Business news 10 September 2025
Britain on brink. Badenoch slams Labour’s economic mismanagement, Budget news, sick days, market news, insolvencies & other stories that we thought would interest our members.
James Salmon, Operations Director.
⚠️ Britain on brink
Lord Stuart Rose, former CEO of Marks & Spencer and Asda, has warned that Britain is “at the edge of a crisis” and called for urgent action to stimulate economic growth. His comments follow Ineos’s decision to halt investments in the UK due to Labour’s tax increases. Lord Rose told Times Radio: “If we don’t take some radical action…we’re going to find ourselves in a very difficult spot.” He expressed concern over the Government’s lack of direction and the potential impact of the Employment Rights Bill on job creation. “We laugh at the Europeans, we laugh at the restriction in working practices in Europe, we laugh at the French, but we are in a situation here where we’ve gone from having a very flexible labour force, we’ve had business which is very flexible, and we’re going to make it more difficult. I don’t understand the mentality of that. Why do that now? Why make it harder?”
📉Badenoch slams Labour’s economic mismanagement
The leader of the opposition has accused the Labour Government of leading the UK into an economic crisis marked by low growth and high spending. In a speech at the Institute of Chartered Accountants’ Hall, Kemi Badenoch urged Labour to prioritise welfare cuts over tax increases in the upcoming Autumn Budget. Badenoch stated: “The fundamental problem is our economy is being run by people who think it is government that creates growth. It’s not. It’s business that creates growth. We know that you cannot tax your way to growth.” She also pointed to a “crisis” in the bond markets and warned that the UK might be forced to go “cap in hand” to the IMF for a bailout. In a parliamentary session before MPs, the Chancellor blamed the Tories for Britain’s high level of debt and claimed the Government’s spending plans were “fully funded and fully costed”.
📈Budget brings inflation risks
One one the results of Chancellor of the Exchequer Rachel Reeves’ first budget was stubbornly high inflation. Business has warned that she risks repeating the result with her second budget. Business groups have warned that the Labour government’s policies on taxes, employment rights and the minimum wage threaten to add billions of pounds of operating costs on to businesses which will enivtably be passed on to consumers causing inflation.
💼Economists expect more tax hikes in Budget
Rachel Reeves is expected to announce significant tax increases in the upcoming autumn Budget, according to Goldman Sachs economists. Although markets would respond more favourably to spending cuts, Sven Jari Stehn, chief European economist at Goldman Sachs, said politically they are harder to achieve. “We therefore expect significant tax increases which – given the limited historical success of tax-based fiscal consolidations – will likely keep UK fiscal concerns top of mind.” Meanwhile, Oxford Economics warned the economy remains “exceptionally fragile” and predicted that the Chancellor may need to tighten fiscal policy by around £30bn. “We expect the freeze on tax thresholds and allowances to be extended beyond fiscal year 2027-2028, with more narrowly focused tax hikes biting sooner,” Andrew Goodwin, the chief UK economist at Oxford Economics, said.
🧑🏻💼CBI calls for Chancellor to rethink tax promises
Rain Newton-Smith, the chief executive of the Confederation of British Industry (CBI), has urged Rachel Reeves to reconsider Labour’s manifesto pledge against raising taxes on working people. In an article for the Guardian, she said: “The time for tinkering is over” arguing that the economic landscape has changed significantly since the manifesto was drafted. She called for strategic tax reforms, including revisiting personal taxation and reforming business rates and VAT thresholds. The CBI also expressed concerns about the Government’s employment rights legislation, which may hinder hiring.
💰Reeves rejects calls for a wealth tax
The Chancellor has cautioned Labour MPs against implementing a wealth tax, stating it could result in lower revenue for the Treasury. With a £50bn budget shortfall looming, pressure mounts from backbenchers and trade unions for a significant tax on the rich. But Rachel Reeves suggested that existing wealth levies, like inheritance tax, might be more effective. Experts warn that a wealth tax could prompt the wealthy to relocate their assets abroad.
