Samantha Myers, a partner at law firm Reed Smith, looks at Financial Conduct Authority (FCA) reforms aimed at improving the IPO landscape, saying that while they will “help the UK make up lost ground,” more needs to be done to push London ahead of the competition for high-profile listings. The reforms have seen the FCA remove the seven-day waiting period and the mandatory equal information-sharing requirements between syndicate banks. Ms Myers says that there is a need for more comprehensive changes to address structural issues that drive companies to list abroad. “The market needs root-and-branch reform,” she argues.

Office for National Statistics data shows that UK inflation reached 2.9% in July, the highest level in four months, with the increase driven by soaring energy costs. The report says that gas prices have surged amid the conflict in the Middle East, leading to a 13% increase in the energy price cap. KPMG’s chief economist, Yael Selfin, said July marked the start of a gradual rise in inflation, warning that energy-related costs were expected to push inflation higher over the coming months to a peak of about 3.5%. Suren Thiru, chief economist at the ICAEW, said rising inflation “is likely to become the biggest threat to UK growth in the coming months.”

Consumer confidence has risen, with the British Retail Consortium (BRC) reporting an eight-point increase in its index to -28 in August. Gen Z showed the most optimism, anticipating improved finances and increased spending. Helen Dickinson, BRC chief executive, said: “Consumer sentiment continued to rise, with confidence in the economy hitting its highest level since the historical lows reached at the start of the Iran conflict.” The GfK consumer confidence index also rose significantly in July, increasing at its fastest pace since November 2023.

The Treasury is expected to collect an additional £468m annually in National Insurance contributions (NICs) due to a new £2,000 annual cap on salary sacrifice schemes. This change will impact workers directly, increasing their NICs. Although 4.3m workers will be unaffected, those affected are expected to pay £84 more on average, with critics warning employers could also pass much of their costs on through lower wages. HMRC expects more than 2.8m workers to reduce pension contributions, while the Treasury estimates the reforms will raise £4.8bn overall, including higher income tax receipts.

Competition for degree apprenticeships in England has surged, with applications rising from 8,100 to 21,800 in three years. However, available positions have nearly halved, dropping from 7,300 to 3,700. Many applicants said they applied to university as a “backup” amid fierce competition, with employers cutting back on hiring due to high employment costs and economic uncertainty. The Department for Work and Pensions said it is “backing employers who take on young apprentices,” while Prime Minister Andy Burnham says he wants to ensure teenagers have technical routes into careers that could rival the path of a university degree.

The Green Party has proposed a 38% windfall tax on major banks that would be levied on domestic profits exceeding £800m. Party leader Zack Polanski said such a measure is needed as banks are “profiteering from chaos and misery.” He added that the plans would generate at least £19bn, with the funds used to support small businesses. The Greens also propose doubling the employment allowance for small and medium enterprises, potentially reducing National Insurance bills by up to £10,500.

HMRC issued over 81,000 letters to cryptocurrency holders in the past year, warning them of potential capital gains tax liabilities. This figure nearly tripled from the previous year, reflecting increased scrutiny on crypto investments. As of March 2027, cryptocurrency platforms outside the UK must share customer data with tax authorities, making it easier for HMRC to enforce tax compliance.

Chris Cooke, the mayor of Middlesbrough, has called for a cap on profits from private sector providers of statutory public services. He said: “There should be a profit cap on anything that is statutorily required.” Cooke highlighted the issue of profiteering in school meals, asserting that it undermines public sector provision. Warning that usterity has left public services vulnerable to market force, Mr Cooke said: “What we are seeing is gouging on pricing.”