IBISWorld presents a collection of fast facts for the different sectors of the UK economy.
Agriculture, Forestry & Fishing
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The government released the 2025 Farming Equipment and Technology Fund (FETF), allocating £46 million to assist farmers in investing in modern equipment to boost farming productivity and support sustainability. This funding provides grants that cover between 40% and 50% of equipment costs, ranging from £1,000 to £25,000 per category of funding. The categories include improving productivity, enhancing slurry management and boosting animal health and welfare.
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In the June Spending Review, Defra secured a multi-year funding commitment of over £2.7 billion from HM Treasury for sustainable farming and nature recovery from 2026-27 to 2028-29. Funding for the Environmental Land Management Schemes will increase by 150%, rising from £800 million in 2023-24 to £2 billion by 2028-29. However, the government announced a £100 million cut to various farming and countryside programmes, including the Sustainable Farming Incentive, Countryside Stewardship and Landscape Recovery. The National Farmers’ Union expressed frustration over these cuts and the Chancellor's decision not to reverse the inheritance tax.
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On 3 July 2025, the government announced a new £150 million funding round as it reopened the capital grants scheme to support various farming practices. This funding will aid on-farm improvements like tree planting, flood prevention, upgrading slurry systems and enhancing water filtration. The goal of these capital grants is to boost farmers' profitability while safeguarding natural resources like soil and water.
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The UK agriculture sector faces mounting challenges due to prolonged drought conditions, policy shifts and financial pressures. Spring 2025 has been the driest in nearly 70 years, leading to crop failures and early irrigation efforts, particularly affecting wheat yields in regions like East Anglia and Yorkshire. Compounding these issues, the government's abrupt halt of the Sustainable Farming Incentive scheme left approximately 3,000 farmers without expected subsidies. Additionally, proposed inheritance tax reforms have sparked widespread protests, with farmers concerned about the viability of passing farms to the next generation. These factors collectively threaten the stability and sustainability of UK farming.
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Research from the Energy and Climate Intelligence Unit reveals that 87% of farmers have faced reduced productivity due to extreme weather conditions. Among them, 84% reported a drop in crop yields and over three-quarters experienced a decline in income. The survey of 300 UK farmers indicates that in the past five years, 78% have been affected by drought and more than half have suffered from the impacts of heatwaves.
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According to Defra's farmer income figures, released in June 2025, UK farm income increased from £6.1 billion to £7.7 billion between 2023 and 2024. However, income from major arable crops declined by £1.2 million due to the third-worst harvest on record in 2024, which was affected by wet weather and ongoing declines in cereal and oilseed prices following their 2022 peaks. Farmers face the risk of another poor harvest year due to record-high spring temperatures and the driest conditions in decades.
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The May 2025 UK-US trade agreement introduces significant changes affecting British agriculture. Notably, it removes a 19% tariff on 1.4 billion litres of US ethanol, potentially undermining the UK's bioethanol industry and threatening hundreds of jobs in northeast England and Yorkshire. This move may disrupt local markets for non-bread-quality wheat, forcing farmers to seek less profitable export options. Additionally, the deal allows 13,000 metric tonnes of US hormone-free beef into the UK tariff-free, raising concerns among British farmers about greater competition from US producers with lower costs and differing regulatory standards. While the agreement aims to bolster trade, these provisions could challenge the sustainability and competitiveness of the UK farming sectors.
Mining
- The Office for National Statistics reports that the mining and quarrying sector output climbed by 3.6% in April 2025. However, output from the sector dipped by 1.3% in the three months to April 2025.
- World Bank Commodities Price Data released in July 2025 shows that Brent crude oil and WTI crude oil prices climbed month-on-month in June 2025 amid escalating tensions in the Middle East. Meanwhile, in June 2025, most metals and minerals (aluminium, copper, lead, tin and zinc) posted a climb, while others (iron ore and nickel) dropped slightly. Precious metals have continued to climb month-on-month, particularly gold, amid heightened global economic uncertainty, escalating geopolitical conflict tensions and US tariff concerns.
- The UK’s offshore energy industry association, Offshore Energies UK, has called for the government to remove the oil and gas windfall tax and replace it with a long-term mechanism, which could boost investment and strengthen the UK’s energy sector. The association states that recent ONS data shows profit for those investing in the oil and gas sector has turned negative.
- Published in June 2025, a study by Robert Gordon University titled ‘Striking the Balance: Building a Sustainable UK Offshore Energy Workforce’ states that the oil and gas workforce declined by about 5,000 jobs between 2023 and 2024, from 120,000 to 115,000 and if the current trend continues, this figure could plunge to between 57,000 and 71,000 by the early 2030s. Meanwhile, the workforce in the renewables segment will thrive and could climb from 39,000 to between 84,000 and 153,000 by 2035.
- At the start of June 2025, Unite the Union warned that the Scottish oil and gas industry is facing hundreds of job losses at Grangemouth and Mossmorran.
- Metal investment company Cobalt Holdings has pulled out of its move to list on the London Stock Exchange, dealing a further blow to the weak London IPO market, as reported by the Financial Times.
- Equinor has signed a long-term gas sales agreement of 55 TWh of natural gas per year for a decade starting October 2025, with a contract value of around £20 billion (at current prices), in a bid to strengthen the UK’s energy security.
- In June 2025, Adura was announced as the name of Equinor and Shell’s incorporated joint venture. The venture formed the UK’s largest independent oil and gas producer in the North Sea, with both companies combining their UK offshore oil and gas assets and standout expertise to form the new company.
- The Financial Times reports that the government has called for an investigation into Prax Group, the owners of the Lindsey oil refinery since 2021, which filed for insolvency in June 2025, with hundreds of jobs at risk. The site, which employed around 400 people, processed 96,600 barrels of oil a day in 2024.
Manufacturing
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The Purchasing Managers’ Index (PMI) rose to 47.7 in June 2025, up from 46.4 the previous month, marking the slowest contraction since January. While output, new orders and employment continued to contract, the rate of decline lessened slightly as business optimism improved slightly. Companies still scaled back production due to weak market conditions, with clients balancing higher costs through reduced demand amid uncertainties over government policy, tariffs and geopolitical tensions. Average input costs climbed for the 18th consecutive month, driven by higher supplier prices, inflationary pressures, shipping disruptions and geopolitical tensions.
