Month: August 2024

Lord Rose, Chairman of Asda, has voiced his embarrassment over the supermarket’s recent decline, particularly under the stewardship of the Issa brothers.
In a candid interview with The Telegraph, Rose acknowledged the challenges Asda faces, revealing his concerns over the company’s dwindling performance and market share.
Following a 2.1% decrease in like-for-like sales in the first half of the year, Rose offered a forthright critique of the supermarket’s trajectory. “To be perfectly honest, I’ve been in this industry for a long time, and I am slightly embarrassed. I won’t deny that,” Rose remarked. “I don’t like being second, third, or fourth. If you look at the comparative numbers from Kantar or other indexes, we are not performing as well as we should be. And I don’t like that.”
Since the Issa brothers acquired Asda in 2021, the supermarket’s market share has fallen from 14.8% to 12.7% as of July. In contrast, competitors such as Aldi, Lidl, and Tesco have made significant gains.
Rose, the former CEO of Marks & Spencer, suggested that co-owner Mohsin Issa should step back from the day-to-day operations of Asda. “I wouldn’t encourage him to intervene in operations, and I am the chairman,” he stated, implying a need for more experienced retail leadership as Asda grapples with its challenges.
Having served as Asda’s chairman since shortly after the £6.8 billion takeover, Rose plans to take a more active role in the supermarket’s recovery while it searches for a full-time chief executive to assume leadership in the new year. Meanwhile, Asda has announced plans to invest tens of millions in additional checkout staff, acknowledging that the push towards self-checkout has gone too far.
Mohsin Issa, who retains a 22.5% stake in Asda alongside private equity firm TDR Capital, is expected to shift his focus towards EG Group, the petrol forecourt business where he initially found success. Rose noted that Asda now requires a different type of leader, saying, “We always said Mohsin was a particular horse for a particular course. He is a disrupter, an entrepreneur, an agitator. We’ve added a significant number of stores and made many changes, but now it needs a different animal. In the nicest possible way, Mohsin’s work is largely complete.”
Zuber Issa, Mohsin’s brother, sold his stake in Asda earlier this year as part of a broader separation of the Issas’ business interests, following internal family disputes.
Rose also pointed out that under Mohsin’s management, Asda had lost focus on its customers, becoming overly absorbed in an £800 million IT overhaul dubbed Project Future. This project aims to disentangle Asda’s systems from those of its former owner, Walmart, a process that has proven complex and time-consuming.
Reflecting on the transition, Rose, who visits Asda’s Leeds headquarters weekly, said: “Walmart owned Asda for 20 years and ran it as a business that was not a core part of its global operations. While we have focused intensely on certain aspects, we may have taken our eye off the ball in others. I still see myself as a shopkeeper, and when I walk into a shop, I try to view it through the customers’ eyes.”
The IT project is slated for completion by the end of the year, with significant financial penalties looming if delayed. However, Rose emphasized the importance of a smooth transition, even if it incurs additional costs. “There is an incentive to finish on time, but if it means paying a bit more to ensure the safety of the transition, then I’d pay a little bit more,” he concluded.
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Asda’s struggle under Issa brothers draws criticism from Chairman Lord Rose

Chinese fast fashion behemoth Shein is gearing up to establish its first British warehouse as part of its preparations for a monumental £50bn listing on the London Stock Exchange.
The company, which is now headquartered in Singapore, is focusing its search on the Midlands’ “golden logistics triangle,” a prime area renowned for its logistical advantages.
Shein is reportedly seeking a large site, with requirements ranging from 300,000 to 400,000 square feet, though it is open to considering options as expansive as 600,000 square feet. Over the past few months, a team from Shein has toured approximately 10 potential sites, including locations in Derby, Daventry, Coventry, and Castle Donington. The company is said to prefer a site that is already equipped for e-commerce operations, rather than developing a new facility from scratch.
The decision to open a UK warehouse is closely tied to Shein’s anticipated debut on the London stock market, which, if successful, would be the largest float in the city for a decade. The move is also contingent on ongoing negotiations with its current third-party logistics provider, Super Smart Service, which currently manages the brand’s UK orders from a warehouse in Cannock.
