Business

Piers Morgan’s production company has reported turnover of £17.1 million in 2024, as the broadcaster concluded his lucrative three-year deal with Rupert Murdoch’s News UK and began taking Piers Morgan Uncensored global.

Newly filed accounts for Wake Up Productions, incorporated in July 2021, show cumulative revenues of £50.3 million over the three-year period — matching reports of Morgan’s £50 million contract with Murdoch’s UK media group, which included TV, print and book projects.

Wake Up Productions recorded turnover of £17.5 million in 2022, £15.7 million in 2023, and £17.1 million in 2024, with profit before tax of £7 million, slightly down from £7.2 million the previous year. The company paid £5 million in dividends in 2024.

Morgan owns 94 per cent of the business, alongside company secretary Martin Cruddace (5 per cent) and Dolly Strategic Holdings Ltd (1 per cent).

The company’s revenue is divided between co-production services (£9.7m), licensing and distribution (£5.1m), and branding agreements and other income (£804,880).

The accounts describe Wake Up Productions as focusing on “publishing, television production and broadcasting, generating income primarily through digital channels such as YouTube, Facebook and sponsorships.”

Its flagship show, Piers Morgan Uncensored, launched on TalkTV in April 2022 before transitioning to a digital-only format on YouTube in February 2024 — months before TalkTV’s linear broadcast closure.

Since going fully digital, the show has more than 4.2 million YouTube subscribers, up from two million in late 2023, with clips regularly drawing millions of views globally.

Global ambitions after News UK partnership

Following the end of his News UK contract, Morgan has bought the rights to Piers Morgan Uncensored and is working with US-based Red Seat Ventures to expand the brand internationally.

The partnership will focus on growing sponsorship, advertising and digital revenues, while News UK retains commercial rights through an advertising partnership running until 2029.

Morgan’s previous agreement with News UK also included columns in The Sun and The New York Post, a documentary series, and a book deal. His new book, Woke Is Dead, will be published this month by HarperCollins, part of Murdoch’s News Corp.

Profitable model built on YouTube and sponsorship

Wake Up Productions reported £10.6 million cash reserves at the end of 2024, up from £10.2 million the previous year, with total staff costs of £7.2 million covering Morgan’s remuneration and that of one other employee.

The company’s business model centres on four pillars:
• Content monetisation via YouTube and digital platforms
• Brand partnerships and sponsorships
• Audience engagement through topical and personality-led programming
• Operational efficiency via outsourced finance and audit services

Wake Up said it plans to expand onto additional digital platforms, form strategic partnerships with media agencies, and invest in production quality and analytics to sustain growth.

Morgan’s pivot from traditional broadcasting to digital-first content mirrors a wider trend among media personalities building direct audiences online.

With Piers Morgan Uncensored continuing to perform strongly on YouTube and Facebook, the presenter appears to be positioning his brand as an independent global media business — combining journalistic personality with commercial agility in a fast-evolving content landscape.

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Piers Morgan’s production company hits £17.1m turnover as TalkTV deal ends

If you’ve ever sat in an interview and heard a hiring manager say, “We’re like one big family here,” you might have felt reassured. After all, what could be wrong with a close-knit, supportive workplace?

However according to career experts, this phrase often carries a more troubling subtext — one that could point to overwork, blurred boundaries, and even a toxic culture.

Peter Duris, CEO and Co-founder of Kickresume, an AI-based career hub, says jobseekers should pay close attention to subtle language during interviews, as it can reveal much about a company’s culture and expectations.

“One of the most recognised signs of a toxic workplace is when the hiring manager says something along the lines of the team being like a family,” says Duris. “This might imply that you’ll be expected to constantly go above and beyond and sacrifice your personal time.”

Duris adds that while some genuinely nurturing workplaces do use the “family” metaphor to describe a supportive culture, jobseekers should be cautious if it’s paired with other warning signs — such as vague answers, long hours, or visible stress among employees.

What ‘we’re like a family’ can really mean

Possible Green Flags Possible Red Flags:
A supportive, inclusive culture Pressure to work overtime or “go the extra mile” without reward.
Strong sense of belonging and team spirit Emotional manipulation disguised as loyalty.
Genuine friendships between colleagues Favouritism, cliques, or blurred boundaries.
Managers who offer personal support Pressure to put work above your personal life.

