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JCB, the renowned Staffordshire-based manufacturer of heavy machinery, has reported a significant surge in profits despite a global slowdown in the machinery sector.
The company posted a 44% increase in pre-tax profits, reaching £806 million last year, up from £558 million in 2022. Revenue also saw an impressive 14% rise, totalling £6.5 billion, as machine sales soared to 123,228 units, compared to 105,148 the previous year.
While the global construction and agricultural machinery market contracted by 4.3%, JCB defied the trend and remained debt-free, marking it as one of the UK’s top-performing manufacturers. The company’s growth was particularly strong in North America, its largest market, and India, while it gained market share in the UK despite a flat performance domestically.
Graeme Macdonald, JCB’s CEO, acknowledged challenging conditions in the UK and Europe, particularly in Germany, where economic activity had sharply declined. The slowdown in UK housebuilding had also affected machine utilisation rates. However, the company’s focus on innovation, including its new JCB Pothole Pro and ongoing development of hydrogen combustion engines, has positioned it for future growth.
Founded in 1945, JCB is chaired by Lord Bamford and employs 15,000 people globally, with manufacturing operations across four continents.
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JCB boosts profits despite global market downturn

GMB, one of the UK’s largest trade unions, is urging the government to favour businesses that recognise trade unions when awarding public contracts.
The call comes after revelations that Amazon secured £1 billion in government contracts despite allegations of “union-busting” practices.
At the Labour Party conference today, GMB will push for companies that recognise trade unions and allow unions to engage with their workers on recognition to receive preferential treatment in public procurement processes.
This follows a narrowly missed vote at Amazon’s Coventry distribution centre in July, where workers came within 28 votes of becoming the first site outside the US to compel Amazon to negotiate union terms. GMB is now mounting a legal challenge against Amazon, accusing the company of pressuring employees to revoke their union membership, making it harder to reach the threshold for union recognition. Amazon has denied the claims.
Most of the £1.04 billion in contracts awarded to Amazon last year were for cloud services, according to data from Tussell, analysed by GMB. Gary Smith, GMB’s general secretary, stated that if Amazon is to continue receiving such lucrative government contracts, it must start treating its workers with respect, which includes fair pay and better working conditions.
The Labour government has pledged to simplify union recognition procedures and give workers more rights, aiming to create a more balanced power dynamic between employers and unions. Current rules prevent unions from reapplying for statutory recognition for three years if they fail to meet the required vote threshold.
Amazon responded by saying that employees have always had the choice to join or not join a union and that direct engagement with workers is a key part of the company’s culture.
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GMB calls for government to prioritise union-friendly firms in public contracts

The pace of economic growth in the UK slowed in September, as concerns about the government’s upcoming budget weighed on business activity, according to a preliminary estimate from the widely tracked PMI (Purchasing Managers’ Index).
The UK PMI “flash” composite output index, which measures business activity in both the services and manufacturing sectors, slipped to 52.9 in September from 53.8 in August, falling short of the consensus forecast of 53.5. Although the figure remains above the 50-point threshold, indicating continued growth, it reflects a deceleration in the pace of recovery.
The PMI, compiled by S&P Global from a survey of 1,300 firms, highlighted that businesses are increasingly adopting a “wait and see” approach in the lead-up to Chancellor Rachel Reeves’ budget announcement on October 30. Some companies have paused investment and recruitment decisions until fiscal policies are clarified.
Chris Williamson, chief economist at S&P Global Market Intelligence, noted that while business optimism had risen, uncertainty about the budget was “jangling nerves,” particularly in the manufacturing sector. “Investment plans have been put on hold, and hiring has slowed as businesses await clarity on government policies, especially taxation,” he said.
Both services and manufacturing sectors experienced a slower pace of growth than in August, with new business tempered by fragile client confidence and a reduction in inventory levels. However, Williamson was optimistic, stating that the data suggested a “soft landing” for the UK economy and that inflation pressures appeared to be easing without triggering a downturn.
While costs faced by businesses rose in September, breaking a 45-month low recorded in August, the rate at which companies raised prices was the slowest since February 2021, hinting that inflationary pressures may be under control.
Despite the slowdown, Alex Kerr from Capital Economics said the dip in the PMI was not indicative of a looming downturn. He expects the Bank of England to make one more cut to the base rate this year, following the reduction from 5.25% to 5% in August, with further cuts expected in 2024.
The final PMI report, based on more complete data, may revise these initial estimates.
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UK economic growth slows amid uncertainty over upcoming budget

