The OECD has called on Chancellor Rachel Reeves to launch an in-depth review of Britain’s “inefficient” tax system, warning distortions and loopholes are throttling investment and growth. Read more: OECD urges reeves to overhaul ‘inefficient’ UK tax system
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Britain set new solar generation records on consecutive days this week, hitting 14.4GW, as the government approved the Springwell solar farm in Lincolnshire — the UK’s largest. Read more: Britain smashes solar records as ministers greenlight country’s largest solar farm
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The government has announced £100m in new investment for start-ups and scale-ups through expanded EIS, VCT and EMI schemes, but business leaders say established firms paying higher National Insurance are being left behind. Read more: Government’s £100m pledge for innovators dismissed as a drop in the ocean after £25bn National Insurance raid
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Loss-making broadcaster GB News has urged the government to open up public service media grants to competitive tender, arguing funding should not be reserved exclusively for the BBC. Read more: GB News makes its pitch for a slice of public broadcasting funds
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The UK government will direct £7.4bn annually to small businesses by 2028, setting new departmental targets to boost SME growth and local economies. Read more: Government sets £7.4bn target to boost SME contracts across UK
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UK borrowing costs surge to highest since 2008 as gilt yields hit 5%, driven by energy price spikes and inflation fears linked to Middle East conflict. Read more: UK borrowing costs hit highest level since 2008 as markets reel from energy shock
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A proposed UK holiday tax could cost 33,000 jobs and reduce tourism spending by £1.8bn, with industry leaders warning it would harm growth and competitiveness. Read more: Holiday tax could cost 33,000 jobs and £700m in lost revenue, industry warns
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UK borrowing jumps to £14.3bn, raising concerns over limited government capacity to support households as energy bills rise amid Middle East tensions. Read more: Surge in UK borrowing limits scope for energy bill support as fiscal pressures mount
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Farmers and business owners launch a High Court challenge against UK inheritance tax reforms, arguing the government failed to properly consult on major APR and BPR changes. Read more: Farmers launch High Court challenge over inheritance tax reforms amid consultation row
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UK aims to produce 50% of its steel domestically as import quotas are cut and a 50% tariff introduced, sparking industry support and political criticism. Read more: UK sets 50% domestic steel target as tariffs ramp up on imports
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