Business

HM Revenue and Customs (HMRC) has been heavily criticised by MPs for not knowing how many billionaires pay tax in the UK, despite the limited number of individuals involved and the potentially vast sums at stake.

In a new report published by the Public Accounts Committee (PAC), MPs warned that HMRC must do more to understand and ensure how much the wealthiest are contributing to the public purse.

The report revealed that HMRC currently has no reliable method of tracking billionaire taxpayers, even though public interest in how much the ultra-wealthy contribute has never been higher.

“There is much public interest in the amount of tax the wealthy pay,” the report noted. “People need to know everyone pays their fair share.”

PAC member Lloyd Hatton said the issue was not about political arguments over wealth redistribution but about making sure HMRC is fit for purpose.

“This is about ensuring wealthy people pay the correct tax,” said Hatton. “While HMRC deserves some credit for increasing the tax take from the wealthiest in recent years, there’s still a very long way to go.”

The committee expressed disappointment that HMRC could not provide data on billionaire tax arrangements from its own systems, suggesting that “any single one of these individuals’ contributions could make a significant difference to the overall picture”.

MPs recommended that HMRC draw on sources like artificial intelligence and The Sunday Times Rich List to create a clearer understanding—citing the US Internal Revenue Service, which uses the Forbes 400 to track high-net-worth individuals.

At present, around 1,000 HMRC staff are dedicated to the tax affairs of the UK’s wealthiest individuals, though an additional 400 roles are being funded to step up this work, with a particular focus on increasing the number of tax evasion prosecutions.

A government spokesperson said: “The government is determined to make sure everyone pays the tax they owe. Extra resources were announced in the recent spending review which allows us to significantly step up our work on closing the tax gap among the wealthiest.”

The report comes amid growing scrutiny of offshore wealth, tax planning schemes and perceived inequality in the tax system. With the public finances under strain and a heightened focus on fairness, MPs are urging HMRC to be more ambitious in monitoring and collecting tax from the ultra-wealthy.

While recent years have seen a notable rise in HMRC’s enforcement efforts, the PAC says the department still lacks the tools, technology, and strategy to provide a full accounting of what billionaires owe—and what they are actually paying.

As pressure mounts on the Treasury to boost revenues without raising taxes on the general population, increasing transparency and compliance at the very top of the wealth ladder is becoming a political and economic imperative.

Read more:
MPs slam HMRC over lack of data on billionaire taxpayers in the UK

Chancellor Rachel Reeves has called on financial regulators to take a more pragmatic, pro-growth approach to oversight, unveiling a package of reforms aimed at unlocking investment and getting millions more Britons into the stock market.

Speaking to 350 business leaders at the Mansion House dinner, Reeves promised to ease regulatory burdens that she claimed were acting like “a boot on the neck of businesses”, while launching a nationwide advertising campaign designed to rekindle mass retail investment—evoking the spirit of the iconic 1980s “Tell Sid” privatisation drive.

The ad campaign, funded by 15 leading City firms, will target the 29 million UK adults currently holding savings in low-interest accounts, urging them to consider investing in shares and funds offering potentially higher returns. The campaign will run alongside the introduction of new “targeted support” measures allowing firms to guide novice investors without conducting full financial checks.

“For too long, we have presented investment in too negative a light—quick to warn of the risks, but not the rewards,” Reeves said. “It’s time to change that.”

Participating firms include Barclays, NatWest, HSBC, Lloyds, AJ Bell, Hargreaves Lansdown, Vanguard, and platforms like Robinhood UK and Trading 212. The London Stock Exchange and the Investment Association will help coordinate the initiative, with input from the Financial Conduct Authority and the Money and Pensions Service.

Reeves also used her Mansion House platform to announce a rethink of several post-financial crisis rules, including easing some capital requirements for banks, relaxing senior manager accountability frameworks, and reviewing the powers of the Financial Ombudsman Service.