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On 23 June 2025, the government introduced the ‘UK Modern Industrial Strategy,’ a 10-year plan aimed at accelerating business investment in eight priority sectors, including advanced manufacturing and defence. Each sector will benefit from billions in funding, with £86 billion dedicated to boosting research and development to enhance the UK's innovation capacity. The Advanced Manufacturing sector is set to receive up to £4.3 billion, including £2.8 billion specifically for R&D programmes. This investment aims to strengthen the UK's position in areas like vehicle production, zero-emission flight technologies and autonomous driving solutions.
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As part of the Industrial Strategy, UK PM Keir Starmer announced a £2 billion investment over four years to 2029, aimed at reducing energy prices by up to 25% for thousands of businesses to stimulate growth. The new ‘British Industrial Competitiveness Scheme’ will lower electricity costs for over 7,000 energy-intensive businesses in sectors like automotive, aerospace and chemicals. Eligible businesses will be exempt from paying certain green levies, with the scheme set to take effect in 2027.
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The UK-US Economic Prosperity Deal, reduces tariffs on British manufacturing exports, notably lowering car tariffs from 27.5% to 10% for up to 100,000 vehicles annually and eliminating duties on steel and aluminium. However, while the agreement offers substantial benefits to key manufacturing sectors, it maintains a 10% baseline tariff on other UK exports, indicating that broader trade challenges persist.
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Following the UK-US Economic Prosperity Deal, the UK's only two bioethanol production plants, including the Vivergo Fuels site at Saltend, are at risk of closure due to the UK's agreement to eliminate tariffs on US ethanol imports. Trade associations caution that closing these plants could lead to CO2 shortages and send negative signals to investors regarding the development of the sustainable aviation fuel industry. The Associated British Foods trade association has urged the government to intervene with support packages for the industry to prevent these potential issues.
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Toyota has announced plans to ramp up car production in the UK in 2026 to enhance flexibility following the disruptions caused by US tariffs. The company intends to shift some production of its GR Corolla high-performance hatchback from Japan to its Burnaston plant in Derbyshire. This move will help Toyota maintain its manufacturing presence in the UK as the government prepares to unveil its new industrial strategy.
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Car manufacturers must meet a government mandate requiring 28% of sales to be electric vehicles (EVs) by the end of 2025, with a £15,000 fine per non-compliant car. In May 2025, electric car sales saw a 25.8% lift annually, with 32,738 new battery electric vehicles (BEVs) registered, representing a 21.8% market share, as reported by the Society of Motor Manufacturers and Traders.
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The British sports car maker Lotus had initially planned to cease production in the UK after more than 70 years, putting 1,300 jobs at risk. This decision followed struggles to pay suppliers, which temporarily halted production at the Hethel plant in Norfolk since mid-May. According to the Financial Times, the halt was part of an effort to manage inventories amid supply chain issues linked to US tariffs. However, on 28 June, Lotus reversed its decision to close production after the government indicated its willingness to offer support.
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The government hasn’t yet made a decision regarding the long-term future of British Steel. According to the Secretary of State for Business and Trade, the objective isn’t to nationalise British Steel, despite the Secretary having powers to issue directions or take control of steel operations in England at risk of closure. This authority allowed the government to assume control of British Steel’s operations temporarily. The removal of the 25% tariff on UK steel exports, following UK-US trade negotiations, has provided relief for British Steel’s production and helped safeguard jobs.
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Starting 1 July 2025, the UK government implemented new trade measures to support the steel sector. These measures are designed to provide stronger trade safeguards, protecting UK steel producers from surges in cheap imports. The changes will adjust the quotas on how much steel other countries can export to the UK, aiming to protect British jobs while ensuring a reliable steel supply for the UK market.
Utilities
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The energy price cap set by Ofgem dropped by 7% for the period from July to September 2025, reducing the annual cost to from £1,849 to £1,720 for a typical household. This reduction in gas and electricity bills will provide some financial relief for households, aligning with UK Prime Minister Keir Starmer’s initiative to address the high cost of living.
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Thames Water has faced a significant setback in its efforts to secure future stability after the US investment firm KKR withdrew from a deal to inject new equity into the company. This development leaves the company's debt-ridden future uncertain and increases the likelihood of temporary nationalisation. Despite Thames Water's financial troubles, the UK Environmental Secretary has firmly stated that the company won’t receive any leniency concerning fines for breaching environmental standards. Meanwhile, the company's creditors are urging for emergency legislation that would protect the business from certain legal obligations as a condition of their support.
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The struggling utility company, Southern Water, has secured a £1.2 billion bailout from its major owner, the Macquarie Group, as part of a recapitalisation effort. This move will reduce the company's debt owed to its holding company lenders by more than half. Ofwat has previously permitted water companies to significantly increase household bills, enabling them to invest billions of pounds in infrastructure over the next five years. Southern Water has already implemented a 53% increase in bills for its 4.7 million customers and is appealing to the Competition and Markets Authority for permission to charge even more.
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The UK's energy regulator, Ofgem, has provisionally approved £24 billion of investment in England's gas and electricity networks. This initiative aims to enhance energy security and facilitate the transmission of more clean energy from renewable sources. However, this move may raise already high household bills. The funding will support the completion of 80 major energy infrastructure projects by 2030.
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Centrica plc, one of the UK's largest energy groups, has secured a £20 billion agreement to purchase 5 billion cubic meters of gas annually from Norway's state-owned Equinor. This agreement will commence in October 2025 and continue until 2035, bolstering the UK's energy supply and price stability. Additionally, the contract includes a provision for transitioning from natural gas to hydrogen sales in the future, supporting the growth of the UK's hydrogen economy.
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EDF Energy announced an extension for four ageing UK nuclear power stations to enhance energy security. Hartlepool and Heysham 1, originally set to close in March 2026, will now operate until March 2027, while Heysham 2 and Torness, planned for closure in 2028, will remain open until 2030. These extensions aim to compensate for delays in the Hinkley Point C power plant, now expected to be operational in 2029, at the earliest.
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According to the Financial Times, Ministers are considering offering energy bill discounts to UK homeowners who install heat pumps. This initiative aims to encourage more household installations as part of the country's efforts to reduce carbon emissions.
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Thinktank Common Wealth has called for the government to nationalise Britain’s gas power stations to ensure energy security and prevent sky-high fees by private gas-fired stations.