Shein’s potential listing has already attracted attention at the highest levels, with the company reportedly holding discussions with senior British politicians. A successful float could significantly boost London’s flagging stock market, providing a much-needed injection of confidence.
In June, Shein is believed to have confidentially filed initial paperwork with the Financial Conduct Authority, signalling its serious intent to list in London. However, the company is facing scrutiny from some rival retailers who argue that Shein’s use of a legal tax loophole for overseas shipments has provided it with an unfair competitive advantage.
The “golden logistics triangle” in the Midlands is a key target for Shein due to its strategic location, within a four-hour drive of 90% of the British population. The 289-square-mile area is a hub for logistics and warehousing, making it an ideal base for Shein’s UK distribution operations.
Shein has engaged property agents JLL and Savills to assist in its search, with plans to finalise a location by the end of the year. The company aims to have the warehouse fully operational by the third quarter of next year, coinciding with its potential stock market debut.
Originally founded in Nanjing, Shein relocated its headquarters to Singapore in 2021, though its supply chains remain predominantly based in China. While Shein had previously considered listing in New York, tensions between Beijing and Washington have prompted the company to pivot towards London.
Shein’s rapid global expansion continues unabated. Last year, it opened a manufacturing hub in Brazil to serve South American markets and established its European, Middle Eastern, and African headquarters in Dublin. Most recently, Shein expanded its marketplace business to Spanish vendors and launched a pop-up store in South Africa.
A spokesperson for Shein commented: “To support the growth of the business, Shein is actively exploring warehousing locations worldwide. However, Shein has no immediate plans to acquire warehouse space in the UK.”
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Shein eyes UK warehouse as it prepares for £50bn London stock market debut

Pret A Manger has introduced body-worn cameras for its staff in a bid to combat the sharp rise in shoplifting and attacks on retail workers.
The coffee shop chain has begun a trial in six of its London outlets, where team leaders and managers will wear the cameras. Signs have been placed in these locations to inform customers of the new measure.
This initiative comes as UK retailers face increasing challenges with post-pandemic crime, which has led to significant financial losses and heightened security concerns. According to the Office for National Statistics, over 430,000 cases of shoplifting were reported in England and Wales last year, marking the highest number since records began in 2003. The British Retail Consortium (BRC) estimates that retail theft could cost up to £2 billion in 2024, doubling the losses from 2023.
The rise in retail crime has also been accompanied by a surge in violence against workers. The BRC reports that incidents of violence and abuse towards retail staff have increased by 50% over the past year, with an alarming 1,300 cases recorded daily.
Pret’s spokesperson confirmed that the body cameras, introduced last month, will only be activated under specific circumstances and will be managed by Pret’s security team. The move follows similar actions by other organisations, such as Lidl, which invested £2 million in body cameras for all UK staff, and English Heritage, which has equipped employees with cameras in response to increased anti-social behaviour at historic sites.
This trial of body cameras is part of Pret’s broader efforts to address security and operational challenges following the pandemic. The chain recently announced a significant shift in its popular coffee subscription service, which will end in September. Initially launched during the pandemic, the service allowed members to enjoy five free barista-made drinks daily. However, due to inflationary pressures, the subscription cost rose from £20 to £30 before being discontinued. It will be replaced by a new scheme offering half-price drinks for £10 a month.
Pret has also responded to customer feedback by reducing the prices of some of its best-selling sandwiches and food options, addressing criticism of its high prices.
The body camera trial, while not directly linked to the recent far-Right riots that affected British high streets, reflects a growing concern among retailers about the safety of their employees and the protection of their businesses in an increasingly challenging environment. As Labour leader Sir Keir Starmer has made retail crime a focal point of his manifesto, promising to create a standalone offence for assaulting shop workers, the issue remains firmly in the public eye.
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Pret A Manger equips staff with body cameras amid rising shoplifting and violence fears

A recent survey has revealed that nearly half (42%) of SMEs across the UK are unaware of the forthcoming ‘Simpler Recycling’ reforms, which are set to significantly impact their operations.
