6:50 am, October 22, 2025
Rachel Reeves axes ‘arbitrary rules’ costing firms £6 billion ahead of Budget
Rachel Reeves has said plans to scrap paperwork and ‘arbitrary rules’ for thousands of UK businesses would save firms almost £6bn a year by the time of the next election.
She set out a package of measures aimed at boosting lacklustre economic growth at the Regional Investment Summit in Birmingham on Tuesday.
The gathering of business leaders and investors came after more gloomy news emerged for the Chancellor as Government borrowing in September hit the highest level for the month in five years.
UK inflation expected to jump to 21-month high of 4%
Inflation is expected to increase to its highest level for 21 months as more pressure piles on the Chancellor and the Bank of England.
Economists have predicted Consumer Prices Index (CPI) inflation will have hit 4% in September, when the Office for National Statistics reveals its latest data on Wednesday.
It would mark the highest level since January 2024.
Porsche Macan Electric gains new flagship ‘GTS’ model
Porsche has revealed a new flagship model of the Macan Electric with the GTS specification.
The latest generation of Porsche’s smallest SUV is available with petrol and electric power and rivals the likes of the Polestar 4 and Tesla Model Y.
The GTS model is the most performance-focused model in the Macan Electric line-up and boasts a 100kWh battery pack with an electric motor that produces 509bhp and up to 955Nm of torque; however, Porsche claims that when ‘Launch Control’ is activated, power is boosted to 563bhp.
FTSE 100 holds firm amid hefty gold miner losses
The FTSE 100 has made steady progress despite a plunge in the gold price which saw heavy share price drops for Fresnillo and Endeavour Mining.
The FTSE 100 index closed up 23.42 points, 0.3%, at 9,426.99, while the FTSE 250 ended 39.82 points higher, 0.2%, at 21,908.30 but the AIM All-Share shed 5.20 points, 0.7%, at 765.86.
In European equities on Tuesday, the CAC 40 in Paris ended 0.6% higher, while the DAX 40 in Frankfurt rose 0.3%.
Tuesday on Car Dealer
Used Car Awards 2025 Shortlist: Which dealers have made the cut?
The shortlist for the Used Car Awards 2025 has been revealed after mystery shoppers completed weeks of calls, visits, and reviews of nominated dealers. Winners will be announced at the black-tie ceremony, hosted by Mike Brewer, on November 24 at The Brewery, London.
Out now: Issue 212 features the Nissan Leaf, Car Dealer Podcast Live and all the latest news
The latest issue of Car Dealer magazine – Issue 212 – is out now and free to read. It’s packed with industry news, dealer updates, expert columns, a major EV road test, and highlights from the recent Car Dealer Podcast Live recording.
Family-run Marriott Motor Group slumps to a loss after ‘increasing costs and reducing margins’
Marriott Motor Group has posted a pre-tax loss of £39,698 for 2024, down from a £1.15m profit the previous year. The dealer blamed rising costs and shrinking margins, despite vehicle sales increasing 1.6%. New car turnover rose 10.8%, but used sales fell 10.6%.
Omoda reveals new Ford Puma rival with model set to arrive in UK showrooms next year
Omoda will expand its UK line-up in 2026 with the new Omoda 4 – a compact B-segment crossover set to rival the Ford Puma and Skoda Kamiq. The model debuts the brand’s futuristic ‘Cyber Mecha’ design and will feature a seven-year warranty.
Pressure mounts on Prince Andrew over his Windsor mansion
Pressure is mounting on Prince Andrew to give up his 30-room mansion after it emerged he has paid a ‘peppercorn rent’ on the property for more than 20 years.
Senior Tory Robert Jenrick said it was ‘about time Prince Andrew took himself off to live in private’ as ‘the public are sick of him’.
Parliamentary committees could also look into the Crown Estate’s handling of Andrew’s Royal Lodge residence in Windsor Great Park.
Keep age-based minimum wage to help young people into work, says think tank
Ministers should abandon plans to equalise the minimum wage as the number of young people out of work or education threatens to reach one million, a think tank has said.
Last year’s budget saw Rachel Reeves announce plans to scrap lower minimum wage rates for under-21s, saying they were ‘discriminatory’.
But in a report on Tuesday, the Resolution Foundation urged the Government to change course to stop young people being ‘priced out of entry into the labour market’.
Weather outlook…
The UK will see mostly cloudy and cool conditions nationwide.
The south will brighten later with highs around 14 °C, while the Midlands will stay grey and slightly cooler near 12 °C. Further north, including Scotland, expect overcast skies, light winds, and temperatures around 10 °C.
Overall, a calm, dry autumn day.