💷Chancellor urged to relax ‘side hustle’ tax rules
The bosses of some of Britain’s best known online marketplaces have written to the Chancellor calling on her to raise the UK’s trading allowance. In a letter to Rachel Reeves, executives from eBay, Vinted, Depop and Etsy called for the allowance to be increased from £1,000 to £3,000 arguing that this would encourage more people to start small-scale “side hustles” which would stimulate the economy.
🤒Sick days soar to 15-year high
British workers have taken an average of almost two weeks off in sick days over the past year, the highest level in 15 years, according to the Chartered Institute of Personnel and Development (CIPD). The rise is attributed to long-term health conditions and an ageing workforce, with mental health issues being the leading cause of prolonged absences. Rachel Suff, senior wellbeing adviser at the CIPD, stated: “Long or repeated periods of sickness absence can make it difficult for organisations to plan their work.” The report also highlighted a widening productivity gap in the UK economy.
🚆Tube strike
London continues to be damaged by yet another week long tube strike. Commuters though are continuing to be creative in getting to work. Ride-hailing companies are reporting massive jumps in trips compared with the previous Monday, with peak travel hours shifting earlier to 6–9 a.m. from 7–9 a.m. last week. Business and work-related rides more than doubled.
📈Markets
📈Yesterday, the FTSE 100 closed up 0.23% at 9242.53 and the Euro Stoxx 50 closed up 0.11% at 5368.82. Overnight in the US the S&P 500 rose 0.27% to 6512.61 and the Composite NASDAQ rose 0.37% to 21879.49.
Deutsche Bank has raised its year-end S&P 500 target to 7,000 from 6,550, citing positive earnings growth expectations.
The US Bureau of Labour Statistics made a preliminary estimate of Current Employment Statistics revising down the number of people in employment by 911k due to response error and non-response error. The news suggested US labour demand is relatively weak.
Market gains are being driven by expectations of Federal Reserve rate cuts following signs of a weaker US labor market.
Donald Trump has reportedly told European officials that he’s willing to impose new tariffs on India and China to pressure Russia, providing the EU also applies tariffs of 100%.
Apple fell 1.5% as analysts didn’t see any major surprises from its showcase announcements regarding its new model IPhone 17, airpod pro 3 and iwatch..
💱This morning on currencies, the pound is currently worth $1.352 and €1.156 .
On Commodities, 🛢️Oil (Brent) is at $66.90 & 💰Gold is at $3644. Gold has emerged as the preferred haven asset amid rising Middle East tensions
📈On the stock markets, the FTSE 100 is currently up 0.32% at 9272. And the Eurostoxx 50 is up 0.71% at 5407.
💰Private capital firms eye UK investment
Private capital firms are increasingly attracted to the UK, with 40% of investors viewing it as a prime investment location, according to the British Private Equity and Venture Capital Association (BVCA). Investment surged by 44% year-on-year in 2024, reaching £29.4bn. The BVCA urges the Government to enhance support, particularly through tax reforms, to solidify the UK’s position as a leading investment hub.
🏘️Stamp duty hike hits mortgage market
Higher stamp duty costs have significantly impacted the property market, leading to a 24% drop in mortgage lending from April to June 2025. The Financial Conduct Authority reported that new mortgage values fell from £77.6bn to £58.8bn, the lowest since early 2024. Karen Noye, a mortgage expert at Quilter, noted that the increase in stamp duty has deterred buyers. Uncertainty surrounding potential changes in property taxes in the upcoming autumn Budget may further stall the market.
😧Pension savers panic ahead of Budget
Pension savers are urged to remain calm as withdrawals surge ahead of the Budget on November 26. The Financial Conduct Authority reports that 211,000 individuals withdrew funds in the year to March 31, a 30% increase, totalling £18bn. Many over-55s are withdrawing to assist family or mitigate tax liabilities. Emma Sterland, chief financial planning officer at Evelyn Partners, called the trend “unprecedented.” Experts warn that hasty withdrawals could have long-term financial consequences. Meanwhile, the Telegraph reports that pensions experts such as Tom McPhail and Stephen Lowe have admitted that they are considering early withdrawals amid concern that Labour will cut the tax-free lump sum in the budget. Mr McPhail told the paper: “I think the risk is real and immediate. I’ve never known a set of political and fiscal circumstances when a tax raid on pensions, and in particular the tax-free lump sum, has been more likely.”