South Yorkshire is set to host Britain’s first factory dedicated to building small modular reactors (SMRs), marking a significant boost for the region’s economy and the UK’s nuclear industry.
Holtec, a privately owned nuclear company headquartered in Florida, has chosen South Yorkshire as its preferred location for the £1.5 billion facility after considering sites across the country, including in the West Midlands, Cumbria, and Teesside.
The factory could create up to 3,000 high-tech jobs, manufacturing components for SMRs—a technology that could become central to the UK’s planned nuclear revival. Holtec is exploring several sites in the county, including areas around the city of Doncaster.
Gareth Thomas, Director of Holtec Britain, said: “Holtec Britain was impressed by the resounding interest in our new SMR factory across the UK and the strong support received by the local authorities during our engagements. South Yorkshire overcame stiff competition from other areas of the UK to be our preferred location for our advanced SMR factory.”
The region offers practical benefits for Holtec, including proximity to Sheffield Forgemasters, a specialist in complex castings required for reactor housings, and a skilled workforce rooted in heavy engineering traditions.
Oliver Coppard, South Yorkshire Mayor, commented: “In South Yorkshire, we’re building on hundreds of years of innovation and engineering heritage to create world-leading facilities, skills, and expertise today; assets that will power the clean energy transition in the UK and beyond. We are right at the cutting edge of the new nuclear, hydrogen, and sustainable aviation sectors, and proud to be home to the largest cleantech sector in the UK.”
SMRs are seen as a potential breakthrough in nuclear technology, aiming to reduce the cost and construction time of nuclear power plants. Unlike large reactors built on-site from scratch, SMRs are constructed from modules manufactured in factories and assembled on-site, which proponents say will make them cheaper and quicker to produce at scale.
Holtec is one of five companies vying for government funding to build the country’s first SMRs, alongside Rolls-Royce, Westinghouse, GE Hitachi, and NuScale. Great British Nuclear, the government agency overseeing the competition, is expected to narrow the shortlist from five to four companies later this month. Two winners are anticipated to be selected either late this year or in early 2025 and will be granted sites to develop.
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South Yorkshire selected for £1.5bn mini-nuclear reactor factory, creating 3,000 jobs

Middle-class homeowners across the UK are postponing their kitchen renovation plans as fears mount over potential tax hikes in the forthcoming October Budget.
The possibility of higher taxes, signalled by shadow chancellor Rachel Reeves, has led to a marked decline in consumer confidence, according to kitchen retailers.
Jamie Everett, co-founder of bespoke kitchen manufacturer Naked Kitchens, noted a sharp drop in orders after a strong start to the year. He said: “In September, it’s like somebody just turned the tap off. The Budget is the big roadblock right now.”
Many customers are adopting a wait-and-see approach, concerned that tax increases could impact their disposable income. Kitchen retailers such as Thomas Matthew in Dorset report that some customers have explicitly stated they are waiting for the Budget before proceeding with orders.
The uncertainty has had a knock-on effect on consumer confidence across the wider home improvement sector. According to GfK’s consumer confidence index, there has been a notable drop in sentiment, plunging seven points in September to -20, indicating that households are feeling less secure about their finances.
Retailers are also grappling with the aftershocks of supply chain disruptions and rising costs from recent years. Vince Gunn, CEO of Harvey Jones, observed that the positioning of the Budget has further diluted consumer confidence, despite a relatively positive economic outlook earlier in the year.
Nick Glynne, CEO of Buy It Direct Group, which sells large home items such as appliances and furniture, echoed these concerns, citing a 9% decline in website traffic following public discussions about potential tax increases. “We’re dependent on excess cash,” Glynne said, emphasising the impact that fiscal uncertainty is having on high-ticket purchases like kitchens.
As the sector waits for clarity in the autumn Budget, kitchen retailers remain cautious, with many anticipating that a difficult market may persist for up to six months if significant tax hikes are introduced. The potential strain on consumer spending could further exacerbate challenges for businesses already on the edge following years of economic turbulence.
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Middle-class homeowners put kitchen renovations on hold over fears of tax hikes in autumn budget

