The Labour government is set to significantly increase funding for clean energy projects, announcing a record £1.5 billion for its summer subsidy auction—a 50% increase over previous figures. This boost aims to revitalise the UK’s clean energy sector after the previous administration failed to secure any new offshore wind contracts in 2023 and did not […]
More than half a million taxpayers, set to receive HMRC’s simple tax assessments for the first time, are being warned not to ignore them to avoid penalties and missed tax deductions, according to leading audit, tax, and business advisory firm Blick Rothenberg. Robert Salter, a Director at the firm, stated: “HMRC has recently announced that […]
Airbus, the global leader in aircraft manufacturing, has conceded that the company is lagging behind on its orders due to supply chain “bottlenecks.” Guillaume Faury, Airbus’s chief executive officer, highlighted the challenges at the Farnborough International Airshow, the premier event for aviation professionals. “We have more demand than the ability to supply,” Faury admitted, citing […]
Labour must allow civil servants the flexibility to work from home by eliminating “arbitrary targets” requiring office attendance for a set number of days each week, union chiefs have asserted. Union leaders are urging Sir Keir Starmer to overturn the previous government’s policy of mandating civil servants to be in the office for the majority […]
Women in their 50s are on the verge of a pension crisis due to substantial caring responsibilities and inadequate retirement savings, according to Catherine Foot, director of Phoenix Insights, a think tank associated with the UK’s largest retirement savings firm. Research from Phoenix Insights indicates that individuals in their 40s and 50s are not saving […]
British tech entrepreneur Mike Lynch is preparing to launch a campaign to support Britons who have been wrongfully convicted in the US, following his acquittal of multi-billion dollar fraud charges. Lynch is considering funding a British equivalent of America’s Innocence Project, an organisation dedicated to overturning wrongful convictions in a country where only 0.4% of […]
Petrol stations have come under fire after overcharging UK motorists by a staggering £1.6 billion last year, according to the Competition and Markets Authority (CMA). The regulator’s findings reveal that fuel margins – the difference between the wholesale cost and the pump price – have remained significantly above pre-pandemic levels. The CMA highlighted that supermarkets […]
John Lewis is set to unveil a wide array of new homeware brands, including a line of pots and pans by actor Stanley Tucci, in a strategic move to rejuvenate its retail offerings and attract middle-class shoppers from rival Marks & Spencer. The renowned department store plans to introduce 36 new lighting, kitchenware, and furniture […]
HMRC has collected an additional £14.4 million in tax from insolvencies over two tax years up to 2023 since it regained its ‘preferential creditor’ status. The preferential status, known as ‘Crown Preference’, was reinstated for HMRC in December 2020, granting it priority in reclaiming taxes owed from insolvent businesses ahead of other unsecured creditors, including […]
Figures released this morning by HM Revenue and Customs (HMRC) reveal that inheritance tax receipts reached £2.1 billion from April to June in the 2024/25 tax year. This figure is £83 million higher than the same period last year, continuing a two-decade trend of increasing receipts. The previous full tax year saw inheritance tax revenue […]