Month: March 2025

Specialist agricultural lawyers at Clarke Willmott LLP have reported a surge in enquiries about pre-nuptial and post-nuptial agreements from farming families, following recent government changes to inheritance tax on farm assets.
With succession planning now a pressing concern, private client and family law specialists are seeing increased demand for legal advice to safeguard farming assets, ensuring they remain within the family for future generations.
Holly Smith, an associate in Clarke Willmott’s family law team, explained that nuptial agreements can play a vital role in securing agricultural assets, including land, livestock, farming equipment, and business interests.
“Many farming families recognise the importance of protecting specific assets and ensuring they stay within the family,” she said. “A nuptial agreement can clarify ownership and outline how assets—including future inheritance and business interests—will be managed in the event of a divorce.”
Under government plans announced in October, from April 2026, agricultural and business property assets up to £1 million will continue to receive full inheritance tax relief, but anything above this threshold will be taxed at an effective rate of 20%. Farmers warn that these reforms could create severe financial challenges and even impact food production.
Smith stressed the importance of early legal planning: “We understand how concerned our agricultural clients are about these new rules. Seeking legal advice now is essential to mitigate risks and protect family assets.”
Beyond inheritance tax reforms, nuptial agreements are increasingly relevant when bringing the next generation into the family business, gifting assets, setting up trusts, or restructuring agricultural enterprises.
“By addressing potential issues in advance, farming families can ensure clarity, reduce the risk of disputes, and preserve their agricultural heritage,” Smith added.
As farming businesses navigate these legislative changes, legal experts are advising early action to secure long-term asset protection and avoid future uncertainty.
Read more:
Rise in pre-nup and post-nup agreements for farming families following budget reforms

Britain’s high streets continued to shrink in 2024, with an average of 35 stores closing each day as retailers battled online competition and economic uncertainty.
However, despite 12,804 closures last year, the latest data from PwC indicates a more positive outlook for the sector, with the rate of closures slowing compared to 2023, when 14,801 stores shut their doors.
While closures outpaced new openings, the retail landscape saw signs of resilience, with 9,002 new shops launching across high streets, retail parks, and shopping centres. Coffee shops and convenience stores were among the key drivers of growth, with a net increase of 171 convenience stores and 105 new coffee outlets, particularly in drive-through and out-of-town locations.
Jacqueline Windsor, head of retail at PwC UK, said the figures indicate “a cautious optimism” for 2025, suggesting consumer spending remains steady despite ongoing economic pressures.
The biggest losses were seen in the banking sector, where a net 396 branches closed as financial services moved further online. Pubs also suffered, with 561 chain pub closures recorded last year—though around half of these later reopened under independent ownership or as smaller chains.
Zelf Hussain, restructuring partner at PwC UK, warned that challenges remain, particularly with payroll costs and business rates set to rise in April. “Retailers continue to face significant challenges in 2025,” he said.
Over the past decade, Britain’s high streets have lost nearly 30% of their retail outlets, while shopping centres have seen a 25% decline. Despite the slowdown in closures last year, the retail sector remains under pressure, with many businesses still adapting to changing consumer habits and rising operational costs.
Read more:
Britain’s high streets saw 35 shop closures a day in 2024

Polaron, a spin-out from Imperial College London, has developed a groundbreaking AI solution that reduces the time needed to create advanced materials—from years to mere days.
This innovation could transform the production of materials used in wind turbines, electric vehicle batteries, and infrastructure, supporting the UK’s push for economic growth and net-zero targets.
Polaron’s AI technology analyses microstructural images—microscopic features of a material visible under a microscope—to rapidly predict how materials will perform. By enabling manufacturers to develop stronger, lighter, and more efficient materials, the breakthrough has the potential to accelerate clean energy and transport innovation while cutting costs and boosting sustainability.
Announcing Polaron as the winner, Secretary of State Peter Kyle said: “Polaron exemplifies the promise of AI and shows how, through our Plan for Change, we are putting AI innovation at the forefront.
