Bodycare: Reeves creating ‘too much risk and uncertainty’ for us to expand June 30, 2025 Bodycare has slowed down the pace of opening new stores across the UK as it blamed the government for creating “too much risk and uncertainty”. The Lancashire-headquartered retailer added that “the current climate of increased costs and legislation” is impacting its growth plans. Bodycare has also said that government policy on the winter fuel allowance [...]
National wealth fund boss slams banking industry’s risk appetite June 30, 2025 The boss of the National Wealth Fund has blasted the banking industry’s risk appetite and cited the lack of risk-taking as the reason for waning growth figures. Speaking at City Week on Monday, John Flint, the chief executive of the newly-established government body, said: “The banking system is very heavily regulated and in the best [...]
U-turn proves Labour has no real plan to reform welfare June 30, 2025 Instead of making a moral argument for the need to reform a broken a system, Labour has cast welfare changes as a narrow fiscal exercise, say Jean-André Prager and Sean Phillips The Prime Minister appears to have quelled a mass rebellion over health and disability benefit reform, but the concessions made to backbench ‘rebels’ are [...]
City minister doubles down on green finance as firms turn sour June 30, 2025 The City minister has reaffirmed the government’s ambition for a green transition across the financial services sector, despite the industry pivoting on climate priorities. Speaking at City Week on Monday, Emma Reynolds said: “The UK has a world leading financial and related professional services ecosystem and the research that is needed to integrate sustainable finance.” [...]
Disposable income per head slumps despite economic growth June 30, 2025 The Office for National Statistics left growth figures for the UK economy at 0.7 per cent in the first three months of the year unrevised on Monday. Official data from the ONS showed quarter one’s growth was led by a 1.3 per cent increase in the production sector. Services and construction jumped 0.7 per cent [...]
ChatGPT wipes out entry level jobs June 30, 2025 Vacancies for graduate roles, apprenticeships, internships, and junior positions have decreased by more than 30 per cent since ChatGPT emerged at the end of 2022. The research by Adzuna follows a warning last month from the Chief Executive of artificial intelligence heavyweight Anthropic, Dario Amodei, who said that AI could eliminate up to 50 per cent of [...]
Reeves told Lifetime ISAs rules are ‘nonsensical’ and costing savers June 30, 2025 Lifetime ISAs require deep reform, as strict rules on cash withdrawals mean customers are left with less money than they initially deposited, leading Britons to make worse investment decisions, while the government sets aside too much spending for bonuses, senior MPs have told Chancellor Rachel Reeves. Reeves is a fortnight away from her flagship Mansion [...]
Ex LSEG boss slams London stock market ‘gimmicks’ June 29, 2025 The London Stock Exchange Group (LSEG)’s former boss Xavier Rolet has blasted stewards of UK capital markets for focussing on “gimmicks and quick headline-grabbing fixes” to liquidity levels. Officials at the London Stock Exchange and at the Treasury have mooted possible reforms to savings as part of a bid to revive capital markets. London Stock [...]
British Business Bank set on delivering Labour’s growth ambition June 28, 2025 Arguably one of the biggest winners from Chancellor Rachel Reeves’ latest spending splurge, the British Business Bank had its lending capacity beefed up and pledged to back the UK’s innovators with its expanded range. The bank had its funding capacity increased to £25.6bn in the Spending Review from near £15.6bn as it targets eight key [...]
Will banks be able to escape a Reeves’ tax raid this Autumn? June 27, 2025 As Rachel Reeves watches her fiscal headroom crumble with every Labour U-turn, the Chancellor may return to her budget mantra that those with the “broadest shoulders should bear the heavier burden”. Lenders managed to skirt a tax raid in the 2024 budget after lobbyists warned it could damage the sector’s international competitiveness, but renewed fiscal [...]