Treasury officials hinted that more flexible warning labels on investment products could be part of the reforms—particularly to remove deterrents for women and first-time investors.

The reforms follow recent speculation that Reeves might curb tax-free allowances on cash ISAs to nudge savers towards stocks and shares products. Those plans have now been shelved in favour of positive incentives, rather than restrictions.

Another key measure will allow long-term asset funds (LTAFs)—vehicles that invest in illiquid assets such as infrastructure and private equity—to be included in stocks and shares ISAs for the first time, giving ordinary investors access to opportunities previously available only to institutions.

Paul Joyce, Partner at LAVA Advisory Partners, called it “a pragmatic reset” for the financial services sector: “This is a welcome shift from a decade of defensive regulation. It’s an opportunity to create a virtuous circle of investment, growth, and employment, particularly as international capital seeks a European home.”

Robin Anderson, Head of Product Management at Tribe Payments, added: “Reeves’ Mansion House speech marks a real pivot from policy posturing to practical action. Faster regulatory decisions and clearer frameworks are essential for fintechs like ours looking to bring new financial solutions to market quickly.”

He also praised the government’s recognition of innovation beyond London, noting that “fintech doesn’t stop at the M25,” and that unlocking regional growth would be crucial to the UK’s long-term competitiveness.

While the measures are intended to make investing more accessible, Reeves acknowledged that care must be taken not to undermine investor protection. Treasury insiders said the new targeted support framework—set to launch in time for the 2026/27 ISA season—will be tightly regulated and aimed squarely at helping savers take their first steps into the market with confidence.

With cash ISAs currently offering interest rates of around 1%, and equities returning an average of 9% over the past decade, Treasury data suggests there is huge potential to shift dormant capital into productive investment—while also fuelling UK economic growth.

As one official put it: “It’s not about throwing caution to the wind—it’s about putting opportunity back on the table.”

Read more:
Reeves takes bold step to boost UK share ownership with sweeping reforms and new investor campaign

The UK’s annual inflation rate surged to a 16-month high of 3.6% in June, according to new figures from the Office for National Statistics (ONS), in a surprise uptick that has cast serious doubt over the likelihood of an interest rate cut in August.

Economists had widely expected inflation to hold steady at 3.4%, but the latest data points to renewed price pressures—particularly in transport and food—which have pushed up the headline Consumer Prices Index (CPI).

ONS acting chief economist Richard Heys said the primary driver was motor fuel prices, which fell only slightly last month compared to a much sharper drop during the same period last year. Food price inflation also rose for the third month in a row, now running at 4.5% year-on-year—the highest since February 2024.

The latest inflation reading suggests the Bank of England may now be forced to delay any further interest rate cuts. The Monetary Policy Committee (MPC) has already reduced rates twice this year, taking them from 4.75% to 4.25%. A further 0.25% cut in August had been anticipated by markets—but that now looks increasingly uncertain.

Services inflation, a key indicator used by the Bank to assess underlying domestic price pressures, rose unexpectedly from 4.6% to 4.7%, raising concerns that inflation is proving stickier than forecast.

Anna Leach, Chief Economist at the Institute of Directors, said: “This surprise uptick in CPI to 3.6% is a disappointment for households and businesses. Services inflation, in particular, will concern the Bank—it had been expected to remain flat. With borrowing costs still high and economic growth stagnating, the UK is skirting dangerously close to stagflation.”

She added that attention will now shift to upcoming labour market data.

“The MPC will need clear signs that wage growth is easing and second-round inflation effects are fading before it can justify another cut.”

Martin Sartorius, Principal Economist at the CBI, echoed the caution: “June’s stronger-than-expected inflation print raises concerns that recent price pressures—especially from energy bills and higher employment costs—could become embedded.”

While the CBI still expects gradual rate cuts, Sartorius noted that the MPC’s next move would be “finely balanced”, as some policymakers may fear loosening too early and allowing inflation to remain above the Bank’s 2% target for longer.

