6:24 am, September 23, 2025
Cut national insurance and hike income tax to meet fiscal rules, think tank says
Rachel Reeves should cut national insurance and increase income tax to create a ‘level playing field’ and protect workers’ pay, a think tank has said.
In a report published on Tuesday, the Resolution Foundation said the chancellor should send a ‘decisive signal’ that she will take ‘tough decisions’ on tax to calm jittery bond markets.
It comes as Reeves prepares to deliver a Budget in November that is widely expected to see significant tax rises as she battles to meet her fiscal rules.
Bodycare to disappear from high streets as remaining shops to close
Bodycare will disappear from Britain’s high streets after administrators announced the closure of its remaining 56 shops, resulting in around 450 redundancies.
The high street beauty retailer collapsed into administration earlier this month and has not been able to secure a buyer for its chain of stores in the UK. Administrators at advisory firm Interpath said this meant it had made the difficult decision to close them down.
Bodycare was founded in 1970 in Lancashire and sold beauty products, fragrances and other bathroom items.
Yangwang U9 Xtreme breaks world record for fastest production car at 308mph
The Yangwang U9 Xtreme electric hypercar has set a new record for the world’s fastest production car.
Yangwang Automotive is a luxury electric car firm that is owned by the Chinese vehicle manufacturer BYD.
The car clocked 308.4mph around the Automotive Testing Papenburg High Speed Oval in Germany, beating the last record that was set in a Bugatti Chiron Super Sport 300 +, which achieved 304.8mph in 2019.
The markets
The FTSE 100 made steady progress on Monday, supported by gains in gold miners as the price of the yellow metal hit a new all-time high.
The FTSE 100 index closed up 10.01 points, 0.1%, at 9,226.68. The FTSE 250 ended just seven points higher at 21,596.93, and the AIM All-Share closed up 3.93 points, 0.5%, at 777.53.
Gold was quoted at 3,729.11 US dollars an ounce at the time of the London equity market close on Monday, up against 3,670.59 dollars on Friday. The pound, meanwhile, was quoted lower at 1.3501 dollars on Monday, compared to 1.3556 dollars on Friday.
Cooper: Recognising Palestine must ‘spur’ action as two-state solution in peril
Recognising Palestinian statehood must be a ‘spur’ to action rather than a ‘substitute’ for it, foreign secretary Yvette Cooper told the United Nations.
Cooper said the UK’s decision to recognise Palestine, a largely symbolic step it took alongside Canada, Australia and Portugal on Sunday, reflects the ‘grave reality’ that the two-state solution is in ‘profound peril’.
She spoke at a UN General Assembly meeting in New York on Monday which French president Emmanuel Macron opened by officially recognising Palestinian statehood.
Monday on Car Dealer
Used car dealer jailed for assisting road rage killer who attacked victim with metal wheel brace
A used car dealer who attempted to help a road rage killer evade justice has been jailed for more than two years.
Motor Trade Mille sets off on European road trip to raise money for charity
A group of car dealers and suppliers have joined together in cars worth less than £1,000 to drive to the Nurburgring before selling them for charity next week.
Renault brings ‘rnlt concept store’ idea to UK as first site opens at Battersea Power Station
Renault has thrown open the doors to its first UK ‘rnlt concept store’, with the French brand welcoming customers to the Battersea Power Station site over the weekend.
Family-run SLM Group adds Alpine to Weybridge site as bosses hail ‘exciting new chapter’
Family-run car dealer St Leonards Motors (SLM) has added to its list of manufacturer partners after agreeing a new deal to represent Alpine.
Weather
A largely dry, settled day with sunny spells and patchy cloud across the UK, reports BBC Weather. Isolated showers may linger in the far north and southeast.
Tonight stays clear and calm for most, with some mist or cloud in places, and the southeast coast seeing occasional showers.
