Chancellor Rachel Reeves has pledged to review a controversial tax loophole that allows low-value goods from Chinese e-commerce giants such as Shein and Temu to enter the UK without paying customs duties—a move aimed at protecting British retailers from unfair competition and goods being “dumped” on the high street. The scheme, known as the “de […]
Chancellor Rachel Reeves has ruled out any lowering of UK import standards on food and vehicles, including chlorinated chicken, hormone-treated beef and US-made trucks, as trade talks with the Trump administration enter a critical phase. Speaking ahead of her first official meeting with US economic officials in Washington this week, Reeves made it clear that […]
UK luxury brands have been hit with fresh disruption after DHL temporarily suspended shipments worth more than $800 to the United States, as a result of escalating trade restrictions imposed by the Trump administration. The logistics giant halted its business-to-consumer deliveries to the US on Monday, citing a spike in paperwork and customs complexity caused […]
The Confederation of British Industry (CBI) has launched a new Defence & Economic Growth Taskforce aimed at unlocking the potential of the UK’s defence sector to drive long-term national growth, innovation, and economic resilience. Backed by Chancellor Rachel Reeves and Defence Secretary John Healey, the taskforce brings together top-level figures from across the defence, financial, […]
The UK’s office market may have reached a turning point, with vacancy rates falling for the first time since the start of the pandemic. New data reveals a modest but symbolically significant drop in the amount of empty office space, suggesting that businesses are beginning to reclaim the desks they once deserted. According to commercial […]
British Steel has officially withdrawn plans to make up to 2,700 workers at its Scunthorpe plant redundant, following an emergency intervention by the UK government earlier this month that secured the company’s immediate future. The move ends a period of intense uncertainty for employees at the Lincolnshire steelworks, after Chinese-owned parent company Jingye announced its […]
Rachel Reeves faces mounting pressure to either raise taxes or announce deeper spending cuts after official figures revealed that UK borrowing for the last financial year exceeded forecasts by nearly £15 billion. The Office for National Statistics (ONS) reported that public sector borrowing in the 12 months to March reached £151.9 billion—£14.6 billion more than […]
Chancellor Rachel Reeves will travel to Washington this week to make the case for global free trade at the International Monetary Fund’s spring meetings, as Britain faces mounting pressure from punitive tariffs imposed by US President Donald Trump. Reeves will use the high-profile forum — attended by global finance ministers and central bankers — to […]
The UK government has been accused of “sabotaging” its own tourism industry after new figures revealed that international visitor spending fell by more than £2 billion in 2024 compared to pre-pandemic levels, despite a global recovery in travel. According to the World Travel and Tourism Council (WTTC), overseas visitors spent £40.3 billion in the UK […]
More than eight million people will find themselves paying higher rates of income tax by the end of the decade due to the long-term freezing of tax thresholds, according to the UK’s official forecaster. In projections released alongside the March spring statement, the Office for Budget Responsibility (OBR) said that 8.3 million people would be […]