The UK job market continues to cool, with recent figures showing a slowdown in hiring and wage growth, suggesting the impact of higher business taxes and the National Living Wage increase is beginning to settle. The Office for National Statistics (ONS) revealed that the number of people on payrolls fell by 8,000 between June and July, the smallest decline since January. Economists had anticipated a larger drop of 20,000. The unemployment rate remained steady at 4.7 per cent, a four-year high, while job vacancies across the economy dropped by 44,000, marking the 37th consecutive month of decline.<h2>Higher employment costs, slower wage growth</h2>The cooling labour market followed significant changes in April, when the government raised payroll taxes for businesses and increased the national living wage from £11.44 ($15.39) to £12.21 ($16.42) per hour. These moves, alongside a rise in employer national insurance contributions, have increased operational costs for businesses, particularly in sectors such as retail and hospitality. While overall wage growth remained steady at 5 per cent, the rate of growth in private sector wages slowed to 4.8 per cent, the weakest increase since January 2022.The Bank of England is closely monitoring these trends, as wage growth is an important indicator of inflationary pressures. Despite the slowdown in earnings, the Bank’s Monetary Policy Committee recently voted to cut interest rates to 4 per cent, with further cuts expected as inflation continues to ease from its peak in 2022.<h2>Modest outlook amid cooling market</h2>Despite the challenges, some experts are seeing signs of stability. Economists noted that the modest decline in payrolls suggests that the worst impacts of tax hikes and wage increases may be passing. However, the falling number of vacancies, now at their lowest point since April 2021, indicates ongoing caution among employers. Retail and hospitality businesses, facing higher labour costs, are also adjusting their hiring strategies, with a shift towards hiring more experienced workers.While some others acknowledged the positive aspects of the data and emphasised the need for further work to reduce the high unemployment rate. Meanwhile, opposition figures criticised the government’s tax policy, blaming it for constraining business growth.&nbsp;(With inputs from agencies)

Economists had anticipated a larger drop of 20,000. The unemployment rate remained steady at 4.7 per cent, a four-year high, while job vacancies across the economy dropped by 44,000, marking the 37th consecutive month of decline.

The UK job market continues to cool, with recent figures showing a slowdown in hiring and wage growth, suggesting the impact of higher business taxes and the National Living Wage increase is beginning to settle. The Office for National Statistics (ONS) revealed that the number of people on payrolls fell by 8,000 between June and July, the smallest decline since January. Economists had anticipated a larger drop of 20,000. The unemployment rate remained steady at 4.7 per cent, a four-year high, while job vacancies across the economy dropped by 44,000, marking the 37th consecutive month of decline. Higher employment costs, slower wage growth The cooling labour market followed significant changes in April, when the government raised payroll taxes for businesses and increased the national living wage from £11.44 ($15.39) to £12.21 ($16.42) per hour. These moves, alongside a rise in employer national insurance contributions, have increased operational costs for businesses, particularly in sectors such as retail and hospitality. While overall wage growth remained steady at 5 per cent, the rate of growth in private sector wages slowed to 4.8 per cent, the weakest increase since January 2022. The Bank of England is closely monitoring these trends, as wage growth is an important indicator of inflationary pressures. Despite the slowdown in earnings, the Bank’s Monetary Policy Committee recently voted to cut interest rates to 4 per cent, with further cuts expected as inflation continues to ease from its peak in 2022. Modest outlook amid cooling market Despite the challenges, some experts are seeing signs of stability. Economists noted that the modest decline in payrolls suggests that the worst impacts of tax hikes and wage increases may be passing. However, the falling number of vacancies, now at their lowest point since April 2021, indicates ongoing caution among employers. Retail and hospitality businesses, facing higher labour costs, are also adjusting their hiring strategies, with a shift towards hiring more experienced workers. While some others acknowledged the positive aspects of the data and emphasised the need for further work to reduce the high unemployment rate. Meanwhile, opposition figures criticised the government’s tax policy, blaming it for constraining business growth. (With inputs from agencies)

Economists had anticipated a larger drop of 20,000. The unemployment rate remained steady at 4.7 per cent, a four-year high, while job vacancies across the economy dropped by 44,000, marking the 37th consecutive month of decline.

UK job market shows signs of easing as vacancies and payrolls fall

India has been included in the United Kingdom’s expanded “Deport Now Appeal Later” list, which now covers 23 countries. Under this policy, foreign offenders will be deported before they are able to appeal against the decision, according to a report by Indian news agency PTI. Reports in Navbharat Times confirm, based on the latest data, that there are approximately 320 Indian citizens currently imprisoned in the UK who could potentially fall under the new policy's purview.&nbsp;The UK Home Office announced on Sunday that the scope of the scheme will nearly triple, growing from eight countries to 23. The development is part of a wider crackdown on the upsurge of migration and delays in removing convicted criminals. Under this rule, foreign nationals from these countries will be sent back after sentencing, once sentenced, with any appeals handled remotely through video links from overseas.&nbsp;Underscoring the rationale behind the decision, UK Home Secretary Yvette Cooper said, “For far too long, foreign criminals have been exploiting our immigration system, remaining in the UK for months or even years while their appeals drag on. That has to end,” reported news agency PTI.&nbsp;“Those who commit crimes in our country cannot be allowed to manipulate the system, which is why we are restoring control and sending a clear message that our laws must be respected and will be enforced," she added.Also read: <a href="https://www.wionews.com/trending/indians-to-pay-15k-to-enter-us-trump-s-america-will-force-foreigners-to-post-hefty-bond-for-visa-1754383690677">Indians to pay $15k to enter US? Trump's America will force foreigners to post hefty bond for visa</a><h3>Which countries are in the list?</h3>Previously, Finland, Albania, Belize, Nigeria, Estonia, Mauritius, Tanzania, and Kosovo were in the list. But now, the expanded list includes India, Angola, Australia, Canada, Guyana, Indonesia, Botswana, Brunei, Bulgaria, Kenya, Latvia, Lebanon, Malaysia, Uganda, and Zambia.&nbsp;The government of the UK stated that discussions are underway with other nations to join the policy. “We are leading diplomatic efforts to increase the number of countries where foreign criminals can be swiftly returned, and if they want to appeal, they can do so safely from their home country,” said UK Foreign Secretary David Lammy.&nbsp;The home office confirms that the new turn will reduce the burden on British taxpayers, as criminals from these nations previously stayed in the UK for long after finishing their prison sentences.

The UK Home Office said on Sunday that the scope of the policy will nearly triple, and it will grow from eight countries to 23. The policy is part of a wider crackdown on the upsurge of migration and delays in removing convicted criminals.

India has been included in the United Kingdom’s expanded “Deport Now Appeal Later” list, which now covers 23 countries. Under this policy, foreign offenders will be deported before they are able to appeal against the decision, according to a report by Indian news agency PTI. Reports in Navbharat Times confirm, based on the latest data, that there are approximately 320 Indian citizens currently imprisoned in the UK who could potentially fall under the new policy's purview. The UK Home Office announced on Sunday that the scope of the scheme will nearly triple, growing from eight countries to 23. The development is part of a wider crackdown on the upsurge of migration and delays in removing convicted criminals. Under this rule, foreign nationals from these countries will be sent back after sentencing, once sentenced, with any appeals handled remotely through video links from overseas. Underscoring the rationale behind the decision, UK Home Secretary Yvette Cooper said, “For far too long, foreign criminals have been exploiting our immigration system, remaining in the UK for months or even years while their appeals drag on. That has to end,” reported news agency PTI. “Those who commit crimes in our country cannot be allowed to manipulate the system, which is why we are restoring control and sending a clear message that our laws must be respected and will be enforced," she added. Also read: Indians to pay $15k to enter US? Trump's America will force foreigners to post hefty bond for visa Which countries are in the list? Previously, Finland, Albania, Belize, Nigeria, Estonia, Mauritius, Tanzania, and Kosovo were in the list. But now, the expanded list includes India, Angola, Australia, Canada, Guyana, Indonesia, Botswana, Brunei, Bulgaria, Kenya, Latvia, Lebanon, Malaysia, Uganda, and Zambia. The government of the UK stated that discussions are underway with other nations to join the policy. “We are leading diplomatic efforts to increase the number of countries where foreign criminals can be swiftly returned, and if they want to appeal, they can do so safely from their home country,” said UK Foreign Secretary David Lammy. The home office confirms that the new turn will reduce the burden on British taxpayers, as criminals from these nations previously stayed in the UK for long after finishing their prison sentences.

The UK Home Office said on Sunday that the scope of the policy will nearly triple, and it will grow from eight countries to 23. The policy is part of a wider crackdown on the upsurge of migration and delays in removing convicted criminals.

Indians to be thrown out of UK? India added to ‘Deport Now, Appeal Later’ list of 23 nations; Here's who could be affected

AI a boon or a bane? And looks like UK Member of Parliament Mark Sewards is only working on the brighter side as he has introduced an AI prototype in which the people of his constituency could interact with him which he calls 'AI Mark'. Sewards claims it’s ‘the first AI prototype of a British MP’.&nbsp;Speaking of the latest update, the MP posted on X, he wrote, “When constituent and local business owner, Jeremy Smith approached me with this idea, I was very excited to work with him. The AI revolution is happening and we must embrace it or be left behind.” The AI prototype is made in collaboration with Neural Voice.&nbsp;Also read: <a href="https://www.wionews.com/world/pm-modi-lands-in-uk-to-seal-historic-post-brexit-trade-deal-with-keir-starmer-what-does-it-mean-for-both-countries-1753297335082">PM Modi lands in UK to seal historic post-Brexit trade deal with Keir Starmer - What does it mean for both countries?</a>&nbsp;“This prototype AI model offers my constituents an additional way to engage with their MP on local casework and policy issues. It can't ever replace any of the oher work I do and it simply gives people another option to contact me, anytime of day,” he added.&nbsp;

<blockquote class="twitter-tweet">Introducing the first AI prototype of a British MP🇬🇧🤖 When constituent and local business owner, Jeremy Smith, approached me with this idea, I was very excited to work with him. The AI revolution is happening and we must embrace it or be left behind. <a href="https://t.co/Em9aIKaW6K">https://t.co/Em9aIKaW6K</a>&mdash; Mark Sewards MP (@MarkJSewards) <a href="https://twitter.com/MarkJSewards/status/1952752998582485495?ref_src=twsrc%5Etfw">August 5, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

&nbsp;He encouraged residents of Leeds South West and Morley to give AI Mark a try. The MP also said it's only a prototype and will only get better. He said, “This is only a prototype, and everything request will be used to train it to make it better."

AI a boon or a bane? And looks like UK Member of Parliament Mark Sewards is only working on the brighter side as he has introduced an AI prototype in which the people of his constituency could interact with him which he calls 'AI Mark'. 

AI a boon or a bane? And looks like UK Member of Parliament Mark Sewards is only working on the brighter side as he has introduced an AI prototype in which the people of his constituency could interact with him which he calls 'AI Mark'. Sewards claims it’s ‘the first AI prototype of a British MP’. Speaking of the latest update, the MP posted on X, he wrote, “When constituent and local business owner, Jeremy Smith approached me with this idea, I was very excited to work with him. The AI revolution is happening and we must embrace it or be left behind.” The AI prototype is made in collaboration with Neural Voice. Also read: PM Modi lands in UK to seal historic post-Brexit trade deal with Keir Starmer - What does it mean for both countries? “This prototype AI model offers my constituents an additional way to engage with their MP on local casework and policy issues. It can't ever replace any of the oher work I do and it simply gives people another option to contact me, anytime of day,” he added.

AI a boon or a bane? And looks like UK Member of Parliament Mark Sewards is only working on the brighter side as he has introduced an AI prototype in which the people of his constituency could interact with him which he calls 'AI Mark'.&nbsp;

'First AI prototype of a British MP': Meet Mark Sewards, the politician using AI to interact with people

The UK's Deputy Secretary Angela Rayner, in a bold move, has formally demanded an explanation from China about the redacted portion of its planning document for the proposed ‘mega-embassy’ at the Royal Mint Court in London. Rayner has given a two-week deadline to Beijing to respond. China should either submit an unredacted drawing or justify the omission. The final decision on the application for the blueprint is expected on September 9.<h2>What is redacted? Why is it triggering fear in the UK?</h2>The proposed ‘mega-embassy’ drawing submitted by DP9, the planning consultancy representing the Chinese embassy, has some parts which were greyed out ‘for security reasons’. The basement master plan includes two underground suites and a tunnel, which is called by some critics a modern-day ‘spy dungeon’. Moreover, the ‘internal arrangements’ of the Cultural Exchange Building and Embassy House are also hidden.&nbsp;The US have reportedly pressurised the UK to reject the proposal on security grounds. Its proximity to the hub of sensitive communication infrastructures and key financial centres, has given rise to potential espionage risks.The proposed mega-embassy has been there since 2021; the first plan had a 620,000 sq ft diplomatic outpost. It was supposed to be 10 times the size of China’s existing base. It was supposed to contain the embassy, offices, 225 homes and a “cultural exchange” building. But there were significant protests about the location of the site. The Chinese Government had reportedly acquired this property for £255m in 2018. &nbsp;There had been protests from the activists outside the Chinese consulate in Manchester in 2022 and which led to a scuffle with security guards of the building. The fresh revival has sparked serious debates among Britons, with many critics of the Labour Party calling it a new low for the United Kingdom. However, observers, like Luke de Pulford of the Inter-Parliamentary Alliance on China, think that this hints at a denial of the proposed embassy plan.&nbsp;&nbsp;

In a letter, UK Deputy Secretary Angela Rayner has demanded an explanation from Beijing about the greyed-out parts of the drawing of the proposed  ‘mega-embassy’ within two weeks.

The UK's Deputy Secretary Angela Rayner, in a bold move, has formally demanded an explanation from China about the redacted portion of its planning document for the proposed ‘mega-embassy’ at the Royal Mint Court in London. Rayner has given a two-week deadline to Beijing to respond. China should either submit an unredacted drawing or justify the omission. The final decision on the application for the blueprint is expected on September 9. What is redacted? Why is it triggering fear in the UK? The proposed ‘mega-embassy’ drawing submitted by DP9, the planning consultancy representing the Chinese embassy, has some parts which were greyed out ‘for security reasons’. The basement master plan includes two underground suites and a tunnel, which is called by some critics a modern-day ‘spy dungeon’. Moreover, the ‘internal arrangements’ of the Cultural Exchange Building and Embassy House are also hidden. The US have reportedly pressurised the UK to reject the proposal on security grounds. Its proximity to the hub of sensitive communication infrastructures and key financial centres, has given rise to potential espionage risks. The proposed mega-embassy has been there since 2021; the first plan had a 620,000 sq ft diplomatic outpost. It was supposed to be 10 times the size of China’s existing base. It was supposed to contain the embassy, offices, 225 homes and a “cultural exchange” building. But there were significant protests about the location of the site. The Chinese Government had reportedly acquired this property for £255m in 2018. There had been protests from the activists outside the Chinese consulate in Manchester in 2022 and which led to a scuffle with security guards of the building. The fresh revival has sparked serious debates among Britons, with many critics of the Labour Party calling it a new low for the United Kingdom. However, observers, like Luke de Pulford of the Inter-Parliamentary Alliance on China, think that this hints at a denial of the proposed embassy plan.

In a letter, UK Deputy Secretary Angela Rayner has demanded an explanation from Beijing about the greyed-out parts of the drawing of the proposed &nbsp;‘mega-embassy’ within two weeks.

