AGP Executive Report

Northern Powerhouse Funding: PXN Ventures’ PraeSeed 3 backs 13 early-stage northern founders with British Business Bank support, with deep tech and life sciences dominating and most cohorts from diverse backgrounds. Northern Ireland Business Performance: Ulster Business Top 100 shows NI’s biggest firms’ pre-tax profits down 17.5% to £1.484bn while sales stay flat at about £35bn. PM Andy Burnham & Business Finance: Burnham backs a new £1bn scale-up fund for science and tech using pension pots, while also ruling out stamp duty changes at the next Budget. Cost Pressures in Hospitality: Essex pub and bar owners say Burnham’s 20% business rates cut from April 2027 won’t offset rising employment costs and overheads. Business Crime Risk: Dorset records 1,816 business crimes per 100,000 people in 2025, with theft most common and many owners investing in CCTV. UK Economy Pulse: S&P Global PMI data points to the first growth in three months in July, helped by hot weather, the World Cup and a brief Iran-war respite. AI & Security Concern: Commentary warns that “rogue” AI agents in banking apps and beyond are a bigger worry than headline-grabbing lab tests. Tourism & Travel Lobbying: The Future Travel Coalition urges Burnham to tackle rising taxes and regulatory burdens, arguing tourism is a major UK economic driver. Infrastructure & Jobs: London airport expansion plans are framed as growth engines for overseas visitor spending, while train drivers consider strikes over toilet provision.

Hospitality shake-up: Whitbread has confirmed closure dates for all Beefeater and Brewers Fayre sites, with 89 Brewers Fayre restaurants shutting after dinner on 7 September and 106 Beefeater sites closing on 10 September, putting about 3,800 jobs at risk. Energy & bills: A new report argues the case for affordable British power, warning global shocks keep feeding into household energy costs and calling for more home-grown generation. Water resilience: Government drought plans are set to change how businesses manage water, with tighter scrutiny and updated rules as hosepipe bans spread. Crypto cost-cutting: Uphold has cut around 17% of its global workforce (85 roles) as weaker retail crypto activity pushes it to focus on enterprise services. Regulation spotlight (funerals): A UK funeral director faces a possible prison sentence after bodies were left uncremated for months and families were given other people’s ashes, renewing calls for tougher oversight. Ukraine support: Andy Burnham hosts Zelensky in a “clear message” of continued UK backing, including plans tied to air defence cooperation. EV charging expansion: Arnold Clark Charge is joining the Radius EV network, extending access to ultra-rapid charging across the UK with competitive pricing. Business rates politics: Campaigners and industry voices react to Burnham’s business rates moves, with Northern Ireland hospitality warning it’s being left “stuck in the middle.” UK retail pressure: A card shop in London Bridge’s Shard Quarter has closed, blaming rising rent, rates and staffing costs.

UK-India Trade & Industry: CETA’s July 15 rollout is already moving auto parts trade, with India flagging Brakes India’s first preferential export shipment as a sign of deeper UK-linked manufacturing ties. Water Infrastructure Modernisation: Scottish Water has brought in Accenture to modernise core digital systems and its enterprise data platform, aiming to improve customer services and use AI across Scotland’s water network. Devolution Doubts: A new critique says Andy Burnham’s plan to devolve power to regions may not deliver the productivity lift seen in Manchester, with limited spillover to wider areas. Migration for Growth: Former Tory justice minister Sir David Gauke argues the UK should attract more high-skilled migrants and reinvest employer immigration charges into training. Business Costs & Jobs: Analysis warns Heathrow’s third runway could displace thousands of jobs across regions, with the West Midlands among the hardest hit. Hospitality & Local Economy: Burnham’s early business-rate moves for pubs and venues are being framed as a start, but industry voices say wider support is still needed. Scams & Enforcement: Scotland’s Motor Trade Association calls for tougher action against organised crime selling bogus “ghost” MOT certificates to cash-strapped drivers. Small Business Success Stories: A kitchen-table start-up in the UK is now scaling after record summer demand, while a family firm marks 100 years in print and news publishing. Heatwave Impact: Researchers estimate England’s record June heat cut over £1bn from output in a single week, underlining the economic hit from extreme weather. Pensions & Tech Investment: Nest and Railpen are backing a £1bn Scale-Up Fund to push retirement savings into UK science and technology. Energy & Climate Hiring: A global survey finds sustainability hiring is holding up despite tougher business conditions, with budgets largely stable. Regional Health Divide: New reporting highlights worsening north-south life expectancy gaps despite record longevity.

