The Government has put electric vehicles and batteries at the sharp end of its Modern Industrial Strategy, targeting more than 1.3 million cars and commercial vehicles a year by 2035 and a home‑grown supply chain from raw materials to recycling. A new £2.5 billion package for the auto sector, lower industrial power prices and a £452 million battery R&D drive headline the ...
The Treasury is examining reforms to inheritance tax (IHT) and capital gains tax (CGT) as part of efforts to raise billions of pounds ahead of the autumn budget, with officials tasked with finding ways to address a deficit estimated at more than £40bn. According to Whitehall sources, one focus is on tightening rules around lifetime gifting – a common method ...
The UK labour market continued to cool over the summer, with job vacancies falling 5.8% to 718,000 between May and July, according to the Office for National Statistics (ONS). It marks the 37th consecutive monthly decline in vacancies, taking openings well below pre-pandemic levels. The ONS said almost every sector saw a drop, with some employers opting not to recruit ...
The Government has put electric vehicles and batteries at the heart of its Modern Industrial Strategy, with an explicit aim to lift UK output to more than 1.3 million cars and commercial vehicles by 2035 and to anchor gigafactories and their supply chains on British soil. The Advanced Manufacturing Sector Plan, published as part of the strategy, couples long‑term funding ...
The UK Government has set out a sweeping plan to make Britain “the best place in the world to start, grow and invest” in advanced manufacturing by 2035—aiming to near‑double annual business investment in the sector from £21 billion to £39 billion while sharpening the country’s edge in six frontier industries. The plan couples cheaper energy for factories with fresh ...
Immersive dining brand Six by Nico has launched ‘Six by You’, a new community-first crowdfunding initiative giving loyal customers the chance to become co-owners of the business. The scheme, now live on Crowdcube, follows an early access phase in which more than 3,800 community members invested over £1.75 million in just five days. From today, the offer is open to ...
Virgin Media O2 has launched a £1 million talent fund to help charities, local authorities, small businesses and social enterprises train apprentices in science, technology, engineering and maths (STEM), aiming to break down the financial and structural barriers that prevent smaller organisations from investing in early careers talent. The scheme will allow eligible organisations to draw on Virgin Media O2’s ...
The government should introduce an apprenticeship guarantee for all 16 to 24-year-olds to help young people into work as the UK labour market continues to cool, according to the Chartered Institute of Personnel and Development (CIPD). Responding to the latest Office for National Statistics (ONS) labour market data, James Cockett, senior labour market economist at the CIPD, warned that rising ...
UK consumer spending rebounded in July as the “lipstick effect” and major entertainment events, including the Oasis reunion tour, encouraged shoppers to splash out on affordable luxuries, according to Barclays. The bank, which tracks 40% of UK card transactions, reported that sales increased 1.4% year-on-year last month, recovering from a 0.1% decline in June. The rise was driven by entertainment, ...
The government must act urgently to close the widening pensions gap between employees and self-employed workers or risk fuelling a future retirement crisis, the Social Market Foundation (SMF) has warned. In a new report commissioned by digital bank Monzo, the think tank said the self-employed are “at most risk” of inadequate retirement provision and should be given targeted, personalised prompts ...