Graham Hiscott

UK public-sector net debt reached a provisional £2,984.9 billion at the end of July 2026, nearly £96 billion higher than a year earlier but equivalent to a slightly smaller share of the economy at 94.1%. July borrowing was £1.8 billion, above both last year's figure and the OBR forecast, although borrowing for the financial year so far was £6 billion lower than a year earlier. Record self-assessed income-tax receipts of £17.1 billion and stronger VAT receipts boosted Treasury revenues, but higher benefit spending and debt-interest payments, which reached £7.7 billion in July, absorbed the gains. Economists warned that the government's fiscal headroom may have fallen below £8 billion ahead of the autumn Budget, leaving difficult choices over spending, taxation and defence funding.

Greene King received 1,449 applications to run its pubs during the first six months of 2026, a 26% year-on-year increase and an average of 26 applicants per available pub. The surge comes despite widespread pub closures and pressures from higher wages, energy costs, changing consumer habits and supermarket competition. Greene King says nearly half of applicants had no previous pub-running experience. Industry representatives welcomed the continuing appeal of pubs but called for permanently lower business rates, reduced beer duty and VAT, and less regulation. The article also profiles new publicans Charlie Brodie and former The Apprentice finalist Priyesh Bathia.

Mike Ashley’s reported £40 million acquisition of Harvey Nichols places the luxury department store within his Frasers Group empire. Analysts expect the business to change significantly, with possible store rebranding, closures and pressure on landlords to cut rents. Frasers chief executive Michael Murray, Ashley’s son-in-law, is expected to lead the retailer’s repositioning toward aspirational fashion, although Ashley retains substantial influence. The deal comes as the luxury market struggles and leaves the future of Harvey Nichols’ stores and roughly 1,000 employees uncertain.

Asda plans to transfer 3,500 in-house store cleaners to Bidvest and NIC Cleaning Services, with Bidvest covering stores in the North and NIC handling the South. The GMB union calls the move detestable and says workers have not received guarantees against future job losses, despite TUPE protections preserving existing pay and conditions during the transfer. Asda says outsourcing will provide specialist expertise, modern equipment and advanced cleaning technology as it seeks to improve customer experience while battling declining performance and rising losses.

Southern Water has applied for permission to introduce a non-essential use ban in Hampshire and the Isle of Wight if dry conditions persist. The proposed restrictions could require businesses to stop washing vehicles, cleaning premises, watering outdoor plants, and filling or topping up non-domestic swimming pools, potentially affecting commercial car washes and private gym pools. Public swimming pools would be exempt. The application is precautionary and subject to consultation and government approval, and would be the first authorization of such measures in England since 2006.

A prolonged drought and repeated heatwaves have severely damaged UK crop yields and pushed farmers toward major financial losses. Lincolnshire farmer Chris Wray expects to earn only about £10,000 this year and has decided not to plant around 200 acres because the crop would likely lose money. Analysts warn that cereal and oilseed production could fall to the lowest level since records began, increasing the risk of food shortages and higher prices. Farmers and climate analysts say extreme weather, rising machinery and fertiliser costs, global market pressures and inadequate adaptation are combining into a worsening crisis for UK food production.

Next raised its full-year sales forecast above £6 billion and expects profits to increase by more than 7% to £1.24 billion after sales rose 9.2% in the 13 weeks to early August, far exceeding its 4% forecast. UK sales increased 2.8%, driven by online shopping, while international online sales surged 37%. The company attributed the performance to warmer UK weather, effective marketing and pent-up demand in the Middle East and Northern Europe, although the Iran conflict and Strait of Hormuz disruption continue to create overseas cost pressures. Analysts praised Next's resilience and market performance, sending its shares 7% higher in early trading.

Food waste expert Kate Hall advises that apples, potatoes, opened jam and marmalade, sauces, fresh herbs, berries and cucumbers generally benefit from refrigeration, while eggs can remain at a consistent room temperature below 20°C in the UK. Tomatoes, olive oil, honey, coffee, whole onions, garlic, unripe avocados and most chocolate bars are better kept outside the fridge because chilling can damage flavour, texture or usability. The guidance follows survey findings that many people are uncertain about food storage and regularly argue about it, while Bahlsen promotes chilling its biscuits and Jaffa Cakes during hot weather.

