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Rachel Reeves could be forced into announcing emergency tax rises as early as this spring if the UK’s economic outlook continues to deteriorate, leading economists have warned.

The Chancellor’s recently introduced tax and spending rules, known as the “stability rule,” leave her little room to manoeuvre if public finances falter, potentially compelling her to raise taxes or cut spending by March.

Under the stability rule, Ms Reeves can only borrow to invest, rather than fund the day-to-day running of government. Any significant decline in growth and its resulting impact on revenues would therefore demand immediate corrective action to keep the books balanced. Ben Zaranko, an economist at the Institute for Fiscal Studies, said that should current projections of a small budget surplus flip into a deficit, the Chancellor may have to tighten the fiscal screws further at the spring statement.

The warning comes as new data suggest the UK economy is grinding to a halt. Businesses are shedding jobs at the fastest pace since the global financial crisis—excluding the pandemic—as confidence ebbs following the Chancellor’s record £40bn tax raid. S&P Global’s latest flash composite purchasing managers’ index edged down to 50.5 in December, barely above the critical 50-point mark that separates growth from contraction.

Chris Williamson, chief business economist at S&P Global Market Intelligence, described the economy as “stagnating” amid “downbeat rhetoric and policies” from the Labour government. He noted that a sharp pullback in hiring is partly the result of rising employer National Insurance contributions, which were announced in October’s budget. While private sector activity clings to positive territory, the deterioration in sentiment and increased job cuts herald a bleaker economic horizon in 2025.

Ms Reeves, who has already committed to not holding another full Budget before the spending review, has hinted that any emergency adjustments would lean towards spending measures, rather than fresh tax hikes. Nevertheless, Treasury sources have not ruled out tax rises, insisting the Chancellor “will plan for all scenarios” and that meeting fiscal targets is “non-negotiable.”

Observers point out that Ms Reeves’s buffer against budget fluctuations will not kick in until 2026. Until then, the stability rule requires her to ensure day-to-day expenditures are covered by current revenues, leaving her with limited flexibility if the UK’s already fragile economy worsens.

The Chancellor’s position is further complicated by rising inflationary pressures. Businesses surveyed by S&P Global reported passing higher costs, including those from rising National Insurance contributions, onto consumers through increased prices—a move that could curtail the Bank of England’s scope to cut interest rates and ease economic pressures. Analysts at Pantheon Macroeconomics warn that the Bank may need to maintain a tighter stance for longer, making the Chancellor’s balancing act even more challenging.

With economists at Capital Economics and the IFS expressing concern that the UK may already be flirting with recession—commonly defined as two consecutive quarters of negative growth—the spring statement is shaping up to be a critical juncture. Whether driven by unforeseen shocks or protracted stagnation, Ms Reeves may find herself forced to deliver another round of fiscal pain before the end of the financial year.

Read more:
Economists warn Chancellor may face emergency spring budget as recession risks loom

The owners of tens of thousands of family-run businesses and farms have urged Chancellor Rachel Reeves to revisit the inheritance tax changes announced in her recent Budget, warning they could trigger forced sales, job losses, and a marked reduction in investment.

In an open letter sent over the weekend, Family Business UK—representing 32 trade associations and about 160,000 family enterprises—called on Reeves to consult more widely and consider the longer-term fallout of the new measures.

These changes, set to take effect from August 2026, tighten inheritance tax relief so that family businesses passing on more than £1 million of assets will face a 20 per cent levy. The Office for Budget Responsibility estimates this will raise £520 million by 2029-30. However, Family Business UK argues the measures could lead to a £1.25 billion net fiscal loss due to diminished activity and job cuts.

Neil Davy, the organisation’s chief executive, described the reforms as a “hammer blow” to enterprises that often form the backbone of local economies. “In many cases, heirs may have no option but to sell up rather than continue running the business,” he said. “This risks driving valuable British assets and family farms into the hands of overseas buyers who pay little to no tax here.”

The letter also noted that some family business owners have postponed investment and frozen recruitment, as staff grow anxious about future impacts on their livelihoods.