It’s a warm, sunny day on Slough Trading Estate, where enormous grey warehouses dominate the skyline. But inside one of these unassuming buildings, the future is unfolding.
At Equinix’s LD6 data centre, Mike Oxborrow, senior sales engineer, demonstrates the high-security measures required for entry, including biometric scans. Once through the airlock, known as a “man trap”, visitors are greeted by spotless corridors lined with server-filled cages, their fans working overtime to cool the hardware.
This facility is just one of six Equinix sites in the town, a crucial hub for some of London’s financial institutions. The demand for data centres is surging, driven by the exponential growth of AI and cloud computing. With the UK government recently designating data centres as “national critical infrastructure”, these vast facilities are becoming more essential than ever.
“The boom is already here,” says Harro Beusker, CEO of nLighten, a data centre developer. “Over the last 25 years, IT has grown more important, and now companies are investing more, even beyond economic cycles.”
This month, Amazon announced an £8 billion data centre investment in the UK, promising 14,000 new jobs. Meanwhile, Global Infrastructure Partners and Microsoft have launched a $30 billion global fund to support AI-driven data centre projects. Investors, lured by the high capital requirements and substantial barriers to entry, are eager to capitalise on this rapidly expanding sector.
Data centres are no longer just urban phenomena. Regional hubs are gaining traction, with Newcastle emerging as a hotspot. Firms like Stellium are building data centres there, capitalising on lower land and staffing costs while remaining connected to undersea fibre-optic cables. AI may make these regional centres even more viable, as it is less dependent on the low-latency demands of traditional cloud computing.
Despite the optimism, challenges remain. Data centres are power-hungry operations, with their electricity needs set to increase six-fold over the next decade. As the industry scales up, balancing energy demands with sustainability goals is a critical issue.
The future is not without its uncertainties, but what is clear is that the UK is at the forefront of a data centre revolution. From Slough to Newcastle, these facilities are driving technological change, creating regional job opportunities, and prompting major infrastructure investments across the country.
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The rise of AI-fuelled data centres set to transform UK regions

Companies may soon be required to offer regular contracts to workers on zero-hours agreements after just three months, under proposed reforms being discussed by the Labour Government.
Deputy Prime Minister Angela Rayner and Business Secretary Jonathan Reynolds informed business leaders and unions in a private meeting that new legislation could oblige employers to offer zero-hours staff a regular contract with guaranteed hours after 12 weeks. The move is part of Labour’s wider push to end “exploitative” employment practices, though details are still being finalised ahead of the unveiling of the employment rights bill next month.
The three-month threshold follows the example set by McDonald’s, which in 2017 gave staff the option to switch to contracts with minimum guaranteed hours. Most employees chose to remain on flexible terms, but the initiative has been cited as a model for balancing worker protections with business needs.
Sources involved in the discussions said opinions were split, with some business leaders suggesting a longer qualifying period and union representatives advocating for a shorter time frame. A Whitehall insider explained that the three-month proposal was designed to prompt clearer responses from businesses, with further details to be developed later.
Labour has pledged to clamp down on “one-sided flexibility” in the workplace. Proposals include requiring employers to compensate staff for late-notice shift cancellations, preventing workers from being financially disadvantaged when shifts are dropped last-minute. While Labour originally considered a full ban on zero-hours contracts, it has backed away from this after resistance from businesses, particularly in the hospitality and leisure sectors, which argue that the contracts offer valuable flexibility for both workers and employers.
The discussion over zero-hours contracts is part of Labour’s promise to deliver the largest overhaul of workers’ rights in decades. However, business leaders have expressed concern about the potential costs of the reforms. The Confederation of British Industry (CBI) reported that only 26 per cent of businesses feel confident they can absorb the financial impact without harming growth, investment, or jobs.
Tensions have also emerged within the Government over how to handle probation periods in the new system. Rayner is pushing for full employment rights from day one, after a short probation, while Reynolds reportedly favours a longer probation period, potentially lasting up to nine months.
The Government’s flagship employment rights bill is expected to be unveiled in the coming weeks, as ministers work to reconcile business concerns with their commitment to improving worker protections.
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Zero-hours contract crackdown: staff could be offered fixed hours after three months

