The British Chambers of Commerce (BCC) is urging the Government to implement a Growth Delivery Test to stimulate economic growth. A report from the BCC points out that the UK has the potential for growth but struggles to convert it into action. Andy Haldane, BCC president, said: “After years of rising costs, skills shortages, regulatory pressure and economic uncertainty, too many now believe the risks of growth outweigh the rewards.” The report reveals that 73% of firms cite labour costs as a major pressure, while over two-thirds believe better access to skills is crucial for growth.

Asking prices for newly-listed homes in the UK fell by £2,113, or 0.6%, from 10 May to 6 June, marking the largest June decline in 14 years, according to Rightmove. The average asking price now stands at £376,191, down from £379,517 last May. Colleen Babcock at Rightmove said it was unusual to see a price fall of this size in June. The market is currently favouring buyers due to high inventory and reduced buyer enquiries, which have dropped by 10% year-on-year.

Reform UK plans to tax companies hiring foreign workers more to pay for a reduction in National Insurance contributions for British employees. The party’s treasury spokesman Robert Jenrick said this would prioritise British workers and end “the cheap migrant labour racket once and for all.” He claimed the £11.2bn cost to the Treasury would be offset by an additional levy on foreign employees, while any shrinkage in the tax base would be compensated for by a dramatic fall in benefits paid to British workers. Any legal challenge to the policy would be rejected because Reform would also abolish the Equality Act, the Telegraph notes.

The US Federal Reserve is expected to maintain its benchmark interest rate at 3.5% to 3.75% during its upcoming meeting, marking Kevin Warsh’s first decision as chair. Analysts anticipate that the recent peace deal in the Middle East will alleviate inflationary pressures, which have surged to a three-year high of 4.2%. James Smith, an economist at ING, noted that if the oil starts flowing again, the rise in UK inflation would also likely be halted, reducing the need for a rate hike this summer. The Bank of England is expected to keep rates steady at 3.75% on Thursday. But Julian Jessop writes in the Telegraph that the BoE has chance to restore its credibility after acting too slowly on inflation in the past – a quarter-point rise this week would show it was taking the threat of second-order effects seriously.

Britain could lose £250bn in economic value over the next decade due to high energy costs, according to a report by PwC. The UK has the highest electricity prices in the G7, driven by reliance on imports and a marginal-pricing system. Rising wholesale gas prices have exacerbated this issue. PwC’s Simon Oates said that tackling these costs could unlock significant economic potential.

Late payments are costing the UK economy an estimated £11bn every year, with small businesses (SMEs) waiting an average of 27 days for payment. Research from Sage indicates that 49% of SME invoices are paid late. However, despite cashflow pressures, SMEs showed resilience, with profits growing by 7.4% in the year to Q1 2026. Sage noted that e-invoicing, set for 2029, could expedite payments by 5 to 7 days.

HMRC has acknowledged a tax overcharging issue affecting up to 8.7m pensioners, resulting in an estimated £43.5m collected in error. The agency plans to rectify the problem later this summer but is not issuing automatic refunds. The miscalculation arose from failing to account for the annual rise in state pension under the triple lock. Conservative MP Richard Holden and shadow chancellor Sir Mel Stride have called for transparency and refunds for those impacted.

The Financial Conduct Authority (FCA) plans to impose larger fines for misconduct, adjusting penalties based on income and wealth, while increasing minimum fines for serious market abuse.

Katie Prescott in the Times reports on how the AI start-up sector is under scrutiny over questionable accounting practices that inflate revenue figures. Investors are concerned about tactics like reporting unbilled contracted annualised recurring revenue (CARR) as actual revenue. A British investor noted that pressure to meet revenue targets drives some founders to misreport figures.

Nearly 50% of Gen Z – those aged 14 to 29 – have not saved any money in the past year, according to a report by Young Enterprise and HSBC UK. Rising living costs,  social pressure and a lack of financial education are to blame. Sarah Porretta, chief executive of Young Enterprise, said: “The idea that young people are reckless with money simply isn’t true. This…shows a generation under real pressure.”