🔍HMRC boosts surveillance capabilities
HMRC has increased its covert surveillance staff to 337, up from 171, as part of its efforts to combat tax evasion. HMRC’s training programme for monitors cost £580,000 last year and includes “drive-bys” and test purchases to gather evidence. City AM notes that the tax agency has been expanding its criminal investigation powers as part of Labour’s ‘Close the Tax Gap’ initiative, including conducting more dawn raids.
⛏️Anglo American to axe jobs in merger
Anglo American plans to cut hundreds of jobs in London and reduce its UK tax contributions following a $53bn (£39bn) merger with Teck Resources. The company will relocate its headquarters to Vancouver, impacting its London workforce of about 700. The merger is expected to result in further job losses globally, although the exact numbers remain uncertain. In 2024, Anglo contributed $2.6bn to the UK economy, including $446m in corporation taxes and royalties.
📉WH Smith’s profit forecast plummets
WH Smith Plc’s shares fell over 40% after the retailer revised its profit forecast for North America from £55m to £25m. The company attributed this significant drop to accounting errors, stating that revenue from suppliers was recorded prematurely. Overall, WH Smith has reduced its profit expectations for the year to £110m. The situation has also drawn attention to its auditor, PwC, which is now under scrutiny. A company spokesperson noted: “We acknowledge the mistakes and are taking steps to rectify them.”
💊Novo Nordisk
Novo Nordisk on Wednesday announced plans to cut around 9,000 roles, or roughly 11.5% of its global workforce. “Novo Nordisk today announced a company-wide transformation to simplify its organisation, improve the speed of decision-making, and reallocate resources towards the company’s growth opportunities in diabetes and obesity,” the company, which produces the Wegovy weight loss medication, said in a statement,
🚨Latest Insolvencies
- Petitions to wind up (Companies) – GO FRESH INTERNATIONAL LTD
- Appointment of Liquidators – PGR CONSULTING LIMITED
- Appointment of Administrator – DRS DOORS LTD
- Appointment of Liquidators – PELOTON PROPERTIES LIMITED
- Appointment of Liquidators – BUENOTHERAPY LIMITED
- Appointment of Liquidators – KRAFTCRETE LIMITED
- Appointment of Liquidators – ALPHASYMBOL LIMITED
- Appointment of Liquidators – KONA BIKES UK LIMITED
- Appointment of Liquidators – COMPENDIUM BIOTECHNOLOGY LTD
- Appointment of Liquidators – JOHNSON MATTHEY BATTERY MATERIALS LIMITED
- Petitions to wind up (Companies) – REBCAT TECHNOLOGY LIMITED
- Winding up Order (Companies) – NEUTRINO NETWORKS LTD
- Petitions to wind up (Companies) – MUTCHMEATS LIMITED
- Petitions to wind up (Companies) – SHISH MAHAL TANDOORI LTD
- Petitions to wind up (Companies) – R & T CIVILS AND GROUNDWORKS LIMITED
- Petitions to wind up (Companies) – STORESCOT LTD
- Petitions to wind up (Companies) – ALFORD FE LIMITED
- Petitions to wind up (Companies) – MOREISSH LTD
- Petitions to wind up (Companies) – A6IX LIMITED
- Petitions to wind up (Companies) – SLAINTE BARS LIMITED
- Petitions to wind up (Companies) – A&L SOURCING LTD
- Petitions to wind up (Companies) – ABC ABACUS LTD
- Petitions to wind up (Companies) – BOTTLEINN LTD
- Appointment of Liquidators – ADVANCED ANAEROBICS LIMITED
- Petitions to wind up (Companies) – DINCER LOGISTICS LIMITED
- Appointment of Liquidators – ROUNDBRIDGE FARM DEVELOPMENTS LTD
- Petitions to wind up (Companies) – ANA DEAC LTD
- Appointment of Liquidators – CAT AND ELA PROPERTIES LTD
- Appointment of Liquidators – VENGEANCE INVESTMENTS LIMITED
- Petitions to wind up (Companies) – COPPER ROCK FINANCIAL PLANNING LLP
- Appointment of Liquidators – GONALSTON FARM SHOP LIMITED
- Appointment of Liquidators – SKIN AND HAIR LTD
- Appointment of Liquidators – THE NORTH AMERICAN GUITAR LIMITED
- Appointment of Liquidators – PAUL BAKER CONSTRUCTION LTD
➕Why you should become a member of CPA!