Construction
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The latest S&P Global release reveals that the UK Construction PMI rose to 47.9 in May 2025, up from 46.6 in April, signalling the slowest decline in output levels since January. House building was the weakest performing segment in May due to ongoing weak demand conditions. Despite the sector's continued downturn, business confidence reached its highest level since December, suggesting some optimism for future projects. However, employment in the sector remained weak, with an acceleration in job losses. Although cost pressures stayed high, they eased compared to the peak in March.
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On 19 June, Chancellor Rachel Reeves announced a transformative 10-year, £725 billion infrastructure strategy as part of the government's Plan for Change. This ambitious initiative aims to propel economic growth and enhance public services. The strategy commits £9 billion annually to refurbishing health, education and justice facilities, ensuring safer hospitals, modernised schools and renovated courts. Additionally, it allocates funds for vital infrastructure projects, including £1 billion for maintaining key transport structures like bridges and £590 million to launch the Lower Thames Crossing project. Furthermore, a £16 billion public investment will facilitate the construction of over 500,000 new homes, addressing the nation's housing needs.
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The UK government has committed nearly £500 million towards transport and infrastructure enhancements to support Universal's new theme park in Bedford, planned by US media giant Comcast. This investment includes £270 million dedicated to rail network upgrades, which will feature a new station at Wixams and approximately £200 million earmarked for road improvements.
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According to a CoStar analysis, the amount of office space under construction in the UK dropped to approximately 23 million square feet in Q1 2025, marking its lowest level since early 2015. This decline is primarily attributed to ongoing economic uncertainty and persistently high costs, which have dampened investor confidence.
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The government faces the pressing challenge of meeting its ambitious target of constructing 1.5 million homes by 2029. This goal requires increasing annual planning permissions in England by over 50%. In response, the government has introduced a new Planning and Infrastructure Bill to expedite the construction of homes and essential infrastructure development. However, a recent study by City and Guilds highlights a significant obstacle: a chronic shortage of skilled workers. The research shows that 76% of construction businesses are struggling to recruit qualified labour, casting doubt on the feasibility of reaching the target.
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The Department for Education has introduced the Construction Framework 25 (CF25), a new initiative valued at up to £15.4 billion. This framework aims to support the construction and refurbishment of educational facilities across England. Beginning in January 2026 and lasting six years, CF25 will encompass new builds and renovation projects for schools, colleges and universities.
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NHS Scotland has extended its construction framework, Frameworks Scotland 3. Initially awarded in 2020 with a value of £650 million and set to conclude in November 2025, the framework will now continue until November 2027. This extension aims to address ongoing uncertainties in public capital funding and will support the delivery of future projects.
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As revealed by ONS data, monthly construction output is estimated to have grown by 0.9% in April 2025, marking the third consecutive period of positive growth, following an increase of 0.5% in March 2025. Total construction output expanded by 0.5% in the three months to April 2025, with new work increasing by 0.9% and repair and maintenance by 0.1%.
Wholesale Trade
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According to the Office for National Statistics, output in the wholesale trade, except of motor vehicles and motorcycles dropped by 3.2% in April 2025, the largest negative contributor to the services sector over the month.
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According to the Fresho UK Fruit and Veg Report 2025 by the wholesale order management platform, the “UK’s fruit and veg wholesale industry has remained resilient over the past three years, despite ongoing rising business costs”. It reveals that the average number of lines per order has dropped consistently from 10.31 lines in 2021 to 9.69 lines in 2024, suggesting customers are streamlining purchases amid cost pressures. Fresho also highlighted an emerging trend of climbing orders containing prepared items (rising by 29.9% in 2024) as customers grapple with labour shortages and rising wages.
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Leading Scottish wholesaler United Wholesale Scotland has expanded by acquiring London-based Time Wholesale Services, making it its first cash and carry in England and fourth overall.
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The Grocer reports that wholesale platform Platter, which is a B2B platform allowing suppliers to manage buyers and oversee the product journey, has raised £350,000 in a pre-seed funding round.
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Sandea Wholesale, a company founded in 2019 that specialises in FMCG and part of Sugro UK, has announced the acquisition of Swastik International (UK), strengthening its FMCG portfolio and boosting its logistical capabilities.
Retail Trade
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Consumers are pumping the brakes on discretionary purchases. In May, UK retail growth slowed to its weakest so far in 2025. Total sales rose just 1% year on year, buoyed mainly by food (+3.6%), while non‑food dropped 1.1%. In-store non‑food fell 0.9%, online slumped 1.5% and overall online’s share stayed flat at 35.9%, the BRC, KPMG and IGD report. Retailers are under pressure, facing an extra £5 billion hit from rising National Insurance and labour costs, with a further £2 billion expected from upcoming packaging taxes. Companies are navigating this by reducing in-store non-food markdowns and cutting promotions in some areas, while banking on upbeat trends in food and drink, travel-related goods and gaming to stabilise revenue.
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In June 2025, the BRC reported a shift in the UK retail environment, marking the end of a period of shop price deflation. The latest figures indicate a return of price inflation, with prices rising by 0.4% year-on-year, following a 0.1% decline in May. This change has been primarily driven by food prices, which saw a significant hike of 3.7% year-on-year in June compared to a 2.8% rise in the previous month. Meanwhile, non-food prices experienced a less pronounced deflation, decreasing by 1.2% year-on-year in June versus a 1.5% decline in May. The BRC, attributes the resurgence of inflation to heightened costs faced by retailers. These financial pressures stem primarily from significant rises in employer National Insurance contributions and the National Living Wage, which together represent an estimated £5 billion impact. Additionally, retailers are contending with an impending £2 billion packaging tax. As a result, shoppers might need to prepare for higher prices in their summer purchases.
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Asos has launched a new loyalty programme called ‘Asos World’ for UK shoppers, following a successful initial trial earlier in 2025. This programme, designed to encourage increased spending, is now widely available and features four distinct tiers. The entry-level tier, called ‘Stylist,’ is free to join. The next level, ‘Curator,’ requires an annual spend of £100. The ‘Icon’ tier is unlocked with a yearly spend of £350 and the top tier, ‘A-List Member,’ demands a £750 annual expenditure. Members of the programme also enjoy a variety of exclusive benefits and experiences, including early access to collections, priority notifications for back-in-stock items, early access to sales and invitations to exclusive events.
