5 important things happening in the UK today

Here are 5 important things happening in the UK today – 14 July 2025.

Bank of England prepared to cut rates if job market slows: The Bank of England is prepared to make larger interest rate cuts if the job market shows signs of slowing down, its governor has said. Governor Andrew Bailey said the UK’s economy was growing behind its potential, opening up “slack” that would help to bring down inflation. Interest rates currently stand at 4.25% and will be reviewed at the Bank’s next meeting on 7 August. [BBC]

Call for changes to how pubs are taxed: The boss of the pub chain Greene King has called for changes to business rates to remedy “unfairness” that he said added to financial pressures on the struggling pubs industry. Nick Mackenzie, Greene King’s CEO, said the business rates system of property taxes should be changed to a tax on profits. [Guardian]
Reeves to launch ‘concierge service’: Chancellor Rachel Reeves is set to launch a “concierge service” to smooth the way for international financial services companies moving to and expanding in the UK, part of her efforts to boost the City of London. Reeves will use her Mansion House speech this week to set up a ‘single front door’ for investors, helping them to navigate issues such as visas and regulation, in recognition that Britain is locked in a fierce battle for business. [Financial Times]
Middle-class workers face looming tax raid: Middle-class workers will face higher taxes later this year, a Cabinet minister has suggested. Heidi Alexander, the Transport Secretary, said the Government had promised not to increase taxes for ‘people on modest incomes’, and that Labour would base its policy on the ‘principle of fairness’. Ministers have already hinted that Rachel Reeves, the Chancellor, is considering wealth taxes in her autumn Budget to fill a black hole worth tens of billions. [Telegraph]