Business

Senior bankers in the UK will be able to collect their bonuses more quickly after regulators moved to relax rules introduced in the wake of the 2008 financial crisis.

From Thursday, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) will reduce the bonus deferral period for top banking executives from eight years to four, allowing partial payouts to begin in the first year rather than year three as previously required.

The move is part of a broader effort to make the UK financial sector more competitive internationally, bringing bonus structures closer in line with those in the US and Asia, where deferrals are generally shorter — or, in the case of New York, not required at all.

The regulators said the changes would “cut red tape” while maintaining safeguards designed to prevent the kind of reckless risk-taking that helped trigger the global financial crisis 17 years ago.

Sam Woods, Chief Executive of the PRA, said: “These new rules will cut red tape without encouraging the reckless pay structures that contributed to the 2008 financial crisis. These changes are the latest example of our commitment to boosting UK competitiveness.”

The reforms mark another significant loosening of the UK’s post-crisis pay restrictions following last year’s decision to scrap the EU-wide cap that limited bonuses to twice a banker’s base salary.

Under the new regime, senior managers will still be subject to stringent “clawback” provisions, allowing firms and regulators to recover bonuses if misconduct or mismanagement emerges after payout.

Sarah Pritchard, Deputy Chief Executive at the FCA, said: “The new rules also mean senior managers will continue to follow our high standards and remain on the hook where poor decisions affect consumers and markets.”

The Treasury has been pressing regulators to review financial rules as part of a broader push to enhance the City’s global competitiveness. In July, Chancellor Rachel Reeves met senior figures from the PRA, FCA and Bank of England at 11 Downing Street to urge a “business-friendly” approach to regulation.

The timing of the rule change — ahead of the January bonus season — will be welcomed by many financial firms, which have enjoyed a profitable year amid volatile markets that have boosted earnings from trading equities, bonds, commodities and currencies.

While critics warn that easing bonus rules risks reigniting short-termism in the sector, supporters argue the reforms are overdue and necessary to retain top talent in London amid stiff competition from global financial hubs.

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Bankers to receive bonuses faster under post-crisis rule change

Maryann Misiolek is an accomplished real estate investment professional, industrial engineer, and finance manager based in Hummelstown, Pennsylvania.

She is the owner and operator of MarDav Enterprises, LLC, a property rehabilitation and management firm she founded with her husband, J. David (“Dave”) Misiolek, in 2001. For over two decades, the company has revitalised homes and neighbourhoods across Central Pennsylvania, specializing in the restoration, rental, and resale of distressed properties.

A graduate of Lehigh University with a Bachelor’s in Industrial Engineering and a Master’s in Management Science, Maryann began her career with a strong foundation in analytical thinking and problem-solving. Those early skills now underpin the logistical precision and financial strategy that guide her work at MarDav.

Maryann’s approach to business blends technical discipline with community awareness. She believes success is built on consistency, trust, and purpose. “You can’t fake hard work,” she says. “You have to show up every day, even when it’s difficult.”

Beyond business, Maryann is a dedicated volunteer and community leader. She serves as Chairperson of the Helping Hands Committee and on the Finance Council at St. Ann Byzantine Catholic Church in Harrisburg. She also supports local youth sports and charitable initiatives throughout the region.

Driven by values of integrity, perseverance, and service, Maryann continues to shape her local community through action and example. Her work proves that meaningful success is measured not just in profit, but in the positive impact one leaves behind.

Q&A with Maryann Misiolek

How did your journey in real estate begin?

It started in 2001 when my husband Dave and I decided to combine our skills. He and I have very similar backgrounds, so we blended our engineering, operations and finance knowledge to build a company of our own. We saw neglected properties around Central Pennsylvania and thought, “Why not turn them into homes again?” That’s how MarDav Enterprises began. We started small, one project at a time, and built from there.

You’ve been restoring properties long before it became a television trend. What drives that passion?

We’ve always believed in the value of hard work and transformation. Long before the renovation shows came along, we were already doing it. For us, it’s not about glamour or profit — it’s about improving communities. When we finish a project and see a family move into a once-abandoned house, that’s the reward.

How has your background in engineering influenced your business?

Engineering taught me how to think critically. At Lehigh University, I studied Industrial Engineering and Management Science, which trained me to manage systems and people effectively. That structure helps with planning, budgeting, and logistics in every project we take on. It also taught me to approach challenges with calm and precision.

