Business

A quarter of Britain’s richest families are weighing up leaving the country as fears mount over Labour’s tax raid on private schools and speculation of further levies in next month’s Budget.

A new survey of high-net-worth individuals by wealth manager Saltus reveals widespread disillusionment among affluent households, with VAT on private school fees cited as a key factor driving many to consider a move abroad. The findings underline how sharply confidence has deteriorated among wealth creators, investors and business leaders since last year’s record tax-raising Budget.

Mike Stimpson, a partner at Saltus, said sentiment has barely recovered, and the looming November Budget risks dealing another blow. “Whether it’s capital gains tax, income tax or inheritance tax, high net worth individuals are braced for further changes at the autumn Budget given the Chancellor’s limited fiscal room for manoeuvre,” he said. “This cohort are the wealth creators, investors and employers who drive economic growth. If their confidence is undermined by continual uncertainty, that has consequences for everyone.”

The Saltus survey defines a high-net-worth individual as someone with investable assets of at least £250,000. Among respondents, one in eight said Britain was no longer a good place to start a business, while 16 per cent objected to inheritance tax reforms and 14 per cent said the UK was no longer attractive for raising a family.

The backlash against Labour’s decision to impose VAT on private school fees has been particularly fierce. Almost half of those who voted for Labour at the last election said they now regret doing so because of the policy. One in seven wealthy parents said it was a key reason for considering leaving the country, while a fifth reported they had already pulled their children out of their former schools.

For those who have stayed, many have been forced to take drastic steps to cover the extra costs. According to Saltus, 71 per cent of parents have made sacrifices to pay the higher fees: one in ten have remortgaged, another tenth have taken out loans, and one in eight have moved house to free up equity. A quarter have cut pension contributions, while a third paid school fees in advance before VAT was applied.

Alex Pugh, a chartered financial planner at Saltus, said families were increasingly transferring children to the state sector, often grammar schools, at natural transition points such as secondary school or sixth form. “These decisions are typically not knee-jerk reactions to the higher fees, but rather carefully planned moves at times when changing schools is least disruptive to a child’s education,” he explained.

The findings highlight the pressure facing Chancellor Rachel Reeves as she prepares her first Budget. With a £30–40 billion black hole in the public finances, speculation is rife that she could raise further taxes on high earners, investors and landlords. But Saltus’s research suggests that uncertainty over such measures is already fuelling discontent — and driving some of Britain’s wealthiest families to consider whether their future lies elsewhere.

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Wealthy families plot exodus as Labour’s school fees tax sparks anger

Britain’s labour market is showing signs of strain, with new data revealing a fall in job openings and growing pessimism among businesses, fuelling fears that the economy may be sliding towards recession.

Recruitment site Adzuna reported vacancies fell by 2.1 per cent year-on-year in August, driven by softer demand and higher employment costs, including the National Living Wage and employer National Insurance contributions. The downturn has been most pronounced in London, the East of England and the South West, with nurses, teachers, doctors and hospitality workers among those hardest hit. Graduates face the bleakest outlook, with entry-level roles down by more than a third since January.

The hiring slowdown comes alongside fresh warnings from the Confederation of British Industry (CBI), which said companies across the private sector expect activity to keep falling over the next three months. Alpesh Paleja, the CBI’s deputy chief economist, urged the Chancellor not to repeat last year’s approach of targeting firms with tax rises, warning that the business tax burden is already at a 25-year high.

Public sentiment is equally gloomy. A survey by UKHospitality found almost half of 5,000 respondents believe their local high street is in worse shape than a year ago.

The timing of the downturn adds pressure on Labour as it heads into its party conference this week. Chancellor Rachel Reeves faces the challenge of addressing a £30bn hole in the public finances and is expected to unveil fresh tax measures in her Budget on November 26.

Economists warn the employment data points to a downturn. Simon French, chief economist at Panmure Liberum, cited the Sahm Rule — which signals recession when unemployment rises by at least half a percentage point in a year. With UK joblessness up from 4.1 to 4.7 per cent in 12 months, French said the increase was a “clear warning signal” for policymakers.

Business leaders share the concern. AO founder John Roberts has said he believes the UK may already be heading into recession, while hedge fund manager Robert Gibbins — who made his name betting against sub-prime mortgages before the 2008 crash — told The Telegraph he is now betting against Britain. Gibbins criticised both government and opposition leaders for failing to tackle structural issues such as energy capacity and artificial intelligence investment.