Family Business UK is calling on the Chancellor to initiate a formal consultation on the policy, seeking a constructive solution that preserves the long-term interests of these enterprises and the jobs and investment they support.

While Labour maintains it must restore public finances after inheriting a multibillion-pound funding gap from the previous government, the letter’s signatories insist that tax reforms should not come at the expense of Britain’s family-owned economy.

Read more:
Family-owned firms call on Chancellor to rethink inheritance tax overhaul

Eight years ago, a small group of private investors placed what seemed like a high-risk wager on an unknown fintech start-up called Revolut. Now those early backers are on the brink of reaping near-millionaire returns, thanks to a decision by the company to let some of them sell a portion of their shares.

Investors who used the Crowdcube platform in 2016 originally paid $2.14 per Revolut share. Today, they have the option to sell part of their holdings at $865.42 per share—an astonishing 404-fold increase. The typical investment of about £2,300 could now be worth more than £900,000.

For years, only Revolut employees could cash in their shares when the company facilitated so-called “secondary” sales. This month, however, Revolut emailed its earliest supporters to say they too could sell some of their stake, enabling them to realise these life-changing gains.

The move comes amid a blockbuster secondary share sale, where over $1 billion worth of Revolut stock is changing hands. Among the new buyers are major global investors, including the Abu Dhabi-based fund Mubadala, private clients of Goldman Sachs, and prominent tech-focused investors such as Coatue Management and D1 Capital Partners.

When Crowdcube users bought into Revolut in 2016, the startup was pitching a simple but compelling idea: eliminating hidden fees and hassles when managing money or travelling abroad. With just 433 individuals investing a total of just over £1 million at the time, it was a niche bet.

Fast forward to today, and Revolut has grown into one of Europe’s most highly valued fintech companies. It now serves 50 million customers, secured a provisional UK banking licence this year, and is valued at $45 billion. Crowdcube’s spokeswoman praised the outcome, noting that while most crowdfunding investments never yield a return, Revolut’s success story stands out.

The original Crowdcube cohort now has the chance to sell up to $10.215 million worth of their shares in total—a compelling reminder that, amid the many crowdfunding ventures that go nowhere, there are rare instances where a gamble on an unknown startup can pay off in spectacular fashion.

Read more:
Revolut’s earliest crowdfunders set to pocket life-changing returns

UK private sector hiring has fallen at its fastest rate since the global financial crisis (excluding pandemic disruptions), compounding fears that the economy may be edging closer to recession.

Fresh data indicates that rising employment costs, triggered in part by Chancellor Rachel Reeves’s decision to hike business taxes, are prompting companies to shed staff and scale back investment as consumer demand softens.

According to December’s flash composite purchasing managers’ index (PMI) from S&P Global, business activity largely stagnated, remaining unchanged at 50.5 and hovering just above the critical 50-point threshold that separates growth from contraction. The survey results fell short of analysts’ expectations and signal that the robust expansion experienced earlier this year has dissipated.

Economists at Capital Economics suggest that the current PMI data is consistent with the UK economy contracting by as much as 0.3% quarter-on-quarter in the final months of 2024, raising the risk that Britain could enter a recession early next year. Two consecutive quarters of shrinking output define a recession, and recent indicators point to a challenging near-term outlook.

However, some analysts caution against reading too much into the PMI figures. Matt Swannell, chief economic advisor at EY ITEM Club, notes that the index tends to overreact to changes in sentiment, which has tumbled since the Chancellor’s late-October budget announcement, rather than reflecting underlying economic activity. Others add that the PMIs do not fully capture the impact of the government’s £70bn increase in public spending, which many expect to boost GDP growth and soften the blow of weaker private sector investment.

Encouragingly, the services PMI—a crucial bellwether for the economy’s largest sector—rose from 50.4 to 51.4, beating forecasts and hinting that the UK’s dominant industry could be regaining momentum. This improvement offset a drop in the manufacturing PMI, which declined to an 11-month low of 47.3 from 48 in November.

Economic data released earlier this month showed an unexpected 0.1% dip in GDP for October, confounding analyst predictions of modest growth. Businesses have reportedly been postponing investment and hiring decisions amid uncertainty over the Chancellor’s policies, including a planned increase in employers’ National Insurance contributions from 13.8% to 15% next April.