More warning signs to watch for

Duris points out that there are many other interview red flags that can indicate poor management or a weak company culture.
• Rude or dismissive behaviour: If the interviewer turns up late, interrupts you, or seems distracted, it’s often a preview of how employees are treated internally.
• Vague job descriptions: If the interviewer dodges questions about duties or expectations, it could signal disorganisation or unrealistic workloads.
• Hidden pay information: “If a company won’t share the salary details, especially late in the process, it’s a red flag that grows with time,” Duris says. “Transparency about pay should be standard.”
• Stressed or disengaged interviewers: Pay attention to body language. “If the person interviewing you looks exhausted or unenthusiastic, that’s a clear reflection of company morale,” Duris adds.

Another overlooked indicator is staff turnover. Sites like Glassdoor can offer valuable clues. “If you notice consistent reports of high turnover, it’s worth asking why people don’t tend to stay,” he advises.

Not every mismatch means the company is toxic — sometimes it’s just the wrong fit. “For example, if you thrive on independence and flexibility, a highly collaborative or structured environment might not suit you,” Duris explains. “These aren’t red flags, just signs that your working styles may not align.”

Duris also offers advice for candidates hoping to make a strong impression themselves. “Badmouthing a former employer is always risky,” he says. “Even if you had a difficult experience, it’s better to frame it professionally — for example, ‘My last manager had a different leadership style than I’m used to.’”

He adds that interviews are a two-way process: “You’re not just being assessed; you’re assessing them. The best thing you can do is stay observant, ask thoughtful questions, and trust your instincts. A truly healthy company culture won’t need to tell you it’s ‘like a family’ — it’ll show you.”

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‘We’re like a family here’: why this interview cliché could signal a toxic workplace

The UK is on course for a quarter of a million shortfall in skilled tradespeople by 2030, as the current apprenticeship system fails to attract new entrants into key trades such as plumbing, carpentry, and electrical work, according to Screwfix.

Chief executive John Mewett warned that the apprenticeship levy “doesn’t work for small businesses,” leaving sole traders — who make up much of the country’s skilled workforce — unable to take on trainees.

Only 2% of sole traders hired an apprentice in the past year, according to a new report by the retailer. With one in four tradespeople due to retire in the next five years, the findings point to a looming skills crisis that could impact housing, infrastructure, and the wider economy.

“A lot of the tradespeople who can train apprentices are sole traders,” said Mewett. “The burden of taking on an apprentice is significant, with the paperwork, responsibility, and lack of funding that comes with it. The system just isn’t working for small businesses.”

Screwfix has helped fund 50 apprenticeships since 2022 by partnering with a flexi-job apprenticeship agency, which matches trainees with sole traders while handling administration and paperwork.

The initiative is financed through the company’s apprenticeship levy — a 0.5% annual tax on payrolls over £3 million — but Mewett said the funding pool is limited.

He called on ministers to unlock billions of pounds in unused levy funds to expand schemes that support small employers.

“The government has billions of unspent levy funds that could be redeployed to help take some of the burden away from tradespeople who do want to train,” he said.

Under the current “use it or lose it” rules, employers have two years to spend levy funds before they are reclaimed by the Treasury. A Freedom of Information request in 2022 revealed that more than £3.3 billion of unused levy money had been returned since May 2019.

Few incentives for taking on apprentices

Despite the barriers, those who do train apprentices report positive experiences. The Screwfix survey found that 64% of tradespeople who took on an apprentice said they would do so again — even though half received no government funding to support training costs.

The research, based on responses from 701 Screwfix trade customers surveyed in June, highlights deep frustration across the sector.

Mewett said that while government policy had moved in the right direction — with Labour replacing its university participation target with a broader goal encompassing further education and apprenticeships — significant gaps remain.

“If you go to university, there’s a clear path with student loans and support,” he said. “If you go into an apprenticeship, it’s much more challenging. There are no loans for tools or financial help to get started. The government needs to make that path more structured — just like it is for higher education.”

Screwfix’s warning adds to a chorus of industry concern that the UK faces a widening construction and trade skills gap.

Recent figures from the Construction Industry Training Board suggest the sector will need to recruit an additional 250,000 workers by 2028 to meet housing and infrastructure targets — with similar shortages emerging across electrical, heating, and maintenance services.