What’s been the biggest lesson you’ve learnt as a business owner?

Consistency matters more than talent. You can’t fake commitment. There are days when the work is tough, but showing up makes all the difference. I also learnt that integrity builds trust — with clients, tenants, and partners. Without trust, there’s no long-term success.

You’ve mentioned working closely with your sister, Trudy Stewart. What’s that like?

Trudy’s a brilliant realtor, and we make a great team. We even joke that we’re the “Sold Sisters.” My husband and I find opportunities, and handle the transformation side, and she is there to connect us with the property’s new owner. It’s a family effort, which keeps things fun and grounded.

MarDav has rehabilitated many homes in Central Pennsylvania. How do you choose which projects to take on?

We focus on properties that have good bones but have been neglected. Some of them sit empty for years. When we see potential, we step in. We work from the ground up — repairs, design, and sometimes even landscaping. It’s about creating lasting value, not just flipping a house for a quick return.

Outside of business, you’re very active in your community. Why is that important to you?

Community service gives life balance. I’m the Chairperson of the Helping Hands Committee and part of the Finance Council at St. Ann Byzantine Catholic Church. We organize outreach for local families and support charitable projects. I’ve also been involved in youth basketball, soccer and tennis clubs. It keeps me connected to what really matters — my children and others in the community.

How do you balance work, volunteering, and family life?

I live by the motto: “Work to live, not live to work.” That’s taken years to learn. My motivation used to come from within, but now it’s my family that drives me. My husband and our three children remind me that success means having time for the people you love.

What advice would you give to young professionals starting out?

Don’t waste your twenties. That’s your time to work hard, learn, and set up your future. Time really is your biggest advantage. If you invest in yourself early, you’ll have the freedom later to live life on your own terms.

What’s next for you and MarDav Enterprises?

We’ll keep doing what we’ve always done — improving homes and helping our community grow stronger. The work is never finished, but that’s what keeps it fulfilling.

For more about Maryann Misiolek and her community work, visit St. Ann Byzantine Helping Hands.

Read more:
Inside the Mind of Maryann Misiolek: Building Homes and Hope

Harrogate and London-based fintech Grateful has raised £1.5 million ($2m) in seed funding from Calculus Capital to accelerate development of its automated tip pooling and tronc platform for frontline workers.

Founded in 2022 by Mason Potter (CEO), Jarrod Potter (Chair), and Damian Guy (CPTO), Grateful aims to solve one of hospitality’s most persistent problems: the complex and opaque distribution of tips in a cashless economy. The startup’s software automates tip pooling, compliance, and payments, giving employers transparency while helping staff receive earnings faster and more fairly.

The founders’ inspiration came from their experience in the United States, where structured tip management proved to boost morale and retention. In the UK, they saw operators “drowning in admin” — using sprawling Excel sheets to manage tronc systems while facing rising National Insurance costs and new legal obligations.

Potter said the service sector’s outdated tipping systems were “failing both workers and employers.”

“Frontline workers are the backbone of the service economy, yet they remain under-served by outdated systems that make tipping opaque, distribution slow, and compliance a headache for employers,” he said. “With the shift to a cashless society and the new Employment (Allocation of Tips) Act, fair and transparent digital tipping has become essential.”

The new legislation, introduced in 2024, mandates that all tips must go directly and transparently to workers, sparking demand for compliant, automated solutions like Grateful.

Grateful’s technology integrates digital tipping, tronc management, and worker money tools in one system, reducing manual work for businesses while giving staff real-time visibility into their gratuities. The platform has grown 400% year-on-year, with over 50,000 users and partnerships with leading hospitality tech providers including Toast, EposNow, Deputy, and PayCaptain.

The £1.5 million investment will fund Grateful’s next growth phase — developing AI-powered financial tools, enhancing compliance functionality, and expanding into new markets.

Alexander Crawford, Co-head of Investments at Calculus Capital, said: “Grateful’s platform brings fairness, transparency and compliance, in a cost-efficient way, to a space that has historically lacked all three. With new legislation driving change, Grateful is perfectly positioned to lead the way in ensuring every hospitality worker gets the tips they deserve.”

Potter added that Calculus’s backing would help scale the business internationally: “Their support gives us the firepower to build a platform that not only solves compliance for businesses but empowers workers all over the world by giving them greater ownership and transparency over their hard-earned tips.”