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Budget and high street retailers aren’t the only ones using promotions and loyalty schemes to attract customers. Fortnum & Mason has launched its first annual membership programme, “Friends of Fortnum’s”, priced at £100. Members receive curated gifts, complimentary next-day UK delivery and priority access to exclusive events. This move signals a shift in luxury retail towards paid loyalty schemes that prioritise experience over discounts. It reflects a broader trend in the sector, with retailers seeking to build emotional connections, drive repeat spend and offset rising operational costs. The initiative also raises customer expectations for speed, service and exclusivity, prompting other premium and mainstream retailers to reassess their own loyalty and fulfilment strategies.
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On 12 June 2025, the struggling budget retailer Poundland was sold to the US investment firm Gordon Brothers for £1. Following the sale, the owner, Pepco, announced that a proposed restructuring plan would be submitted to the High Court in England. This move comes as the company faces mounting pressure from increased employer National Insurance contributions. As part of the restructuring, Poundland plans to close up to 150 stores and two distribution centres, putting hundreds of jobs at risk.
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Oxford Street is back in business. Vacancy rates have plummeted to just 0.5% - the lowest since pre-pandemic days, Savills reports - thanks to a surge of international retailers and big-name openings like IKEA and Nike’s RunTown pop-up. With £118 million poured into store revamps, prime rents are climbing, up 3.3% last quarter alone. This revival signals renewed confidence in UK retail, especially for flagship locations. But with limited space and rising rents, smaller brands may struggle to keep up.
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President Trump has delayed a hefty 50% tariff on EU goods until 9 July 2025, following a cordial chat with European Commission President Ursula von der Leyen. While this buys time for negotiations, UK retailers remain on edge. Brands like Nike and Shein are already upping prices, anticipating increased costs. For UK retailers, this means potential price rises and supply disruptions, especially for those sourcing from or selling to the US. With the clock ticking, the sector braces for possible turbulence ahead.
Transportation & Warehousing
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Transport for London has put forward a proposal to increase the congestion charge by 20%, raising it from the current £15 per day to £18 per day, effective from 2 January 2026. This proposal is currently open for public consultation. TfL also plans to remove the 90% discount currently available to residents living within the congestion charge zone, unless they own a pure electric vehicle. These measures are expected to generate an additional £30 million in revenue for TfL in 2026, helping to restore its financial stability.
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The Air Passenger Duty to go up in 2026-27, by £2 for short-haul economy flights and £12 for long-haul ones, while rates for private jets are set to go up by 50%.
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Chancellor Rachel Reeves has announced a significant investment in transport infrastructure, focusing on the Midlands, the North and the West Country, in anticipation of the government's upcoming spending review. This ambitious plan includes a £2.5 billion investment to expand Greater Manchester's tram network, extending it to Stockport and adding new stops in Bury, Manchester and Oldham. The West Midlands will receive £2.4 billion to enhance tram services, extending them from Birmingham city centre to the newly developed sports quarters. Additionally, £2.1 billion will be allocated to initiate construction of the West Yorkshire Mass Transit programme, aimed to begin by 2028.
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The June Spending Review 2025 outlines a significant investment of £15.6 billion in Transport for City Regions (TCR) settlements, offering long-term funding for major city regions across England. This funding, to be allocated by 2031-32, is intended to support local transport priorities such as zero-emission buses, trams and local rail systems. Additionally, the review confirms an allocation of £10.2 billion for rail enhancements, which includes key upgrades to the Transpennine Route and East West Rail.
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In June 2025, Transport Secretary Heidi Alexander announced that HS2 is facing new cost overruns and significant delays. She attributed these issues to mismanagement by the previous Conservative government, which included signing contracts against advice and spending £2 billion on a project leg that was later cancelled. The latest completion estimate was set for 2033, but this is now expected to be pushed back to the mid or late 2030s.
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The government has announced plans to simplify the installation process for EV charging points by eliminating the need for drivers to submit planning applications. This change is expected to save EV drivers up to £1,100 annually and reduce barriers to increasing the number of EVs on UK roads.
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Heathrow Airport’s CEO, Thomas Woldbye, has announced the airport’s largest private investment programme to date, which includes the development of a third runway, with plans to be submitted to the government by Summer 2025. The investment aims to enhance existing infrastructure and support the construction of the new runway, ultimately boosting the UK economy. Airport officials are confident that by upgrading current facilities, they can accommodate up to 100 million passengers annually.
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The government has approved the expansion project for London Luton Airport, but the decision regarding Gatwick Airport's second runway is still pending. Although the Transport Secretary has indicated a ‘minded to approve’ stance, further engagement with Gatwick is required to address specific concerns. These include setting stronger targets for public transport access and expediting the implementation of a noise mitigation scheme. The final decision on Gatwick's second runway is anticipated by October 2025.
Macquarie Asset Management, Australia's largest infrastructure investor, has acquired stakes in three UK airports from the Ontario Teachers' Pension Plan. The acquisition includes a 25% stake in London City Airport, a 55% share in Bristol Airport and a 26.5% interest in Birmingham Airport.
On 10 June 2025, the government announced that self-driving cars, operated without a safety driver, could be available for public booking through an app starting in Spring 2026 as part of new trials. This initiative is expected to attract significant investment to the UK, potentially creating 38,000 jobs and contributing £42 billion to the UK economy by 2035.
Accommodation & Food Services
- ONS data reports that output in accommodation and food service activities climbed by 0.01 percentage points in April 2025. Accommodation activities output contracted by 1.4% in the three months to April 2025, the largest negative contribution to consumer-facing services output over the period.
- According to the latest estimates of UK inbound visits and spend by VisitBritain released in June 2025, there were 39.2 million inbound visits to Great Britain in 2024, just 4% below pre-COVID levels but up 3% from 2023. Spending reached £31 billion in 2024, but is still below 2019 and 2023 levels (when adjusted for inflation).
- A May 2025 survey by hospitality associations, including UKHospitality, The British Institute of Innkeeping, the British Beer & Pub Association and Hospitality Ulster, has found that about a third of hospitality venues were operating at a loss amid the tax hikes (minimum wage and NICs) from April. The survey found that about 60% have been forced to cut jobs, while 63% lowered staffing hours to reduce costs. Further, over half of the members surveyed cancelled investment and 76% were forced to hike prices.
- As part of the government’s Plan for Change, the Department for Energy Security and Net Zero is trialling an initiative to provide over 600 SMEs in the hospitality sector with free energy and carbon reduction assessments, saving the hospitality sector £3 million on bills.
- US fried chicken chain Popeyes, which has over 80 UK restaurants, has secured a £43 million loan from Barclays Corporate Banking to accelerate its expansion and open 45 more stores across the UK this year.
