News

Excessive regulation could turn the City of London into a “graveyard” by stifling innovation and risk-taking, Sam Woods, chief executive of the Bank of England’s Prudential Regulation Authority (PRA), has warned.

Speaking at the City’s annual banquet at Mansion House, Woods cautioned that while financial regulations are necessary for stability, over-regulation could suffocate the financial sector’s ability to drive economic growth.

Woods described risk as the “lifeblood” of a thriving economy, arguing that attempting to eliminate it altogether would hinder innovation and leave the City stagnant. “Risk is the lifeblood of a thriving capitalist economy, fuelling growth and innovation,” Woods said. “The whole point of having a strong financial system is to enable society to take risks.”

His comments come amid growing concerns that Britain’s efforts to make financial institutions safer are becoming counterproductive. Woods acknowledged that the balance between regulation and risk management is difficult but crucial, noting: “It’s implausible that good businesses can thrive in an environment of ever-expanding regulation.”

Woods pointed to recent moves by the PRA, such as the decision to abolish the cap on bankers’ bonuses, as evidence of regulators taking steps to reduce the burden on the City. The cap had been “damaging to competitiveness,” he said, and scrapping it sent an important signal of intent that unnecessary regulations should be rolled back.

The Financial Conduct Authority (FCA) has also faced criticism over its increasing regulatory requirements. In February, the FCA was under fire for proposals to “name and shame” companies under investigation, and it has also faced complaints regarding rules around diversity and inclusion disclosures. Jeremy Hunt, the former chancellor, introduced a new mandate for regulators, including the FCA and PRA, to consider economic growth as a “secondary objective” to their regulatory duties. The move was seen as a direct response to concerns that regulators were holding back the City’s growth potential.

Sir Keir Starmer, who has largely followed the previous government’s regulatory approach, reinforced this direction by urging regulators to take economic growth seriously. Speaking at the International Investment Summit, Starmer said the government would force regulators to focus on growth as a priority.

Nikhil Rathi, chief executive of the FCA, echoed Woods’ sentiments, describing the new growth mandate as “liberating” and leading to more open conversations about risk. Rathi and Woods both stressed the importance of striking the right balance between maintaining stability in the financial system and allowing enough flexibility for businesses to grow and take calculated risks.

David Postings, chief executive of UK Finance, the banking lobby group, agreed, saying: “If we can collectively get the balance right between risk and protection for consumers, this will help in supporting economic growth and financial inclusion in the UK.”

As regulators face mounting pressure to relax red tape and promote competitiveness, Woods’ remarks reflect a broader debate about how to balance the need for stability with the need for growth and innovation in the financial sector.

Read more:
Red tape risks turning city into ‘graveyard’, warns Bank of England official

Chancellor Rachel Reeves is reportedly considering the abolition of tax breaks for salary sacrifice schemes used by tens of thousands of drivers to lease electric vehicles (EVs).

This move could potentially deal a significant blow to the UK’s push towards widespread EV adoption. The Treasury is reviewing whether to scrap or modify these schemes, which allow employees to lease EVs by paying monthly instalments before income tax and National Insurance are deducted, offering considerable savings.

While the schemes have been credited with bolstering EV sales during a slowdown in new car demand, critics argue that they disproportionately benefit wealthier individuals. The Resolution Foundation, a think tank, has called for the removal of tax breaks for salary sacrifice and company cars, stating that the benefits largely accrue to high earners who can afford new vehicles.

Chancellor Reeves is expected to address these concerns in her first Budget on October 30. In the lead-up to the Budget, Reeves hinted that higher earners would face additional tax burdens, stating that those with the “broadest shoulders will be bearing the largest burden.”

The Financial Impact and Industry Concerns

Officials from the Treasury have been discussing the financial implications of these schemes with members of the British car industry. The abolition of salary sacrifice schemes could save the Treasury up to £100 million, according to estimates. Civil servants have reportedly recommended scrapping the schemes to Ms Reeves and her predecessors, though no decisions have been finalised.

Car industry leaders, however, are warning that removing salary sacrifice tax breaks would severely hinder the UK’s EV transition. James Court, chief executive of the Electric Vehicles Association, said: “Salary sacrifice is the one government policy remaining that helps working people bridge the upfront cost of EVs. Removing it before we reach price parity with petrol cars would be hugely damaging.”

