Deputy Prime Minister Angela Rayner is at odds with Business Secretary Jonathan Reynolds over plans to grant workers full employment rights from day one of a job, as concerns grow among businesses about the impact of the proposed reforms. The disagreement centres on how probation periods should function under the new system, which is part […]
Retailers in London’s West End have suffered a £220 million loss in unrealised sales in the first half of 2024, following the UK government’s decision to scrap tax-free shopping for overseas visitors, according to new research by the New West End Company. Despite an increase in international visitors, the area’s retailers are expected to face […]
Rachel Reeves, the Chancellor, has been cautioned that “significant action” is necessary to stabilise the UK’s public finances, according to a report from the Organisation for Economic Co-operation and Development (OECD). The report calls for an overhaul of the fiscal regime, including scrapping stamp duty and scaling back the pension triple lock, as the government […]
Scotland’s last remaining oil refinery at Grangemouth will close between April and June next year, resulting in the loss of 400 jobs and leaving the UK with only a handful of refineries. The closure, announced by Petroineos—a joint venture between Sir Jim Ratcliffe’s Ineos and PetroChina—comes as domestic demand for motor fuels declines, exacerbated by […]
The UK’s public debt could surge to as high as 300% of GDP over the next half-century, driven by escalating costs related to climate change and an ageing population, the Office for Budget Responsibility (OBR) has warned. In its latest report on long-term fiscal risks, the independent watchdog cautions that current policy choices and future […]
HSBC UK has unveiled the HSBC Women’s Business Growth Initiative, a £250 million funding programme designed to support women-led businesses by addressing the critical barrier of access to finance. New research by HSBC reveals that nearly one in five (18%) female business leaders view funding as a significant obstacle to scaling their enterprises. The initiative […]
The UK’s Christmas food deliveries are at risk as new EU border checks could disrupt the flow of fresh goods, warns Logistics UK. The trade group is raising alarms over the EU’s forthcoming Entry/Exit System (EES), set to launch on 10 November, which mandates fingerprint and facial recognition checks for all non-EU passengers at Dover. […]
HM Revenue and Customs (HMRC) has sacked 179 employees for gross misconduct in 2024, the highest number in at least five years, according to data obtained through a freedom of information request. This represents a 43% increase from 2020 when 125 employees were dismissed for similar reasons, accounting for just 28% of all terminations at […]
Chancellor Rachel Reeves has faced criticism after justifying her decision to claim £4,400 in taxpayer-funded expenses for heating her second home, a day after MPs voted to scrap winter fuel payments of up to £300 for millions of pensioners. The decision comes as the government moves to cut benefits for pensioners while maintaining expense claims […]
Angela Rayner, Secretary of State for Housing, Communities and Local Government, has endorsed plans to transform the disused Trelavour clay pit near St Austell into a major lithium mine, a move that could significantly bolster the UK’s battery-making capabilities. The site, operated by Cornish Lithium, is projected to supply 25,000 tonnes of lithium per year […]