- Spanish-based Libere Hospitality Group has entered the UK market by opening a site in Paddington, London. The hospitality group has a strategy of expanding into high-demand UK and European cities.
- According to data from the RSM Hotels Tracker, hotels are increasingly investing in IT and advanced technology, including AI, to boost efficiency amid soaring operating costs, namely labour expenses. In May 2025, IT systems investment expanded by 27% in London and 21% in the UK compared to three years ago. The data also shows hotel occupancy rate in London stood at 82.2% in May 2025, slightly down from 82.5% in the same month in 2024, while the occupancy rate for the UK was 79.4%, down from 79.8% in the prior year.
- Under the Spending Review, the government has announced plans to end the use of asylum hotels by 2029, resulting in savings of £1 billion annually. Instead, the government will aim to cut small boat crossings and build new state-owned accommodation to house asylum seekers.
Information
- ONS data reports that output in the information and communication subsector dipped by 1.4% in April 2025. This was mainly driven by a 2.2% contraction in output in the computer programming, consultancy and related activities industry and a drop of 6.9% in the motion picture, video and TV programme production, sound recording and music publishing industry. The sector recorded a 2.4% rise in output in the three months to April 2025, the second-largest positive contributor to the services sector in that period.
- BT-owned Openreach is warning to block TalkTalk from putting new customers on its broadband network, with the latter missing “several monthly payment deadlines” to its biggest supplier amid cash flow issues, as reported by the Financial Times.
- BT’s chief executive, Allison Kirkby, claims that AI advancements may result in the UK telecoms group becoming even smaller than the initial plans which include cutting over 40,000 jobs and £3 billion of costs by 2030.
- Mobile operator Three has launched the UK’s first urban Open RAN network in Glasgow, with 5G speeds topping 520 Mbps, reports telecoms.com.
- Nvidia’s chief, Jensen Huang, has stated that the UK lacks its own established digital infrastructure, despite Prime Minister Keir Starmer committing another £1 billion for AI.
- Following strict new digital laws in the UK, the Competition and Markets Authority (CMA) threatens Google’s search authority by proposing to loosen the Big Tech giant’s control of its search engine, as revealed by the Financial Times. The CMA argues that the market could be made more competitive and innovative, with Google’s dominance making the cost of search advertising higher than what it could be if the market were more open and competitive.
- The UK government has committed to investing over £500 million in its quantum computing capabilities over the next four years and a total of £670 million over the next decade, which could boost economic and national security. This replaces the previous government’s pledge in 2023 to invest £2.5 billion over a decade in quantum technology.
Finance & Insurance
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The UK 100% mortgage is back, for renters with a proven history of paying on time. Two years ago, Skipton Building Society launched a 100% deal, called Track Record, aimed at people who are now renting, or were until very recently. Applicants must show proof of having paid rent for at least 12 months in a row on a UK property (with no arrears) in the last 18 months and haven’t owned a UK property in the last three years. The maximum amount that can be borrowed is 4.49 times the applicant’s annual income (for single and joint applicants), rising to 4.75 times if that income is more than £50,000.
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UK insurance distribution M&A activity slowed markedly in May, with just seven transactions announced, leaving 2025 deal volumes 30% below the same period in 2024 at 42 YTD, MarshBerry reports. While April’s brief uptick – driven by the tax-year end and changes to Business Asset Disposal Relief – failed to continue, smaller deals dominate: 69% involve targets valued under £5 million, compared to a long-term average of 59%. Supply constraints, rather than waning demand, are cited as the primary cause, with fewer privately owned brokers available and limited new-entrant scale-up. Despite this, large transactions persist, in May the fourth deal above £100 million, including JMG Group’s investment from GTCR and Synova, occurred and private equity continued to lead in deal value, even as its share of deal count fell to its lowest since before 2016.
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On 19 May 2025, HM Treasury published its response to the Buy-Now, Pay-Later consultation and launched Phase 1 of its Consumer Credit Act reform consultation. The government will bring third-party BNPL lenders into the regulated activity of credit broking while largely exempting merchants, with draft legislation due before Parliament and new rules expected mid-2026. Consumers stand to gain stronger, more consistent protections as BNPL providers will need to adhere to regulated credit-broking rules, aligning their transparency, affordability checks and redress mechanisms with traditional lenders. The repeal of “small agreements” exemptions means that even lower-value credit products must meet FCA standards, reducing the risk of unfair terms and promoting clearer disclosures. For credit-card issuers, the reforms level the competitive playing field by closing regulatory gaps that favoured unregulated BNPL schemes, but they also bring new compliance costs and reporting requirements. Issuers may face pressure to enhance their own digital instalment offerings and reassess pricing and product design to retain market share.
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UK mortgage rates are rising again. The average two-year fixed mortgage rate now stands at 4.90%, with five-year deals averaging 5.24%. This uptick follows an unexpected inflation increase to 3.5% in April, leading lenders like Halifax, Nationwide, NatWest and Santander to raise rates, particularly affecting borrowers with substantial equity. Approximately 500,000 homeowners with five-year fixed-rate mortgages from 2020 face significant payment hikes as their deals expire, potentially increasing monthly payments by £510 if they revert to standard variable rates averaging 7.13%. This scenario may lead to higher default risks, impacting insurers and financial institutions managing mortgage-backed assets.
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Revolut is developing a rewards-based credit card for UK customers, building upon its existing RevPoints loyalty programme. The planned credit card will be tailored to Revolut's various subscription tiers, allowing users to earn points on spending, which can be redeemed for travel perks, gift cards and airline miles. This move positions Revolut to compete with established companies like American Express in the UK's rewards credit card market. For the UK's insurance and finance sector, Revolut's entry could intensify competition, prompting traditional banks and insurers to reassess their credit card offerings and loyalty schemes. Additionally, as Revolut expands its financial services, including plans for mortgages and private banking, it may influence consumer expectations and drive innovation across the sector.
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Despite the end of the stamp duty holiday, UK mortgage approvals in May 2025 climbed unexpectedly for the first time in 2025. The Bank of England stated that net mortgage approvals for house purchases increased by 2,400 to 63,000, marking the first rise since December 2024. Remortgaging approvals also climbed. The data points to a more optimistic housing market despite elevated costs for property buyers following the end of the stamp duty holiday.
