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Sir James Dyson has strongly criticised Chancellor Rachel Reeves’ latest Budget, describing the new inheritance tax policy as a “spiteful” move that threatens the future of family businesses in the UK.

Under the changes, family-owned businesses and farms worth over £1 million will face a 20 per cent inheritance tax starting in April 2026, a measure Dyson argues could lead to the “death of entrepreneurship” and dismantle the foundation of the British economy.

Writing in The Times, Dyson accused Reeves of “killing off established family businesses” with the so-called “Family Death Tax,” cautioning that this policy undermines long-term business continuity and discourages new ventures. “No business can survive Reeves’s 20 per cent tax grab,” he argued, highlighting the risk of job losses in a sector that, he says, traditionally values stability and generational commitment.

In defence of the Budget, Home Secretary Yvette Cooper rejected Dyson’s remarks, asserting that the measures were necessary to address “the shocking state of public finances.” Cooper stated that the tax changes were part of a strategy to “fix the foundations” of the economy and fund critical public services, including the NHS. She emphasised that, while the policy involved difficult decisions, it was essential for building a stronger financial foundation.

The inheritance tax changes come amid a broader £40 billion tax increase aimed at supporting the NHS and other public services. However, critics argue that the tax on family farms, expected to raise £520 million annually, would cover less than a day’s NHS spending. National Farmers Union president Tom Bradshaw warned of a mental health crisis among farmers, with many expressing concern that the tax could force them to sell or significantly alter their businesses.

Rachel Reeves defended the inheritance tax changes on Sunday with Laura Kuenssberg, stating that agricultural property relief primarily benefited “the wealthiest landowners” and was no longer sustainable given current fiscal pressures. She argued that redirecting funds from these reliefs into public services would ultimately benefit all, including rural communities.

As rural voters and family businesses react to the policy, Labour faces pressure to balance tax reform with the unique needs of these sectors, particularly ahead of local elections in May.

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James Dyson condemns ‘spiteful’ inheritance tax in budget, warns of impact on family businesses

High street retailers are preparing for a difficult Christmas trading period, as higher taxes and mounting costs raise concerns over the viability of many businesses in town and city centres.

A recent report from advisory firm BDO revealed that in-store sales in October grew by only 1.7% compared to the previous year, highlighting the struggles facing retailers even before last week’s budget, which included a £25 billion tax increase on employers.

The combined retail sales, including online, rose by 4.1% year-on-year, but sectors such as fashion and homeware underperformed. BDO’s head of retail and wholesale, Sophie Michael, expressed concern over the weak start to the festive season, noting that sales volumes are “not back to 2022 levels.” Michael warned that if sales continue at this pace, the industry could face an “exceptionally tough festive period.”

The Chancellor’s budget added to these worries with a 1.2 percentage point rise in employers’ National Insurance to 15%, effective from April, alongside a lowered threshold for contributions. Retailers also face a 6.7% rise in the minimum wage next April, which could drive up employment costs by as much as 10% for some businesses.

BDO warns that these increased expenses will likely stymie high street investment, with retailers potentially forced to halt expansion or refurbishment plans. With the festive period crucial for the sector, the added costs and economic pressure could see more stores reconsider their presence on the high street, exacerbating challenges in town and city centres across the UK.

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High street retailers face bleak festive season amid tax hikes and rising costs

The Unite union has issued a stark warning to the UK government over its controversial decision to cut the winter fuel payment for millions of pensioners, threatening to pursue a judicial review if the policy isn’t reversed.

Initially announced in July and confirmed in the latest budget, this policy aims to address a £22 billion gap in public finances. However, it has sparked widespread criticism, with Unite general secretary Sharon Graham calling it a “cruel” measure that “picks the pockets of pensioners.”

As a result of the cuts, up to 10 million pensioners will lose winter fuel payments worth between £100 and £300. Only those on pension credit or other means-tested assistance will continue receiving the benefit. Graham urged the government to reconsider, stating it is “not too late” to “do the right thing” and reinstate the payment for all pensioners.

Unite’s legal team sent a pre-action letter to the government on 29 October, naming Works and Pensions Secretary Liz Kendall as a proposed defendant. The letter argues that the government failed to conduct a thorough assessment of the policy’s impact on vulnerable groups, especially amid escalating living costs and cold weather risks. Although the government released a limited “equalities analysis,” it admitted there was no comprehensive assessment.