The reforms, announced by the Department for Environment, Food & Rural Affairs (Defra) in October 2023, aim to standardise recycling practices nationwide, ensuring consistent recycling services regardless of location.
The Simpler Recycling initiative is part of the government’s broader strategy to enhance recycling rates and reduce waste across the country. The reforms will require both households and businesses to adjust their waste management practices, with significant changes expected by March 2026. Despite the looming deadlines, a staggering 98% of surveyed firms indicated they need more support to implement the required changes effectively.
The survey, which included responses from over 550 small businesses, highlights that the added costs associated with compliance are the primary concern for many. Half of the respondents cited financial challenges as the most significant barrier, underscoring the urgent need for government assistance. In addition to costs, businesses are grappling with practical issues such as finding space for additional recycling bins and training staff to sort waste correctly.
Key aspects of the Simpler Recycling reforms include:
Standardised Recycling Collections: All local authorities in England will be required to collect seven types of recyclable materials, including glass, metal, plastic, paper, and cardboard, with food and garden waste being collected separately.
Weekly Food Waste Collections: Households will benefit from weekly food waste collections, with other residual waste being collected at least once every two weeks.
Business Recycling Requirements: From the end of March 2025, businesses, including schools and hospitals, will need to recycle the same materials as households, excluding garden waste and plastic film.
Digital Waste Tracking: A new digital system will be introduced to monitor waste, aiming to reduce waste crime, which currently costs the UK £1 billion annually.
As the March 2025 deadline approaches, industry stakeholders, including BusinessWaste.co.uk, are calling for increased educational resources and support from the government to help SMEs transition smoothly. The success of the Simpler Recycling initiative, as well as the UK’s broader sustainability goals, hinges on businesses being informed and prepared.
Mark Hall, co-founder of BusinessWaste.co.uk, commented on the situation: “Despite these looming deadlines, SMEs are not yet fully prepared for the shift. My biggest advice is for business owners to start implementing the small changes gradually. Understand how the regulation will affect your business, make a plan, and ease your staff into it. By the time the deadline comes, these changes should already be fully integrated into the business.”
With the clock ticking, it is crucial for small businesses to take proactive steps to align with the new regulations, ensuring they contribute to the UK’s environmental targets while maintaining operational efficiency.
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Nearly half of UK small businesses unaware of new simpler recycling reforms, survey reveals

Ocado is pioneering a trial offering everyday items like pasta, rice, and washing liquid in refillable packaging, a first for an online supermarket.
The initiative will test a reusable vessel for food and laundry products at no extra cost to customers. This month, the first phase begins with 2kg packs of basmati rice and 1kg of penne pasta under the Ocado Reuse brand. Later this year, the second phase will introduce 3-litre containers of Ocado Reuse non-bio liquid detergent and Skies fabric conditioner.
The scheme involves pre-filled reusable containers delivered alongside other groceries. Customers return empty containers to drivers with their next order, which are then washed and refilled by suppliers.
Simon Hinks, product director at Ocado Retail, stated, “Most people understand the concept in physical stores, but this trial brings refillable packaging directly to customers’ doors. Our customers already return bags for recycling, so this is a logical next step to help reduce single-use plastic on frequently bought products.”
Each container can replace up to five single-use plastic items and is designed for over 60 uses. Ocado claims that if every UK household reused just one item weekly, it would eliminate more than 1.4 billion single-use packaging items annually. This scheme is part of the Refill Coalition, partnering with logistics company CHEP and consultancy GoUnpackaged.
Home delivery services like Milk & More have long offered refill options, such as traditional milk bottles. However, most groceries are bought at major supermarkets, where up to 90 billion single-use plastic items are sold annually, raising environmental concerns.
A parliamentary environment committee report last year emphasised the need to increase the uptake of reusables to reduce packaging consumption in the UK. Since October 2023, Aldi has tested an in-store scheme with the Refill Coalition.