“AI could generate £400 billion for our economy over the next five years, and supporting trailblazing companies like Polaron is essential to achieving that vision.
“Technologies like these will help us meet our net zero targets while creating new jobs and opportunities for working people. Our commitment is clear—we are fully embracing AI to drive growth, improve public services, and position the UK as a global leader in AI innovation.”
The Manchester Prize was launched in December 2023 by the Department for Science, Innovation, and Technology, in partnership with Challenge Works. It recognises AI solutions addressing major societal challenges, with the first round focused on energy, environment, and infrastructure. Nearly 300 teams competed for the award, with ten finalists each receiving £100,000 and development support before Polaron was chosen as the overall winner.
Polaron’s success aligns with the government’s new AI blueprint, which aims to harness artificial intelligence to drive a “decade of national renewal.” Business Secretary Jonathan Reynolds highlighted the importance of fostering innovation through targeted investment.
“Our Plan for Change will deliver economic growth, and for that to succeed we need to support companies such as Polaron in developing the cutting-edge materials of the future, backed by our Industrial Strategy,” Reynolds said.
“This Government is determined to embrace every opportunity that AI presents—not only to help British companies develop world-leading products but also to open up new export opportunities.”
To accelerate the adoption of game-changing technologies, the government has introduced the Regulatory Innovation Office, designed to remove bureaucratic obstacles for businesses bringing new products to market. By streamlining regulatory processes, speeding up approvals, and ensuring better coordination between regulators, the initiative aims to “bulldoze barriers to innovation” and fuel economic growth.
Following the success of the first round, the Manchester Prize has now launched its second phase, focused on AI for Clean Energy Systems. The ten finalists set to receive £100,000 will be announced this spring, with the final winner securing a further £1 million to support their innovation.
As AI continues to reshape industries, breakthroughs like Polaron’s highlight the potential of British innovation to drive technological advancements with global impact.
Read more:
British start-up wins £1m AI prize for breakthrough slashing materials development from years to days

Blake Morgan has been appointed to all 14 lots of the Welsh Government Commercial Delivery (WGCD) Solicitors Services Framework, making it the only law firm to achieve this distinction.
The appointment cements the firm’s role as a key legal partner to the Welsh public sector, providing expert legal services across a broad range of specialisms for the next four years.
Strengthening legal support for the welsh public sector
The WGCD framework is a vital procurement tool, enabling the Welsh Government and public sector bodies to access high-quality legal advice efficiently. Blake Morgan’s appointment ensures expert legal support across critical areas, including:
• Employment and education law
• Planning and environmental law
• IT, commercial contracts, and procurement
• Public administration and governance
• Social services and civil litigation
Covering both South and North Wales, as well as central Welsh Government advisory work, the framework will help shape legal decision-making for public sector organisations across the country.
Achieving full marks in key quality criteria
Blake Morgan secured its place following an extensive evaluation process, achieving full marks across three key quality areas:
Training and development – Recognising the firm’s investment in its lawyers to ensure the highest standard of service.
Technology and innovation – Showcasing the firm’s use of cutting-edge legal technology, including AI-driven efficiencies, to streamline legal processes.
Understanding of Welsh legislation – Demonstrating expertise in Welsh law and the ability to deliver fully bilinguallegal services in both Welsh and English.
In addition, Blake Morgan achieved full technical marks in 12 of the 14 lots, reinforcing its trusted reputation as a public sector legal adviser.
Penri Desscan, Partner and WGCD Relationship Partner at Blake Morgan, expressed pride in the firm’s achievement: “Blake Morgan has a long and proud history of serving the public sector in Wales, working alongside government bodies, local authorities, and public organisations to provide expert legal guidance. Our deep-rooted presence in Wales and extensive experience in public sector law have enabled us to build strong partnerships and deliver legal solutions supporting vital public services.
“We are immensely proud to be the only law firm appointed to all 14 lots of this important framework. It demonstrates a breadth of expertise across multiple legal disciplines and reflects our commitment to innovation, investment in technology, and deep understanding of the Welsh legal landscape.
