Merck warns UK is ‘not internationally competitive’ as it scraps £1bn London research centre September 10, 2025 Merck has pulled out of a planned £1bn London drug research centre in the latest blow to the government’s growth agenda. The US pharma giant is to lay off 127 staff alongside abandoning the construction project, which had been set to open in King’s Cross in 2027. The firm warned the UK would lag behind [...]
Starmer backs Mandelson amid calls for his sacking September 10, 2025 Keir Starmer has said he has “full confidence” in the UK’s ambassador to the US Peter Mandelson despite calls from his own backbenches for him to be sacked over new revelations about his links to the notorious Jeffrey Epstein. The prime minister said “due process” was followed around Mandelson’s appointment to his key ambassadorial role [...]
Chancellor concedes higher taxes could hit economic growth September 10, 2025 Chancellor Rachel Reeves has acknowledged higher taxes could impact economic growth as she seeks to increase private investment in the UK. Speaking at the British Private Equity and Venture Capital Association summit, the chancellor told investors she had to hike taxes in her maiden budget in order to place finances on a “firm footing and [...]
Mervyn King: UK debt is ‘not in a comfortable position’ September 10, 2025 The UK’s national debt load is “not in a comfortable position” and the government faces a “real challenge” in managing fiscal policy, the former Governor of the Bank of England has said. Speaking to Lords at a committee hearing on Wednesday, Mervyn King said the UK was in a “much stronger position” before the financial [...]
ABF: Primark owner’s shares sink as sales slow at FTSE 100 giant September 10, 2025 Shares in Primark owner Associated British Foods (ABF) have plunged after posting what analysts branded a “mixed bag” of results. The FTSE 100 warned that challenging conditions were weighing on the company’s trading, listing consumer caution, geopolitical uncertainty and inflation as top factors. Shares plunged 13 per cent on the news to their lowest value [...]
CBI boss calls for Rachel Reeves to break Labour’s tax pledge September 10, 2025 The boss of the Confederation of British Industry (CBI) has suggested the chancellor should tear up Labour’s manifesto pledge not to raise taxes on working people, as businesses brace themselves ahead of the Autumn Budget. Rachel Reeves is widely expected to introduce a fresh package of tax hikes in her 26 November Budget, in order [...]
No 10 establishes ‘budget board’ to mend fractured business relations September 10, 2025 Sir Keir Starmer has created a “budget board” of ministers and officials in a bid to mend broken relations with businesses and the City – and tighten his grip on economic policy. The group will meet weekly to co-ordinate ‘pro growth policies’ ahead of the looming Autumn Budget on 26 November. It is also expected [...]
Hard truths from Lord Rose and Badenoch the thorn September 10, 2025 Yesterday was a day for hard truths and straight talking. It began with City veteran Lord Rose who said the UK is “at the edge of a crisis.” The former M&S chief and Asda chair said that after working for more than 50 years, and despite a predisposition to optimism, he looks at the state [...]
Competition is key to turning British scale-ups into global firms September 10, 2025 As other countries reap the benefits of home-grown UK talent, the CMA is committed to cracking the UK's scale-up challenge, writes Sarah Cardell.
The public won’t reward government overspending – just ask Ed Miliband September 10, 2025 Ed Miliband went on and on about the cost of living crisis in 2015, but he lost that election because the public could see his sums on spending didn’t add up. Cuts, not tax rises, are the only way to avert a crisis, says John O’Connell We are in a cost of living crisis. Aren’t [...]