The national living wage has risen by 6.7% to £12.21, reducing the salary gap between full-time minimum wage workers and average university leavers to just £500. Currently, those working 40 hours a week earn £25,500, while one in ten graduate roles offered only £25,000 at the end of last year, according to Indeed. The lowest-paid quarter of graduate jobs average £27,765, only slightly above the minimum wage. Neil Carberry from the Recruitment and Employment Confederation highlighted concerns over “differentials,” stating that the rise in minimum wage could lead to fewer entry-level jobs. The rapid increase in the minimum wage, which has grown by 37% since 2021, contrasts sharply with average wage growth of 24% and inflation at 23%.

Demand for office space in London has reached its highest first-quarter level since the financial crisis, with 1.2m sq ft let, marking a 39% increase from the previous quarter, according to Knight Frank. The trend is driven by firms encouraging employees back to the workplace and stricter environmental regulations prompting a “flight to quality”. Notably, 86% of the space was in new A-rated buildings. With minimum energy efficiency standards set to rise in 2027, landlords are refinancing properties to meet demand for sustainable builds, leading to potential rental growth of 3–6% in 2025, as estimated by Derwent London. Simon Rickards, head of UK capital markets at Knight Frank, said: “Investors are slowly buying into the demand and prime rental growth story in new office buildings.”

The UK economy is experiencing a “harrowing” year due to President Trump’s tariff regime and a £25bn tax increase on employers, according to a survey by the Institute of Chartered Accountants in England and Wales (ICAEW). Business confidence has dropped to its lowest level in over two years, with the ICAEW’s business confidence monitor falling from 0.2 to -3 in the first quarter. The report indicates that the manufacturing sector is particularly affected, with concerns about a potential trade war.

The loan charge scandal has escalated, with HMRC facing accusations of harassing victims of mis-selling. Reports indicate that four more individuals have attempted suicide linked to the loan charge, raising the total to 14 referrals to the Independent Office for Police Conduct. The loan charge, introduced in 2016, has left many contractors with unexpected tax bills, with Ray Newton, a victim, stating: “Instead of going for the tax that was avoided they are going for the jugular.” Labour’s independent review has been labelled a “sham” by campaigners, as it focuses on settlement barriers rather than the principle of the loan charge. Critics, including Sir Iain Duncan Smith, have condemned the review as an “internal HMRC stitch-up,” calling for a comprehensive inquiry into the issue.

UK inflation currently stands at 2.8%, but Andrew Sentance, a former member of the Monetary Policy Committee at the Bank of England, warns it could exceed 5% this autumn. He describes a “perfect storm” of global trade tensions, rising wages, and increasing utility bills that threaten to escalate prices, putting additional strain on families and businesses. Sentance cautions the Bank of England to “hold fire” on interest rate cuts, as core inflation remains high at 3.5%. He highlights several factors contributing to this inflationary pressure, including rising service sector prices, climbing private sector wages, and soaring utility costs.

March’s warm weather spurred a 1.1% increase in retail sales, driven by gardening, DIY, and food products, according to the British Retail Consortium-KPMG survey. However, experts warn that growth may have peaked, as spending on larger items remains weak amid rising consumer concerns over US trade tariffs and UK tax increases. Karen Johnson from Barclays Corporate Banking highlighted “welcome green shoots” in consumer spending, but cautioned that rising bills are pressuring finances.

The UK Government has announced a £121m investment to accelerate the development and commercialisation of quantum technologies, aiming to combat financial crime and enhance public services. The funding, revealed on World Quantum Day, is part of the £2.5bn national quantum technologies programme. Tech Secretary Peter Kyle said: “Quantum… has the potential to save millions for our economy, create thousands of jobs and improve businesses across the country.” The investment will support research, advanced infrastructure, and talent development in the sector.

Brian Monteith in the Telegraph critiques the influence of Non-Government Organisations (NGOs) on economic growth, arguing that they often prioritise public spending instead. Monteith asserts that NGOs, while not accountable to the electorate, exert significant influence over government policy, leading to detrimental regulations for businesses. He concludes by calling for an end to taxpayer funding of political advocacy and a reassessment of the role of NGOs in shaping economic policy.