Experts warn that without reform of the apprenticeship levy and stronger incentives for small firms, the UK risks falling further behind its building and retrofit ambitions — especially as demand for energy-efficient home upgrades accelerates under the government’s net-zero plans.

With more than a million tradespeople nearing retirement and a sluggish pipeline of new apprentices, the UK faces one of its most acute labour shortfalls in decades.

Screwfix’s Mewett said the solution lies in simplifying the system, cutting red tape, and ensuring that levy funds actually reach small employers willing to train the next generation.

“We’re seeing real demand from young people to enter trades,” he said. “The challenge isn’t appetite — it’s access. Fix that, and we can close the skills gap.”

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UK faces shortfall of 250,000 tradespeople by 2030, warns Screwfix chief

The Department for Education (DfE) has spent more than £170,000 over the past three years to upskill staff in data, artificial intelligence (AI), and digital technologies, as part of the UK government’s broader push to build a digitally confident civil service.

The figures, obtained under a Freedom of Information (FOI) request and analysed by the Parliament Street think tank, show a sharp rise in DfE’s investment in advanced digital training — from basic data analysis and visualisation courses to specialist AI, cybersecurity, and cloud skills.

The move comes as 70% of government departments are either piloting or planning to implement AI tools, underscoring the growing importance of structured, secure, and high-quality data in public sector operations.

In the 2022/23 financial year, more than 1,450 DfE staff completed training in areas including statistics, business analysis, digital design, and data visualisation, with an investment of £44,500.

By 2024/25, over 350 staff had progressed to more advanced training covering AI, data science, cybersecurity, and the Microsoft Power Platform — signalling a strategic shift towards specialist, future-focused digital capabilities.

This progression, experts say, reflects the DfE’s growing recognition that data and AI skills are no longer optional — they are essential to policy development, service delivery, and governance.

Stuart Harvey, CEO of Datactics, said the government’s investment represents “a critical move” as high-quality, well-governed data becomes the backbone of effective policymaking and citizen services.

“The ability to manage, cleanse and interpret data accurately is no longer a back-office function — it’s central to operational efficiency and public trust,” Harvey said.

“Training in AI and data science enables staff to automate manual processes, detect patterns, and generate actionable insights at speed and scale.”

He added that forward-looking programmes in AI, cloud platforms, and advanced analytics would allow the public sector to deliver “smarter, safer and more responsive services” built on robust data management.

Sheila Flavell CBE, Chief Operating Officer at FDM Group, welcomed the DfE’s investment but said ongoing upskilling must remain a top priority if government services are to remain secure, resilient and trusted.

Sawan Joshi, Group Director of Information Security at FDM Group, Flavell said: “These figures highlight a growing recognition across government of the importance of advanced digital skills. The shift towards specialist training in cybersecurity, AI, and cloud engineering is a positive step, but continual upskilling must remain a priority.”

FDM’s own research shows 54% of organisations now expect AI literacy in all graduate roles, yet only 6% believe their teams are currently equipped to apply AI effectively.

“The future of AI success lies in human oversight,” Joshi added. “AI doesn’t replace people — it amplifies those equipped to use it wisely. Government and industry must work hand in hand to build a truly digitally confident workforce.”

AI adoption accelerating across Whitehall

The DfE’s expanded training push aligns with a wider cross-government effort to embed AI and data analytics in public services. Departments are using machine learning and predictive analytics to improve policy outcomes, reduce fraud, and streamline administration, while investing in ethical frameworks and human oversight to mitigate risk.

The Cabinet Office has also launched new data literacy standards and AI adoption guidance, while the Central Digital and Data Office (CDDO) continues to lead cross-departmental efforts to modernise digital infrastructure and recruitment.

As AI systems become more pervasive across Whitehall, experts warn that data quality and governance will determine whether the UK’s digital transformation succeeds.

For departments like the DfE, the goal is no longer simply to digitise — but to build institutional intelligence, where data-driven decisions enhance both efficiency and accountability.

“High-quality data is the fuel of government innovation,” Harvey said. “Without the right skills, even the best AI tools can fail. But with the right foundations, the public sector can set the global standard for responsible, human-centred use of technology.”

