5 important things happening in the UK today

Here are 5 important things happening in the UK today – 23 May 2025.

NHS workers threaten to strike: Ministers are bracing themselves for a potential wave of NHS strikes in England after doctors denounced pay rises of up to 5.4% this year as derisory and threatened to take action in protest. [Guardian]
Energy prices to drop in the UK: Energy bills will fall by 7% in July – the first drop for a year, energy regulator Ofgem has announced. It means a household using a typical amount of gas and electricity will see their annual bill fall by £129. [BBC]
Chagos deal to cost £30 billion: Prime Minister Keir Starmer’s deal to give away the Chagos Islands will cost the UK up to £30 billion. The Prime Minister has come under fire for ‘lying to the public’ as he announced the agreement to give the Indian Ocean island chain to Mauritius and rent back a key military base. [Telegraph]
UK consumer sentiment improves: An improved economic outlook helped UK consumer confidence rise in May, reversing most of April’s tariff-induced drop and pointing to steadier spending trends. [Financial Times]

Oil drops as OPEC+ discusses production: Oil prices fell more than 1% on Thursday following a report that OPEC+ is discussing a production increase for July, stoking concerns that any potential increase in global supply would exceed demand growth. It is currently trading at $63.86 a barrel. On Friday, the pound was trading at £1.35 to the dollar, £1.19 to the euro and £9.69 to the yuan.