Unite insists the government had a duty to consult the Social Security Advisory Committee and gather further evidence on the cuts’ impact, particularly on vulnerable and disabled people. With cold weather on the horizon, the letter describes the situation as “urgent” for pensioners who risk “disconnection” and are already cutting back on essentials.

The government responded by reaffirming its commitment to supporting pensioners through the triple lock, which will raise state pensions by up to £1,700 during this parliamentary term. It also highlighted other measures, including the warm home discount and the increase in pension credit claims.

Prime Minister Sir Keir Starmer defended the “tough” decision, attributing it to financial pressures inherited from previous governments. In Scotland, a couple has also secured permission to pursue a separate legal challenge against both the UK and Scottish governments over the benefit’s removal, underscoring the broad opposition to the policy.

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Unite union threatens legal action over cuts to pensioners’ winter fuel payments

Protectionist trade policies, such as those proposed by Donald Trump, may inadvertently harm U.S. manufacturing firms by increasing input costs, leading to reduced investment, according to a study from the Frankfurt School of Finance & Management.

With tariffs central to Trump’s economic vision, manufacturers may face higher costs on imported goods if he is re-elected, a move that researchers suggest could discourage sector-wide investment. The study, led by Associate Professors Thorsten Martin and Clemens Otto, found that a 10% decrease in tariffs on upstream manufacturing inputs can lead to a 4-6% rise in investment by U.S. firms using these goods in production.

The research focused on the effects of tariff changes on raw materials and key inputs, including steel and aluminium, essential across many manufacturing sectors. By analysing historical import data and investment patterns, the study revealed that reduced input costs stimulate investment, boosting profitability, productivity, and employment across the manufacturing industry.

“Protectionist policies like tariffs can seem beneficial in protecting domestic industries from foreign competition in the short term, but they often backfire by raising costs on essential production inputs,” Professor Martin explained. Higher tariffs on raw materials and standardized products ultimately harm U.S. manufacturing by reducing competitiveness, with downstream industries especially vulnerable.

The findings suggest that if the U.S. imposes tariffs on early-stage production materials, as seen in Trump’s tariffs on steel and aluminium, manufacturing investment and sector-wide growth could decline, negatively impacting the broader U.S. economy.

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Research suggests Trump tariffs could hinder U.S. manufacturing investment

Seventeen UK businesses, including Crate Brewery in Hackney and the British Society for Immunology, are launching a six-month trial of the four-day working week with over 1,000 employees participating.

Organised by the 4 Day Week Campaign, this trial lets workers maintain full pay while working only four days each week.

This follows a successful trial in 2022, where 56 out of 61 participating companies permanently adopted the shorter week after reporting improved staff morale, reduced stress, and no negative impact on performance.

The trial will run until April, with data on employee wellbeing, productivity, and burnout collected by researchers from Cambridge University, the Autonomy Institute, and Boston College. Findings will be presented to the government next summer, offering further insight into the feasibility of a four-day work model.

Labour has shown interest in flexible work options, with Deputy Prime Minister Angela Rayner stating that it poses “no threat to the economy.” Joe Ryle, director of the 4 Day Week Campaign, champions the model for offering “50 per cent more free time and no loss in pay,” promoting happier, more fulfilling lives.

For companies like Crate Brewery, the trial offers a unique advantage in the hospitality industry. Georgia Pearson, the company’s people manager, remarked that this “groundbreaking” shift not only supports employee wellbeing but also provides a competitive hiring edge. Doug Brown, CEO of the BSI, expressed optimism for improved work-life balance among staff, while underscoring the importance of maintaining high service standards.

Already, close to 200 UK companies have adopted the four-day week, and a recent survey by Owl Labs suggests that 1.5 million UK employees are working four-day weeks, showing growing interest in this approach across the workforce.

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More than 1,000 UK employees trial four-day working week without pay cut

The Treasury’s bank referral scheme, intended to increase finance access for small businesses, has come under heavy scrutiny after a recent review revealed it has secured loans for only one in twenty companies referred.

Under the scheme, nine major banks are required to refer small businesses they decline for loans to independent platforms that connect them with alternative finance sources.