Grateful’s goal is to become the category leader in frontline worker pay and benefits, helping employers improve retention and morale while streamlining compliance. “Our mission is simple,” Potter said. “To make Grateful synonymous with gratitude for the gig economy — and transform how frontline workers are rewarded in the modern era.”

Read more:
Grateful secures £1.5m to transform tipping for frontline workers

Remember when you had to wait all week for one new episode of a TV show? Yeah, those days are gone. Now you can binge ten seasons, watch a hundred TikToks, and still have time to check out a new game, all before dinner.

The internet turned the world into one giant entertainment buffet. There’s comedy, drama, gaming, memes, sports, music, and more, all fighting for attention. And that’s kind of awesome. With so much variety, boredom doesn’t stand a chance. Every scroll or click feels like opening a mystery box … you never know what’s coming next.

Click, Watch, Repeat

Streaming services are like candy stores for your eyeballs. One minute you’re deep into a superhero saga, and the next you’re watching a true-crime doc about someone stealing zoo animals. Platforms like Netflix, Disney+, and YouTube keep audiences glued by mixing everything: action, romance, horror, and even weird cooking shows where people bake cakes shaped like trainers. It’s that constant switch-up that makes it fun. Variety keeps people curious, and curiosity keeps people watching. Who can resist the ‘Next Episode’ button, anyway? It’s practically hypnotic.

Gaming, Music, and Other Good Distractions

Let’s be honest … sometimes, just watching stuff isn’t enough. People want to tap, play, dance, or sing along. That’s where the real fun starts. Some jump into video games to blow off steam after school. Others chill with brain-teasing puzzles, mobile trivia, or random challenges they find online. Then there are the thrill-seekers who live for a bit of risk. They might play online slots, try out digital card games, or spin a wheel just to see what happens. Meanwhile, playlists jump from sad songs to hype beats faster than moods change. There’s always something to match the moment.

The Rise of the Tiny Attention Span

Thanks to short-form videos, people now expect entertainment to be fast, funny, and scrollable. TikTok, YouTube Shorts, and Instagram Reels are basically endless loops of chaos, in the best way. One video teaches you how to make a mug cake; the next is a cat pretending to DJ. These bite-sized bursts of fun are addictive because they never stop surprising you. If one clip flops, no problem, another one’s right behind it. That constant variety keeps the mind buzzing and the thumb scrolling long past bedtime.

Algorithms Know You Better Than You Do

Ever notice how the internet always seems to get you? You watch one video about football and suddenly your feed’s full of match highlights, funny commentary, and players dancing on TikTok. That’s the algorithm working its magic. It figures out what you like, then mixes in just enough new stuff to keep things interesting. It’s like having a personal DJ for your entertainment life, one who occasionally throws in something random just to see if you’ll vibe with it. Creepy? Maybe. Convenient? Absolutely.

Variety Is the Spice of Screen Time

Here’s the truth: people love options. They love to switch things up, try new stuff, and never get stuck doing the same thing twice. The digital world delivers that on a silver platter. One minute it’s sports, the next it’s memes, then it’s an emotional documentary that somehow makes you cry at 2 am. That’s what makes today’s entertainment so addictive; it never stops surprising. Variety keeps things fun, fresh, and full of life. So, whether you’re watching, playing, or scrolling, one thing’s for sure: the next click could be your new favourite thing.

Read more:
Why Variety Keeps Audiences Engaged in the Digital Era

In an increasingly saturated and fast-paced commercial environment, UK businesses are finding new ways to stand out and succeed.

With consumer expectations at an all-time high and competition around every corner, relying solely on a good product or reliable service is no longer enough. Companies are going beyond the basics to build stronger brands, deeper customer relationships, and smarter operations that keep them relevant and competitive.

Creating Strong Brand Identity

One of the most effective ways UK businesses are setting themselves apart is through a clear and consistent brand identity. In a crowded market, a well-defined brand helps customers quickly understand what a company stands for, what it offers, and why it matters. From logo design and colour schemes to tone of voice and customer messaging, businesses are investing more in branding that resonates with their target audience.

For many, this means positioning themselves not just around product features or price, but values. Whether it is a commitment to sustainability, community engagement, or ethical sourcing, UK consumers are increasingly drawn to brands that reflect their own beliefs. Businesses that express authenticity and purpose have a stronger chance of building customer loyalty and standing out from faceless competitors.

Providing Real Value to Customers

One of the most effective long-term strategies for competing in a busy marketplace is offering genuine value. UK businesses that focus on solving real problems, improving lives, or making everyday experiences easier are earning lasting customer loyalty.