“This appointment reinforces our dedication to supporting the Welsh Government and other public sector bodies, and we look forward to delivering expert legal guidance that helps them achieve their objectives.”
Specialist leadership across all 14 lots
Blake Morgan’s team of highly experienced legal specialists will lead each lot, bringing in-depth expertise to their respective areas:
• Adult & Child Social Services – Eve Piffaretti
• Civil Litigation – Joanne Thompson
• Corporate Governance & Ethical Standards – Delme Griffiths
• Criminal Litigation – Claire Rawle
• Education Law – Matthew Smith
• Employment Law – Paula Kathrens
• Major IT & Commercial Contracts – Penri Desscan & Tomos Lewis
• Planning & Environmental Law – Sara Hanrahan
• Property Law – James Egan
• Public Administration Law – Eve Piffaretti
• Construction Law – Jo Rees
• Central Government Advice – Penri Desscan & Tomos Lewis
• Mutual Investment Models (MIM) Advice – Penri Desscan & Tomos Lewis
Blake Morgan’s unparalleled success in securing all 14 lots highlights its longstanding commitment to the Welsh public sector and continued leadership in public sector law. As the firm embarks on this new four-year framework, its expertise will play a pivotal role in shaping legal decision-making for government bodies, local authorities, and public organisations across Wales.
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Blake Morgan secures all 14 lots on Welsh government legal services framework

Santander has announced plans to close 95 branches across the UK, putting around 750 jobs at risk as the bank continues to downsize its physical presence in response to changing customer habits.
The latest round of closures will see Santander’s branch network shrink from 444 to 290 full-service branches, alongside five Work Cafés—co-working spaces designed to provide banking services and support for local businesses. The bank will also introduce new counter-free locations and reduced opening hours at selected branches.
Santander says the decision reflects the growing dominance of digital banking, with online transactions surging by 63% since 2019, while in-branch financial transactions have fallen by 61% over the same period.
Despite the move, the bank insists that 93% of the UK population will still be within 10 miles of a Santander branch. Customers affected by closures will have alternative options, including community bankers visiting local venues, high street banking hubs, and in-person services at the Post Office.
A Santander UK spokesperson said: “Our new combination of full-service branches, Work Cafés, counter-free branches, and reduced-hours locations aims to provide the right balance between digital banking and face-to-face support.
“Closing a branch is always a very difficult decision, and we carefully consider the impact on customers and employees before making such moves.”
Alongside closures, Santander is investing millions into upgrading its remaining branches, with 99 locations already refurbished in the past two years and another 50 set for improvements in 2025. Upgraded branches will include digital self-service rooms, allowing customers greater privacy and easier access to banking services.
Santander is also enhancing its mobile banking app, chat service, and telephone banking to ensure customers can access services remotely.
The closures come as a fresh blow to in-person banking, with concerns mounting over the accessibility of banking services—particularly for elderly and vulnerable customers.
Santander’s restructuring also puts 750 jobs at risk, with affected employees facing redundancy or potential redeployment within the company.
In response to the shift, Santander has expanded its Work Café concept, offering free co-working spaces with superfast WiFi and event facilities to support local businesses. Two new locations have recently opened, with another set to be announced soon.