Employers are also dragging their heels on filling positions, taking nearly six weeks on average to hire. Analysts warn this could worsen once the incoming Employment Rights Bill takes effect, making it easier for staff to challenge dismissals at tribunal — a move that some fear could unleash a “blizzard of litigation” for companies already struggling to manage costs.

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Slump in job vacancies stokes UK recession fears as Labour conference looms

Make UK, the body representing Britain’s manufacturers, has appointed the Rt Hon Robert Halfon as its new Executive Director for Policy, Membership and External Affairs.

Halfon, who served as MP for Harlow from 2010 to 2024, replaces Ben Fletcher, who has left to take up a chief executive role at another trade body.

The appointment marks a significant move for Make UK, which represents 20,000 manufacturers across the UK. Halfon has been at the forefront of apprenticeships and skills policy throughout his political career, serving twice as Minister of State for Apprenticeships at the Department for Education (2016–2017 and 2022–2024). He also chaired the Education Select Committee and the Make UK Skills Commission, winning recognition as Minister of the Year in 2024 and multiple awards from The Spectator for his campaigning work.

As Apprenticeships Minister, Halfon drove reforms that changed careers advice in schools, launched the Skills for Life campaign, and backed the creation of UCAS for Apprenticeships, giving vocational pathways equal weight to university. He also abolished training costs for SMEs hiring young apprentices, lifted caps on SME apprentice numbers, and legislated for the Lifelong Learning Entitlement to expand adult access to skills.

Commenting on his new role, Halfon said: “I am excited to join Make UK, the most influential business group in the UK representing ‘the makers’ — our manufacturers. I look forward to working with members, supporting policy development, especially on skills, and making sure the Make UK mission is spread far and wide.”

Stephen Phipson, Chief Executive of Make UK, welcomed the appointment: “Ben Fletcher has made a huge contribution to our work over the past seven years and we wish him every success in his new role. We are very pleased to have Rob join Make UK and bring his extensive campaigning and policy experience to the benefit of the UK manufacturing sector. Skills shortages are one of the key limitations to economic growth in the UK and Rob’s vast experience as one of the UK’s foremost experts in this area will be hugely beneficial as we work through the implementation of the Government’s Modern Industrial Strategy.”

Lord Richard Harrington, Chair of Make UK, added: “Rob will bring invaluable knowledge of Westminster and Whitehall that will help Make UK build on its campaigning role for manufacturers across the UK. In particular, his expertise across the skills landscape, especially on apprenticeships, will be vital in helping the sector tackle one of its biggest challenges: building a talent pipeline for the future.”

Make UK, formerly the Engineering Employers’ Federation, acts as the representative voice of UK manufacturing. Its members range from start-ups to multinationals across engineering, technology and industrial sectors, providing training, legal support, and advocacy to help businesses compete, innovate and grow.

Read more:
Former apprenticeships minister Robert Halfon joins Make UK in top policy role

Developing a personal style is more than simply following trends – it’s about creating a look that reflects who you are while remaining versatile for different occasions.

In the UK, where fashion is a mix of timeless tailoring and modern creativity, finding your style means striking a balance between individuality and practicality. Whether you’re just starting out or refining your wardrobe, the following five tips will help you build a style that feels authentic and polished.

Understand Your Lifestyle and Needs

Before you even think about shopping, take the time to reflect on what your daily routine genuinely looks like. The key to building a sustainable wardrobe is ensuring your clothes match the rhythm of your life rather than forcing you into styles that don’t feel natural. Do you spend most of your week in a corporate environment where formal dress codes dominate, or are you part of a more casual, creative industry where individuality is encouraged? For those working in London’s financial hubs like Canary Wharf, sharp tailoring, muted tones, and classic silhouettes may be non-negotiable. On the other hand, if you live in cities such as Manchester or Bristol, where music, art, and streetwear culture thrive, you might find that bold colours, playful patterns, or even oversized fits better reflect the environment around you. Thinking in these terms helps you avoid the trap of chasing trends that look stylish in theory but never suit your actual lifestyle.

It’s useful to map out your weekly activities – from workdays and weekend leisure to gym sessions and special events – and then assess whether your wardrobe supports these needs. This exercise will highlight gaps you may not have noticed, such as not owning enough casual-smart pieces for dinners out or lacking weather-appropriate clothing for the UK’s famously unpredictable rain. Planning in this way not only saves money but also prevents that all-too-familiar scenario where a new jacket or pair of shoes ends up gathering dust in your wardrobe. Clothes should work for you, not the other way around.

