5 important things happening in the UK today

Here are 5 important things happening in the UK today, 29 August 2025.

Asda boss sends warning to Reeves: The chairman of Asda has warned Rachel Reeves against a fresh tax raid in the upcoming Budget as food inflation hammers shoppers. Allan Leighton said that if the Chancellor wanted to grow the economy, she should move away from “taxing everything in some way, shape or form” and instead start investing in Britain. [Telegraph]

UK firms warn over US small parcel tax: UK firms are warning that new taxes on sending low-value parcels to the US are bringing uncertainty and potential price hikes for their businesses. US President Donald Trump is cutting the “de minimis” exemption means parcels valued under $800 (£592) will be subject to tax from Friday. The Federation of Small Businesses has warned that this will push up costs and create new barriers for small firms in the UK trying to compete with bigger brands. [BBC]

British farmers brace for a second year of poor harvests: British farms are on course for a second year of poor harvests, as the sector grapples with dry weather, low wholesale prices, and reduced government support since Brexit. The yield on British wheat is estimated to be 7.3 tonnes per hectare this season, 9 per cent below the 10-year average, according to preliminary estimates from the Agriculture and Horticulture Development Board, an industry group. [Financial Times]

SUVs reach 30% of the car market in English cities: The number of giant cars in England’s cities has increased tenfold in recent years, according to researchers, who warn the vehicles are taking up excessive public space and posing a threat to public safety. Analysis published by Clean Cities has found that SUVs have gone from 3% to 30% of existing cars in the past two decades. In London, the number of SUVs has increased from about 80,000 in 2002 to about 800,000 in 2023. [Guardian]
On Friday, Oil was trading flat at $67.11. The pound is trading at $1.35, €1.16, and ¥9.66.