Month: June 2024

Three is likely to miss its rural broadband coverage targets as the deadline to address mobile signal “not spots” looms.
Mobile network operators have until July to extend their coverage to encompass 88% of the UK’s landmass, the initial goal of a £1bn government initiative.
While Vodafone has confirmed it will meet the deadline and Virgin Media O2 (VMO2) is also on track, smaller rival Three has stated it is “working hard” to achieve the targets but has not confirmed its compliance.
BT, which owns the EE network, recently struck a rural coverage agreement with some of its competitors to help meet the deadline. Sources reveal that BT has arranged for VMO2 and Vodafone to access some of its mobile masts in remote areas.
EE, boasting more mobile masts than its rivals and contributing separately to the rural coverage project, met its initial target earlier this year.
These last-minute agreements highlight the urgency to upgrade rural mobile signals after the government denied requests for an 18-month extension. If Three fails to complete the first phase of the project, it risks incurring fines. The project focuses on “partial not spot” areas where coverage is provided by at least one operator but not all.
Ofcom, the regulator, has the authority to fine companies up to 10% of their global turnover but has indicated that any response would be “reasonable.” Three is expected to meet with Ofcom in the coming weeks.
Delays in the Shared Rural Network (SRN) project would negatively impact local communities awaiting upgrades to their vital telecoms infrastructure. A recent analysis by consultancy FarrPoint, commissioned by EE, revealed that 4G connectivity has generated economic benefits of up to £6.9 million over 15 years for rural communities.
The second phase of the SRN project, funded by the government, will target “total not spot” areas, where no operators currently provide 4G services. Ministers aim to cover 95% of the UK’s landmass by the end of next year and the entire country by early 2027.
A spokesperson for Three said: “We are working hard to meet the interim deadline and are on track to deliver the overall January 2027 target for 4G geographic coverage under the SRN programme.”
A BT spokesperson commented: “We’ve been in discussions with several other mobile networks in recent months to share sites to support their coverage efforts, and we’ll continue to collaborate with them on the next phase of the project.”
An Ofcom spokesperson added: “We’re responsible for assessing mobile network operators’ compliance with their coverage obligations, and we expect to receive data about their progress soon. Over the summer, we will conduct our own analysis, including drive tests to certain locations to verify coverage. An update on our findings and next steps will be published in due course.”
Read more:
Three set to miss rural broadband deadline

Labour politicians are calling on Tata Steel to refrain from making irreversible decisions before next week’s general election.
The Indian company recently announced it plans to expedite the shutdown of blast furnaces at its Port Talbot plant due to impending industrial action.
As Britain’s largest steel producer, Tata Steel has informed workers at the South Wales site of potential early cessation of operations, prompted by a looming strike by Unite union members.
The company had originally planned to close one furnace by the end of June and the second by September, transitioning to a more environmentally friendly electric arc furnace as part of a government-backed initiative.
Unite has initiated strike action to protest these plans, which they claim will lead to the loss of thousands of jobs.
In response to the planned strike on July 8, Tata has stated it is “left with no alternative but to take preparatory steps to cease operations on both blast furnaces and safely isolate them no later than July 7.”
This announcement has drawn condemnation from Unite and calls from Labour politicians for Tata to delay their plans. Stephen Kinnock, Labour’s parliamentary candidate for Aberafan Maesteg, and David Rees, Labour’s Senedd member for Aberavon, issued a joint statement stressing the importance of prioritising the safety and security of steelworkers and the plant.
They added: “Tata wouldn’t be facing strike action if it hadn’t chosen to proceed with the closures of the blast furnaces so hastily. We have consistently urged Tata to avoid any irreversible actions until after the general election, given the potential for discussions with a Labour government regarding a £2.5 billion steel renewal fund.”
Labour has pledged to secure a better deal for the steel industry if they come to power and has previously urged Tata to consider a compromise plan, supported by Community and GMB unions, to maintain one blast furnace until the electric arc furnace is operational. This proposal, however, would cost taxpayers more than the £500 million offered by the current Conservative government and has been rejected by Tata, which plans to invest £750 million to decarbonise its UK operations under the existing agreement with ministers.
Tata, which has taken legal action against Unite’s strike ballot, emphasised that pausing or stopping heavy operations, including both blast furnaces, is not a decision taken lightly due to its significant cost and disruption across the supply chain. The company insists that the safety of people on or around their sites remains their top priority.
Unite’s general secretary, Sharon Graham, commented: “Tata’s threat to shut or pause its blast furnaces three months earlier than planned is the latest in a series of intimidations that will not deter us. We urge the real decision-makers in Mumbai to intervene in this dispute.”
Read more:
Labour Appeals to Tata Steel to Postpone Port Talbot Closure Amid Strike Threat

