AGP Executive Report
Last update: 21 minutes agoState Pension Triple Lock: Provisional wage data points to a 3.9% state pension rise next April, lifting the basic pension by about £375 and the full new state pension to roughly £13,000-plus, with costs and affordability concerns still in the spotlight. Jobs & pay: UK unemployment held at 4.9% (May–July) while wage growth cooled to 3.9%, and payrolled employee numbers fell—adding pressure on the October Budget as firms scale back hiring. Business costs & hiring squeeze: Employers warn of an “employment cost shock” ahead of Healey’s Budget as vacancies drop to the lowest since 2021, especially hitting retail and hospitality. Digital ID for alcohol: New rules in England and Wales let pubs and shops accept digital age checks via apps like Yoti, replacing the need for physical ID for many customers. Political donations checks: Reform UK’s £72m crypto-linked donor story is set to trigger tighter residency tests for overseas-based donors above a £100,000 cap. AI safety stance: First Secretary Louise Haigh says ministers will “heed the warnings” from AI experts and work internationally on regulation around public safety and national security. Wales business rates cut: Welsh Government announces a permanent 30% rates cut for small hospitality and leisure venues, with unions urging it not to undermine funding for public services. High street hit: Wynsors World of Shoes plans to close 17 stores, including two in the North East, adding to retail restructuring pressure. Tourism policy: UK mayors could soon get powers to introduce a tourist levy on overnight stays, with details still emerging. Defence & skills (Scotland): A Scottish Affairs Committee report warns rising defence spending could be missed without tackling persistent skills shortages. UK-Russia risk: A report highlights growing Russian activity around UK waters and critical undersea infrastructure, underscoring security concerns.
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