London’s black cab industry is at risk of disappearing entirely by 2045 if current trends continue, according to a new report by Centre for London. The research highlights a dramatic decline in the number of taxis on the capital’s roads and warns that urgent intervention is needed from the government, the Mayor of London, and Transport for London (TfL) to ...
HM Revenue & Customs (HMRC) has significantly increased the number of Research and Development (R&D) tax relief claims it has “corrected” using controversial powers, sparking concerns that the tax authority is bypassing due process. New data obtained by accountancy firm Price Bailey through a Freedom of Information request reveals that HMRC’s Fraud Investigation Service (FIS) amended 2,440 claims for R&D ...
Elon Musk’s Starlink internet service has been installed at the White House, raising fresh concerns over potential conflicts of interest as the billionaire’s influence within the Trump administration continues to grow. The New York Times reported that Starlink was introduced to “improve WiFi connectivity” at the White House complex, according to press secretary Karoline Leavitt. However, the installation led to ...
Rachel Reeves is under pressure to ramp up government spending on research and development (R&D) to £30 billion by the end of the decade, as business leaders warn that the UK risks falling behind global innovation powerhouses. The Confederation of British Industry (CBI) is calling on the chancellor to set an “ambitious and world-leading goal” of increasing R&D spending to ...
As the Spring Statement approaches, the UK’s small and medium-sized businesses (SMEs) are holding off on major investment decisions, despite strong ambitions for growth. New research from independent funder Bibby Financial Services (BFS) shows that 87% of SMEs plan to invest this year, with two-thirds (66%) expecting sales to rise over the next six months. However, economic uncertainty surrounding the ...
Donald Trump’s threat to impose a 200% tariff on wine and champagne imports from the European Union could provide an unexpected boost for English sparkling wine, as US importers look for alternatives to French champagne. Hugo Stewart, a winemaker based in Wiltshire, had been considering cancelling a planned tasting trip to the United States but is now reconsidering after Trump’s ...
Britain’s two largest steelmakers have warned that President Donald Trump’s tariffs are already causing a decline in business from American customers, with further economic damage expected in the months ahead. Tata Steel, which operates from Port Talbot, and British Steel, which runs the Scunthorpe steelworks, say the 25% tariff on British steel and aluminium exports to the US has “spooked ...
AstraZeneca abandoned plans for a £450 million expansion of its vaccine site in northwest England after the UK government failed to meet a critical funding deadline, the company’s UK chairman has told MPs. The FTSE 100 pharmaceutical company’s decision to withdraw its investment in the Speke, Liverpool site in January sparked political controversy, as the government seeks to attract private ...
The UK government’s decision to integrate artificial intelligence into public sector operations has raised concerns over potential job losses, particularly within the civil service. However, leading software consultancy Scott Logic has argued that the adoption of AI will drive efficiency and open up new opportunities rather than eliminate roles. The civil service workforce has expanded significantly in recent years, now ...
Jonathan Reynolds will urge Donald Trump’s administration to exempt British steel from punitive tariffs as he embarks on high-stakes trade negotiations in Washington. On Tuesday, the Business Secretary will become the first UK minister to hold direct talks with the new Trump administration, aiming to secure crucial exemptions from the US president’s global tariff regime. Mr Reynolds is set to ...