The Bank of England had previously forecast inflation would peak at 3.7% this summer before falling back towards target by early next year. But with both headline and services inflation running hotter than expected, the Bank may now have to reassess its timeline.

For businesses, the uncertainty around monetary policy will do little to ease planning concerns. For consumers, the cost-of-living squeeze is likely to persist, with food and transport prices continuing to bite.

With wage data due imminently and the Bank’s next interest rate decision just weeks away, all eyes are now on whether the MPC will choose to hold its nerve or hold its rates.

Read more:
Inflation rises to 16-month high as rate cut hopes fade

In today’s world, there has been a massive shift: more and more people view their pets as family members or even children, rather than simply animals.

Cat owners are increasingly doing research to ensure they’re providing their furry family members with the best food, toys and more.

This is where social proof plays a big role; it helps expose people to trusted brands and educates them on the benefits of various products. Influencer marketing can greatly benefit your cat food brand by allowing you to connect with pet owners in an authentic and relatable way.

How Can Catfluencers Help Build Your Brand?

More people are turning to social media to see real reviews from users, rather than relying solely on images and descriptions on a brand’s website.

This is where catfluencers—cats with social media presence, often guided by their human counterparts—can build trust in your brand. If a catfluencer loves and endorses your product, their audience will hear their positive experience and possibly see how much their own pet enjoys your brand’s cat food.

By sharing personal stories and genuine experiences, catfluencers humanise your brand, making it feel more accessible and trustworthy.

Catfluencers also have access to wider and often more engaged audiences than many brands can reach on their own. These influencers can connect your brand with cat owners who value premium nutrition and quality—exactly your target demographic.

What’s more is that if a company is a cat food subscription company, rather than a company promoting one time sales, the investment in an influencer can lead to customers who stay loyal to the brand on a subscription basis for a long time; making them particularly valuable to the business in question.

Tips For A Successful Influencer Partnership

Cat food brands must approach influencer partnerships strategically and avoid simply choosing the first influencer they come across. Here are some key tips for creating a successful influencer collaboration:

Find A Suitable Influencer

Use tools such as Upfluence or HypeAuditor to find relevant catfluencers. It’s recommended to look for influencers with an engagement rate above average, and a following of 5,000–50,000. These so-called “micro-influencers” typically have highly loyal audiences.

It’s also essential to ensure the influencer aligns with your brand values—this will make the collaboration feel more natural and authentic.

Vet Your Influencers

Before working with any influencer, vet them thoroughly:

Confirm that their audience is based in the UK (or your intended market)
Check the quality of their content—is it consistent with the image you want for your brand?
Ensure they have a genuine, active following with strong engagement (e.g., comments, shares, not just likes)

Propose Mutually Beneficial Partnerships

Influencers expect fair compensation, whether through payment, free products, or affiliate commissions. Consider co-branded content or exclusive discount codes for their audience to drive more value for both parties.

Affiliate Programmes

Affiliate marketing is a cost-effective strategy. Influencers share unique links or discount codes with their followers and receive commission on sales made through those links. This model directly ties compensation to performance and provides measurable results.

Track Performance

To understand the impact of your influencer campaign, track metrics such as:

Website traffic
Sales from affiliate links
Social media engagement

Tracking performance will also help you determine whether you should expand into other platforms, such as TikTok or YouTube, especially if video content is outperforming static posts.

How To Build A Lasting Relationship With Catfluencers

While one-off campaigns can be helpful, building long-term relationships with influencers promotes stronger trust and more sustainable growth. Here’s how:

Keep Communication Clear And Professional

Clearly communicate your brand’s vision, values, and expectations, including deliverables, deadlines, and tone of voice. Professionalism builds mutual respect.

Honour Ongoing Support

If a particular catfluencer is making a positive impact, reward their loyalty:

Offer exclusive discounts or commissions
Provide early access to new product launches
Feature them on your website
Invite them to brand events

This makes them feel like valued brand partners, not just short-term promoters.

