6:28 am, March 10, 2025
High street firms facing extra £1bn tax bill next month as relief slashed
Shops, restaurants and pubs across England are facing an extra £1bn in taxes when a discount is cut next month, adding to a ‘tsunami’ of rising costs hurtling toward the sector, according to new analysis.
Businesses in London will be hit hardest by changes, tax and software firm Ryan found.
Firms in the retail, leisure and hospitality sector are facing increased costs in April when a discount on business rates will be reduced from 75% to 40%.
Huge cost to the economy of work-related ill health – TUC
Work-related ill health is costing the economy more than £415m a week, according to a report.
The TUC said its analysis suggested that the number of days lost because of health conditions such as stress, depression and anxiety has increased by a third since 2010.
The union organisation said that in 2023 to 2024, around 34 million working days were lost to work-related ill health, compared with 22 million in 2010. It said the findings showed the importance of improving the quality of work, adding that the increase in days lost to work-related ill health has coincided with a boom in insecure work.
Volkswagen ID.Buzz Cargo now starts from £35,960
Volkswagen has announced that the ID.Buzz Cargo electric van has received a price cut of more than £2,000.
That’s due to a new entry-level model called the Commerce, which is priced from £35,960 (excluding VAT), compared to £38,125 previously.
It now features a smaller 59kWh battery pack and electric motor that generates 167bhp. Vw claims a range of 200 miles, and DC rapid charging is rated up to 165kW.
The markets
The FTSE 100 failed to make up any ground on Friday after a week of losses fuelled by US President Donald Trump’s chaotic changes of policy around trade tariffs. It sank three points to finish the day at 8,680, roughly flat.
Germany’s Dax index fell 1.8% and France’s Cac 40 dropped 1.1%. Wall Street’s S&P 500 also suffered a week of losses, down another 1.1% as UK markets were closing, though it was also affected by US jobs data released earlier on Friday. The Dow Jones was down 0.8%.
Sterling was up 0.2% against the dollar at 1.2914, while it was 0.4% down against the euro at 1.1900
Man charged after Big Ben clock tower incident
A 29-year-old man has been charged after climbing onto the clock tower of Big Ben, Metropolitan Police said.
Daniel Day, of Palmerston Road, Westcliff-on-Sea, Essex, has been charged with intentionally or recklessly causing a public nuisance and trespassing on a protected site.
Day is accused of scaling Elizabeth Tower barefoot at around 7.20am on Saturday, and came down just after midnight on Sunday.
Canada will never be part of America, Mark Carney says after winning PM race
Former Bank of England governor Mark Carney has said Canada will ‘never ever’ be part of America after winning the race to succeed Justin Trudeau as the country’s prime minister.
Carney – who headed up Britain’s central bank between 2013 and 2020 – will replace the 59-year-old after winning the Liberal Party leadership race.
Carney, who’s also 59 years old, is currently chairman of Canadian alternative investment firm Brookfield Asset Management. He will now have to decide when to call a general election in Canada – which must take place on or before October 20.
Latest on Car Dealer
Tom Hartley Junior signs one of the biggest car deals in history after sale of Bernie Ecclestone collection
Supercar dealer Tom Hartley Junior brokered a £500m deal, selling Bernie Ecclestone’s 69-car Grand Prix collection to Red Bull heir Mark Mateschitz. The sale attracted global interest, including sovereign wealth funds. Mateschitz plans to preserve and publicly display the collection.
Renault Masters used van market: French brand’s LCV is named UK’s most reliable for 2024
The Renault Master was named the UK’s most reliable used van by Warranty Solutions Group, with a low 4.55% claim rate. It outperformed the Vauxhall Combo and Mercedes Sprinter, while the Ford Transit ranked eighth. Common repairs included starter motors and turbochargers.
‘Substantial change’ to ZEV mandate agreed to keep Nissan plant in Britain
The UK government will make a ‘substantial’ change to its ZEV mandate after Nissan warned it might leave the country. Business secretary Jonathan Reynolds confirmed discussions but didn’t disclose details. Nissan previously requested a two-year pause on mandate fines.
Illegal used car dealership allowed to stay open after council grants retrospective permission
Alan Macdonald Cars, an illegal used car dealership near Falkirk, secured retrospective planning permission after operating without approval for five years. Owner Alan Macdonald claimed he was unaware of the requirement. Falkirk Council approved the application, allowing the business to continue trading.
Maserati will be ‘driven by what consumers want’ as brand looks to move on from sale rumours
Maserati’s new North European chief, Mariangela Del Vecchio, emphasises a consumer-driven approach as the brand moves forward. Following uncertainty under Stellantis, Maserati balances ICE and EV models, expanding its ‘Folgore’ electric range to meet customer demand while maintaining exclusivity.
Weather
Today will see variable cloud with occasional light rain, reports BBC Weather. Northern Scotland will turn colder, with showery rain and hill snow moving south, followed by late sunshine. Highs of 15 degrees.
Tonight, Scotland remains cloudy with hill snow, while southern areas see patchy rain. Elsewhere, it’s drier with some showers in northeast England.
