Here are 5 important things happening in the UK today, Wednesday (22 October 2025).
- Reeves to target solicitors and GPs as part of a raid on the wealthy: Rachel Reeves will launch a £2 billion tax raid on lawyers, family doctors and accountants as she seeks to balance the books by targeting the wealthy. The chancellor is expected to use the budget to impose a new charge on people who use limited liability partnerships as she tries to fill a £30 billion hole in the public finances. More than 190,000 workers use partnerships, particularly in the legal world, and they offer a significant tax benefit over ordinary employment. They are not subject to the employer’s national insurance as partners are treated as self-employed. (The Times)
- UK inflation comes in lower than expected: The UK inflation rate has remained stable at 3.8% in September, which was lower than expectations, official figures show. Britain’s inflation rate was also 3.8% in July and August, according to the Office for National Statistics (ONS), which is still much higher than the Bank of England’s 2% target. However, the central bank’s economists had forecast inflation to rise to 4% in September. [BBC]
- Eurostar to run double-decker trains through Channel tunnel: Eurostar is to start running double-decker trains through the Channel tunnel to meet growing demand for international rail travel from the UK. The rail operator announced it had signed a €2 billion (£1.7 billion) deal for at least 30 – and up to 50 – new trains from the manufacturer Alstom. The double-deckers will start operating from 2031, with each able to carry more than 1,000 passengers. [Guardian]
- UK elderly population hits record high: The number of men in the UK living to a very old age is increasing faster than the rate for women, helping to push the elderly population to a new record high, figures show. Some 210,520 males were estimated to be aged 90 or over in 2024, more than double the number two decades earlier in 2004, which was 97,570. By contrast, the number of females rose by only a third during this period, from 309,300 in 2004 to 414,720 in 2024. [Evening Standard]
- On Wednesday, Oil was trading higher at $62.39. The pound is trading at $1.33, €1.15, and ¥9.50.
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