UK airport growth shows no signs of slowing as key expansion decisions loom January 13, 2025 Surging passenger traffic at UK airports has shown no signs of slowing as officials continue to deliberate over key expansion decisions in the coming months. Both Heathrow and London Stansted reported record annual passenger numbers on Monday, with 84m and 30m flyers passing through each hubs’ gates in 2024. The figures will come as little [...]
Starmer declines to confirm Reeves will be Chancellor at next election January 13, 2025 Sir Keir Starmer has declined to confirm that Rachel Reeves will be Chancellor at the next general election. The Prime Minister was asked about Reeves’ role following a speech in London on artificial intelligence (AI) and insisted he was “completely confident” in her. However, he declined to guarantee she would still be in post at [...]
Industry slams Labour government plans for ticket reform January 11, 2025 Leading industry voices have slammed government plans to change the secondary ticketing market in sport, describing proposals as “draconian”. The government on Friday announced plans to tackle touts and potentially further regulate the secondary market following instances of extreme dynamic pricing relating to the sale of Oasis tickets. Measures could include a cap and a [...]
Rachel Reeves to raise Ukraine and Hong Kong human rights on China trip January 11, 2025 Rachel Reeves is expected to raise Russia’s war in Ukraine and issues of human rights in Hong Kong during her trip to China. The Chancellor is visiting Beijing for the first UK-China economic and financial dialogue since 2019, with Bank of England Governor Andrew Bailey and top financial services figures. Ministers are insisting the trip [...]
Rachel Reeves eyeing spending cuts in spring January 10, 2025 Rachel Reeves is considering cutting departmental spending as UK borrowing costs soar, despite risks it could “dampen” activity and “further dent anaemic” growth. The Chancellor is said to be eyeing further reductions to unprotected government departments’ budgets after she ruled out additional tax rises or more borrowing to avoid breaking her fiscal rules following the [...]
The runners and riders to replace under-fire City minister Tulip Siddiq January 10, 2025 Downing Street is reportedly weighing up a number of potential candidates to replace Tulip Siddiq as her position as City minister comes under increasing pressure. Siddiq, the niece of ousted Bangladeshi leader Sheikh Hasina, has been in the headlines since last month when she was named in an investigation into whether her Bangladeshi family embezzled [...]
What is a gilt? And why should you care? January 9, 2025 Investors have been drawing comparisons to the bond market meltdown following Liz Truss's mini-Budget as well as the IMF bailout way back in 1976.
Pound sterling continues to sink as UK economy ‘clearly on very shaky ground’ January 9, 2025 Pound sterling has continued to sell off this morning, and UK government bond yields have ticked higher as UK risk assets remain under pressure. The pound fell below $1.23 against the dollar in early trade and is currently down 0.7 per cent against the dollar and 0.6 per cent against the euro. Meanwhile, the domestically [...]
UK will launch sanctions against people smugglers, David Lammy to say January 9, 2025 The UK government is set to launch sanctions against people smugglers in a bid to disrupt irregular migration, David Lammy will announce. Ministers are launching a new sanctions regime designed to cripple the people smuggling crime rings and starve them of illicit finance fuelling their operations. Described as a world-first, it will aim to prevent, [...]
Disastrous school reform agenda is a solution in search of a problem January 9, 2025 A long time ago I got involved in a battle to help a school leave council control and become an academy. This was shortly after Michael Gove, as education secretary, continued the reforming efforts of his Labour predecessors to inject more choice and freedom into the state education sector. The local council, faced with losing [...]