The labour market has been the biggest casualty of this uncertainty, with companies now cutting roles at the fastest pace since 2009, excluding pandemic-related downturns. KPMG and the Recruitment and Employment Confederation reported a sharp drop in job vacancies in October and November, further highlighting employers’ reluctance to commit to new hires amid rising costs and shaky demand.

Commenting on the data, Chris Williamson, chief business economist at S&P Global Market Intelligence, said: “UK business confidence has taken a hit, as employment slumps and inflation resurges. The upbeat sentiment from earlier in the year has faded as firms and households respond to the new Labour government’s more downbeat messaging and policies.”

Still, there may be room for optimism. A survey by GfK found that consumer confidence picked up in November and December, suggesting that households could be adjusting and regaining their footing now that future tax and spending plans are clearer. Similarly, the reacceleration in services activity may point to the beginning of a stabilization, as the sector typically responds closely to improvements in consumer sentiment.

Inflationary pressures persist, however, with private sector firms pushing through the fastest price hikes in nine months, especially in services. Economists expect the latest Office for National Statistics data to show that headline inflation rose to 2.6% in November from 2.3% in October, adding another layer of complexity to the Bank of England’s policy decisions. While other central banks around the world are rapidly cutting interest rates, the Bank of England is expected to hold steady at 4.75%, balancing the twin challenges of sluggish growth and stubborn inflation.

Thomas Pugh, economist at consultancy RSM, said: “The Bank of England is caught between a rock and a hard place. Softer growth and higher inflation will likely force it to ease monetary policy only gradually next year. Anyone hoping for an early Christmas present from the Bank at its next MPC meeting is likely to be disappointed.”

Read more:
UK private sector shrinks payrolls as weak demand and tax rises spur recession fears

Recent parliamentary revelations about widespread swindling at the South African Social Security Agency (SASSA) have brought renewed attention to the critical role of payment security systems in social welfare distribution.

According to an October 2024 parliamentary statement by ACDP MP Wayne Thring, over half a billion rand has been lost to fraudulent activities in the past decade. This situation, affecting a system that serves 28 million South Africans while drawing from a tax base of just 7.4 million contributors, presents a stark contrast to the period when Serge Belamant’s payment systems were implemented across South Africa’s social grant infrastructure via NET1 Technologies. The recent recovery of R150 million from ineligible beneficiaries, while welcomed by parliamentary oversight committees, represents only a fraction of the estimated losses, highlighting the urgent need for robust verification systems.

Historical Success in Fraud Prevention

The current challenges facing SASSA stand in marked contrast to the achievements of previous security implementations. When social grant fraud was estimated at R3bn annually, Belamant’s verification system achieved a significant reduction in fraud rates during its initial deployment. This system, implemented through NET1’s Universal Electronic Payment System (UEPS), delivered annual cost savings of approximately R2bn through enhanced security measures and efficient distribution methods. The technology’s success extended beyond South Africa, reaching five African nations and in Namibia alone, the system enabled the financial inclusion rate to rise from 51% to 78% over the past decade, surpassing the initial target of 74%.

Financial institutions implementing these systems reported operational cost reductions compared to traditional verification methods, while the South African Reserve Bank’s analysis indicated that biometric verification systems contributed to a significant reduction in grant payment fraud.

Current Challenges and Solutions

Belamant’s UEPS technology demonstrated that technological solutions to current challenges already exist, having previously achieved significant fraud reduction through biometric verification and secure payment protocols. The system’s original implementation created a secure distribution network processing R12bn in monthly transactions, significantly outperforming traditional banking infrastructure in rural areas. The parliamentary call for “immediate verification processes” aligns directly with the capabilities of these proven technologies, which previously demonstrated success in precisely this area. Their ability to process secure offline transactions while maintaining stringent verification standards offers a tested template for addressing current vulnerabilities in the social grant system.