Despite England’s lacklustre start to Euro 2024, the tournament has proven lucrative for the team’s former captain, Gary Lineker.
Analysis from media specialists have revealed that the BBC pundit has earned over £125,000 from his podcast, The Rest is Football, since England’s opening game against Serbia.
The podcast, which also features former footballers Alan Shearer and Micah Richards, has seen a surge in downloads following their critical commentary on Gareth Southgate’s squad. During the BBC’s coverage of England’s 1-1 draw with Denmark, Lineker was particularly scathing, and he continued his critique on his podcast, describing the team’s performance as “sh*t.” This prompted a rebuttal from England captain Harry Kane, who argued that ex-players like Lineker and Shearer should moderate their criticism due to their own roles in England’s trophy drought.
Lineker and Shearer defended their positions on their podcast, which resulted in a record 530,000 views on YouTube. However, Lineker’s growing commercial success has caused some consternation within the BBC. Critics within the corporation argue that Lineker’s dual role as a BBC presenter and podcast host creates a conflict of interest, especially after he was seen wearing a brand-endorsed green T-shirt during England’s opening match, violating BBC policy.
An insider at the BBC commented, “Ordinary staff are well aware of the bar on using the BBC for self-promotion or commercial gain. There’s a belief that Lineker receives special treatment, which many find unfair.”
However, not everyone at the BBC shares this sentiment. A senior figure stated, “There’s no unrest here. The media just enjoys targeting Lineker because of his outspoken nature. He adheres to the rules for commercial activity—mostly.”
Lineker’s commercial activities have also ruffled feathers among rival sports producers. A competitor expressed surprise at how Lineker’s business interests have thrived due to his BBC platform, noting, “The horse has bolted with all the commercial work the talent are doing. It’s surprising how they’re getting away with it.”
Harry Lineker, Gary’s son and producer of The Rest is Football, reported a 62% increase in downloads since the Euros began, with YouTube views up by 83%. The podcast’s revenue is divided between Lineker, Shearer, Richards, and Goalhanger Podcasts, the production company co-owned by Lineker and Tony Pastor, former ITV head of sport.
Goalhanger Podcasts also produces popular shows like The Rest is Politics and The Rest is History. The Rest is Politics, in particular, is experiencing a surge in popularity due to the impending elections in the UK and the US. Collectively, Goalhanger’s podcasts achieve nearly 40 million downloads monthly.
Financially, Goalhanger’s success is significant. The company’s last published accounts showed a tripling of its capital and reserves to £591,000 as of May last year. Industry insiders indicate that podcast advertising rates are high, with presenters’ spoken promotions earning £45 per 1,000 listens, and standard adverts fetching £15 per 1,000 listens.
Recently, Lineker used his football podcast to promote brands like Hellmann’s, Disney, and EE. Tony Pastor confirmed the show’s success since the Euros began, noting that the presenters are well compensated.
This commercial triumph has spurred speculation about a potential sale of Goalhanger to investors, which could yield a substantial payout for Lineker and his partners. Reports suggest that Jeff Zucker, former CNN chief executive and current head of RedBird, may be interested, although Pastor denied any direct contact with Zucker during a BBC Media Show interview earlier this month.
With a net worth estimated at £30 million, Lineker is financially secure, but the success of his podcast ventures continues to elevate his profile in the business and sports broadcasting realms.
Read more:
Gary Lineker Scores Big with Podcasts as Football and Elections create a Hattrick of Earnings