A new EV still costs around £12,000 more than an equivalent petrol or diesel vehicle, a key hurdle in the path towards achieving mass adoption. With the government committed to encouraging EV uptake as part of its broader decarbonisation goals, the potential removal of this financial support has sparked concerns about reaching carbon reduction targets.

Who Benefits from Salary Sacrifice?

The Resolution Foundation argues that higher-rate taxpayers currently receive the most significant benefit from the scheme, with discounts of up to 62%. This is compared to 28% for basic-rate taxpayers, while lower earners often cannot participate due to rules preventing their net income from falling below the minimum wage. The think tank believes pre-announcing the end of these tax breaks could accelerate demand for EVs as motorists rush to take advantage before the changes take effect.

However, industry experts, including the British Vehicle Rental and Leasing Association (BVRLA), dispute claims that these schemes only benefit wealthier households. According to BVRLA data, around 52% of drivers using salary sacrifice are basic-rate taxpayers, with many employed in essential sectors like health and social care, including NHS nurses.

Toby Poston, spokesperson for the BVRLA, defended the scheme, stating, “The salary sacrifice market is a major success story and is central to the UK meeting its ambitious decarbonisation targets. It is helping to democratise access to zero-emission motoring.”

Future of EV Adoption in the Balance

As the government looks to balance fiscal concerns with its environmental ambitions, any changes to salary sacrifice tax breaks will likely have significant implications for the future of EV adoption in the UK. While Chancellor Reeves has not yet confirmed her plans, industry leaders and environmental advocates will be watching closely as the October 30 Budget approaches.

A spokesperson for the Treasury declined to comment on the speculation surrounding potential tax policy changes, saying: “We do not comment on speculation around tax policy changes outside of fiscal events.”

Read more:
Reeves considers ending salary sacrifice tax breaks for electric vehicles, sparking industry backlash

Conservative leadership hopeful Robert Jenrick has pledged to unite a divided party and introduce economic policies that would see a 2p reduction in income tax.

Speaking on GB News, Jenrick outlined his vision for a more cohesive Conservative Party, while emphasising his business background as a key driver of his economic strategy.

“I’ve got friends across the party, and I believe that our party has to be a broad church,” Jenrick stated. “I want it to have all the traditions of our party… and I want to unite the party, that is my nature.”

Jenrick criticised recent internal party conflict, calling it a “disgrace” and blaming factionalism for the loss of good councillors and MPs. “That can never happen again,” he said, adding his desire to bring an end to political infighting.

Economic Vision

When asked about his economic policies, Jenrick highlighted his business roots, explaining that his upbringing in a small family business shaped his understanding of what it takes to support economic growth. “My dad left school at 16… I used to help him in his shop. I know what it takes to grow businesses and support our economy,” he shared.

He stressed the need for a return to higher economic growth, claiming that the party had failed to deliver on promises of a strong economy. “We’ve lived through a period of low economic growth, and that’s got to change,” Jenrick said.

Among his key policy proposals, Jenrick promised to create a robust plan to grow the economy by focusing on key areas such as:

Welfare Reform: He vowed to help people move off welfare and into work to ensure a sustainable workforce, avoiding reliance on foreign labour.
Energy Strategy: Jenrick called for investment in nuclear power stations and affirmed that gas “is here to stay” to ensure businesses have access to cheap, reliable energy.
Infrastructure Development: He emphasised the importance of encouraging construction of factories, offices, and data centres to support business competitiveness on a global scale.

Jenrick also criticised the current tax burden, arguing that high taxes stifle growth. He proposed a reduction in government spending, specifically rolling back the welfare bill to pre-COVID levels, which he claims would make it possible to cut 2p from income tax. “It is possible to have a smaller state and a more competitive economy,” he concluded.

As Jenrick positions himself as a unifying candidate with a clear economic agenda, his leadership bid rests on bridging divides within the Conservative Party and delivering on promises of lower taxes and higher growth.

Read more:
Robert Jenrick: I Can Unite the Tory Party – and Cut 2p Off Income Tax

Improving road safety is essential for ensuring the well-being of residents in any community.

To make a difference and reduce accidents, it is important for individuals, organizations, and government bodies to work together. In this guest post, we will discuss 12 practical steps that you can take to improve road safety in your area.

