5 important things happening in the UK today

Here are 5 important things happening in the UK today, Tuesday (20 January 2026):

UK to consult on social media ban for under 16s: The government will consult on whether social media should be banned for under-16s in the UK. It said “immediate action” would give Ofsted the power to check policies on phone use when it inspects schools, and it expected schools to be “phone-free by default” as a result of the announcement. A similar ban took effect in Australia in December 2025, the first of its kind in the world. Other countries are said to be considering such a law. [BBC]

Reeves plans to refund some visa fees to attract businesses: Rachel Reeves will pledge to refund visa fees for some global businesses on Tuesday, as she flies to the World Economic Forum in Davos, aiming to showcase the UK as a haven of stability, despite Donald Trump’s latest tariff threats. She will announce tweaks to the visa regime aimed at encouraging “trailblazer” businesses to bring highly skilled staff to the UK – including refunding fees – and speeding up the time it takes to qualify as a sponsor of migrant workers. [Guardian]

Don’t hit back on tariffs, says Starmer: The European Union must not launch a trade war in response to Donald Trump’s tariffs over Greenland, Sir Keir Starmer believes. President Trump has pledged to impose tariffs of 10 per cent on goods from Britain and seven EU countries unless control of Greenland is handed to the US. On Monday, he even refused to rule out military action to take the Arctic territory.
European officials, led by France, have called for the EU to hit back with tariffs of its own on US goods. [Telegraph]
Thousands of Brits set up trusts to swerve inheritance tax: Tens of thousands of families are setting up trusts to avoid inheritance tax ahead of reforms being brought in by the Chancellor. About 121,000 trusts were registered in the UK in the 2024-25 tax year, up from 115,000 the year before. It means there are now 835,000 trusts, with one in seven set up last year, according to HM Revenue & Customs. [The Times]
On Tuesday, Oil was trading flat at $62.75. The pound is trading at $1.34, €1.15, and ¥9.36.