HSBC, BP and the UK's major banks have reported exceptionally high profits amid energy-price increases and continuing conflict in the Middle East, while households face higher costs. Campaigners and the Trades Union Congress are urging Prime Minister Andy Burnham and Chancellor John Healey to introduce or increase windfall taxes, arguing that raising the bank surcharge could generate between £9 billion and £60 billion over four years depending on the rate. Energy producers already face a reported 78% tax burden, but further increases remain possible in theory. Banks warn that higher taxes could reduce lending or be passed on to customers, while North Sea producers cite existing taxation, job losses and the fact that much of their profit is generated overseas. A bank tax appears more politically feasible than an increase on North Sea producers ahead of the autumn Budget.

BP reported £4.2 billion in second-quarter profit, a 144% year-on-year increase driven by higher oil and gas prices and strong refining margins amid Middle East-related market disruption. Climate campaigners condemned the profits while UK households face high energy bills, droughts, heatwaves and other climate impacts. BP has put its North Sea operations up for sale, while Prime Minister Andy Burnham faces calls to permit new drilling despite the government's net-zero commitments. CEO Meg O'Neill defended domestic North Sea production and said the assets could remain profitable under a future owner.

HSBC reported £14.5 billion in half-year profit, contributing to more than £29 billion earned by the UK’s four biggest banks and a projected annual total of £55.3 billion. The figures have intensified calls from the Trades Union Congress and Positive Money for Prime Minister Andy Burnham and Chancellor John Healey to raise the bank profits surcharge, potentially funding lower energy bills and other cost-of-living measures. The banking industry warns that higher taxes would damage UK competitiveness, while the Treasury says tax decisions will be announced through fiscal events. BP also reported sharply higher profits as energy prices rose amid conflict in the Middle East, prompting criticism from climate campaigners.

Julie Maughan, whose eight-year-old daughter Heather died in 1999 after contracting E. coli following a beach visit in Dawlish, has urged Prime Minister Andy Burnham to put public health before water-company profits. She is calling for immediate warning signs and live pollution data at beaches, supports bringing water companies into public ownership, and advises families to check sewage-discharge information before entering or contacting water. Surfers Against Sewage says English water companies have used storm overflows near bathing waters for 116,000 hours since mid-May, with South West Water accused of breaches at 20 sites. South West Water says no definitive source of Heather’s infection was established and points to major investment to reduce storm-overflow use, while Water UK cites improvements in bathing-water quality. Maughan argues that 27 years after her daughter’s death, stronger protections are urgently needed.

Britain’s largest banks are forecast to earn about £55.3 billion in combined profits in 2026, prompting calls for Prime Minister Andy Burnham and Chancellor John Healey to raise the sector’s tax surcharge. The Trades Union Congress argues that increasing the surcharge from 3% to 8%, 16% or 35% could raise between £9 billion and £60 billion over four years to help households facing higher energy and living costs. Positive Money similarly says banks have benefited from higher interest rates and payments on reserves held at the Bank of England. UK Finance rejects the proposal, arguing that banks already pay substantial taxes and that higher sector-specific charges would damage the UK’s competitiveness and ability to attract investment. The debate comes as major banks prepare to announce strong half-year results and as executive bonuses and pay packages attract further scrutiny.

Several water suppliers in southern England have introduced or extended hosepipe bans affecting more than 18 million customers. Thames Water, Anglian Water, Affinity Water and South East Water have outlined exemptions for health and safety, disability-related needs, animal welfare, newly planted lawns and crops, and use of recycled water sources. Priority Services customers and Blue Badge holders may qualify for exemptions depending on provider rules. New turf and certain plants can be watered for limited periods, while businesses and some commercial activities retain specific allowances.

Around eight million households in England are now subject to hosepipe bans as prolonged hot, dry conditions strain water supplies. South East Water introduced new restrictions for millions of customers across several counties, joining four other major suppliers that have already imposed bans. Companies cite low rainfall, high demand and declining river and reservoir levels, while Greenpeace criticizes the industry for significant leakage and urges government action to improve water infrastructure and address climate impacts. Recent Met Office data shows the longest rain-free spell in decades across parts of England, with reservoir levels falling below long-term averages.