Quick checklist examples:

Office or remote work. Invest in versatile pieces such as crisp white shirts, blazers, chinos, or tailored trousers. These can be layered or dressed down depending on whether you’re in the office or working from home.
Casual weekends. Prioritise comfort without losing style: jeans, knitwear, and trainers are staples. For colder months, a wool jumper or quilted jacket keeps you warm while staying fashionable.
Special events – always have a reliable outfit ready for weddings, formal dinners, or seasonal gatherings. Tailored suits, elegant dresses, or statement accessories can save you from last-minute shopping stress.

Build a Foundation with Timeless Basics

Every strong wardrobe begins with pieces that never go out of style. These timeless basics are the backbone of your personal style, and in the UK’s ever-changing climate, practicality and layering are key. A well-cut trench coat, for example, is as iconic today as it was fifty years ago, while knit jumpers remain an everyday essential for battling chilly mornings and damp evenings. Neutral tones such as black, grey, navy, and beige are especially versatile, as they allow you to mix and match outfits without clashing colours or feeling repetitive.

Think of these items as your safety net: even on days when you feel uninspired, you’ll always have something reliable to wear. Once this foundation is in place, you can introduce trend-driven items each season to add freshness without needing to overhaul your wardrobe. For instance, a patterned scarf or brightly coloured trainers can instantly modernise a simple outfit built on timeless basics.

Experiment with Colours and Patterns

While timeless basics give you structure, experimenting with colours and patterns injects personality into your look. The UK has a long history of pattern-making, from Scottish tartan and houndstooth to bold stripes and polka dots, all of which can add interest to an outfit. Too much colour or pattern can feel overwhelming, so the best approach is gradual experimentation. Start small with a patterned tie, scarf, or pair of socks before moving on to bolder items like a statement jumper or blazer.

The key is balance. If you’re wearing a patterned piece, let the rest of your outfit act as a neutral backdrop. For example, a striped jumper looks fresh against dark jeans and a plain coat, while a tartan scarf can make even the simplest grey overcoat look stylishly British. Seasonal experimentation can also be fun – swapping out plain knitwear for a playful mens christmas jumper in December adds both charm and seasonal spirit. Over time, you’ll discover which colours suit your complexion and which patterns make you feel confident, allowing your style to evolve naturally without feeling forced.

Invest in Fit and Tailoring

No matter how stylish or expensive a piece of clothing is, if it doesn’t fit properly, it won’t look right. This is where tailoring becomes invaluable. The British fashion tradition has long emphasised well-fitted garments, from Savile Row suits to high-street blazers. Even small alterations, like shortening trousers or adjusting sleeve lengths, can completely transform how an outfit looks on you.

Tailoring isn’t just for formalwear – casual clothing benefits too. Well-fitted jeans that flatter your frame, shirts tailored to avoid excess fabric, or coats that sit neatly on your shoulders can elevate even the simplest look. When shopping, always prioritise fit over labels. A tailored £60 blazer can look far more polished than a poorly fitting designer one.

For those unsure where to start, consider investing in at least one tailored suit, a pair of perfectly fitting trousers, and a classic shirt. These items can be re-worn across numerous occasions, saving you from last-minute panic buying. Remember, style is about how clothes look on you, not how much they cost.

Add Personality with Accessories

Accessories are the finishing touches that turn a basic outfit into something personal and distinctive. A watch, scarf, or bag can act as a signature piece, quietly expressing your taste and identity. In the UK, where the weather often dictates practicality, accessories also serve a functional role. A stylish umbrella, for example, not only protects you from rain but also becomes part of your overall look.

The trick is subtlety. Instead of piling on too many accessories, choose one or two that resonate with you. A vintage leather satchel suggests sophistication and durability, while a flat cap or wool hat adds classic British charm. Jewellery, belts, cufflinks, and even socks can all be used to inject character into your outfit without overpowering it. For those who prefer a minimalist look, high-quality materials and clean designs make accessories feel timeless rather than flashy.

Accessories also allow you to adapt the same outfit to different settings. For example, swapping casual trainers for brogues, or adding a silk scarf to a plain coat, can instantly shift the tone from relaxed to polished. Over time, these details become part of your signature style, helping people recognise your look before you even say a word.

