UK banks brace for sour loan spike as household savings run dry October 21, 2026 UK banks are bracing for a potential surge in unpaid debts as cash reserves at UK households plummet to their lowest levels in three years. The country’s top lenders are expected to provision a combined £4bn for loan-losses in 2027, according to an analyst consensus, but this risks coming up short as households are squeezed [...]
Healey weighs removing standing charges on gas bills October 21, 2026 Chancellor John Healey is looking at cutting standing charges on gas bills as part of the government’s push to cut household energy costs, the Prime Minister has announced. Speaking in the House of Commons today, Andy Burnham said he had asked the Chancellor and the energy secretary, Miatta Fahnbulleh, to consider stripping “unfair” standing charges [...]
FCA drops probe into scandal-hit Home REIT October 21, 2026 The City watchdog has dropped its investigation into Home REIT, two years after opening a probe into the stricken property firm. The Financial Conduct Authority (FCA) has said it intends to take no further action against the firm, according to a statement released by Home REIT on Wednesday. An investigation into the former London-listed social [...]
The Debate: Should you be fined for playing music on the bus? October 21, 2026 Local authorities could be empowered to give out £100 fines to 'loudcasters' on buses. We hear the case for and against in this week's Debate
Healey’s fiscal ‘dilemma’ ahead of the Budget October 21, 2026 Forecasters sitting in a small office at the top of the Ministry of Justice building have had their work cut out this week. A week from the Budget, the headquarters for the Office for Budget Responsibility, the independent fiscal watchdog, is likely to be buzzing with staff members double-checking details and estimates in its crucial [...]
Bank of England set to overshadow Healey’s Budget with interest rate hike October 21, 2026 The Bank of England is expected to overshadow John Healey’s maiden Budget with a “done deal” interest rate hike aiming to tame soaring inflation while risking economic growth. Top City economists predict the central bank’s Monetary Policy Committee (MPC) will raise the base rate at its November meeting, just one week after the Autumn Budget. [...]
Inheritance tax receipts reach fresh record high as Autumn Budget approaches October 21, 2026 Inheritance tax receipts rocketed to a new record high in the three months to September 2026, as rising asset values and frozen thresholds expanded the tax to hit more ordinary households. Receipts hit £4.7bn over the period, according to the latest figures from HMRC, a seven per cent increase from the prior year where receipts [...]
UK tech race at risk from ‘far too cautious’ government, warns watchdog October 21, 2026 Britain risks falling behind in the global tech race unless the government takes greater risks backing British startups, the chairman of Parliament’s spending watchdog has warned. In a report published on Wednesday, the Public Accounts Committee (PAC) urged UK Research and Innovation (UKRI) to take more equity stakes in companies it funds, arguing taxpayers are [...]
Accounting watchdog launches enquiries into Man City auditor BDO October 21, 2026 The Financial Reporting Council (FRC) is considering launching a formal probe into Manchester City’s accounts and its external auditor BDO, after the club was found to have breached the Premier League’s financial rules. In a letter to the government’s business committee, penned by the newly appointed chair, Dame Jayne-Anne Gadhia, the FRC said it is [...]
UK debt pile exceeds £3 trillion one week before Healey’s Budget October 21, 2026 The size of the UK public debt topped £3 trillion in September for the first time in official data released one week before John Healey’s Budget. The major milestone reflects the difficulties facing the Chancellor ahead of his maiden fiscal statement. As a share of GDP, public sector debt stood at 94 per cent, about [...]