Consumer group Which? ranked Marks & Spencer and Next as the top providers of school uniforms, both scoring highly for durability, comfort, practicality, appearance and value. Sainsbury’s Tu, John Lewis and Asda’s George followed in the standings, while Aldi offered the cheapest polo shirts among retailers compared. Which? advised parents to consider durability and special features, watch for discounts and use multipacks to save money as families prepare for the new school year.

Research by Post Office Travel Money shows the Algarve is the cheapest major destination for UK holidaymakers based on common tourist purchases, with Sunny Beach in Bulgaria and the Canary Islands close behind. Sorrento in Italy ranks as the most expensive, highlighting large price differences both between and within countries. The report advises families to compare in‑resort costs when planning trips, with Portugal, Spain and Bulgaria offering strong value this summer.

Grocery price inflation in the UK has risen for the first time in a year, increasing from 2.4% in May to 2.6% in June, according to consumer group Which?. Several supermarket budget products have seen sharp price increases, including Asda’s cheddar slices, Sainsbury’s pork pies and Tesco’s iced fairy cakes. Tesco recorded the highest inflation rate among major retailers, though loyalty discounts were not included in the analysis. Which? warned that the rise shows continuing pressure on household budgets, with global factors such as the Middle East conflict and higher crude oil prices expected to push food costs higher. Supermarkets defended their pricing, and new research suggests most UK firms do not plan above-inflation pay rises, contributing to a renewed cost of living squeeze.

Upcoming fiscal decisions under an Andy Burnham government include restructuring business rates to support high‑street firms, reviewing frozen income tax thresholds, maintaining the pension triple lock, and considering changes to pension tax relief. Proposals for capital gains tax increases, a potential wealth tax, and substantial reforms to property taxation are under discussion, though their complexity may limit immediate action. Rising bank profits have prompted calls for higher bank surcharges, while experts warn of competitiveness risks. Addressing the £59 billion tax gap remains a major opportunity but requires significant enforcement efforts.

Consumer group Which? issued a 2026 “don’t buy” list after testing several products, highlighting major safety failures with the Kinderkraft Mink Pro 2 car seat whose shell detached during crash tests. Other flagged items included a Red Kite stroller with a wheel that detached, a Braun blood pressure monitor found to give inaccurate readings, and a Silentnight air purifier that struggled to remove small particles. Recommended alternatives included models from Joie, Boots, and Blueair. Company representatives responded by defending product compliance or announcing further investigations.

Tesco will close more than 2,000 Express stores in England at 7.30pm on Sunday if the national team reaches the World Cup final, allowing staff time to watch the match while keeping full pay. Larger stores will already be shut due to Sunday trading rules. Currys will shut an hour early for the semi‑final against Argentina, while VoucherCodes and the British Beer and Pub Association predict major boosts in hospitality and retail spending as millions of fans watch the match at home or in venues.

Forecasts indicate England’s World Cup semi-final against Argentina will drive a major boost in pub, bar and supermarket sales, with up to 9.7 million extra pints expected to be consumed in hospitality venues and pubs alone potentially serving six million more than usual. Spending in pubs surged after England’s recent win over Norway, while supermarkets are projected to see heavy demand from fans watching at home. Trade bodies and analysts expect record levels of consumer spending driven by excitement surrounding the team’s progress.

Rising oil prices triggered by renewed US–Iran hostilities and tensions in the Strait of Hormuz are pushing UK petrol and diesel prices higher just as the summer holiday season begins. Petrol has climbed from recent lows to 151.0p per litre, while diesel edged up to 164.9p. Oil has surged more than 3% as Tehran launched strikes on US facilities and again claimed closure of the key shipping route. The AA reports that wholesale fuel costs have risen across late June, reversing earlier declines following a temporary ceasefire. The volatility is accelerating a shift to electric vehicles, with government data showing steep increases in EV electricity consumption.