Cost-of-living shake-up: Andy Burnham’s first week in No10 brought VAT removal on domestic electricity bills from Oct 1, a £2 single bus fare cap in England, and a 20% business rates cut for pubs, clubs and live music venues—moves aimed at easing pressure but shadowed by wider energy and geopolitical risks. Steel jobs under threat: Tata Steel warned cheap Asian imports could make UK sites “unsustainable” after tariff quota design raised allowances for categories like galvanised steel, potentially undercutting output. HMRC compliance warnings: HMRC flagged a “tax rise by stealth” as IHT receipts hit a record £2.3bn, and reminded side-hustlers earning over £1,000 to register; it also set an 18 August deadline for mandatory tax adviser registration. Business rates and high street squeeze: More closures hit the hospitality sector, while HMRC and Trading Standards crackdowns keep adding cost and admin pressure. UK–global trade and travel links: Air Arabia is boosting its new Gatwick route to three daily flights from Oct 25, and UK foreign policy signals put climate and development at the World Bank’s core via Ed Miliband. Local economy stories: A £20m Pride in Place pot is set to be signed off for Percy Main and North Shields, and Sunderland’s “Glassworks” plans move forward as a new glassmaking hub is proposed.

Retail Regulation: New supermarket pricing rules are now being enforced, with trading standards able to pursue civil court action and fines up to £300,000 or 10% of global turnover for non-compliance on unit pricing and promotions. Transport Costs: RAC data shows “farewell fees” at major UK airports have jumped, with Edinburgh Airport among the steepest at £8.50 for 10 minutes and free drop-offs largely disappearing. Hospitality & Local Economy: Birmingham Airport opened a new Luxe by Aspire lounge aimed at business travellers, while councils are processing fresh licensing bids including Aldi’s alcohol off-sales at Longbridge and a new Jewellery Quarter live music venue plan. Business Support for Farming: Tesco is extending its Future Farmer Programme for three more years, backing under-40 farmers with training and mentorship. Politics & Business Rates: Andy Burnham’s early agenda includes removing a household electricity tax, capping most English bus fares and cutting business rates for pubs, clubs and live music venues. Water Industry Scrutiny: Research claims nearly 90% of raw sewage spills in Scotland could be unlawful under a court-tested “heavy rainfall” definition, raising pressure on regulators and water firms. Scotland Environment: A report says only 23% of Scotland’s national forest estate is native trees, with non-native species dominating and experts calling it “deeply troubling.” Labour & Safety: A study says a third of UK journalists have changed what they report due to fears for personal safety, pointing to a narrowing public conversation.

Stormont Reform Debate: Ulster Unionist leader Jon Burrows says Stormont is failing on tough fiscal choices, pointing to “rampant waste” and weak procurement, and argues London should link extra funding to reforms. Cost Pressures for Drivers: The AA says petrol and diesel drivers are ditching cars for EVs as pump prices rise amid renewed US-Iran tensions; HMRC also confirmed higher Approved Mileage Allowance Payments from 6 April 2026 (55p per mile for the first 10,000 miles). Business Tax & Red Tape: Azets warns HMRC allowances and the wider tax system are “crushing” entrepreneurs and discouraging founders from starting, scaling and selling. Pub and Restaurant Closures: Beefeater will shut all 106 UK restaurants on 10 September, with Whitbread restructuring expected to affect about 3,800 jobs. Trade & Jobs Outlook: India–UK’s free trade deal is expected to nearly double trade to $115bn by 2030 and create up to 10 lakh jobs, with engineering and other sectors set to benefit. AI Regulation Push: The FCA’s “supercharged sandbox” adds Anthropic to help firms test AI for areas like fraud detection and safer payments. Energy, Safety and Industry: A fertiliser explosion in Essex injured 20 firefighters and destroyed multiple fire engines; meanwhile, water-safety campaigns highlight preventable drowning risks as deaths are reported. Fintech Expansion: UK fintech VALT has launched in Bangladesh to bring digital payments to the hospitality sector. Local Economy Moments: Comic Con Wales and Warhammer’s first Wales event at ICC Wales are expected to draw thousands and add £10m+ to the local economy since 2022.

