How worried should Ed Miliband be about the CBI’s net zero U-turn? June 12, 2025 Is the CBI’s about-face on the cost of net zero a case of shameless opportunism or an overdue conversion to common sense, asks James Ford We are arguably living in an age of screeching political U-turns. The government’s abrupt volte-face over withdrawing the Winter Fuel Allowance is probably the most egregious example. Others would include [...]
Economists warn Rachel Reeves could be forced to make ‘£20bn tax grab’ June 11, 2025 Top economists have warned Brits to brace for another wave of painful tax hikes in the autumn after Rachel Reeves unveiled the government’s £190bn spending splurge. After unveiling her Spending Review, which laid out extra spending on the NHS, defence, housing and nuclear energy, the Chancellor told MPs she was committed to ensuring public finances [...]
Spending Review: Reeves piles billions into tech as firms cool on UK June 11, 2025 Chancellor Rachel Reeves bet heavy on tech and innovation in her maiden Spending Review, in a week that saw a trio of tech firms depart from the London Stock Exchange. Reeves hiked research and development funding to a record high of £22.6bn per year by the end of the Spending Review period. She doubled down [...]
Will Reeves’ spending review make UK housing more affordable? June 11, 2025 Rachel Reeves has made housebuilding a central feature of the government’s spending policy. The planning system has been reformed, money has been funnelled into skills and developing brownfield housing, and new towns have been announced. But this afternoon’s spending review has firmly set out the government’s commitments for the sector, and affordable regional housing is [...]
Volvo issues warning despite record UK sales June 11, 2025 Volvo has issued a warning despite its UK sales surging to more than £2bn and its profit almost quadrupling in 2024. The division of the Swedish car-making giant, which is headquartered in Berkshire, has reported a revenue of £2.3bn for its latest financial year, up from the £1.7bn it achieved in 2023. New accounts filed [...]
What changes to the pension salary sacrifice scheme could mean for you? June 11, 2025 A new report from HMRC has raised concerns around changes to the pension salary sacrifice scheme. A report on workplace pensions by HMRC has fuelled speculation around changes to salary sacrifice schemes. The report looked into employers’ behaviours and attitudes on salary sacrifices and looked into how potential reforms to tax reliefs could change these. [...]
Retail shrinks by over 360,000 jobs in a decade June 10, 2025 The number of retail jobs in the UK has shrunk by more than a tenth since 2015, according to new data. There were 2.76m jobs in retail in March 2025, 360,000 fewer than in 2015, according to the latest report by the ONS. The number of full-time jobs has fallen by 117,000 since 2015, while the number [...]
Bellway: Completions surge at FTSE 250 housebuilder June 10, 2025 Bellway has said it expects to see a surge in home completions amid an increase in consumer confidence and reservation rates. The FTSE 250 housebuilder and property developer said it was well-positioned to deliver cumulative volume growth of 20 per cent over the two years to end July 2026. In a trading update, the Newcastle-based [...]
Firstgroup: Profit at Avanti West Coast owner beats expectations June 10, 2025 Transport giant Firstgroup has extended its share buyback program by £50m after annual revenue came in ahead of forecasts. The additional £50m buyback program follows Firstgroup’s return of £92m to shareholders in the 2025 financial year. The group also raised its dividend to 6.5p, up from 5.5p last year. The FTSE 250 company told markets [...]
Unemployment creeps up as firms cut jobs following Reeves tax raid June 10, 2025 The unemployment rate has crept up to 4.6 per cent from 4.5 per cent, official data has revealed, putting Chancellor Reeves’ ambition of growing the UK economy and getting people into work under threat. It is the highest unemployment rate in three years, with the UK economy then recovering from the pandemic. Figures released by [...]