National Grid CEO says Heathrow had sufficient power despite shutdown
The chief executive of National Grid has claimed that Heathrow Airport had enough power from other substations despite Friday’s shutdown. Around 1,300 flights were affected after a fire knocked out…
Chancellor Rachel Reeves plans to cut £2bn in costs by axing 10,000 civil service jobs, as reported in Politics News. Reeves is confident that these cuts, focused on back office roles, will free up resources for front line services. The spring statement will reveal these spending cuts, ruling out tax rises. However, the FDA union urges honesty about the impact on public services. Reeves acknowledges that the cuts will not be pain-free but emphasizes the need to prioritize better public services. The Chancellor aims to reduce administrative budgets by 10% initially, saving £1.5bn annually by 2028-29, with a further 15% reduction the following year, saving £2.2bn annually. Taxes will not be raised in the upcoming spring statement, as Reeves maintains fiscal rules against borrowing for day-to-day spending. Civil service departments will receive guidance from the Chancellor of the Duchy of Lancaster to implement these changes. Chancellor Rachel Reeves announces plan to cut 10,000 civil service jobs and reduce costs by £2bn
The chancellor expressed confidence in cutting 10,000 civil service jobs to reduce the budget by more than £2bn, particularly focusing on back office roles to prioritize front-line services. Rachel Reeves…
STRIKR secures $50m funding for innovative boxing format
A new boxing format which promises to eliminate often-controversial human judging decisions is in talks to raise $50m from heavyweight investors amid a broader shake-up in the funding and marketing…
Are doubled taxes on second homes a ‘cash grab’ or not enough? | UK News
Rewrite Campaigners argue that the implementation of a new 100% council tax premium on second homes in England will have minimal impact on alleviating the housing crisis, with some even…
Heathrow shutdown: Closure could cost millions in economic losses
The closure of Heathrow Airport could cost millions of pounds, with travellers and goods grounded as Europe’s largest airport spent the vast majority of Friday without power. As well as…
WPP plans £75m sale of in-flight media service Spafax
WPP, the FTSE-100 marketing services group, is in talks to sell a provider of in-flight entertainment which counts some of the world’s leading airlines among its clients. Sky News has…
UK government borrowing and spending challenges prompt tax rise or spending cut pressure
Government spending and borrowing have defied expectations, leading to «perilous» public finances and increasing pressure on the chancellor to consider raising taxes or cutting spending. In the latest official figures,…
Bank of England cautious as inflationary concerns loom
The Bank’s decision to hold rates did not come as a surprise but the vote was more unified than expected. It suggests concerns about inflation are niggling away at policymakers,…