Labour’s proposed workers’ rights bill is facing significant backlash from the business community, with a poll by the British Retail Consortium (BRC) revealing that 52% of HR directors anticipate job cuts and increased prices as a result of the legislation. BRC chief executive Helen Dickinson said: “Unless amended, the bill will make it even harder to keep and create jobs.” The British Chambers of Commerce (BCC) has also expressed concerns, calling for amendments to prevent “unintended consequences that could limit employment opportunities and economic growth.” The bill, spearheaded by Deputy Prime Minister Angela Rayner, is seen as introducing excessive red tape, further complicating the already challenging economic landscape. Elsewhere, polling for the TUC suggests the legislation could draw back voters from the Tory party and Reform UK, but it’s not widely known about. Finally, the STUC is calling for the bill to go further and include rights on sectoral bargaining and for union access to workplaces right across the economy.

The Government’s ‘Made in the UK, Sold to the World’ export roadshow has kicked off in Blyth, Northumberland, aiming to connect small businesses with international buyers. Nearly 100 buyers from 19 countries, including South Korea, Mexico, and India, will meet with UK exporters, focusing on sectors like clean energy. The roadshow series, which will visit multiple cities, will help businesses access export opportunities more quickly and effectively. Each event will target a different sector, with support from commercial officers and the UK Export Academy. Despite government efforts, recent data shows many small businesses still face challenges in exporting, with only 18% of businesses over £500,000 in revenue considering themselves export experts.

Next month, Britain is poised to sign a statement of shared “geopolitical values” with the European Union, potentially angering President Trump. The draft preamble to a new strategic partnership, set to be revealed on May 19, underscores support for Ukraine’s territorial integrity, the Paris climate agreement, and free trade. This move may signal that Sir Keir Starmer’s government is aligning more closely with Brussels, raising concerns in Whitehall about its reception in Washington. The document states: “We reaffirmed our continued support for Ukraine’s independence, sovereignty and territorial integrity.” The UK hopes to secure a trade deal with the US before the EU conference, but uncertainty looms as the agreement with Brussels could complicate negotiations.

Sir Jim Ratcliffe, chairman of Ineos, has said the carbon emissions tax is “killing manufacturing” in Britain. The company’s Grangemouth plant is set to incur a £15m tax bill in 2024, which Ratcliffe describes as a “heavy blow” that hampers efforts to enhance energy efficiency. He said: “To meet this tax obligation, we will be forced to pause vital investment in projects that were designed to make our operations more efficient and more sustainable.” The tax is part of the UK emissions trading scheme, which aims to reduce carbon emissions across the economy by making it more expensive to burn fossil fuels and other waste.

Income tax thresholds, frozen since 2021, have pushed nearly 2m Brits into higher tax brackets, with the number of higher rate taxpayers rising from 4.43m to 6.31m between 2021 and 2025, according to finance specialists Rift. Managing director Bradley Post said: “Rising income taxes have been particularly punitive in recent years, as inflation reached double digits.” The current higher rate tax of 40% applies to income between £50,271 and £125,140. The average income of high earners has increased to £61,041, leading to 21% of their total income being taxed at the higher rate by 2025. Chancellor Rachel Reeves has extended the freeze on income tax bands until April 2028, which also impacts eligibility for financial support like child benefits for many families.

Retail sales volumes experienced a slight decline in April, with businesses anticipating continued consumer caution in the months ahead. The CBI retail sales index’s weighted balance improved to -8% from -41% in March, yet retailers expect a more significant drop in May. Martin Sartorius, principal economist at the CBI, remarked: “Annual retail sales volumes fell more slowly in April, but firms remain pessimistic about the outlook due to the impact of autumn budget measures, persistently weak consumer sentiment, and global economic uncertainty.”

PwC’s chief people officer has told peers the firm is ready to discipline staff who refuse to come into the office at least three days a week. Philippa O’Connor told the House of Lords’ home-based working committee that PwC had been monitoring performance since January and once more data was available a judgement could be made. So far, the data suggested staff who worked from the office were more productive than employees who worked from home. Ms O’Connor said: “There is a really clear correlation between time in the office and the utilisation of our people and that just indicates to us…that we have got this connection between coming into the office [and] being more productive.”

Rachel Reeves has been identified as the least popular political figure among aspiring entrepreneurs, according to a survey conducted by the campaign group Land of Opportunity. The poll, which included 400 individuals looking to start new ventures, revealed that Reeves’ approval rating was the lowest among leading politicians in Westminster. Andrew Barclay, director of Land of Opportunity, said: “Our polling shows Rachel Reeves is deeply unpopular with exactly the group of entrepreneurs needed to drive growth in the UK.” In contrast, Sir Ed Davey of the Liberal Democrats was viewed most positively by current and prospective entrepreneurs. The survey highlights concerns about Britain’s appeal to entrepreneurs amid reports of wealthy individuals leaving the UK for countries like Dubai and Italy.