Here are 5 important things happening in the UK today – 14 July 2025.
- Cuts to red tape will bring trickle-down benefits to households: Rachel Reeves will claim that cutting red tape for City firms will have trickle-down benefits for households across Britain, as she tries to drum up support for a new financial services strategy. A raft of regulatory reforms is due to be announced by the chancellor on Tuesday, in what the Treasury says will be the biggest financial regulation reforms in a decade. [Guardian]
- UK Wealth Tax given ‘zero chance’: Labour proponents of raising more money from Britain’s richest people have long circulated a report by the UK Wealth Tax Commission as proof it can be done. But one of the report’s authors says he can’t see it happening fast enough to help Chancellor of the Exchequer Rachel Reeves. “There’s zero chance they will introduce a wealth tax in the next budget,” Andy Summers, associate professor at the London School of Economics, told Bloomberg. [Bloomberg]
- Reform UK’s ‘Doge’ unit in fight over data: Several councils run by Reform UK have resisted efforts by the party’s Elon Musk-style ‘Doge’ unit to access personal and commercially sensitive data, slowing the progress of the highly controversial cost-cutting drive. Senior lawyers and data handlers at some Reform-run councils in England have so far blocked access to sensitive information by unelected volunteers running the party’s so-called Department of Government Efficiency, according to people briefed on the situation. [Financial Times]
- More than a million people to be affected by new hosepipe ban: Temperatures have cooled as the UK’s third heatwave of this year comes to an end, while a new hosepipe ban affecting 1.1 million people has been announced. Thames Water said a hosepipe ban was due to start on 22 July in Swindon, Gloucestershire, Oxfordshire and parts of Berkshire because of a lack of rain and increasing demand, which had stretched supplies. [BBC]
- On Tuesday, Oil was trading lower at $69.08. The pound was trading at £1.34 to the dollar, £1.15 to the euro and £9.63 to the yuan.
Leave a Reply