Spy hub at the heart of London? Why China's secret embassy plan is triggering fear in UK

Paan spitting has become a menace in UK's Harrow. Residents have been complaining about the unhygienic paan spots across the streets in the town. Bloody paan stains are seen on dustbins, on pavements, and this has angered many residing in the locality. A video doing the rounds on social media shows the extent of damage caused to civic property. Reports suggest that authorities are holding Indians responsible for the act. As a warning to stop people from spitting, the civic body had installed bi-lingual signboards, in English and Gujarati, across London.&nbsp;<a href="https://www.wionews.com/videos/storm-floris-uk-on-red-alert-danger-to-life-do-not-travel-warnings-in-force-1754369983457/embed">https://www.wionews.com/videos/storm-floris-uk-on-red-alert-danger-to-life-do-not-travel-warnings-in-force-1754369983457/embed</a>&nbsp;While many hopped on to criticise, an X user, Praf, suggested a solution that could possibly bring the situation under control. He wrote, “Why not incentivise people to capture the image on video of these perpetrators, in the act, with all convictions resulting in a £100 reward. Fine the perpetrators £1000, and you’ve got a problem no more. Same solution for those that sub-let houses illegally.”

<blockquote class="twitter-tweet" data-media-max-width="560">Paan spitting is becoming a big problem in Harrow – with stains spreading from Rayners Lane to North Harrow. Residents are calling for more action. Full story on our site, link in bio.<a href="https://twitter.com/hashtag/Harrow?src=hash&amp;ref_src=twsrc%5Etfw">#Harrow</a> <a href="https://twitter.com/hashtag/HarrowNews?src=hash&amp;ref_src=twsrc%5Etfw">#HarrowNews</a> <a href="https://twitter.com/hashtag/RaynersLane?src=hash&amp;ref_src=twsrc%5Etfw">#RaynersLane</a> <a href="https://twitter.com/hashtag/NorthHarrow?src=hash&amp;ref_src=twsrc%5Etfw">#NorthHarrow</a> <a href="https://t.co/CiW8neiMWo">pic.twitter.com/CiW8neiMWo</a>&mdash; Harrow Online (@harrowonline) <a href="https://twitter.com/harrowonline/status/1951723623531847955?ref_src=twsrc%5Etfw">August 2, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Another user said, “Thank Rishi Sunak for importing his fellow countrymen here and giving us the experience.” Following the spitting menace, the authorities have also cracked down on illegal sales of tobacco. This is a mission to keep the city clean. Pritesh Patel, Portfolio Holder for Cleaner Streets &amp; Public Safety, was quoted by news outlet Harrowonline, "Thanks to the work of our Trading Standards officers these products have been taken away and the business is under investigation. Our officers are working hard to keep these illegal products off the streets and will continue to crack down on businesses and individuals found to be ignoring the law. We will continue our work towards keeping Harrow clean and safe.”&nbsp;Ironically, tobacco became a significant cash crop in India on the insistence of the East India Company led by the British, who had colonised India for nearly 200 years.

The UK is reeling under paan spitting menace, and authorities are taking strict action to warn people against it. Civic authorities have installed boards to restrict those partaking from spitting in public places.

Paan spitting has become a menace in UK's Harrow. Residents have been complaining about the unhygienic paan spots across the streets in the town. Bloody paan stains are seen on dustbins, on pavements, and this has angered many residing in the locality. A video doing the rounds on social media shows the extent of damage caused to civic property. Reports suggest that authorities are holding Indians responsible for the act. As a warning to stop people from spitting, the civic body had installed bi-lingual signboards, in English and Gujarati, across London. https://www.wionews.com/videos/storm-floris-uk-on-red-alert-danger-to-life-do-not-travel-warnings-in-force-1754369983457/embed While many hopped on to criticise, an X user, Praf, suggested a solution that could possibly bring the situation under control. He wrote, “Why not incentivise people to capture the image on video of these perpetrators, in the act, with all convictions resulting in a £100 reward. Fine the perpetrators £1000, and you’ve got a problem no more. Same solution for those that sub-let houses illegally.”

The UK is reeling under paan spitting menace, and authorities are taking strict action to warn people against it. Civic authorities have installed boards to restrict those partaking from spitting in public places.

Hypocrisy? UK made tobacco a cash crop in India, now it has issues with paan spitting, illegal tobacco

The United Kingdom has developed a new spy balloon that can fly much higher – almost double – the altitude of a commercial flight and much higher than even military aircraft. These spy balloons, as per reports, are capable of conducting intelligence and surveillance missions. The British Ministry of Defence (MoD) in a statement said that the trials of the so-called spy balloons have been successful. If reports are to be believed, these balloons would, in future, offer low-cost surveillance.<h2>UK's spy balloons</h2>As per a Mirror UK report, the balloons can fly as high as 60,000 and 80,000 feet above the Earth. This is much higher than most military aircraft operate and double the height at which commercial flights fly. These spy balloons would offer surveillance at a much lower cost compared to traditional espionage devices. This is because these balloons won't need a crew on board and can even travel uninterrupted at the extreme altitudes for long periods of time.<h2>What would these balloons be used for?</h2>The spy balloons, as mentioned, would offer a low-cost espionage solution for the United Kingdom Defence forces. In addition, these could also be used to lend support to military operations and aid in reliable communication and fast internet connection to disaster zones or remote areas with no or limited coverage. Additionally, these can help provide information for weather forecasting and climate research.A successful test of the balloons was carried out by the nation in South Dakota, USA, earlier this year. Now, the UK MoD will develop a fleet of this class of balloon.<h2>Inspired by China?</h2>The news of the UK's spy balloon comes two years after the United States shot down a suspected Chinese spy balloon that was spotted flying in its airspace. At the time, the British Defence Secretary Ben Wallace said he would carry out a security review to look at the dangers of spy balloons.Lauding the development of the spy balloons, UK Defence Minister Maria Eagle hailed how the nation was "pushing boundaries" and said that "this innovation is about giving our armed forces the edge – better awareness, better communications, and lower maintenance needs". She noted that "Stratospheric technology like this could transform how we operate in complex environments, keeping our people safer and better informed than ever before," and said that "This successful trial is another example of UK defence pushing boundaries, with real potential to strengthen our future capabilities."

These spy balloons would offer surveillance at a much lower cost compared to traditional espionage devices. Here's all you need to know about UK's new spy balloons.

The United Kingdom has developed a new spy balloon that can fly much higher – almost double – the altitude of a commercial flight and much higher than even military aircraft. These spy balloons, as per reports, are capable of conducting intelligence and surveillance missions. The British Ministry of Defence (MoD) in a statement said that the trials of the so-called spy balloons have been successful. If reports are to be believed, these balloons would, in future, offer low-cost surveillance. UK's spy balloons As per a Mirror UK report, the balloons can fly as high as 60,000 and 80,000 feet above the Earth. This is much higher than most military aircraft operate and double the height at which commercial flights fly. These spy balloons would offer surveillance at a much lower cost compared to traditional espionage devices. This is because these balloons won't need a crew on board and can even travel uninterrupted at the extreme altitudes for long periods of time. What would these balloons be used for? The spy balloons, as mentioned, would offer a low-cost espionage solution for the United Kingdom Defence forces. In addition, these could also be used to lend support to military operations and aid in reliable communication and fast internet connection to disaster zones or remote areas with no or limited coverage. Additionally, these can help provide information for weather forecasting and climate research. A successful test of the balloons was carried out by the nation in South Dakota, USA, earlier this year. Now, the UK MoD will develop a fleet of this class of balloon. Inspired by China? The news of the UK's spy balloon comes two years after the United States shot down a suspected Chinese spy balloon that was spotted flying in its airspace. At the time, the British Defence Secretary Ben Wallace said he would carry out a security review to look at the dangers of spy balloons. Lauding the development of the spy balloons, UK Defence Minister Maria Eagle hailed how the nation was "pushing boundaries" and said that "this innovation is about giving our armed forces the edge – better awareness, better communications, and lower maintenance needs". She noted that "Stratospheric technology like this could transform how we operate in complex environments, keeping our people safer and better informed than ever before," and said that "This successful trial is another example of UK defence pushing boundaries, with real potential to strengthen our future capabilities."

These spy balloons would offer surveillance at a much lower cost compared to traditional espionage devices. Here's all you need to know about UK's new spy balloons.

UK develops 'spy balloons' that fly much higher than military radars can detect — Here's what it can do

In a surprising turn of events, a fraudster identified as James Kenny was exposed in the UK for duping musicians, Hollywood celebrities, and even a foreign government after he masterminded a fake music festival from his elderly mother's kitchen. The scam was exposed by BBC News following its investigation.&nbsp;According to a report by the BBC, James Kenny, previously convicted for fraud, came up with an elaborate pitch promising a multi-million pound festival bigger than a renowned event like Latitude. He claimed to have secured funding from investors such as the co-founder of restaurant chain Leon, John Vincent, to gain widespread credibility within the events.&nbsp;Initially, several in the festival circuit were convinced by his plan. But as time went on, several employees and suppliers, who had been “100% sure” of the festival's legitimacy, gradually began to raise suspicions as critical details failed to materialise.&nbsp;However, following the investigation, he maintained that he had been genuinely interested in organising the festival but offered a public apology to those who had through financial losses.&nbsp;"It was a festival made of paper. Everything kind of unravelled, and I realised it doesn't exist for anybody else but him," a former employee said.&nbsp;Some people believe that Kenny was never truly going to organise his ambitious grand festival. No deposits were paid for bands, license applications were never made, and several of the investors he claimed to be working with have said they never heard of them.&nbsp;The event called ‘Monmouth Rising’ was supposed to be held on a leafy showground outside the Welsh border town, a place typically used for car boot sales rather than festivals with five stages. Promotional material for the festival promised affordable tickets, cashless payments, and no VIP sections.<h3>How was this able to progress so far?</h3>During a crowded town hall meeting in February, the 47-year-old presented elaborate site plans, claiming they were created using the same software used for planning the Paris Olympics. He also claimed that BBC Radio Wales would broadcast the event live and that a morning cannon would shoot bacon sandwiches into the campsite.&nbsp;James Kenny is listed as the director of several small businesses registered under different versions of his name and left behind £27,000 in unpaid County Court Judgments. In 2008, he was found guilty of two counts of fraud for forging the signature of his wife in order to obtain a mortgage payment to repay £15,000 in debts.&nbsp;&nbsp;

Multiple people in the festival circuit were convinced by the fraudster James Kenny's plan. But as time went on, several employees and suppliers, who had been “100% sure” of the festival's legitimacy, gradually began to raise suspicions as critical details failed to materialise.

In a surprising turn of events, a fraudster identified as James Kenny was exposed in the UK for duping musicians, Hollywood celebrities, and even a foreign government after he masterminded a fake music festival from his elderly mother's kitchen. The scam was exposed by BBC News following its investigation. According to a report by the BBC, James Kenny, previously convicted for fraud, came up with an elaborate pitch promising a multi-million pound festival bigger than a renowned event like Latitude. He claimed to have secured funding from investors such as the co-founder of restaurant chain Leon, John Vincent, to gain widespread credibility within the events. Initially, several in the festival circuit were convinced by his plan. But as time went on, several employees and suppliers, who had been “100% sure” of the festival's legitimacy, gradually began to raise suspicions as critical details failed to materialise. However, following the investigation, he maintained that he had been genuinely interested in organising the festival but offered a public apology to those who had through financial losses. "It was a festival made of paper. Everything kind of unravelled, and I realised it doesn't exist for anybody else but him," a former employee said. Some people believe that Kenny was never truly going to organise his ambitious grand festival. No deposits were paid for bands, license applications were never made, and several of the investors he claimed to be working with have said they never heard of them. The event called ‘Monmouth Rising’ was supposed to be held on a leafy showground outside the Welsh border town, a place typically used for car boot sales rather than festivals with five stages. Promotional material for the festival promised affordable tickets, cashless payments, and no VIP sections. How was this able to progress so far? During a crowded town hall meeting in February, the 47-year-old presented elaborate site plans, claiming they were created using the same software used for planning the Paris Olympics. He also claimed that BBC Radio Wales would broadcast the event live and that a morning cannon would shoot bacon sandwiches into the campsite. James Kenny is listed as the director of several small businesses registered under different versions of his name and left behind £27,000 in unpaid County Court Judgments. In 2008, he was found guilty of two counts of fraud for forging the signature of his wife in order to obtain a mortgage payment to repay £15,000 in debts.

Multiple people in the festival circuit were convinced by the fraudster James Kenny's plan. But as time went on, several employees and suppliers, who had been “100% sure” of the festival's legitimacy, gradually began to raise suspicions as critical details failed to materialise.

Fraudster James Kenny dupes celebs, investors and govt with fake UK music event

British consumer confidence took a sharp hit last quarter, marking its biggest fall since late 2022. This comes amid inflation concerns and job market anxiety continue to weigh heavily on households. That’s according to a new Deloitte survey, which warns of deepening worries over income, debt, and employment security.&nbsp;As per the Deloitte survey, the UK's consumer confidence index dropped by 2.6 percentage points to 10.4% in the second quarter of 2025, the lowest level since Q1 2024. This is the first major fall in almost three years, excluding a minor 0.2-point dip last year, which the firm said was statistically insignificant. The last time confidence plunged at this scale was during the third quarter of 2022, when inflation peaked above 10 per cent and financial markets were rattled by then Prime Minister Liz Truss’ controversial mini-budget.<h2>Job market jitters dominate household fears</h2>Deloitte’s survey revealed that worries over job security and income growth were the main drivers of the decline in sentiment. “Concerns of a slowing labour market have left consumers worried… while persistent inflation and a high cost of living have negatively impacted sentiment towards personal debt,” said Celine Fenech, Deloitte’s consumer insight lead.&nbsp;The findings come just days after official data showed the UK unemployment rate rose to 4.7% in the three months to May, its highest since 2021. At the same time, inflation accelerated to 3.6% in June, a six-month high.<h2>Hiring slowdown adds to economic unease</h2>Employers have been warning about rising employment costs. The higher national minimum wage, rolled out in April, along with increased employment taxes and planned legal changes making it harder to dismiss staff, have made businesses more reluctant to hire, according to industry groups.&nbsp;While Deloitte’s data reflects rising household concern, it contrasts slightly with GfK’s sentiment survey, Britain’s longest-running, which showed consumer morale climbing to its highest since December.<h2>Economic outlook still uncertain</h2>Deloitte’s survey, based on responses from 3,200 consumers between June 13 and 16, measures six key factors: job security, job opportunities, income, debt, children’s welfare, and general health and wellbeing. Interestingly, a separate question on the state of the overall economy showed a 3.9-point improvement from the previous quarter, though sentiment is still 18.4 percentage points below where it stood a year ago.&nbsp;“Activity in the UK has slowed in recent months,” said Deloitte chief economist Ian Stewart, “but an uptick in business confidence seen in the latest Deloitte CFO Survey testifies to continued resilience amid geopolitical uncertainties.”&nbsp;The sharp drop in consumer sentiment adds to signs that Britain’s economy may be entering a more fragile phase, with households squeezed by inflation, businesses slowing hiring, and the job market showing cracks. Whether recent upticks in business confidence can reverse the mood remains to be seen.&nbsp;(With inputs from the agencies) &nbsp;

Key factors include worries over job security and income growth, exacerbated by rising unemployment and inflation. While business confidence slightly improved, the overall economic outlook remains uncertain, indicating a fragile phase.