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Spanish bank Santander has agreed a £2.65 billion deal to acquire British high street lender TSB, beating rival Barclays. The move will help boost the Spanish bank’s UK market presence following recent periods of uncertainty and thousands of job cuts.
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Highlighting the bleak UK economy prospects and unattractiveness for foreign investors, the Department for Business and Trade revealed that foreign direct investment projects in the UK in 2024-25 numbered 1,375. This number is 12% below the 2023-24 level and also the lowest level since records began in 2007-08.
Real Estate and Rental and Leasing
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According to Nationwide, annual house price growth increased by 2.1% in June 2025 compared with June 2024. Prices dipped by 0.8% month on month and the average house price stood at £271,619. This drop, the largest since January 2023, could be down to the increase in stamp duty that kicked in at the start of April. Despite the slowdown and prolonged economic uncertainty, Nationwide reports that underlying conditions for potential home buyers in the UK remain supportive, with unemployment remaining low and earnings rising.
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According to Zoopla, improved mortgage affordability and high supply mean the UK housing market is recording its most active May since the pandemic boom in 2021. However, despite strong buyer interest, sellers are forced to settle for lower prices, with the average home being sold for £16,000 below the asking price.
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Halifax reports that house prices contracted by 0.4% in May 2025 following the changes to the stamp duty and due to prolonged economic uncertainty, though buyer confidence remains supported by lower mortgage rates and steady wage growth.
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Property firm LonRes reports a 35.8% contraction in high-end property transaction numbers in May compared with the prior year and 33.5% below pre-pandemic levels. This drop off is mainly due to new non-dom rules that have resulted in an exodus of wealthy individuals from the UK and cooled the number of deals in prime housing.
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One of the largest London landlords, British Land, reveals there has been growing demand for second-hand offices in prime locations due to a shortage of new properties being constructed, more people returning to the office and sky-high rents. According to CoStar and reported by the Financial Times, the amount of office space under construction in the UK has dropped to its lowest level in a decade (to 23 million square feet in Q1 2025) due to prolonged economic uncertainty and high costs hurting builder confidence.
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According to CBRE data from June 2025, capital values for UK commercial real estate hiked and rental values both climbed by 0.3% in May 2025, with total returns at 0.7%. The industrial sector recorded the highest month-on-month returns for May, at 0.8%, while office and retail total returns were both at 0.6%.
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Japanese firm Daibiru has acquired a prime City of London office for £169 million from Barings, marking its entry into the UK property market.
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The Financial Times reports that many financial firms in London, including Deutsche Bank, USB and Stockbroker Panmure Liberum, are reversing pandemic working mandates and ordering staff back to offices. This move is bumping up demand for office space. Brightmine data reveals that 15.1% of UK companies have raised the number of mandatory office days since introducing hybrid working.
Professional, Scientific & Technical Services
- ONS data reports that output in professional, scientific and technical services dropped by 2.4% in April 2025, the largest negative contribution in the services sector. This followed a 0.5% hike in the prior month. The contraction in output in April was mainly driven by legal activities (down 10.2%) and advertising and market research (3.4%), while scientific research and development climbed by 6.7%.
- PKF Littlejohn has overtaken BDO in the latest AIM Advisers Rankings Guide for the first time since 2017, with 85 AIM-listed clients against BDO’s 84 clients.
- KPMG’s report from the end of 2024 titled The move to mandatory reporting has found that 95% of the world’s biggest corporations are now publishing carbon targets, up from 80% in 2022.
- The Financial Reporting Council (FRC) has fined KPMG £1.25 million over audit breaches in its 2021 audit of Carr’s Group.
- An audit monitoring report by ICAEW has found that 10% of reviewed audits were in need of significant improvement, a steady rate from the previous year. In 2024, 67% of audits reviewed were rated good or generally acceptable, a decline from 71% in 2023.
- In May 2025, The Times reported that accounting firm Xeinadin could be subject to a private equity sale of over £800 million. The firm has been on a rapid expansion spree in recent years, thanks to private equity backing.
- The FRC has raised concerns that the Big Four audit firms in the UK, alongside challengers like BDO and Forvis Mazars, have introduced AI and automated tools into their workflows without formally assessing the effects on audit quality, as reported by AccountancyAge.
- The Legal Aid Agency (LAA), which oversees billions of pounds of legal funding and has access to sensitive client information, suffered a cyber security incident in May 2025, with hacked data potentially including contact details and addresses, personal and financial information dating back to 2010. This led to the LAA suspending its online service.
- Increased use of AI systems by lawyers has prompted the High Court to warn professionals to take action to prevent the use of AI following fake case-law citations, reported by The Guardian.
- The Financial Times reports that, following heavy industry lobbying by the Committees of Advertising Practice and the Advertising Standards Authority, the UK government is delaying the implementation of the junk food advertising ban to change guidance to allow pure brand marketing. The ban is aimed at unhealthy food advertising before 9pm in an effort to tackle child obesity.
Education
- In the June 2025 Spending Review, the government revealed a funding boost for schools, promising an increase of £4.7 billion by 2028-29. This funding includes resources already allocated for the recent teacher pay raise, which grants a 4% salary hike to all teachers and school leaders, effective from September 2025. The School Rebuilding Programme will continue its momentum, with an annual investment of £2.4 billion over the next four years, dedicated to reconstructing over 500 schools throughout England. Notably, for the first time, funding for school building maintenance will be adjusted annually for inflation, aiming to reach approximately £2.3 billion by 2029-30. This increase is part of an effort to enhance and maintain the condition of school facilities.
- The new HESA university spin‑out register – a company created to commercialise research and IP – reveals a decline in UK spin‑out formation, with just 160 companies established during 2023-24, down from 201 at the pandemic‑era peak in 2020-21. A report by the University of Cambridge’s Commercialisation and Innovation (UCI) Policy Evidence Unit finds early‑stage venture capital investment has fallen back to pre‑COVID levels, despite spin‑outs raising over £2.8 billion – about 17% of all VC funding in the UK. The research highlights that spin‑out activity is still highly concentrated, with 20 universities accounting for over 70%, while the top six generate nearly 40%, but notes an encouraging shift as more research‑intensive institutions outside the “Golden Triangle” play a growing role.