Future Implications

As SASSA grapples with what MP Thring terms “ongoing fraud and corruption,” the historical success of Belamant’s security innovations offers valuable lessons for future implementations. Analysis from the McKinsey Global Institutesuggests that biometric verification systems, building upon these established patents, could facilitate financial inclusion for an additional 1.7bn individuals globally by 2025, with implementation costs averaging $2.30 per user compared to $7.40 for traditional banking infrastructure. The technology’s market impact continues to expand, with World Bank data indicating that countries implementing these systems have seen a 34% increase in formal banking participation ratesamong rural populations, while transaction costs have declined. Financial authorities across 12 African nations have now adopted regulatory frameworks specifically designed to accommodate these verification systems, with compliance costs for participating institutions decreased compared to traditional methods. As digital banking evolution continues, these foundational patents remain central to expanding financial access across underserved markets while maintaining the security integrity essential for social grant distribution.

Read more:
SASSA Internal Control Issues Highlight Value of Serge Belamant’s Universal Electronic Payment System

Choosing the best proxy provider may seem as simple as opting for the one with the largest pool of IPs, but it is not so easy at all. A great proxy offer aligns with your specific use case and provides reliable safeguards in case of failures.

Nowadays proxies have become essential tools for navigating the internet safely and efficiently.  Proxies enhanced privacy, bypassing geographical restrictions or performing data scraping to secure online activities. Though there are so many providers in the market, identifying the best one for your needs can be daunting. In this article, we have thoroughly researched and reviewed the most used 5 proxy providers of 2024 such as FineProxy.org, Proxy5.net, ProxyElite.info, OneProxy.pro, and ProxyCompass.com. Each of the proxies has unique features and advantages and from this article, you can get an overall idea about why these providers stand out, their pricing plan, and their specialty.

FineProxy.org

FineProxy.org is a reputable proxy server in the proxy industry, reliable for its extensive IP pool and versatile solutions.

Why Choose FineProxy.org?

The users who need a trusted provider with balanced speed, security, and versatility, FineProxy.org is the best solution for them. FineProxy.org provides one million IPs worldwide that cover diverse geographic locations.

Key Features

FineProxy.org holds a large pool of IP addresses for both IPv4 and IPv6 proxies.
It offers different packages like personal proxies, shared proxies, and premium proxies.
It delivers services in almost 69 countries.
High speed provides web browsing, data scraping, and other online activities.

Pricing Plan:

Basic Plan: 10$ for 100 IPs.
Premium Plan: $50 for 1000 IPs.

Proxy5.net:

Proxy5.net is known for providing reliable and affordable proxy solutions, offering a wide range of features to cater to the needs of all types of users.

Why choose Proxy5.net?

Proxy5.net is best for its affordability and simplicity. It is the first choice among the small business and frugal people who are at the beginner level. With inexpensive proxy services, it provides high levels of privacy and security. 

Key Features

Proving web scraping and browsing by hiding your name ensures security.
Facilitates multidimensional options like private, rotating, and data center proxies.
Its API support allows developers to integrate easily.
Provides unlimited bandwidth with high-speed connections.

Pricing:

Datacenter proxy: $15 monthly for 100 proxies.
Private proxy: $3 for a month.
Professional: $45 charged for 2 mill proxies.

ProxyElite.info

ProxyElite.info is trusted as a premium residential proxy provider giving high anonymity and security for users. 

Why choose ProxyElite.info?

The people who need premium types of proxies to do confidential work like market research, competitor analysis, or accessing geo-restricted content ProxyElite.info is the best solution for them. Its premium and high anonymity quality are the main reasons to choose ProxyElite.info providers.

Key Features:

Reliable for web scraping and confidential works.
User-friendly dashboards for beginners.
High speed and security in online activities.
Wide range of IP protocols in different locations.

Pricing Plans:

Bronze plan: $25 for 50 proxies.
Silver plan: $75 monthly for 200 proxies.
Golden plan: $150 monthly for 500 proxies.

Oneproxy. Pro:

Oneproxy.pro is popular for its high-speed data center proxies and premium features. With privacy and anonymity Oneproxy.pro all tasks including SEO, social media management, and data scraping. 

Why choose Oneproxy.pro?

For users who are looking for excellent and affordable options for businesses, oenproxy.pro is the best solution for them. It has multiple protocols and also provides custom proxy solutions. This versatile proxy solution always prefers customers’ preferences.