British consumer confidence took a sharp hit last quarter, marking its biggest fall since late 2022. This comes amid inflation concerns and job market anxiety continue to weigh heavily on households. That’s according to a new Deloitte survey, which warns of deepening worries over income, debt, and employment security. As per the Deloitte survey, the UK's consumer confidence index dropped by 2.6 percentage points to 10.4% in the second quarter of 2025, the lowest level since Q1 2024. This is the first major fall in almost three years, excluding a minor 0.2-point dip last year, which the firm said was statistically insignificant. The last time confidence plunged at this scale was during the third quarter of 2022, when inflation peaked above 10 per cent and financial markets were rattled by then Prime Minister Liz Truss’ controversial mini-budget. Job market jitters dominate household fears Deloitte’s survey revealed that worries over job security and income growth were the main drivers of the decline in sentiment. “Concerns of a slowing labour market have left consumers worried… while persistent inflation and a high cost of living have negatively impacted sentiment towards personal debt,” said Celine Fenech, Deloitte’s consumer insight lead. The findings come just days after official data showed the UK unemployment rate rose to 4.7% in the three months to May, its highest since 2021. At the same time, inflation accelerated to 3.6% in June, a six-month high. Hiring slowdown adds to economic unease Employers have been warning about rising employment costs. The higher national minimum wage, rolled out in April, along with increased employment taxes and planned legal changes making it harder to dismiss staff, have made businesses more reluctant to hire, according to industry groups. While Deloitte’s data reflects rising household concern, it contrasts slightly with GfK’s sentiment survey, Britain’s longest-running, which showed consumer morale climbing to its highest since December. Economic outlook still uncertain Deloitte’s survey, based on responses from 3,200 consumers between June 13 and 16, measures six key factors: job security, job opportunities, income, debt, children’s welfare, and general health and wellbeing. Interestingly, a separate question on the state of the overall economy showed a 3.9-point improvement from the previous quarter, though sentiment is still 18.4 percentage points below where it stood a year ago. “Activity in the UK has slowed in recent months,” said Deloitte chief economist Ian Stewart, “but an uptick in business confidence seen in the latest Deloitte CFO Survey testifies to continued resilience amid geopolitical uncertainties.” The sharp drop in consumer sentiment adds to signs that Britain’s economy may be entering a more fragile phase, with households squeezed by inflation, businesses slowing hiring, and the job market showing cracks. Whether recent upticks in business confidence can reverse the mood remains to be seen. (With inputs from the agencies)

British consumer confidence plummeted last quarter, registering its steepest decline since late 2022, amid persistent inflation and job market concerns. A Deloitte survey revealed a drop of 2.6 percentage points in the UK’s consumer confidence index, marking the lowest level since Q1 2024.

UK consumer sentiment posts steepest drop in nearly 3 years: Deloitte

The UK’s annual inflation rate rose to 3.6 per cent in June 2025, up from 3.4 per cent in May, according to the latest figures from the Office for National Statistics (ONS). This increase was primarily driven by higher motor fuel costs and rising food price inflation, which continued its upward trend for the third consecutive month. Economists had predicted a more modest rise, with many forecasting inflation to remain at 3.4 per cent. The unexpected jump is seen as a result of fuel prices, which didn’t fall as significantly this year compared to the same time in 2024. Additionally, food price inflation reached its highest annual rate since February 2024, although it remains well below the peak levels seen in early 2023.<h2>Core inflation shows steady rise</h2>Excluding volatile items like food, energy, alcohol, and tobacco, core inflation also saw a slight increase. The core consumer prices index (CPI), which focuses on these more stable categories, rose by 3.7 per cent in the year to June, up from 3.5 per cent in May. The rise in core inflation suggests that underlying price pressures are still evident in the UK economy, despite recent efforts by the Bank of England to control inflation through interest rate hikes.The transport sector, particularly motor fuels, was the largest contributor to the increase in both the Consumer Prices Index (CPI) and the Consumer Prices Index including owner occupiers' housing costs (CPIH). On the other hand, housing costs, including owner occupiers' housing costs, provided a downward push in CPIH, partially offsetting the rise in transport costs.<h2>Bank of England's interest rate strategy faces pressure</h2>In response to the rising inflation, attention is now turning to the Bank of England (BoE) and its interest rate policy. Despite the unexpected inflationary increase, the BoE is still widely expected to reduce interest rates later this summer. This comes after the BoE had already cut rates from 5.25 per cent to 4.25 per cent earlier this year.Analysts believe that the BoE is likely to proceed with further gradual rate cuts in the coming months, possibly starting in August, to support an economy showing signs of stagnation. The UK’s recent economic contraction in May added pressure on the BoE, with experts warning that a sluggish economy might not respond well to further rate hikes. The Bank has also noted that global uncertainties, particularly the introduction of tariffs by the US, could complicate the inflationary outlook.Finance Minister Rachel Reeves acknowledged that while inflation remains a concern, the government is working to alleviate the cost of living pressures faced by households. However, opposition figures criticised the government for its handling of inflation, with some warning that it could lead to further financial hardship for families across the country.

Excluding volatile items like food, energy, alcohol, and tobacco, core inflation also saw a slight increase. The core consumer prices index, which focuses on these more stable categories, rose by 3.7 per cent in the year to June, up from 3.5 per cent in May. 

The UK’s annual inflation rate rose to 3.6 per cent in June 2025, up from 3.4 per cent in May, according to the latest figures from the Office for National Statistics (ONS). This increase was primarily driven by higher motor fuel costs and rising food price inflation, which continued its upward trend for the third consecutive month. Economists had predicted a more modest rise, with many forecasting inflation to remain at 3.4 per cent. The unexpected jump is seen as a result of fuel prices, which didn’t fall as significantly this year compared to the same time in 2024. Additionally, food price inflation reached its highest annual rate since February 2024, although it remains well below the peak levels seen in early 2023. Core inflation shows steady rise Excluding volatile items like food, energy, alcohol, and tobacco, core inflation also saw a slight increase. The core consumer prices index (CPI), which focuses on these more stable categories, rose by 3.7 per cent in the year to June, up from 3.5 per cent in May. The rise in core inflation suggests that underlying price pressures are still evident in the UK economy, despite recent efforts by the Bank of England to control inflation through interest rate hikes. The transport sector, particularly motor fuels, was the largest contributor to the increase in both the Consumer Prices Index (CPI) and the Consumer Prices Index including owner occupiers' housing costs (CPIH). On the other hand, housing costs, including owner occupiers' housing costs, provided a downward push in CPIH, partially offsetting the rise in transport costs. Bank of England's interest rate strategy faces pressure In response to the rising inflation, attention is now turning to the Bank of England (BoE) and its interest rate policy. Despite the unexpected inflationary increase, the BoE is still widely expected to reduce interest rates later this summer. This comes after the BoE had already cut rates from 5.25 per cent to 4.25 per cent earlier this year. Analysts believe that the BoE is likely to proceed with further gradual rate cuts in the coming months, possibly starting in August, to support an economy showing signs of stagnation. The UK’s recent economic contraction in May added pressure on the BoE, with experts warning that a sluggish economy might not respond well to further rate hikes. The Bank has also noted that global uncertainties, particularly the introduction of tariffs by the US, could complicate the inflationary outlook. Finance Minister Rachel Reeves acknowledged that while inflation remains a concern, the government is working to alleviate the cost of living pressures faced by households. However, opposition figures criticised the government for its handling of inflation, with some warning that it could lead to further financial hardship for families across the country.

Excluding volatile items like food, energy, alcohol, and tobacco, core inflation also saw a slight increase. The core consumer prices index, which focuses on these more stable categories, rose by 3.7 per cent in the year to June, up from 3.5 per cent in May.&nbsp;

UK inflation surges to 3.6% in June, exceeding expectations

As Britain’s Labour government scrambles to plug a major fiscal gap, calls are growing for a wealth tax on the country’s richest. But according to tax experts and economists, the odds of implementing such a policy in the near term remain close to zero. Chancellor of the Exchequer Rachel Reeves may face a shortfall of up to £30 billion ($40 billion) in her autumn budget, after Labour was forced to reverse welfare cuts amid intense internal backlash. Constrained by pre-election promises not to raise key taxes like income tax, national insurance, or VAT, the government is now under pressure to explore alternative ways to raise revenue.&nbsp;For many Labour backbenchers and left-leaning groups, the answer is simple: tax the wealthy. Veteran MP Diane Abbott, as well as MPs Richard Burgon, Andy McDonald, and Rebecca Long Bailey, have all floated a wealth levy on assets above £10 million. Former Labour leader Neil Kinnock, usually seen as a party moderate, also backed the idea last week, adding weight to the growing internal momentum.&nbsp;Prime Minister Keir Starmer has so far refused to rule it out. When pressed by Conservative Leader Kemi Badenoch this week, Starmer deflected. His spokesperson later said only that the government was “committed to ensuring the wealthiest in society are paying their fair share of tax.”But experts say a wealth tax is not coming any time soon.<h2>“Zero chance” of wealth tax in next budget</h2>Andy Summers, associate professor at the London School of Economics and co-author of the UK Wealth Tax Commission’s 2020 report, told Bloomberg that there was “zero chance” of a wealth tax being introduced in Reeves’s upcoming budget. “Unless the Treasury has been secretly working on it for many months or years, then it just can’t be done,” Summers said.&nbsp;His view is echoed by Stuart Adam, senior economist at the Institute for Fiscal Studies, who noted that it would take “several years” to build the data infrastructure and legal frameworks needed to value and track individual wealth. In the UK, there is no current requirement to report total net worth, making the starting point difficult. Summers also warned that valuation challenges, especially of property, pensions, and non-liquid assets, would make implementation costly and complex. His commission had recommended taxing wealth above £10 million, as doing so at lower levels would be economically inefficient.<h2>Pandemic-era proposals no longer viable</h2>While the idea of a one-off wealth tax gained traction during the COVID-19 pandemic, experts say the political and economic conditions have shifted. In 2020, Summers’ team estimated that a five-year levy of 1% on assets over £10 million could raise £43 billion. But, according to him, the credibility of such a “one-off” has weakened. “The wealthy are less likely to believe it would stay as a one-off,” he told Bloomberg.&nbsp;Still, proposals continue to resurface. Kinnock recently backed a 2% annual levy on wealth above £10 million, a figure mirrored by several Labour MPs in recent debates.<h2>A symbol more than a policy?</h2>Despite its political appeal, many economists remain sceptical. Dan Neidle, founder of Tax Policy Associates, described a wealth tax as “a cute political slogan, but not a tax policy.” He recommended focusing on tightening existing taxes, like capital gains and inheritance tax, to raise revenue more effectively and quickly.&nbsp;Indeed, the global track record for wealth taxes is patchy. Germany, France, Sweden, and the Netherlands all tried them, only to repeal the measures due to loopholes, exemptions, and capital flight. Summers warned that the same fate could await any UK version. “When you start to leave those gaps, the whole thing collapses,” he said.<h2>Political pressure mounting</h2>Despite the practical hurdles, Labour may continue to float the idea of a wealth tax for symbolic reasons. The left wing of the party, which played a key role in forcing Reeves to reverse disability benefit cuts earlier this month, is keen to see a stronger stance on economic fairness. Rob Ford, professor of political science at the University of Manchester, told Bloomberg: “What Starmer and Reeves have learned the very hard way is that symbolic politics matters as much as substance.”&nbsp;He added: “Everybody to the left likes the idea of a wealth tax and it’s an easy political argument to make. Political symbolism is not nothing.” But symbolism alone won’t plug a £30 billion budget hole. And without the legal and data frameworks in place, experts say a wealth tax may remain more of a political talking point than a realistic fiscal solution, at least for now.&nbsp;&nbsp;

Facing a looming fiscal shortfall, Britain Labour government is under pressure to tax the super rich. But economists warn a wealth tax remains highly unlikely in the near term due to legal, data, and implementation hurdles.

As Britain’s Labour government scrambles to plug a major fiscal gap, calls are growing for a wealth tax on the country’s richest. But according to tax experts and economists, the odds of implementing such a policy in the near term remain close to zero. Chancellor of the Exchequer Rachel Reeves may face a shortfall of up to £30 billion ($40 billion) in her autumn budget, after Labour was forced to reverse welfare cuts amid intense internal backlash. Constrained by pre-election promises not to raise key taxes like income tax, national insurance, or VAT, the government is now under pressure to explore alternative ways to raise revenue. For many Labour backbenchers and left-leaning groups, the answer is simple: tax the wealthy. Veteran MP Diane Abbott, as well as MPs Richard Burgon, Andy McDonald, and Rebecca Long Bailey, have all floated a wealth levy on assets above £10 million. Former Labour leader Neil Kinnock, usually seen as a party moderate, also backed the idea last week, adding weight to the growing internal momentum. Prime Minister Keir Starmer has so far refused to rule it out. When pressed by Conservative Leader Kemi Badenoch this week, Starmer deflected. His spokesperson later said only that the government was “committed to ensuring the wealthiest in society are paying their fair share of tax.” But experts say a wealth tax is not coming any time soon. “Zero chance” of wealth tax in next budget Andy Summers, associate professor at the London School of Economics and co-author of the UK Wealth Tax Commission’s 2020 report, told Bloomberg that there was “zero chance” of a wealth tax being introduced in Reeves’s upcoming budget. “Unless the Treasury has been secretly working on it for many months or years, then it just can’t be done,” Summers said. His view is echoed by Stuart Adam, senior economist at the Institute for Fiscal Studies, who noted that it would take “several years” to build the data infrastructure and legal frameworks needed to value and track individual wealth. In the UK, there is no current requirement to report total net worth, making the starting point difficult. Summers also warned that valuation challenges, especially of property, pensions, and non-liquid assets, would make implementation costly and complex. His commission had recommended taxing wealth above £10 million, as doing so at lower levels would be economically inefficient. Pandemic-era proposals no longer viable While the idea of a one-off wealth tax gained traction during the COVID-19 pandemic, experts say the political and economic conditions have shifted. In 2020, Summers’ team estimated that a five-year levy of 1% on assets over £10 million could raise £43 billion. But, according to him, the credibility of such a “one-off” has weakened. “The wealthy are less likely to believe it would stay as a one-off,” he told Bloomberg. Still, proposals continue to resurface. Kinnock recently backed a 2% annual levy on wealth above £10 million, a figure mirrored by several Labour MPs in recent debates. A symbol more than a policy? Despite its political appeal, many economists remain sceptical. Dan Neidle, founder of Tax Policy Associates, described a wealth tax as “a cute political slogan, but not a tax policy.” He recommended focusing on tightening existing taxes, like capital gains and inheritance tax, to raise revenue more effectively and quickly. Indeed, the global track record for wealth taxes is patchy. Germany, France, Sweden, and the Netherlands all tried them, only to repeal the measures due to loopholes, exemptions, and capital flight. Summers warned that the same fate could await any UK version. “When you start to leave those gaps, the whole thing collapses,” he said. Political pressure mounting Despite the practical hurdles, Labour may continue to float the idea of a wealth tax for symbolic reasons. The left wing of the party, which played a key role in forcing Reeves to reverse disability benefit cuts earlier this month, is keen to see a stronger stance on economic fairness. Rob Ford, professor of political science at the University of Manchester, told Bloomberg: “What Starmer and Reeves have learned the very hard way is that symbolic politics matters as much as substance.” He added: “Everybody to the left likes the idea of a wealth tax and it’s an easy political argument to make. Political symbolism is not nothing.” But symbolism alone won’t plug a £30 billion budget hole. And without the legal and data frameworks in place, experts say a wealth tax may remain more of a political talking point than a realistic fiscal solution, at least for now.

