6:38 am, August 13, 2025
Reeves concedes government has ‘more to do’ as unemployment at four-year high
Rachel Reeves conceded the government had ‘more to do’ but defended her stewardship of the economy as figures showed the UK’s unemployment rate stuck at a four-year high.
The chancellor insisted Labour had been ‘creating more jobs’ since entering office despite vacancies declining over the last quarter, with experts warning of a further ‘cooling in the labour market’.
Speaking to reporters on a visit to Belfast on Tuesday, Reeves said the government had returned stability to the economy but that there was ‘absolutely’ more progress to be made. The Office for National Statistics (ONS) earlier released figures showing the rate of UK unemployment struck 4.7% in the three months to June.
Elon Musk’s Tesla applies to supply energy to British households
Elon Musk’s Tesla is plotting to enter the British energy market and supply households in the coming months.
The company has sought approval for an energy licence from regulator Ofgem in order to take on energy supply giants including British Gas owner Centrica and Octopus Energy.
It hopes to start supplying energy to homes and businesses in England, Scotland and Wales as soon as next year.
Renault’s full line-up of EVs receive Electric Car Grant discounts
Renault has announced that its full line-up of EVs will comply with the government’s Electric Car Grant scheme.
Customers who order a R5, R4, Megane E-Tech or Scenic E-Tech can save up to £1,500 off each model. The grant also extends to the Alpine A290.
Other manufacturers to have announced similar news this week includes Vauxhall.
The markets
Sir Keir Starmer will co-chair a meeting with pro-Ukraine allies on Wednesday after a call with US President Donald Trump and European leaders about ending the war.
Sir Keir will join a virtual call at midday with Ukrainian president Volodymyr Zelensky, French president Emmanuel Macron and German chancellor Friedrich Merz. They will then be joined by Trump and US vice president JD Vance.
Later, the prime minister will co-chair a Coalition of the Willing meeting to update wider partners on the day’s discussions.
Government lines up insolvency firm in case of Thames Water collapse
The government has appointed insolvency specialists to step up planning for Thames Water in case the troubled water company collapses.
FTI Consulting has been brought in as an administrator in the event Thames fails to secure funding from lenders.
Contingency plans could see Britain’s biggest water firm placed into a special administration regime (SAR), meaning it would be put into an insolvency process.
Tuesday on Car Dealer
Family-run Williams Motor Group sees profits slide despite rising new and used car sales
Williams Motor Group has seen its profits fall for the second year in a row with the retailer becoming the latest firm to feel the impact of strong economic headwinds throughout 2024.
House of Lords committee questions cost and timescale of FCA’s car finance redress scheme
A House of Lords committee has raised concerns over the Financial Conduct Authority’s proposed redress scheme for customers who were mis-sold motor finance.
Snows Motor Group wins prestigious Peugeot award for ‘roarsome’ performance
Snows Motor Group’s Peugeot Basingstoke dealership has been recognised and praised by the French carmaker with a prestigious award.
Weather
Much of the UK will be hot and sunny today, with morning mist and low cloud clearing in the south and west, reports BBC Weather. Scotland may see isolated heavy, thundery showers. Temperatures will be as high as 34 degrees in central parts of England.
Tonight, clear spells prevail, with scattered heavy showers in Scotland and isolated downpours in southeast England.