Today marks a significant milestone in the careers of four emerging designers as they debut their collections at the prestigious JCA London Fashion Academy’s Undergraduate show.
Held at the Boston Manor House campus, the event promises to be a celebration of innovation, sustainability, and mental health awareness in fashion.
TAYLA-LILY by Tayla Brace introduces a genderless streetwear brand that explores mental health themes through oversized silhouettes and comfort-focused designs. Brace’s collection draws inspiration from the Aokigahara Forest in Japan, reflecting its haunting beauty and the poignant narratives associated with it. “The Aokigahara Forest is shrouded in darkness, but I saw the beauty in the forest itself. I resonated with its complexity and wanted to honour it,” said Brace. Her collection features unique elements like ribbon details and marionette-inspired eyelets, all meticulously crafted using traditional Japanese ink drawing methods.
REELL by Jazzy Newnham brings a performance-oriented menswear collection that melds heritage fabrics, music, and fishing. Newnham’s designs emphasize comfort, inclusivity, and sustainability, using upcycled materials and Harris Tweed®. “Reflecting back on nostalgic memories is something everyone can relate to. This collection means a lot to me because I have reinvented a family hobby, fishing, into the world of fashion,” Newnham shared. The collection, supported by Harris Tweed®, features functional and stylish pieces like tweed tracksuit bottoms and a mantal crafted from fishing bivvies.
ALLANDRÉ by Andreea Pirlog showcases bespoke luxury garments and accessories, with a strong focus on authenticity, quality, and ethical sustainability. Pirlog’s debut collection integrates Japanese pattern-making techniques with Western tailoring, using luxurious materials such as Italian nappa leather and French silk organza. “My inaugural collection is dedicated to raising awareness about mental illness, particularly targeting individuals in the fashion industry,” Pirlog emphasized. Her collection features intricate designs and unique digital prints, with sponsorship from Pineider enhancing the accessory line with premium leather.
Demi O’Shea by Demi Colton O’Shea presents a forward-thinking brand specializing in bespoke fashion and accessories with 3D printing innovation. O’Shea’s collection prioritizes sustainability and ethical crafting, using biodegradable materials and offering personalized services. “Demi O’Shea offers ethical, bespoke fashion with 3D printing innovation, elevating style sustainably,” O’Shea explained. The collection blends vibrant hues and premium fabrics, showcasing the potential of 3D printing in creating timeless and eco-friendly fashion pieces.
Each designer brings a unique perspective to the JCA London Fashion Academy showcase, highlighting the institution’s commitment to nurturing talent and fostering innovation. As Professor Jimmy Choo’s mentorship continues to inspire these young creatives, the future of fashion looks promising, with a strong emphasis on sustainability, mental health awareness, and ethical practices.
Read more:
New Designers Shine at JCA London Fashion Academy Showcase

All major Parties’ Tax policies – as given by their Manifestos – give general election voters a misleading impression of tax over the next 5 years.
That’s the view of  Robert Salter, a Tax Technical Director with leading audit, tax and business advisory firm Blick Rothenberg. He said: “The Labour manifesto, for example, suggests that only around £8bn of tax raises are planned by a Labour Government, which is essentially nothing when total Government tax revenues are ca. £1,000bn per year.”
He added: “Criticisms can also be raised on the Conservative Party manifesto, with the NIC cuts they are promising being only really affordable if there are tax rises elsewhere (or significant spending cuts), whilst the Conservatives’ proposal for a special personal tax allowance rate for pensioners – so that they avoid tax on their state pensions – has no wider economic rational.”
Robert said: “While economic growth might provide all parties with some additional tax revenues – which is clearly what they are hoping for, the fact is that this is unlikely to provide any of them with significant extra tax revenues.”
He added: “It is equally valid to critique the policies of the Liberal Democrat, Green and Reform parties. None of the parties are fully addressing the various tax anomalies within the UK tax system which can result in taxpayers having marginal tax rates of 55% – 60% (or even significantly higher in some situations), despite the UK’s official, top rate of income tax being only 45%.”
Robert said: “In addition, many of the tax measures which have been proposed will simply not work. They will not bring in any significant amounts of tax, or alternatively, could create additional negative behaviours from taxpayers and drive inflation or extra Government borrowing.”
He added: “For example, all of the parties talk about attacking the tax gap – the taxes which HMRC believe are due, but which aren’t paid for one reason or another. However, their plans include little meaningful analysis of how this tax gap will be reduced and none of the parties publicly recognise that the majority of the tax gap is caused by small business non-compliance – that is, errors or deliberate actions on the part of the smallest businesses in the UK. Instead, the manifestos talk about targeting tax avoidance amongst major firms, which according to HMRC’s own figures is only a very small part of the overall tax gap.”
Robert said: “Other tax plans which have been mentioned are either very simple to avoid – such as the Lib Dems plans to have a tax on share buybacks by FTSE companies, which will probably bring in no actual tax.”
He added: “Alternatively, the Greens proposals to change the NIC rules – so that the standard 8% NIC rate applies to all wages including those above £50,270 per annum – will result in an effective marginal tax rate of 48% (40% tax and 8% NIC) for middle-earners, whilst the sharp tax cuts promised by Reform (e.g. with the personal tax allowance increasing from £12,570 at present to £20,000) are largely unfunded and could easily trigger inflation.”
Robert said: “Given that all parties are either being coy about their real tax plans, or not admitting to the real risks which would arise from the implementation of their manifestos, it is reasonable for taxpayers to challenge all of the major parties on tax and to demand answers. Otherwise, taxpayers will only have themselves to blame when they face some nasty tax shocks over the coming 5 years!”
Read more:
All Major Parties’ Tax Manifestos could lead to nasty shock for taxpayers

