Business

5 important things happening in the UK today

Ryan Brothwell 2 min read
5 important things happening in the UK today

Here are 5 important things happening in the UK today – 22 July 2025.

  • UK borrows billions more than expected as debt costs surge: UK government borrowing came in worse than forecast in June, a setback for Chancellor of the Exchequer Rachel Reeves that will fan speculation over potential tax hikes to shore up the public finances. A surge in debt-interest payments sent the budget deficit to £20.7 billion, the Office for National Statistics said on Tuesday. [Bloomberg]
  • OpenAI and UK sign deal to use AI in public services: OpenAI, the firm behind ChatGPT, has signed a deal to use artificial intelligence to increase productivity in the UK’s public services, the government has announced. The agreement signed by the firm and the science department could give OpenAI access to government data and see its software used in education, defence, security, and the justice system. [BBC]
  • Doctors to strike this week: The British Medical Association (BMA) has warned the NHS that its plan for dealing with forthcoming resident doctors’ strikes puts patient safety at risk. Up to 50,000 resident doctors in England, formerly known as junior doctors, are set to join the industrial action from 7am on Friday 25 July to 7am on Wednesday 30 July. They are demanding a 29% pay rise. [Guardian]
  • Starmer says rising unemployment is not necessarily a bad thing: Sir Keir Starmer says rising UK unemployment is a positive sign that previously inactive people are starting to look for work, countering Conservative claims that it is a consequence of his £25bn “tax on jobs”. Starmer told MPs on Monday that employment and joblessness had been rising at the same time, a “slight contradiction” that he said was explained by more positive news on the economy.
  • On Monday, Oil was trading lower at $68.84. The pound is trading at £1.35 to the dollar, £1.15 to the euro and £9.67 to the yuan.

Now read: UK tax collection system to get major overhaul