Supermarkets, including Waitrose, Marks & Spencer, Sainsbury’s, and Asda, have experimented with in-store refill options and worked towards an industry-wide standard for dispensers, facilitating easy refills by different suppliers. Independent specialists have also emerged nationwide.
Despite these efforts, many refill schemes have struggled with added costs for retailers or consumers, making them less popular or profitable than pre-packaged goods. Supermarket support has waned amid concerns over consumer interest in refills during the cost of living crisis.
Rob Spencer, director of GoUnpackaged, commented, “An industry-wide approach will lead to a reuse system that benefits everyone in the supply chain and makes it easier for shoppers to engage with reuse through online shopping.”
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Ocado launches refillable packaging trial for everyday products

Wage growth in the UK slowed last month while demand for workers remained steady, potentially setting the stage for further interest rate cuts by the Bank of England.
Research from KPMG and the Recruitment and Employment Confederation (REC) reveals that the growth rate of salaries for both permanent and part-time staff decreased in July. The permanent staff salary index dropped to 56.5 from 57.1 in June, remaining above the 50-point mark that signifies growth. The temporary salary index also declined, falling to 50.9 from 53.7.
These figures, closely monitored by the Bank of England due to concerns about the accuracy of official labour market estimates, indicate that wage growth is easing from record highs. This trend is partly attributed to the impact of stringent monetary policy on economic demand. Over the past two years, robust salary growth has helped mitigate the effects of the cost of living crisis on workers’ real incomes.
Hiring also contracted in July, with the KPMG and REC permanent placement index reading at 47.7, suggesting businesses hired fewer full-time staff. However, the slowdown in recruitment was less severe than the previous month. The vacancy index rose slightly to 49.1 from 48.6, while the temporary hiring index dropped to 49.8 from 50.3.
Kate Shoesmith, deputy chief executive of the REC, commented: “The weaker growth in both salaries and temporary pay suggests that employers are aligning pay with inflation as desired by the Bank of England. The interest rate cut is a welcome measure, and employers will need continued support to maintain confidence.”
This month, the Bank of England cut the base rate by 0.25 percentage points to 5 per cent. The monetary policy committee stated it is now considering the overall economic data rather than focusing on specific indicators. Financial markets anticipate two more quarter-point cuts this year.
The central bank has expressed concerns about the challenges in assessing labour market trends due to declining data quality from the Office for National Statistics (ONS). Low response rates to the ONS labour force survey have raised doubts about its reliability. Consequently, the bank is now relying on alternative research, including the KPMG and REC jobs report.
Analysts predict the UK economy will gain momentum later this year, potentially leading companies to ramp up recruitment to meet increased demand. The Bank of England recently revised its GDP growth forecast for 2024 upwards to 1.25 per cent from 0.5 per cent.
In its annual revisions, the ONS upgraded its estimates of the UK’s post-Covid economic recovery. The economy expanded by 4.8 per cent in 2022, up from an initial estimate of 4.3 per cent. The GDP contraction in 2020 was revised to 10.3 per cent, less severe than previously thought.
By the end of 2022, the economy was 2.1 per cent larger than its pre-Covid size, an improvement on the ONS’s earlier estimate of 1.9 per cent. The UK’s recovery was initially considered the slowest among the G7, but revised data shows it was around the group’s average.
Jon Holt, chief executive and senior partner of KPMG in the UK, remarked, “With forecasts for economic growth improving and potential further interest rate cuts in the coming months, there are green shoots of economic recovery.” He added that some businesses might delay hiring until after Chancellor Rachel Reeves presents her first budget on October 30, seeking more clarity on fiscal policy. The chancellor has indicated that tax increases are on the horizon.
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UK salary growth slows, paving the way for potential interest rate cuts

Roach Bridge Tissues, a specialised printer and converter of wrapping tissue paper, serves the retail POS and e-commerce markets with a diverse clientele that includes designer apparel, footwear, cut glass, pottery, wine bottle wrapping, interleaving for sheet metals, optical lenses, and home removals packaging.