U.S. forces carried out roughly 140 strikes against Iranian military sites after Iran’s Revolutionary Guard attacked a Cyprus‑flagged container ship in the Strait of Hormuz, igniting a fire and halting the vessel. CENTCOM said the targets included missile and drone launch sites, naval assets and communication systems aimed at reducing Iran’s capacity to threaten commercial ships. Iran responded with strikes on Bahrain, Qatar and the UAE and announced the closure of the Strait of Hormuz until U.S. operations cease, warning further regional targets could follow. Commercial shipping remains active under U.S. protection, with hundreds of vessels escorted since May.

Pubs across England are expected to sell 5.5 million additional pints and see a major revenue boost as fans gather for the World Cup quarter‑final against Norway, aided by a more favourable kickoff time and hot weather. Industry groups project significant increases in drink and food sales, with retailers also anticipating strong demand. The British Beer and Pub Association highlighted the economic impact and urged the government to reduce beer duty, while data firms and supermarkets forecast their busiest trading day of the tournament.

EasyJet reached an agreement in principle to be acquired by Apollo Global for £5.7 billion, outbidding earlier interest from Castlelake. The offer values shares at £7.15, significantly above recent trading levels, though a formal bid is still pending with a deadline of August 7. Analysts describe the potential for a bidding war, note concerns about future debt levels, and highlight possible restructuring that could affect routes, fares, and staff. Passenger services are expected to remain unchanged during regulatory review, while long‑term employee impacts are uncertain. EasyJet’s holiday business is viewed as a key growth area, and the purchase would add to a pattern of UK firms being taken over by foreign buyers.

The government approved a deal extending the operational life of Sizewell B until 2055, guaranteeing its owners £70.50 per megawatt hour from 2035 and aiming to lower energy system costs, protect consumers, and secure jobs. Officials highlighted potential past savings under a contract-for-difference model during the Ukraine-related price spike. Ministers framed the extension as vital for energy security and clean power, while industry leaders welcomed the regulatory certainty. The article also notes recent reliance on Russian uranium and broader government backing for additional nuclear projects, including Sizewell C and small modular reactors.

Fresh US–Iran hostilities threaten expectations of rapidly falling UK inflation that had followed a ceasefire and declining oil prices. The IMF projected UK inflation would reach the 2% target by mid‑2027 and delivered the G7’s largest growth upgrade for the UK, but warned renewed conflict could damage the global economy. Brent crude prices jumped on the renewed tensions, raising concerns about fuel costs. UK officials highlighted the IMF upgrade as validation of the government’s economic strategy while acknowledging risks from escalating Middle East instability.

Millions of UK holidaymakers risk unintended roaming charges when phones connect to stronger foreign networks in coastal or border areas. Uswitch warns that many people are unaware of this possibility, and some networks such as BT/EE and Vodafone/Three may apply daily fees if devices latch onto EU signals. High‑risk zones include the Kent coast, other southern coastal regions and the Northern Ireland border. Experts advise switching off roaming, manually selecting a UK network and setting spend caps to avoid unexpected charges, while some providers may waive fees if contacted promptly.

Falling demand for university accommodation, driven by rising student debt concerns, higher numbers living at home, and reduced overseas enrollment, is squeezing Unite Group’s occupancy and forcing price cuts and planned property sales. Reservations remain below pre-pandemic levels and property valuations have declined, although the company expects occupancy to recover modestly. Analysts warn that higher stay‑at‑home rates and lower demand for less prestigious universities continue to pressure the wider student housing market.

Virgin Media was fined £28 million after Ofcom determined it had deliberately hindered customers from cancelling their contracts over nearly three years, using tactics such as call-dropping, pressure to stay and failing to process cancellations. Ofcom said the company also failed to cooperate fully with its investigation. Virgin Media stated it has since overhauled its customer service and significantly reduced complaints. Consumer group Which? condemned the company’s behaviour and welcomed the regulator’s strongest-ever consumer protection penalty.

The Office for Budget Responsibility warns that UK national debt, currently near £3 trillion, could rise to 300% of GDP over the next 50 years due to an ageing population and increasing healthcare and social care costs. Andy Burnham, preparing to become prime minister, faces rising public spending pressures while revenue from fuel duty is expected to decline as petrol and diesel car sales end. The OBR highlights the long-term fiscal burden of the state pension triple lock, which Burnham has pledged to maintain. Economists argue that fiscal rules may need reconsideration to address sustained challenges from ageing, climate change, and weak productivity.

