5 important things happening in the UK today
Here are 5 important things happening in the UK today – 12 June 2025.
- UK economy shrinks more than expected: The UK economy shrank by more than expected in April as taxes increased for businesses, household bills jumped, and exports to the US plunged. The economy contracted by 0.3%, more than the 0.1% fall predicted by economists. [BBC]
- Deal agreed on Gibraltar: The UK and Spain have struck a historic deal over Gibraltar’s future, ending the long-running dispute over the territory after Brexit and easing the movement of people and goods across the border with Spain. The deal will lead to the introduction of Eurostar-style dual passport checks at Gibraltar’s airport and eliminate checks on people and goods crossing the land border between Spain and Gibraltar. [Guardian]
- UK’s wealthy are packing up shop: A Bloomberg analysis shows a big spike in departing business leaders over recent months, with more than 4,400 disclosing an overseas move in about the last year. It’s all setting the stage for the biggest exodus of wealth in the UK’s recent history as a nation that once prided itself on being a hub for the global elite risks a potentially serious — and unforced — economic own goal. [Bloomberg]
- WhatsApp joins key UK legal case: WhatsApp has joined a legal challenge against the UK government’s demand to force Apple to create a back door in its security systems, as the Meta-owned group becomes the first Big Tech company to intervene in the case.
- Reeves banking on AI to save money: Chancellor Rachel Reeves is banking on big productivity gains from the adoption of AI across the UK government to help deliver efficiency savings totalling £14 billion by the end of the parliament. [Financial Times]
- On Thursday, Oil was trading slightly lower at $66.77 a barrel. The pound was trading at £1.36 to the dollar, £1.18 to the euro and £9.75 to the yuan.