Bramley, a picturesque Surrey village, has found itself the unfortunate poster child for a modern malady plaguing Britain: the disappearance of accountability.
What began as a mysterious stench in a pub’s cellar has morphed into a full-blown ecological and bureaucratic disaster, with petrol seeping into the earth and local authorities shrugging their shoulders. A petrol station once owned by the Co-op and now run by Asda has been leaking fuel for years, causing significant damage to the environment, residents, and their livelihoods. But the most disturbing part of the saga? No one wants to take responsibility.
To outsiders, the story of Bramley’s woes reads like a Kafkaesque nightmare. A broken pipe beneath the Asda forecourt leaked fuel into the village’s water system, contaminating supplies, killing fish, and forcing the replacement of pipes. Since May, 600 households have been unable to drink their tap water safely. Thames Water is doing what it can, but residents are left with a village scarred by constant roadworks and disrupted businesses, while their homes may now sit on a toxic petrol slick. Their concerns about property values seem to fall on deaf ears.
Asda, the petrol station’s current owner, has masterfully distanced itself, labelling the problem “historic.” The supermarket chain is now majority-owned by private equity giant TDR Capital, a fact that only compounds the sense of faceless corporate negligence. Meanwhile, Surrey County Council passes the buck to Waverley Borough Council, which claims no authority to intervene. The Environment Agency, citing an ongoing investigation, remains silent, while the UK Health Security Agency asserts that its role is “advisory rather than regulatory.”

Asda’s chairman, Lord Rose, who it was revealed this week is taking over from Mohsin Issa, told a residents’ meeting in the village there would be ‘no quick fix’.
To the residents of Bramley, this constellation of agencies, councils, and companies exists in theory to protect them. Yet, when their small village was thrust into crisis, each body pointed fingers elsewhere, leaving the villagers to face an unnerving reality: when something goes wrong, no one is prepared to take responsibility. It’s not just a localised problem, either—it’s emblematic of a much wider issue across Britain today.
This shift away from accountability is something Dan Davies explores in his book The Unaccountability Machine, which paints a bleak picture of how big systems are structured to avoid responsibility. The Kafkaesque dance of passing the buck seen in Bramley is a perfect example of what Davies terms an “accountability sink”—a place where decision-making is so fragmented that no one is ever to blame when things go wrong. Bramley has become an unwitting symbol of this modern malaise, where sprawling bureaucracies and corporations have lost the ability, or perhaps the will, to respond to human problems with anything other than indifference.
The Bramley saga is not just a freak occurrence; it is the result of a long-developing trend towards unaccountability. It’s a mindset that began in the early days of corporate structures, as limited liability allowed investors to reap the rewards of risk without bearing the full consequences of failure. Davies explains that this made sense when the risk was spread across individual shareholders, like a widow investing her savings in a railway company. However, in today’s world, it’s private equity giants and multinational corporations benefiting from these protections—shielded from blame when things go wrong.
So, what happens when the system becomes so unwieldy that the feedback loops between action and consequence break down entirely? For the residents of Bramley, it means they’re left navigating a labyrinth of agencies and authorities, none of which seem to have any real interest in fixing the problem. Companies like Asda, backed by private equity, are happy to assert that the issue predates their ownership, leaving villagers frustrated and feeling abandoned. It’s a game of pass-the-parcel with no winner, only losers.