Real value might come in the form of higher product durability, exceptional customer support, faster delivery times, special sales and offers, or added features that save customers time and effort. It could also mean offering educational resources, useful advice, or creative inspiration that goes hand-in-hand with a product or service.

A good example can be found in the fitness and wellness sector, where businesses add value by providing tailored workout plans, nutritional guidance, and access to expert advice—all often included as part of a membership or purchase. In the online entertainment space, many digital casinos stand out by offering promotional bonuses, free spins, and loyalty rewards. These extras give players more for their money and create a more engaging experience, helping platforms build trust and retain customers in a competitive market. While at-home bettors find rewards and promotions on local sites in the UK, it’s often the international non GamStop casino sites that offer the largest rewards. These platforms, which are licensed outside of the UK and skip rules like GamStop, are known not only for their flexible wagering options but for their lucrative and unique promotional offers that give real value to gamers.

Likewise, subscription services in areas such as meal kits or curated book deliveries often include personal touches, flexible options, and unexpected extras that enhance the experience. When customers feel they are getting more than just a transaction—when they feel supported, understood, and prioritised—they are far more likely to return and recommend the brand to others. Businesses that succeed in consistently delivering value are able to build stronger reputations and more resilient growth in even the most competitive sectors.

Delivering Personalised Experiences

UK companies are also turning to personalisation as a way to deepen customer connections and improve performance. From online retailers to service providers, businesses are using data to tailor experiences and make customers feel seen and valued. Personalised product recommendations, targeted email marketing, and dynamic website content are all being used to create experiences that are more relevant to individual shoppers.

This approach not only improves conversion rates but also builds stronger brand relationships over time. When customers receive timely, useful, and meaningful interactions from a brand, they are more likely to return. As data tools become more accessible, personalisation is no longer a luxury for big firms alone. Even smaller businesses across the UK are adopting this approach to compete more effectively.

Focusing on Exceptional Customer Service

While product quality remains important, many UK businesses are winning over customers through exceptional service. Fast response times, clear communication, and proactive support are now critical parts of the buying journey. In an age where people expect quick and smooth transactions, businesses that provide seamless service stand out.

Beyond efficiency, there is also a growing emphasis on human interaction. Brands that offer friendly and helpful communication, whether through live chat, email, or phone, are more likely to turn first-time buyers into loyal customers. Many UK companies are also empowering customer service teams to solve problems creatively rather than following rigid scripts, making interactions feel more personal and effective.

Investing in Innovation and Technology

Technology continues to play a central role in helping UK businesses stay ahead. From e-commerce integrations and AI-driven chatbots to CRM platforms and remote work systems, technology is driving efficiency, improving the customer journey, and opening up new sales channels.

Innovation is also visible in how businesses bring new products or services to market. Whether it is a restaurant using an app-based pre-order system or a fitness brand offering on-demand online classes, UK companies are using digital tools to meet customers where they are. Innovation does not always mean reinventing the wheel. Often, it is about applying existing tools in smarter ways to improve operations and deliver better experiences.

Building Communities and Engagement

Many businesses are finding value in building communities around their brand. This could be through social media groups, online forums, or live events that connect people with shared interests. In these spaces, customers do more than shop. They engage, share opinions, and feel like part of something bigger. Brands that cultivate community often benefit from word-of-mouth marketing and stronger brand loyalty.

Content also plays a major role in driving engagement. UK companies are increasingly using blogs, videos, and social posts to inform, entertain, and inspire their audiences. Rather than pushing products directly, they use content to build trust, share their values, and position themselves as thought leaders within their field.

Sustainability and Ethical Practice

More UK consumers are making purchasing decisions based on how ethical and environmentally responsible a business is. As a result, many companies are taking meaningful steps toward more sustainable operations. This could include sourcing locally, reducing packaging, offering eco-friendly alternatives, or improving supply chain transparency.

Rather than treating sustainability as a box-ticking exercise, successful brands are embedding it into their business model. They communicate their efforts clearly and honestly, building trust with consumers who care about the impact of their purchases. In a busy market, being known for doing the right thing can be a powerful differentiator.

Using Reviews and Social Proof

Another area where businesses gain an edge is through building and showcasing trust. In a marketplace full of options, people often turn to reviews, ratings, and testimonials to guide their choices. UK businesses are actively encouraging customer feedback and using it as part of their marketing strategy.