Style That Speaks for You

Forming a personal style is not about chasing every new trend or imitating someone else’s wardrobe – it’s about curating a collection of clothes that truly represent who you are and adapt seamlessly to your lifestyle. A strong personal style is built gradually, through conscious choices and small adjustments, rather than sudden overhauls. By beginning with versatile basics, experimenting with colours and patterns that bring energy to your outfits, and investing in tailoring that enhances the way clothes fit your body, you create a foundation that feels timeless. Finishing with accessories that add personality ensures your look is never bland but always authentically yours.

The beauty of personal style is that it evolves with you. What works in your twenties may feel different in your thirties or forties, and that’s perfectly natural. Each stage of life offers opportunities to refine and adapt your wardrobe so it continues to reflect your values, aspirations, and lifestyle. In the UK, where tradition and modernity constantly intertwine, style is also a cultural language – a way to express individuality while respecting timeless classics.

Ultimately, style should never feel like a costume or a burden. It should empower you, giving you confidence whether you’re walking into a boardroom, heading to a weekend market, or celebrating at a festive gathering. When your clothes reflect your true self, you’ll not only look good but also feel at ease in any setting, leaving a lasting impression that speaks louder than words.

FAQ

How do I find inspiration for my personal style?

Look to different sources: UK fashion magazines, Instagram, or simply people-watching in style-forward areas like Shoreditch or Glasgow’s West End. Save images that inspire you and identify recurring themes – these will guide your choices.

Is it expensive to build a personal style?

Not necessarily. Start with affordable basics from high-street brands, then gradually invest in quality pieces. Mixing budget-friendly finds with one or two luxury staples creates balance without breaking the bank.

How can I adapt my wardrobe for the UK’s unpredictable weather?

Layering is the answer. Invest in lightweight shirts, knitwear, and jackets that can be combined in different ways. Waterproof outerwear and versatile shoes are also essential for staying stylish regardless of rain or wind.

Should I follow fashion trends closely?

Trends are great for inspiration but shouldn’t dictate your entire wardrobe. Instead, pick one or two seasonal items that suit your personality and pair them with timeless basics. This way, your look feels fresh but still authentically you.

What’s the quickest way to upgrade my current style?

Focus on fit and accessories. Tailor a few of your favourite items and introduce stylish accessories like a statement watch or a patterned scarf. Small changes often have the biggest impact on overall appearance.

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TOP-5 Tips for Building Your Personal Style

Glasgow-based recruitment technology platform Willo has raised £3 million ($4 million) in fresh funding to combat the growing wave of AI-generated job applications, with a first-of-its-kind “blue tick” feature that automatically verifies candidate credentials.

The funding round, led by Peter Bauer, the founder of cybersecurity giant Mimecast, marks the largest in Willo’s history and takes total investment in the fast-scaling platform to £5.9 million ($8 million). Bauer, who took Mimecast from start-up to Nasdaq IPO, has invested £3.7 million ($5 million) into Willo over the past 18 months and will support its strategy for US expansion.

Willo was founded in 2020 by Scottish entrepreneurs Euan Cameron, Andrew Wood, and Hamish Livingston. The company has already achieved 64x revenue growth since launch, with revenues surging a further 70% in 2025. Today, it works with employers including Toyota, Samsung, DPD Group, and the NHS, and operates across 195 countries, processing millions of candidate interviews each year.

Its new Willo Verified Profiles product will provide employers with a trusted layer of verification — confirming applicants’ identity, education, work history, and skills assessments via aggregated third-party data sources. This aims to help hiring teams cut through an avalanche of AI-crafted CVs, which research by Jisc suggests has fuelled application fraud at two-thirds of large UK companies.

Cameron, Willo’s CEO, said: “Employers tell us they are inundated with AI-generated CVs that are hard to verify. That’s making it increasingly difficult for genuine, qualified candidates to stand out.

With Willo Verified Profiles, we’re building a new layer of trust into the hiring process — verifying identity, qualifications, skills, and experience using automation, data, and video interaction. It will be like a ‘blue tick’ for credentials.”

Bauer’s continued backing is seen as a major endorsement of Willo’s vision. Since stepping down as Mimecast CEO in 2024, he has invested in leading-edge tech companies worldwide.

He commented: “Willo is firmly established as one of the most progressive and exciting platforms in recruitment technology. It simplifies hiring for employers, improves access for candidates, and puts trust back into the process.