The Credit Protection Association (CPA) has been assisting thousands of UK businesses to get paid, since 1914. We have supported our members through all sorts of difficult trading environments. we face high interest rates, a struggling economy and elevated insolvencies. CPA’s services can help your business navigate these difficult waters.
We are unlike other credit management and debt collection companies. We offer a range of services to our members. They are all included as part of a fixed annual subscription, tailored to your needs.
🎁What CPA membership gives you
Under your annual subscription you will have access to our main services:
- Our Creditcare credit reports give clear credit ratings and credit limits. Along with a host of detailed information on your potential customers. Our Creditcare reports empower you to trade with confidence.
- Our monitoring service will alert you to any significant changes in the status of those customers.
- ️Our Overdue account recovery service can be used to chase up payment on any late payments. But it is unlike other debt collection companies. This service directs your customer to pay direct to you. Having to pay a third party can be damaging. Encouraging them to pay you direct is different. It maintains your goodwill with them. Its effective too. Our Overdue account recovery service resolves over 80% of accounts referred to us.
All of the above services and other complimentary services (e.g. address verification), are included in your subscription!
And what of the small minority of debts not resolved through our Overdue account recovery service? You can refer the debt to our collections department to escalate the late payment collections process.
Summary
CPA eases cash from tardy debtors – Efficiently, Effectively, Economically and Ethically. We provide credit information so you can monitor and assess your key customers and be warned of any potential risks.
How has CPA has been improving business cash flow for over 100 years? By tackling late payers and campaigning against the late payment culture in the UK.
We are unlike other credit management companies. We offer our members a fixed annual subscription regardless of how high the value of their debts maybe!
Many businesses resort to borrowing more money to improve cashflow. CPA suggests that business owners tackle the cashflow problem at its source. Are late payments are a strain on your cashflow? Then talk to CPA about how we can help you reduce those late payments.
Just ☎️ call Peter Uwins, CPA’s National Sales Manager, on 020 8846 0000 (business hours) or 💻 email nsm@cpa.co.uk today.
When you see your money come in, you will be so glad you used CPA.
️ The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections
Do you have a commercial late payer that is causing you grief?
Use CPA’s no-win, no-fee, commercial debt recovery service!
Do you have a particular business customer who is late paying and causing you sleepless nights? Why not ask CPA’s collection department to buy it on recourse?
CPA’s collection department will then pursue the debt. We will be liable for any costs incurred. When we have recovered the debt, we will pay you the net principle debt recovered less our fixed percentage.
Our hope
We hope that once you have enjoyed success you will want to try more. You might consider becoming members. Taking out a subscription is the most cost effective way to access our services. Membership includes our Overdue Account Recovery service. But also our Creditcare reports and a range of other complimentary services.
Just call ☎️ 020 8846 0000 and ask for Godfrey Nelson or Cris Shirley (business hours) or 💻email debtpurchase@cpa.co.uk today.
️ The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.
Get compensated for past late payments
Have you been paid late by business customers in the last six years?
Maybe you no longer work with them. Under ⚖️ legislation, you are entitled to compensation you for those late payments you have suffered.
You put up with the PAIN ⚡ – now claim the GAIN! 💰
Claim late payment compensation (LPC) from former business customers who paid you late in the last six years!
CPA (LPC) Recoveries is using our bespoke software and decades of experience to do just that for our clients
Check our compensation calculator to see how much your business could be owed!
Discover NOW the potential value of late payment compensation hidden in your sales ledger!
️ The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.