Rachel Reeves oversees higher government borrowing than expected July 22, 2025 Government borrowing has overshot predictions, putting Rachel Reeves under more pressure to take control of public finances. The Office for National Statistics (ONS) said public sector borrowing hit £20.7bn in June, higher than market expectations which pencilled in just over £17bn in borrowing. Borrowing in June this year was some £6bn more than at the [...]
UK government to sanction companies driving illegal migration July 22, 2025 The UK government is set to introduce a new sanctions regime targeting people smuggling gangs and rogue companies driving illegal migration as part of efforts to curb small boat crossings and stop modern slavery in the UK. In new reforms unveiled by the Foreign Office, individuals and companies responsible for irregular migration will see their [...]
Top bosses briefed by Foreign Office on global risks July 21, 2025 Top business executives are set to receive briefings from the Foreign Office on global risks including conflicts and trade tensions as part of a wider strategy to help UK firms expand overseas. Representatives of the Premier League, Lloyds Bank and PwC are among those attending a first-of-its-kind event at Lancaster House where leading diplomats are [...]
Rachel Reeves should tweak fiscal rules to ease pressure, IFS says July 21, 2025 Chancellor Rachel Reeves should bring forward a change to fiscal rules to ease pressures faced at spring fiscal events, a leading economics think tank has urged. In a new briefing on public finances, the Institute for Fiscal Studies (IFS) said Rachel Reeves should refrain from changing the number of times the Office for Budget Responsibility [...]
Labour to target rule-breaking ministers with financial sanctions July 21, 2025 Rule-breaking ministers will be targeted with sanctions and a new watchdog will be set up to improve standards in public life under new reforms introduced by the Labour government. As part of efforts to improve behaviour across politics, Keir Starmer has replaced an independent watchdog for former ministers – the Advisory Committee for Business Appointments [...]
Reeves warned pensions tax raid could cost UK in the long run July 21, 2025 City platform Hargreaves Lansdown has warned Rachel Reeves that “tinkering” with the pension tax relief could cost the UK in the long run and undermine the government’s fresh attempts to get workers to save more into retirement. The return of the Pensions Commission, which will report its findings on the adequacy of retirement savings in [...]
Ofwat to be replaced with ‘new regulator’ amid Thames Water crisis July 18, 2025 Ofwat, the water watchdog, is expected to be abolished and replaced by a new body next week after facing intense scrutiny over sewage firms and the poor performance of major companies including Thames Water, according to reports. A consultation on the creation of a new regulator is expected to be announced next week after results [...]
Doctors strike: Streeting floats student loan write-off in BMA meeting July 18, 2025 Wes Streeting could offer to write off student loan debt for doctors to persuade the British Medical Association (BMA) to call off a planned strike. The idea came up in an extended meeting between the health secretary and the medical union, just a week out from a five day walkout which could involve as many [...]
Government to lower voting age to 16 and tighten donation rules July 17, 2025 The government will lower the voting age to 16 at the next election and tighten checks on political donations in sweeping reforms aimed at “restoring trust” in democracy and elections. In democratic changes led by deputy prime minister Angela Rayner, the government said it would tighten rules on foreign donations to political parties, which it [...]
Week in Business: Reeves bets on the banks but economy still hurting July 17, 2025 Rachel Reeves set out to charm the City this week, but elsewhere, the economy is reeling from high taxes and low confidence.