AGP Executive Report
Last update: 2 hours agoUK Retail Watch: British retail sales volumes fell 0.5% in July after June’s weather-boosted surge, with clothing and footwear the biggest drag, while economists framed it as a pause rather than a renewed consumer slump. Public Finance: The same data set showed government borrowing came in higher than expected in July, adding pressure to already tight household budgets. Energy Storage Push: The UK launched a £28m Ultra-LDES Challenge to back long-duration clean power storage (100+ hours), aiming to cut reliance on gas and reduce price volatility. Tax & Pensions: HMRC’s R&D tax relief crackdown is working, but firms warn the next challenge is keeping support for genuine innovation; separately, new rules from April 2027 will pull untouched pension funds into inheritance tax, prompting a surge in planning enquiries. Business Distress: New figures point to rising insolvencies and tens of thousands of UK firms in critical financial distress. Local Economy & Property: Greater Manchester councils table plans including a Piccadilly Gardens revamp and hundreds of new flats, while Tameside consults on transport-led regeneration around Ashton and Stalybridge. Trade & Geopolitics: Eurozone business activity picked up in August on stronger orders and easing price pressures, even as the Iran conflict continues to disrupt risk sentiment. Homelessness Outreach: A Liverpool charity outreach distributed food to at least 50 people in its first operation, highlighting ongoing pressure on local services. Safety & Transport: A wrong-way crash near Middlesbrough killed seven, including two police officers, as investigations continue.
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