As Labour faces a £30 billion budget gap, internal calls for a UK wealth tax grow louder—but tax experts say it's politically symbolic, not practically viable.

UK wealth tax faces long odds despite pressure on Labour budget

The UK economy unexpectedly contracted in May, marking its second consecutive monthly decline and raising concerns about the strength of the country’s post-pandemic recovery. According to data released by the Office for National Statistics (ONS) on July 11, gross domestic product (GDP) fell by 0.1 per cent in May, following a sharper 0.3 per cent drop in April. The contraction caught analysts off guard, as consensus forecasts had anticipated modest growth of 0.1 per cent. The latest figures point to a significant slowdown in the second quarter after the economy posted a 0.7 per cent expansion in the first three months of the year.May’s downturn was led by a 0.9 per cent drop in production output and a 0.6 per cent decline in construction. Manufacturing, particularly car production and the volatile pharmaceutical sector, weakened, while oil and gas extraction also contributed to the slump. In contrast, the services sector registered some growth, with improvements in legal services helping to partially offset the wider downturn. Retail performance remained notably weak during the month, adding further pressure to the overall economic picture. The May contraction dragged the pound down by 0.2 per cent against the dollar, reflecting growing investor unease.<h2>Tariffs, tax rises, and uncertain outlook</h2>The UK’s economic momentum has struggled to recover from the combined impact of global trade disruptions and domestic fiscal changes. The contraction in April had already been attributed to the introduction of new domestic tax rises and the shockwaves from US President Donald Trump’s sweeping tariff announcements, which included a 10 per cent reciprocal tariff on UK goods.Despite securing a bilateral trade deal with the United States, the UK has not been insulated from the broader uncertainty caused by shifting global trade dynamics. The initial surge in export activity during the first quarter—fuelled by businesses rushing to beat US tariffs—now appears to have been a one-off boost rather than a sign of sustained growth.Although GDP grew 0.5 per cent in the March-to-May period, the back-to-back contractions in April and May point to a fragile economic environment. Economists now expect GDP growth to decelerate sharply in the second quarter, with revised forecasts predicting only 0.1 per cent growth, far below earlier expectations.Meanwhile, the Bank of England, which has already cut interest rates from 5.25 per cent to 4.25 per cent over the past year, faces mounting pressure to act again. Market pricing now reflects an 80 per cent likelihood of a further rate cut in August, despite inflation remaining above 3 per cent.As the government prepares its autumn budget, rising public debt and recent policy U-turns, particularly on welfare and winter fuel support, have limited fiscal flexibility. With public finances under strain and tax rises looming, economists warn that growth could remain subdued for the rest of the year.

UK's GDP fell by 0.1 per cent in May, following a sharper 0.3 per cent drop in April. May's downturn was led by a 0.9 per cent drop in production output and a 0.6 per cent decline in construction. 

The UK economy unexpectedly contracted in May, marking its second consecutive monthly decline and raising concerns about the strength of the country’s post-pandemic recovery. According to data released by the Office for National Statistics (ONS) on July 11, gross domestic product (GDP) fell by 0.1 per cent in May, following a sharper 0.3 per cent drop in April. The contraction caught analysts off guard, as consensus forecasts had anticipated modest growth of 0.1 per cent. The latest figures point to a significant slowdown in the second quarter after the economy posted a 0.7 per cent expansion in the first three months of the year. May’s downturn was led by a 0.9 per cent drop in production output and a 0.6 per cent decline in construction. Manufacturing, particularly car production and the volatile pharmaceutical sector, weakened, while oil and gas extraction also contributed to the slump. In contrast, the services sector registered some growth, with improvements in legal services helping to partially offset the wider downturn. Retail performance remained notably weak during the month, adding further pressure to the overall economic picture. The May contraction dragged the pound down by 0.2 per cent against the dollar, reflecting growing investor unease. Tariffs, tax rises, and uncertain outlook The UK’s economic momentum has struggled to recover from the combined impact of global trade disruptions and domestic fiscal changes. The contraction in April had already been attributed to the introduction of new domestic tax rises and the shockwaves from US President Donald Trump’s sweeping tariff announcements, which included a 10 per cent reciprocal tariff on UK goods. Despite securing a bilateral trade deal with the United States, the UK has not been insulated from the broader uncertainty caused by shifting global trade dynamics. The initial surge in export activity during the first quarter—fuelled by businesses rushing to beat US tariffs—now appears to have been a one-off boost rather than a sign of sustained growth. Although GDP grew 0.5 per cent in the March-to-May period, the back-to-back contractions in April and May point to a fragile economic environment. Economists now expect GDP growth to decelerate sharply in the second quarter, with revised forecasts predicting only 0.1 per cent growth, far below earlier expectations. Meanwhile, the Bank of England, which has already cut interest rates from 5.25 per cent to 4.25 per cent over the past year, faces mounting pressure to act again. Market pricing now reflects an 80 per cent likelihood of a further rate cut in August, despite inflation remaining above 3 per cent. As the government prepares its autumn budget, rising public debt and recent policy U-turns, particularly on welfare and winter fuel support, have limited fiscal flexibility. With public finances under strain and tax rises looming, economists warn that growth could remain subdued for the rest of the year.

UK's GDP fell by 0.1 per cent in May, following a sharper 0.3 per cent drop in April. May's downturn was led by a 0.9 per cent drop in production output and a 0.6 per cent decline in construction.&nbsp;

UK economy shrinks again in May, signalling fragile recovery

Four people have been arrested in the West Midlands, Staffordshire and London on Thursday as part of the cyber-attacks that have caused havoc at Marks &amp; Spencer, Co-op and Harrods. The National Crime Agency confirmed that two 19-year-old men, a 17-year-old boy and a 20-year-old woman, had been arrested on suspicion of breaching the Computer Misuse Act, money laundering, blackmail and joining the activities of organised crime.Paul Foster, the head of the NCA’s national cybercrime unit, told the Guardian, “Since these attacks took place, specialist NCA cybercrime investigators have been working at pace and the investigation remains one of the agency’s highest priorities."“Today’s arrests are a significant step in that investigation, but our work continues, alongside partners in the UK and overseas, to ensure those responsible are identified and brought to justice," he added.According to a report in the BBC, all four individuals were apprehended at their homes in the early hours of Thursday, and the police also seized electronic devices. The report confirmed that one of the suspects, a 19-year-old man, is from Latvia, and the rest of them are from the UK.<h3>How big a disruption was caused to Co-op and M&amp;S?</h3>The cyberattacks, which began in mid-April, have caused severe disruption to both retailers. Several Co-op shelves remained empty for weeks, while M&amp;S has said the cyberattack will continue to disrupt its operations until late July, with some IT systems may not be able to be fully restored before October or November.M&amp;S chairman told MPs this week that the cyberattack felt like a deliberate attempt to destroy the company, with the retailer estimating a £300 million hit to its profits. Harrods was also targeted but suffered less operational impact.BBC disclosed that M&amp;S was the first victim of the breach, during which hackers stole a large volume of sensitive data from both customers and staff. The attackers also used ransomware to cripple the company's IT systems, rendering them unusable unless a ransom was paid. The hackers sent a threatening and offensive email to the M&amp;S CEO demanding payment. Days later, the Co-op was also hit, with criminals stealing the private data of millions of its customers and employees.

All four individuals were apprehended at their homes in the early hours of Thursday, and electronic devices were also seized by the police. The report confirmed that one of the suspects, a 19-year-old man, is from Latvia, and the rest of them are from the UK.

Four people have been arrested in the West Midlands, Staffordshire and London on Thursday as part of the cyber-attacks that have caused havoc at Marks & Spencer, Co-op and Harrods. The National Crime Agency confirmed that two 19-year-old men, a 17-year-old boy and a 20-year-old woman, had been arrested on suspicion of breaching the Computer Misuse Act, money laundering, blackmail and joining the activities of organised crime. Paul Foster, the head of the NCA’s national cybercrime unit, told the Guardian, “Since these attacks took place, specialist NCA cybercrime investigators have been working at pace and the investigation remains one of the agency’s highest priorities." “Today’s arrests are a significant step in that investigation, but our work continues, alongside partners in the UK and overseas, to ensure those responsible are identified and brought to justice," he added. According to a report in the BBC, all four individuals were apprehended at their homes in the early hours of Thursday, and the police also seized electronic devices. The report confirmed that one of the suspects, a 19-year-old man, is from Latvia, and the rest of them are from the UK. How big a disruption was caused to Co-op and M&S? The cyberattacks, which began in mid-April, have caused severe disruption to both retailers. Several Co-op shelves remained empty for weeks, while M&S has said the cyberattack will continue to disrupt its operations until late July, with some IT systems may not be able to be fully restored before October or November. M&S chairman told MPs this week that the cyberattack felt like a deliberate attempt to destroy the company, with the retailer estimating a £300 million hit to its profits. Harrods was also targeted but suffered less operational impact. BBC disclosed that M&S was the first victim of the breach, during which hackers stole a large volume of sensitive data from both customers and staff. The attackers also used ransomware to cripple the company's IT systems, rendering them unusable unless a ransom was paid. The hackers sent a threatening and offensive email to the M&S CEO demanding payment. Days later, the Co-op was also hit, with criminals stealing the private data of millions of its customers and employees.

All four individuals were apprehended at their homes in the early hours of Thursday, and electronic devices were also seized by the police. The report confirmed that one of the suspects, a 19-year-old man, is from Latvia, and the rest of them are from the UK.

Teens among four arrested in UK over cyber-attacks on Marks & Spencer, Co-op and Harrods

The UK is facing a fresh wave of inflationary pressures, as the cost of shipping goods, particularly from China, has surged sharply in recent months. Shipping rates for a 40-foot container from China to the UK have spiked by about 60 per cent over the past three months, reaching $3,305, according to shipping analytics company Xeneta. This rise follows a similar trend seen in maritime consultancy Drewry’s weekly shipping gauge, which also recorded significant cost increases. The surge in shipping rates is largely driven by demand from US businesses rushing to import goods before new tariff hikes imposed by President Donald Trump take effect.&nbsp;This recent surge in demand has absorbed available shipping capacity, pushing up costs for other trade routes, including those to the UK and mainland Europe. While the shipping industry has not yet returned to the exorbitant levels seen post-pandemic, economists warn that these cost increases could put further strain on UK retailers and consumers alike.<h2>Inflation outlook complicated by shipping costs</h2>The rising shipping costs come at a time when UK inflation has been higher than expected, with the Bank of England aiming to bring down interest rates. These increased logistics expenses threaten to complicate the central bank’s plan. The British Retail Consortium (BRC) has highlighted how inflated freight prices are exacerbating already thin profit margins for UK retailers. In a competitive, low-margin market, these rising logistics costs are expected to be passed on to consumers, pushing up retail prices.Economists estimate that the higher shipping costs could add as much as 0.3 percentage points to the UK’s Consumer Price Index (CPI) in the third quarter of 2025, bringing inflation to around 3.6 per cent. While some analysts believe that the shipping cost increases may be temporary and linked to changes in US trade policies, UK businesses, already facing higher payroll taxes, minimum wage increases, and reduced profits, are unlikely to absorb these added expenses without adjusting prices.<h2>Retail and manufacturing sectors face squeeze</h2>The sectors most vulnerable to these shipping cost increases are retail and manufacturing. UK retailers, particularly supermarkets and e-commerce giants, rely heavily on imports from Asia, making them particularly sensitive to rising logistics costs. Tesco reported a 6 per cent increase in logistics costs in its 2024 earnings report, while economists warned that persistent supply chain pressures could negatively impact future profits. Similarly, UK manufacturers like Rolls-Royce, which depend on global supply chains, are also feeling the pressure from higher shipping and input costs.The UK’s logistics performance index has dropped significantly, falling from 4th to 19th globally since 2020, exposing systemic inefficiencies that are exacerbating these cost pressures. While transport inflation has temporarily eased, the underlying risk of further shipping disruptions remains high, particularly given ongoing geopolitical uncertainties and volatile global trade dynamics.

The surge in shipping costs is largely driven by demand from US businesses rushing to import goods before new tariff hikes imposed by President Donald Trump take effect.

The UK is facing a fresh wave of inflationary pressures, as the cost of shipping goods, particularly from China, has surged sharply in recent months. Shipping rates for a 40-foot container from China to the UK have spiked by about 60 per cent over the past three months, reaching $3,305, according to shipping analytics company Xeneta. This rise follows a similar trend seen in maritime consultancy Drewry’s weekly shipping gauge, which also recorded significant cost increases. The surge in shipping rates is largely driven by demand from US businesses rushing to import goods before new tariff hikes imposed by President Donald Trump take effect. This recent surge in demand has absorbed available shipping capacity, pushing up costs for other trade routes, including those to the UK and mainland Europe. While the shipping industry has not yet returned to the exorbitant levels seen post-pandemic, economists warn that these cost increases could put further strain on UK retailers and consumers alike. Inflation outlook complicated by shipping costs The rising shipping costs come at a time when UK inflation has been higher than expected, with the Bank of England aiming to bring down interest rates. These increased logistics expenses threaten to complicate the central bank’s plan. The British Retail Consortium (BRC) has highlighted how inflated freight prices are exacerbating already thin profit margins for UK retailers. In a competitive, low-margin market, these rising logistics costs are expected to be passed on to consumers, pushing up retail prices. Economists estimate that the higher shipping costs could add as much as 0.3 percentage points to the UK’s Consumer Price Index (CPI) in the third quarter of 2025, bringing inflation to around 3.6 per cent. While some analysts believe that the shipping cost increases may be temporary and linked to changes in US trade policies, UK businesses, already facing higher payroll taxes, minimum wage increases, and reduced profits, are unlikely to absorb these added expenses without adjusting prices. Retail and manufacturing sectors face squeeze The sectors most vulnerable to these shipping cost increases are retail and manufacturing. UK retailers, particularly supermarkets and e-commerce giants, rely heavily on imports from Asia, making them particularly sensitive to rising logistics costs. Tesco reported a 6 per cent increase in logistics costs in its 2024 earnings report, while economists warned that persistent supply chain pressures could negatively impact future profits. Similarly, UK manufacturers like Rolls-Royce, which depend on global supply chains, are also feeling the pressure from higher shipping and input costs. The UK’s logistics performance index has dropped significantly, falling from 4th to 19th globally since 2020, exposing systemic inefficiencies that are exacerbating these cost pressures. While transport inflation has temporarily eased, the underlying risk of further shipping disruptions remains high, particularly given ongoing geopolitical uncertainties and volatile global trade dynamics.

The surge in shipping costs is largely driven by demand from US businesses rushing to import goods before new tariff hikes imposed by President Donald Trump take effect.

