AGP Executive Report
Last update: 21 minutes agoBudget and Markets: Bank of England chief Andrew Bailey urged Chancellor John Healey to balance the books as UK long-term government bond yields reached their highest level since 1998. Business leaders also warned that a bank-tax rise could push firms overseas. Business Costs: Retailers face a £440m increase in electricity bills this year, while consumer confidence and retail footfall weakened. Manufacturers can apply for power-bill discounts of up to 25%. Jobs and Industry: Carlsberg Britvic’s plan to close Marston’s Burton brewery puts 310 jobs at risk; UK hiring rose slightly as pay growth moderated. Workplace Rules: The government plans to ban non-compete clauses, while proposed rules would require employers to tell staff annually about their right to join a union, with tribunal compensation for breaches. Investment and Energy: A German investor pledged £1bn for UK affordable housing, and E.ON Next completed its takeover of Ovo Energy, leaving the UK with three major energy suppliers.
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