The team has built a solution that is ready for the challenges of today’s market — and I’m fully behind their vision for the next stage of growth.”

Over 50% of Willo’s revenue already comes from North America, and the new funding will accelerate its growth there. The company is preparing to open a new East Coast headquarters and will expand hiring across both the UK and US to scale its engineering, sales, and support teams.

Cameron added: “There are thousands of businesses Peter Bauer could back, so for him to double down on Willo in 2025 is an incredible endorsement. This is an enormous step forward for our team and our vision for how hiring should work in an AI-enabled world.”

Founded in 2020, Willo is a global candidate screening and interview platform headquartered in Glasgow, Scotland. Its software is used by thousands of organisations worldwide to simplify and secure recruitment. Willo is active in 195 countries and processes millions of interviews each year.

Read more:
Willo raises £3M to launch ‘blue tick’ verification for job candidates amid AI hiring surge

Britain is losing tens of thousands of female entrepreneurs, new government figures reveal, in a trend that threatens both economic growth and diversity.

Despite years of initiatives to encourage women into business ownership, the latest survey shows that female-led small and medium-sized enterprises (SMEs) have fallen to just 14% of the total — down from 19% in 2021.

That equates to tens of thousands fewer women at the helm of companies in the UK. The decline comes against a backdrop of rising taxes, mounting wage costs, and restricted access to finance, which experts say disproportionately affect women trying to break through as business leaders.

The Department for Business and Trade’s annual survey of 8,400 SMEs found that only 14% are now led by women, slipping from 15% in 2023 and 19% just three years ago.

The scale of this decline is significant: based on the DBT’s estimate of 1.42 million small and medium-sized employers, tens of thousands of female-led firms have vanished from the business landscape since 2021.

By contrast, the percentage of entirely male-led firms remains high at 43%, while gender-balanced leadership teams have inched up only marginally from 25% to 26%.

Why Female Entrepreneurs Are Falling Behind

Taxation and Rising Costs

The same survey found that taxation has overtaken energy costs and market competition as the number one barrier to SME growth. Sixty-one percent of firms said taxes were the biggest obstacle, up 16 percentage points from last year. For firms employing between 10 and 49 staff, that figure rose to 75%.

Hospitality and retail — sectors with a higher concentration of female-led businesses — reported even sharper increases in concern. In hospitality, a staggering 89% of businesses said tax pressures were forcing them to rethink their growth plans.

On top of taxation, the rising National Living Wage is hitting sectors that rely on large numbers of part-time and lower-paid staff, many of which are female-led. Thirty-one percent of SMEs cited wage pressures as a barrier, up seven points on 2022.

Access to Capital and Investor Bias

Debbie Wosskow, co-chair of the Invest in Women Taskforce, argues that the funding ecosystem is not set up to support women founders.

“Some of the sectors most likely to have women-led businesses — health, education, food — don’t receive the same investor spotlight or ‘buzz’ as tech or fintech,” she said. “This isn’t just about diversity; female-led businesses deliver higher returns. Investors are leaving money on the table.”

Research consistently shows that women receive a fraction of venture capital funding compared with men. A 2023 British Business Bank study revealed that less than 2% of VC investment went to all-female founding teams.

This funding gap forces many female entrepreneurs to rely on personal savings, family backing, or debt — options that are limited, particularly in an era of high interest rates.

The Confidence and Perception Gap

Surveys also highlight a confidence gap among female founders. Many report a lack of visible role models, persistent stereotypes about women in leadership, and structural barriers in networking and mentorship.

The perception that entrepreneurship is risky — especially amid economic turbulence — can also discourage women, who are more likely to bear primary family and caregiving responsibilities, from starting or scaling businesses.

Why This Matters for the Economy

The fall in female-led firms is not just an issue of equality; it is an economic problem. The government-backed Invest in Women Taskforce has estimated that if women started and grew businesses at the same rate as men, the UK economy could gain an additional £250 billion.

Yet rather than narrowing the gap, the latest figures suggest Britain is moving backwards. With female-led SMEs shrinking as a proportion of the business base, opportunities for innovation, job creation, and regional regeneration are being lost.

Rachel Reeves, the Chancellor, has repeatedly stressed her ambition to make Britain “the best place in the world to be a female entrepreneur”. But for many founders, rising taxes and squeezed consumer demand are delivering the opposite reality.