UK faces new price pressures as shipping costs surge

Business confidence among UK firms surged to its highest level since 2015 in June, according to new data from Lloyds Bank, signalling renewed optimism about the economic outlook after months of turbulence caused by global trade tensions and domestic tax increases. The Lloyds Bank Business Barometer rose by one point to 51 per cent this month, marking the highest level of employer confidence since November 2015. The increase builds on a sharp 11-point jump in May that followed a notable decline in April, when concerns over US President Donald Trump’s tariff hikes and the UK government’s new employer tax measures dampened sentiment.The June high comes after what many business leaders described as a “harrowing” first quarter. In April, the Institute of Chartered Accountants in England and Wales (ICAEW) reported that its business confidence index had plunged to -3, the lowest level in over two years. The drop was attributed to April’s rise in employer national insurance contributions and the economic uncertainty sparked by Trump’s global tariff escalation.Lloyds’ May report, however, marked a clear turning point. The easing of some US tariffs, combined with a draft UK-US agreement to cut levies on British autos, aluminium, and steel, contributed to a sharp rebound in confidence. Now, with financial markets stabilising and retail sales rebounding, employers appear more willing to invest and hire.<h2>Hiring and pay expectations rise</h2>Lloyds’ latest survey also suggests that firms are positioning themselves for future growth. Hiring intentions strengthened, with 60 per cent of companies now expecting to increase staffing levels over the next 12 months. Wage expectations also rose for the second consecutive month; 36 per cent of firms now forecast average pay increases of at least 3 per cent.“The rebound in business confidence suggests that firms might be in a stronger position for the next quarter,” said Hann-Ju Ho, senior economist at Lloyds Bank Commercial Banking. “The rise in confidence is driven by a sharp increase in economic optimism, reflecting the recovery in financial markets amid the easing of global trade tensions.”Regionally, sentiment improved across most parts of the UK, with the East Midlands, Northern Ireland, and the South West recording the biggest gains. Construction firms were among the most upbeat, reaching their highest confidence levels in nine months, while services led the broader recovery in sentiment, even as manufacturing continued to face export challenges.<h2>Outlook still cautious despite gains</h2>Despite the positive data, economists warn that underlying risks remain. The Confederation of British Industry (CBI) noted that expectations for the broader economy remain subdued due to high employment costs, cautious consumer spending, and geopolitical uncertainty. Still, the overall upward momentum in business sentiment offers a promising signal for the second half of 2025, especially if trade tensions continue to ease and domestic demand remains resilient.

The Lloyds Bank Business Barometer rose by one point to 51 per cent this month, marking the highest level of employer confidence since November 2015. Hiring, wage growth outlook improves as employers regain optimism.

Business confidence among UK firms surged to its highest level since 2015 in June, according to new data from Lloyds Bank, signalling renewed optimism about the economic outlook after months of turbulence caused by global trade tensions and domestic tax increases. The Lloyds Bank Business Barometer rose by one point to 51 per cent this month, marking the highest level of employer confidence since November 2015. The increase builds on a sharp 11-point jump in May that followed a notable decline in April, when concerns over US President Donald Trump’s tariff hikes and the UK government’s new employer tax measures dampened sentiment. The June high comes after what many business leaders described as a “harrowing” first quarter. In April, the Institute of Chartered Accountants in England and Wales (ICAEW) reported that its business confidence index had plunged to -3, the lowest level in over two years. The drop was attributed to April’s rise in employer national insurance contributions and the economic uncertainty sparked by Trump’s global tariff escalation. Lloyds’ May report, however, marked a clear turning point. The easing of some US tariffs, combined with a draft UK-US agreement to cut levies on British autos, aluminium, and steel, contributed to a sharp rebound in confidence. Now, with financial markets stabilising and retail sales rebounding, employers appear more willing to invest and hire. Hiring and pay expectations rise Lloyds’ latest survey also suggests that firms are positioning themselves for future growth. Hiring intentions strengthened, with 60 per cent of companies now expecting to increase staffing levels over the next 12 months. Wage expectations also rose for the second consecutive month; 36 per cent of firms now forecast average pay increases of at least 3 per cent. “The rebound in business confidence suggests that firms might be in a stronger position for the next quarter,” said Hann-Ju Ho, senior economist at Lloyds Bank Commercial Banking. “The rise in confidence is driven by a sharp increase in economic optimism, reflecting the recovery in financial markets amid the easing of global trade tensions.” Regionally, sentiment improved across most parts of the UK, with the East Midlands, Northern Ireland, and the South West recording the biggest gains. Construction firms were among the most upbeat, reaching their highest confidence levels in nine months, while services led the broader recovery in sentiment, even as manufacturing continued to face export challenges. Outlook still cautious despite gains Despite the positive data, economists warn that underlying risks remain. The Confederation of British Industry (CBI) noted that expectations for the broader economy remain subdued due to high employment costs, cautious consumer spending, and geopolitical uncertainty. Still, the overall upward momentum in business sentiment offers a promising signal for the second half of 2025, especially if trade tensions continue to ease and domestic demand remains resilient.

The Lloyds Bank Business Barometer rose by one point to 51 per cent this month, marking the highest level of employer confidence since November 2015. Hiring, wage growth outlook improves as employers regain optimism.

UK business confidence hits nine-year high amid easing trade tensions

Britain is on track to experience its worst decade for living standards growth in more than 6 decades, according to the Resolution Foundation’s Living Standards Outlook 2025, released on June 26. Despite a sharp income recovery in 2024-25, the report warns that median household incomes will stagnate through the rest of the 2020s, particularly hitting lower-income families, renters, and children. Drawing on economic forecasts from the Office for Budget Responsibility (OBR) and the Bank of England, the report projects that typical non-pensioner household incomes will grow by just 1 per cent in real terms between 2024-25 and 2029-30, a cash gain of only around £300. This would amount to zero growth across the full decade, following a turbulent first half marked by the Covid-19 pandemic and the cost-of-living crisis.The weakest outlook is for those at the bottom of the income distribution. The poorest 10 per cent of non-pensioner households are projected to be 8 per cent worse off in 2029-30 compared to 2019-20, a loss of around £1,000. Meanwhile, incomes for the bottom half overall are expected to fall by 2 per cent over the decade, whereas the top half could see a slight rise of 1 per cent.Pensioners and outright homeowners are among the few groups likely to see positive growth. Pensioner incomes are projected to rise by 5 per cent between 2024-25 and 2029-30, largely due to the continuation of the triple lock on the state pension. By contrast, private renters are expected to see incomes fall by 2 per cent and mortgagors by 1 per cent over the same period. Children, in particular, are expected to suffer, with their typical household income projected to be 2 per cent lower in 2029-30 than in 2019-20.<h2>Policy choices and economic risks ahead</h2>The report warns that current government policies, including the continuation of the two-child benefit limit, frozen income tax thresholds, and rising council tax, are set to suppress income growth. Under existing policies, child poverty is expected to rise from 31 per cent in 2023-24 to 34 per cent by the end of the decade, representing a record 4.8 million children in poverty.However, the Resolution Foundation highlights that alternative policy decisions could significantly alter the trajectory. For instance, scrapping the two-child limit could reverse the expected rise in child poverty and deliver modest income growth for the poorest families, even if funded by tax increases.More optimistic economic scenarios, including stronger pay growth and higher employment, could also improve outcomes. In such a case, median incomes could rise by up to 3 per cent between 2024-25 and 2029-30, still historically weak, but better than the central forecast.<h2>Public concern reflects hard realities</h2>The bleak projections come amid widespread public anxiety. According to recent surveys cited in the report, 86 per cent of Britons view the cost of living as the UK’s most pressing issue, with a record 26 per cent saying they are struggling to live on their income, up from 16 per cent in 2018.Despite strong earnings growth in recent years, rising inflation, high housing costs, and policy headwinds have eroded real income gains. Without substantial changes, the 2020s could mark a generational low point for British household living standards.“The government’s goal of raising living standards is welcome but unambitious,” said Adam Corlett, lead author of the report. “Delivering noticeable income growth for a broad range of voters will require targeted measures for the poorest as well as sustained economic growth.”

The weakest outlook is for those at the bottom of the income distribution. The poorest 10 per cent of non-pensioner households are projected to be 8 per cent worse off in 2029-30 compared to 2019-20.

Britain is on track to experience its worst decade for living standards growth in more than 6 decades, according to the Resolution Foundation’s Living Standards Outlook 2025, released on June 26. Despite a sharp income recovery in 2024-25, the report warns that median household incomes will stagnate through the rest of the 2020s, particularly hitting lower-income families, renters, and children. Drawing on economic forecasts from the Office for Budget Responsibility (OBR) and the Bank of England, the report projects that typical non-pensioner household incomes will grow by just 1 per cent in real terms between 2024-25 and 2029-30, a cash gain of only around £300. This would amount to zero growth across the full decade, following a turbulent first half marked by the Covid-19 pandemic and the cost-of-living crisis. The weakest outlook is for those at the bottom of the income distribution. The poorest 10 per cent of non-pensioner households are projected to be 8 per cent worse off in 2029-30 compared to 2019-20, a loss of around £1,000. Meanwhile, incomes for the bottom half overall are expected to fall by 2 per cent over the decade, whereas the top half could see a slight rise of 1 per cent. Pensioners and outright homeowners are among the few groups likely to see positive growth. Pensioner incomes are projected to rise by 5 per cent between 2024-25 and 2029-30, largely due to the continuation of the triple lock on the state pension. By contrast, private renters are expected to see incomes fall by 2 per cent and mortgagors by 1 per cent over the same period. Children, in particular, are expected to suffer, with their typical household income projected to be 2 per cent lower in 2029-30 than in 2019-20. Policy choices and economic risks ahead The report warns that current government policies, including the continuation of the two-child benefit limit, frozen income tax thresholds, and rising council tax, are set to suppress income growth. Under existing policies, child poverty is expected to rise from 31 per cent in 2023-24 to 34 per cent by the end of the decade, representing a record 4.8 million children in poverty. However, the Resolution Foundation highlights that alternative policy decisions could significantly alter the trajectory. For instance, scrapping the two-child limit could reverse the expected rise in child poverty and deliver modest income growth for the poorest families, even if funded by tax increases. More optimistic economic scenarios, including stronger pay growth and higher employment, could also improve outcomes. In such a case, median incomes could rise by up to 3 per cent between 2024-25 and 2029-30, still historically weak, but better than the central forecast. Public concern reflects hard realities The bleak projections come amid widespread public anxiety. According to recent surveys cited in the report, 86 per cent of Britons view the cost of living as the UK’s most pressing issue, with a record 26 per cent saying they are struggling to live on their income, up from 16 per cent in 2018. Despite strong earnings growth in recent years, rising inflation, high housing costs, and policy headwinds have eroded real income gains. Without substantial changes, the 2020s could mark a generational low point for British household living standards. “The government’s goal of raising living standards is welcome but unambitious,” said Adam Corlett, lead author of the report. “Delivering noticeable income growth for a broad range of voters will require targeted measures for the poorest as well as sustained economic growth.”

The weakest outlook is for those at the bottom of the income distribution. The poorest 10 per cent of non-pensioner households are projected to be 8 per cent worse off in 2029-30 compared to 2019-20.

UK’s bleak living standards forecast: Stagnating growth, rising poverty

The UK government on Thursday introduced a new&nbsp;trade strategy designed to strengthen British exports while tightening safeguards against the threat of cheap foreign imports. The move comes amid rising global uncertainty and renewed protectionism triggered by the US tariff wave under President Donald Trump.<h2>What is Britain's new trade plan?&nbsp;</h2>Unveiled at the British Chambers of Commerce (BCC) conference in London, the strategy outlines a dual approach: expanding export support for UK firms while reinforcing trade defences to ensure domestic industries remain competitive.&nbsp;Business Secretary Jonathan Reynolds said the initiative is aimed at “ensuring British businesses are protected from harm”, as quoted by Reuters. According to the strategy, the UK will increase government-backed financing for exporters and provide assistance in navigating complex trade regulations—especially for small and medium-sized enterprises (SMEs).<h2>Concerns over redirected exports amid US tariffs</h2>The timing of the announcement follows rising concerns that goods originally intended for the US, particularly steel and electric vehicles, may be diverted to the UK, after President Trump’s new tariffs made American markets costlier for foreign producers. Reuters reports that British manufacturers fear a potential influx of underpriced imports, particularly from China, as global supply chains reroute. Sectors such as automotive and steel have called for urgent measures to prevent market distortion.&nbsp;Unlike the European Union, the UK has not imposed high tariffs on Chinese-made electric vehicles, and its existing steel import safeguards are due to expire in 2026.<h2>Trade defence under review</h2>Officials have signalled an upcoming review of trade remedy tools managed by the Trade Remedies Authority (TRA). While the UK’s current mechanisms allow for countermeasures against dumping or subsidies, industry groups say enforcement has been slow and limited in scope.&nbsp;According to Financial Times, British steelmakers are urging the government to extend or replace current safeguards and consider treating certain sectors, such as domestic steel production, as strategic.<h2>Focus on services, India trade deal</h2>The strategy also highlights a renewed focus on expanding UK services exports, which already account for over £500 billion annually, as per Financial Times. Officials pointed to the recently concluded UK–India free trade agreement as a key success. The deal is expected to increase bilateral trade by over £25 billion per year by 2040.&nbsp;The government also referenced improvements in post-Brexit trading terms with the European Union and a new tariff agreement with the US as signs of diplomatic progress.<h2>Closing the tax-free loophole on low-value imports</h2>The UK Treasury is reviewing the “de minimis” rule, which currently allows goods worth under £135 to enter the UK without import taxes. Retailers argue that this loophole is being exploited by foreign e-commerce firms, including Shein and Temu, to undercut local sellers.&nbsp;As per The Guardian, Andrew Opie of the British Retail Consortium called for “swift action” to prevent misuse of the rule, originally intended for consumers but now increasingly leveraged for commercial advantage.<h2>What’s next?</h2>The government’s trade policy update reflects a shift toward greater responsiveness in a changing global environment. With protectionist measures spreading across major economies and geopolitical risks reshaping supply chains, UK officials say the new plan aims to strike a balance, supporting exporters while defending vulnerable sectors.&nbsp;The coming months will be key as the UK reviews steel safeguards, monitors redirected trade flows, and implements changes to low-value import&nbsp;rules.&nbsp;&nbsp;(With inputs from the agencies) &nbsp;

Amid Trump-led US tariff surge, Britain tightens trade defences and eyes redirected Chinese exports while expanding support for SMEs and services.

The UK government on Thursday introduced a new trade strategy designed to strengthen British exports while tightening safeguards against the threat of cheap foreign imports. The move comes amid rising global uncertainty and renewed protectionism triggered by the US tariff wave under President Donald Trump. What is Britain's new trade plan? Unveiled at the British Chambers of Commerce (BCC) conference in London, the strategy outlines a dual approach: expanding export support for UK firms while reinforcing trade defences to ensure domestic industries remain competitive. Business Secretary Jonathan Reynolds said the initiative is aimed at “ensuring British businesses are protected from harm”, as quoted by Reuters. According to the strategy, the UK will increase government-backed financing for exporters and provide assistance in navigating complex trade regulations—especially for small and medium-sized enterprises (SMEs). Concerns over redirected exports amid US tariffs The timing of the announcement follows rising concerns that goods originally intended for the US, particularly steel and electric vehicles, may be diverted to the UK, after President Trump’s new tariffs made American markets costlier for foreign producers. Reuters reports that British manufacturers fear a potential influx of underpriced imports, particularly from China, as global supply chains reroute. Sectors such as automotive and steel have called for urgent measures to prevent market distortion. Unlike the European Union, the UK has not imposed high tariffs on Chinese-made electric vehicles, and its existing steel import safeguards are due to expire in 2026. Trade defence under review Officials have signalled an upcoming review of trade remedy tools managed by the Trade Remedies Authority (TRA). While the UK’s current mechanisms allow for countermeasures against dumping or subsidies, industry groups say enforcement has been slow and limited in scope. According to Financial Times, British steelmakers are urging the government to extend or replace current safeguards and consider treating certain sectors, such as domestic steel production, as strategic. Focus on services, India trade deal The strategy also highlights a renewed focus on expanding UK services exports, which already account for over £500 billion annually, as per Financial Times. Officials pointed to the recently concluded UK–India free trade agreement as a key success. The deal is expected to increase bilateral trade by over £25 billion per year by 2040. The government also referenced improvements in post-Brexit trading terms with the European Union and a new tariff agreement with the US as signs of diplomatic progress. Closing the tax-free loophole on low-value imports The UK Treasury is reviewing the “de minimis” rule, which currently allows goods worth under £135 to enter the UK without import taxes. Retailers argue that this loophole is being exploited by foreign e-commerce firms, including Shein and Temu, to undercut local sellers. As per The Guardian, Andrew Opie of the British Retail Consortium called for “swift action” to prevent misuse of the rule, originally intended for consumers but now increasingly leveraged for commercial advantage. What’s next? The government’s trade policy update reflects a shift toward greater responsiveness in a changing global environment. With protectionist measures spreading across major economies and geopolitical risks reshaping supply chains, UK officials say the new plan aims to strike a balance, supporting exporters while defending vulnerable sectors. The coming months will be key as the UK reviews steel safeguards, monitors redirected trade flows, and implements changes to low-value import rules. (With inputs from the agencies)

UK unveils new trade strategy to boost exports and shield domestic industries from cheap foreign imports.