Drawbacks Of Influencer Marketing

Influencer marketing can be powerful, but it’s not without its challenges and some industries, often business to business (B2B) industries find it harder to use influencers. For example, it is more straightforward to sell a pet product to a consumer than it is to sell a UK phone system to an SME. Here are a few potential drawbacks to be aware of:

Delivering Real Experiences

Avoid influencers who create content that feels too sales-focused. It’s important that your catfluencer shares authentic stories and genuine experiences—audiences can easily spot inauthenticity, and it could damage your brand’s credibility.

Watching The Budget

Micro-influencers are typically cost-effective, often charging a few hundred pounds per post. Ensure the catfluencer you choose fits within your allocated marketing budget and that you’ve negotiated fair terms for both sides.

Can Catfluencers Make A Difference?

Absolutely. Catfluencers can significantly help diversify your brand’s reach, increase visibility, and even drive sales—if their audience likes what they see. Building a lasting relationship with a well-aligned influencer fosters both trust and brand loyalty.

By sharing their real-life experiences with your cat food brand—through sponsored posts, videos, or affiliate links—catfluencers can turn their influence into measurable results for your business.

Read more:
How Can Pet Influencers Monetise Partnerships With Cat Food Brands?

Tennis champions Jannik Sinner and Iga Swiatek may have lifted Wimbledon trophies this summer—but their victories come with a costly UK tax bill of more than £1 million each, according to leading tax experts.

Audit, tax and business advisory firm Blick Rothenberg has warned that despite not being UK tax residents, both the Italian men’s singles champion and the Polish women’s winner will face substantial tax liabilities on their UK earnings.

Robert Salter, Director at Blick Rothenberg, explained that while the players may not live in the UK, their £3 million Wimbledon prize money is still taxable under HMRC rules, alongside elements of their commercial income.

“Wimbledon will be obliged to operate withholding tax, at a flat rate of 20%, on the prize money that they pay to these stars,” said Salter. “However, Jannik Sinner and Iga Swiatek will ultimately be taxed in the UK at the top rate of 45% on their winnings—less any allowable business expenses they can deduct.”

In addition to their prize earnings, a portion of each player’s image rights income may also fall under the UK tax net, as HMRC considers this to be partly sourced from their presence and publicity during the tournament.

Salter added that while international tax law gives HMRC a clear legal basis to tax non-resident athletes on UK-sourced earnings, the UK’s system remains one of the least favourable for global sports stars.

“Many countries—including Germany—offer far more generous tax treatment to travelling athletes,” he said. “The UK’s relatively punitive regime has previously deterred stars like Usain Bolt and Rafael Nadal from participating in certain UK events, due to the financial impact.”

That said, Wimbledon remains one of the most prestigious events in the global sporting calendar, and its profile continues to attract top-tier athletes despite the associated tax burden.

While the organisers benefit from unparalleled visibility and global recognition, the players are left to weigh the cost of glory against their HMRC bill. For champions like Sinner and Swiatek, a Grand Slam title may be priceless—but the taxman still takes a significant share.

Read more:
Wimbledon winners face £1m UK tax bills despite non-resident status

Rural hospitals are closing fast. Over 130 have shut down in the last decade, according to the American Hospital Association. Many more are barely hanging on.

These hospitals serve small towns and remote areas. If they disappear, entire communities lose fast access to emergency care. Patients have to travel for hours. Sometimes they don’t make it in time.

One of the main problems? Radiology.

Scans are how doctors catch strokes, fractures, cancers, and more. Without fast, accurate reads, care slows down. Mistakes increase. Lives are at risk.

But rural hospitals can’t always afford full-time radiologists. Even when they can, finding one willing to move there is tough.

That’s where smart imaging support makes a real impact.

Who’s Solving the Problem

The Radiology Group Atlanta works with rural hospitals across the country. They’re not chasing big city contracts. Their mission is to keep small hospitals strong by giving them fast, expert radiology reads—any time, day or night.

