5 important things happening in the UK today
Here are 5 important things happening in the UK today, Friday (17 October 2025).
- First digital ID launches today: From today, digital veteran cards are available for ex-members of the armed services – the first step in the digitisation of almost every form of ID. Having all government documents accessible in an Apple or Google Wallet-style app is the end goal, and the solution is being built on similar secure technology that underpins storing payment cards on your phone. The work is being done in-house by the Government Digital Service, part of the Department of Science, Innovation and Technology, which houses the digitisation expertise in Whitehall. [Sky News]
- Reeves to take action on bills: Chancellor Rachel Reeves has said she is planning “targeted action to deal with cost of living challenges” in next month’s Budget. Speaking to the BBC, she said it was the job of both the government and the Bank of England to reduce inflation. The UK’s inflation rate is forecast to be the highest among the G7 group of developed nations this year and next. The BBC reports that the government could intervene to bring down energy bills, for example, by cutting the current 5% rate of VAT charged on energy. [BBC]
- Labour warned that more tax rises would crush the job market: Rachel Reeves has been warned that hitting employers with more tax rises in next month’s Budget would crush the jobs market, with confidence already “in free fall”. Some 56% of employers said they would cut jobs or freeze hiring if the Chancellor raised taxes on businesses again, according to the Institute of Chartered Accountants in England and Wales (ICAEW). The trade body warned that corporate tax rises would put Britain’s “growth mission” in jeopardy. [Telegraph]
- London developers to be allowed to reduce percentage of affordable homes: Developers will be allowed to build lower numbers of affordable homes and claim higher subsidies to build them under plans being drawn up by the government to solve London’s housebuilding crisis. Steve Reed, the housing secretary, and Sadiq Khan, the mayor of London, will announce the package within weeks, in what officials say will be a time-limited intervention designed to stall the sudden drop in new building in the capital. [Guardian]
- On Friday, Oil was trading lower at $60.84. The pound is trading at $1.35, €1.15, and ¥9.59.