5 important things happening in the UK today

Here are 5 important things happening in the UK today, Thursday (22 January 2026):

Trump walks back tariffs on the UK and EU: President Donald Trump says the US is exploring a potential deal on Greenland after talks with Nato as he backed off threats to tariff European allies that had opposed his plans for America to acquire the island. On social media, Trump offered few details about a discussion that both he and Nato described as “very productive”. After rattling the transatlantic alliance with weeks of rhetoric, the US president said the meeting had led to the “framework” of a potential agreement. [BBC]

Lords put pressure on Starmer with vote to ban social media for under-16s: The House of Lords has voted decisively for a ban on social media for under-16s in a move that puts pressure on Keir Starmer to bring in Australian-style restrictions. Peers voted by 261 to 150 in favour of a Tory-led amendment to the children’s wellbeing and schools bill, which was not backed by the government. [Guardian]

Reeves to exclude hotels and restaurants from tax rescue package: Rachel Reeves is poised to exclude hotels and restaurants from a new package aimed at softening the blow of rising business rates.
The Chancellor indicated on Wednesday that her planned support scheme will only cover pubs, dashing hopes of relief in the rest of the hospitality industry. [The Telegraph]

Farage in hot water after breaking MPs’ income rules 17 times: “Nigel Farage is the highest-earning MP in the Commons and has brought in almost £1.4 million in outside income since the general election, figures show, as he was found to have repeatedly breached parliamentary rules on declaring earnings on time. He blamed the failures on what he described as “severe growing pains” after entering parliament and said he “doesn’t do computers”. [London Evening Standard]
On Thursday, Oil was trading higher at $63.88. The pound is trading at $1.34, €1.15, and ¥9.35.