- The UK government’s plans to withdraw public funding for Level 7 apprenticeships for individuals aged 22 and over will impact employers and training providers and make it harder for people to enter certain professions, experts have said. The change is part of a broader reform package aimed at “rebalancing” the apprenticeship budget towards lower-level training in an attempt to get more young apprentices studying. Level 7 apprenticeships are equivalent to a master’s degree, representing the highest level of apprenticeship currently available. The funding cut is expected to have a significant impact on sectors that rely heavily on Level 7 apprenticeships, like the NHS, education and local government. The exemption for those aged 21 and under will leave so few students on these courses eligible for funding that many will become unviable at a time when Skills England’s forecasts show we need more high-level skills in the economy. We recognise the tough fiscal choices the government faces, but supporting early careers need not come at the expense of upskilling and retraining the existing workforce.
- The UK government is investing £9.5 million to expand the PINS (Partnership for Inclusion of Neurodiversity in Schools) programme to 1,200 additional mainstream primary schools, supporting around 300,000 neurodivergent pupils. The initiative aims to improve training for teachers, boost parental engagement and create more inclusive learning environments. Early results show improved attendance, behaviour and pupil wellbeing. This move signals a shift towards early intervention and greater inclusivity in mainstream education. However, proposed changes to limit access to Education, Health and Care Plans (EHCPs) have raised concerns that some children could lose essential legal support. While PINS is a positive step, it may not fully replace the tailored provisions EHCPs currently guarantee. The expansion could ease pressure on specialist schools, but its success depends on effective delivery and ongoing support for both staff and pupils.
- The government has introduced a new pilot programme to test assistive technology for children with special educational needs and disabilities (SEND) in up to 4,000 schools. Supported by a budget of up to £1.7 million, this initiative will establish ‘lending libraries’ in 32 local authorities, enabling schools within these areas to borrow and trial a variety of devices tailored to their pupils' needs. The available tools include reading pens that can scan text and read it aloud, dictation tools that convert spoken words into text and tablets designed to help non-verbal pupils communicate through images. This programme aims to provide enhanced support for students with diverse needs, including those with dyslexia, autism and ADHD.
- New data from the Office for Students (OfS) reveals a notable rise in the number of approved events and external speakers at universities and colleges, rising from 29,475 in the 2022-23 academic year to 42,440 in 2023-24. This growth is advantageous for students as it promotes the exchange of fresh ideas and encourages robust, productive debate. However, the number of events that faced imposed conditions or required mitigation also rose from 1,285 to 1,410 during the same period, indicating a growing number of barriers to participation.
- A recent survey by the Child Poverty Action Group reveals that 16% of UK secondary pupils have missed school due to a lack of essentials like uniforms, meals, or transport. Among students eligible for free school meals, this figure rises to over 25%. Nearly half of those absent cited not having the correct uniform or kit, while others pointed to unaffordable meals and trips. This underscores the financial barriers many families face, affecting children's access to education. The charity urges the government to expand free school meal eligibility and eliminate the two-child benefit cap to alleviate these challenges.
- The UK government has issued funding guidance to the Office for Students (OfS) for the 2025-26 academic year, allocating £1.348 billion - a £108 million reduction from the previous year. An additional £84 million in capital funding is designated to support growth in priority subjects. The funding prioritises high-cost disciplines like nursing and midwifery, initiatives promoting equality of opportunity and support for world-class specialist providers. However, the guidance also indicates a shift in funding priorities, with reduced support for subjects like journalism, media studies and publishing. Franchised providers will no longer receive student premium funding, potentially impacting access for students in these programmes. These changes come amid financial challenges for universities, including declining international student numbers and rising operational costs. Sector leaders express concern that the funding cuts may exacerbate existing pressures, affecting the sustainability and diversity of higher education offerings in the UK.
- The UK higher education sector is confronting significant financial challenges, the Office for Students (OfS) warns. Nearly half of England’s universities (45.2%) anticipate deficits for 2024-25, up from 29.6% the previous year. This downturn is driven by a 15.5% drop in international student numbers, frozen domestic tuition fees since 2017 and rising operational costs. Consequently, institutions are implementing cost-cutting measures, including staff reductions and course closures, with an estimated 10,000 job losses across the sector. The government plans to raise tuition fees from £9,250 to £9,535 in September 2025, but this is viewed as insufficient to address the sector's £1.6 billion deficit. The Office for Students warns that without substantial reforms and increased funding, the financial sustainability of many universities remains at risk. More mergers between universities could be on the cards as a result of growing financial pressures, Vivienne Stern, chief executive of Universities UK (UUK), suggests.
- The UK government's 2025 immigration white paper outlines major reforms affecting universities. Key changes include cutting the post-study work visa from two years to 18 months, reducing opportunities for international graduates to gain UK work experience and potentially making the UK less attractive to them. A proposed levy on international student fee income is intended to fund the UK’s education and skills sector, but may strain university finances, particularly for institutions heavily dependent on overseas tuition. Additionally, stricter compliance rules for sponsoring international students (like tighter visa refusal rates and course completion benchmarks) could increase administrative burdens and risk for universities.
Healthcare & Social Assistance
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NHS England has announced an Urgent and Emergency Care Plan, promising to make effective use of a 3.9% increase from the government for adult social care. Key issues will be tackled in the plan, including improving hospital discharge processes. To facilitate this, the government, as outlined in the 2025-26 Better Care Fund policy framework, has confirmed a 3.9% increase in the NHS minimum contribution to adult social care.
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In the government's June 2025 Spending Review, it was announced that the Department for Health and Social Care (DHSC) will see its total budget increase by 2.8% per year in real terms between 2025-26 and 2028-29. Although this growth rate is below the long-term historical average of 3.7%, it marks continued investment in health services. The government has committed up to £10 billion for NHS technology and digital transformation by 2028-29, representing an almost 50% uplift from 2025-26. This significant investment will support the enhancement of digital services, including the development of a single patient record, further expansion of the NHS app and the ongoing implementation of the Federated Data Platform. The review also includes funding for 700,000 additional urgent NHS dental appointments per year. Moreover, there is a pledge to expand mental health support teams to all schools across England by 2029-30. To support this initiative, 8,500 additional mental health staff will be employed by the end of the parliamentary term.
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On 3 July 2025, PM Keir Starmer unveiled a transformative initiative titled ‘Fit for the Future: 10-Year Health Plan for England.’ A key component of this plan is the introduction of a new Neighbourhood Health Service, designed to bring healthcare closer to home for millions of patients. The Neighbourhood Health Service will comprise multidisciplinary teams, including doctors, nurses, pharmacists, social care workers and community health professionals. These new health centres will operate 12 hours a day, six days a week and offer a wide range of services, from diagnostics and rehabilitation to mental health support, smoking cessation programme and even employment assistance. The plan emphasises the use of AI and digital tools to streamline administrative tasks and improve healthcare access. Additionally, there will be a strong focus on shifting from treatment to prevention, addressing the root causes of ill health through early intervention efforts.