Hospitality Pressure & Local Change: Nine Leicestershire pubs made The Telegraph’s Top UK Pubs Guide, as the paper renews its push to save Britain’s pubs amid closures. High Street Losses: A Devizes stove showroom closed after 15 years, while a town-centre shop shut down after a decade-plus. Planning & Housing Swap: Wiltshire plans would demolish a “dilapidated” commercial unit to build four two-bed homes. Visitor Fees Row: RSPB Conwy sparked backlash after introducing a £6 charge for non-members using its café, with claims it hits disabled visitors unfairly. Pub Sector Policy: Andy Burnham’s new business rates cuts for pubs, clubs and live music venues are being framed as a lifeline for high streets, though MPs warn it won’t go far enough. Energy & Grid Risk: A leaked report warns the electricity system operator is “flying blind”, raising blackout and cost risks as forecasting struggles with a more complex grid. Trade & Tariffs: The UK–India trade deal comes into force, while US tariffs on forced-labour grounds are again roiling UK exporters and prompting legal challenges. Corporate Deals: Bain Capital agreed to acquire Vitabiotics, including its Indian unit Meyer Organics, signalling continued UK nutraceutical consolidation. Work & Pay: Bank of England research suggests older workers are increasingly applying for junior roles as good-job supply dries up. Broadband Expansion: EE is set to expand a high-speed fibre pilot to more customers, pushing 2.3Gbps and 8Gbps trials further. Climate & Business: Amazon marked its 50th carbon-free energy project in the UK, enough to power 1.2m households annually.

North of England Power Shift: UK PM Andy Burnham officially opened “No 10 North” in Manchester, promising a more balanced country and at least one day a week working from the new base as devolution plans gather pace. Cost Pressures & Monetary Outlook: With June inflation reported at 2.6%, markets are watching Middle East-driven oil risks; a Reuters poll suggests most expect Bank of England rates to stay put, while mortgage advisers warn relief may not arrive soon. Business Rates Relief: Burnham’s 20% cut to business rates for pubs, clubs and live music venues is landing as a welcome first step for hospitality, though some landlords say it won’t be enough without wider support. Retail & Jobs: Nothing has started cutting jobs globally as it trims costs after rapid hiring, with around 25 roles at risk in marketing and most UK-based. Energy & Infrastructure: Independent broadband providers are pushing for clearer ministerial ownership after DSIT was scrapped, warning telecoms is the delivery mechanism for AI and public services. Tech & Funding: Humanoid, a UK robotics firm, raised US$152m in Series A to push commercialisation of industrial humanoids. Wealth & Tax Debate: More than 120 UK millionaires backed a “Proud to Pay” push urging higher wealth taxes, arguing the richest can afford it. Local Growth Stories: Worcester was named the UK’s top city for creatives, while Aldi published a list of Scottish areas it’s “actively seeking” new stores in.

Business Rates Relief: Andy Burnham’s new government will cut business rates for pubs, clubs and live music venues in England by 20% from April next year, with an estimated £1,100-a-year saving on top of existing support, but hospitality bosses in places like Oxford say it’s still “not enough” and renew calls for a VAT cut. SME Pressure & Hiring: A North East survey for Novuna Business Finance finds 9 in 10 adults want more help for small firms, while owners are prioritising fixed costs over expansion or hiring. Housebuilding Shock: Vistry has been flagged as the UK’s most shorted stock after a £30m first-half loss and a sector-wide squeeze from higher building costs and fragile demand. Tourism Costs in Scotland: Edinburgh’s new 5% visitor levy starts today on overnight stays, expected to raise up to £50m a year for local services and attractions. Trade & Tariffs: The US is set to impose forced-labour tariffs on 60 economies, including the UK at 10%, adding pressure on exporters and supply chains. Aerospace Boost: Farnborough Airshow deals are expected to inject £10.8bn into the UK economy, underlining continued global demand for aircraft and engines. Compliance Deadline: Companies House identity verification rules for directors and PSCs are nearing their endgame, with warnings for overseas executives running UK subsidiaries. Consumer Mood: UK consumer confidence improved in July, helped by hopes around the new prime minister and hot weather, though energy-price risks remain.

Business Rates Relief: Andy Burnham has announced a 20% business rates cut for pubs, clubs and live music venues in England from April 2027, on top of earlier relief, expected to save the average pub about £1,100 and help nearly 32,000 venues, though hospitality groups say hotels and restaurants still need support. Labour Market Strain: New figures show 20.9% of working-age people (about 9.4m) are economically inactive, with unemployment rising and vacancies falling—setting a tough agenda for the new PM. Energy & Industry Policy: Burnham’s first moves also include scrapping a home electricity tax for at least six months, while Treasury chief John Healey is tasked with balancing cost-of-living relief against debt concerns. SME Cash Management: Flagstone says the number of banks offering business savings to SMEs has jumped 37% in a year, with many accounts now offering inflation-beating rates. Payments & Subscriptions: Ecommpay warns e-commerce subscription firms are losing around 9% of revenue to failed payments, as customers increasingly audit subscriptions. Trade & Geopolitics: Reuters reports Israeli banks are set to halt ties with Palestinian counterparts over terrorism-financing and money-laundering risks, raising fears of a Palestinian economic crisis. Hospitality Community Support: Warwickshire businesses are being urged to join the MyTime scheme, offering unpaid carers free leisure and wellbeing breaks. Manufacturing Pulse: The CBI reports UK manufacturing new orders fell at the fastest pace in six years, with firms squeezed by rising costs and weak demand. Defence Disruption: The UK has relocated a planned training exercise in Kenya after licences were not approved, amid wider tensions over immunity and financial disputes.

