Public trust in pensions declines for the first time in five years May 14, 2025 The government is facing a fresh headache in its pension reform plans as new research shows trust in the industry declined for the first time in five years. Average trust in the industry has dipped to 5.23 out of 10, from a peak of 5.26, according to the fifth Trust and Confidence Index released by [...]
Small businesses ‘held back’ by £112bn of late payments May 14, 2025 Small and medium-sized businesses (SMEs) are owed some £112bn in late payments, new research has suggested, with buyers “holding back” UK growth. Nearly 5.5m companies with fewer than 250 employees and modest revenues are seen as the “backbone” of the UK economy and key to unlocking growth. But new research by the Centre for Economics [...]
Starmer: Unemployment jump not caused by my government May 14, 2025 The Prime Minister has denied the 10 per cent rise in unemployment since last year’s election is the fault of his government, arguing that the recently struck trade deals with India and the United States will boost jobs and the UK economy. During a fiery exchange at Prime Minister’s Questions, Keir Starmer accused Kemi Badenoch [...]
Labour’s regional growth plan sees 12,000 civil servants moved outside London May 14, 2025 The government is on a mission to relocate 12,000 civil servant jobs across the UK to save taxpayers money — to the tune of £94m a year by 2032. Cabinet Office minister Pat McFadden told the BBC this morning he hopes relocating civil servants “will make this government one that better reflects the country it [...]
Cutting migration without upskilling British workers will be an economic disaster May 14, 2025 Without radical changes to how we train domestic workers, disincentivising skilled migration will harm the economy, says Zoe Jacob The government’s White Paper on ‘Restoring Control over the Immigration System’ has caused consternation among immigration professionals. This resistance is driven by the strength of the language used – in his foreword, the Prime Minister states [...]
Is Rachel Reeves breaking up with the OBR? May 14, 2025 Morning Wire’s City Editor, Simon Hunt, unpicks the stories that get the Square Mile talking Rachel Reeves will do anything to keep the Office for Budget Responsibility (OBR) on side. Or so we thought. The chancellor made a number of last-minute changes to her Spring Statement to ensure her fiscal headroom stayed on target, including [...]
FCA to rip up insurance rules in drive for growth May 14, 2025 The Financial Conduct Authority has outlined plans to ditch “outdated or duplicated” insurance rules in a bid to help firms reduce costs and drive competition. The City regulator’s fresh proposals would hand firms greater responsibility over reviewing the value of their product. This would involve companies using the risks and characteristics of each individual product [...]
Business Secretary can’t commit to lower energy costs in industrial strategy May 14, 2025 Business Secretary Jonathan Reynolds was unable to confirm whether the government’s upcoming industrial strategy will include a roadmap to lower industrial energy costs and help for businesses wrestling with high prices. Reynolds faced questions from MPs on the Business and Trade committee yesterday over whether he could guarantee lower costs for industry. He told the [...]
UK jobs markets suffers a fainting fit…will the patient get worse? May 14, 2025 We now know that since the start of the year the number of payrolled employees in the UK has fallen by around 100,000 – adding to the emerging narrative that when it comes to employment, things are going in the wrong direction. Fewer people employed, fewer vacancies and fewer jobs likely to be created. The [...]
‘Cautious welcome’: City bigwigs react to Mansion House Accord May 14, 2025 City analysts and politicians have been probing the ramifications of the Mansion House Accord, a new deal spearheaded by the government that aims to encourage more diverse investments by pension funds. The accord, which was signed by seventeen major pension funds yesterday, is a voluntary commitment to allocate ten per cent of funds to private [...]