The Office for Budget Responsibility warns the UK’s national debt could triple to 300% of GDP over the next 50 years due to rising healthcare costs, an ageing population and pension commitments. Andy Burnham, preparing to become prime minister, is expected to confront these long‑term fiscal pressures while maintaining the triple lock on state pensions. Forecasts show healthcare and social care spending rising sharply, while fuel duty revenues are projected to fall as electric vehicle adoption increases. Analysts argue the government may need to rethink fiscal rules to better address long-term economic challenges.

A record 9.1 million viewers stayed up for England’s 2am World Cup victory over Mexico, marking the biggest day ever for BBC iPlayer and BBC Sport’s digital platforms. Pubs saw a significant boost, serving an estimated six million pints after licensing hours were extended to 5am. Digital engagement surged with 5.9 million highlight streams and 330 million video views across BBC Sport’s social channels, driven in part by Harry Kane’s viral post-match interview. Hospitality organisations reported strong early-hours turnout and increased spending, with preparations underway for England’s upcoming quarter-final against Norway.

Industry data shows the UK ranks last among G7 nations for mobile network performance and lags behind all EU countries reviewed, with poor signal and unreliable data emerging as widespread consumer complaints. A survey by Which? highlights persistent issues such as dropped connections, slow speeds and outages, and argues that infrastructure investment and planning barriers are holding back improvements. Which? urges the government, Ofcom and industry to adopt real‑world performance standards, accelerate network upgrades and ensure consumers can access reliable, high‑quality services.

England supporters celebrated the team’s early‑morning World Cup victory over Mexico with pubs across the UK staying open until 5am, leading to a subdued Monday commute and increased consumer spending. Anticipation is already building for the quarter‑final against Norway, with millions expected to tune in and spend heavily. Pub chains and retailers reported major boosts in sales, while public figures including Jude Bellingham and Prime Minister Keir Starmer joined in the post‑match enthusiasm.

High street banks are escalating competition for current account customers, with the Co-operative Bank launching a switching incentive worth up to £300. New customers can earn up to £200 through initial deposit, direct debits and debit card transaction requirements, with an additional £100 loyalty bonus for existing Co‑operative Bank or Coventry Building Society customers. Both its standard and Everyday Extra accounts offer access to a linked savings account paying up to 7% interest. Other major banks including NatWest, Barclays, HSBC, First Direct, Santander and Nationwide are running similar cash‑switch promotions as they compete to attract new customers.

The UK will join the US Powerball lottery beginning July 21, with the first draw on July 23 and tickets priced at £4 per line. The launch introduces new UK‑specific prize tiers, including fixed rewards for matching two or five main numbers, and offers the possibility of jackpots reaching £1 billion due to unlimited rollovers. Allwyn expects the game to raise around £1 billion for UK good causes over five years. The article also highlights the long odds of winning, differences in payout structures, and the record‑breaking win of Edwin Castro, who previously claimed a $2 billion US Powerball prize and used the money for property purchases and community rebuilding.

Experts warn that England’s late-night World Cup match against Mexico could trigger one of the year’s worst nationwide hangovers, with millions potentially calling in sick or arriving late to work. Psychologists advise hydration, electrolyte drinks, certain foods, rest and avoiding further alcohol to manage symptoms. Employment specialists caution employers against assuming absences are misconduct and recommend applying standard policies. Economists note the event could temporarily dent productivity, while surveys show many fans planned time off or schedule changes to watch the match.

Workers are being urged to receive flexibility from employers as England’s World Cup match against Mexico begins at 1am, leaving many fans facing a 3am or later bedtime. The TUC and business groups advise allowing later starts, hybrid work or flexible hours, while data shows a significant drop in Monday morning meetings. Millions are expected to watch at home or in pubs, boosted by extended licensing hours approved by the prime minister. Some schools are permitting later arrivals despite government reminders to maintain regular attendance. Hospitality venues anticipate large crowds and increased sales as fans gather for the early‑morning match.