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Department for Education ramps up AI and data training as part of UK government digital skills drive

Frasers Group has warned Unite the Union against taking “reckless and irresponsible” industrial action after the trade body threatened strikes across the retailer’s warehouses in a dispute over pay.

In a strongly worded letter to Unite general secretary Sharon Graham, Sir Jonathan Thompson, chairman of Frasers Group, said he was “extremely saddened” by what he described as the union’s “inflammatory and confrontational” tactics.

“I therefore hope that you will wish to avoid rash action that will risk causing unnecessary disharmony whilst we are working to protect the interests of our people,” he wrote in the letter, seen by The Telegraph.

The warning comes as Unite pushes Frasers — the retail empire founded by Mike Ashley — to commit to paying the “real living wage” as set by the Living Wage Foundation.

Unite has called on Frasers to raise warehouse pay to £12.60 an hour across the UK and £13.85 in London, up from the current £12.21 national minimum wage.

The union has threatened to move towards strike action if the group refuses to meet those demands.

Frasers said it granted a 7% pay rise in April, lifting wages above the legal minimum, and claimed Unite had failed to submit formal proposals during previous bargaining windows — other than a request last September.

“You’ll appreciate that we are left questioning the union’s real motivations in threatening industrial action,” Sir Jonathan added.

In his letter, Sir Jonathan said the timing of Unite’s campaign was particularly damaging, pointing to new economic pressures facing the retail sector.

He cited the Chancellor’s recent National Insurance increase, describing it as “a tax on jobs”, as well as high business rates and unfair competition from international online platforms that enjoy more favourable tax regimes.

“Frasers is prioritising growth, which is the best way to create sustainable employment,” he said. “The union’s current approach risks undermining that progress.”

Labour reforms reignite strike fears

The dispute comes amid mounting concern from business leaders that the Labour government’s new employment rights bill could embolden unions and lead to more strikes.

Under the proposed legislation, unions would no longer need a 50% turnout threshold in strike ballots — a move employers warn could “significantly deteriorate industrial relations”.

In a joint letter to Business Secretary Peter Kyle last month, several business groups cautioned that the reforms could make it easier for unions to call strikes, threatening workplace stability at a time when inflation and operating costs remain high.

The Government has defended the measures, saying they will “usher in a new era of partnership” between unions, employers, and ministers, benefiting more than 15 million workers.

The pay dispute adds to the challenges facing Frasers Group, which owns Sports Direct, House of Fraser, and Flannels, as it navigates rising wage costs and a slowing retail market.

Chief executive Michael Murray, Ashley’s son-in-law, is pushing a strategy of premiumisation and consolidation across the group, while seeking to streamline its logistics network.

Frasers has previously been criticised by unions for its warehouse working conditions, though the company has since invested in automation and facilities upgrades.

Unite has not yet responded publicly to Sir Jonathan’s letter.

The row underscores a broader tension between private equity-backed employers and increasingly assertive unions amid a shifting political climate.

With Labour’s reforms set to strengthen collective bargaining rights, analysts expect industrial relations in the logistics and retail sectors to heat up in the months ahead.

For Frasers, the immediate focus will be maintaining warehouse productivity and avoiding disruption during the crucial pre-Christmas trading season — while keeping its high-profile founder’s cost-conscious ethos intact.

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Frasers Group warns Unite against ‘reckless’ strike threats over warehouse pay

Saudi Arabia has taken a decisive step toward becoming the world’s gaming hub after its $55 billion (£41 billion) acquisition of US game publisher Electronic Arts (EA) — the largest leveraged buyout in corporate history.

The deal, orchestrated through the Public Investment Fund (PIF), the kingdom’s $700 billion sovereign wealth fund, gives Crown Prince Mohammed bin Salman control over one of the industry’s biggest names — and access to hit franchises including EA Sports FC, Battlefield, and The Sims.

It marks the most audacious move yet in Riyadh’s drive to diversify the economy and project global cultural influence through gaming, sport, and entertainment.

“It is the missing piece of the puzzle for their games and reputation washing strategy,” said George Osborn, editor of the Video Games Industry Memo. “It is everything Saudi Arabia wants in one place.”

The deal was sealed just weeks after Team Falcons, a Saudi esports team backed by PIF, triumphed at the Esports World Cup in Riyadh, an event that drew three million spectators and international attention.

