Disposable income has dropped for a fourth month, with one in five UK households unable to cover essential bills, as rising costs and weak labour markets add pressure ahead of Rachel Reeves’ Budget.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Lakshmi Mittal, one of Britain’s richest men, leaves UK amid tax overhaul
Steel billionaire Lakshmi Mittal has left the UK for Switzerland and Dubai after Labour’s tax reforms and the abolition of non-dom status, making him the latest ultra-high-net-worth figure to relocate.
From today, women in the EU symbolically work for free as gender pay gap persists
Women in the EU symbolically “work for free” from 17 November as the 12% gender pay gap persists, prompting renewed calls from the European Commission to accelerate equality reforms.
UK launches Critical Minerals Strategy to reduce import reliance and power next-generation industries
The UK has launched a new Critical Minerals Strategy to cut import dependence, produce 10% of minerals domestically, expand recycling to 20%, and back industry with £50m to secure supplies for EVs, defence and clean energy.
MPs to deliver 152,000-signature petition urging Chancellor to cut or freeze fuel duty
A cross-party group of MPs will deliver a 152,000-signature FairFuelUK petition urging Rachel Reeves to cut or freeze fuel duty amid warnings of economic harm from potential tax rises.
Late-night economy faces loss of 10,000 businesses and 150,000 jobs by 2028 unless Budget intervenes, industry warns
Industry leaders warn Britain could lose 10,000 late-night venues and 150,000 jobs by 2028 unless the Autumn Budget delivers urgent support amid rising costs and tax pressures.
Retail sales fall as shoppers delay spending ahead of Budget and Black Friday
UK retail sales fell 1.1% in October as shoppers held off purchases ahead of the Budget and Black Friday, raising concerns about festive trading and consumer confidence.
Government borrowing overshoots forecast by £9.9bn, piling pressure on Reeves before Budget
Government borrowing is £9.9bn higher than forecast so far this fiscal year, deepening pressure on Rachel Reeves as she prepares a tax-heavy Budget amid rising debt costs.
Government unveils major AI investment package to drive UK growth and create thousands of jobs
The government has unveiled a major AI investment package, including a £10bn South Wales AI Growth Zone and £350m in national AI infrastructure funding to boost UK innovation and jobs.
Eurotunnel halts UK investment after ‘confiscatory’ plan to triple business rates
Eurotunnel has frozen UK rail investments after the VOA proposed a 200% rise in its business rates bill, warning the move could trigger higher Eurostar fares and jeopardise freight expansion plans.
Six in ten founders say Labour is ‘anti-business’, new survey finds
Nearly two-thirds of fast-growth business founders believe the Labour government is “anti-business”, according to a new survey from Helm, one of the UK’s largest networks of scale-up entrepreneurs.
Tories demand answers from OBR over Reeves’s income tax backtrack
The Conservatives have accused Rachel Reeves of undermining the Budget process and misusing OBR forecasts after dropping plans for an income tax rise, prompting demands for transparency over her decision.
Barclays accused of shutting entrepreneur’s bank account over her OnlyFans work
Tech founder Madelaine Thomas says Barclays shut her bank account and refused a business account because she earns income from OnlyFans, despite FCA warnings against denying services to adult workers.
Make UK signs new partnership with Canadian manufacturers to boost trade and technology collaboration
Make UK has signed a major partnership with Canadian Manufacturers & Exporters to boost bilateral trade, technology innovation and defence collaboration between the UK and Canada.
Budget uncertainty forces home movers to pause plans, Rightmove finds
Nearly 20% of prospective home movers have paused plans due to uncertainty over possible property tax changes in next week’s Budget, Rightmove says, as house price growth slows and confidence dips.