Their radiologists include subspecialists in areas like brain, breast, and bone imaging. They don’t just read the scans—they help local doctors make hard calls in real time.

Dr. Anand Lalaji from the group shared one story: “A rural ER team called us late one night. They saw something odd on a CT scan. Was it a bleed or just a shadow? Our neuro-radiologist reviewed it right away and confirmed a small brain hemorrhage. That patient was flown out and treated within the hour.”

That kind of speed saves lives. And that kind of support keeps hospitals open.

The Numbers Tell the Story

A 2022 report from the National Rural Health Association found that delays in diagnosis cost hospitals an average of $6,000 per patient.

Another study in the Journal of Rural Health showed that hospitals with access to specialized imaging saw 22% fewer unnecessary patient transfers. That means fewer helicopter rides, fewer bills, and fewer beds taken up elsewhere.

Hospitals that catch problems early save money. Patients stay local. Trust in the hospital grows.

What Smart Imaging Support Looks Like

Subspecialists for the Right Scan

Most hospitals send all scans to the same reader. But one person can’t be an expert in everything.

The Radiology Group Atlanta assigns the right radiologist for the scan. A mammogram goes to a breast imager. A back injury goes to a musculoskeletal specialist. A head injury goes to a neuro expert.

This lowers errors and speeds up decisions. No guesswork. No delays.

Real-Time Communication

One reason small hospitals struggle with outside radiology is poor communication. Some groups take hours to respond. Others don’t take calls at all.

The Radiology Group Atlanta uses secure tools that let doctors text or call directly. No ticketing system. No layers of support staff.

One nurse at a partner hospital said, “We had a patient in pain and needed answers. I messaged the radiologist and got a response in under five minutes. We started treatment before the shift ended.”

That kind of access changes everything.

Consistent Teams

Hospitals don’t want rotating strangers reading their scans. Trust comes from consistency.

That’s why The Radiology Group Atlanta keeps the same team on each account. They know the local staff. They know the workflows. They know what matters most to that hospital.

When people know each other, they work better together.

On-Site Visits

Yes, it’s a remote service. But they show up anyway.

Their team visits partner hospitals in person. They meet the staff. They walk the halls. They learn the rhythm of the place.

“After we visited one of our hospitals, the tech team told us, ‘You’re the only radiology group that ever came out here,’” said Dr. Tejal Lalaji. “Now they call us first because they know we care.”

How Small Hospitals Can Maximize Radiology

Choose a Partner, Not a Vendor

Cheap services are tempting. But you get what you pay for. Hospitals should ask questions before signing up:

Who will read our scans?
Are they subspecialists?
How fast are the reports?
Can we talk to them directly?
Will they visit us?

Picking the right group can mean the difference between a working hospital and one struggling to keep its ER open.

Track What Matters

Don’t just measure cost. Track the impact.

How fast are the scans read?
How often do second opinions change the results?
How many transfers were avoided?
What do the doctors and nurses say about the reports?

These numbers tell the real story.

Make Radiology Part of the Team

Don’t treat imaging like an outside task. Loop the radiologists in.

Invite them to case reviews.
Share feedback.
Build a relationship.

When radiology feels like part of the hospital, everyone benefits.

What Imaging Groups Should Be Doing

This isn’t just on hospitals. Radiology groups need to step up too.

Here’s what works:

Assign small, consistent teams
Let hospitals get to know their radiologists.
Use fast, secure tools
Make communication simple and direct.
Offer subspecialty reads
Don’t make generalists guess on complex cases.
Visit hospitals
Even once a year makes a difference.
Ask for feedback and act on it
Relationships grow when people feel heard.

Why It All Matters

When a hospital closes, it’s not just a building that shuts down. It’s a whole network of care that disappears.

Specialized radiology can keep that network alive. It helps doctors act fast. It avoids expensive transfers. It keeps patients close to home.

