of the rate of steel and aluminium tariffs up to 50 per cent, but businesses will still face a 25 per cent levy until a new trading relationship with the US is finalised. Though industry bosses had been braced to be hit by the 50 per cent [...]
Why the UK investment system needs a complete overhaul June 4, 2025 Nick Saunders, CEO of Webull UK, an online investment platform, says the UK must completely overhaul its investment system if it wants to drive growth. Like a rickety Edwardian chair with a broken leg, the retail investment infrastructure in the UK is so badly damaged that not even the most optimistic Bargain Hunt contestant would [...]
Spending review: Rachel Reeves pledges £15.6bn for regional transport June 4, 2025 The government has made its biggest spending announcement since Labour’s drubbing at the local elections in May, with a pledge from Chancellor Rachel Reeves to double investment in local transport over the next five years. A £15.6bn cash injection will form a major pillar of the 11 June spending review, which the Treasury says would [...]
Hospitality ranks bottom for UK wages as sector struggles with costs June 3, 2025 Hospitality workers are now the worst-paid employees in the UK as the sector continues to struggle with high costs. A combination of high energy prices, high wholesale prices and high taxes have squeezed margins in the last two years, making it hard for a sector pummelled by the pandemic to recover. Accommodation and food service [...]
US trade deal: Jonathan Reynolds questioned on Trump talks progress June 3, 2025 Shadow business secretary Andrew Griffith has raised questions around the progress of the UK-US trade deal, saying that the agreement has “not been signed, published and presented in any form”. In a letter posted on X, the former Treasury minister said that “no one has ever seen such a deal” and criticised Labour for a [...]
Deutsche Bank: £10bn of tax hikes coming in Autumn Budget June 3, 2025 Chancellor Rachel Reeves is expected to raise taxes by at least £10bn in this year’s Autumn Budget as rising inflation and increased spending eat into the Treasury’s fiscal headroom. “With a tough Spending Review due in June, we expect fiscal news to worsen over the coming months,” said Deutsche Bank analysts in a research note. [...]
Starmer’s defence spending will mean ‘chunky’ tax rises, warns IFS June 2, 2025 Sir Keir Starmer’s plans to boost defence spending will require “chunky” tax rises, according to the chief of the Institute for Fiscal Studies (IFS). Paul Johnson told Times Radio: “…if we’re really going to spend another £10-15 billion a year on defence, whilst inevitably we’re going to spend more and more on health and pensions [...]
Open access is ‘key priority,’ says Firstgroup boss June 2, 2025 Firstgroup is pushing ahead with plans to expand its open access offering despite fears over a government clampdown. The transport giant on Monday announced it had leased five Class 222, six car diesel trains after signing an agreement with rolling stock firm Eversholt Rail. It intends for the 340-seat trains to be used on a [...]
Andy Haldane: Reeves ‘not even close’ on growth after ‘rookie errors’ June 2, 2025 The Bank of England’s former Chief Economist has slammed Rachel Reeves’ first near-full year as Chancellor as “disappointing”, with the government “not even close to doing enough” on growth. Less than two weeks out from the 11 June spending review, Andy Haldane told LBC’s Nick Ferrari that there have been “mistakes, rookie errors” that have [...]