Government announces new taskforce to boost small business finance.
It is reported that the Government is launching a taskforce to enhance funding for SMEs. The initiative aims to provide an additional £1bn in lending over five years. The idea is to augment the current low borrowing rates among small firms. The taskforce will collaborate with banks and Community Development Finance Institutions to improve access…
UK AI sector raises £20bn in private capital
City AM reports that Britain’s AI sector has gained momentum. In excess of £20bn has been raised in private capital in the past year, according to the Startup Coalition’s latest AI index. The combined valuation of British AI firms exceeds £45bn, with business services attracting £8.3bn. Despite this growth, confidence in AI remains uneven. According…
Chinese importers benefit from Tax loophole
The chief executive of Associated British Foods, (owner of Primark), has warned that the Government’s delay in addressing a tax loophole benefits Chinese firms and is harming UK retailers. He has urged ministers to eliminate a rule allowing firms like Shein and Temu to ship parcels worth up to £135 without duty. While Chancellor Rachel Reeves…
Falling costs of Building projects
The Times reports that the average cost of building projects has dropped significantly, falling 14% over the past year and 25% below its 2023 peak, saving homeowners around £2,000 per project, according to Checkatrade. The decline is driven by cheaper, more stable material prices, calmer labour cost increases, and the disappearance of “supply risk premiums”…
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