Britain’s heavy reliance on China for net zero technologies such as batteries could put as many as 90,000 manufacturing jobs at risk in the event of a major supply chain shock, according to a new report. Analysis by the Institute for Public Policy Research (IPPR) warns that a severe disruption to battery component supplies, lasting as little as a year, could cripple the UK’s automotive industry, sharply reducing electric vehicle production and threatening factory jobs...
A pair of former Dyson engineers have raised millions of pounds to bring a battery-powered electric boiler to market, positioning it as a lower-cost, lower-disruption alternative to heat pumps for millions of UK homes. Wiltshire-based Luthmore was founded in 2022 by Craig Wilkinson and Martin Gutkowski, both ex-Dyson engineers who previously worked together on projects including the vacuum maker’s abandoned electric car programme. Their ambition is to replace gas combi boilers in small and medium-sized...
The government is to roll out a new £1bn-a-year support scheme designed to give people on low incomes direct access to emergency cash when they face sudden financial shocks. The Crisis and Resilience Fund, which launches in April, will run for an initial three years and replace the temporary Household Support Fund that has been extended repeatedly since its introduction during the pandemic in 2021. Under the new scheme, individuals will be able to apply...
Sir Keir Starmer is preparing to back legislation that would ban under-16s from social media platforms, signalling a decisive shift in the government’s approach to online child protection. The Prime Minister, who had previously voiced doubts about adopting Australia-style age restrictions, has now dropped his opposition and confirmed that all options are being considered, including a mandatory ban for under-16s. Speaking on Thursday, Starmer said the government needed to “better protect children from social media”,...
The BBC is close to agreeing a landmark partnership with YouTube, signalling a significant strategic shift as the public broadcaster looks to reach younger audiences on the platforms they increasingly favour. Under the proposed arrangement, the BBC would create original, bespoke programmes designed specifically for YouTube, with the option for successful formats to later migrate to its own platforms, including BBC iPlayer and BBC Sounds. The move is intended to ensure the corporation remains relevant...
Soho House has secured fresh financing to complete its $1.8 billion take-private deal, stabilising a transaction that had been thrown into doubt just weeks ago. The London-based private members’ club group said it has now locked in alternative funding to replace a $200 million shortfall, clearing the way for a consortium led by MCR Hotels to complete the acquisition. In a regulatory filing, Soho House confirmed that Morse Ventures, owned by Tyler Morse, chief executive...
Rachel Reeves’s carefully constructed £22 billion fiscal buffer could be eroded by as much as £14 billion as a result of policy U-turns and a sharper-than-expected fall in net migration, raising fresh questions about the durability of the chancellor’s budget strategy. Markets initially welcomed Reeves’s November budget, which more than doubled the government’s fiscal headroom and was seen as a signal of discipline after months of concern over the public finances. However, less than two...
Doubts have emerged over whether the government’s flagship 2030 clean power target can be met on time, after the UK boss of RWE admitted that several newly awarded offshore wind projects are unlikely to be operational by the end of the decade. The German energy group was the biggest winner in the government’s latest offshore wind subsidy auction, securing five of the six contracts awarded. Ministers hailed the outcome as a major step towards delivering...
The UK economy returned to growth in November, expanding by 0.3 per cent after contracting in the month leading up to the autumn budget, according to figures from the Office for National Statistics. The increase in GDP exceeded economists’ expectations of a modest 0.1 per cent rise and suggests that economic activity proved more resilient than many sentiment surveys had indicated in the run-up to the budget on 26 November. Growth over the three months...
A new per-mile tax on electric vehicles could deter nearly half of prospective buyers from switching to an EV, according to new research from AutoTrader, raising concerns that government policy on electric car adoption is becoming increasingly contradictory. From 2028, drivers of electric vehicles will face a new charge of 3p per mile travelled, a move announced by Chancellor Rachel Reeves. AutoTrader’s chief executive, Nathan Coe, said the decision risked undermining years of efforts to...