Launched in November 2016, the scheme has facilitated 5,387 deals worth around £128 million—averaging £24,000 per loan. Yet, with gross SME lending at £4 billion for the recent quarter, these figures represent only a minor contribution to the sector. The Treasury acknowledged that it had expected a “higher conversion rate” and admitted that the number of businesses securing finance was “smaller than anticipated.”

FundOnion’s CEO, James Robson, criticised the initiative, stating it took “ten years” for the government to acknowledge the scheme’s limited impact, which he described as “shockingly low” given the estimated £22 billion funding gap facing SMEs. Robson contended that arranging approximately £1 million a month “is not even a drop in the ocean” when considering the financing needs of small businesses.

Despite the underwhelming outcomes, the Treasury defended the scheme, saying it had “generally met its objectives” by raising awareness of financing options and improving access to smaller lenders. However, Katrin Herrling, CEO of Funding Xchange—one of the scheme’s referral platforms—pointed out that 94% of referred businesses lack a finance-worthy profile, often due to factors such as limited trading history or poor credit.

Herrling also noted a lack of feedback mechanisms within the scheme, leaving many small businesses unclear about why banks reject their loan applications. Ian Cass, managing director of the Forum of Private Business, echoed these sentiments, attributing the scheme’s failure in part to long-standing disengagement from traditional banks with smaller business clients.

Initially announced by George Osborne in 2013, the scheme’s launch faced delays due to design disagreements. Under the current setup, businesses that agree to participate receive offers from alternative lenders, including online providers and independent finance houses. However, the Treasury acknowledged “frictions” impacting the scheme’s effectiveness, such as the requirement for physical signatures, data quality issues, and incomplete referrals by some lenders.

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Treasury’s bank referral scheme falls flat, securing loans for only 1 in 20 small businesses

The UK Government has launched GOV.UK Forms, a new digital tool designed to make it faster and easier for the public to access essential government services online.

Following a successful pilot phase, the platform is now set for rollout across all government departments, allowing citizens to complete applications and forms online without the need for paper-based processes.

GOV.UK Forms has already proven effective, helping over 20,000 armed forces personnel apply for veteran badges and supporting victims of the Horizon IT scandal in accessing compensation quickly. The tool has also streamlined processes for XL Bully dog registrations and coastguard recruitment, saving an estimated two years in processing time.

Minister for AI and Digital Government Feryal Clark, who announced the rollout at the Digital Nations Ministerial Summit in Copenhagen, highlighted the platform’s potential to modernise public services and reduce administrative burdens, allowing government departments to focus resources on enhancing service quality.

Since its inception, GOV.UK Forms has published 87 forms used by over 1,200 civil servants, making the process more accessible and secure. The platform also meets government accessibility standards, ensuring it’s user-friendly for individuals with access needs. Christine Bellamy, CEO of the Government Digital Service, noted that GOV.UK Forms empowers government teams to create and manage online forms without coding skills, enabling a more efficient, digital-first approach to public engagement.

With the launch of GOV.UK Forms, the UK Government is taking a significant step towards digital transformation, simplifying citizen interactions with government and making public services more accessible, efficient, and secure.

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GOV.UK Forms to streamline public access to government services across the UK

In its first Autumn Budget, the Labour government has committed £500 million to improve broadband speed and mobile coverage across the UK, with a particular focus on rural areas.

Chancellor Rachel Reeves highlighted that the funding will bolster ongoing projects like the £5 billion Project Gigabit, targeting 99% gigabit broadband by 2030, and the £1 billion Shared Rural Network (SRN) initiative, which aims for 95% 4G mobile coverage by 2025.

The new funding supports Labour’s goal of universal gigabit and 5G availability by 2030, though questions remain about the allocation of the original Project Gigabit budget, with £1.5 billion still unallocated.

Sachin Agrawal, UK Managing Director at Zoho, praised the funding, stressing the importance of connectivity for rural businesses in driving local economic growth. He added that improved broadband and mobile networks could encourage businesses to operate outside congested urban centres, reducing costs and supporting flexible working models that benefit both employees and communities.

With reliable internet infrastructure seen as essential for seamless remote work, the £500 million investment is expected to improve digital access, supporting a more distributed and resilient economy across the UK. The budget’s emphasis on connectivity reflects the government’s commitment to bridging the digital divide and enabling rural areas to thrive in an increasingly digital economy.