The Crown Prince, who presented the winners’ trophy himself, is reported to be a “massive gamer” and long-time fan of titles such as FIFA — now rebranded EA Sports FC.

With the EA acquisition, Saudi Arabia’s influence stretches across the gaming ecosystem, from esports tournaments and streaming platforms to blockbuster console titles.

The kingdom plans to invest $38 billion in gaming and esports by 2030, as part of its Vision 2030 economic diversification programme.

Through PIF-owned Savvy Games Group, Saudi Arabia has already amassed stakes in Nintendo, Capcom, and Take-Two Interactive, the publisher of Grand Theft Auto.

It also holds a 6% stake in Take-Two, despite previously banning GTA and other games with sexual or violent content.

Analysts say the latest deal positions Saudi Arabia as a central player in the $184 billion global gaming market, which now surpasses both film and music in combined value.

“The value EA offers Saudi Arabia cannot simply be measured by financial performance,” said Piers Harding-Rolls, analyst at Ampere Analysis. “It fits into the PIF’s strategy of accumulating soft power through entertainment and sports.”

The acquisition also serves geopolitical and diplomatic goals, tightening ties between Riyadh and Washington. The buyout consortium includes US private equity group Silver Lake and Affinity Partners, a firm founded by Jared Kushner, son-in-law of former US president Donald Trump.

Kushner’s firm will own around 5% of EA, while the PIF will remain the majority shareholder. Saudi Arabia is also a significant investor in Kushner’s fund, deepening a relationship that analysts say will help ease national security scrutiny in the US.

“It’s a power play,” said Osborn. “This kind of deal would not have been possible without the Trump administration and Jared Kushner’s influence.”

Since becoming Crown Prince in 2017, Mohammed bin Salman has sought to wean Saudi Arabia off oil and build influence through sports, culture and technology.

The PIF’s acquisitions now span football, golf, Formula 1, wrestling and esports, part of what observers describe as a “soft power accumulation strategy” designed to attract global audiences and reshape perceptions of the kingdom.

“Video games and esports represent the Saudi embrace of classic soft power — the pursuit of eyeballs and influence,” Osborn added.

Critics, however, accuse Riyadh of using these investments for “sportswashing”, to divert attention from human rights abuses and censorship. Saudi Arabia ranks 162 out of 180 on the Reporters Without Borders Press Freedom Index, and Human Rights Watch has accused the government of using high-profile cultural investments to “whitewash its abysmal human rights record.”

The $55bn EA takeover — financed with around $20bn of debt — will make the Saudi state a dominant shareholder in one of gaming’s most profitable publishers. Analysts warn, however, that the heavy leverage could prompt job cuts or asset sales.

EA has already laid off hundreds of staff, including at its UK-based Codemasters division, and is expected to rely more heavily on AI-assisted game development to cut costs.

EA chief executive Andrew Wilson insisted that “our values and commitment to players and fans around the world remain unchanged” following the takeover.

Still, some industry insiders worry the new ownership could influence creative decision-making — especially given Saudi Arabia’s strict censorship policies on games featuring violence or same-sex relationships.

Saudi Arabia’s growing presence in gaming has drawn pushback from some players and developers.

Professional esports gamer Twistzz said he rejected a lucrative offer to join the Saudi-owned Team Falcons, citing “morals” over money. Meanwhile, popular developer GeoGuessr withdrew from the Esports World Cup following protests from its community.

“If I wanted the bag and didn’t care about my career, I’d go to Falcons,” Twistzz said. “But I have morals — it’s not about the money.”

Despite the backlash, Riyadh’s gaming ambitions show no sign of slowing. The EA acquisition positions Saudi Arabia as a dominant player in one of the fastest-growing global industries — one with enormous cultural reach and political leverage.

With massive investment, strategic partnerships and a long-term vision, Crown Prince Mohammed bin Salman has turned gaming into the kingdom’s next frontier for influence — one that blends economics, diplomacy, and entertainment on a global scale.

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Saudi Arabia’s $55bn EA takeover cements its global gaming ambitions

Morrisons is introducing a new tracking system to monitor how quickly its shop floor staff stack shelves, as the supermarket embarks on a major operational overhaul to improve efficiency and win back shoppers.