Obey Traffic Laws and Signals:

The first step towards improving road safety starts with everyone following traffic laws and signals diligently. This includes obeying speed limits, stopping at red lights and stop signs, using turn signals, and yielding to pedestrians. By setting an example of responsible driving behavior, you encourage others to do the same.

Promote Safe Walking and Bicycling:

Creating a safe environment for pedestrians and cyclists is crucial for road safety. Encourage walking and bicycle lanes by advocating for their creation in your area. Ensure that pedestrians have designated crossing areas at busy intersections and add bike racks around key locations to promote cycling as a viable means of transportation. Installing road humps in high-traffic areas can also slow vehicles down, ensuring better safety for pedestrians and cyclists.

Educate Drivers About Distracted Driving:

Distracted driving has become a major concern in recent years due to the increasing use of smartphones behind the wheel. It is imperative to educate drivers about the dangers of distracted driving through public awareness campaigns or by conducting workshops in schools or workplace settings.

Enhance Visibility on Roads:

Another important measure to improve road safety is by enhancing visibility on roads during low light conditions or inclement weather. Encourage local authorities to install sufficient streetlights along major routes and ensure reflective signage is in place.

Maintain Traffic Signage:

Well-maintained traffic signage plays a significant role in preventing accidents by alerting drivers about important information up ahead, such as upcoming bends, upcoming pedestrian crossings, or speed limit changes. Regularly inspect signs within your locality to identify any damages or missing signs that need repair or replacement.

Advocate for Better Pavement Conditions:

Maintaining and improving road conditions is central to reducing accidents. Potholes or deteriorating roads can lead to dangerous situations for drivers, cyclists, and pedestrians alike. Take note of poor pavement conditions and contact your local authorities to address these concerns promptly.

Encourage Responsible Parking:

Improperly parked vehicles can obstruct sightlines and contribute to traffic congestion, creating hazardous conditions for both drivers and pedestrians. Encourage responsible parking practices by organizing awareness campaigns or requesting local authorities to enforce parking regulations more strictly.

Create Safe School Zones:

Making the area surrounding schools safer is crucial in providing a secure environment for children and their families. Work with school administrators, parents’ associations, and local authorities to create safe zones around schools by implementing lower speed limits, adding extra crosswalks, or assigning crossing guards during peak hours. Installing heavy-duty speed humps around school zones can help control vehicle speeds and enhance safety.

Support Effective Public Transportation:

Encouraging the use of public transportation helps reduce the number of cars on the road, ultimately contributing to improved road safety. Advocate for better public transportation services in your area by contacting local elected officials or community organizations focused on transportation issues.

Implement Speed Control Measures:

Speeding is a leading cause of accidents worldwide; therefore, it’s essential to promote responsible driving speeds through various means. Lobby for speed cameras, heavy duty speed humps in dangerous areas or work with local police departments to increase patrols in neighborhoods where speeding is prevalent.

Conduct Community Road Safety Campaigns:

Engage with your neighbors and community members in promoting road safety through various educational campaigns such as driver education workshops, walkability audits, or initiatives encouraging mindful driving behaviors.

Collaboration with Local Authorities:

Finally, establishing an open line of communication with local authorities is crucial as they have the resources and jurisdiction needed to implement large-scale changes regarding road infrastructure and policies that can greatly impact safety standards in your area.

Conclusion:

Improving road safety requires collective effort from individuals, communities, and government bodies alike. By following these 12 steps, you can contribute to creating safer roads and a more secure environment for everyone in your area. Remember, incremental changes at a local level can have a significant and lasting impact on road safety. Let’s work together to drive change and create better road safety standards in our communities.

Read more:
12 Steps to Improve Road Safety in Your Area

When using financial instruments associated with these entries, working with carriers always takes into consideration the difficulties presented by the numerous trade barriers in the finance business.

However, the official online business platform of Exons Group provides you with a solution at this time. Because of its name and the way it gives vendors the best recipes, this website is amazing.

If you are wondering why the virtual foundation of this stage makes sense as a goal for carriers, these are the things you should know.

Identifying Principles and Strategies:

You should be conscious that the underlying perspective for stage business rules establishes a virtual, however alluring, commercial hub. The power circle of the Exons Group will provide these constructions with a stronger base. It resolves a lot of trading disputes at this point in the business. It assists you in every manner that it can.