List of branch closures and service changes
June Closures
June 14 – Colne
June 16 – Clacton, Croydon, Gateshead Metro, Launceston, Peterhead
June 17 – Arbroath, Kilburn, Louth, Torquay
June 18 – Kidderminster
June 23 – Blackwood, Dungannon, Eltham, Glasgow MX
June 24 – Aberdare, Glasgow LDHQ, Greenford, Magherafelt
June 25 – Brecon
June 30 – Fleet, Musselburgh, Portadown, Swadlincote
July Closures
July 1 – Armagh, Borehamwood, Market Harborough
July 2 – Malvern
July 5 – Blyth, Canvey Island
July 7 – Caernarfon, Camborne, Cumbernauld, Ruislip, Tenterden
July 8 – Didsbury, Herne Bay, St Austell, Tottenham
July 11 – Brixton, Formby, Sidcup
July 14 – Bognor Regis, Holloway, Honiton, Plympton
July 15 – Exmouth, Hackney, Rawtenstall, Seaford
July 16 – Felixstowe
July 21 – Falmouth, Saltcoats
July 22 – Kirkby
July 23 – Crowborough, Shaftesbury, Strabane
July 24 – Colwyn Bay, Hawick
July 28 – New Milton, Pudsey
July 29 – Farnham, Hertford
July 30 – Ross-On-Wye, St Neots
July 31 – Stokesley
August Closures
August 5 – Blyth, Canvey Island, Rustington
August 6 – Downpatrick, Finchley, Whitley Bay
August 11 – Edgware Road
August 12 – Holywell
August 13 – Holywell, Willerby
August 14 – Plympton
Closures with Dates to Be Announced
Wishaw
Bexhill
Billericay
Dover
Droitwich
Dunstable
East Grinstead
Holyhead
Ilkley
Larne
Lytham St Annes
Maldon
Morley
North Walsham
Redcar
Saffron Walden
Turriff
Uckfield
Urmston
Counter-Free Branches (Effective Dates)
June 16 – Abingdon, Accrington, Stirling
June 23 – Eastleigh, Edgware, Neath
June 30 – Bromsgrove, Northwich, Sittingbourne, Streatham
July 7 – Bracknell
July 14 – Hartlepool, Nuneaton
August 4 – Gravesend, Liverpool AR
Reduced Hours Branches (Effective June 30, 2025)
Alton – Tuesday & Thursday 9:30am to 3pm, Saturday 9:30am to 12:30pm
Banbury – Monday, Wednesday & Friday 9:30am to 3pm
Barry – Monday, Wednesday & Friday 9:30am to 3pm
Beeston – Tuesday & Thursday 9:30am to 3pm, Saturday 9:30am to 12:30pm
Bicester – Tuesday & Thursday 9:30am to 3pm, Saturday 9:30am to 12:30pm
Braintree – Tuesday & Thursday 9:30am to 3pm, Saturday 9:30am to 12:30pm
Bury St Edmunds – Monday, Wednesday & Friday 9:30am to 3pm
Caerphilly – Tuesday & Thursday 9:30am to 3pm
Chippenham – Tuesday & Thursday 9:30am to 3pm, Saturday 9:30am to 12:30pm
Cirencester – Tuesday & Thursday 9:30am to 3pm, Saturday 9:30am to 12:30pm
Cricklewood – Monday, Wednesday & Friday 9:30am to 3pm
Durham – Tuesday & Thursday 9:30am to 3pm, Saturday 9:30am to 12:30pm
Ely – Tuesday & Thursday 9:30am to 3pm, Saturday 9:30am to 12:30pm
Grantham – Tuesday & Thursday 9:30am to 3pm, Saturday 9:30am to 12:30pm
Great Yarmouth – Monday, Wednesday & Friday 9:30am to 3pm
Harlesden – Tuesday & Thursday 9:30am to 3pm, Saturday 9:30am to 12:30pm
Hitchin – Monday, Wednesday & Friday 9:30am to 3pm
Irvine – Tuesday & Thursday 9:30am to 3pm, Saturday 9:30am to 12:30pm
Kendal – Monday, Wednesday & Friday 9:30am to 3pm
Kettering – Tuesday & Thursday 9:30am to 3pm, Saturday 9:30am to 12:30pm
Kilmarnock – Monday, Wednesday & Friday 9:30am to 3pm
Lowestoft – Tuesday & Thursday 9:30am to 3pm, Saturday 9:30am to 12:30pm
Newark – Monday, Wednesday & Friday 9:30am to 3pm
Penrith – Tuesday & Thursday 9:30am to 3pm, Saturday 9:30am to 12:30pm
Petersfield – Monday, Wednesday & Friday 9:30am to 3pm
Read more:
Santander to close nearly 100 branches, putting 750 jobs at risk

The UK government’s decision to integrate artificial intelligence into public sector operations has raised concerns over potential job losses, particularly within the civil service. However, leading software consultancy Scott Logic has argued that the adoption of AI will drive efficiency and open up new opportunities rather than eliminate roles.