The new performance monitoring app, which is being rolled out across hundreds of stores, allows managers to see real-time data on staff productivity — including how fast employees unload and restock items.

The tool highlights workers performing below the pace of their peers, a system that some employees have dubbed “stopwatching”. Managers will be able to target underperforming staff for coaching, retraining or further supervision.

Morrisons says tracking aims to ‘support and coach’ colleagues

The supermarket, owned by US private equity group Clayton, Dubilier & Rice (CD&R), said the initiative was designed to “identify opportunities to coach colleagues and understand where additional support or training may be required.”

A spokesperson said: “This will allow us to be fair and consistent in recognising colleagues. The new system will help teams understand their own performance.”

Morrisons confirmed it has long collected productivity data to ensure staffing levels are appropriate, but previously this information was shared only periodically with managers. The new app gives immediate visibility, enabling store leaders to respond faster to inefficiencies.

Morrisons chief executive Rami Baitiéh

The changes are part of a broader push by chief executive Rami Baitiéh, who took over in 2023, to raise in-store standards and customer service after years of underperformance against rivals.

Earlier this year, Morrisons told “idling” staff they would lose access to stockrooms, limiting backroom entry to approved workers as part of a customer-facing initiative aimed at keeping more staff on the shop floor.

The company said the move ensures “the right colleagues are in the right place to deliver the best service to customers at all times.”

Morrisons’ efforts come after a difficult financial year. Sales fell by more than £1 billion to £17 billion, its lowest level since CD&R’s 2021 takeover. The decline has raised fears that the retailer could soon fall behind Lidl in market share, having already been overtaken by Aldi in 2022.

According to Kantar data, Lidl now holds 8.2% of the UK grocery market, compared with 8.4% for Morrisons, a gap analysts expect to close before the end of the year.

Adding to the pressure, the company suffered a reputational setback in August, when dozens of stores failed food hygiene inspections, with some scoring as low as zero. Morrisons said it was taking “immediate action to address and resolve all the issues raised.”

Morrisons continues to trail major rivals including Tesco, Sainsbury’s, Aldi, M&S, and Ocado, according to the latest UK Customer Satisfaction Index.

Analysts say the new monitoring technology is part of Baitiéh’s strategy to drive accountability and improve in-store execution, though it risks stirring employee unease over surveillance and workload expectations.

One retail analyst noted: “This is a classic private-equity-style efficiency drive — Morrisons is trying to squeeze more performance from existing resources as it fights to stay in the top four.”

The coming months will be critical for Morrisons as it seeks to regain momentum in a highly competitive grocery market dominated by price wars, supply chain inflation and discount disruption.

With customer trust fragile and margins tight, the supermarket’s shift toward data-led management and stricter performance tracking could determine whether Baitiéh’s turnaround plan succeeds — or alienates the very workforce he depends on to deliver it.

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Morrisons to track shop floor staff with new app in drive to boost performance

Electric vehicle (EV) sales in the UK hit a record high in September, boosted by new government subsidies that helped lure more buyers back into the market during the industry’s most crucial month of the year.

According to preliminary data from the Society of Motor Manufacturers and Traders (SMMT), sales of battery-powered cars rose by nearly a third compared with a year earlier, reaching 72,800 units.

September’s strong performance follows the government’s reintroduction of an electric car grant in July, after pressure from manufacturers struggling to meet zero emission vehicle (ZEV) mandate targets.

Plug-in hybrids and electrified vehicles lead the charge

The renewed incentive also fuelled a sharp increase in plug-in hybrid sales, which surged 56% to 38,300, as carmakers pivoted toward models combining electric and petrol power to boost profitability amid fierce global competition — particularly from new Chinese entrants.

Overall, pure electric and hybrid vehicles accounted for more than half of all UK car sales in September, helping total registrations climb 14% year-on-year to 312,900 — the strongest September since 2020.

“Our discounts have sparked a surge in electric car sales, making them cheaper and within reach of more households than ever before,” said Transport Secretary Heidi Alexander.

The revived electric car grant, offering up to £3,750 per vehicle, applies to roughly one-quarter of battery models on sale in the UK. Eligible vehicles include those from Citroën, Renault, Nissan and Vauxhall, capped at £37,000 and subject to emissions-related production criteria that exclude many Chinese-made brands.

