UK firms hold off on hiring as job vacancies fall
UK companies are holding back on hiring or are not replacing departing workers, sending job vacancies tumbling official figures suggest.The number of available jobs fell by 63,000 between March and May while the unemployment rate ticked higher."There continues to be a weakening in the labour market," said Liz McKeown, director of econonic statistics at the Office for National Statistics (ONS), adding that there had been a noticeable drop in the number of people on payrolls.In April, National Insurance Contributions paid by employers increased while a rise in the minimum wage came into force.
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Glasgow Times
an hour ago
- Glasgow Times
Starmer and Reynolds meet US commerce secretary in push to implement trade deal
The Prime Minister dropped in on a meeting between Howard Lutnick and Business Secretary Jonathan Reynolds in Downing Street on Tuesday. Mr Lutnick was in London for talks with China on resolving the trade war between Washington and Beijing, and Mr Reynolds took the opportunity to meet him in person to push for the UK-US trade deal announced last month to be implemented as soon as possible. The meeting follows talks between the Business Secretary and US trade representative Jamieson Greer in Paris last week. Under the terms of the agreement announced by Sir Keir and Donald Trump, the US will implement import quotas that will effectively eliminate tariffs on British steel and cut the levy on vehicles to 10%. But the deal has yet to be implemented and tariffs on both steel and cars remain at 25%, although the UK has been spared the increase on steel duties to 50% that Mr Trump imposed on the rest of the world last week. In a post on social media, Mr Reynolds said he had discussed 'progress on our trade deal – including UK autos and steel' with Mr Lutnick. UK officials remain hopeful that the deal will be implemented soon, but Tuesday's meeting does not appear to have moved the issue beyond both sides agreeing the need to move quickly. Speaking in the Commons last week, Sir Keir said he was 'very confident' that tariffs would come down in line with the deal 'within a very short time'. Implementing the deal will require the UK to pass legislation, likely to involve regulations rather than a full Act of Parliament, while the US will also need to create a legal mechanism to bring steel and vehicle quotas into effect.
Powys County Times
an hour ago
- Powys County Times
Starmer and Reynolds meet US commerce secretary in push to implement trade deal
Sir Keir Starmer has met the US commerce secretary as the Government continues to push for its American trade deal to come into force. The Prime Minister dropped in on a meeting between Howard Lutnick and Business Secretary Jonathan Reynolds in Downing Street on Tuesday. Mr Lutnick was in London for talks with China on resolving the trade war between Washington and Beijing, and Mr Reynolds took the opportunity to meet him in person to push for the UK-US trade deal announced last month to be implemented as soon as possible. The meeting follows talks between the Business Secretary and US trade representative Jamieson Greer in Paris last week. Under the terms of the agreement announced by Sir Keir and Donald Trump, the US will implement import quotas that will effectively eliminate tariffs on British steel and cut the levy on vehicles to 10%. But the deal has yet to be implemented and tariffs on both steel and cars remain at 25%, although the UK has been spared the increase on steel duties to 50% that Mr Trump imposed on the rest of the world last week. In a post on social media, Mr Reynolds said he had discussed 'progress on our trade deal – including UK autos and steel' with Mr Lutnick. UK officials remain hopeful that the deal will be implemented soon, but Tuesday's meeting does not appear to have moved the issue beyond both sides agreeing the need to move quickly. Speaking in the Commons last week, Sir Keir said he was 'very confident' that tariffs would come down in line with the deal 'within a very short time'. Implementing the deal will require the UK to pass legislation, likely to involve regulations rather than a full Act of Parliament, while the US will also need to create a legal mechanism to bring steel and vehicle quotas into effect.
The Independent
an hour ago
- The Independent
Welsh railways to get £445m investment in spending review
Welsh railways are set to receive a £445 million investment when the Chancellor announces her spending plans for the coming years on Wednesday. Rachel Reeves is expected to announce the additional funding as part of her spending review, aiming to address what the Treasury sees as years of underinvestment in Welsh infrastructure. Understood to be a combination of direct funding and additional money for the Welsh government, the investment is expected to be spent on projects such as fixing level crossings, building new stations and upgrading railway lines. A Treasury source said: 'With this Government, Wales will thrive, and the Chancellor has prioritised bringing forward a package that has the potential to be truly transformative.' On Tuesday, Welsh First Minister Eluned Morgan told members of the Senedd that her government was 'expecting something positive from the spending review'. She said: 'I've been clear and I've been consistent when it comes to rail funding that we have not been getting our fair share of funding, in a position that the Tories left us with for over a decade. 'The difference between the Tories and the UK Labour Government is that they've recognised that injustice.' Baroness Morgan's comments came in response to criticism from Plaid Cymru leader Rhun ap Iorwerth of a decision to classify the £6.6 billion Oxford-to-Cambridge line as an England and Wales project. The designation means Wales will not receive the additional rail funding it would get if branded an England-only project. Mr ap Iorwerth said Wales had been 'getting our share until Labour actively moved the goalposts'. The expected announcement of additional funding for Welsh railways is one of several transport-related investments set to be confirmed on Wednesday. Ms Reeves has already announced plans to spend a total of £15.6 billion on public transport projects in England's city regions, and is understood to be preparing to extend the £3 cap on bus fares in England until March 2027.