The civil service workforce has expanded significantly in recent years, now exceeding 540,000 employees. Much of this growth has been attributed to the creation of taskforces for Brexit and Covid-19, as well as a response to long-term underinvestment in technology. According to Scott Logic, AI can help rebalance workloads by handling complex and repetitive administrative tasks, such as managing global compliance requirements. This, in turn, would free up civil servants to focus on delivering meaningful change in critical areas.
Stephen Foreshew-Cain, CEO of Scott Logic and former Executive Director of Government Digital Services, dismissed fears that AI would replace public sector workers. He likened the latest concerns to past anxieties about technological advancements, recalling how human couriers were once employed to deliver paper memos before the invention of the telephone.
“The Government is correct to embrace new technologies—including AI—to make public services more efficient,” he said. “The UK trails behind most major nations in productivity, and the adoption of AI to expedite currently manual, repetitive processes will help to rectify that. But rather than stealing civil service jobs, AI will likely open up new roles requiring human expertise, particularly in implementation and oversight. If anything, AI is set to create new positions, as seen with the planned recruitment of 2,000 new TechTrack apprentices.”
As AI becomes more embedded in government operations, the demand for expertise in areas such as data quality management, security and privacy protection, system auditing, and bias detection is expected to rise. Foreshew-Cain suggested that civil servants will play a key role in determining how AI should be applied, particularly in high-stakes decision-making processes where human oversight remains essential.
“AI literacy within the civil service will grow, and public sector workers will be key in judging which tasks AI can enhance and where human oversight remains essential. For instance, it may never be possible to fully derisk generative AI for certain high-stakes tasks, at least in its current form,” he added.
Beyond improving productivity, AI is also set to transform how government employees innovate and implement change. One emerging trend is ‘vibe coding,’ where non-technical professionals use AI-driven tools to generate code through natural language prompts. This could allow civil servants to create and test prototypes far more quickly, with architects refining and implementing their ideas.
“The ability to transform concepts into action more quickly is a game-changer for the civil service,” Foreshew-Cain said. “AI’s potential to streamline processes and empower professionals to innovate faster is an underappreciated aspect of its adoption. By investing in AI, the government is not just improving efficiency but reshaping how public services are delivered.”
His comments come as the government presses ahead with its AI efficiency drive, a move that could redefine the structure of the civil service in the years ahead. While critics warn of potential job losses, supporters argue that AI represents a natural evolution in workplace technology—one that will create as many opportunities as it disrupts.
Read more:
Government’s AI investment will create opportunities, not job losses, says tech leader

Jonathan Reynolds will urge Donald Trump’s administration to exempt British steel from punitive tariffs as he embarks on high-stakes trade negotiations in Washington.
On Tuesday, the Business Secretary will become the first UK minister to hold direct talks with the new Trump administration, aiming to secure crucial exemptions from the US president’s global tariff regime.
Mr Reynolds is set to meet Howard Lutnick, the US Commerce Secretary, and Jamieson Greer, the US Trade Representative, to explore a broader economic deal between Britain and America—one that he hopes will include relief for the UK’s steel industry.
His visit follows Mr Trump’s recent decision to impose 25% tariffs on all steel and aluminium imports, with a promise of further “reciprocal” tariffs taking effect from 2 April. The White House has also announced plans to factor local VAT charges into its calculations for these tariffs—a move that could hit UK exports hard, given Britain’s 20% VAT rate.
A fight to protect UK industry
Mr Reynolds has pledged to raise the steel tariffs issue during his discussions with Trump officials, emphasising the importance of safeguarding British industries.
“Protecting and growing the industries that power the UK and play a key role in delivering our Plan for Change is a priority for this Government,” he said. “Today’s visit to Washington DC is the latest step in our pragmatic and positive engagement with the new administration to agree a wider economic deal in both our interests.”