A well-placed review or case study can be more persuasive than a slick advert. Brands that respond to reviews, whether positive or critical, also show that they are engaged and committed to improvement. This openness helps build credibility and makes potential customers more confident in their buying decision.

Adapting Quickly to Market Changes

Agility has become a key trait for businesses competing in a crowded marketplace. Whether responding to shifts in consumer behaviour, new technology, or global events, UK companies that can pivot quickly are better placed to thrive. This might mean adjusting product lines, changing communication strategies, or finding new ways to reach customers when traditional channels become less effective.

Many smaller businesses, in particular, have shown remarkable flexibility in recent years, using digital tools to adapt in real time. Their ability to test ideas, get feedback quickly, and iterate gives them an edge over slower-moving competitors.

Read more:
Beyond the Basics: How UK Businesses Compete in a Busy Marketplace

Donald Trump’s two Scottish golf courses have posted another year of financial losses despite a strong rise in turnover, as the former US president’s business empire continues to invest heavily in luxury tourism and golf.

Accounts filed for 2024 show that Trump Turnberry, in Ayrshire, increased its revenue by 15 per cent to £24.2 million, driven by higher visitor numbers, luxury travel groups and stronger performance in its high-end golf offering, where green fees can exceed £1,000 a round.

Operating profit at the historic resort more than doubled to £2.3 million, but a £2.9 million depreciation charge pushed the business into a pre-tax loss of £631,779 — an improvement on the £1.7 million loss recorded the previous year, when depreciation costs were slightly lower at £2.8 million.

At Trump International Golf Links in Aberdeenshire, turnover rose by 22 per cent to £4.5 million, narrowing losses to £937,693 compared with £1.4 million in 2023. The improvement was attributed to increased visitor numbers and international attention following tournaments such as the PGA Seniors Championship, hosted at the site in August 2024.

In a statement accompanying the accounts, Eric Trump, the former president’s son and executive vice-president of the Trump Organization, said both properties were now seeing the benefits of sustained investment and renewed interest from overseas tourists.

He said: “The revenue increase was driven by luxury travel groups and leisure visitors to Turnberry, while the golf business outperformed expectations. Ownership remains steadfastly committed to their vision for the properties and confidently foresees a positive fiscal improvement as the investment activities flow through in the medium and longer term.”

The Turnberry resort, which employs more than 440 staff, has undergone significant refurbishment since its purchase by Trump in 2014 from the Dubai-based group Leisurecorp in a deal reportedly worth around $60 million. The course, redesigned by Martin Ebert, last hosted The Open Championship in 2009, when Stewart Cink defeated Tom Watson in a playoff. The R&A has since declined to return the major tournament to the course, citing logistical challenges and, in recent years, political sensitivities surrounding the Trump brand.

Nevertheless, the organisation said earlier this year it was conducting new feasibility work on Turnberry’s future as a championship venue, suggesting it may not be permanently off the rota.

In Aberdeenshire, where the first Trump course opened in 2012 after a lengthy and contentious planning battle over environmental concerns, the Trump Organization remains focused on expansion. Trump himself visited the site in July 2024 to open a second course, designed by renowned architect Martin Hawtree, as part of an effort to turn the coastal estate into a global golf destination.

Sarah Malone, executive vice-president of Trump International Scotland, said both properties “saw substantial revenue growth across all income streams in 2024 and attained their highest ever annual turnovers.”

“Both businesses have also benefited from major capital investments to further expand and enhance their world-ranked golf courses and leisure facilities,” she added.

Neither business declared a dividend for the year. Trump International employs more than 100 staff, with both properties continuing to be backed by the Trump Organization’s broader investment strategy in European hospitality and golf assets.

Read more:
Donald Trump’s Scottish golf resorts still loss making despite rising revenues

Revolut’s remarkable rise from a London startup to one of the world’s largest digital financial platforms has transformed the banking landscape. But its long wait for a UK banking license reveals a fundamental tension at the heart of modern finance — the widening gap between technological innovation and regulatory adaptation.

With more than 65 million users across 38 markets, Revolut has redefined what consumers expect from financial services. Its all-in-one app offers instant international transfers, competitive foreign exchange, budgeting tools, crypto and stock trading, and seamless digital payments. To many, it feels less like a bank and more like an operating system for modern money management.

Yet despite its global reach, Revolut still lacks the ultimate endorsement of regulatory trust: a full UK banking license. The delay — now stretching over three years — underscores how regulators are struggling to evaluate institutions that operate at digital speed and global scale.

