-
The UK government is recalling lawmakers to debate legislation for the potential nationalisation of British Steel, amid financial instability at its Scunthorpe plant. The move comes as the plant's Chinese owner, Jingye, faces challenges in sustaining operations due to tariffs and market conditions, threatening 2,700 jobs.
-
Tesco announced plans to cut £500 million in costs to offset rising operating expenses and increased national insurance contributions. The supermarket chain faces a price war with rivals and forecasts lower profits for the year, amid concerns about job cuts and higher consumer prices.
-
The UK Cabinet Office announced plans to cut approximately 1,200 jobs and transfer another 900 roles to other departments, representing nearly a third of its workforce. These changes aim to streamline operations and focus on key government priorities, with a goal of saving over £110 million annually by 2028.
-
Ukraine's allies have pledged a record €21 billion in military support amid ongoing Russian aggression. British Defence Secretary John Healey criticized President Putin for delaying peace negotiations while military operations escalate. The meeting in Brussels included over 50 nations, emphasizing the urgency of strengthening Ukraine's defenses as the conflict continues.
-
As the UK faces tariffs imposed by the US, calls for a 'Buy British' campaign are growing. Culture Secretary Lisa Nandy and Chancellor Rachel Reeves have resisted these calls, citing concerns over becoming 'inward-looking.' Polls show significant public support for such a campaign, especially among older demographics.
-
On April 3, 2025, President Trump imposed a 25% tariff on car imports, escalating trade tensions with Canada and Mexico. In response, both countries are considering retaliatory measures, raising fears of a global trade war that could significantly impact economies worldwide. Leaders from both nations have voiced strong opposition to the tariffs.
-
As of April 9, 2025, the UK and India have reportedly agreed on 90% of their free trade agreement, with hopes to finalize it soon. Key issues, including mobility for Indian workers and tariffs on whisky and cars, are being addressed amid a backdrop of global economic uncertainty.
-
As of April 2025, the average price of a pint in the UK is set to exceed £5 for the first time, driven by rising national insurance contributions, increased minimum wage, and reduced business rate discounts. This situation poses significant challenges for the hospitality sector, particularly pubs and restaurants, as they navigate higher operational costs.
-
President Trump's administration is significantly reshaping U.S. cryptocurrency policy while increasing defense spending. The establishment of a Strategic Bitcoin Reserve and a $165 million contract extension for maintaining the Royal Navy's Merlin helicopters highlight this dual focus on national security and technological advancement. This shift follows a recent White House summit with crypto leaders.
-
UK inflation has decreased to 2.8% in February from 3% in January, slightly below analysts' expectations. This decline is attributed to falling clothing prices, particularly for women's apparel. Despite this drop, inflation remains above the Bank of England's 2% target, raising concerns about future price pressures as national insurance and minimum wage increases loom.
-
In a recent spring statement, UK Chancellor Rachel Reeves omitted any mention of climate policy or green investment, raising concerns among experts. With the clean economy growing rapidly, critics argue that neglecting this sector could hinder economic recovery and job creation.
-
A fire at Heathrow Airport's North Hyde substation on March 21 caused a major power outage, disrupting over 200,000 passengers and leading to the cancellation of 1,300 flights. The incident has raised questions about the airport's infrastructure resilience and prompted calls for legal action from airlines. CEO Thomas Woldbye has proposed a £1 billion investment for a more robust power system.
-
Chancellor Rachel Reeves announced a £14 billion package to address the UK's economic challenges, including welfare cuts and increased defence spending. Critics warn her policies may push 250,000 people into poverty, while the economic outlook remains uncertain due to external pressures, including tariffs from the US.
-
Recent claims by Labour's Chancellor Rachel Reeves that household disposable income will rise by £500 have faced scrutiny. Critics argue the figure is misleading, as it reflects growth over the entire parliamentary term rather than annually. Additionally, welfare cuts are projected to push 250,000 people into poverty, raising concerns about the government's economic strategy.
-
Chancellor Rachel Reeves has announced she will no longer accept free concert tickets after facing criticism for attending a show while implementing spending cuts. This decision follows public backlash and scrutiny from fellow politicians regarding the appropriateness of accepting gifts during a cost-of-living crisis.
-
Transport Secretary Heidi Alexander has approved the Lower Thames Crossing project, which includes a 2.6-mile tunnel under the Thames. The £8.3 billion project aims to alleviate congestion and improve connectivity between Kent and Essex, with construction expected to start in 2026.
-
In a recent spring statement, UK Chancellor Rachel Reeves announced a £3.25 billion Transformation fund aimed at enhancing public sector efficiency through AI adoption. This includes a £2.2 billion increase in defense spending, focusing on high-tech weaponry and AI capabilities, aligning with the government's goal to position the UK as a global AI leader.
-
Chancellor Rachel Reeves announced significant welfare cuts in response to a downgraded economic growth forecast, reducing the health element of universal credit and freezing it for new claimants. Households brace for rising costs in April, intensifying pressure on budgets and prompting calls for government intervention.
-
A record 4.5 million children in the UK were living in poverty as of April 2024, according to new statistics. This alarming figure coincides with government benefit cuts, raising concerns about worsening conditions for vulnerable families. Experts warn that without urgent action, child poverty rates could rise further under the current administration.
-
The UK government is bracing for a 10% tariff on British imports announced by President Trump as part of his 'Liberation Day' initiative. Business Secretary Jonathan Reynolds expressed disappointment but emphasized ongoing negotiations to mitigate the impact. The UK is exploring options, including potential concessions on the Digital Services Tax, while preparing for possible retaliatory measures.
-
As the US prepares to impose tariffs on UK imports, Prime Minister Keir Starmer reassures businesses of a calm response. The UK government is negotiating concessions, including potential changes to its digital services tax, to mitigate economic fallout. The situation remains fluid as trade talks continue amid rising tensions.
-
In response to Donald Trump's recent tariff announcements, UK Prime Minister Keir Starmer has pledged to support British businesses and stimulate the economy. The UK faces a 10% tariff on imports and a 25% tariff on foreign cars, prompting concerns over a potential trade war and its impact on the economy.
-
Prime Minister Keir Starmer announced measures to support the UK car and pharmaceutical industries amid economic turmoil from US tariffs. He reinstated a 2030 ban on new petrol and diesel car sales but allowed hybrids until 2035, aiming to bolster domestic manufacturing and trade stability.
-
UK house prices fell by 0.5% in March, marking the steepest decline in a year. The average property value is now £296,699, as buyers adjust to new stamp duty thresholds effective April 1. Despite this drop, annual growth remains steady at 2.8%.
-
Universal Studios has announced plans for a new theme park in Bedford, UK, expected to open in 2031. The project will create approximately 28,000 jobs and generate an estimated £50 billion for the UK economy. The park will feature a 500-room hotel and various attractions based on popular film franchises.
-
A new report reveals that families in parts of England face waiting times for social housing exceeding 100 years. The analysis highlights a growing crisis, particularly in London, where over 1.3 million families are on waiting lists, and homelessness among children has reached record levels.