Sir Keir Starmer has so far resisted calls to impose retaliatory tariffs on US goods but has not ruled out such measures. A spokesperson for the Prime Minister said: “When it comes to global tariffs, we’re assessing all options. As the Prime Minister said last week, we’re keeping all options on the table, but we’re going to take a pragmatic approach to this, and we’ll be continuing discussions.
“As many in industry have said, they do not want to see an escalating trade war. Standing up for UK business means finding a solution, not exacerbating tensions.”
Gareth Stace, director general of UK Steel, reinforced the urgency of securing exemptions, stating: “The UK is a close ally of the US, not a foe. Securing a full exemption from these tariffs must be a priority. The focus should be on working together to find solutions, not creating new barriers. That is the message we urge Jonathan Reynolds to take with him to Washington.”
Trade experts warn that achieving a deal may require significant UK concessions.
David Henig, director of the UK Trade Policy Project, said: “The real problem is that we don’t actually know what the US wants. I don’t think the Government knows exactly what the deal might be.”
US officials have hinted at demands in multiple areas, including VAT charges, Britain’s £700m digital services tax, artificial intelligence regulations, and food production standards.
Potential changes to food import rules—such as allowing chlorine-washed chicken, previously a red line for UK negotiators—would likely face fierce opposition from farmers, particularly in the wake of Chancellor Rachel Reeves’s recent inheritance tax relief reforms on agricultural land.
“Politically, it would look terrible. The Government said they wouldn’t do it, and I just don’t see how any government could,” said Mr Henig.
He suggested that the most politically viable concession might be loosening regulations on artificial intelligence, a move that could be framed as an economic growth strategy rather than a direct trade-off.
The urgency of securing a deal was underscored by fresh OECD forecasts on Monday, which downgraded the UK’s economic growth projections.
The Paris-based organisation revised its GDP growth forecast for Britain to 1.4% this year and 1.2% in 2026, down from previous estimates of 1.7% and 1.3%. The OECD cited Trump’s trade war as a factor exacerbating economic uncertainty worldwide.
As Mr Reynolds begins negotiations in Washington, the stakes are high—not just for Britain’s steel industry, but for the wider UK economy’s ability to navigate an increasingly protectionist global trade landscape.
Read more:
Jonathan Reynolds to push for UK steel tariff exemption in Washington talks

The pound has surged to a four-month high against the US dollar as concerns over Donald Trump’s escalating trade war spark fears of an American recession.
Sterling edged up by 0.1% on Tuesday, surpassing the $1.30 threshold for the first time since November, as the US president’s hardline stance on tariffs unnerved global markets.
US Treasury Secretary Scott Bessent fuelled uncertainty over the weekend, cautioning that there were “no guarantees” the United States could avoid an economic downturn. However, he later sought to reassure investors by stating that the underlying economy remained “healthy.”
On Monday, Mr Trump doubled down on his trade policies, pledging no exemptions for his metal tariffs and reaffirming a commitment to broad-based reciprocal tariffs set to take effect from 2 April.
The turmoil has left central banks on both sides of the Atlantic in wait-and-see mode, with analysts expecting the Bank of England and the US Federal Reserve to hold interest rates steady at their upcoming meetings.
Market analysts suggest that sterling’s resilience may also stem from expectations that the UK will be less exposed to the fallout from Trump’s tariff battles.
Jane Foley, senior FX strategist at Rabobank, noted: “US data indicates a modest trade surplus with the UK, though British figures suggest the opposite. Trump’s steel and aluminium tariffs are unlikely to significantly impact the UK economy, and Sir Keir Starmer is maintaining a pragmatic stance, keeping his options open for potential negotiations.”
Meanwhile, global investors are shifting away from US assets in record numbers. According to the latest Bank of America fund manager survey, the mass exodus from US equities has been the largest on record, as traders seek safer ground in European and British markets.