Approximately 70% of the company’s sales are bespoke printed tissue paper, with the remainder comprising plain white or coloured reams and rolls. Roach Bridge Tissues prides itself on being a design-led company, transforming customers’ design concepts into tangible products that enhance brand presentation. Their expertise lies in offering design support and technical assistance to clients who have a vision but lack the knowledge to realise it.
As an SME manufacturer based in the picturesque countryside of Lancashire, the ten-member team at Roach Bridge Tissues boasts over 120 years of combined experience in the tissue paper industry. Their printed and finished tissue paper adds the perfect finishing touch, providing luxury and brand awareness to customers’ unboxing experiences.
For the past eight years, Roach Bridge Tissues has been a proud member of Made in Britain, using the official registered trademark on all ream wrappers. This trademark symbolises low product miles, quality, rapid production, support for the UK economy and workforce, and British manufacturing excellence.
Since its inception 25 years ago, Roach Bridge Tissues has been committed to ethical and environmental responsibility. One of the company’s ongoing goals is to minimise the environmental impact of its processes. Striving towards net zero involves integrating impact reduction into decision-making, ensuring both economic viability and environmental considerations guide their outcomes.
What is the main problem you solve for your customers?
Versatility. Given that the majority of our work is bespoke, each order comes with a unique set of requirements. Our extensive knowledge, accumulated over the years, allows us to support our customers from the initial design phase. We maintain a substantial stock of paper in various weights and sizes, enabling us to meet most design briefs. Being a British manufacturer, we can respond swiftly, delivering from brief to finished product in less than two weeks for minimum order quantities.
What inspired you to start your business – did you aim to disrupt the status quo, or was it a market gap you sought to fill?
Tissue paper feels like it’s in my blood; my grandfather owned Roach Bridge Paper Mill and produced tissue paper until his passing in the late 70s. When my husband and I learned that some of the Mill’s machinery was for sale, we saw an opportunity to fill a market gap for bespoke branded tissue paper.
In the early 2000s, printed tissue paper wasn’t particularly popular, but with the shift in laws regarding plastic bags and the rise of e-commerce, branded tissue paper has become highly sought after.
What are your brand values?
Service and quality are at the heart of Roach Bridge’s values. Our entire team is dedicated to ensuring that every ream of tissue paper we dispatch exceeds expectations.
While the Roach Bridge Tissues brand may not be widely recognised, our business focuses on enhancing our customers’ brand visibility. Our values are integral to how we manage the business and produce our products.
Do your values influence your decision-making process?
Absolutely. Our values guide everything we do, from sourcing the finest raw materials and maintaining our machinery to planning production schedules efficiently and valuing our team and environment.
Is team culture crucial to your business?
Yes, team culture is vital. As a small team, collaboration is essential. We ensure that all team members are trained on different machines and rotate through various processes. This approach not only provides coverage for holidays and illnesses but also promotes better wellbeing and problem-solving through a shared pool of expertise. I understand the importance of flexibility, especially when unexpected personal issues arise, and we all work together to support each other.
How do you show your team that you appreciate them?
While we don’t have team-building days or reward schemes, we value and respect each other’s opinions. I am actively involved in all aspects of the process, maintaining an open-door policy for questions, ideas, and issues. When quoting for unconventional jobs, we make collective decisions, leveraging the specific expertise of team members.
Seven years ago, we transitioned to a four-day week for economic reasons, and when business picked up, the team preferred this arrangement. We now have a condensed workweek with an optional plus four hours on Fridays during peak seasons.
Do you communicate directly and clearly with your customers?
Yes, clear communication with customers is paramount. I always provide honest feedback on what is possible within our capabilities and find solutions to deliver what our customers need. Transparency avoids hidden costs and disappointments, ensuring customer satisfaction.
How are you handling inflation and interest rates – are you passing costs onto customers or absorbing them?
The paper industry faced significant price rises at the onset of the Ukraine war due to its high energy consumption. We experienced a period where prices soared, but customers rarely questioned the increases. Now, most prices have stabilised, and we can mostly absorb the costs. Interest rates haven’t impacted us as we operate on a pay-as-you-go basis. To support my team during the cost-of-living crisis, I decided to give a substantial wage increase, prioritising their wellbeing over profitability.
