5 important things happening in the UK today (27 May 2026)
Here are five important things happening in the UK on Wednesday (27 May 2026):
Labour has ‘no coherent plan’ for the country, says Blair
Sir Tony Blair has accused Sir Keir Starmer’s government of having no “coherent plan” for the country and introducing policies that have held back business. In a highly critical essay, external, the former Labour PM singled out measures including new workers’ rights laws, the phasing out of the British oil and gas industry and the above-inflation uplift to the minimum wage. However, he warned that whether there was a change of leader was “irrelevant if it doesn’t start with a policy debate”. [BBC]
Russia is targeting the UK’s infrastructure and democracy
Russia is relentlessly targeting Britain’s infrastructure and democracy, while there is only a narrowing technological window to stay ahead of a fast-developing China, the head of the spy agency GCHQ will warn in a lecture on Wednesday. Anne Keast-Butler, giving an inaugural annual lecture, will say that the UK is caught in a “new era of radical uncertainty” and that “the risk of miscalculation” is as high as she has ever seen it as hacker attacks from the two states continue. [Guardian]
UK to introduce new social media rules for teens within weeks
Labour is expected to announce a social media crackdown within weeks as the prime minister, Keir Starmer, on Tuesday said he would act “very, very quickly” despite splits between campaigners and child safety experts on what the new rules should be. Tech insiders believe the government will choose not to follow an Australian-style model for under-16s and instead focus on infinite scrolling, autoplay, and location sharing. [The Times]
London now makes up a third of UK corporate tax
London accounts for more than a third of total corporation tax receipts across the UK. Data shared by the Office for National Statistics (ONS) has shown that London makes up around 36% of total corporation tax income generated each year, highlighting the capital city’s dominance of UK corporate activity. London made up around £33.4 billion of the UK’s total £93.1bn in corporation tax receipts in the financial year between 2024 and 2025. [CityAM]
Financial news
Brent crude futures fell to around $98 per barrel on Wednesday, resuming the decline as investors assessed signs of potential progress toward a US-Iran peace agreement alongside renewed tensions and lingering uncertainty surrounding the strategic Strait of Hormuz. On Wednesday, Oil was trading lower at $91.94. The pound is trading at $1.35, €1.16, and ¥9.13.
