Here are 5 important things happening in the UK today, Wednesday (3 December 2025):
- Tax rises and tighter spending to hold back UK growth: Tax rises and constraints on government spending will weigh on growth in the UK’s economy, according to an influential global policy group. UK inflation will also remain among the highest of the G7 advanced economies, although it is expected to ease, the Organization for Economic Co-operation and Development (OECD) said. The OECD forecast the UK economy would be “steady” with growth of 1.4% this year before slowing to 1.2% in 2026, although its prediction for next year is an improvement on its previous estimate. [BBC]
- UK ministers aim to ban cryptocurrency donations over anonymity risks: Ministers are working to ban political donations made with cryptocurrency, but the crackdown is not likely to be ready for the elections bill in the new year, Whitehall sources have said. The government increasingly believes that donations made with cryptocurrency pose a risk to the integrity of the electoral system, not least because the source can be hard to verify. However, the complex nature of cryptocurrency means officials do not believe a ban will be workable by the time of the elections bill, due to be published shortly, which is set to lower the voting age to 16 and reduce loopholes in political finance. [Guardian]
- Thames Water debt pile rises further: Cash-strapped Thames Water has revealed a further rise in its debt pile while recording a return to profit on the back of inflation-busting hikes to bills. The UK’s largest supplier said the 31% rise to customer bills since April had allowed it to increase capital investment by 22% to £1.3bn amid demands it improve performance in preventing sewage spills and stopping leaks. [Sky News]
- AI is powering a surge of start-ups in the UK: While Britain is trudging through another tax-heavy Budget, LinkedIn data has revealed signs of a founder boom, with AI doing much of the heavy lifting. As Rachel Reeves attempted to boost startup and scale-up appetite in her Budget, LinkedIn revealed that the number of UK professionals adding ‘founder’ to their profile has jumped 69 per cent in the last year. That figure has more than doubled since 2022, far outpacing global growth whilst offering a rare flash of confidence amid the fiscal gloom. [CityAm]
- On Wednesday, Oil was trading lower at $61.83. The pound is trading at $1.32, €1.14, and ¥9.37.
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