The Prudential Regulation Authority (PRA), part of the Bank of England, is understood to have hesitated over approving Revolut’s application due to concerns about governance and risk management — particularly how its internal controls can keep pace with rapid international growth.

According to GlobalData, this hesitation reflects a deeper systemic issue rather than a case of bureaucratic obstruction.

“Unlike traditional banks, which grew incrementally over decades with local branches and sequential market entry, Revolut has scaled 5,000% in a few years, operating simultaneously across dozens of countries,” says Joanne Kumire, Lead Analyst for Banking and Payments at GlobalData. “This is hard mode for regulators. The PRA’s frameworks were never built for a bank operating at this speed and scale.”

That unprecedented growth brings equally unprecedented complexity. Each market Revolut operates in has its own financial, data-protection, and anti-money-laundering regimes. Coordinating compliance across them in real time requires automation and predictive monitoring — far removed from the manual oversight that traditional banks rely on.

A full UK license would allow Revolut to take deposits, issue loans, and offer products under the protection of the Financial Services Compensation Scheme (FSCS). It would also place the company under the PRA’s strictest prudential requirements, enabling it to compete head-on with high-street incumbents.

In effect, the license would mark Revolut’s transition from a fintech disruptor to a fully-regulated British bank — a symbolic win for both the company and the UK’s post-Brexit fintech ambitions.

But as Kumire points out, the question isn’t simply whether Revolut is ready for the PRA — it’s whether the PRA’s frameworks are ready for Revolut.

“Traditional risk management assumes physical infrastructure, local compliance officers, and predictable transaction flows. Revolut’s compliance is digital-first — API-driven, real-time, and distributed across jurisdictions,” she explains. “Both aim for financial stability, but they achieve it through fundamentally different means.”

That distinction raises a critical issue for policymakers worldwide: how to assess risk when the very nature of banking is changing.

Legacy regulatory models measure capital adequacy, liquidity, and operational resilience in periodic reports — quarterly, annually, or in stress-testing cycles. But digital banks function on continuous data, updating risk models by the second. A regulatory model designed for balance sheets, not algorithms, is inherently out of sync.

Experts argue that regulators must begin to measure systemic risk, technology resilience, and cyber-governance with the same weight once given to loan-to-deposit ratios. For fast-scaling neobanks like Revolut, this would allow faster approval without compromising safety — a new equilibrium between innovation and prudence.

The outcome of Revolut’s license bid carries significance well beyond its own operations. The UK’s decision will help define how advanced economies balance innovation with accountability in the era of borderless finance.

If the PRA holds the line, it may reassure traditionalists but risk signalling to the world that Britain’s regulatory culture still favours caution over competitiveness. If it adapts too readily, critics warn, it could invite systemic vulnerabilities.

Kumire sums it up bluntly: “The stakes are high. While delay risks eroding Revolut’s market position, the PRA must also ensure that the UK doesn’t become the site of a systemic failure. Revolut isn’t a startup testing the waters — it’s a global institution asking the UK to catch up.”

“How the PRA responds could define not only Revolut’s trajectory but the future of digital banking regulation itself.”

Revolut’s story is emblematic of a sector approaching maturity — where innovation collides with the boundaries of old financial law. The company’s struggles reflect neither failure nor fault, but rather the growing pains of an industry moving faster than its referees.

Whether the UK ultimately grants Revolut its license, the conversation it has provoked will shape how nations regulate the next generation of banks — entities built in code, operating across borders, and judged by frameworks still written for paper.

Read more:
Revolut’s UK banking license delay highlights growing rift between innovation and regulation

Be.EV, one of Britain’s fastest-growing ultra-rapid electric-vehicle charging networks, has announced a major price cut that halves the cost of fast charging and sets a new benchmark for affordability in the public-charging sector.

The company’s new 39p per kilowatt-hour (kWh) tariff makes Be.EV one of the first charge-point operators to offer public ultra-rapid charging cheaper than refuelling with petrol or diesel.

With around 40% of UK households lacking off-street parking, millions of drivers depend on public chargers and face higher costs — compounded by a 20% VAT rate compared with the 5% levied on domestic electricity. Be.EV says its new tariff is designed to end this “inequality” and make EV ownership accessible for everyone, not just homeowners with private driveways.