Hospitals that partner with the right imaging group can survive—even thrive—in tough times.

The Radiology Group Atlanta is helping prove that. One scan, one hospital, one trusted relationship at a time.

Read more:
The Radiology Group Atlanta: Helping Small Hospitals Stay Open with Smart Imaging Support

Aldermore Bank has committed £25 million in funding to support the rapid expansion of Osprey Charging’s nationwide network of ultra-fast electric vehicle (EV) charging hubs.

The funding forms part of a wider £110 million senior debt facility co-arranged with a lending group including Novuna Business Finance, Société Générale, and the UK Government’s National Wealth Fund. The capital injection will enable Osprey to accelerate the deployment of high-performance EV charging infrastructure at key locations across the UK.

The move supports the UK’s transition to zero-emission transport ahead of the 2030 ban on new petrol and diesel vehicle sales, helping to meet rising demand for public EV charging and remove barriers to adoption.

Founded in 2016, Osprey Charging is now one of the UK’s leading public charging networks, delivering rapid and ultra-rapid charging with uptime exceeding 99%. The company places strong emphasis on customer experience, ensuring that charging hubs are located for maximum convenience and reliability.

Rather than prioritising sheer volume, Osprey’s growth strategy focuses on building trusted charging destinations that deliver value for drivers, with robust operations and long-term financial sustainability.

The company’s success has been recognised with several industry accolades, including Business Green’s Fast Track Company of the Year 2025, Zapmap’s EV Driver Recommended Network for five consecutive years, and Best EV Rapid Charging Network by Transport + Energy in both 2023 and 2024.

Lauren Pamma, Head of Energy and Infrastructure at Aldermore, commented: “Getting the UK ready for the EV transition means delivering infrastructure that drivers can count on. Osprey’s approach of putting customer experience and site quality at the heart of their strategy aligns perfectly with our commitment to backing sustainable, future-ready businesses.”

Ian Johnston, CEO of Osprey Charging, added: “We’re thrilled to be starting a new relationship with Aldermore, whose support is helping us deliver reliable, customer-focused charging at scale. Their funding will directly support our mission to build charging hubs that drivers trust and value – places I’d be happy to stop and recharge with my own family.”

As EV adoption continues to climb and the UK’s charging infrastructure scales up to meet demand, this funding marks a significant milestone in delivering clean, convenient transport solutions nationwide.

Read more:
Aldermore provides £25m funding package to boost Osprey’s EV charging hub rollout

A sharp decline in demand from pension funds for long-term UK government bonds could drive up the country’s borrowing costs by at least £20 billion over the coming decades, according to the Office for Budget Responsibility (OBR).

The government’s independent fiscal watchdog warned that the shrinking appetite for gilts among defined benefit (DB) pension schemes—once a reliable cornerstone of long-term bond ownership—will have major implications for public finances.

David Miles, a member of the OBR’s budget responsibility committee, described the outlook as “worrisome”, telling MPs that the UK is entering a new era in which one of the most dependable buyers of government debt is disappearing.

“You’ve got to find people and induce them to hold bonds,” said Miles. “That means you’ve got to offer them a better deal.”

The OBR estimates that this shift could add 0.8 percentage points to long-term gilt yields, increasing debt servicing costs by £22 billion. That figure may be conservative, given that public debt—currently at 100% of GDP—is expected to rise significantly in the decades ahead.

Tom Josephs, another OBR committee member, echoed the warning: “If debt is rising and you need to attract even more buyers, then likely there will be a bigger fiscal effect.”

Defined benefit schemes have traditionally held gilts to hedge long-term liabilities, but most are now closed to new entrants. The pensions market has moved toward defined contribution (DC) schemes, which tend to hold fewer government bonds. As a result, the OBR expects demand for gilts from DB schemes to fall from around £1 trillion—30% of GDP—to just 11% by 2050, with the bulk of that shift occurring before the end of this decade.