Observing Different Business Functions:

Many clients prefer distinctive approaches because of their varying wants. They are not considering your request for a single site because of Exons Group. It contains information, rules, and some shining examples of workplaces. For instance, this trading platform offers several open entry points into the metal exchange. You have total access to it as well. This site’s cooperative effort portion is more significant than the majority of account-exchanging sections. The association foundation of this website is unquestionably fantastic at a fundamental level and has been revitalized so that kids can finish it.

Contemporary Gadgets of Exons Group:

You need to make use of these cutting-edge applications when dealing with assets correctly. The elements of this website admin stage are noteworthy from a weight-deregulation standpoint because they emphasize the need for large solid regions for both new and existing merchants. If you are physically present on stage, Exons Group provides all the technology needed to learn and use new skills.

Identifying Boundaries:

By prohibiting the use of different record types, the web-based version of Exons Group’s virtual platform poses a business limitation. Supervisors guarantee that documents will be sent out on time. They generally offer friendly customer service. The chiefs are ready to assist you with your goals and activities whenever you need it. During the real trading part of this business discussion, understudies should act accordingly. Carriers stand to gain greatly from this course of action in terms of exchange conditions. Right now, you have a lot of resources at your disposal to increase your income. Because of this, our website is the perfect location to quickly finish frameworks and discover the best price for them.

To Sum up:

In conclusion, people find it difficult to make use of new apps and other mechanical groups that are related to new events. Customers can manage complex scenarios and a significant energy deficit by figuring out efficient ways to work. This demonstrates that strain is not deteriorating! The sole reliable choice for both novices and specialists looking to attain the maximum level of success in trading is Exons Group.

Read more:
Exons Group Review: The Most Important Online Trading Agency

Is it correct to assume that you are looking for a secure environment to evaluate a variety of trading experiences?

On the other hand, would you agree that you are reluctant to use risky strategies? Not a challenge! Laydson Group will support you. Moreover, it is your fundamental responsibility to outline the business-related matters that are so crucial that they have the potential to alter your decision to make money online.

This demonstrates how Laydson Group’s finance stage makes effective use of these remote deals.

Identifying Important Elements:

To work together, you must create a profile on Laydson Group’s business platform, which provides dependable entry points for cross-border cash transactions. Always provide your data, agree to the stage’s plans, and complete any central procedures that may be required. You have now lost the opportunity to learn more about this website. These tiers provide active methods, transparent evaluation instruments, pay plans, and additional elements to assist you in taking control of the foreign exchange market and making wise trading decisions. Many people can trade esoteric transactions.

Looking for Feasible Options:

This form of trade is a terrific option for individuals who are active in the business community and handle funds to conquer new hurdles. Clear evaluation makes the cycles easy to grasp so you can trade on the profitable platform. You can display the amount and mention the sort, accessible cash matches, and their normal trade prices for your organization while you are present on the official site of Laydson Group. It is fairly typical on most new exchanges to organize wagers.

Systematic Functions of Laydson Group:

In any event, there is no actual necessity for an expansion of Laydson Group’s authority trading domain. On various trading stages, you can construct take-benefit thresholds and stop-trouble requirements to automatically cancel your trades when predetermined expenditure thresholds are met. These gadgets aid in obtaining benefits and lowering predicted expenses. It is vital to undertake a thorough investigation of the new business sphere. To find possible trade and establish doors, carriers generally apply the primary strategy, which is associated with advanced yet easy technical applications. The actual transaction on this website, assures verifiable exchange movement by developing relationships with facilitated financial risks and reducing disputes by boosting exchanges.

Bottom Line:

In the end, it can be claimed that access to the most central and liquid financial market in the world is made possible by Laydson Group’s revolutionary exchange design. Being the most evolved trading website, it lets people fulfill their criteria, no matter what community they belong to. As you get the simplicity offered by the afforded trading stages, individual shops can invest substantial sums of money to enter the market. People with various money-making targets can join this stage which is limited to them by major financial foundations because of this feature. This section opens up a market that was previously locked off to retail customers by influential business circles.

