Auto-enrolment closed the gap but more needs to be done, says pension minister February 3, 2026 The introduction of auto-enrolment in 2012 helped boost pension savings, but more needs to be done to encourage people to save for retirement, a leading government official has said. Speaking at the Association of British Insurers conference, pensions minister Torsten Bell acknowledged the importance of auto enrolment, with savings rates for eligible workplace employees doubling [...]
Bank of England’s Breeden warns on rivals overtaking UK on innovation February 2, 2026 The Bank of England’s lead for fintech policy and digital currency has laid out a sweeping vision for the UK’s next generation of payments infrastructure amid a rallying cry for the UK to not lag behind its peers. Sarah Breeden, a rate-setter at the central bank and the deputy governor for financial stability, said the [...]
Retirement option to be scrapped in overhaul of Lifetime ISA January 28, 2026 The government is set to scrap the option to save for retirement in its replacement for the Lifetime ISA. The new savings product will only be available for first time buyers and will no longer pay the government’s 25 per cent bonus on a monthly basis, as part of the Treasury’s bid to simplify the [...]
Public finance bodies need more clarity, says boss of Reeves’ wealth fund January 28, 2026 The boss of Rachel Reeves’ flagship wealth fund has admitted British entrepreneurs want more clarity across public finance bodies as concerns rise over the growing number of institutions. Former RBS boss Oliver Holbourn, who the Chancellor appointed last July to lead the National Wealth Fund (NWF), said “people want more confidence in who they’re going [...]
Reeves told City at ‘critical juncture’ after claims of golden age January 25, 2026 Rachel Reeves has been handed a firm warning that Britain’s financial ecosystem is facing a “critical juncture” even after the Chancellor touted a “golden age” of opportunity for the City. The Chancellor faces a call to action following a report from lobby group TheCityUK and Big Four consultancy giant PwC revealing the “hard truth” that [...]
Business health check: the five-point plan to sharpen 2026 performance January 20, 2026 Businesses thrive on certainty, something that is frequently in short supply. That’s why now is a good time to check your business has the tools to withstand whatever the next 12 months might send your way. Prepare for what you know about – and what you don’t. Planning for the year requires getting comfortable with [...]
UK financial system exposed to ‘serious harm’ from AI risks January 20, 2026 The Treasury, the financial watchdog and the Bank of England have been handed a stiff warning that the nation’s financial system is not adequately prepared for an AI shock. A group of influential MPs sat on the Treasury Select Committee took aim at the institutions for “not doing enough to manage the risks presented by [...]
Khan urges Reeves to bring back tax-free shopping January 15, 2026 Mayor Sadiq Khan has called on Chancellor Rachel Reeves to bring back tax-free shopping for tourists to drive public revenue gains. Khan has lobbied the Treasury to re-introduce VAT-free shopping for visitors more than four years after the previous Conservative government scrapped the perk. Conservative City Hall member Thomas Turrell raised the issue of tourism [...]
Former OBR chair takes aim at Rachel Reeves’ fiscal rules January 13, 2026 The former chair of the Office for Budget Responsibility has taken aim at Chancellor Rachel Reeves’ fiscal rules, suggesting they prevent UK public finances from building enough “resilience”. In his first public appearance since his resignation last month due to the leaked Budget, Richard Hughes said the current fiscal rules were “among the loosest” the [...]
Migrant visa applications plummet in test to Reeves January 10, 2026 Migrants’ skilled worker visa applications plummeted in December, posing a test to Rachel Reeves and economists at the Office for Budget Responsibility (OBR) to take control of public finances. New figures showed that the number of skilled worker visa applications dropped to 2,500 in December, having increased to a peak of 10,100 in April 2024. [...]