Here are 5 important things happening in the UK today, Wednesday (15 October 2025).
- UK economy sees little growth ahead of crucial budget: The UK economy expanded by 0.1% in August, according to official figures, giving a lift to Rachel Reeves ahead of next month’s crucial budget. A boost from the manufacturing sector helped the economy improve along with a strong performance by the health sector. However, the Office for National Statistics said it had revised down July’s flatlining growth to a 0.1% contraction, limiting the rise in output over the three months to August to 0.3%. [Guardian]
- Reeves told to make ‘bold choices’ or raise taxes: The Chancellor should be “bold” in next month’s Budget or risk future spending cuts and tax rises, an influential think tank has said. The Institute for Fiscal Studies (IFS) is projecting Rachel Reeves will need to find £22bn to make up a shortfall in the government’s finances, and will “almost certainly” have to raise taxes. Finding this amount would allow the government to maintain the £10bn of headroom it has built into the system – but the IFS says there is a “strong case” for trying to increase it beyond this amount. [BBC]
- Cash ISA in the firing line: The Chancellor is again considering slashing the cash Isa allowance for savers in her budget next month. Reeves, who wants to get more savers investing instead of saving in cash, shelved plans to cut the £20,000 limit in July after a backlash from banks and building societies. But it is understood that she is now looking at it once again, with plans to limit the amount of the annual £20,000 allowance that could be used for cash, potentially halving it to £10,000. You could still be able to save the full £20,000 in a stocks and shares ISA. [The Times]
- Thousands sue Johnson & Johnson in UK over cancer claims: Johnson & Johnson (J&J) is facing legal action from thousands of people in the UK who are accusing the global healthcare giant of knowingly selling talcum powder contaminated with asbestos. More than 3,000 people allege they or a family member developed forms of ovarian cancer or mesothelioma from using Johnson’s baby powder between 1965 and 2023. [Sky News]
- On Thursday, Oil was trading flat at $62.40. The pound is trading at $1.34, €1.15, and ¥9.56.
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