Read more:
Laydson Group Review: Why Knowing Your Business Destination Matters More

Christopher Linton is a successful entrepreneur and dedicated community advocate, originally from South Alabama and now based in Houston, Texas.

As the CEO of LoneStar Labor Management, a staffing agency specializing in poultry and food manufacturing, Linton has established a reputation for combining business acumen with a strong commitment to community service. His leadership approach focuses on fostering sustainable growth and creating opportunities for the next generation.

Growing up as a talented athlete in both football and baseball, Linton learned the values of discipline, perseverance, and teamwork—qualities that continue to shape his professional and personal life. After earning a Bachelor of Science degree and a Juris Doctorate in Law, he transitioned into the business world, where he built a company that serves clients across the United States.

Beyond his business endeavors, Christopher Linton is passionate about mentoring young athletes and empowering youth through education and sports programs. He believes that true success is measured not just by profit, but by the positive impact one has on the community. His commitment to creating lasting change through business and community involvement defines his legacy as a leader.

Christopher, you’ve built a successful career in business and community service. What inspired you to focus so heavily on giving back to the community while leading a growing business?

I think it all goes back to my upbringing in South Alabama. My parents always emphasized the importance of helping others, and I grew up watching my community support one another in tough times. When I moved to Houston and started LoneStar Labor Management, I knew I wanted to carry that philosophy with me. Business, in my opinion, should be more than just about profit; it’s about the impact you make on the people around you. For me, success is measured by the ability to lift others up as you grow. Community involvement gives my work a deeper purpose.

What was one pivotal moment in your career that shaped your approach to leadership and community engagement?

There was a moment early in my career when we were providing staffing solutions to a poultry plant in a rural community. One of the local nonprofits reached out to us, asking for support for their youth programs. At the time, we were still a small company and resources were tight, but I made the decision to invest in that community program. It turned out to be one of the best decisions I’ve made. Not only did we help support young people, but we also built trust within the community, and that led to long-term partnerships. It taught me that even when resources are limited, making an effort to give back pays off in ways you might not initially see.

How do you foster a culture of community involvement within your business?

One of the core values at LoneStar is giving back, and we integrate that into everything we do. I encourage my team to find local causes they’re passionate about and we actively support those initiatives as a company. Whether it’s sponsoring a youth sports team or volunteering at food drives, we make it a point to be present in the community. I’ve found that this not only boosts morale but also makes us more connected as a team. When people know their work is tied to something greater than just the bottom line, it brings a whole new level of fulfillment.

You’ve mentored many young athletes over the years. What do you think is the most important lesson they can learn from sports that applies to life and business?

Sports teach discipline, resilience, and how to handle failure—three things that are essential in life and business. I tell young athletes all the time that how they react to failure will define their success. There’s a tendency to give up when things don’t go your way, but sports teach you to keep pushing forward, even when the odds are against you. Whether you’re on the field or running a company, setbacks are inevitable. It’s how you respond to them that makes the difference.

What advice would you give to someone who wants to transition from an athlete to an entrepreneur?

The transition from athlete to entrepreneur can be challenging because, in sports, you have a coach, a team, and a structured environment. In business, you’re often on your own. My advice is to take the skills you’ve learned in sports—leadership, teamwork, perseverance—and apply them to entrepreneurship. Surround yourself with mentors and a solid team, just like you would on the field. Also, remember that entrepreneurship is a long game, much like a season in sports. You have to stay consistent and adaptable.

Houston is known for its diversity and growth. How has that influenced the way you run your business?

Houston’s diversity is one of its greatest strengths, and it’s something that’s influenced how I approach leadership. At LoneStar, we serve clients from all walks of life, and our workforce reflects that diversity. I’ve learned that in order to succeed here, you need to be adaptable and open to different perspectives. Understanding the unique needs of various communities helps us provide better services, and it’s helped us build long-lasting relationships. Embracing diversity has allowed us to grow in a way that’s both inclusive and sustainable.

You’ve mentioned your commitment to youth programs before. What role do you think business leaders should play in supporting education and youth development?

Business leaders have a huge role to play in supporting youth development. It’s not just about donating money—it’s about investing time, mentorship, and resources into programs that build future leaders. In my case, I’ve always believed that investing in youth sports and education is a direct investment in the future workforce. When we provide young people with opportunities to grow and develop, we’re building a foundation for future success, not just for them, but for the entire community.