Inflation Watch: UK CPI cooled to 2.6% in June (from 2.8% in May), with core inflation steady at 2.6%, giving the Bank of England a bit more breathing room even as oil-price and Iran-related risks linger. Cost-of-Living Policy: New PM Andy Burnham cut VAT on household energy bills to zero from October and capped England bus fares at £2 from January, but questions are growing over funding and whether the moves are adding up. Business Confidence: ICAEW’s Business Confidence Monitor shows sentiment sliding across most regions, with the Iran-war fallout and higher energy costs hitting hardest. Aerospace & Defence Spending: The government backed BAE Systems with a £708m contract extension to accelerate next-generation combat air tech, while also unveiling a £600m aerospace package aimed at greener air travel and supply-chain growth. Tax & Markets: HMRC published draft rules for a new Securities Transfer Tax to replace stamp duty/SDRT in 2027, keeping the headline rate at 0.5% while shifting to a more digital, self-assessed system. Local Economy: Southend Airport Business Park expansion plans are set for approval, and a York software firm (Simunix) was sold in a major deal to Banyan Software. Culture & Exports: UK recorded music exports topped £800m in 2025, driven by a new wave of artists.

Defence & Growth: Wes Streeting says boosting UK defence spending would “enormously” help economic growth, while insisting it won’t be “on the cheap” as Andy Burnham targets NATO’s 3.5% by 2035. Inflation Watch: The UK CPI cooled to 2.6% in June, helped by lower fuel and food prices, though analysts warn pressures could return. Tax & Cost of Living: HMRC data suggests the number of higher-rate taxpayers will jump sharply in 2026/27 as thresholds stay frozen, adding to “fiscal drag” worries. AI & Work: Deloitte research finds UK CFOs expect cost control to curb graduate hiring, with AI also dampening demand. Tech & Media Business: Permutive and Adform partner to let publishers activate first-party audiences across DSP/SSP. Regulation & Finance: The Joint Regulators Committee issued a response after OBSI’s independent evaluator report. EU-UK Defence Funding: EU states approved UK participation in a EUR 90bn Ukraine support loan, enabling UK firms to supply defence needs. Business Closures: Charles Clinkard shuts an Oxford store as it shifts spending toward stronger stores and online. Sports Finance: Reports say Jeff Bezos is in talks to buy a 30% stake in Liverpool FC. Science Policy: Burnham scraps DSIT and creates a cabinet-level AI minister role, folding science functions into new departments.

UK Economy & Markets: Andy Burnham’s first day as PM put cost-of-living relief and debt discipline front and centre, with John Healey named chancellor after markets reacted to the new fiscal mix and investors warned of more tax pressure ahead. Energy Bills: Government will scrap 5% VAT on household electricity bills from Oct 1, cutting a typical bill by about £45, funded by cancelling the Digital ID programme. Public Finances: City AM analysis says £22bn of spending pledges are not covered in forecasts, raising the odds of autumn tax rises. Labour Market: Unemployment held at 4.9% and vacancies fell again, with smaller firms citing costs and wage pressure. Housing & Planning: Housebuilders urged Angela Rayner to move fast after her return, warning planning red tape and higher costs are still blocking delivery of 1.5m homes. Corporate Deals: Mitie’s £1bn-plus takeover by OCS adds to a busy UK M&A week, while Prologis’ pursuit of Segro turns into a leadership-age spat. Business Sentiment & Tax: Mid-market firms fear higher business taxes under Labour, while competition-law guidance and crypto-debanking scrutiny continue to shape compliance planning. Aerospace & Industry: Airbus began flight tests for next-gen wing extensions in the UK, and UK steel nationalisation sparked investor compensation demands from Jingye. Football Finance: Liverpool is linked to a minority-stake bid led by Amit Bhatia, potentially valuing the club above $6bn.