UK unveils trade plan to support exporters, guard against cheap imports

Britain on Tuesday (Jun 24) announced that it would reintroduce fighter jets capable of carrying atomic weapons. Calling it the "biggest strengthening of the UK's nuclear posture in a generation," Downing Street said that the United Kingdom's Prime Minister Keir Starmer would announce the plan at a NATO summit on Wednesday. The UK PM, meanwhile, in a statement, said that the country will acquire 12 F-35A fighter jets capable of carrying atomic weapons from the United States. The move marks a dramatic shift in Britain’s nuclear doctrine, which for decades has relied solely on submarine-launched ballistic missiles for deterrence.<h2>A new era</h2>Keir Starmer, in a statement, said that the "These F35 dual capable aircraft will herald a new era for our world-leading Royal Air Force and deter hostile threats that threaten the UK and our Allies". Praising the announcement, NATO Secretary General Mark Rutte said, "I strongly welcome today's announcement" and praised the move as "yet another robust British contribution to NATO."The F-35A jets, built by Lockheed Martin, differ from the F-35Bs currently used by the UK in one key way: they can be armed with nuclear warheads.Watch | High stakes at NATO summit: 5% defense push, Trump-Zelensky meeting, Iran tensions<a href="https://www.wionews.com/videos/high-stakes-at-nato-summit-5-defense-push-trump-zelensky-meeting-iran-tensions-1750812878060/embed">https://www.wionews.com/videos/high-stakes-at-nato-summit-5-defense-push-trump-zelensky-meeting-iran-tensions-1750812878060/embed</a>As per reports, they'll be based at Marham Air Force Base in eastern England and are set to bolster NATO’s nuclear sharing strategy — a Cold War-era mission that has gained new relevance with Russia's continued war in Ukraine.<h2>From under the sea to back in the skies</h2>Since the Cold War's end, the UK's nuclear deterrent has lived beneath the waves — carried aboard Royal Navy submarines. Tactical, air-delivered nukes were largely seen as relics of a bygone era.Talking to AFP, Heloise Fayet, a nuclear expert at France's Institute of International Relations (Ifri) said that at the time, "there was no longer any real interest in tactical nuclear weapons in Europe, because the threat had disappeared".That, she added, has changed. Fayet said that the UK's announcement illustrates "the continued re-nuclearisation of Europe, the renewed need for nuclear weapons, and the strengthening of NATO's deterrence, in the face of an adversary, Russia", which has been at war with Ukraine for three years.&nbsp;

UK PM Keir Starmer, in a statement, said that the country will acquire 12 F-35A fighter jets capable of carrying atomic weapons from the United States. 

Britain on Tuesday (Jun 24) announced that it would reintroduce fighter jets capable of carrying atomic weapons. Calling it the "biggest strengthening of the UK's nuclear posture in a generation," Downing Street said that the United Kingdom's Prime Minister Keir Starmer would announce the plan at a NATO summit on Wednesday. The UK PM, meanwhile, in a statement, said that the country will acquire 12 F-35A fighter jets capable of carrying atomic weapons from the United States. The move marks a dramatic shift in Britain’s nuclear doctrine, which for decades has relied solely on submarine-launched ballistic missiles for deterrence. A new era Keir Starmer, in a statement, said that the "These F35 dual capable aircraft will herald a new era for our world-leading Royal Air Force and deter hostile threats that threaten the UK and our Allies". Praising the announcement, NATO Secretary General Mark Rutte said, "I strongly welcome today's announcement" and praised the move as "yet another robust British contribution to NATO." The F-35A jets, built by Lockheed Martin, differ from the F-35Bs currently used by the UK in one key way: they can be armed with nuclear warheads. Watch | High stakes at NATO summit: 5% defense push, Trump-Zelensky meeting, Iran tensions https://www.wionews.com/videos/high-stakes-at-nato-summit-5-defense-push-trump-zelensky-meeting-iran-tensions-1750812878060/embed As per reports, they'll be based at Marham Air Force Base in eastern England and are set to bolster NATO’s nuclear sharing strategy — a Cold War-era mission that has gained new relevance with Russia's continued war in Ukraine. From under the sea to back in the skies Since the Cold War's end, the UK's nuclear deterrent has lived beneath the waves — carried aboard Royal Navy submarines. Tactical, air-delivered nukes were largely seen as relics of a bygone era. Talking to AFP, Heloise Fayet, a nuclear expert at France's Institute of International Relations (Ifri) said that at the time, "there was no longer any real interest in tactical nuclear weapons in Europe, because the threat had disappeared". That, she added, has changed. Fayet said that the UK's announcement illustrates "the continued re-nuclearisation of Europe, the renewed need for nuclear weapons, and the strengthening of NATO's deterrence, in the face of an adversary, Russia", which has been at war with Ukraine for three years.

UK PM Keir Starmer, in a statement, said that the country will acquire 12 F-35A fighter jets capable of carrying atomic weapons from the United States.&nbsp;

UK to acquire F-35A jets from US, revive airborne nuclear capability in major NATO shift

The UK economy showed only modest signs of growth in June, with the latest Flash Purchasing Managers’ Index (PMI) data pointing to stagnant activity, falling employment, and cooling inflation, reinforcing expectations that the Bank of England (BoE) will cut interest rates again as early as August. The HCOB Flash UK Composite PMI Output Index, compiled by S&amp;P Global, rose slightly to 50.7 in June from 50.3 in May, barely above the 50.0 mark that separates expansion from contraction.&nbsp;The figure suggests GDP growth of just 0.1 per cent for the second quarter, offering little momentum after April's contraction and keeping the economy firmly in a low-growth environment.<h2>Weak demand, job cuts signal fragile outlook</h2>Despite the uptick, the data painted a picture of broad-based weakness, particularly in employment and sentiment. UK businesses continued to shed jobs in June amid weak demand, higher costs, and low confidence. While the rate of job losses moderated slightly compared to earlier in the year, it remained significant, with companies citing efforts to cut costs in response to subdued activity and the lingering effects of higher staffing costs, such as National Insurance contributions and minimum wage increases introduced in last year’s budget.The services sector showed a marginal improvement, helping to offset a continued decline in manufacturing output, which contracted for the eighth consecutive month. While new orders rose for the first time since November, the gain was minor, and export orders in services fell sharply, marking one of the steepest drops since the pandemic.Business sentiment, which had rebounded slightly in May, deteriorated again in June, remaining well below the long-term average. Firms cited domestic policy uncertainty, geopolitical instability—particularly in West Asia—and concerns over US trade protectionism as key factors weighing on confidence.<h2>Inflation cools, strengthening rate cut case</h2>Amid the economic malaise, there was a significant easing of inflationary pressures, particularly in the services sector. Selling price inflation dropped to its lowest level since February 2021, as companies faced intensified competition and resorted to heavier discounting. With price increases for manufactured goods also moderating, the PMI’s combined inflation gauge now suggests that consumer price inflation may be back near the BoE’s 2 per cent target. This cooling inflation backdrop, coupled with weak growth and ongoing job losses, has strengthened the case for further monetary easing. While the BoE held its key interest rate steady at 4.25 per cent at its June 19 meeting, three of the nine Monetary Policy Committee members voted in favour of a cut.The bank has already cut rates four times since August 2024, and analysts expect two more cuts in 2025, likely in August and November, as policymakers attempt to stimulate a faltering economy without reigniting inflation.“Near-stalled growth, a sharply cooling labour market, and fading inflationary pressure present a strong case for more easing,” said Chris Williamson, Chief Business Economist at S&amp;P Global. “The June PMI data give the BoE room to move.”

UK Composite PMI Output Index rose slightly to 50.7 in June from 50.3 in May signalling sluggish expansion of the economy and bolsters case for BoE rate cuts.

The UK economy showed only modest signs of growth in June, with the latest Flash Purchasing Managers’ Index (PMI) data pointing to stagnant activity, falling employment, and cooling inflation, reinforcing expectations that the Bank of England (BoE) will cut interest rates again as early as August. The HCOB Flash UK Composite PMI Output Index, compiled by S&P Global, rose slightly to 50.7 in June from 50.3 in May, barely above the 50.0 mark that separates expansion from contraction. The figure suggests GDP growth of just 0.1 per cent for the second quarter, offering little momentum after April's contraction and keeping the economy firmly in a low-growth environment. Weak demand, job cuts signal fragile outlook Despite the uptick, the data painted a picture of broad-based weakness, particularly in employment and sentiment. UK businesses continued to shed jobs in June amid weak demand, higher costs, and low confidence. While the rate of job losses moderated slightly compared to earlier in the year, it remained significant, with companies citing efforts to cut costs in response to subdued activity and the lingering effects of higher staffing costs, such as National Insurance contributions and minimum wage increases introduced in last year’s budget. The services sector showed a marginal improvement, helping to offset a continued decline in manufacturing output, which contracted for the eighth consecutive month. While new orders rose for the first time since November, the gain was minor, and export orders in services fell sharply, marking one of the steepest drops since the pandemic. Business sentiment, which had rebounded slightly in May, deteriorated again in June, remaining well below the long-term average. Firms cited domestic policy uncertainty, geopolitical instability—particularly in West Asia—and concerns over US trade protectionism as key factors weighing on confidence. Inflation cools, strengthening rate cut case Amid the economic malaise, there was a significant easing of inflationary pressures, particularly in the services sector. Selling price inflation dropped to its lowest level since February 2021, as companies faced intensified competition and resorted to heavier discounting. With price increases for manufactured goods also moderating, the PMI’s combined inflation gauge now suggests that consumer price inflation may be back near the BoE’s 2 per cent target. This cooling inflation backdrop, coupled with weak growth and ongoing job losses, has strengthened the case for further monetary easing. While the BoE held its key interest rate steady at 4.25 per cent at its June 19 meeting, three of the nine Monetary Policy Committee members voted in favour of a cut. The bank has already cut rates four times since August 2024, and analysts expect two more cuts in 2025, likely in August and November, as policymakers attempt to stimulate a faltering economy without reigniting inflation. “Near-stalled growth, a sharply cooling labour market, and fading inflationary pressure present a strong case for more easing,” said Chris Williamson, Chief Business Economist at S&P Global. “The June PMI data give the BoE room to move.”

UK Composite PMI Output Index rose slightly to 50.7 in June from 50.3 in May signalling sluggish expansion of the economy and bolsters case for BoE rate cuts.

UK growth stalls in June as job cuts continue, inflation eases sharply

Amazon has announced a sweeping £40 billion ($54 billion) investment plan for the United Kingdom over the next three years—its largest commitment to the country to date. The announcement comes as a major endorsement of Prime Minister Keir Starmer’s Labour government, which has made foreign investment and industrial regeneration central to its economic strategy.&nbsp;As per Reuters, the e-commerce and cloud giant will significantly expand its UK operations, create thousands of jobs, and scale up its physical infrastructure across logistics, offices, and data centres. The UK is Amazon’s third-largest global market after the United States and Germany.<h2>A major boost for the UK economy</h2>Downing Street hailed Amazon’s announcement as a “massive vote of confidence” in Britain’s economy. Prime Minister Starmer, whose government this week unveiled a new industrial strategy, called the investment proof that the UK remains “the best place to do business.” The Labour-led administration has placed economic growth and job creation at the heart of its agenda since coming to power in 2024.<h2>What’s in Amazon’s £40 billion plan?</h2>According to Reuters, Amazon’s investment will fund the construction of two new state-of-the-art fulfilment centres in the East Midlands, expected to open in 2027. It also includes fulfilment centres in Hull and Northampton, which are set to open in 2025 and 2026, respectively, and are projected to create around 2,000 jobs each.&nbsp;Beyond warehousing, Amazon plans to establish new delivery stations across the UK, expand and upgrade its network of over 100 existing operations sites, and enhance its transport infrastructure. The company will also build two new buildings at its London headquarters and redevelop the Bray Film Studios in Berkshire. The total investment also incorporates part of the £8 billion previously announced by Amazon Web Services in September 2024 for cloud infrastructure, as well as salaries for its UK workforce, which currently stands at 75,000.<h2>Foreign investment amid regulatory scrutiny</h2>The move is a timely win for the Starmer government, which has been pushing to revive Britain’s economic momentum through large-scale, high-value foreign investment. Amazon’s announcement comes despite regulatory scrutiny: as per Reuters, the UK’s grocery watchdog has launched an investigation into the company over possible breaches in supplier payment timelines.&nbsp;Still, the scale and timing of the investment reflect Amazon’s long-term confidence in the UK’s post-Brexit economic direction. It also highlights the growing importance of Britain within Amazon’s global strategy at a time of rising competition and geopolitical uncertainty across Europe and Asia.&nbsp;(With inputs from the agencies)&nbsp;

This expansion will create thousands of jobs, build new fulfilment centres, upgrade infrastructure, and enhance delivery networks. Despite regulatory scrutiny, the investment reflects Amazon confidence in the UK post Brexit economic climate and strategic importance in its global operations.

Amazon has announced a sweeping £40 billion ($54 billion) investment plan for the United Kingdom over the next three years—its largest commitment to the country to date. The announcement comes as a major endorsement of Prime Minister Keir Starmer’s Labour government, which has made foreign investment and industrial regeneration central to its economic strategy. As per Reuters, the e-commerce and cloud giant will significantly expand its UK operations, create thousands of jobs, and scale up its physical infrastructure across logistics, offices, and data centres. The UK is Amazon’s third-largest global market after the United States and Germany. A major boost for the UK economy Downing Street hailed Amazon’s announcement as a “massive vote of confidence” in Britain’s economy. Prime Minister Starmer, whose government this week unveiled a new industrial strategy, called the investment proof that the UK remains “the best place to do business.” The Labour-led administration has placed economic growth and job creation at the heart of its agenda since coming to power in 2024. What’s in Amazon’s £40 billion plan? According to Reuters, Amazon’s investment will fund the construction of two new state-of-the-art fulfilment centres in the East Midlands, expected to open in 2027. It also includes fulfilment centres in Hull and Northampton, which are set to open in 2025 and 2026, respectively, and are projected to create around 2,000 jobs each. Beyond warehousing, Amazon plans to establish new delivery stations across the UK, expand and upgrade its network of over 100 existing operations sites, and enhance its transport infrastructure. The company will also build two new buildings at its London headquarters and redevelop the Bray Film Studios in Berkshire. The total investment also incorporates part of the £8 billion previously announced by Amazon Web Services in September 2024 for cloud infrastructure, as well as salaries for its UK workforce, which currently stands at 75,000. Foreign investment amid regulatory scrutiny The move is a timely win for the Starmer government, which has been pushing to revive Britain’s economic momentum through large-scale, high-value foreign investment. Amazon’s announcement comes despite regulatory scrutiny: as per Reuters, the UK’s grocery watchdog has launched an investigation into the company over possible breaches in supplier payment timelines. Still, the scale and timing of the investment reflect Amazon’s long-term confidence in the UK’s post-Brexit economic direction. It also highlights the growing importance of Britain within Amazon’s global strategy at a time of rising competition and geopolitical uncertainty across Europe and Asia. (With inputs from the agencies)

Amazon has revealed a £40 billion investment plan for the UK over three years, its largest commitment to the country, supporting Prime Minister Keir Starmer's Labour government.&nbsp;

Is Amazon’s $54 billion UK plan a turning point for Starmer’s economic strategy?

