Rachel Reeves is considering diluting Labour’s proposed inheritance tax reforms for non-doms after a rise in wealthy individuals leaving the UK. More than 4,400 directors have resigned in the past year, with high-profile business figures relocating. The Treasury is reviewing policy details ahead of the 2026 rollout.

Sir James Dyson has criticised Labour’s tax and National Insurance increases, warning they could stifle innovation and deter investment. The measures, part of Chancellor Rachel Reeves’s 2025 Spending Review, have drawn mixed reactions from industry, with some sectors raising concern over rising costs amid broader economic uncertainty.

Rachel Reeves’ first spending review sets out Labour’s fiscal priorities, committing new funds to defence, the NHS and infrastructure projects like nuclear energy and housing. Despite limited headroom and rising borrowing, the review maintains capital investment while restricting departmental current spending, signalling tight fiscal control through 2029 without introducing new taxes.

Labour has cancelled a high-priced corporate conference due to weak demand from executives and lobbyists. The £5,000-per-head event faced criticism over costs and limited ministerial access. It follows broader business unease with Labour’s tax and regulatory plans and raises questions over the party’s approach to corporate engagement.

Reform UK has proposed raising the personal tax allowance to £20,000, a policy expected to cost up to £80 billion. The party plans to fund it by scrapping net-zero commitments and cutting public spending. Economists warn of fiscal risks, citing the absence of detailed costings or independent review.

Scotland’s ambition to achieve net zero emissions by 2045 entails an estimated annual investment of £750 million over the next 20 years. The Climate Change Committee warns that without immediate, large-scale action, including rapid adoption of electric vehicles and heat pumps, the nation risks missing its legally binding climate targets.

Britain and the European Union have agreed a major new post-Brexit settlement, extending fishing rights, easing trade barriers, and opening defence and youth mobility cooperation. The deal marks a strategic reset in UK–EU relations and includes measures on carbon, energy, and migration. Political reactions at home remain sharply divided.

Brexit has enabled UK trade independence and divergence from EU regulation, especially in AI and climate policy. While Trump’s tariffs prompt a policy rethink, Labour’s green agenda faces internal resistance. Taxpayer-funded NGOs, often pushing degrowth, face criticism. Rising energy costs highlight the need to prioritize economic growth over restrictive policies.

Can new laws make farming pay? If not, our countryside faces the biggest threat for centuries

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