British banking lobby group steering policy for 300+ firms
UK regulators are expanding Buy Now, Pay Later oversight. From July 15, BNPL providers must be authorised by the FCA, undergo affordability checks, and offer clearer information and complaint routes. The changes aim to protect consumers while preserving access to flexible payments.
Banks have reported stronger half-year profits amid sustained higher interest rates, with Barclays, Lloyds, and NatWest expected to post gains. Analysts foresee continued earnings growth as the sector navigates mortgage stress and potential increases in bad debt provisions. The sector remains buoyant but faces scrutiny over tax policy and regulatory expectations.
The BP windfall is driving renewed calls for a windfall tax as profits soar amid Middle East conflict. Campaigners say households face higher bills while governments weigh potential measures to curb corporate gains and accelerate the transition to cleaner energy.
Banks report six-month profits surging across the UK, fueling calls for windfall taxes to fund cost-of-living measures. Campaigners urge government to consider a levy on profits to support households, while bank chiefs caution on lending and growth.
The Royal Mint is releasing 600,000 coins dated 2023 and 6.5 million dated 2026 featuring King Charles’s portrait. The capercaillie design appears on the reverse, as circulation expands amid strong demand. Queen Elizabeth II coins remain legal tender while the transition continues.
Trade unions and the new Labour leadership are pushing for higher taxes on banks’ profits to fund a social tariff that could lower energy bills for millions, as energy costs and inflation remain central to the policy agenda.
Campaign Take Five to Stop Fraud urges Brits to resist politeness when faced with unsolicited requests. A majority say politeness keeps conversations going, aiding fraudsters. The initiative, backed by Craig Revel Horwood, highlights a rise in impersonation scams and emphasizes ending conversations quickly to verify identity.