News

Britain's high streets continued to shrink in 2024, with an average of 35 stores closing each day, but the rate of closures slowed compared to 2023, indicating a more positive outlook for the sector. Despite the closures, new shops opened across high streets, retail parks, and shopping centres, with coffee shops and convenience stores being key drivers of growth.

Inheritance tax receipts have reached £7 billion between April 2024 and January 2025, putting the government on track for another record-breaking year for IHT revenue. Experts warn that inheritance tax is becoming harder to avoid, particularly for business owners and investors, as reliefs are shrinking and asset values are rising.

Public sector borrowing has surged past official expectations, piling pressure on Chancellor Rachel Reeves ahead of next week's Spring Statement. The data raises concerns about the Chancellor's ability to meet her fiscal rules, particularly the requirement to cover day-to-day spending with tax revenues within five years and reduce debt as a share of GDP in the final year of the OBR's forecast.

JD Wetherspoon's shares plunged after the pub chain reported lower-than-expected profits despite solid sales growth, blaming higher labor and utility costs for the dip in performance. The company remains optimistic about its future prospects but faces challenges from rising costs and a competitive market.

The BBC, ITV, BT, and IMG have been fined a total of £4.2 million for colluding on pay rates for freelance sports broadcasting staff, impacting workers behind the scenes of major sporting events. The companies have admitted their involvement and committed to improving compliance measures and ensuring fair pay for freelancers in the future.