Harald Berlinicke, partner at Sarnia Asset Management, said: “The market’s response reflects growing frustration with Trump’s tariff drama. UK stocks have benefitted from sterling’s strength and the dollar’s decline.”
This flight to European equities has pushed fund managers’ investments in eurozone companies to their highest levels since July 2021, the survey found.
US tech stocks take the biggest hit
The sell-off has been particularly brutal for American technology stocks, which had been at the forefront of the recent bull market. The S&P 500 has slumped more than 7% over the past month, with tech giants experiencing some of the steepest losses.
Nvidia, the microchip powerhouse, has seen its share price tumble 14% in the past month, while Palantir Technologies, the AI-driven software firm co-founded by Peter Thiel, has plunged by 30%.
Bank of America has labelled the current downturn a “bull crash,” noting that investor sentiment towards the US economy is at its lowest since November 2023.
Bruno Schneller, managing partner at Erlen Capital Management, warned that fears of stagflation and deepening trade tensions have shaken confidence in “American exceptionalism,” a belief that had underpinned the previous stock market rally.
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Pound hits four-month high as Trump’s tariff war rattles markets

Chancellor Rachel Reeves is wert to meet with senior representatives from eight key regulatory bodies on today, seeking to strip away bureaucracy and accelerate economic growth in the face of fresh warnings about the UK’s outlook.
The Organisation for Economic Co-operation and Development (OECD) has cut its forecasts for Britain in 2025 and 2026, citing the escalating global trade conflict and dampening prospects for a near-term recovery.
Reeves has identified growth as the government’s top priority, yet recent criticism from Conservative voices accuses Labour of stifling business expansion through higher taxes. According to the OECD, the UK economy will grow by 1.4 per cent in 2025, down from an earlier projection of 1.7 per cent, and 1.2 per cent in 2026, revised from 1.3 per cent. These figures, though muted, are still more optimistic than the Bank of England’s own estimates, which predict a 0.75 per cent rise in 2025.
The Chancellor argues that cutting red tape is essential for boosting investment, creating jobs, and easing pressure on household finances—particularly after the economy unexpectedly shrank by 0.1 per cent in January, driven largely by weaknesses in manufacturing. Her latest move follows the recent abolition of NHS England, formerly one of the world’s largest quasi-autonomous non-governmental organisations, and the announcement that more bodies could be merged or closed.
On Monday, Reeves is expected to outline a strategy that would streamline environmental regulations for major infrastructure projects, such as the Lower Thames Crossing and a possible Heathrow expansion, and do away with lengthy guidance on issues like bat protection for low-impact developments. The Environment Agency and Natural England will be among those tasked with fine-tuning environmental rules, while some minor or temporary schemes could soon be exempt from requiring permits.
Other steps include consolidating regulatory agencies themselves. The Payments Systems Regulator is already set to be absorbed by the Financial Conduct Authority, and the Regulator for Community Interest Companies will be folded into Companies House. Reeves has pledged to “significantly” reduce the overall number of regulators before the current Parliament ends, a goal welcomed by business leaders who say complex and overlapping regulations have long hampered economic activity.
Her meeting with regulators coincides with 60 newly agreed measures intended to simplify operations for firms across the UK. These range from fast-tracking medicine approvals to reviewing the £100 limit on contactless payments, and from streamlining mortgage lending rules to enabling more drone-delivery trials—something the Civil Aviation Authority says has already cut journey times for urgent hospital supplies from 30 minutes to just two.
Still, Shadow Chancellor Mel Stride contends that Labour’s tax policies and what he calls “trade union red tape” are holding the economy back. With Reeves’s emergency budget scheduled to be unveiled in just nine days, he is urging her to present what he terms a “real plan for growth.”
Among industry voices, Mark Allan, chief executive of commercial property firm Landsec, believes the government is on the right track but warns results will take time. “We’ve had regulation piled on top of regulation for years,” he says, “so while these changes are very positive, it could be three years rather than three months before we see the real benefits.”
Read more:
Reeves meets regulators to tackle red tape as growth forecasts cut again