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UK government pledges £500m to expand broadband and mobile coverage in rural areas

Javid Javdani is an entrepreneur and the owner of Balboa Market, an international food market located in San Diego, California.

Originally from Iran, Javid Javdani moved to the United States in 1982 and brought with him a deep appreciation for the role food plays in connecting people across cultures. After a successful two-decade career as a pharmacist, he transitioned to entrepreneurship, driven by his passion for community engagement and cultural exchange. In purchasing a small grocery store in San Diego’s Clairemont neighborhood, Javid transformed it into a thriving international market known for its high-quality, authentic products from around the world.

Under Javid’s leadership, Balboa Market has become a cultural hub, providing a unique shopping experience for the diverse communities in San Diego. His careful selection of authentic products—ranging from Middle Eastern spices to Latin American staples—ensures customers can find ingredients that reflect their heritage, while also introducing others to new flavors and culinary traditions. Committed to quality and authenticity, Javid applies a meticulous approach to sourcing and safety, ensuring all products meet the highest standards.

Beyond just a place to shop, Balboa Market serves as a gathering spot, with events such as cooking demonstrations and tastings that foster community connection and cross-cultural exploration. Javid’s work exemplifies his dedication to offering an inclusive, welcoming space that celebrates diversity, bridging cultures through food and contributing to San Diego’s vibrant cultural landscape.

What inspired you to transition from your career as a pharmacist to owning an international food market?

It wasn’t a decision I made overnight. I spent nearly two decades in pharmacy, and while I found the work fulfilling, I felt there was something more I wanted to do that connected with my heritage and love for community. As an immigrant, food has always been a powerful link to home. I remember the first time I found the right spices and ingredients from Iran here in the U.S.; it immediately brought back memories of family gatherings and meals back home. When I came across the opportunity to buy a small grocery store in San Diego, I saw it as a way to help others experience that same feeling—to create a place where people could find the ingredients that reminded them of their roots, while also introducing others to flavors they hadn’t encountered before.

What were some of the biggest challenges you faced when you first took over the market?

There were quite a few challenges, honestly! First was sourcing authentic products. Finding suppliers who could provide ingredients that met the quality and authenticity standards I envisioned wasn’t easy. I had to build relationships with suppliers, both locally and internationally, and it took time to find the ones who aligned with my commitment to quality. Another big challenge was learning the ins and outs of running a food retail business. Pharmacy and food retail are different worlds, so there was a lot of trial and error in managing inventory, understanding customer preferences, and building a loyal customer base. I quickly realized that people were looking for fresh, high-quality ingredients that they could rely on.

How did your background in pharmacy influence the way you manage Balboa Market?

My time in pharmacy taught me the importance of precision and care, and those principles are definitely part of how I run the market. In pharmacy, safety and quality are non-negotiable; every product needs to be handled with care. At Balboa Market, I make sure we have rigorous standards for the products we sell, especially with perishables like produce and meats. We store items properly, monitor freshness, and train our staff to handle food safely and respectfully. My background also gave me a strong foundation in customer service. As a pharmacist, I had to connect with people and understand their needs, and that approach has carried over to how I engage with customers here at the market.

What does a typical day look like for you as a market owner?

Every day is different, which I really enjoy. I usually start the day by checking in with my team and reviewing inventory. Freshness is our top priority, so I want to make sure our produce, dairy, and other perishable items are in the best possible condition. Then, I spend time on sourcing. I’m constantly looking for new suppliers and products that will add variety to the market and meet our standards. I also interact with customers daily—it’s one of my favorite parts of the job. People from all over San Diego come in, and it’s wonderful to see them find ingredients that are meaningful to them or discover something new. Occasionally, we host cooking demonstrations or tastings, which gives me a chance to share our products in a more personal, interactive way.

How has Balboa Market impacted the local community?

I’m grateful that the market has become a place where people feel connected to their culture and each other. San Diego is incredibly diverse, and Balboa Market reflects that. We’re not just a grocery store; we’re a gathering place. Customers often share stories with me about how finding a specific spice or ingredient makes them feel closer to home, and that’s exactly what I wanted to achieve. We also have regulars who come in to explore foods from other cultures, which is wonderful to see. It’s been rewarding to watch the market become a small cultural hub, bridging communities through food. We recently introduced some cooking classes, too, where people learn how to cook dishes from different parts of the world, and it’s been amazing to see how much people enjoy connecting in that way.