Growing calls urge Andy Burnham to adopt a major overhaul of council tax and stamp duty, replacing both with a proportional property tax based on current home values. Advocates argue the current banded system is unfair, with owners of high‑value London properties often paying proportionally far less than households in lower‑value regions. The proposed tax would charge 0.48% of a property’s value, with higher rates for second homes and foreign owners, and could reduce bills for around three‑quarters of households while raising costs for many in London and the South East. Supporters suggest caps and deferral options to protect those facing significant increases. They claim the plan would be revenue‑neutral, with central redistribution ensuring councils in low‑value areas are not disadvantaged.

Millions of England fans are expected to stay up for the 1am World Cup match against Mexico, prompting calls for employers to offer flexible starts as workers face fatigue the next day. Some companies, such as PR firm Ready10, are already adjusting start times, while employment experts urge businesses to show understanding where possible. Surveys indicate many workers are considering calling in sick, and hospitality spending is expected to surge during the match. Specialists also warn that late-night excitement may affect sleep and next-day performance, recommending strategies to help fans recover.

Tripadvisor is accused by consumer group Which? of producing AI-generated hotel summaries that omit serious safety issues such as food poisoning, sexual harassment and poor hygiene. Examples include hotels in Cape Verde, Mexico and Turkey where guest reviews reported illnesses and unsafe environments while the AI summaries offered overly positive descriptions. Tripadvisor rejects the allegations, asserting that its systems include safeguards for serious incidents and do not hide critical information. RIU Hotels & Resorts, whose Cape Verde property is under scrutiny, defends its health and hygiene standards.

UK petrol and diesel prices fell sharply in June, driven by a drop in global oil prices following news of a deal between the US and Iran to end their conflict. Diesel prices saw a record monthly fall of nearly 17p per litre, while petrol dropped by 8p. Despite the declines, fuel remains significantly more expensive than before the conflict began. The RAC said further reductions may be possible if oil prices continue to fall, though pre‑conflict levels remain out of reach for now.

Lloyds Banking Group is retiring the Halifax brand despite its historic significance and strong regional identity, a move attributed to corporate cost-cutting and simplification. Customers will retain existing account details, though the change is expected to create opportunities for scammers, intensifying concerns over declining branch access as additional closures loom. Other longstanding UK banking brands have disappeared in similar consolidations, raising criticism that such decisions prioritize shareholder gain over customer interests.

Lloyds Banking Group will phase out the Halifax brand after 173 years, rebranding all Halifax branches and customer accounts to Lloyds beginning in 2027. Account details will remain unchanged, but customers will need to move to the Lloyds banking app. The group says the change will not result in job losses, though branch closures previously announced will continue, leaving 531 locations nationwide. Halifax’s historic role in UK banking is highlighted, along with past issues involving HBOS during the financial crisis. Lloyds emphasises continued investment in Halifax and local employment, while consumer advocates urge clear communication and warn customers to watch for potential scams during the transition. Existing FSCS protections remain unaffected.

Court approval of a restructuring plan allows TG Jones to avoid insolvency but places up to 150 high street stores at risk of closure as landlords weigh reduced rent terms. The plan includes significant rent cuts, a three-year rent holiday for some former WH Smith locations, and additional financial support from Modella Capital. The company cites long-term sales decline, inflation, and operational costs as drivers of its financial troubles. Leadership says the restructuring will protect the core business and support a turnaround strategy.

England’s 5pm World Cup match against DR Congo allows children to watch after school, avoiding the late kick-offs of earlier group games. Loudwater Combined School headteacher Chris Spratt says pupils are highly excited, with the tournament woven into lessons and assemblies. While the timing benefits young fans, many workers are expected to leave early or stream the match during their commute. Forecasts predict strong viewership and more than £276 million in related consumer spending, with most going toward snacks and drinks.

UK energy bills will rise sharply in July before a small drop in October, with forecasts showing only minimal relief for households heading into winter. Falling wholesale prices linked to hopes for an Iran ceasefire have eased market pressures, but bills remain high compared with earlier in the year. Experts warn that the UK faces ongoing volatility and a lack of long‑term policy solutions, while fuel poverty groups highlight record energy debt and mounting distress among vulnerable households.