5 important things happening in the UK today (18 May 2026)

Here are five important things happening in the UK on Monday (18 May 2026):

HS2 failings laid bare

The HS2 rail line failed due in part to a focus on achieving the highest possible speeds and political pressure, a review is expected to find. The scheme has been undergoing a “reset”, and in March Transport Secretary Heidi Alexander asked HS2 bosses to look at lowering top speeds to save money. This latest report into HS2, expected to be published this week, is authored by former National Security Adviser Sir Stephen Lovegrove and has considered the implications for the civil service and public sector. [BBC]

UK formally assesses bid for England to host Olympics in 2040s

The government is looking into a potential bid for the north of England to host the Olympic and Paralympic Games in the 2040s. Ministers have commissioned UK Sport to assess the viability of a potential bid which, if successful, would see the Olympics return to Britain for the first time since the Games in London in 2012.

Too many Brits are pushed towards university

Too many young people are being pushed towards university rather than technical education, leaving tens of thousands of recent graduates out of work, a government review into youth inactivity and worklessness will say. One in 10 young people who are not in education, employment or training (NEETS) now has a degree, according to a review led by former Labour cabinet minister Alan Milburn. [Financial Times]

More than 100 UK datacentres plan to burn gas to generate electricity

More than 100 new datacentres in the UK plan to burn gas to generate electricity, some potentially doing so permanently. British officials say this is an inevitable consequence of a years-long wait to connect to the National Grid, and raises an “interesting question” about the UK’s climate targets. “There’s 100GW of data centre projects in the queue,” said Stuart Okin, the director of cyber regulation and AI at Ofgem. [Guardian]

Financial news

Oil prices have breached the $111 mark as markets brace for a wave of shortages to hit. On Monday, Oil was trading higher at $111.13. The pound is trading at $1.33, €1.15, and ¥9.07.