5 important things happening in the UK today (20 May 2026)
Here are five important things happening in the UK on Wednesday (20 May 2026):
Supermarkets urged to limit food prices by the government
UK supermarkets are being urged by the government to limit food prices in return for easing regulations, the BBC understands. It is thought the policy would be voluntary and apply to key groceries – such as eggs, bread, and milk – according to retail industry sources with knowledge of the plans. It is understood that the Treasury had asked retailers to freeze price rises on certain products in exchange for an easing of packaging policies and a potential delay to rule changes around healthy food. [BBC]
Watchdog warns £38bn cost of Sizewell C nuclear plant is ‘risky’
The cost of the government’s £38bn nuclear plant in Suffolk is subject to “significant uncertainty” and may outweigh the benefits for UK households until at least 2064, according to the government’s spending watchdog. The National Audit Office (NAO) has warned that although the potential benefits of the Sizewell C nuclear plant are considerable, they remain uncertain. The risks, however, are “immediate, substantial and borne by the public”. [The Guardian]
Brits set for sharp rise in energy bills in July
Brits are set to face a sharp hike in energy costs this summer, with household bills forecast to rise by more than £200 a year, as the conflict in the Middle East ripples into the UK market. Energy analyst Cornwall Insight predicts that the annual bill for a typical dual-fuel household will increase to £1,850, according to its final forecast for the July to September price cap. This represents a 13 per cent increase from the current cap of £1,641. [CityAM]
UK waters down Russian oil sanctions
The UK government has watered-down sanctions on Russia, allowing diesel and jet fuel from Russian crude oil to enter the UK if it is refined in other countries. Officials have issued a licence, which comes into force on Wednesday, allowing the import of such oil products “indefinitely” – although it will be reviewed periodically by the business secretary. [Sky News]
Financial news
Brent crude held near $111 per barrel on Wednesday after coming under pressure in the previous session, as investors assessed President Donald Trump’s renewed threat to resume military strikes on Iran if it failed to accept US peace terms. On Wednesday, Oil was trading flat at $110.59. The pound is trading at $1.34, €1.15, and ¥9.13.
