Defence spending: 2.5 per cent of GDP is ‘ambitious,’ minister says February 23, 2025 Raising UK defence spending to 2.5 per cent of national income is “ambitious”, a cabinet minister has insisted as the government faces pressure to increase investment. It comes amid uncertainty over the future of the war in Ukraine, as the US began negotiations with Russia, excluding Kyiv from talks. Education secretary Bridget Phillipson sought to [...]
Payments regulator reportedly could be scrapped as No10 slashes red tape February 23, 2025 The UK’s payments regulator could be scrapped and folded into another regulator as part of efforts by No10 to slash red tape, according to Sky News. Ministers are mulling whether to abolish the Payment Systems Regulator (PSR) and amalgamate it into the Financial Conduct Authority (FCA), the broadcaster has reported. A decision could come within [...]
UK to unveil new Russia sanctions to mark three years of Ukraine war February 23, 2025 The UK will unveil new sanctions to “turn the screws” on Russia as it marks three years since Moscow’s invasion of Ukraine. David Lammy said he would announce the sanctions, which he called the largest package of measures since the early days of the conflict, on Monday to coincide with the anniversary. The foreign secretary [...]
Starmer to set date to increase defence spending during Trump visit – report February 23, 2025 Sir Keir Starmer is expected to confirm a timeline to raise defence spending and give Donald Trump an invitation for a state visit when he visits Washington next week, per a report. The Prime Minister will have to walk a tricky line when he meets President Trump, balancing the UK’s support for Ukraine with the [...]
Pressure on Rachel Reeves grows as tax receipts disappoint February 21, 2025 Tax receipts rose at a slower pace than expected in January, new figures show, in a sign that the poor performance of the economy could have damaging fiscal consequences. According to figures from the Office for National Statistics (ONS), the government recorded a monthly surplus of £15.4bn, meaning it received more in taxes than it [...]
Rachel Reeves urges financial services to back emerging markets February 20, 2025 Rachel Reeves has met with top financial services firms to urge them to work with development institutions and within “emerging markets”. The Chancellor met with firms including Aviva, HSBC and Schroders in Canary Wharf today, as she called on industry leaders to seize on growth opportunities and shore up London as a leader in development [...]
NATO members will ‘fight together’ if needed, defence secretary says February 20, 2025 NATO member states will “fight together” if needed, the UK’s defence secretary has pledged during a visit to Norway. John Healey told a press conference with his Norwegian counterpart Tore Sandvik that Russian leader Vladimir Putin “wants to divide NATO” and “wants to divide Europe” as he warned that a ceasefire in Ukraine “must not [...]
Public service reform is pro-business, pensions minister argues February 20, 2025 Reforming Britain’s public services is a pro-growth and pro-business policy, the pensions minister has argued. Torsten Bell, who was appointed in the mini-reshuffle following City minister Tulip Siddiq’s departure from government, has said it’s not possible to have a “failing state and a growing economy”, in an interview with the Guardian. The former Resolution Foundation [...]
Checkatrade CEO: ‘My plan to get Britain growing again’ February 20, 2025 The chief executive of Checkatrade has revealed what he would like the government to change in order to boost British businesses and get the country growing again. Speaking during an up-coming episode of City AM’s Boardroom Uncovered interview series, Jambu Palaniappan argued Labour should reform the rules around planning permission to made it easier for [...]
Healey urges ‘maximum pressure’ on Putin, as Trump blames war on Ukraine February 19, 2025 The defence secretary John Healey has warned that forgetting about the war in Ukraine while talks take place between the US and Russia risks “jeopardising the peace”. It came as Healey countered US President Donald Trump’s claim that Kyiv started the conflict amid a visit to Norway, near its border with Russia. The cabinet minister [...]