“For too long, EV charging in the UK has been built for the privileged few with a driveway,” said Asif Ghafoor, Be.EV’s chief executive. “Those who rely on public charging — people in flats, terraced housing or busy city centres — pay much more than those who can plug in at home. That’s not just unfair, it’s a barrier to mass adoption.”

“Our new 39p/kWh price point proves ultra-rapid charging can be cheaper than filling a petrol tank. It tears down one of the last excuses not to go electric. Drivers deserve a network that’s fast, fair and future-proof — and we’re determined to deliver it.”

The lower price can be accessed in two ways. Subscribers to Be.EV’s Mega Plan (£9.99 per month) will benefit from the 39p/kWh rate at all times, while those on the Mini Plan (£4.99 per month) can charge at 49p/kWh. Both are flexible, cancellable monthly plans available exclusively through the Be.EV app.

Alternatively, all drivers — even without a subscription — can take advantage of the 39p/kWh rate during off-peak hours (7pm to 7am) using the Be.EV app or RFID card.

At 39p per kWh, charging an electric vehicle with Be.EV works out at roughly 12p per mile, almost half the current average cost of 23p per mile for rapid or ultra-rapid public charging. The comparison is based on a typical pay-as-you-go rate of 76p/kWh and an average EV efficiency of 3.3 miles per kWh.

Be.EV’s price cut means public ultra-rapid charging can now be cheaper than running a petrol or diesel car, a milestone the company hopes will accelerate mass EV adoption ahead of the UK’s 2035 zero-emission vehicle deadline.

Be.EV’s announcement comes as the cost of charging remains a flashpoint in the UK’s transition to electric mobility. While at-home charging typically costs between 15p and 30p per kWh, public ultra-rapid chargers have surged in price since 2022, leaving many city dwellers at a disadvantage.

The new Be.EV model directly targets that gap. By offering off-peak and subscription-based discounts, the network aims to make ultra-rapid charging both affordable and predictable, encouraging drivers to plan charging sessions during lower-demand hours.

Be.EV currently operates more than 850 charge points nationwide, with 1,000 additional sites in development across motorways, city centres and community hubs. The company says its goal is to build a “truly democratic” charging network that brings reliable, high-speed access to every corner of the UK.

“Public charging shouldn’t be a postcode lottery,” Ghafoor added. “With our expansion, drivers everywhere — from Manchester to Milton Keynes — will have the freedom to charge on their own terms, one charge at a time.”

Industry analysts say Be.EV’s move could pressure other charge-point operators to revise their tariffs, particularly as public concern grows over pricing disparities between home and on-the-road charging.

The initiative also reignites debate over VAT reform for public charging — an issue campaigners argue is holding back adoption among urban and lower-income drivers. Be.EV’s model, by cutting prices without government intervention, may strengthen calls for a level fiscal playing field.

According to the Society of Motor Manufacturers and Traders (SMMT), there are now over 1.3 million electric vehicles on UK roads, a figure expected to double by 2028. Ensuring affordable public charging is viewed as critical to sustaining that growth.

Be.EV’s 39p tariff places it among the most competitively priced operators in the UK and represents a bold challenge to incumbents. For drivers, it means immediate savings from the very first charge.

For policymakers, it highlights a growing divide between infrastructure providers willing to absorb margin pressure to drive adoption and those maintaining premium rates.

Either way, Be.EV’s strategy signals a pivotal moment in the evolution of Britain’s public-charging landscape — one where accessibility, fairness and affordability are fast becoming as important as speed and reliability.

Read more:
Be.EV halves cost of ultra-rapid charging with 39p/kWh tariff

Andy Haldane, the former chief economist at the Bank of England, has been appointed the next president of the British Chambers of Commerce (BCC), succeeding Baroness Martha Lane-Fox when her three-year term ends in February.

Haldane, one of Britain’s most influential economic thinkers, served on the Bank’s Monetary Policy Committee (MPC) for more than six years. Known for his unconventional and forward-looking analysis, he famously warned of the “tiger” of inflation in the aftermath of the pandemic — a caution that proved prescient when prices later surged and central banks scrambled to tighten policy.

Since leaving the Bank, Haldane has remained a key voice in economic policy. He was appointed to Chancellor Jeremy Hunt’s Economic Advisory Council in 2022, a group formed in the wake of the Liz Truss mini-budget to help rebuild confidence in Britain’s fiscal management. He also leads the Royal Society of Arts (RSA), where he has focused on regional inequality, productivity, and the future of work.