Key Features:

Oneproxy.pro is optimized as a high-speed high-speed data center that is ideal for online tasks.
Its strong encryption protects users’ data.
Its handy interface is easy to use for beginners.
High uptime and reliable to use.

Pricing plan:

Basic Plan: 20$ monthly for 200 IPs.
Premium plan: 60$ monthly for 800 IPs.

ProxyCompass.com:

ProxyCompass.com is known as a trusted proxy that has many options such as residential, data center, and mobile proxies for users.

Why choose Proxycompas.com?

Users who are seeking both static and rotating proxies for diverse applications can go through Proxycompass.com. It is a reliable source for research, content streaming, and gaming with global coverage and scalable solutions.

Key Features

Proxycompass.com provides a wide range of proxy types.
It’s manageable for both small-scale and large-scale users.
247 hours customer support.
Unlimited bandwidth with high speed.

Pricing Plan

Basic: 25$ for 250 IPs
Premium: 75$ for 1000 IPs.

Closing Words

Finally, it can be said that, selecting the right proxy service is a very daunting task as there are many options available in the market. This article reviewed the most demanding top 5 proxy services which have unique characteristics and user can use these based on their preferences.

FAQs

Q1. Can I Trust My Proxy to Protect My Privacy?

Yes, you can. But you need to choose wisely which is reliable based on their review and reputation. The above-listed proxies provide advanced security to safeguard your data.

Q2. What Are the Best Proxies for Streaming?

Proxies which are fast speeds and reliable connections are ideal for streaming like Proxy5.net and ProxyElite.info.

 Q3 Is It Illegal to Use Proxy Servers?

Proxy servers are legal in most regions as long as they are not used for unlawful activities. But you should follow your country’s laws.

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How to choose the best proxy provider in 2024?

In the eyes of a potential customer, what differentiates your brand from that of any other construction business?

There might be factors like how well-known you each are, what kind of imagery you used in your marketing materials and the quality of your user reviews, but the core of your company might come across as ultimately non-descript among the wider industry.

It can be difficult to change that when you’re just trying to let the results of your work speak for themselves. However, to further that end, you might consider how unveiling aspects of your process might impact audience perception.

How You Achieve Those Results

A peek behind the curtain can be valuable at times in order to give prospective customers an idea as to what they’re getting themselves into – what they can expect from working with you. In highly technical industries, too much information can be off-putting due to the overwhelming jargon that can come with it, but just enough can improve the customer experience by making audience members feel as though they learned something.

For construction jobs, for instance, those having something built might want to know what you’re doing to achieve your results. This might be either out of curiosity or to compare it with something that they’re already familiar with. It can also help people understand the scale of the project, whether you’re using Machinery Partner impact crushers or tools that are more localized and used by a smaller group of people – each gives an idea of how the project will unfold.

A Positive Space

It might be that your business is one that aims to be a positive place to work for all. Employees work their best when they’re happy and comfortable, so if you’ve taken the time to develop such a workplace, it does you good to get that information out there. Of course, reviews from those who have worked with you previously and the rate of your staff turnover will speak for themselves, but it’s not just new applicants that you’re trying to appeal to.

Audiences might feel better about supporting a business that has concern for people and their wellbeing. After all, if that’s how you treat your staff, then it bodes well for how you’ll treat your customers.

Environmental Considerations

If you’ve taken strides to incorporate environmental or sustainable values into your work, this is something that’s well worth working into your branding. This is something that you want people to know about – especially if you’re in an industry where people are desperately craving a green alternative. In fact, many businesses are so eager for customers to have this perception of their brand that they fall into the trap of greenwashing, falsifying the truth of their sustainable practices to reap potential rewards.

Again, it’s not just your customers that might respond well to these kinds of practices, however. People who are looking to develop their careers in this industry might relish the opportunity to work with a brand who’s concerned about making a positive difference.

Read more:
Should Your Methods Impact Your Branding?

Having a successful legal career is more about embracing learning as a life-long practice and less about mastering one set of skills and calling it a day.