Analysts say the subsidy has proved particularly effective for mainstream models, helping to offset higher borrowing costs and the squeeze on household budgets.

However, David Farrar, policy manager at New AutoMotive, warned that the £1.5 billion scheme — designed to support the first 400,000 buyers — could end sooner than planned.

“Early evidence suggests the grant might close earlier than intended, given the pace of take-up,” he said.

Mike Hawes, chief executive of the SMMT, said September’s figures showed that “electrified vehicles are powering market growth after a sluggish summer”, but cautioned that demand still lags behind government targets.

Under the ZEV mandate, carmakers must ensure 28% of their new car sales are fully electric in 2025, though “flexibility” clauses mean the effective target is closer to 22%, according to New AutoMotive’s analysis.

Those flexibilities, expanded in April, allow manufacturers to earn credits for cutting emissions in petrol and diesel models — a move the Climate Change Committee has warned could undermine the UK’s net zero goals.

With battery EVs currently representing 22.1% of total sales for 2025 to date, automakers are accelerating end-of-year promotions to hit compliance thresholds and avoid fines.

While September’s spike has eased pressure, industry leaders say stable policy support will be essential to maintain momentum as cost-of-living pressures and patchy charging infrastructure continue to deter potential buyers.

“Massive industry investment is paying off, despite demand still trailing ambition,” Hawes said.

The reintroduction of subsidies has clearly reignited consumer interest in electric vehicles, yet the market’s underlying affordability and infrastructure issues remain unresolved.

Analysts warn that once the grants are exhausted, sales could slow again unless the government provides a clear long-term strategy on incentives, charging networks and fleet decarbonisation.

For now, September’s surge offers a welcome reprieve — signalling that, with the right support, Britain’s shift to electric motoring may be back on track.

Read more:
UK electric car sales surge to record high as government subsidies spark demand

Business activity across the UK slowed sharply in September as mounting anxiety over the government’s delayed autumn budget led companies and households to postpone investment and spending decisions.

The S&P Global composite purchasing managers’ index (PMI) — a closely watched measure of private-sector health — fell to 50.1 from 53.5 in August, marking its weakest reading since early spring.

While still marginally above the 50-point threshold separating growth from contraction, the latest data underline how political and fiscal uncertainty has dampened confidence across the economy.

The services sector PMI, which dominates UK output, dropped from 54.2 in August to 50.8 in September — a sharp loss of momentum from its 16-month high. The manufacturing index slipped further into contraction, at 46.2, down from 47.0 the previous month.

“September’s acceleration in output growth now looks like a flash in the pan,” said Tim Moore, economics director at S&P Global. “Many survey respondents suggested that corporate clients had deferred spending decisions until after the autumn budget, while households were also hesitant about major purchases.”

Chancellor Rachel Reeves is due to deliver her second annual budget on 26 November, amid growing expectations that she will announce tens of billions in tax increases to rebuild fiscal headroom.

Economists said speculation over the scale and scope of the tax measures had already chilled confidence.

“The economy is doing little more than muddling through in the second half of the year,” said Thomas Pugh, economist at RSM UK. “The risk is that intense speculation about potential tax rises weighs heavily on consumer confidence and business sentiment, leading to another bout of stagnation.”

Rob Wood, chief UK economist at Pantheon Macroeconomics, said: “The PMI’s sharp drop in September shows the chilling impact on business sentiment that speculation about tax hikes in the November budget can have.”

Weak pipeline of new work points to soft finish to the year

Matt Swannell, chief economic adviser at the EY Item Club, said the survey data showed “activity growth ground to a halt in September” and warned that “the pipeline of incoming work looks soft, with weak demand and continued uncertainty seeing some spending decisions being postponed.”

However, Swannell cautioned that PMI surveys often “reflect sentiment rather than real output changes”, meaning the downturn may look worse on paper than in reality.

Martin Beck, chief economist at WPI Economics, agreed that media coverage of “surging government borrowing costs, looming tax rises and even talk of an IMF bailout” had likely fuelled pessimism. “The surveys have a track record of painting an unduly gloomy picture when uncertainty is high,” he said.

Easing inflation could open door for rate cuts

Despite the slowdown, analysts said there was one silver lining: inflation in the services sector fell to its lowest level since June, easing pressure on the Bank of England to maintain high interest rates.

