5 important things happening in the UK today

Here are 5 important things happening in the UK today – 7 August 2025.

Starmer’s tax pledge in doubt: Keir Starmer has thrown his party’s pledges on tax into chaos after he apparently refused to rule out a raid on working people to plug a £51 billion black hole. The Prime Minister said Rachel Reeves would “set out our Budget” later in the year but declined to repeat his pledge not to raise income tax, National Insurance or VAT. [Telegraph]

Bank of England expected to cut interest rates: UK interest rates are widely expected to be cut on Thursday, taking the cost of borrowing to its lowest level for more than two years. Financial markets predict that the Bank of England will reduce interest rates to 4% from 4.25% in its fifth cut since last August, taking it to the lowest since March 2023. [BBC]

One in five UK doctors is considering quitting: A fifth of doctors in the UK are considering leaving the profession, the sector’s regulator has warned, as it urged ministers to radically improve career prospects for medics. 19% of doctors are exploring quitting their jobs, the General Medical Council said on Thursday, while a further 12 per cent are considering moving overseas to advance their careers or for higher pay. [Financial Times]

UK construction activity in July falls at the steepest rate since Covid: Activity in the UK construction sector fell last month at the sharpest rate since the height of the Covid pandemic amid a collapse in housebuilding, underscoring the challenge facing the government to meet its 1.5 million new homes target. The figures from S&P Global Market Intelligence showed activity fell in July at the steepest pace since May 2020, during the first UK coronavirus lockdown. [Guardian]