Defence secretary refuses to confirm whether UK missiles were used against Russia November 21, 2024 The defence secretary has insisted he “won’t be drawn on operational details” of the conflict in Ukraine amid reports UK-made missiles have been fired into Russia. Russia’s military said it has shot down two UK-made Storm Shadow missiles, following reports that debris from the weapons had been discovered in the country’s Kursk region, which borders [...]
GB Energy given five years to turn a profit November 20, 2024 The boss of Great British Energy has been given a five-year target for Labour’s flagship state-owned energy company to become “profitable”, MPs have been told. Juergen Maier, who was appointed chairman of GB Energy in June, was asked at the Commons energy security and net zero committee whether he had a timeline on profitability. He [...]
Peel Hunt: There’s a ‘missing piece’ in Reeves’ City growth push November 20, 2024 The government has demonstrated a “fundamental shift” in its approach to growth but must address the key issue of pushing investment into the UK stock market, Peel Hunt has said. In an a note to investors today, Peel Hunt’s head of research, Charles Hall, stressed that while Rachel Reeves‘s Mansion House speech had been a [...]
Housing crisis ‘hampers growth’ but minister vows 1.5m target on track November 20, 2024 The UK’s housing crisis “hampers economic growth and productivity”, the housing minister has said, as he insisted the target of 1.5m new homes can be achieved. Labour pledged in its manifesto ahead of the election to deliver the 1.5m net additional dwellings over the course of the Parliament, ending in 2029. It came in response [...]
Lidl boss warns retailers are ‘reeling’ after Budget tax raid November 20, 2024 The boss of budget supermarket Lidl has warned retailers are “reeling” following Labour’s tax raid in the Autumn Budget. The German supermarket’s UK boss Ryan McDonnell said the discount brand was staring down the barrel of “tens of millions of pounds” in extra costs. This comes after the Chancellor unveiled a £25.7bn tax-raising package, with [...]
Ofgem consults fund to speed up UK power projects November 20, 2024 The new scheme would provide billions of pounds to help owners cut delays, bring down costs and attract international investment, Ofgem said.
Surging housing costs push inflation back above Bank of England target November 20, 2024 Inflation has risen back above the Bank of England’s two per cent target, the latest data has shown today. According to the latest figures from the Office for National Statistics (ONS) consumer price inflation (CPI) hit 2.3 per cent in October. The figure came in above economists projections. Economists had forecast CPI to come in [...]
Starmer’s war on farmers will end in tears November 20, 2024 Farmers are busy people, often completely immersed in a lifestyle and a sector that demands their total attention and dedication. They kept going throughout the pandemic. They’ve been untroubled by the great working-from-home debate. They’ve put up with policy changes, regulatory reform, subsidy reform, Brexit checks, weather events, supply chain disruption, Whitehall bureaucracy, rising costs [...]
Plans worth £200m revealed by Imperial College London and Bruntwood SciTech November 20, 2024 Imperial College London is to build a life sciences and deep tech development worth over £200m in the west of the capital after partnering with Bruntwood SciTech. The university has earmarked land at its White City Deep Tech Campus after signing an agreement with the joint venture between property group Bruntwood, Legal & General and [...]
Reeves must answer ‘incredibly serious’ questions over CV, Tory MP demands November 19, 2024 Rachel Reeves must answer “incredibly serious” questions over claims she “misrepresented” her CV, a Tory MP has demanded. Richard Holden wrote to the Chancellor following reports she had exaggerated her professional experience at the Bank of England (BoE) and Halifax Bank of Scotland (HBOS). Reeves told Stylist magazine in 2021 that she spent a decade [...]