Natpower trumps Labour with £1bn battery storage project August 28, 2025 Global energy company Natpower is set to dwarf a key Labour investment in battery storage development as it said £1bn would be injected into one of the largest storage sites in the UK. The new battery storage project on Sembcorp Utilities’ Wilton International Site near Middlesbrough will receive £1bn in private funding with “no government [...]
Services sector in one year of pessimism, CBI suggests August 28, 2025 The UK services sector’s pessimism in business prospects has now lasted a full year, a new survey has found, providing further evidence that the trust between businesses and the Labour government has broken down. Labour ministers have rolled out a number of strategy papers over the last months to offer firms across the country a [...]
NDA ban and bereavement leave add extra £80m to UK Employment Bill August 27, 2025 The new amendment to the Employment Rights Bill, including banning the use of non-disclosure agreements (NDAs), will add an additional £80m a year in costs to UK businesses. According to the employment team at TWM Solicitors, the new clauses introduced in July are expected to increase the existing government forecast of £5bn by at least [...]
Government takes control of UK’s third-largest steelworks after collapse August 21, 2025 The UK government has taken control of the country’s third-largest steelworks as near 1,500 workers face uncertainty. Speciality Steels UK (SSUK), which owns major sites such as Liberty Steel in Rotherham, South Yorkshire, was put into compulsory liquidation after insolvency courts granted a winding-up order sought by creditors. The creditors said they were owned hundreds [...]
Services lead ‘fragile and uneven’ business activity rebound August 21, 2025 Business activity in the UK’s private sector enjoyed its strongest rebound in a year this month, but economists have cautioned the growth remains “fragile and uneven.” S&P’s Global flash UK composite purchasing managers’ index (PMI) reached 53.0 in August, up from 51.5 in July and marking the highest score in 12 months. Any score above [...]
Work and study visas fall in push to reduce immigration August 21, 2025 Work visas issued to migrants have fallen by 36 per cent compared to last year, fresh data has revealed, as tightened rules on skilled workers and care providers have lowered the numbers of people arriving in the UK. The Labour government is under considerable pressure to cut net migration from previous peaks of nearly one [...]
UK government borrowing since April hits £60bn August 21, 2025 The UK government borrowed a total of £1.1bn last month, according to the Office for National Statistics (ONS), compared to £2.3bn last year and below the fiscal watchdog’s £2.6bn forecast. The total deficit hit £60bn in the months since April, which is £6.7bn more than in the same four-month period of 2024 and the third-highest [...]
House prices recover after stamp duty hit August 20, 2025 House prices are rebounding from a post-April decline caused by Chancellor Rachel Reeves’ hike to stamp duty, official data has shown. The official house price index rose by 3.7 per cent in the year to June, according to the Office for National Statistics (ONS), which was higher than 2.7 per cent growth seen in May. [...]
Inflation tops forecasts as food prices jump August 20, 2025 Inflation jumped in July, official data has suggested, creating a dilemma for Bank of England officials ahead of the central bank’s next policy meeting in September. The Office for National Statistics (ONS) said consumer price index (CPI) inflation hit 3.8 per cent in the 12 months to July, which is on par with the Bank [...]
Reeves warned tax reform would be ‘rushed’ and lead to snags August 20, 2025 Chancellor Rachel Reeves’ efforts to fast-track tax reforms in the three months leading to this year’s Autumn Budget risk being “rushed” and putting Britons at a disadvantage, senior tax advisers have warned. Treasury officials are reportedly “racing” to find tax reforms to ease the burden on businesses and individuals while improving productivity forecasts from the [...]