His new role at the BCC places him at the heart of the UK’s business community at a critical moment. Companies are grappling with slowing growth, geopolitical uncertainty, and the prospect of higher taxes ahead of the government’s November budget. Many sectors are also facing labour shortages, fragile consumer demand, and tighter financing conditions, as interest rates remain elevated.

Haldane said his appointment came at a pivotal time for British enterprise: “The Chambers have been celebrating and supporting the brilliance of British business for many decades,” he said. “Yet their role has never been more important than it is today.”

The BCC, which represents tens of thousands of firms through its nationwide network of local chambers, has increasingly positioned itself as a pragmatic voice for business in Westminster.

Haldane’s arrival is expected to strengthen the organisation’s economic credibility and deepen its engagement with policymakers — particularly on productivity, regional growth and industrial strategy.

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Ex-Bank economist Andy Haldane to lead British Chambers of Commerce

Thousands of UK businesses are being urged to come forward after a £2 billion collective legal action was launched against Microsoft, alleging that the tech giant overcharged customers who used its Windows Server software on rival cloud platforms such as Amazon Web Services (AWS), Google Cloud, and Alibaba Cloud.

The case, filed in the UK’s Competition Appeal Tribunal (CAT), has been brought by Dr Maria Luisa Stasi, a leading specialist in digital markets regulation. It seeks damages for businesses that, she says, have been forced to pay inflated prices due to Microsoft’s restrictive licensing practices.

“If your organisation has used Windows Server on Google, Amazon or Alibaba’s cloud platforms at any point since December 2018, you have likely paid too much money,” Dr Stasi said. “This legal action seeks to put that to an end.”

“Those responsible for IT or cloud contracting should get in touch. Billions have been drained from business budgets as a result of Microsoft’s licensing practices.”

Dr Stasi’s claim could become one of the largest antitrust lawsuits ever filed in the UK technology sector, potentially covering tens of thousands of organisations, from start-ups to multinationals.

The lawsuit closely follows the Competition and Markets Authority’s (CMA) final report on the UK’s cloud computing market, which concluded that Microsoft’s software licensing practices “adversely impact competition”.

The CMA found that Microsoft’s pricing model makes it more expensive for customers to run its software on rival clouds than on its own Azure service, effectively penalising businesses for using competitors’ infrastructure.

Those findings align directly with Dr Stasi’s case, which will return to court on 11 December 2025 for a hearing to decide whether it can proceed to full trial.

Legal experts say the case could set a precedent for collective actions against dominant technology firms accused of abusing market power in software and cloud services.

Cloud costs soar for UK businesses

The legal action comes amid mounting pressure on businesses struggling with escalating cloud costs.

Recent research shows that 67% of UK IT leaders expect their cloud expenses to rise further over the next year, with 68% of firms already cutting back in other IT areas to compensate.

Smaller organisations have been hit particularly hard. Many lack the resources to navigate complex licensing models or negotiate bespoke cloud contracts, leaving them vulnerable to hidden cost differentials.

“Cloud costs are soaring for UK businesses,” Dr Stasi said. “Getting in touch does not commit you to anything, but could result in your business clawing back a meaningful portion of its IT budget.”

The case against Microsoft is part of a wider wave of scrutiny directed at Big Tech’s control of the global cloud market.

Regulators across Europe, the US and Asia have intensified investigations into whether large technology firms are using software dominance to reinforce control over infrastructure markets.

In May 2025, the European Commission also signalled concern about “loyalty-inducing pricing” in cloud software licensing, echoing the CMA’s conclusions.

Microsoft has repeatedly defended its practices, saying its licensing models are “pro-competitive” and designed to “give customers choice and flexibility.”

If the CAT certifies Dr Stasi’s claim as a collective proceeding, affected organisations could automatically be included unless they opt out.

What happens next

A procedural hearing is scheduled for December 2025, after which the Tribunal will decide whether the case proceeds to trial. If successful, compensation could be distributed across all qualifying UK businesses that used Windows Server on rival clouds after December 2018.

Legal analysts say the potential £2 billion claim underscores the growing use of class-action-style competition litigation in the UK following Brexit, which allows domestic courts to take on global technology disputes previously handled in Brussels.

For now, businesses are being advised to register interest or provide usage data — a process that carries no obligation to join the claim but may determine eligibility for compensation later.

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£2bn UK lawsuit accuses Microsoft of overcharging cloud customers