The change is forcing the UK Debt Management Office to pivot towards issuing more short-term debt, which tends to be more costly and volatile. It also increases reliance on more “price-elastic” buyers such as foreign investors and hedge funds, who typically demand higher yields than domestic pension funds.

Richard Hughes, chairman of the OBR, explained: “Defined benefit pension funds used to be a source of safe demand, and we think that demand is going to wane—and already has. This means the government has to lure in more price-elastic buyers. That has implications for the cost of debt.”

The shift in bondholder composition could also heighten volatility. Patient, long-term investors are being replaced by speculative actors, leading to greater sensitivity to market movements. The International Monetary Fund has similarly raised concerns about the fiscal risks tied to this structural change in gilt ownership.

The Bank of England is also under pressure to moderate the pace of its quantitative tightening and bond sales, which some economists argue are exacerbating instability in the gilts market.

With the OBR projecting that UK public debt could rise to around 270% of GDP over the next 50 years, securing reliable sources of bond demand is becoming more critical—and more expensive.

Unless new long-term investors can be found, the government may face higher borrowing costs just as fiscal pressures from ageing demographics, healthcare, and defence continue to rise.

Read more:
Decline in pension fund demand for UK bonds could drive £20bn surge in borrowing costs, OBR warns

In just three years, a medium-sized market town has cracked a code that’s eluded community development experts for decades. The Didcot Powerhouse Fund has delivered £400,000 in grants to nearly 9,000 residents, proving that when local businesses and civic leaders work together, they can achieve remarkable results.

Read more:
How a £400,000 fund in Oxfordshire shows the future of community investment

Growing anxiety over being ordered back to the office is taking its toll on UK workers’ wellbeing, according to new research by recruitment firm Hays.

In a poll of 3,600 employers and employees across both public and private sectors, more than a third (38%) of workers said that recent media stories about companies tightening their stance on office attendance had negatively affected their wellbeing. The findings come amid a broader return-to-office (RTO) push, particularly from firms in the financial sector.

Hybrid working, which became standard for more than a quarter (28%) of UK adults by early 2024, continues to enjoy strong support. Over four in five (84%) hybrid workers said that splitting their time between home and office has had a positive impact on their overall wellbeing—including mental, physical, social, and financial aspects.

The research revealed a gender split, with 87% of women saying hybrid working benefits their wellbeing, compared to 80% of men. Women also appeared more sensitive to RTO developments, with 42% saying their wellbeing had been negatively impacted by news of stricter in-office mandates, compared to 32% of men.

Younger employees are also disproportionately concerned. Those aged 20 to 29 were more likely to report wellbeing impacts from rising pressure to return to the office, in contrast to workers aged 50 and over.

A major concern cited in the report was financial pressure, particularly the cost of commuting. Nearly six in 10 (59%) respondents said financial worries would reduce their willingness to spend more time in the office.

The findings come as several high-profile employers reassert office attendance requirements. HSBC warned UK high street banking staff that bonuses could be cut if they fail to spend at least 60% of their working time at their desks. Barclays and Santander have also increased expectations around in-office working.

Meanwhile, Man Group—the world’s largest listed hedge fund—recently ordered London-based analysts to return to the office five days a week in June, following a period of underperformance.

Hannah Pearsall, Head of Wellbeing at Hays, warned that companies underestimating the impact of rigid return-to-office policies could face serious consequences.

“The popularity of hybrid working shows no signs of wavering, and the role it plays in improving wellbeing should not be overlooked,” Pearsall said.
“A lack of awareness around the impact of return-to-office mandates—particularly on financial wellbeing—could be catastrophic for the sustained success of their business.”

As businesses continue to grapple with productivity, retention and morale, the data suggests that flexibility is no longer just a perk—it’s a workplace expectation with significant implications for employee health and business performance.

Read more:
Fear of return-to-office mandates harming employee wellbeing, survey finds