6:45 am, June 5, 2025
Confidence in UK economy falls from 45% in 2015 to 28% a decade later – survey
Confidence in the strength of the UK economy has fallen from 45% in May 2015 to 28% a decade later following a cost-of-living crisis, Brexit, Covid and geopolitical upheaval, according to a long-running survey.
But confidence in non-essential spending has held strong, at an average of 53% from 2015 to now, the Barclays 10 Years Of Spend report found.
The study, based on billions of transactions and more than 200,000 consumer confidence surveys since 2015, found that 66% of consumers pay more attention to their budget than they did a decade ago. Just under half (45%) of UK adults say they do not feel better off than they did 10 years ago.
UK must tackle energy bills as firms face £24bn in extra costs – CBI
Britain must address soaring energy tariffs as firms struggle under the weight of crippling power bills on top of tax and wage hikes costing them an extra £24bn a year, the boss of the CBI is set to warn.
Rain Newton-Smith, chief executive of the business group, will tell business leaders and politicians at the CBI’s business dinner on Thursday that sky-high energy costs are an ‘anchor on our ambition’.
At the event in London, she will call on the government to come up with a ‘serious plan’ to cut energy costs and invest in energy security to help make the UK and businesses more competitive.
Oasis star Noel Gallagher’s Bentley goes on sale for £1.2m
Oasis guitarist Noel Gallagher’s red 1997 Bentley Turbo R has gone on sale priced at £1.2m.
The four-door saloon car listed on Auto Trader was previously owned by the 58-year-old, despite the fact he cannot drive, once telling Zoe Ball on the BBC Radio 2 Breakfast Show that he gave up learning after being mobbed by children when he was told to park close to a school for a lesson.
Speaking about the sale, Erin Baker, editorial director at Auto Trader, said: ‘Cars listed by music legends don’t come around very often, and Noel Gallagher’s Bentley Turbo R is certainly one for the Auto Trader history books.’
The markets
Stocks in London made healthy progress on Wednesday, shrugging off weak US data, after a survey showed the UK services sector returned to growth in May.
The FTSE 100 index closed up 14.27 points, 0.2%, at 8,801.29. The FTSE 250 ended 101.23 points higher, 0.5%, at 21,119.01, and the AIM All-Share closed up 0.84 of a point, 0.1%, at 754.35.
In European equities on Wednesday, the Cac 40 in Paris rose 0.5%, while the Dax 40 in Frankfurt increased 0.8%. The pound was quoted up at 1.3566 dollars late on Wednesday afternoon in London, compared to 1.3499 dollar at the close on Tuesday. The euro stood higher at 1.1425 dollars against 1.1385 dollars.
Retailers call for urgent national action on high street crime
‘Flagship’ high streets, including London’s Oxford Street, are at risk without urgent national action on crime, a consortium of retailers has said.
Once seen as a major shopping destination, Oxford Street has struggled in recent years – becoming better known for phone snatching and sweet shops.
High Streets UK, a group that represents 5,000 UK businesses, is calling for ring-fenced funding for police to protect key shopping destinations. The body includes members from business improvement districts in Aberdeen, Birmingham, Bristol, Cardiff, Edinburgh, Leeds, Liverpool, London and Newcastle.
Zelensky calls Russia peace proposal an ‘ultimatum’ and demands talks with Putin
Ukrainian president Volodymyr Zelensky on Wednesday dismissed Russia’s ceasefire proposal as ‘an ultimatum’ and renewed his call for direct talks with Russian president Vladimir Putin to break the deadlock over the three-year war.
Both sides exchanged memorandums setting out their conditions for a ceasefire for discussion at Monday’s direct peace talks between delegations in Istanbul, their second meeting in just over two weeks.
Zelensky said that the second round of talks in Istanbul were no different from the first meeting on May 16. He described the latest negotiations in Istanbul as ‘a political performance’ and ‘artificial diplomacy’ designed to stall for time, delay sanctions and convince the United States that Russia is engaged in dialogue.
Wednesday on Car Dealer
Exclusive: Top 10 fastest-selling used cars in May revealed – and there’s a surprising car in second place
Younger, low-mileage petrol cars sold fastest in May, with the Vauxhall Corsa topping the list at 8.6 days. Most top-sellers were under three years old. The electric Ford Explorer ranked second. Dealers cut prices to shift stock amid rising average selling times.
Save the date: Car Dealer Podcast Live to return for a second year on September 24
Car Dealer Podcast Live returns on September 24 at Milton Hill House, Abingdon, after a successful debut. Sponsored by Motorway, the event features industry guests, a live recording, barbecue, and drinks. Tickets start at £99, with overnight packages also available.
The Motor Ombudsman teams up with Ben to create free mental health support guide
The Motor Ombudsman and charity Ben have launched ‘Steer’, a free mental health guide for the automotive industry. It offers strategies, case studies, and resources to support colleagues facing challenges, aiming to foster open conversations and promote wellbeing in the workplace.
Weather
A cloudy start for England and Wales with rain, some heavy, clearing to sunny spells and showers, reports BBC Weather.
Scotland and Northern Ireland will see variable cloud and scattered showers. Temperatures will be mid to high teens.
Tonight, showers continue in places, with further rain moving in from the west across England and Wales later.