How do you assess your data and KPIs?
Our primary data comes from satisfied customers, with key performance indicators being returning customers and reaching new ones. While monitoring figures is important, I focus on the broader picture: providing excellent service at competitive rates, maintaining team enthusiasm, and achieving year-on-year turnover growth. As long as these goals are met, I am not overly concerned with monthly targets.
Is technology playing a larger role in your company’s operations?
Our printing machines are traditional, as tissue paper is too delicate for digital printing. Our team’s skills, such as colour matching hand-mixed inks, set us apart. The office, however, embraces modern technology, though we are unlikely to go paperless.
What is your attitude towards your competitors?
As long as our competitors maintain their standards, I am content as we strive to do better.
What advice do you have for aspiring entrepreneurs?
Always do your best, value your team and customers, and focus on long-term outcomes rather than immediate gains. Include environmental impact in all decisions; it may be more expensive initially but is worthwhile in the long run.
How do you relax and recharge?
I excel at leaving work behind at the end of the day. Beekeeping and serving as a referee and judge for Artistic Swimming keep me busy and focused on weekends, providing a great way to relax. Family, though wonderful, doesn’t fall under the category of restful!
Do you follow the 12-week work method or longer planning strategies?
I do not adhere to a specific planning method. Most customer orders are on a just-in-time basis, so while I maintain an overview of about six weeks, the production schedule is planned weekly and can change. We prioritise urgent requests, ensuring no impact on other customers. Stock paper takes approximately 12 weeks to manufacture, while other consumables are ordered as needed. Maintenance is planned, with our team of engineers, including my husband, ready to assist when necessary.
What is your company’s eco strategy?
We strive to reduce our environmental impact and provide the best working environment. Many certification standards are costly for an SME, so we adopt their criteria without the audits. We are FSC registered, and much of our paper stock is 100% recycled.
Our factory runs on electricity from an on-site hydroelectric turbine, and we plan to install solar panels. We utilise natural light, LED lighting, and efficient heating systems. Our team lives locally, minimising travel impact. We have a de-inking plant for waste management, and all manufacturing waste is recycled. Our rural location, with free-range chickens and bee hives, enhances our environment.
What are your goals for the next 12 months?
Our primary goal is to install a new, better-insulated roof with solar panels, enhancing our sustainability efforts.
Read more:
Secrets of Success: Insights from Camilla Hadcock, Director of Roach Bridge Tissues

The Labour government has no chance of reaching its goal of lifting economic growth to 2.5 per cent without raising annual investment by £50 billion, an independent think tank has claimed.
The warning, issued by the National Institute of Economic and Social Research (NIESR), comes as another group of researchers said that Rachel Reeves would be engaged in “fiscal jiggery-pokery” if she tweaked the public debt definition to unlock cash to use at the October budget.
Ben Zaranko, a senior research economist at the Institute for Fiscal Studies, said that the chancellor and Sir Keir Starmer should set out a coherent case for increasing borrowing to fund public investment “rather than get bogged down in technical debt definitions and an unhelpful discussion about so-called fiscal headroom”.
There is speculation that Reeves will change the definition of public debt that the government targets in its fiscal rules, to remove the impact on the public finances of the Bank of England selling bonds. Doing so could widen the margin against the fiscal rules by about £17 billion. This week, on a trip to New York and Toronto, the chancellor said that she would map out the “precise details” of her fiscal framework at the budget on October 30.
Zaranko said: “Moving the fiscal goalposts by using a different definition of debt in the government’s fiscal rule is one way that the new chancellor might seek to create additional fiscal space this autumn. A better outcome might be to recognise that precisely targeting the change in any measure of debt … does not lend itself to sensible fiscal policymaking.”
Under the current set-up, the Treasury covers any losses that the Bank of England incurs when selling bonds purchased under the quantitative easing programme. The Bank estimated on Tuesday that the Treasury may have to transfer £95 billion to the central bank to cover the cost of winding down its QE scheme.