While rewarding (both intellectually and financially), this career also demands constant sacrifices, mostly in the form of your time, which is not refundable – you simply must put in the hours to remain knowledgeable, sharp, and persuasive.

But in addition to traditional learning as a life-long practice, what skills should you focus on learning to stay competitive? Here are seven to add to your arsenal in 2025.

Tech-Savviness

Like any sector it touches, technology is reshaping the legal profession. So in 2025, you’ll need more than a passing familiarity with legal tech tools to remain competitive. Document automation, AI-based contract analysis, e-discovery platforms – these have all become baseline competencies.

You’re expected to understand how to implement these tools to boost efficiency and reduce errors, but it goes beyond using software. You’ll also need to grasp data privacy regulations, cybersecurity measures, and how technology affects client confidentiality. Staying current with emerging technologies (blockchain contracts, anyone?) will also set you apart.

Staying Current with Evolving Laws and Policies

Laws and regulations are changing faster than ever, especially in sectors like fintech, data protection, and environmental law. If your practice spans multiple jurisdictions, you’ll need to stay agile. Policies on digital assets in the UK today might look very different by 2025, let alone policies in the EU, US, or Asia.

Bar exams are another area that reflects regional differences. For example, in the United States, while there is some reciprocity concerning different state bars, each state has its own requirements.

This means that if you pass the bar in Texas, but want to practice in New York, you’d have to obtain a license in New York. Quimbee has a great Texas bar review guide that can help you navigate the specifics of that state’s exam. The point is, you need to understand these differences and nuances to ensure you’re equipped to handle multi-regional practices or cross-border cases.

But keeping up with regional laws isn’t just about compliance: it’s also about anticipating how changes might impact your clients’ business strategies. For instance, if you’re advising a fintech startup, knowing what’s on the horizon for crypto regulations could make or break their next product launch.

Entrepreneurial Thinking

Even if you’re not planning to launch your own firm, understanding entrepreneurship can give you a huge advantage. Why? Because many of your clients are entrepreneurs themselves. They think in terms of growth, risk, and innovation, and if you’re able to understand their mindset, you’ll give better advice, anticipate their needs, and build stronger relationships.

Plus, entrepreneurial thinking helps you manage your own career more strategically. Whether you’re in a firm or going solo, seeing yourself as a business within a business (or a brand within a practice) helps you make smarter decisions.

Effective Communication

Clients have always wanted clarity, not jargon, and this, at least, hasn’t changed, nor will it. Legalese might still impress other lawyers (even though most not only dislike it but don’t understand it, either), but in 2025, business clients expect you to translate complex issues into clear, actionable insights.

And this goes for both writing and speaking. Whether you’re pitching to a board, drafting a contract, or updating a client on case progress, plain language almost always wins.

But of course, good communication doesn’t stop at clarity; listening is equally important. Understanding your client’s pain points and goals ensures you’re solving the right problems.

Data-Driven Decision-Making

As a lawyer, you’re constantly making decisions. And increasingly, those decisions rely on data. In 2025, you’ll need toknow how to gather, analyze, and interpret data to support your arguments, strategy, or case predictions.

Whether you’re assessing litigation risks, reviewing case outcomes, or advising on compliance, data helps you make informed recommendations. And no, this doesn’t mean you need to be a data scientist. But understanding basic analytics and how to apply data insights gives you an edge.

Adaptability

If the last few years taught us anything, it’s that adaptability is non-negotiable. The legal profession will continue to face disruption, from economic shifts to technological advancements. How quickly you adapt to change will determine your success.

This means being open to new ways of working, new practice areas, or even new roles within the legal ecosystem. Keep in mind that flexibility keeps you resilient. And resilient lawyers are lawyers who stay in the game.

Read more:
What Business Skills Do Lawyers Need in 2025?

The Business Secretary is facing accusations of failing to fully engage with Vauxhall’s parent company Stellantis ahead of its decision to close the van-making plant in Luton—a move that puts up to 1,100 jobs at risk.

Critics claim the Government neglected to maintain meaningful dialogue for months despite an early warning of potential closure.

