Employment Rights Bill will ‘cut retail staff numbers’ April 29, 2025 Labour’s Employment Rights Bill will lead to job cuts and price hikes, a poll of 31 major retailers has found, in the latest sign the government’s legislative agenda risks harming economic growth. The legislation, which is nearing its final stages in Parliament, introduces sweeping changes to zero-hours contracts, sick pay, leave, flexible working and dismissal, [...]
Food inflation rises to its highest level in almost a year April 29, 2025 Food inflation has risen to its highest level in almost a year as cost pressures begin to weigh on prices. Food inflation increased to 2.6 per cent year on year in April, against growth of 2.4 per cent in March and above the three-month average of 2.4 per cent, according to the British Retail Consortium [...]
Fiscal drag pulls nearly 2 million into higher tax bracket April 28, 2025 Income tax thresholds, frozen in 2021, have pulled nearly two million Brits into higher brackets as fiscal drag bites. The number of higher rate taxpayers has increased by 1.88m, from 4.43, to 6.31m, between 2021 and 2025, according to finance specialists Rift. “Rising income taxes have been particularly punitive in recent years, as inflation reached [...]
EY: Two years of slow UK growth means ‘increased chances’ of tax rises April 28, 2025 Rachel Reeves may have to resort to reversing Labour manifesto tax pledges as UK growth fails to exceed one per cent for two years running, EY ITEM Club have said, in the latest blow to the chancellor’s fiscal plans The Chancellor has been warned by several forecasters that President Trump’s tariffs will hammer the UK [...]
US tariffs threaten to derail UK economic growth, EY warns April 28, 2025 UK economic growth could slow sharply over the next two years as US tariffs weigh heavy on spending and investment, and uncertainty washes over households and businesses, new forecasts show. Recovery from a period of stagnant growth will be directly hampered by US President Donald Trump’s plans, EY Item Club said in a new report. [...]
Mobico shares crater amid £460m North American school bus sale April 25, 2025 Mobico shares cratered more than 35 per cent on Friday as it announced plans to sell its North American school bus business to the US infrastructure investor, I Squared Capital. The much-anticipated deal is valued at £460m, which is less than analysts had expected. Mobico said it would lead to upfront net proceeds of around [...]
Consumer confidence drops as inflation fears mount April 25, 2025 Brits’ confidence about their own finances, as well as those of the Treasury, has dipped as geopolitical uncertainty mounts. GfK’s long-running confidence index dropped by four points to -23 in April, driven by an eight-point drop in how Brits see the economy and a four-point drop in how Brits see their own finances. The findings [...]
Andrew Bailey: Tariffs could push inflation down April 24, 2025 Bank of England Governor Andrew Bailey has suggested that President Trump’s tariffs will have a disinflationary effect on UK prices unless more retaliatory measures kick into effect. In an interview with CNBC, Bailey said tariffs would slow down UK growth whatever happens but added he would be “encouraged” by a UK trade deal with the [...]
Meta platforms at the heart of Oasis ticket scams, Lloyds reveals April 24, 2025 Meta-owned platforms, particularly Facebook, have become the primary breeding ground for last year’s surge in Oasis ticket scams, according to recent data from Lloyds Banking Group. The bank’s research highlighted that over 90 per cent of reported scams targeting Oasis fans originated on social media, with a staggering 56 per cent of all reported concert [...]
Week in Business: Why a UK-US trade deal won’t save the British economy April 24, 2025 The Chancellor's emergency mercy mission to the US could pay off, but it won't be enough to reverse the damage she's already done to the UK economy.