Wood said the softer price data could “encourage some members of the Monetary Policy Committee to consider lowering borrowing costs sooner than previously expected.”

Economists warn that unless the budget provides clear signals on fiscal stability and business investment incentives, the UK risks slipping back into stagnation in the final quarter of the year.

With firms and consumers sitting on their hands, and sentiment bruised by policy uncertainty, the next two months could prove pivotal for the new government’s credibility on growth.

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Budget jitters slow UK business growth as firms delay spending

Jaguar Land Rover (JLR) is preparing to inject up to £500 million into its supply chain to prevent a wave of insolvencies among parts makers after a cyberattack brought production to a standstill and left thousands of UK suppliers struggling for cash.

The initiative, expected to be finalised within days, will see JLR lend directly to its first-tier suppliers through an invoice financing facility, providing immediate cashflow relief as the carmaker begins to restart operations.

The plan comes as a taxpayer-backed £1.5 billion rescue guarantee announced by ministers last weekend remains unsigned, despite being billed as a lifeline for the UK’s biggest car manufacturer. Sources close to the talks said the state-supported financing deal has yet to be approved, leaving suppliers uncertain when or if funds will flow.

JLR, which employs 34,000 people and supports around 120,000 more across its UK supply chain, has been battling to restore production following a hacking incident in early September that crippled its IT systems and halted manufacturing globally.

The government’s proposed £1.5bn facility was announced by Business Secretary Peter Kyle and Chancellor Rachel Reeves to help JLR secure short-term liquidity from commercial lenders. Reeves described it as a measure to “protect thousands of jobs,” while Kyle said it showed Labour “standing by British manufacturing.”

However, multiple sources confirmed the deal had not yet been signed, and business leaders in the Midlands have warned of a mounting crisis among suppliers.

In a letter sent to industry minister Chris McDonald over the weekend, the heads of the Greater Birmingham, Coventry & Warwickshire, and Black Country Chambers of Commerce said many firms were “running out of cash and have no guarantee of future sales.”

They urged ministers to avoid a repeat of the Carillion (2018) and MG Rover (2005) collapses, which devastated the Midlands supply base. “If the situation worsens and the loan guarantee doesn’t flow to suppliers, further measures may be necessary,” the letter warned.

How JLR’s private rescue plan will work

Under the proposed JLR facility, suppliers will be able to submit invoices for immediate payment, rather than waiting weeks for standard remittance. The scheme will initially apply to tier-one suppliers that transact directly with JLR, with the expectation that they pass on liquidity to smaller tier-two and tier-three firms further down the chain.

The initiative, which sources described as “radical but necessary,” aims to restore stability across JLR’s supply network and prevent bottlenecks as production resumes. A phased restart of manufacturing is due to begin Monday, although insiders said the carmaker is unlikely to be fully operational again until Christmas.

It remains unclear whether the £500m facility will be restricted to UK suppliers or also extended to JLR’s overseas partners, which account for around half of its parts sourcing.

The new financing programme could provide “a game-changer moment for suppliers,” one source familiar with the talks said. “This is the difference between life and death for some firms in the supply chain. Many have been operating hand-to-mouth since the cyberattack.”

While the details are still being finalised, industry insiders said the initiative could be launched as early as next week, depending on the pace of approvals and supplier readiness.

Separate £2bn bank deal boosts JLR cash reserves

In a further move to strengthen its finances, JLR has secured a £2 billion funding facility from Standard Chartered, Citigroup, and Mitsubishi UFJ Financial Group. The deal provides the company with additional liquidity to support recovery and rebuild cash buffers.

Although JLR declined to comment, analysts said the decision to self-finance supplier support underlines the carmaker’s determination to stabilise its network as the government’s rescue stalls.

The crisis underscores the fragility of the UK automotive supply chain, heavily reliant on just-in-time manufacturing and tight margins. Industry leaders have warned that even a few weeks of disruption can cause irreversible damage to smaller firms.

If JLR’s self-funded rescue goes ahead, it would represent one of the largest privately financed supply-chain bailouts in UK industry — and a crucial test of Britain’s industrial policy under Labour.

With production still constrained and state guarantees delayed, JLR’s intervention may prove pivotal in keeping the wheels of British manufacturing turning.

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JLR steps in with £500m supplier lifeline amid stalled state support