Britain’s decline in women-led firms contrasts sharply with trends in other advanced economies. In the US, women-owned businesses are one of the fastest-growing demographics, with numbers rising by more than 20% over the past decade.

France has introduced dedicated financing schemes for female entrepreneurs, while Scandinavian countries — with higher female employment rates overall — report stronger growth in women-led SMEs.

Experts point to structural support, including affordable childcare, investment incentives, and targeted mentoring schemes, as factors behind these successes.

What Needs to Change

Targeted Investment Reform

The biggest lever is capital. Wosskow and others argue for new funding vehicles designed specifically to back women-led businesses. These could include government-backed venture funds, tax incentives for investors who support female founders, and mandatory reporting of diversity data by VC firms.

Tax and Wage Policy Relief

While Reeves has little room for manoeuvre in her November Budget, targeted tax relief for SMEs — particularly in sectors with high female representation — could help stem the decline. Business groups also want a re-examination of wage thresholds for smaller employers.

Infrastructure and Support

Affordable childcare and flexible working remain critical enablers for women balancing entrepreneurship with family responsibilities. Expanding state-backed childcare provision would likely do more for female entrepreneurship than many business-specific policies.

A Cultural Shift

As Wosskow noted, female-led businesses should not be pigeonholed as a diversity initiative. They are commercial opportunities with high growth potential. Shifting the narrative from equality to economic benefit may be key in winning investor support.

The Road Ahead

The decline in women-led SMEs underscores the gap between government rhetoric and business reality. Despite initiatives like the Invest in Women Taskforce, the structural barriers of taxation, capital access, and cultural bias remain firmly in place.

Tina McKenzie, policy chair of the Federation of Small Businesses, has urged the government to set a bold target: ensuring half of self-employed individuals are women by 2035. That would mark a radical step-change from today’s figures.

But unless Reeves uses her November Budget to address the financial pressures squeezing SMEs — from tax hikes to wage costs — female entrepreneurs may continue to vanish from the business landscape, dragging Britain’s growth prospects down with them.

Read more:
Tax burden and capital barriers drive decline in Britain’s female entrepreneurs

Jaguar Land Rover (JLR) has been thrown a £1.5 billion taxpayer-backed lifeline after a crippling cyberattack left Britain’s biggest carmaker paralysed for almost a month.

The bailout, structured as a government loan guarantee, is designed to tide the company and its vast supply chain over until Christmas as it scrambles to restart production. JLR, owned by India’s Tata Motors, normally produces around 1,000 vehicles a day across its three UK plants. But since hackers breached its IT systems in late August, the company has been unable to build a single car — a standstill that has shaken Britain’s automotive sector to its core.

Business Secretary Peter Kyle confirmed that the Treasury, via UK Export Finance, will guarantee loans worth up to £1.5bn, enabling JLR to draw on private financing more quickly. The scheme is designed to prevent a collapse in the supply chain, which supports 120,000 jobs alongside JLR’s own 34,000 UK employees.

“This cyberattack was not only an assault on an iconic British brand, but on our world-leading automotive sector and the livelihoods that depend on it,” Kyle said. “This guarantee will help keep suppliers afloat and safeguard jobs across the West Midlands, Merseyside and beyond.”

Chancellor Rachel Reeves hailed the move as protecting a “jewel in the crown of our economy”.

JLR’s sprawling network of suppliers — from engine plants to component makers — has been hardest hit by the production freeze. Many small and medium-sized firms rely almost entirely on JLR contracts. Some told ministers this week they would need £1.5bn of support just to survive until Christmas.

While the Wolverhampton engine plant is expected to reopen in early October, insiders warn that a phased reboot will take months, with full production unlikely before the end of the year.

Industry figures are cautious about calling the loan guarantee a “rescue”, pointing out that JLR — not its suppliers — will ultimately be responsible for repayment. Export guarantees are not direct cash injections but rather state-backed assurances that banks will recover 80 per cent of loans if borrowers default.

The scheme was adapted during the Covid pandemic and has been used before to support industry. In July, Ford received a £1bn guarantee for its UK electric vehicle programme. In total, UK Export Finance extended £12.3bn in such guarantees in 2020-21.

Critics argue JLR, backed by the multibillion-dollar Tata Group, could have raised financing without state support. But ministers stress that the speed of delivery is critical in preventing supplier collapse.

Shadow Business Secretary Andrew Griffith welcomed the intervention but accused the government of dragging its heels. He also called for a new “cyber reinsurance scheme” to shield UK firms from increasingly sophisticated attacks.