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On 6 June 2025, the government announced a nearly £450 million investment to expand urgent and emergency care facilities to provide faster care for patients, aiming for 800,000 fewer patients each year to wait more than four hours at A&E and more patients will receive urgent treatment in their community. The funding comes as part of the government’s Plan for Change to modernise NHS services and improve emergency care. The funding is expected to deliver around 40 new same day emergency care and urgent treatment centres – which treat and discharge patients in the same day, avoiding unnecessary admissions to hospital; up to 15 mental health crisis assessment centres to provide care in the right place for patients and avoid them waiting in A&E for hours for care, which isn’t the most appropriate setting for people who are experiencing a crisis. These centres will offer people timely access to specialist support and ensure they are directed to the right care and almost 500 new ambulances will also be rolled out across the country by March 2026.
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NHS waiting lists in England rose to 7.42 million in March, up by nearly 19,000 from February – the first increase in seven months. This setback challenges government claims that backlogs are improving. While waits of over 52 weeks dropped slightly, overall progress appears fragile. The data arrives as the government works on a draft 10-year NHS plan, expected in spring, though critics say it lacks impactful policies. Labour has pledged major improvements, including treating 92% of patients within 18 weeks by the end of this parliament – an NHS standard last met in 2015. The healthcare sector faces mounting pressure to deliver on these goals. Without significant investment and clear reform, ambitions may fall short, leaving patients stuck in long queues and the NHS under continued strain.
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NHS social workers in England will receive a 3.6% pay rise for 2025-26, aligning with current inflation rates. Health Secretary Wes Streeting asserts this will translate to a real-terms increase over the year, based on projected inflation trends. The raise, recommended by the NHS Pay Review Body, surpasses the government's initial 2.8% budget allocation. To accommodate this, the Department of Health and Social Care plans to implement efficiencies, like reducing staff at NHS England and cutting corporate services, ensuring frontline services remain unaffected. This adjustment applies to NHS staff under Agenda for Change contracts, including approximately 4,300 social workers. In contrast, local authority social workers have been offered a 3.2% increase, leading unions – UNISON, GMB and Unite – to advise members to reject the proposal. The disparity in pay rises between NHS and council-employed social workers may exacerbate recruitment and retention challenges within local authorities, potentially impacting service delivery across the UK's social care sector.
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Announced in May 2025, King’s College London has developed a groundbreaking AI model trained on de-identified NHS data from 57 million patients to predict future healthcare needs. By analysing patterns in electronic health records, the AI forecasts potential disorders, symptoms, medications and procedures. This innovation enables earlier interventions, more personalised care and improved resource planning within the NHS. It also aids in identifying at-risk individuals, enhancing clinical decision-making and streamlining patient recruitment for clinical trials.
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As of April 2025, the minimum salary threshold for skilled workers, including Health and Care Visa holders, has increased to £25,000 per annum. This change renders many entry-level Band 3 roles ineligible for international sponsorship unless future pay awards exceed this threshold. Additionally, care providers must now demonstrate efforts to recruit domestically before hiring overseas workers. The cost of Certificates of Sponsorship has risen to £525 and care workers are no longer permitted to bring dependents under new visa applications. These measures have led to a notable decline in international applicants, exacerbating existing staffing shortages in health and social care. The Cavendish Coalition warns that these policies could hinder service delivery and patient care unless addressed through comprehensive workforce planning and investment.
Arts, Entertainment & Recreation
- New analysis by UKactive and Swim England warns of a growing crisis as 76% of publicly accessible water space lost in the past 15 years has disappeared since 2020, driven by financial pressures, ageing facilities and rising operational costs. The organisations urge the Government to place swimming pools and leisure centres at the heart of the Comprehensive Spending Review, offering a comprehensive strategy and funding to support renewal, bolster public health and reduce the estimated £150 billion cost of ill health to the economy. With 30% of Year 7 pupils unable to swim 25 metres, investment is crucial to address widening health inequalities and preserve vital community assets.
- In May 2025, the UK and India signed a new cultural cooperation agreement aimed at boosting collaboration across the arts, entertainment and recreation sectors. The deal focuses on joint initiatives in film, fashion, music and the arts, with both governments recognising the potential for these industries to drive economic growth and strengthen bilateral ties. UK Culture Secretary Lisa Nandy and India's Minister for Culture and Tourism, Gajendra Singh Shekhawat, highlighted the agreement's role in fostering people-to-people connections and international partnerships. For the UK's creative industries, this agreement opens avenues for increased collaboration, talent exchange and market expansion. It's expected to enhance the UK's global cultural presence and provide new opportunities for artists and organisations within the sector.
- The UK Gambling Commission has launched an enhanced Consumer Voice framework to deepen its understanding of gambling behaviours across Great Britain. This initiative enlists four specialist research companies to gather insights from diverse and often underrepresented groups, including those affected by gambling-related harms. For the UK's arts, entertainment and recreation sector, this development signals a shift towards more consumer-informed regulation. Companies in areas like betting, gaming and live events may need to adapt their practices to align with emerging consumer insights and regulatory expectations. This could lead to changes in marketing strategies, customer engagement and compliance measures, ultimately influencing how these sectors interact with their audiences.
- According to the Financial Times, the UK government is ready to splash out £500 million (£270 million on rail network upgrades and £200 million for road works) on transport and infrastructure improvements to secure the theme park in Bedford planned by US media giant Comcast.
- According to UK Music’s Hometown Glory report, music tourists spent a record £10 billion at UK music festivals in 2024, a significant 26% hike from the prior year. UK music concerts and festivals attracted 23.5 million music tourists in 2024, a 23% rise on the 19.2 million music tourists in 2023. Of the total number of music tourists, 21.9 million were from the UK (up 21% from 2023) and 1.6 million were travelling from overseas (up 62% from 2023).
- The Financial Times reports that secondary ticket platform StubHub International could end up leaving the UK market (it’s largest market) if the Labour government opts to impose a limit on ticket resale prices, with the government consulting on potentially limiting ticket resales to the original price or up to a maximum increase of 30% to help stop music and sports fans from being ripped off.
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