6:50 am, September 24, 2024
Labour to announce replacement for apprenticeship levy
he Government is to replace the apprenticeship levy with a reformed growth and skills levy.
The Prime Minister will announce the move at the Labour Party’s annual conference later today.
He is expected to say that the new skills levy will offer greater flexibility for employers and learners, including through shorter duration apprenticeships in targeted sectors like construction.
Business growth softens as services inflation pressures ease
Activity across the UK’s private sector grew at a slower rate in September as inflationary pressures eased across parts of the economy, according to indicative new data.
The S&P Global flash UK composite purchasing managers’ index (PMI) reported a reading of 52.9 in September, down from 53.8 in August.
It came in ahead of expectations of economists, who had pencilled in a reading of 52.2 for the latest survey.
Business concerns about workers’ rights Bill will be addressed, says Reeves
Employer concerns about the government’s workers’ rights package have been ‘addressed and understood’, Rachel Reeves said as she sought to reassure businesses about the legislation.
The Chancellor insisted the government does not want to make it harder for companies to hire temporary workers or students with its Employment Rights Bill as she faced business chiefs during an event at Labour’s annual party conference.
It came amid a series of discussions with unions and businesses over the details of the party’s plans to bolster protections for workers ahead of the draft law’s introduction to Parliament, with further meetings expected over the coming weeks.
Small firms enjoy fastest sales and profits growth for over two years – report
Britain’s small business sector is ‘thriving’ after seeing sales and profits rise at the fastest pace for more than two years, according to a new report.
The latest Sage small business tracker found that average profits in the sector surged 9.5% higher year on year between April and June, marking the highest growth since the first quarter of 2022.
The report, compiled with Smart Data Foundry and the Centre for Economics and Business Research, also showed that small business revenues lifted by 4.4% year on year, which is also the fastest since the first quarter of 2022.
JCB cautions over challenging UK conditions despite profit rise
JCB has posted a jump in profits for the past year but warned over ‘challenging’ conditions in the UK construction market.
The Staffordshire-based firm, well known for its yellow excavators and machinery, said its outlook is ‘less positive’ for 2024 as the slowdown in Europe has impacted demand for machinery.
Bosses at the firm said it has been knocked by weaker housebuilding after a surge in interest rates over the past two years impacted the mortgage market.
Volvo XC60 is UK’s best towcar
The Volvo XC60 has been crowned Towcar of the Year 2025, fending off a raft of impressive competitors from BMW to Volkswagen.
The Swedish SUV was named the overall victor by the Caravan and Motorhome Club. Its annual competition has been running for 42 years and is organised to find the best towing vehicles for the caravanning and leisure markets.
The XC60, in T6 Plug-in Hybrid AWD Plus guise, was handed the award after receiving high praise from a panel of industry-leading judges. It also scooped three further category wins – caravan weight over 1,800kg, Family Towcars and Hybrid Towcars – proving that it’s a top choice for caravanners.
Monday on Car Dealer
Time for motor trade to move past agency model ‘false dawn’ – Cox Automotive
Cox Automotive’s latest Insight Quarterly report calls the agency sales model a ‘false dawn’ for the motor trade. It highlights challenges in pricing, vehicle supply, and IT infrastructure, which have led some brands, like Polestar, to abandon the model. Cox suggests OEMs need more flexibility in pricing to make it work.
‘Let’s have a competition’: Peugeot boss challenges rivals as he backs brand’s EV line-up
Peugeot UK boss Eurig Druce has thrown down the gauntlet to competitors, expressing confidence in the brand’s growing electric vehicle line-up. At the launch of the E-5008, Druce backed the Zero Emission Vehicle (ZEV) mandate, favouring competition over relaxing regulations. He also noted cultural differences within Stellantis brands, like Peugeot and Citroën, which he sees as a strength in appealing to different markets.
Driver hospitalised after horror dealership crash which left vehicle on its roof
A motorist was hospitalised following a serious crash at Sandicliffe Ford’s commercial vehicle centre in Stapleford, Notts, on Friday morning. Emergency services, including fire crews and paramedics, responded to the incident, which left a car overturned and another heavily damaged. The driver was extracted from the vehicle and taken to hospital.
Tesla Model 3 named UK’s most efficient new EV as What Car? puts vehicles to the test
The Tesla Model 3 has been named the UK’s most efficient new EV, achieving 4.4 miles per kWh in What Car?’s real-world range test. It covered 255 miles on a single charge. In contrast, the Audi Q6 e-tron Launch Edition was the least efficient, managing 3.0 miles per kWh. Charging costs vary significantly, with the Model 3 costing approximately £508 per 10,000 miles when charged at home, compared to £745 for the Audi Q6 e-tron. The Polestar 2 Long Range topped the range test, covering 333 miles on a single charge.
‘No one has ever questioned it’: Leading finance boss reveals impact of FCA investigation
Octane Finance boss Dan Horner has revealed the FCA’s motor finance investigation caused a drop in enquiries earlier in the year after a special show by Martin Lewis raised awareness. However, Horner believes the probe could benefit the industry long-term, with Octane not affected by the commission-related issues under investigation.
How automotive dealers can use call tracking to boost lead generation
With the shift towards electric vehicles under the ZEV mandate, the used car market is becoming increasingly vital for dealers. Effective phone call management, backed by tools like Mediahawk’s call tracking, allows businesses to capture valuable data from leads, improving marketing strategies, campaign performance, and overall lead generation.
Flash floods hit parts of Britain as month’s worth of rain to fall in 24 hours
Parts of Britain have been struck by flash floods after some areas saw more than a month’s worth of rain in 24 hours.
Heavy rainfall has seen parts of Northamptonshire, Bedfordshire and London submerged causing widespread travel disruption and damage to properties.
According to the Environment Agency, at least 45 properties have flooded across Hertfordshire, Bedfordshire, Kent and the Home Counties.
Nurses reject Government’s pay award of 5.5% rise
Nurses have rejected the Government’s pay award of a 5.5% rise, it has been announced.
Members of the Royal College of Nursing (RCN) in England rejected the deal by two-thirds in a record high turnout of around 145,000.
The pay award was announced by the Chancellor at the end of July, shortly after Labour won the general election.
The markets
The FTSE 100 rose on Monday after a resurgent afternoon’s trading, as Chancellor Rachel Reeves gave her first Labour conference speech in the role.
The blue-chip index rose 29.72 points, or 0.36%, to end the day at 8259.71.
Meanwhile, at the end of the day in Europe Frankfurt’s Dax index rose 0.56%, while the Cac 40 in Paris had closed down 1.39%.
Today’s weather outlook…
The UK is today expected to see mixed weather conditions. Southern areas will experience patchy rain and occasional drizzle, especially in the morning, while northern parts of the country are set to remain largely dry but cloudy. Winds will be light to moderate, with temperatures ranging from 13°C to 17°C.