In a landmark move to revive British industry and boost long-term economic growth, the government of the United Kingdom has announced a bold new 10-year industrial strategy aimed at cutting energy costs for businesses, unlocking billions in investment, and creating over 1.1 million well-paid jobs by 2035. The strategy, launched on June 23, focuses on eight key sectors ranging from advanced manufacturing and clean energy to digital technologies and financial services where the UK has a global competitive advantage. It pledges to remove barriers to business expansion, accelerate innovation, and support a cleaner, more resilient economy.<h2>Major electricity cost cuts for manufacturing firms</h2>At the heart of the government’s recent plan is a pledge to slash electricity bills by up to 25 per cent for over 7,000 energy-intensive manufacturers from 2027 through a new British Industrial Competitiveness Scheme. Eligible businesses, including those in the automotive, aerospace, chemicals and ceramics sectors, will be exempt from green levies such as the Renewables Obligation and Capacity Market charges, saving up to £40 ($53.5) per megawatt-hour.Additionally, support will be expanded under the ‘British Industry Supercharger’ for around 500 of the country’s most energy-intensive companies in steel, glass, and chemicals. These companies will see network charge discounts increase from 60 per cent to 90 per cent by 2026, helping protect jobs and enhance global competitiveness without raising household bills or taxes.Business groups have long cited the extremely high electricity prices as a major obstacle for UK manufacturers, who currently pay some of the highest energy rates in the developed world. The announcement is being seen as a turning point in helping British firms compete with the fast-growing international industry.<h2>Fast-tracking grid access and job creation</h2>The strategy also tackles long delays in connecting new projects to the energy grid, with a ‘Connections Accelerator Service’ set to begin by the end of 2025. This will prioritise investment-heavy and job-creating projects, cutting wait times for grid access.Prime Minister Keir Starmer hailed the strategy as a “turning point for Britain’s economy”, offering long-term direction and certainty. “This is how we power Britain’s future, by backing sectors where we lead, removing the barriers that hold us back, and building a stronger economy that works for working people,” he said.Chancellor Rachel Reeves echoed that sentiment, calling it “a giant step forward” for business and innovation. She announced increased funding for the British Business Bank, boosting its capacity to £25.6 billion ($34.26 billion) to support SMEs and high-growth industries.<h2>Boosting skills, R&amp;D and innovation</h2>To address labour shortages, the government will inject £1.2 billion ($1.6 billion) annually by 2028–29 into skills development, including short courses for high-growth sectors like defence engineering and artificial intelligence (AI). Visa reforms will also be introduced to attract elite global talent.In addition, research and development spending will rise to £22.6 billion ($30.2 billion) annually by the end of the decade, with specific investments in artificial intelligence ($2.67 billion) and advanced manufacturing ($3.74 billion). Regulatory reforms will further clear the way for technologies like biotechnology, autonomous or self-driving vehicles, and clean energy.Industry leaders have welcomed the initiative. Make UK CEO Stephen Phipson called it a “much-needed step” that addresses the sector’s three major challenges: skills shortages, high energy costs, and limited capital access. The Confederation of British Industry (CBI) described it as a “bedrock for growth”.Critics, however, questioned the Labour Party’s ability to sustain the plan. Opposition parties said the strategy admits the high cost of achieving net zero and warned that reforms must avoid burdening taxpayers or leaving small businesses behind. But supporters, including the Trades Union Congress, said lower industrial electricity prices are long overdue.With economic growth faltering—GDP shrank by 0.1 per cent in May—the new strategy represents a significant effort by the UK government to steer the country towards a more competitive, clean, and job-rich future.

UK government plans to cut electricity costs for more than 7,000 firms and create over 1 million skilled jobs under it's 10-year industrial strategy.

In a landmark move to revive British industry and boost long-term economic growth, the government of the United Kingdom has announced a bold new 10-year industrial strategy aimed at cutting energy costs for businesses, unlocking billions in investment, and creating over 1.1 million well-paid jobs by 2035. The strategy, launched on June 23, focuses on eight key sectors ranging from advanced manufacturing and clean energy to digital technologies and financial services where the UK has a global competitive advantage. It pledges to remove barriers to business expansion, accelerate innovation, and support a cleaner, more resilient economy. Major electricity cost cuts for manufacturing firms At the heart of the government’s recent plan is a pledge to slash electricity bills by up to 25 per cent for over 7,000 energy-intensive manufacturers from 2027 through a new British Industrial Competitiveness Scheme. Eligible businesses, including those in the automotive, aerospace, chemicals and ceramics sectors, will be exempt from green levies such as the Renewables Obligation and Capacity Market charges, saving up to £40 ($53.5) per megawatt-hour. Additionally, support will be expanded under the ‘British Industry Supercharger’ for around 500 of the country’s most energy-intensive companies in steel, glass, and chemicals. These companies will see network charge discounts increase from 60 per cent to 90 per cent by 2026, helping protect jobs and enhance global competitiveness without raising household bills or taxes. Business groups have long cited the extremely high electricity prices as a major obstacle for UK manufacturers, who currently pay some of the highest energy rates in the developed world. The announcement is being seen as a turning point in helping British firms compete with the fast-growing international industry. Fast-tracking grid access and job creation The strategy also tackles long delays in connecting new projects to the energy grid, with a ‘Connections Accelerator Service’ set to begin by the end of 2025. This will prioritise investment-heavy and job-creating projects, cutting wait times for grid access. Prime Minister Keir Starmer hailed the strategy as a “turning point for Britain’s economy”, offering long-term direction and certainty. “This is how we power Britain’s future, by backing sectors where we lead, removing the barriers that hold us back, and building a stronger economy that works for working people,” he said. Chancellor Rachel Reeves echoed that sentiment, calling it “a giant step forward” for business and innovation. She announced increased funding for the British Business Bank, boosting its capacity to £25.6 billion ($34.26 billion) to support SMEs and high-growth industries. Boosting skills, R&D and innovation To address labour shortages, the government will inject £1.2 billion ($1.6 billion) annually by 2028–29 into skills development, including short courses for high-growth sectors like defence engineering and artificial intelligence (AI). Visa reforms will also be introduced to attract elite global talent. In addition, research and development spending will rise to £22.6 billion ($30.2 billion) annually by the end of the decade, with specific investments in artificial intelligence ($2.67 billion) and advanced manufacturing ($3.74 billion). Regulatory reforms will further clear the way for technologies like biotechnology, autonomous or self-driving vehicles, and clean energy. Industry leaders have welcomed the initiative. Make UK CEO Stephen Phipson called it a “much-needed step” that addresses the sector’s three major challenges: skills shortages, high energy costs, and limited capital access. The Confederation of British Industry (CBI) described it as a “bedrock for growth”. Critics, however, questioned the Labour Party’s ability to sustain the plan. Opposition parties said the strategy admits the high cost of achieving net zero and warned that reforms must avoid burdening taxpayers or leaving small businesses behind. But supporters, including the Trades Union Congress, said lower industrial electricity prices are long overdue. With economic growth faltering—GDP shrank by 0.1 per cent in May—the new strategy represents a significant effort by the UK government to steer the country towards a more competitive, clean, and job-rich future.

UK government plans to cut electricity costs for more than 7,000 firms and create over 1 million skilled jobs under it's 10-year industrial strategy.

UK unveils 10-year industrial strategy to slash energy bills and spur growth

Prime Minister Keir Starmer’s government has unveiled the first major pillar of its long-promised industrial strategy, with a £275 million ($370 million) investment package aimed at addressing chronic skills shortages and preparing the UK workforce for future industries.Business Secretary Jonathan Reynolds announced the initiative on June 22, calling it the foundation of a broader 10-year industrial blueprint designed to overhaul the skills system, reduce reliance on foreign labour, and support growth in high-priority sectors such as engineering, defence, AI, and advanced manufacturing.“Our modern industrial strategy will be powered by investing in British people,” Reynolds said. “It will help transform our skills system to end the overreliance on foreign labour and ensure British workers can secure good, well-paid jobs in the industries of tomorrow.”<h2>Focus on skills and technical training</h2>The £275 million ($370 million) investment will fund the creation of new technical excellence colleges, short courses in digital manufacturing and artificial intelligence (AI), and capital upgrades to existing training providers across England. The goal is to address a persistent skills gap in key sectors viewed as central to Britain’s future economic resilience and competitiveness.The package is expected to benefit thousands of learners and create pathways to employment in sectors identified as growth engines under the Labour Party’s “plan for change”. The funding also builds on previous announcements, including a £3 billion ($4 billion) apprenticeship package and a £187 million ($251 million) fund for AI training.Education Secretary Bridget Phillipson described the strategy as an “economic and social reset”, noting that one in seven young people in the UK are currently not in education or employment.<h2>A political counter to reform UK’s rise</h2>The timing of the announcement is seen as a direct response to the growing influence of Nigel Farage’s Reform UK party in some parts. With the strategy aimed at revitalising traditional manufacturing heartlands, ministers hope to regain support in so-called red wall constituencies where the Labour Party has faced electoral pressure.Officials say the plan is not only economic but political—part of a broader attempt to challenge Farage’s message of national decline and regain the confidence of working-class voters hit hardest by decades of industrial erosion.<h2>Industrial strategy still evolving</h2>While the £275 million ($370 million) pledge is being positioned as a headline-grabbing first step, it is not a comprehensive funding package. The full strategy, to be published next week, will include new trade and export policies and efforts to strengthen UK supply chains and connectivity.Business groups and unions are expected to push for further measures, particularly in the areas of energy costs and industrial decarbonisation. A June report by Make UK warned that without intervention, energy-intensive sectors could face long-term decline.Finance minister Rachel Reeves has acknowledged these challenges, announcing more than £10 billion ($13.45 billion) in green infrastructure spending and confirming the creation of a British Industrial Strategy Council to oversee delivery and ensure accountability.Despite the modest size of the skills package, the Labour Party hopes the plan marks a shift away from what Reynolds called “decades of managed decline” and signals a new direction for industrial policy in the UK.

The goal of this move is to address a persistent skills gap in key sectors viewed as central to Britain’s future economic resilience and competitiveness.

Prime Minister Keir Starmer’s government has unveiled the first major pillar of its long-promised industrial strategy, with a £275 million ($370 million) investment package aimed at addressing chronic skills shortages and preparing the UK workforce for future industries. Business Secretary Jonathan Reynolds announced the initiative on June 22, calling it the foundation of a broader 10-year industrial blueprint designed to overhaul the skills system, reduce reliance on foreign labour, and support growth in high-priority sectors such as engineering, defence, AI, and advanced manufacturing. “Our modern industrial strategy will be powered by investing in British people,” Reynolds said. “It will help transform our skills system to end the overreliance on foreign labour and ensure British workers can secure good, well-paid jobs in the industries of tomorrow.” Focus on skills and technical training The £275 million ($370 million) investment will fund the creation of new technical excellence colleges, short courses in digital manufacturing and artificial intelligence (AI), and capital upgrades to existing training providers across England. The goal is to address a persistent skills gap in key sectors viewed as central to Britain’s future economic resilience and competitiveness. The package is expected to benefit thousands of learners and create pathways to employment in sectors identified as growth engines under the Labour Party’s “plan for change”. The funding also builds on previous announcements, including a £3 billion ($4 billion) apprenticeship package and a £187 million ($251 million) fund for AI training. Education Secretary Bridget Phillipson described the strategy as an “economic and social reset”, noting that one in seven young people in the UK are currently not in education or employment. A political counter to reform UK’s rise The timing of the announcement is seen as a direct response to the growing influence of Nigel Farage’s Reform UK party in some parts. With the strategy aimed at revitalising traditional manufacturing heartlands, ministers hope to regain support in so-called red wall constituencies where the Labour Party has faced electoral pressure. Officials say the plan is not only economic but political—part of a broader attempt to challenge Farage’s message of national decline and regain the confidence of working-class voters hit hardest by decades of industrial erosion. Industrial strategy still evolving While the £275 million ($370 million) pledge is being positioned as a headline-grabbing first step, it is not a comprehensive funding package. The full strategy, to be published next week, will include new trade and export policies and efforts to strengthen UK supply chains and connectivity. Business groups and unions are expected to push for further measures, particularly in the areas of energy costs and industrial decarbonisation. A June report by Make UK warned that without intervention, energy-intensive sectors could face long-term decline. Finance minister Rachel Reeves has acknowledged these challenges, announcing more than £10 billion ($13.45 billion) in green infrastructure spending and confirming the creation of a British Industrial Strategy Council to oversee delivery and ensure accountability. Despite the modest size of the skills package, the Labour Party hopes the plan marks a shift away from what Reynolds called “decades of managed decline” and signals a new direction for industrial policy in the UK.

The goal of this move is to address a persistent skills gap in key sectors viewed as central to Britain’s future economic resilience and competitiveness.

UK unveils $370 million skills investment as cornerstone of 10-year industrial strategy

Britain’s consumer engine has hit the brakes.&nbsp;&nbsp;UK retail sales plummeted by 2.7 per cent in May, marking the sharpest drop since December 2023 and raising fresh concerns about the health of the British economy.&nbsp;According to figures released by the Office for National Statistics (ONS) on Friday, the volume of goods sold both online and in physical stores fell far more than the 0.5 per cent decline forecast by economists, as reported by Reuters. This marks the first monthly fall in 2025 after four consecutive months of growth.&nbsp;The data paints a worrying picture for the UK’s second-quarter growth, especially after a strong rebound earlier this year.<h2>Retail rebound stalls despite strong Q1</h2>Retail sales had surged in the first quarter , the strongest since 2021, buoyed by mild weather and improving real wages. But those gains now appear short-lived.&nbsp;According to the ONS, food sales dropped by 5 per cent, while household goods stores saw a 2.5 per cent decline and clothing and footwear sales fell 1.8 per cent. The decline was broad-based, cutting across all major retail categories.&nbsp;The sharp contraction in May suggests that British consumers are starting to feel the pinch, likely from lingering inflationary pressures and rising mortgage costs.<h2>Broader economic risks loom</h2>The disappointing retail figures add to fears that the UK economy could be losing momentum in the second quarter. Gross domestic product (GDP) had grown by 0.7 per cent in Q1 2025, according to ONS data, but signs of weakness began appearing in April when the economy contracted on a monthly basis.&nbsp;Forecasters now expect a sharp deceleration in growth for the current quarter, raising doubts about the durability of the UK’s post-recession recovery.<h2>Market reaction and interest rate outlook</h2>The British pound, which had earlier gained in anticipation of resilient data, pared those gains and was last trading 0.1 per cent higher at $1.3484, as quoted by Reuters.&nbsp;Markets are now betting more strongly on a rate cut from the Bank of England. As of Thursday, traders had priced in 48 basis points of rate cuts by year-end, signalling expectations of a dovish pivot as consumer demand shows signs of fatigue. &nbsp;(With inputs from the agencies) &nbsp;

This downturn follows a strong Q1 rebound, raising fears of declining GDP growth. The British pound fluctuated, with markets now anticipating potential interest rate cuts from the Bank of England.