The attack on JLR is the latest in a wave of high-profile hacks targeting British industry. The Co-op recently revealed an £80m hit from a breach earlier this year, while Marks & Spencer and Harrods have also disclosed incidents.

For JLR, the crisis comes at a delicate moment. The company is already grappling with slumping profits, falling sales, and delays to its electric vehicle rollout. Now, with hackers having exposed the fragility of its systems, Britain’s biggest carmaker finds itself fighting for survival through to Christmas.

Read more:
£1.5bn taxpayer rescue to keep Jaguar Land Rover alive after cyberattack shutdown

NBA 2K26 introduces an enhanced Cap Breaker system that allows players to push their MyPLAYER attributes beyond their original limits.

Understanding how to earn and use these valuable upgrades effectively can transform your build from good to elite. This comprehensive guide covers everything you need to know about Cap Breakers in NBA 2K26.

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What Are Cap Breakers?

Cap Breakers are special upgrades that let you increase your MyPLAYER’s attributes past their default maximum limits. Unlike regular VC upgrades, Cap Breakers are limited resources that provide permanent attribute boosts for your current save file.

The system has evolved significantly in NBA 2K26. While Cap Breakers still provide a +1 boost to high-rated attributes, they now offer much larger improvements when applied to lower-rated stats. For example, a low three-point rating on a center build could jump by 10+ points with a single Cap Breaker, potentially unlocking valuable shooting badges.

Here are some of the key cap breaker features:

Maximum 5 Cap Breakers per attribute
Permanent upgrades for your save file
Larger boosts for lower-rated attributes
Must max out an attribute before applying Cap Breakers
Cannot exceed absolute caps based on height, weight, and wingspan

How to Get Cap Breakers in NBA 2K26

There are 28 total Cap Breakers available in NBA 2K26, earned through various gameplay activities. Here’s a breakdown of all the sources:

Rep Rewards

The rep system provides the largest source of Cap Breakers with 11 total rewards. You’ll earn one Cap Breaker at these specific milestones:

Rookie V
Starter III
Starter V
Pro II
Pro IV
All-Star II
All-Star IV
Superstar II
Veteran II

Crew Rewards (4 Total)

Playing with a crew provides multiple benefits, including double rep gains and Cap Breaker rewards:

Crew Level 8: 1 Cap Breaker
Crew Level 15: 1 Cap Breaker
Crew Level 22: 1 Cap Breaker
Crew Level 30: 1 Cap Breaker

Build Specialization (2 Total)

Each specialization questline (Finishing, Shooting, Playmaking, Defense, or Rebounding) offers Cap Breakers at specific milestones:

Goal 6 completion: 1 Cap Breaker
Goal 8 completion: 1 Cap Breaker

Note: Specialization Cap Breakers are restricted to attributes within that category and don’t transfer to builds with different specializations.

Lifetime Challenges (2 Total)

Complete 100 Lifetime Challenges: 1 Cap Breaker
Complete 200 Lifetime Challenges: 1 Cap Breaker

Season Rewards (9 Total)

Each season offers one Cap Breaker for reaching Level 40. With nine expected seasons throughout the year, dedicated players can earn up to 9 seasonal Cap Breakers.

Fastest Ways to Earn Cap Breakers

Join a Crew

Crews are essential for efficient Cap Breaker farming:

Every crew member’s games contribute to progress
Playing with crew members provides double rep
Four guaranteed Cap Breakers from crew milestones
Use Discord matchmaking to find active 50-player crews

Rep Grinding

The fastest rep grinding methods include:

Playing 2v2 games for quick matches to 21 points
Focus on achieving A+ teammate grades for maximum rep gains
Prioritize assists and rebounds for better grades
Avoid 1v1 games as they rarely result in A+ grades

How to Apply Cap Breakers

Once you’ve unlocked Cap Breakers, applying them is straightforward:

Go to Main Menu, Progression, Attributes
Press R3 (right stick) to open the Cap Breaker interface
Select the attribute you want to upgrade
Confirm the application

Remember that you must fully upgrade an attribute with VC before you can apply Cap Breakers to it.

