Finance

5 important things happening in the UK today (22 May 2026)

Ryan Brothwell 2 min read
5 important things happening in the UK today (22 May 2026)

Here are five important things happening in the UK on Friday (22 May 2026):


Ditched government projects cost the taxpayer £6.6 billion last year

Cancelled government projects such as the Rwanda deportation scheme and the road tunnel under Stonehenge are wasting billions of pounds of taxpayer money a year, parliament’s spending watchdog has found. About £6.6 billion was written off by government departments last year alone – state spending that did not achieve its intended objectives or create any value for the taxpayer, the public accounts committee said. [Guardian]

Amazon UK boss calls for mandatory work experience.

Record levels of young people are out of work – but it is not their fault, Amazon’s UK boss has said. “We have to stop blaming young people,” John Boumphrey told the BBC, adding the education system isn’t “producing young people who are ready for work”. He called for work experience to be mandatory for over-16s. “It’s not a motivation problem, it’s a system problem, and that requires a system response.”

Reeves food tariffs policy not expected to impact supermarket prices

Food manufacturers and retailers have slammed Rachel Reeves’ cost of living measures, claiming the government’s loosening of food tariffs will do little to help supermarkets to cut prices. Reeves was attacked by top UK grocers earlier this week after it emerged she had urged supermarkets to sign up to price caps on certain foods. [CityAM]

Age checks to stop children using sunbeds 

Children will be stopped from using sunbeds through mandatory ID checks under new laws being consulted on by the government today. Under-18s are already barred from using sunbeds but teens often get around these rules through using contactless systems that let anyone tap and tan without any checks by a staff member. [Gov.UK]

Financial news

Brent crude futures climbed toward $104 per barrel on Friday after reports indicated that Iran’s Supreme Leader ordered the country’s enriched uranium reserves to remain inside Iran. On Thursday, Oil was trading lower at $104.56. The pound is trading at $1.34, €1.16, and ¥9.14.

Now read: 78% of UK bosses say they can’t afford to hire anymore