Davies suggests that systems built to manage the complexity of the modern world often sever the direct link between decision-making and responsibility. As organisations grow and processes become more industrialised, those within them lose their sense of agency. It’s not that no one cares—it’s that they are operating in a framework designed to prevent anyone from caring. This is what Davies likens to a “decerebrate cat”—a system that can function, in a technical sense, but without the ability to respond meaningfully to real-world issues.
For the people of Bramley, this cold, dispassionate system is all too real. They face the frustration of speaking to low-level functionaries who simply lack the power or authority to take decisive action. In many ways, the problem goes beyond the specifics of the petrol leak: it speaks to a much larger crisis in our institutions and corporations, where the drive for efficiency and profit has rendered human-scale problems invisible.
What is particularly damning is the realisation that this could have been avoided if someone, somewhere, had cared enough to act sooner. In a simpler time, a leak would have been fixed, apologies made, and compensation offered. But now, even determining who owns the problem feels impossible. The residents are left in a void, where corporate interests, local government, and national agencies all pretend the matter is someone else’s to solve.
The truth is, the system has been designed to fail them. The rise of private equity ownership, the fracturing of regulatory responsibility, and the erosion of local authority power all contribute to a culture where it is easy to evade responsibility. And unless something changes, Bramley’s experience will not be unique. Other villages, towns, and cities across the country may soon find themselves entangled in similar webs of indifference and inaction.
The plight of Bramley is a warning. It shows what happens when responsibility is allowed to slip through the cracks, when systems are designed to protect organisations rather than the people they serve. If we don’t start addressing these accountability sinks, the question won’t be whether another village suffers, but how soon it happens.
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When accountability fades: The toxic reality facing Bramley and beyond

The Welsh Government is weighing the introduction of tax breaks to stem the tide of people leaving the country, particularly from rural areas, and to preserve the Welsh language.
Inspired by the Castilla-La Mancha region in Spain, where a 25 per cent income tax reduction is offered to residents in rural areas, the Commission for Welsh-speaking Communities has recommended a similar approach to boost economic and social activity in parts of Wales affected by depopulation. The commission, which was established in 2022, argues that such tax incentives could help prevent young people from leaving, which would support both the economy and the survival of the Welsh language.
A recent survey showed that 81 per cent of young people in western Wales feel the need to leave rural communities to advance their careers. Ben Lake, Plaid Cymru MP for Ceredigion Preseli, recently raised concerns in the Commons, warning that depopulation is causing a “collapse of public services” in parts of Wales.
Over 200 rural wards have seen population declines in the past decade, with many young people moving to England. To reverse this trend, the commission suggested that the Welsh Government could explore financial incentives similar to those in Castilla-La Mancha, where residents receive significant tax breaks to encourage them to stay. In Wales, such a policy would eliminate income tax for basic-rate payers and provide substantial savings for higher earners.
However, tax experts have raised concerns. Chris Etherington, of tax advisory firm RSM, noted that while tax cuts could be a motivator, there is limited evidence to show they are effective in preventing depopulation. Rachael Griffin, a tax expert at wealth manager Quilter, warned of potential “unintended consequences,” such as complications with pension tax relief and the potential for rising property prices if wealthier individuals were drawn to the area.
The Welsh Government has yet to decide on the commission’s 50 recommendations, which aim to tackle outmigration and bolster rural communities. A spokesperson said they are considering the findings and will respond in due course.
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Wales considers 25% income tax cut to tackle rural depopulation and ‘brain drain’