5 top UK news stories today (20 February 2026)

Here’s your UK news roundup for Thursday (20 February 2026):

‘Made in Europe’ could hit supply chains, UK minister warns

A British minister has warned that the EU’s “Made in Europe” industrial strategy could hit supply chains, increase costs and create unnecessary trade barriers between the UK and some members of the bloc. Nick Thomas-Symonds, the UK minister for EU relations, made the comments as the EU is preparing to publish legislation that would require European-made products to be prioritised in public procurement and consumer schemes. The proposed legislation is designed to reduce dependence on foreign imports and boost local production in strategic sectors in an uncertain geopolitical environment. [Guardian]

Andrew released under investigation

Andrew Mountbatten-Windsor has been released under investigation following his arrest on suspicion of misconduct in public office. On Thursday morning, Thames Valley Police said it had arrested a man in his 60s in Norfolk and was carrying out searches at addresses in Berkshire and Norfolk. King Charles III said the “law must take its course” in response to Andrew’s arrest and that the police had his “full and wholehearted support and co-operation”. [BBC]

Rachel Reeves warned that dysfunctional fiscal rules are hammering the economy

Rachel Reeves has been dealt a scathing assessment of her economic policy by a top think tank, which likened her approach to a driver who was “watching the speedometer” while ignoring other conditions. The Chancellor is facing calls to scrap the self-imposed fiscal rules that prevent her from borrowing to pay for day-to-day spending and require debt to fall as a percentage of GDP by 2029/30. Economists at the Institute for Fiscal Studies (IFS) said the focus on ‘fiscal headroom’, the margin by which the government meets the rules based on forecasts, leads to “spurious” policy change, which ramps up volatility. [CityAM]

Lobbying firm co-founded by Peter Mandelson set to enter administration

The lobbying firm co-founded by Peter Mandelson is set to go into administration after being caught up in the fallout from the scandal surrounding his links to paedophile financier Jeffrey Epstein. Global Counsel, a London-based advisory business with more than 100 employees, has informed staff it is facing collapse. The appointment of administrators could come as soon as Friday.