Strategic Cap Breaker Usage

Here are the best attributes to upgrade:

Build Type
Recommended Attributes
Reason

Shooting Builds
Ball Handle, Defense
Unlock better dribble moves and defensive badges

Big Men
Three-Point, Free Throw
Transform into stretch players

Playmakers
Shooting attributes
Add scoring versatility

Defenders
Offensive attributes
Create two-way capabilities

Key Strategy Tips:

Apply Cap Breakers to lower-rated attributes for maximum impact
Target attributes that unlock important badge thresholds
Consider your playstyle and what limitations you want to address
Save Cap Breakers for builds you plan to use long-term
Plan your allocation during build creation, not after

Cap Breaker Restrictions

Understanding the limitations helps you plan effectively:

Maximum Applications: 5 Cap Breakers per attribute
Physical Constraints: Cannot exceed absolute maximums based on your build’s physical measurements
Specialization Lock: Build specialization Cap Breakers only work on relevant attributes
Save File Specific: Cap Breakers don’t transfer between different MyPLAYER saves
Prerequisite: Must reach maximum potential rating before applying

Cap Breakers represent the pinnacle of MyPLAYER progression in NBA 2K26. While earning all 28 requires significant dedication across multiple game modes, the strategic application of even a few Cap Breakers can dramatically improve your build’s effectiveness.

Focus on the fastest earning methods first, plan your usage carefully, and remember that lower-rated attributes benefit most from Cap Breaker applications. With proper grinding and strategic thinking, you can transform your MyPLAYER into an elite competitor capable of dominating any game mode.

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NBA 2K26 Cap Breakers Guide

Tesco’s ambition to rival Ocado with a fleet of robotic warehouses has been thrown into turmoil after its technology partner went bust.

The supermarket had struck a deal with Canadian automation start-up Attabotics earlier this year to roll out robotic warehouse systems designed to revolutionise how online orders are fulfilled. But Attabotics has filed for bankruptcy protection and is now being sold off in a US court process, leaving Tesco’s high-tech expansion plan in limbo.

The collapse threatens to delay Tesco’s push into autonomous grocery fulfilment, just as Ocado cements its lead in the market. Kentucky-based Lafayette Engineering has stepped in with a bid to acquire Attabotics’ assets and intellectual property, but Tesco cannot move forward until the deal is finalised — and there is no guarantee that an agreement will be reached.

Attabotics’ technology was touted as a gamechanger, using robots to pick groceries in compact urban warehouses and even backroom store spaces. Tesco is understood to still be interested, but the setback raises questions about whether it can keep pace in the online grocery arms race.

The supermarket is already experimenting with its own subsidiary, Transcend Retail Solutions (TRS), which develops fulfilment software and sells it to international clients, including New Zealand’s Foodstuffs. TRS technology helps design efficient picking routes inside stores — a model that could become more attractive as rivals retreat from costly out-of-town robotic depots.

Morrisons has already scaled back its use of Ocado’s facilities, while US giant Kroger recently warned it was rethinking its 20-site Ocado deal. That caution wiped almost £400m off Ocado’s market value.

For Tesco, the Attabotics collapse could prove a major stumbling block in its ambition to sell itself as not just a supermarket, but a global technology player in grocery logistics.

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Tesco’s robot warehouse dream in chaos as tech partner collapses

Harrods has confirmed that hackers have stolen personal data from its online customers in a fresh IT security breach.

The luxury department store said details such as names and contact information were accessed via a third-party provider. Harrods insisted that no payment details or passwords were compromised and described the incident as “isolated” and “contained”.

In an email sent to shoppers on Friday evening, the retailer reassured customers that its own systems had not been directly hacked, and that the issue was unrelated to a previous attempted cyber attack in May.

A spokesperson said: “The third party has confirmed this is an isolated incident which has been contained, and we are working closely with them to ensure all appropriate actions are taken. We have notified all relevant authorities.”

The attack comes amid a wave of high-profile cyber incidents hitting major UK brands this year. Marks & Spencer, the Co-op, and Jaguar Land Rover have all suffered hacks that disrupted operations and caused multimillion-pound losses. Four suspects, aged between 17 and 20, were arrested by the National Crime Agency over the summer in connection with some of these breaches.

Cyber experts warn that incidents like the Harrods breach highlight the growing risks for consumers. Richard Horne, chief executive of the National Cyber Security Centre, said criminals were “refining their techniques” to cause maximum disruption. “They don’t care who they hit or how much damage is caused,” he warned.

Harrods stressed that shoppers can continue using its services safely but advised customers to remain vigilant.

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Harrods data breach: luxury retail giant warns customers after hackers steal personal details