VAT to be cut from electricity bills in October
The UK government has announced a reduction of VAT on household electricity bills from 5% to zero, effective in October, expected to save typical households approximately £45 annually.
UK military ‘eyes innovative electric flying taxi’ as 2029 launch planned
UK military shows interest in electric flying taxi variant from Vertical Aerospace, which demonstrated its prototype at an airshow and received additional £10m government funding.
UK borrows less than expected in June but public finances remain a challenge
UK government borrowing in June was £16bn, slightly below forecasts, though analysts warn public finances remain fragile with debt at near-record levels relative to GDP.
Defence shares rise after Andy Burnham appoints John Healey as chancellor
Defence company shares surged after John Healey was appointed chancellor, with investors betting his previous advocacy for increased military spending will translate into action in his new role.
Wall Street is selling more rental homes, as buying ban takes effect
Institutional investors are selling single-family rental homes at accelerated rates following newly enacted legislation that bans purchases by those owning 350 or more properties, with listings more than doubling since early February.