AGP Executive Report
Last update: 3 hours agoBoE Rates Watch: The Bank of England held Bank Rate at 3.75% in a 7-2 vote, with two members backing a hike as Middle East-linked energy risks keep inflation pressure alive. Budget Countdown: Andy Burnham’s government has set an autumn budget for 28 October, promising to “spread money and power” while still sticking to fiscal rules—though funding the shift remains the big question. Devolution Push: Burnham’s plan to “unbundle” England centres on mayors keeping income-tax and business-rate revenues, but business leaders warn the rollout must reach places like Warwickshire, not just major cities. India-UK Trade Boost: PM Andy Burnham and Narendra Modi pledged to maximise the India-UK CETA and deepen cooperation in tech, defence, clean energy and security, including West Asia de-escalation and Strait of Hormuz reopening. Property Split: Zoopla says UK house-price growth has slowed to 1.3% and sales agreed are down, but Northern Ireland is a standout with near-£9,610 annual gains. Retail Deal: Sainsbury’s confirmed Argos will keep operating inside its supermarkets after the £120m sale to Swift Partners, with staff transferring to the new owner. Water Sector Shock: Commentary flags the looming political spotlight on Thames Water, with nationalisation costs potentially running into tens of billions and wider infrastructure funding needs stretching to hundreds of billions. Small Business AI: The FSB urged the new AI minister to boost trust and legal clarity, arguing wider AI adoption could add £42bn a year to the UK economy. Betting Restructuring: Betfred has started consultation to close 132 shops and cut 600 jobs from September, citing higher employer costs, wage inflation, gambling taxes and uncertainty.
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