A leading VAT expert is calling on private schools to review the accounting treatment of pre-paid school fees in order to avoid huge tax charges at a later date.
It follows news of Labour’s plan for anti-forestalling measures on proposed private school VAT legislation. This would see the party recoup VAT on pre-paid fees for education that takes place after the VAT comes into effect.
Now, Daphne Hemingway, VAT Director at Jerroms Miller Specialist Tax is urging schools to remodel their finances and reassess the VAT accounting for advance payment schemes, as she believes many of these schemes are not sufficiently robust. She says it’s crucial for schools to act, as parents will expect that existing contracts to protect the VAT exemption on prepayments:
“There’s lots of speculation that VAT may be chargeable regardless of when the legislation is enacted. Without action, this could leave schools facing significant tax bills and could even face closure as a result of relatively simple VAT accounting errors. If the relevant pupils have left the school when the rules are applied, parents may no longer be contactable to clawback the additional 20%.
What’s more, not all parents can afford a rise in fees so pupils could be withdrawn from private education, creating a further gap in finances. Advance payments will therefore be crucial. VAT law is rarely clear or logical, and the correct accounting treatment can override the terms and conditions of several fees in advance schemes. Schools will be able to recover VAT on historic and ongoing expenditure and may well be able to reduce fees and thereby pass on less than 20%.”
Read more:
Private school fees: Schools need to act now to avoid huge tax liabilities in the future 

Economists from Capital Economics predict that Labour could benefit from a £16 billion spending boost if it wins the upcoming General Election, thanks to updated forecasts from the Office for Budget Responsibility (OBR).
This potential fiscal headroom is nearly double the £8.9 billion announced in the March Budget.
Rachel Reeves, Labour’s shadow chancellor, could use this revised forecast to either reverse some planned spending restraints or address the freeze on personal tax thresholds, though likely not both simultaneously.
The OBR’s improved borrowing forecast, revised downward by about £5 billion annually over the next five years, is attributed to increased tax revenues driven by recent wage growth. This shift provides the next government with an opportunity to reassess its fiscal strategies.
If Capital Economics’ predictions hold, the next chancellor might have a fiscal headroom as large as £27 billion, assuming further-than-expected interest rate cuts and higher-than-anticipated tax revenues from elevated house and equity prices. However, the OBR’s forecast could vary significantly, presenting a range of scenarios from a £13 billion deficit to a £38 billion surplus, equating to 1.4% of GDP.
Deputy chief UK economist Ruth Gregory noted, “Overall, as things stand, we suspect the next government may be handed a bit more fiscal space by the OBR. But it probably won’t have enough fiscal headroom to do everything it wants all at once.”
Gregory emphasized that economic developments and the OBR’s forecasts will significantly influence the available fiscal headroom, alongside the new government’s willingness to raise taxes to fund additional spending beyond what the fiscal space allows.
The potential fiscal flexibility comes amid discussions on how to best utilize the projected surplus to balance spending and tax cuts, reflecting broader economic conditions and strategic priorities of the next administration.
Read more:
Labour Could Cut Taxes by £16bn, Say Economists

