One in Five UK Bosses to Cut Parental Leave After Labour's Tax Hikes
More than one in five British managers expect to scale back parental leave perks to cope with rising employment costs, a survey has found, further evidence of how workers are bearing the costs of Chancellor of the Exchequer Rachel Reeves' tax hikes on companies.
Around 22% of managers offering 'enhanced' parental benefits said it's likely that they'll be made less generous, while a tenth are actively reviewing or planning reviews of their policies to help manage costs, according to the Chartered Management Institute poll of 1,200 managers conducted between Jan. 22 and Feb. 3.
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Albo urged to go hard on Trump
Anthony Albanese should play hardball with the US on beef as tariff talks grind on, Nationals leader David Littleproud says. American beef imports have emerged as a key negotiating item in the Albanese government's efforts to secure a tariff carve out. The Trump administration has been pushing for Australia to loosen import rules to include beef from cattle originating in Canada and Mexico but slaughtered in the US. The Prime Minister has confirmed biosecurity officials were reviewing the request but vowed his government would not 'compromise' Australia's strict bio laws. But the prospect of changing laws has sparked unease among cattle farmers worried about keeping bovine diseases well away from the country's shores. With beef imports seemingly key to securing a US tariff exemption, Mr Littleproud on Monday said there needed to be some 'perspective'. 'The United States does need Australia and other countries to import beef to be able to put on their hamburgers,' he told Sky News. 'They don't have the production capacity to be able to produce the type of beef that goes on their hamburgers. 'So this is a tax on themselves that they put on Australian beef.' Despite being subject to the blanket 10 per cent tariffs on foreign imports, Australian beef into the US has risen by 32 per cent this year, according to Meat and Livestock Australia. Meanwhile, the cost of domestically produced beef within the US has been climbing, as cattle farmers struggle with drought. Mr Littleproud said the Nationals were not against importing American beef provided that it was from cattle 'born in the United States and bred all the way through to their slaughter in the United States'. But beef from cattle originating in third countries was a risk because 'we don't have the traceability that we have over the US production system'. 'And that's why Anthony Albanese needed to rule out straight away that he would not open that up to those cattle that were born in Canada, Mexico, or anywhere else in the Americas, because that poses a significant risk unless we can trace those cattle,' Mr Littleproud said. Mr Albanese has been clear in saying he would 'never loosen any rules regarding our biosecurity'. But he has also said that if a deal can be struck 'in a way that protects our biosecurity, of course we don't just say no'. Mr Littleproud acknowledged Mr Albanese's words but said 'when you see reports from departments saying this is what's on the table in terms of negotiations – where there's smoke, there's fire'. In addition to the baseline 10 per cent duties on foreign goods, Australia has also been subjected to 50 per cent tariffs on steel and aluminium. Only the UK has been able to secure a partial exemption from the Donald Trump's tariffs. A key UK concession was scrapping its 20 per cent imposts on American beef and raising the import quota to 13,000 metric tonnes. But with many British goods still subject to tariffs, analysts have questioned whether the deal was worth it. The US has trade surpluses with both the UK and Australia. Though, Australia also has a free-trade agreement with the US, meaning goods should be traded mostly uninhibited. The Albanese government has repeatedly criticised Mr Trump's decision to slap tariffs on Australian products as 'economic self-harm' and 'not the act of a friend'.
Yahoo
4 hours ago
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North missed £140bn of transport investment over last government, research finds
The North of England would have received an extra £140 billion in transport investment under the previous government if funding levels had been the same as in London, research has claimed. Independent analysis by think tank the Institute for Public Policy Research (IPPR) looked at Treasury figures between 2009/10 and 2022/23, during which time the Conservatives were in power. It reached the figure, which it said was enough to build seven Elizabeth Lines, by considering the amount of spending per person across the different English regions over that period. While England as a whole saw £592 spent per person each year, London received double that amount with £1,183 spent per person, the IPPR said. The entire North region saw £486 spent per person, with the North East and North West seeing £430 and £540 spent per person respectively. This amounted to £140 billion of missed investment for the North, more than the entire £83 billion estimate of capital spending on transport in the region since 1999/2000, according to the analysis. The region with the lowest amount of investment over the period was the East Midlands with just £355 spent per person. Among the most divisive transport investment projects for the previous government was the HS2 rail project, which was axed north of Birmingham in October 2023. Then-prime minister Rishi Sunak pledged to 'reinvest every single penny, £36 billion, in hundreds of new transport projects in the North and the Midlands', including improvements to road, rail and bus schemes. Earlier this week, Chancellor Rachel Reeves announced a £15.6 billion package for mayoral authorities to use on public transport projects across the North and Midlands ahead of the spending review. It is expected to include funding to extend the metros in Tyne and Wear, Greater Manchester and the West Midlands, along with a renewed tram network in South Yorkshire and a new mass transit system in West Yorkshire. Marcus Johns, senior research fellow at IPPR North, said: 'Today's figures are concrete proof that promises made to the North over the last decade were hollow. It was a decade of deceit. 'We are 124 years on from the end of Queen Victoria's reign, yet the North is still running on infrastructure built during her rein – while our transport chasm widens. 'This isn't London bashing – Londoners absolutely deserve investment. But £1,182 per person for London and £486 for northerners? The numbers don't lie – this isn't right. 'This Government have begun to restore fairness with their big bet on transport cash for city leaders. 'They should continue on this journey to close this investment gap in the upcoming spending review and decades ahead.' Former Treasury minister Lord Jim O'Neill said: 'Good governance requires the guts to take a long-term approach, not just quick fixes. So the Chancellor is right in her focus on the UK's long-standing supply-side weaknesses – namely our woeful productivity and weak private and public investment. 'Backing major infrastructure is the right call, and this spending review is the right time for the Chancellor to place a big bet on northern growth and begin to close this investment chasm. 'But it's going to take more than commitments alone – she'll need to set out a transparent framework for delivery.'
