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Chancellor Rachel Reeves will present her first full autumn budget. The Treasury has announced the date as 26 November, with speculation over potential tax increases to address a public finance shortfall of up to £40 billion.
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The UK is becoming a top destination for tech businesses. Barclays reports that UK tech leaders favour their market over Europe, Asia-Pacific, and the US, citing strong opportunities and talent access. Rising AI demand and economic confidence bolster growth.
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Ineos invests in Castore, shifting Belstaff ownership in strategic deal. The company’s strategic investment in sports apparel brand Castore facilitates Castore’s acquisition of heritage brand Belstaff, marking a shift towards luxury fashion.
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Virgin StartUp launches ‘Momentum’ accelerator programme to support dyslexic entrepreneurs. The programme aims to help dyslexic founders scale their businesses through workshops, mentoring, and resources. Dyslexic entrepreneurs contribute significantly to the UK economy, with many possessing skills ideal for entrepreneurship.
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Ofgem raises energy price cap by 2% for October-December. Despite a decline in wholesale prices, typical household energy costs will rise to £1,755 annually. The increase is less than 2024’s inflation-adjusted figure and £625 below the 2023 peak.
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UK banks close over a third of branches in five years. Traditional banks have significantly reduced their physical presence, citing increased digital banking adoption. This trend is driven by changing customer preferences, though it has raised concerns about access to cash services.
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The Youth Guarantee trailblazer scheme has been extended by £45m. Ministers say the latest ONS figures — nearly one million young people classified as NEET — underscore the urgency. The extension supports eight regional pilots delivering personalised interventions, though critics warn that stronger action is still needed.
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Eurozone businesses show growth as UK company confidence remains fragile. Fresh data reveals continental factories and services gaining pace, while UK surveys highlight costs, labour pressures, and deep uncertainty. But why is Europe moving forward while Britain struggles to find momentum?
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Rachel Reeves may extend the freeze on income tax thresholds. Such a move could increase the tax burden on high earners and draw more individuals into higher tax brackets. Analysts predict potential tax rises to address fiscal challenges.
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Europe is losing climate ground, warns the bloc’s first commissioner. Former EU climate chief Connie Hedegaard has warned that political and corporate complacency is eroding the European Union’s environmental leadership. Her remarks follow a series of policy rollbacks and investor concerns over the credibility of Europe’s net zero transition.