Labour has announced plans to prevent parents from pre-paying private school fees in an attempt to dodge the forthcoming VAT increase if the party wins the general election on July 4.
Senior Labour sources confirmed to The Telegraph that anti-forestalling legislation will be introduced to stop pre-payments on school fees before the VAT comes into effect.
Rachel Reeves, Labour’s shadow chancellor, stated that the plan to introduce a 20% VAT on private school fees will be included in her first budget, anticipated in September if Labour wins the election. Although the actual VAT is expected to be implemented by September next year, the anti-forestalling legislation would ensure that any fees paid in advance for education provided after the VAT comes into force will still be subject to the tax.
This move aims to close a loophole where some schools encourage parents to pay several years’ fees upfront, often offering discounts as much as 5%. Labour’s approach is modeled after a similar tax strategy used by former Chancellor George Osborne in 2010.
Bridget Phillipson, Labour’s shadow education secretary, noted that the exact timing of the VAT implementation depends on the parliamentary process but reiterated the party’s commitment to act swiftly. She emphasized that private schools have had ample time to prepare for these changes.
Labour believes this measure could generate up to £1.7 billion, which would be invested in state education to recruit 6,500 teachers, 8,500 mental health specialists, and 1,000 careers advisers, among other initiatives.
While some private schools have updated their policies to warn parents about the potential for future VAT charges, tax experts like Mike Warburton caution that the new legislation could prove complex for both schools and parents.
Labour’s determination to close this loophole reflects a broader effort to ensure that tax policies benefit the wider public, particularly in enhancing state education opportunities.
Read more:
Labour to Close VAT Loophole on Private School Fees

BP has announced a pause on all new offshore wind projects as the company’s newly appointed CEO, Murray Auchincloss, pivots focus back to fossil fuels. This strategic shift, first reported by Reuters, also includes a hiring freeze within the offshore wind division.
Auchincloss, who took over at the beginning of the year, aims to decelerate investments in large-scale, low-carbon projects like offshore wind that do not promise immediate returns. This move contrasts with the policies of his predecessor, Bernard Looney, who had begun transitioning the company away from fossil fuels before resigning last autumn due to personal scandals.
This shift back to fossil fuels has been influenced by investor concerns over the profitability of BP’s renewable energy ventures, especially as oil and gas profits surged with the global economic recovery post-pandemic and the geopolitical instability following Russia’s invasion of Ukraine.
Sources within BP have indicated that Auchincloss and CFO Kate Thomson are prioritizing investments in existing oil and gas operations, particularly in the Gulf of Mexico and US onshore shale basins. These areas are expected to generate more immediate returns compared to the long-term investments required for offshore wind projects.
BP remains open to investing in biofuels and other low-carbon ventures that can offer quicker returns. Recently, BP agreed to purchase a 50% stake in a Brazilian sugar and ethanol joint venture from grain trader Bunge for $1.4 billion (£1.1 billion).
Despite these changes, BP is expected to implement some job cuts within its renewables sector, though specific targets have not been disclosed. A company-wide hiring freeze is also in effect, with exceptions for essential frontline and safety personnel.
Since taking the helm, Auchincloss has emphasized a pragmatic approach, including a $2 billion cost-saving drive by the end of 2026 and a streamlined executive leadership team. BP’s statement to Reuters outlined six priorities introduced by Auchincloss aimed at making BP a “simpler, more focused and higher value company.” These priorities include enhancing efficiencies and advancing BP’s growth projects.
The company’s shares have underperformed in recent months, leading to speculation about potential takeover bids and increasing pressure on Auchincloss to balance the need for decarbonisation with the immediate demand for fossil fuels.
In 2023, BP allocated $2.5 billion to renewables, hydrogen, electric car charging, and biofuels out of a total investment budget of $16 billion. Despite these investments, BP remains the only major oil company with explicit targets to reduce its oil and gas production. Shell, by contrast, has recently adjusted its strategy to focus on high-return businesses, scaling back investments in many renewable and low-carbon energy sectors.
The decision to halt offshore wind projects is likely to provoke backlash from climate activists who have long campaigned for BP’s transition to clean energy. As the company navigates these complex dynamics, the actions of Auchincloss will be closely watched by both investors and environmental advocates.
Read more:
BP Halts Offshore Wind Projects to Refocus on Fossil Fuels