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Home secretary yet to agree deal days before spending review
Home Secretary Yvette Cooper is the last minister yet to agree a funding deal with the Treasury before Wednesday's Spending Review, BBC News understands. Ministers have been locked in talks with Chancellor Rachel Reeves and her team ahead of the major financial statement, which sets budgets for government departments covering the next few years. Housing Secretary Angela Rayner reached a settlement on Sunday evening after "progress" in negotiations, the BBC has learned, but Cooper is holding out in talks also involving No 10. Police budgets are expected to get a real-terms increase in each of the next three years, but negotiations are ongoing about the wider Home Office budget. Earlier on Sunday, Technology Secretary Peter Kyle said police needed to "do their bit" towards reforming public services. Kyle told the BBC's Sunday with Laura Kuenssberg that "every part of society was struggling" and that the chancellor was facing pressure from all departments for additional funding. He said the review would boost spending for schools and scientific research but declined to rule out a squeeze on policing. Earlier on Sunday, BBC News was told that Home Office ministers do not believe there is enough money to recruit the additional 13,000 new police and community support officers Labour promised in its manifesto. Kyle said the government had already provided an extra £1bn to the police, adding: "We are delivering investment in the police. "We expect the police to start embracing the change they need to do to do their bit for change as well." Spending Review: When is it and what might Rachel Reeves announce? Kyle also declined to guarantee that Rayner's housing department would be protected from budget cuts when asked about the government's plan to build 1.5 million new homes by the end of the parliament. But he added: "We made a manifesto commitment. We are absolutely laser-focused on delivering that." The last-minute talks come ahead of what is set to be a highly significant week for every part of government. It is expected there will be extra money for the NHS, with reports the Department for Health will receive increased funding. A substantial increase in funding for the NHS would come at the expense of other parts of government, as the chancellor seeks to meet her own fiscal rules, which are not to borrow to fund day-to-day spending, and for debt to be falling as a share of national income by 2029/30. But other parts of government will see their budgets squeezed as the chancellor seeks to meet her own fiscal rules, which are not to borrow to fund day-to-day spending, and for debt to be falling as a share of national income by 2029/30. Some elements of what will be included in the statement have emerged in recent days. On Sunday night the government announced £24m funding to boost artificial intelligence lessons in schools, as part of a wider £187m package to boost tech skills across the economy. Earlier on Sunday, the government announced an £86bn package for science and technology to help fund drug treatments and longer-lasting batteries. And on Wednesday, the chancellor unveiled a £15.6bn package to fund extensions to trams, trains and buses in Greater Manchester, the Midlands and the North East. Spending decisions come against the backdrop of a broad commitment to increase defence spending further to 3% by 2034. The government has already committed to increasing defence spending from 2.3% of gross domestic product (GDP) to 2.5% by 2027 - an extra £5bn a year - funded by a cut in the overseas aid budget. Reeves has previously confirmed the government will revise its controversial decision to limit Winter Fuel Payments to those in receipt of means-tested benefits. While the government is expected to share some information about who will receive the payment as part of the Spending Review, full details will not be released until the Budget later in the year. The Institute for Fiscal Studies has said "relatively modest" growth rates mean "sharp trade-offs are unavoidable". The think tank said the level of spending on health would dictate whether cuts were made to "unprotected" areas – those outside the NHS, defence and schools. Spending Review: Massive cheques from the chancellor for some - but what do totals hide? Labour tiptoed cautiously through its first year - will it now decide to escape its own shadow?