Stellantis, which owns the Vauxhall brand, announced last month that it would consolidate its British operations at Ellesmere Port in Cheshire, citing the UK’s stringent zero-emission vehicle quotas as a “significant factor” in its choice to close the Luton site. The news arrives against a backdrop of several major automotive plant closures over the past decade, raising fresh doubts about the future of car manufacturing in Britain.

Jonathan Reynolds, the Business Secretary, met Stellantis representatives on three occasions in July—shortly after Labour’s election victory—when the Government was first alerted to the company’s inclination towards a Luton shutdown. However, according to parliamentary records, no further ministerial meetings took place until 26 November, the same day that Stellantis publicly confirmed the closure plans.

Andrew Griffith, the Shadow Secretary of State for Business and Trade, who tabled the parliamentary question, criticised the gaps in engagement. “It’s clear the Government was not taking the issues at Luton seriously,” Griffith said. He added that the Chancellor’s recent budget, with its additional pressures such as the National Insurance rise, may have further complicated the environment for manufacturers.

Sources within Whitehall insist that Stellantis remained in contact with officials from both the business and transport departments during the summer and autumn, discussing possible support measures for their UK sites. When announcing the closure, Reynolds defended the Government’s role before the Commons Business and Trade Select Committee. He noted that the Government had been aware of Stellantis’s concerns from early on and had repeatedly urged the company to reconsider.

In response to the crisis, Reynolds has launched a consultation on the UK’s zero-emission vehicle mandate, under which 22% of each carmaker’s 2024 sales must be zero-emission—rising sharply to 80% by 2030. Industry voices have warned this timetable may be overly ambitious given weaker-than-expected market demand, risking investment and jobs if not managed more flexibly.

A spokesperson for the Department for Business and Trade stressed that the Government remains committed to the automotive sector. They pointed to ongoing financial support, including more than £300 million to encourage electric vehicle uptake and £2 billion earmarked to aid domestic industry’s transition to net zero.

Meanwhile, Unite, the trade union, has called on Stellantis to suspend the Luton closure as the company seeks a new chief executive and considers strategic adjustments. The union argues that fresh leadership could pave the way for a different approach, potentially safeguarding jobs and helping the UK retain a robust automotive manufacturing base.

Read more:
Business secretary under fire over delayed talks as Vauxhall confirms Luton closure

The UK’s labour market is coming under intense strain as the number of applications per advertised job surges dramatically, reflecting deep-rooted economic uncertainties and a tight hiring climate.

According to data from talent acquisition platform Tribepad, the average number of applications per vacancy hit 48.7 in November—an astonishing 286% increase on the same month last year. In raw terms, candidates are sending out far more CVs: total applications between September and November soared to more than 4.5 million, a 64% rise on the year.

The figures were released just weeks after the Chancellor’s autumn budget, which has prompted businesses to rein in spending and hiring. Tribepad’s analysis indicates a 24% year-on-year drop in roles advertised between September and November, despite a modest seasonal boost as retailers and hospitality firms scaled up for the festive period. November alone saw a particularly sharp dip, with job postings falling by 43% compared to 2023.

This imbalance—few jobs and a glut of applicants—is putting employers and candidates on edge. Despite the rollout of shared hiring platforms and automated recruitment tools, employers are facing a flood of applications that can be difficult to manage. Some analysts suggest the spike may be partly due to job hunters using artificial intelligence to generate more applications more swiftly, seeking to maximise their chances in a cut-throat environment.

Meanwhile, workers are feeling the squeeze. After 28 consecutive months of declining vacancies, opportunities are scarce and competition fierce. While certain sectors, including retail and hospitality, offered a brief autumn reprieve, many businesses are either scaling back permanent hires or shifting resources elsewhere.

Dean Sadler, chief executive of Tribepad, said: “The surge in applications per job to nearly 50 on average is a clear sign of an extremely competitive market. Employers must rethink their recruitment strategies not just to handle the volume efficiently, but to ensure fairness and remove bias. It’s critical that, despite the influx, the hiring process remains equitable, offering everyone a fair chance.”

With economic headwinds continuing to bear down on businesses and households alike, the UK’s labour market looks set to remain a challenging battleground into the new year.

Read more:
Record surge in job applications as UK vacancies dwindle