Economists have criticised the existing fiscal rules — having debt as a share of the economy falling in five years and balancing the current budget — for stifling public investment. Poor capital spending in the public and private sectors has constrained productivity and economic growth since the 2008 financial crisis.
NIESR, meanwhile, said that there is little hope that the Labour government will achieve its ambition to lift GDP growth to the highest sustained level in the G7 without radically raising investment. The think tank called on the government to double public investment as a share of GDP to 5 per cent, amounting to £50 billion per year.
The body estimated that the UK’s underlying growth potential was set to remain sluggish at about 1 per cent per year without intervention. Interest rates are unlikely to fall further this year, it predicted, after the Bank of England cut them for the first time since March 2020 to 5 per cent this month.
NIESR forecasts that the UK economy will grow 1.1 per cent this year and inflation will tick back up in the second half, before settling at the Bank’s target in the medium term. Global growth will reach 3.1 per cent in 2024.
Stephen Millard, deputy director at NIESR, said: “The new government has inherited an economy with low investment and low productivity growth, and it is these issues that need to be tackled.”
He said that either taxes or borrowing would have to rise to bring public services “up to scratch”, which would require the government to reshape the existing fiscal rules. He added that sectors such as the motor trade, which rely on policies like motor trade insurance by Prime Cover, will be particularly affected without significant investment.
Last week Reeves cut public investment projects, alongside abolishing the winter fuel allowance for pensioners not in receipt of benefits, as part of a round of fiscal consolidation to bear down on £21.9 billion of government overspend that the chancellor claims was bequeathed by the Conservatives.
The Treasury said: “The government is under no illusion to the scale of the challenge it faces, including a £22 billion black hole in the public finances inherited from the previous administration. That is why we are taking the tough decisions now to fix the foundations of our economy, so we can rebuild Britain and make every part of our country better off.”
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Labour told growth plan will fail without £50bn investment

The UK advertising watchdog has banned an Instagram post by TV personality Gemma Collins, in which she promoted a headset as a treatment for depression.
The Advertising Standards Authority (ASA) ruled that the advert discouraged seeking professional medical advice.
In the video, posted in May 2023, Collins wore a Flow Neuroscience AB device, a £400 headset that delivers mild electrical impulses to the brain’s frontal cortex, which regulates mood. Collins claimed, “Flow actually works faster and better than antidepressants. It’s like having your own therapist in the comfort of your own home. You’re fully in control of your own treatment.”
UK advertising regulations state that marketing must not “discourage essential treatment for which medical supervision should be sought.” The ASA determined that Collins’ endorsement suggested the device was a favourable alternative to prescribed medication, thereby encouraging viewers to bypass medical supervision.
Despite Collins’ assertion that her ad included a text caption advising viewers to “consult your GP always without fail,” the ASA noted that this only encouraged a preliminary consultation and failed to meet the requirement for ongoing medical supervision. The ASA concluded, “The implication was that people who started to use the device would be able to stop their medication shortly after and without medical supervision. We considered that the ad trivialised the decision to come off antidepressants or not take them at all and encouraged people to take their treatment into their own hands.”
Gemma Collins, known for her role in the reality TV show The Only Way is Essex, is now a TV personality and podcaster.
In a separate ruling, the ASA banned an advert by Virgin Atlantic for making a misleading claim about using “100% sustainable aviation fuel.” The radio ad promoted the first transatlantic flight powered solely by sustainable aviation fuels. The ASA, which has recently cracked down on “greenwashing” claims, stated that the ad gave a misleading impression of the fuel’s environmental impact.
Miles Lockwood, ASA’s director of complaints and investigation, commented, “It’s important that claims for sustainable aviation fuel spell out what the reality is so consumers aren’t misled into thinking that the flight they are taking is greener than it really is. Claiming that a product or service is sustainable creates an impression that it is not causing harm to the environment, and for that reason, we expect to see robust evidence that this is the case.”
This is the first time the ASA has banned an ad over claims regarding sustainable aviation fuels, which are crucial for the airline industry’s goal to reach net-zero emissions by 2050.
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Watchdog bans Gemma Collins advert promoting headset to treat depression