What’s one challenge you’ve faced in growing LoneStar Labor Management, and how did you overcome it?

One of the biggest challenges we faced was scaling the business while maintaining our core values. As we expanded, it was tempting to cut corners or sacrifice the personal touch that made us successful in the first place. I realized that in order to grow sustainably, we needed to stick to our principles, no matter how big we got. We implemented systems to ensure our values were part of every decision we made. By staying true to who we are, we’ve been able to grow while maintaining the trust of our clients and the community.

What role does innovation play in your approach to both business and community involvement?

Innovation is key in both business and community work. In business, you have to stay ahead of the curve—whether it’s through new technologies, better processes, or more efficient staffing solutions. But innovation also applies to community involvement. Just as we look for new ways to serve our clients, we also seek innovative ways to engage with the community. That could mean starting a new mentorship program or creating a partnership between local schools and businesses. It’s all about finding fresh ways to address the needs of both the business and the community.

Finally, what do you hope to accomplish in the next five years, both in your career and in your community efforts?

In the next five years, I want to continue expanding LoneStar Labor Management while deepening our community partnerships. I’d like to see us become more involved in youth education, particularly in areas like STEM and vocational training. On the business side, I’m focused on growing our reach, but I’m also committed to ensuring that our growth is tied to real, positive change within the community. I want LoneStar to be known not just as a business success, but as a company that truly cares about the people we serve and the communities we are a part of.

Read more:
Alabama’s Christopher Linton on Leadership, Community, and Empowering the Next Generation

In a sharp escalation of tensions between Brussels and Elon Musk, one of the European Union’s top officials, Věra Jourová, has branded the billionaire tech entrepreneur a “promoter of evil” over his handling of X, formerly known as Twitter.

Jourová, who oversees the EU’s efforts against online misinformation and hate speech, accused Musk of enabling the spread of harmful content, including antisemitism, on the social media platform.

Ms Jourová, who has served as the EU’s vice president for values and transparency, made her comments as she prepares to leave Brussels after a five-year term. Speaking to Politico, she stated, “We started to relativise evil, and he’s helping it proactively. He’s the promoter of evil.”

The EU official’s remarks come amid ongoing criticism of X for its content moderation policies since Musk took over the platform in 2022. Under Musk’s ownership, X has rolled back certain moderation rules, prompting the EU to accuse the company of violating social media regulations.

Ms Jourová specifically targeted X for becoming “the main hub for spreading antisemitism,” echoing concerns about the platform’s failure to curb hate speech. She has been a vocal critic of Musk’s policies, particularly the introduction of paid blue-tick verification, which the EU argues has enabled the spread of misinformation.

The European Commission has threatened to fine X for violating the EU’s Digital Services Act (DSA), which regulates online platforms. Musk, however, claims that Brussels offered him a “secret deal” to avoid fines, a claim the EU denies.

This dispute is part of a broader clash between the EU and Musk’s platform. X has faced accusations of non-compliance with advertising transparency rules and allowing content that promotes Hamas, though no formal charges have been brought regarding this issue.

As X’s tensions with Brussels continue to grow, Musk is reportedly considering blocking access to X within the EU. This move would be a significant escalation in the dispute and could have major implications for how online platforms operate in Europe under the bloc’s strict regulations.

With more EU regulations on the horizon, the war of words between Musk and Brussels is unlikely to die down anytime soon.

Read more:
Elon Musk branded ‘promoter of evil’ by top EU official in clash over online moderation

Tesco and Shell have struck a deal to purchase the entire output from the Cleve Hill solar farm, the UK’s largest solar project, which was initially planned to power 100,000 homes.

The agreement sees 65% of the farm’s electricity going to Tesco’s supermarkets, while Shell will manage the remaining 35% for its growing network of electric vehicle (EV) charging stations. The solar farm is expected to go online in early 2025.

The Cleve Hill project, situated on 860 acres of the Kent coast near Faversham, has been a source of controversy since its approval, with local opposition focused on its impact on the Graveney Marshes, a site renowned for its wildlife. Despite protests, the project was greenlit in 2020 by then energy secretary Alok Sharma. The farm, once pitched as a solution to power local homes, is now being used to meet the demands of corporate giants.

