5 important things happening in the UK today

Here are 5 important things happening in the UK today – 3 July 2025.

Corbyn and Sultana to start new party: Ex-Labour MP Zarah Sultana has announced she is resigning from the party, saying she will be founding a new party with her former leader, Jeremy Corbyn. Sultana, the Coventry South MP stripped of the Labour whip last year for backing a move to scrap the two-child benefit cap, said the new party would be formed with other independent MPs and activists, aiming to challenge a broken Westminster system. [BBC]

Crackdown planned for UK’s property market: Housing Minister Matthew Pennycook has promised to crack down on unfair service charges and what he called the “wild west” of property managing agents as he launched the next stage of the government’s reforms of the leasehold system. Pennycook said he wanted to stop a number of unfair practices undertaken by some companies, including overcharging and imposing large, unexpected repair fees. [Guardian]

Markets rally after Starmer says Reeves to remain chancellor: UK government bonds rallied on Thursday after Sir Keir Starmer said Rachel Reeves would be chancellor for a “very long time to come” and insisted the government would stick to her fiscal rules. The Prime Minister made the pledges after he failed to back a tearful Reeves in the House of Commons on Wednesday, triggering a sharp sell-off in gilts and the pound. [Financial Times]

New windfarm rules planned: Ed Miliband has unveiled plans to make it easier for homeowners to install wind turbines in their gardens as part of a mass expansion of green power. The Energy Secretary has announced a consultation on relaxing planning rules governing the construction of turbines on residential and commercial properties. The aim is to make it easier for farmers, people living in semi-detached houses and business owners to install the machines on their land. [Telegraph]