Exclusive: Taxpayers to front extra £4bn for recent HS2 delays July 2, 2025 Recent delays to HS2 have increased costs for taxpayers by up to nearly £4bn, according to a government document detailing the value of mega-projects in the UK. The Office for Value for Money, a cost-saving unit set up by Rachel Reeves, found deferrals over the last two years would increase costs on Phase 1 from [...]
Badenoch: Welfare ‘fudge’ driven by ‘panic not principle’ July 1, 2025 Kemi Badenoch has branded Labour’s welfare reforms a “fudge” that will fail to curb the government’s spiralling welfare bill on health and disability benefits. MPs are set to vote on work and pensions secretary Liz Kendall’s welfare bill aimed at getting more inactive Brits back into the national workforce by changing eligibility for personal independence [...]
Billionaire boltholes: Inside Simon Nixon’s SimonEscapes July 1, 2025 Simon Nixon doesn’t seem to fit the mould of the typical tech billionaire. But over the past decade, the moneysupermarket founder has quietly built up a growing collection of ultra discreet, beautifully designed private homes, known collectively as SimonEscapes. The concept is far from a hotel chain. There’s no signature decor shared between destinations, or [...]
How to solve the UK’s non-dom conundrum July 1, 2025 After industry experts poured cold water on Reform’s ‘Britannia Card’, and amid rumours the Chancellor is examining options to row back on elements of her non-dom reforms, Ali Lyon asks what policies might be on the table – and whether they will work. As Nigel Farage stepped up to a mundane-looking podium in a stuffy [...]
£100K isn’t a big salary – and we need to talk about it July 1, 2025 He lives in a grotty flat, shops in Aldi, can barely afford a holiday and earns £100k. Meet Henry: a High Earner Not Rich Yet. He may not attract sympathy, but he’s a symptom a failing economy, says Eliza Filby Nine out of ten Brits earning over £100,000 do not consider themselves wealthy. Maybe you [...]
Government pledges to back UK fintech with regulation overhaul July 1, 2025 The government has pledged a regulation shakeup to support UK fintech as it seeks to slash the red tape blocking innovation. Speaking at City Week, technology secretary Peter Kyle said the government’s new Regulatory Innovation Office (RIO) would develop new smart tools to make navigating regulatory procedures “faster, clearer and more accessible”. This will include [...]
E1 Series in €20m fundraise as it plots expansion and London race July 1, 2025 Celebrity-backed electric powerboating series E1 is seeking around €20m (£17m) from a fresh round of fundraising as it this week steps up plans to secure a race in London. E1 has engaged Rothschild and Co to seek an investor to inject capital, which bosses have earmarked for a second fleet of boats and commercial and [...]
Andrew Bailey warns investment delays hitting UK growth July 1, 2025 Bank of England Governor Andrew Bailey has warned firms are delaying investment plans due to global turmoil, damaging the UK’s economic growth prospects. Markets have restabilised since April when President Trump’s sweeping tariffs threatened to damage international trade while oil prices have fallen since a short-lived conflict between Iran and Israel. But Bailey has warned [...]
Ofgem gives green light to landmark electric grid upgrade July 1, 2025 The UK’s energy regulator has approved a £24bn investment to upgrade the UK’s energy infrastructure as a part of its green transition. The Office of Gas and Electricity Markets (Ofgem) move comes as the government renews its push for cleaner energy, despite backlash around the impact on prices. Over £15bn is set to be deployed [...]
Enjoying Saudi’s Growth July 1, 2025 How $1 trillion investment from PIF, and a fast-growing economy, make a strong investment case for global institutional investors. London, UK – Saudi Arabia’s sweeping urban transformation and ambitious real estate agenda were spotlighted in London at “Capitals London,” a two-day investor briefing held at Grosvenor House, Mayfair. Hosted by Tahaluf, the organizer of Cityscape Global, [...]