Vicky Ellis of CPRE (Campaign to Protect Rural England) Kent voiced frustration, stating: “This project was approved on the premise that it would power homes, not petrol stations and supermarkets. The irony of a major supermarket and an oil giant benefitting from a project labelled as a green energy initiative is not lost on us.”

The project, financed by US-based Quinbrook Infrastructure Partners, will include 560,000 solar panels, generating 373 megawatts (MW) of power—equivalent to half the output of a small gas-fired power station. Some of the solar panels will be mounted on steel frames almost as tall as a double-decker bus due to flood risks in the area.

Tesco’s power purchase agreement with Cleve Hill will account for up to 10% of its UK electricity demand, helping the supermarket meet its sustainability targets. “Cleve Hill solar park, with its ability to generate up to 10% of our UK electricity demand, joins a number of other Power Purchase Agreements we’ve announced over the last five years,” said Tesco CEO Ken Murphy.

Meanwhile, Shell’s portion of the output will support its EV charging network across the UK. With a 10-year agreement in place, Shell’s involvement underlines its ambitions in the renewable energy market, despite ongoing criticism of its core oil business. Shell Energy Europe’s head of power trading, Rupen Tanna, emphasised that renewable energy deals like Cleve Hill are essential to achieving the UK’s net-zero targets.

The Cleve Hill solar farm is expected to be eclipsed by even larger projects approved by the UK government, including the 600MW Cottam solar farm in Lincolnshire. Solar Energy UK’s CEO Chris Hewett noted that the industry aims to triple solar capacity by 2030, stating, “We can expect to see more deals like these in the coming years, as the industry scales up to reach 50 gigawatts of generation capacity.”

Despite its environmental benefits, Cleve Hill continues to spark debate. Ms Ellis and other critics argue that the transformation of the marshlands into a commercial energy hub compromises its natural beauty and wildlife, undermining the original promise of green energy for local homes. As the UK races to expand renewable energy infrastructure, the tension between corporate interests, environmental sustainability, and local communities remains an ongoing issue.

Read more:
Tesco and Shell to power stores and EV stations with output from UK’s largest solar farm, originally meant for homes

HMRC has ramped up its enforcement of National Minimum Wage (NMW) compliance, resulting in £13.7 million in penalties levied against employers during the 2022/23 tax year.

This enforcement push follows the government’s increasing focus on NMW violations, supported by a doubling of HMRC’s enforcement budget to £27.8 million compared to 2015/16.

A recent report by the Department for Business and Trade (DBT) highlights the impact of this enforcement, revealing that more than 108,000 workers were paid NMW arrears after investigations into non-compliance. HMRC closed nearly 3,200 cases, with 900 of them uncovering unpaid wages. The report underscores HMRC’s growing use of the Geographical Compliance Approach (GCA), a targeted three-tiered enforcement method designed to bring employers in specific regions into compliance with NMW regulations.

Under the GCA, employers are encouraged to address NMW arrears voluntarily, but if issues persist, HMRC can impose penalties of up to 200% of the arrears owed. During 2024, three more regions—Liverpool, East Midlands, and another to be announced—will be added to the GCA, following the addition of locations like Belfast, Cornwall, and Watford.

Kyle Newton, Head of National Minimum Wage at Azets, commented on the report: “The sheer scale of HMRC enforcement highlights how widespread NMW non-compliance is. Businesses must review their payroll records and ensure they are adhering to the rules before they face unexpected penalties and reputational damage.”

The government remains clear on its stance, with the DBT stating: “The enforcement of the minimum wage is essential, and we are committed to cracking down on employers who break the law across all sectors.”

The penalties and arrears identified by HMRC in the past year reflect the heightened awareness among workers about their rights, partly driven by campaigns like “Check Your Pay” and direct communication from HMRC to millions of workers.

Businesses across the UK are being urged to take proactive steps to ensure NMW compliance, particularly in light of expected increases to the minimum wage rate, which is predicted to exceed £12 per hour in April 2025. Employers who fail to address discrepancies in pay or working time practices could face further penalties, including public naming by HMRC.

As HMRC’s enforcement activity continues to grow, businesses should review their payroll controls and seek professional advice to mitigate financial and legal risks.

Read more:
HMRC imposes £13.7 million in penalties following National Minimum Wage enforcement action