6:50 am, November 28, 2025
Rachel Reeves insists tax on working people kept at ‘absolute minimum’ at Budget
Rachel Reeves has insisted taxes have been kept at ‘an absolute minimum on ordinary working people’, even as an influential think tank said low-to-middle earners would have been better off with their tax rates rising than their thresholds being frozen.
The defiant-sounding Chancellor also defended her position, saying: ‘You’re not going to write my obituary today,’ after delivering a Budget she was ‘incredibly proud’ of.
Her decisions put Britain on course for a record tax burden as she hiked levies by £26bn after weaker economic forecasts left holes in her previous spending plans.
Halfords sales and profits tick higher as cycling demand jumps
Halfords has revealed increased sales and profits amid a boost from stronger bike sales over the past half-year.
Bosses said the business was buoyed by a ‘recovery’ in the cycling market, warm summer weather and ‘fantastic’ sales of children’s bikes.
Sales in the cycling business rose by 9% for the half-year to September 26, compared with a year earlier, as a result. It helped drive a 3.3% increase in total revenues to £893.3m for the half-year.
Toyota Aygo X Hybrid will be priced at £21,595
Toyota has announced that the Aygo X Hybrid will be priced at £21,595, arriving in the UK with a choice of four trim levels.
The Aygo X is Toyota’s smallest model and is now equipped as standard with a hybrid powertrain to make it even more efficient than its predecessor.
The new setup consists of a 1.5-litre petrol engine mated to an electric motor to develop 114bhp, while Toyota claims that the car emits just 87g/km of CO2 and will achieve up to 74.3mpg on the combined cycle.
The markets
The FTSE 100 paused for breath on Thursday after the drama of Wednesday’s Budget as US markets shut for Thanksgiving.
The London-based stock index closed up just 2.35 points at 9,693.93.
In European equities on Thursday, the CAC 40 in Paris closed little changed, while the DAX 40 in Frankfurt gained 0.2%.
Thursday on Car Dealer
IMDA claims 165 dealers have cancelled Auto Trader in wake of Deal Builder roll-out
A survey by the IMDA claims 165 dealers cancelled Auto Trader contracts over the mandatory Deal Builder product, citing price hikes, weakened dealer-buyer relationships, and sales disruption. Auto Trader disputes the figures but insists on continuing the roll-out.
Government postpones axing Employee Car Ownership Schemes until 2030
The government has delayed ending Employee Car Ownership Schemes from October 2026 to April 2030, following lobbying from the SMMT. The postponement allows the sector more time to adapt, despite expected £275m revenue from the originally planned changes.
Leading Toyota and Lexus dealer Steven Eagell Group hands out ‘Excellence Awards’
Steven Eagell Group hosted its first Excellence Awards on November 13, celebrating outstanding employees across its Toyota and Lexus centres. The event recognised performance, customer service, and behind-the-scenes roles, shortly before winning the Diversity and Inclusivity award at the 2025 Used Car Awards.
New pay-by-mile tax could see 440,000 fewer EV sales over next five years – OBR
The OBR warns the new pay-per-mile EV tax, starting April 2028, could reduce sales by 440,000 over five years. Government grants may offset some loss, but higher costs and lower mileage could slow EV adoption despite incentives.
Labour U-turns on plans for day-one workers’ protection against unfair dismissal
Ministers have abandoned plans to give workers day-one protection against unfair dismissal in a bid to ensure the Government’s Employment Rights Bill makes it through Parliament.
The Government now intends to introduce the right after six months of service instead – down from the current qualifying period of 24 months – in a U-turn which breaches Labour’s manifesto.
The legislation has been caught in a stand-off between peers and MPs over the Government’s plan to give workers protection on their first day in a job, as well as measures to ban ‘exploitative’ zero hours contracts.
Net migration falls to lowest annual figure since 2021
Net migration has dropped further to the lowest annual figure since 2021, new estimates suggest.
Net migration – the difference between the number of people moving long-term to the country and the number of people leaving – has been on a downwards trend for the past two years.
Latest figures published on Thursday show the number dropped to 204,000 in the year to June 2025, down 69% year-on-year from 649,000, according to the Office for National Statistics (ONS). Reacting to the fall, Sir Keir Starmer said it is ‘a step in the right direction’.
Weather outlook
Much of the UK will today see unsettled weather. In the south and Midlands, expect persistent rain and drizzle with highs around 12–14 °C, while the south‑east may see brief brighter spells later.
In northern England and southern Scotland, cloud and rain will linger, and Scotland’s north will be chilly with frequent showers and some wind chill.
Conditions will feel damp and cool nationwide, with patchy dry breaks further south.
