HS2 has revealed more than £2bn in costs associated with Rishi Sunak’s decision to downgrade the high-speed rail line.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Reeves accuses Hunt of ‘deliberate lies’ over public finances
Rachel Reeves claims Jeremy Hunt knowingly lied about the state of public finances, citing a £22bn shortfall. Hunt denies the allegations, sparking a political row.
UK mortgage approvals drop to six-month low as high borrowing costs deter buyers
Mortgage approvals in the UK fell to their lowest level since January, as high interest rates continue to suppress housing market activity, according to Bank of England data.
Private schools to charge VAT from January as Reeves closes payment loophole
Starting January, VAT will be imposed on private school fees. Chancellor Rachel Reeves states this will fund 6,500 new teachers, despite criticism from private schools.
Postmasters wrongfully prosecuted to receive unlimited compensation in Horizon scandal
Postmasters wrongly convicted due to the faulty Horizon IT system will get unlimited compensation from a £1 billion fund. The scheme offers at least £600,000 per claimant.
Reeves scraps winter fuel payments for 10M pensioners to fund public sector pay rise
Chancellor Rachel Reeves plans to save £5.5bn by cutting winter fuel payments for 10 million pensioners, redirecting funds to public sector pay rises, while signalling potential tax increases.
Reeves’ tax raid spells ‘game over’ for North Sea oil and gas
Rachel Reeves’ expanded tax raid on oil and gas companies could mark the end of the North Sea industry, risking jobs and investment, warn industry leaders.
Economists suggest wealth taxes could generate £10bn to address Tory budget deficit
Reforming inheritance and capital gains taxes could raise £10bn annually, helping to bridge the Conservative budget gap and address wealth inequality, according to economists.
UK drops out of top ten manufacturing nations as Russia and Mexico overtake
The UK has dropped out of the top ten global manufacturing nations for the first time, as reported by Make UK. Discover the factors behind this shift and the urgent call for a long-term industrial strategy to revitalise the sector.
Rachel Reeves set to slash spending and sell off empty buildings
Rachel Reeves, the Chancellor, is set to unveil a series of stringent measures aimed at balancing the nation’s finances.
Farnborough Airshow 2024 secures £13bn in deals for UK aerospace sector
The Farnborough International Airshow 2024 has generated £13bn in deals for the UK, showcasing the resilience and confidence of the aerospace sector. Learn more about the significant agreements and industry insights.
Reeves to reveal £19bn financial gap amid tax hike plans
Labour Chancellor Rachel Reeves is set to reveal a £19bn gap in public finances, citing pressures on the NHS, prisons, and schools. Expected tax hikes are aimed at addressing the funding shortfall.
Airbus secures major 90-aircraft order from Flynas at Farnborough Airshow
Airbus has secured a significant order for 90 aircraft from flynas at the Farnborough International Airshow, comprising 75 A320neo and 15 A330-900 planes.
Watchdog imposes record £48m in fines on audit firms
The Financial Reporting Council issued a record £48.2 million in fines to audit firms, including KPMG, EY, PwC, and Oliver Clive & Co, for major audit failures.
OpenAI challenges Google’s search engine dominance with launch of SearchGPT
OpenAI launches SearchGPT, a prototype AI-powered search engine, challenging Google’s dominance with real-time information and enhanced conversational capabilities.
