Britain’s welfare-state social security funding, via work contributions
Andy Burnham has reiterated that there is room for movement on tax within Labour’s 2024 manifesto while outlining possible changes to business rates to support high streets and pubs. He has not promised revenue-raising measures on income tax, VAT or National Insurance but is considering reforms to business rates and targeted reliefs as part of his broader policy package.
Reuters and independent sources report JD Wetherspoon’s profit outlook has worsened amid higher food, labour and energy costs, as like-for-like sales rise modestly but profit guidance remains cautious. The update follows World Cup-driven sales boosts and a challenging cost environment.
The new government is implementing a VAT cut on electricity bills and a 2 bus fare cap, funded by redirecting savings from a scrapped digital ID programme. Officials say the measures will reduce household costs, while ministers debate expanding the personal allowance. Updates indicate the plan is moving ahead despite questions about funding and timing.
The government has introduced a £30m bursary funded through the growth and skills levy to offset benefit losses for families when their children start apprenticeships. Officials say the measure will encourage youth into work by ensuring households do not lose income, with up to thousands of families benefiting. The plan is part of a broader push to expand technical education and reduce NEETs.
Strathmore Hotels is placed under joint administration as eight hotels, including Perth’s Salutation Hotel, trade while options for the business are reviewed. The move follows sustained creditor pressure and a winding up petition in July; 410 staff are being retained as the portfolio continues operating.
Independent reports that experts advise parents to use Junior ISAs rather than Premium Bonds, with guidance on cash vs stocks and shares JISAs, annual limits, and potential returns; examples include Santander 123 Mini bonuses and practical tips from Holly Mackay of Boring Money.