What advice would you give to someone interested in starting a food-related business?

Start with a clear vision and stay committed to it. For me, it was all about quality and authenticity. Food has such a strong cultural significance, and if you’re providing people with ingredients they love and trust, you’re giving them a piece of home or a new experience to enjoy. Be ready for challenges because they will come, especially with sourcing and maintaining quality. Building good relationships with suppliers and understanding your customer base is crucial. Also, don’t be afraid to learn as you go. I wasn’t trained in food retail, so there was a lot of learning in those first few years. And finally, connect with your community—listen to what they want and value, and show them that you care about their experience. It makes all the difference.

Looking ahead, what are your future goals for Balboa Market?

I’d like to expand our offerings even further. We’re constantly adding products from different regions, and I want to make sure we keep up with the diversity of our community. I’m also looking into more sustainable practices, such as eco-friendly packaging and waste reduction. On a community level, I hope to host more events that celebrate cultural heritage and bring people together. The goal is for Balboa Market to be a place that represents not just great food but a welcoming space for everyone.

Read more:
From Pharmacy to Market: Javid Javdani on Building a Cultural Hub Through Food

Missing a connecting flight can turn any trip into a stressful experience. Whether due to a delayed initial flight, tight scheduling, or long queues at security, the consequences can be frustrating and sometimes costly.

Understanding your options and rights, particularly regarding compensation for missed connecting flights, can help you manage the situation effectively.

Assess the Situation Immediately

As soon as you realize that you will miss or have missed your connecting flight, assess your immediate options:

Contact Airline Staff: Inform the nearest airline representative about your situation. Airlines typically handle missed connections proactively, especially when all your flights are booked under a single reservation.
Use Airport Services: Look for customer service desks at the airport to explore rebooking options or to obtain up-to-date information directly from the airline.

Know Your Rights for Compensation

The right to compensation for missed connecting flights can vary based on the region and the specific airline’s policies. In the European Union, the EU Regulation 261/2004 provides clear guidelines. This regulation may entitle you to compensation if you arrive at your final destination more than three hours late due to missing your scheduled connecting flight, provided the missed connection was caused by the airline (e.g., a delay in your initial flight).

Steps to Take When You Miss a Connecting Flight

Get Rebooked: The most immediate concern is to find an alternative way to reach your destination. Airlines are responsible for arranging the next available flight to your final destination if you’ve missed a connection due to reasons within their control. If the next available flight doesn’t depart until the next day, the airline may also provide accommodations and meals.
Claim Compensation: If applicable, claim compensation for the inconvenience. The amount of compensation depends on several factors, including the length of the delay and the distance of your flight. For example:

Short distances (up to 1,500 km) may entitle you to €250.
Medium distances (1,500 km to 3,500 km) could be eligible for €400.
Long distances (over 3,500 km) might qualify for up to €600.

It’s important to note that compensation is only due if the delay was within the airline’s control and not caused by extraordinary circumstances such as weather or political unrest.

Collect Documentation: Gather all necessary documentation that supports your case for compensation, including boarding passes, booking confirmations, and receipts for any additional expenses incurred.
Communicate Effectively: When discussing your missed connection with airline staff, be clear but polite. Provide all the relevant information and ask direct questions about your rights and what the airline can do to assist you.

How to Prevent Missing a Connecting Flight

While some situations are unavoidable, there are several steps you can take to minimize the risk of missing a connecting flight:

When booking your flight, consider choosing longer layovers to give yourself a buffer between connections.
Know the layout of the airports you will be transiting through, especially if they are large or unfamiliar.
Keep an eye on the status of your flights throughout your travel day. Airlines’ apps and text notifications can provide real-time updates.

Conclusion

Missing a connecting flight can be challenging, but understanding your rights and options can relieve you of the stress involved. By taking proactive steps to manage your travel itinerary and knowing how to claim compensation when appropriate, you can handle these disruptions with confidence and minimal impact on your journey.

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I Missed My Connecting Flight. What Can I Do?