Starmer proposes legislation for EU market rule adoption
Sir Keir Starmer is proposing new legislation that would enable the UK government to adopt EU single market rules without requiring a parliamentary vote. This measure aims to align the UK with new European regulations, particularly in food standards, and is part of a broader effort to reduce trade barriers and lower costs for businesses. The proposal has faced strong opposition from the Conservatives and Reform UK, with critics arguing it undermines parliamentary scrutiny.
UK Job Cuts Surge Amid Slowing Pay Growth
UK businesses have cut jobs at the fastest pace this year, coinciding with a significant slowdown in pay growth, as the ongoing conflict in Iran continues to impact the British economy. Chancellor Rachel Reeves acknowledged the economic costs of the war, stating that the government is committed to supporting affected families and businesses, while further talks to secure navigation through the Strait of Hormuz are scheduled for next week.
UK government funds Rolls-Royce SMR project with £599 million
Rachel Reeves, the Chancellor of the Exchequer, announced a £599 million financing package from the National Wealth Fund for Rolls-Royce Small Modular Reactors (SMR) to support its project with Great British Energy. This initiative aims to kickstart the UK's first small modular reactors, expected to generate 470 megawatts of low-carbon electricity each and create approximately 1,000 jobs at Rolls-Royce SMR. The project is part of the government's strategy to enhance energy security and transition to clean energy.
