5 important things happening in the UK today (29 May 2026)
Here are five important things happening in the UK on Friday (29 May 2026):
Labour poised for fresh welfare changes
Labour is poised for a fresh attempt at changing the welfare system after a major government-backed report said youth unemployment was costing Britain more than £125 billion a year. As official figures revealed the number of young people not working or studying had surpassed a million for the first time in more than a decade, Alan Milburn said the government had a responsibility to the next generation to take action. [Guardian]
AI facial recognition to check age of asylum seekers from next year
An AI facial recognition tool that aims to detect adult migrants posing as children will be deployed at the UK’s borders next year. A software company has been awarded a contract to develop and test the technology, which will estimate a person’s age by analysing photographs of them taken at the border. [BBC]
London reclaims European tech crown
London has reclaimed its position as Europe’s leading tech spot, overtaking Paris after a sharp rise in AI investment and a renewed influx of global capital into its startup scene. New figures from Dealroom show London ranked fourth globally in its latest Global Tech Ecosystem Index, behind only Silicon Valley, New York, and Boston, after startups in the capital raised £17.7 billion (£13.2 billion) last year. [CityAM]
Youth unemplloyment is most signfnicant challenge facing UK
Youth unemployment is the most “significant challenge facing our country today” and risks a “lost generation”, a landmark review has found. The report, led by former Labour health secretary Alan Milburn, warns that a “whole system failure” has led to nearly one in seven of the UK’s 16 to 24-year-olds not in employment, education or training, known as Neets. The Prime Minister responded to findings, saying youth unemployment is the most “significant challenge facing our country today”. [ITV]
Financial news
Brent crude futures fell toward $92 per barrel on Friday and remained on track for a sharp monthly loss after reports indicated that the US and Iran had tentatively agreed to extend their ceasefire by 60 days and possibly permit unrestricted shipping through the Strait of Hormuz. On Friday, Oil was trading lower at $87.85. The pound is trading at $1.34, €1.15, and ¥9.11.