Britain’s consumer engine has hit the brakes. UK retail sales plummeted by 2.7 per cent in May, marking the sharpest drop since December 2023 and raising fresh concerns about the health of the British economy. According to figures released by the Office for National Statistics (ONS) on Friday, the volume of goods sold both online and in physical stores fell far more than the 0.5 per cent decline forecast by economists, as reported by Reuters. This marks the first monthly fall in 2025 after four consecutive months of growth. The data paints a worrying picture for the UK’s second-quarter growth, especially after a strong rebound earlier this year. Retail rebound stalls despite strong Q1 Retail sales had surged in the first quarter , the strongest since 2021, buoyed by mild weather and improving real wages. But those gains now appear short-lived. According to the ONS, food sales dropped by 5 per cent, while household goods stores saw a 2.5 per cent decline and clothing and footwear sales fell 1.8 per cent. The decline was broad-based, cutting across all major retail categories. The sharp contraction in May suggests that British consumers are starting to feel the pinch, likely from lingering inflationary pressures and rising mortgage costs. Broader economic risks loom The disappointing retail figures add to fears that the UK economy could be losing momentum in the second quarter. Gross domestic product (GDP) had grown by 0.7 per cent in Q1 2025, according to ONS data, but signs of weakness began appearing in April when the economy contracted on a monthly basis. Forecasters now expect a sharp deceleration in growth for the current quarter, raising doubts about the durability of the UK’s post-recession recovery. Market reaction and interest rate outlook The British pound, which had earlier gained in anticipation of resilient data, pared those gains and was last trading 0.1 per cent higher at $1.3484, as quoted by Reuters. Markets are now betting more strongly on a rate cut from the Bank of England. As of Thursday, traders had priced in 48 basis points of rate cuts by year-end, signalling expectations of a dovish pivot as consumer demand shows signs of fatigue. (With inputs from the agencies)

UK retail sales fell 2.7% in May, the steepest decline since December 2023, raising concerns over economic health.&nbsp;

UK retail sales drop 2.7% in May, biggest fall since 2023

London: British police are investigating an overnight fire at a house belonging to UK Prime Minister Keir Starmer in north London in which nobody was hurt. "The Prime Minister thanks the emergency services for their work. The incident is subject to a live investigation, and we will therefore not be commenting further," a spokesperson for Starmer's Downing Street office said. Local media reported London police investigating terror angle.

UK PM Keir Starmer's London home breaks out in fire; police investigate possible terror angle

A resident of Castle Camps in Cambridgeshire placed an upside-down figure in a pothole on Haverhill Road to highlight ongoing road maintenance issues. The large pothole, located near the Suffolk border, has been present for eight months, according to local reports.
James Coxall, a 41-year-old carpenter, created the display using old clothes, rags, and wooden supports. The figure, dressed in jeans and colourful shoes, was positioned upside down in the water-filled pothole and secured with a brick. Coxall said the shoes were intended for donation but were used for the display before being given away.
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The pothole is one of several on Haverhill Road, a route that is not particularly busy but requires drivers to stop or drive through the damaged section when faced with oncoming traffic. Coxall stated that residents have been dealing with the issue for months without resolution.
He shared an image of the display on social media, posting it in the "Odd Things Around Cambridge" group and a local Haverhill community page. He described the action as a lighthearted way to draw attention to the problem and noted that local residents had responded positively.
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Cambridgeshire County Council, in response to the concerns, stated that a highways officer would inspect the road and carry out repairs as needed. The council also encouraged residents to report road defects using its online reporting system.
Potholes have been an ongoing concern in various parts of the UK, with local authorities facing challenges in addressing road maintenance issues. In recent years, residents in multiple areas have taken similar creative approaches to highlight the need for urgent repairs.

Trending: Potholes have been an ongoing concern in various parts of the UK, with local authorities facing challenges in addressing road maintenance issues.

A resident of Castle Camps in Cambridgeshire placed an upside-down figure in a pothole on Haverhill Road to highlight ongoing road maintenance issues. The large pothole, located near the Suffolk border, has been present for eight months, according to local reports. James Coxall, a 41-year-old carpenter, created the display using old clothes, rags, and wooden supports. The figure, dressed in jeans and colourful shoes, was positioned upside down in the water-filled pothole and secured with a brick. Coxall said the shoes were intended for donation but were used for the display before being given away. Also read: ‘Don’t take the bait’: Zelensky was warned hours before White House spat with Trump The pothole is one of several on Haverhill Road, a route that is not particularly busy but requires drivers to stop or drive through the damaged section when faced with oncoming traffic. Coxall stated that residents have been dealing with the issue for months without resolution. He shared an image of the display on social media, posting it in the "Odd Things Around Cambridge" group and a local Haverhill community page. He described the action as a lighthearted way to draw attention to the problem and noted that local residents had responded positively. Also read: Vidya Balan alerts fans about her fake AI-generated videos: ' No involvement in creating or distributing' Cambridgeshire County Council, in response to the concerns, stated that a highways officer would inspect the road and carry out repairs as needed. The council also encouraged residents to report road defects using its online reporting system. Potholes have been an ongoing concern in various parts of the UK, with local authorities facing challenges in addressing road maintenance issues. In recent years, residents in multiple areas have taken similar creative approaches to highlight the need for urgent repairs.

‘Odd things around Cambridge’: Pothole frustration leads UK resident to an unusual form of protest

Blackpool has the highest rate of alcohol-related deaths in England, according to new data from the Department of Health and Social Care. The town records 76 alcohol-related deaths per 100,000 people&mdash;nearly double the national average of 40 per 100,000. South Tyneside, Lincoln, Sunderland, and Gateshead follow closely, highlighting a broader issue affecting northern England.
According to a report by Daily Mail, in addition to the high mortality rate, alcohol dependence in Blackpool significantly exceeds national levels. The latest figures show 39 dependent drinkers per 1,000 people, compared to the national rate of 13.75 per 1,000.&nbsp;
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This growing dependence has contributed to visible social issues in the town, with street drinking becoming a regular occurrence. Business owners and residents have raised concerns over its impact on the town&rsquo;s image and safety.
Justin Connolly, a shop owner near Blackpool&rsquo;s Winter Gardens, described his frustration with street drinkers loitering outside businesses. He noted that their presence discourages customers and that attempts to intervene can sometimes lead to confrontation.
Pensioner Raymond Cotton, who has lived in Blackpool since the 1980s, expressed concern about the town&rsquo;s decline, stating that he often sees groups drinking outside shops and finds the atmosphere increasingly intimidating, particularly after dark.
For some residents, alcohol dependence is tied to deeper struggles. Simmi Thompson, a Blackpool mother, said she turned to drinking after facing family difficulties and losing her home. She explained that while she had always worked in catering and security, a lack of support left her vulnerable to addiction. Others, like her friend Sketch, who sleeps rough, said that drinking helps them cope with life on the streets, especially in cold weather.
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<h2 class="p1">Blackpool Council Report</h2>
A recent Blackpool Council report found that 86 per cent of the town&rsquo;s 4,300 dependent drinkers or addicts were not receiving treatment. Many residents struggling with alcohol also face gambling-related harm, with Citizens Advice reporting a 28 per cent rise in gambling problems among young people and a doubling of cases among adults between 2019 and 2022. The town&rsquo;s economic decline, driven by the collapse of its tourism industry and an oversupply of low-quality housing, has further contributed to instability.
The link between alcohol and social issues in Blackpool is a growing concern. With high levels of addiction, a struggling economy, and limited support services, the town faces ongoing challenges in addressing its drinking problem. The new figures reinforce the need for long-term intervention to support those affected and reduce the wider impact on the community.

World: The town’s economic decline, driven by the collapse of its tourism industry and an oversupply of low-quality housing, has further contributed to instability.

Blackpool has the highest rate of alcohol-related deaths in England, according to new data from the Department of Health and Social Care. The town records 76 alcohol-related deaths per 100,000 people—nearly double the national average of 40 per 100,000. South Tyneside, Lincoln, Sunderland, and Gateshead follow closely, highlighting a broader issue affecting northern England. According to a report by Daily Mail, in addition to the high mortality rate, alcohol dependence in Blackpool significantly exceeds national levels. The latest figures show 39 dependent drinkers per 1,000 people, compared to the national rate of 13.75 per 1,000. Also read: No alcohol for fans during FIFA World Cup 2034 in Saudi Arabia – Report This growing dependence has contributed to visible social issues in the town, with street drinking becoming a regular occurrence. Business owners and residents have raised concerns over its impact on the town’s image and safety. Justin Connolly, a shop owner near Blackpool’s Winter Gardens, described his frustration with street drinkers loitering outside businesses. He noted that their presence discourages customers and that attempts to intervene can sometimes lead to confrontation. Pensioner Raymond Cotton, who has lived in Blackpool since the 1980s, expressed concern about the town’s decline, stating that he often sees groups drinking outside shops and finds the atmosphere increasingly intimidating, particularly after dark. For some residents, alcohol dependence is tied to deeper struggles. Simmi Thompson, a Blackpool mother, said she turned to drinking after facing family difficulties and losing her home. She explained that while she had always worked in catering and security, a lack of support left her vulnerable to addiction. Others, like her friend Sketch, who sleeps rough, said that drinking helps them cope with life on the streets, especially in cold weather. Also read: England sees 'catastrophic rise' in deaths caused by alcohol; govt to prioritise public health: Data Blackpool Council Report A recent Blackpool Council report found that 86 per cent of the town’s 4,300 dependent drinkers or addicts were not receiving treatment. Many residents struggling with alcohol also face gambling-related harm, with Citizens Advice reporting a 28 per cent rise in gambling problems among young people and a doubling of cases among adults between 2019 and 2022. The town’s economic decline, driven by the collapse of its tourism industry and an oversupply of low-quality housing, has further contributed to instability. The link between alcohol and social issues in Blackpool is a growing concern. With high levels of addiction, a struggling economy, and limited support services, the town faces ongoing challenges in addressing its drinking problem. The new figures reinforce the need for long-term intervention to support those affected and reduce the wider impact on the community.

‘4,300 addicts’: This British town is drowning in alcohol and gambling crisis

A new report warns that the UK’s military presence in Brunei, a strategically crucial country, is at ‘substantial risk’ due to China's growing influence.

UK's military base in Brunei at 'substantial risk' from China

China's growing influence in Southeast Asia is posing a challenge to the UK's military presence in Brunei. As China strengthens its strategic foothold in the region, concerns over the stability of UK operations are increasing. This shift in regional power dynamics may force the UK to reassess its defense strategies in Asia.

China's rising influence threatens UK's military presence in Brunei

UK&rsquo;s Home Secretary Yvette Cooper has warned social media platforms to remove extreme and illegal content, said a report by Telegraph. She expressed concern that just such content could encourage people to commit acts of violence.&nbsp;
Cooper&rsquo;s statement came after Axel Rudakubana, convicted of murdering three young girls in Southport, had access to violent materials online before the attack. &nbsp;
Rudakubana, sentenced to a minimum of 52 years in prison, viewed content including footage of an Islamist attack on an Australian bishop and downloaded an al-Qaeda manual. Despite the materials being flagged by the Home Office as aiding terrorism trials, they remain accessible on some platforms. &nbsp;
Cooper and Science Secretary Peter Kyle have written to major social media companies, including Google, TikTok, X (formerly Twitter), and Meta, urging immediate removal of the content. Their letter emphasized the need for platforms to act swiftly to prevent further unlawful access to such materials, particularly those linked to Rudakubana&rsquo;s case. &nbsp;
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While stricter regulations under the Online Safety Act will require tech companies to remove illegal content from March, the ministers urged immediate voluntary action.&nbsp;
They argued that companies have a moral obligation to prioritise public safety and ensure harmful content is not used to inspire further violence.&nbsp;&nbsp;
The investigations revealed that Rudakubana searched for graphic footage of the Australian attack, which remains available in the UK despite being removed in Australia.&nbsp;
Law enforcement agencies have also faced challenges accessing the suspect&rsquo;s full internet history.&nbsp; Rudakubana deleted all the records before carrying out the attack.&nbsp;
The case has prompted renewed scrutiny of the UK&rsquo;s counter-radicalisation program 'Prevent', particularly regarding individuals with a fixation on violent acts, such as school massacres.&nbsp;
Cooper has called for an end-to-end review to address gaps in how neurodiverse individuals are assessed within the program.&nbsp;&nbsp;
Additionally, the government is considering measures to tighten online knife sales. Rudakubana purchased the weapon used in the killings from Amazon at 17, despite prior offences involving knives. Proposed changes may require stricter ID verification for such purchases.

Cooper’s statement came after Axel Rudakubana, convicted of murdering three young girls in Southport, had access to violent materials online before the attack.  

UK’s Home Secretary Yvette Cooper has warned social media platforms to remove extreme and illegal content, said a report by Telegraph. She expressed concern that just such content could encourage people to commit acts of violence. Cooper’s statement came after Axel Rudakubana, convicted of murdering three young girls in Southport, had access to violent materials online before the attack. Rudakubana, sentenced to a minimum of 52 years in prison, viewed content including footage of an Islamist attack on an Australian bishop and downloaded an al-Qaeda manual. Despite the materials being flagged by the Home Office as aiding terrorism trials, they remain accessible on some platforms. Cooper and Science Secretary Peter Kyle have written to major social media companies, including Google, TikTok, X (formerly Twitter), and Meta, urging immediate removal of the content. Their letter emphasized the need for platforms to act swiftly to prevent further unlawful access to such materials, particularly those linked to Rudakubana’s case. Also read: Trump says UK PM Starmer is doing 'very good job' despite 'first buddy' Elon Musk's criticism While stricter regulations under the Online Safety Act will require tech companies to remove illegal content from March, the ministers urged immediate voluntary action. They argued that companies have a moral obligation to prioritise public safety and ensure harmful content is not used to inspire further violence. The investigations revealed that Rudakubana searched for graphic footage of the Australian attack, which remains available in the UK despite being removed in Australia. Law enforcement agencies have also faced challenges accessing the suspect’s full internet history. Rudakubana deleted all the records before carrying out the attack. The case has prompted renewed scrutiny of the UK’s counter-radicalisation program 'Prevent', particularly regarding individuals with a fixation on violent acts, such as school massacres. Cooper has called for an end-to-end review to address gaps in how neurodiverse individuals are assessed within the program. Additionally, the government is considering measures to tighten online knife sales. Rudakubana purchased the weapon used in the killings from Amazon at 17, despite prior offences involving knives. Proposed changes may require stricter ID verification for such purchases.

UK's Home Secretary warns tech giants of a 'second Southport' if extreme content isn't removed

UK Prime Minister Keir Starmer is under fire for his past role as the Director of Public Prosecutions. Critics argue his decisions during that time could impact his leadership and political standing in the current government.

UK PM Keir Starmer under fire for his role as Director of Public Prosecutor

The UK government is taking action to criminalize sexually explicit deepfakes, responding to increasing concerns over privacy violations and digital harm. This move aims to protect individuals from non-consensual imagery created through AI technology.

Britain to criminalize sexually explicit deepfakes amid rising concerns

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