UK Politics & Cost of Living: Andy Burnham’s first cabinet meeting set the tone for a “cost-of-living government”, with ministers told to examine “all possible ways” to ease pressure on families. Energy Policy: On his first full day, Burnham unveiled a VAT cut on electricity bills from 1 October, saving households about £45 a year, with the government saying it will be funded by cancelling a planned digital ID scheme. Public Finance Watch: Markets are already focused on what Healey’s Treasury role could mean for borrowing, tax and defence spending as investors weigh up the new government’s fiscal choices. Defence & Industry: Defence Secretary Wes Streeting said the priority is deterrence and readiness to “fight and win” with allies, alongside reindustrialisation and defence innovation. Labour Market: Unemployment in the UK was estimated at 4.9% for March–May, with job vacancies falling and business groups warning the outlook could worsen. Banking Consolidation: Metro Bank is in early-stage talks over a potential £2bn merger with challenger Aldermore, a move that would reshape competition in UK lending. Water & AI Infrastructure: Water UK warned government AI growth-zone plans ignore water supply realities, arguing data-centre usage hasn’t been factored into forecasts. Consumer & Daily Life: England’s free bus travel for children runs through August, and Thames Water has announced a hosepipe ban affecting millions. Business Security: A Manchester study says the UK’s response to economic crime is hampered by unclear accountability, budget pressures, and weak data-sharing. Small Business Fraud Alert: Police are investigating card-payment “chip and pin” fraud targeting small independent businesses. Tech & Workflows: Zebra and Oxford Economics say modernising frontline workflows can lift retention, speed and profits across retail, logistics and manufacturing. Appointments & Deals: Burlington Stone promoted Andrew Woon to Sales Director; Lloyds was named finance partner for Mitsubishi UK; and Coforge was recognised in Whitelane’s UK & Ireland IT sourcing study.

UK Politics & Economy: Andy Burnham became the UK’s new prime minister on Monday after Keir Starmer resigned, promising a “circuit breaker” and a 10-year plan to restore stability, ease cost-of-living pressure and end rough sleeping, while also pushing a “new economic model” and more power for communities. Cabinet & Business Policy: Burnham named former defence secretary John Healey as chancellor, with Ed Miliband as foreign secretary and Kanishka Narayan as the first AI minister to sit in Cabinet; he also dissolved DSIT and folded it into a wider business and trade remit. Markets & Public Finances: A Health Foundation analysis says restoring UK health to 2014 levels could lift GDP by 2% and unlock £72bn in public finances, as Burnham inherits weak growth and tight fiscal constraints. Industrial Strategy & Aerospace: Vertical Aerospace says it’s in advanced talks with government for up to £10m to anchor UK production for its eVTOL aircraft and batteries, with a broader cross-government support programme as it targets industrial scale-up. Steel Nationalisation Fallout: China’s Jingye Group says it will pursue legal remedies and compensation after the UK nationalised British Steel, warning the move damages investor confidence; China’s commerce ministry also condemned the takeover. Regional Growth: British Business Bank figures show it newly backed 3,500 smaller firms in the North West in 2025/26, supporting jobs and turnover growth. Global Links: Trump said his first call with Burnham was “very good,” discussing North Sea oil, trade, the military alliance and demining the Strait of Hormuz.

UK Politics: Andy Burnham officially became Britain’s seventh prime minister in a decade, promising a “circuit breaker” and a 10-year plan aimed at easing the cost-of-living squeeze, ending rough sleeping, reindustrialising via public procurement, and building more council homes after Keir Starmer’s farewell outside Downing Street. Business & Economy: Retailers are urging Burnham to act fast on business rates, employment costs and regulation to stabilise high streets, while a new report flags plunging confidence among electrical manufacturers tied to weak demand. Tech & Cyber: The cyber industry is watching Burnham’s tech direction closely, with calls to keep AI policy strong and scrap the digital ID scheme; separate coverage also highlights Simply Business adding cyber insurance for small firms through an Elevate partnership. Defence & Aerospace: Anduril unveiled its “Thunder” loyal-wingman drone concept for Apache helicopters at Farnborough, while Boeing reiterated its commitment to a UK-built T-7 bid for RAF trainer needs. Legal & Crime: The CPS brought 38 more charges against Andrew and Tristan Tate and seeks extradition from the US over alleged rape and trafficking offences. International Trade & Relations: Canada used Farnborough to push aerospace investment and partnerships, and Ireland’s Taoiseach pledged close UK co-operation with Burnham. Energy & Housing: Data-centre pressure and water constraints are derailing plans for 1.5m new homes, adding to the wider strain on utilities and infrastructure. Consumer & Markets: Paybis cut crypto fees by up to 70% with automatic tiered discounts, and UK games retailer Game entered administration amid competition and Brexit-linked uncertainty.