Business

Almost half of UK SMEs are optimistic about the year ahead, but cost pressures remain the biggest obstacle to growth, according to new research from Simply Asset Finance released ahead of the Autumn Budget.

The study shows SME confidence is climbing: 49% of decision makers feel positive about the next 12 months, up from 43% a year ago. Notably, 19% say they are “really excited” about their growth prospects — more than double the 8% recorded in 2024.

However, despite growing optimism, the challenges facing SMEs remain largely unchanged from last year’s Budget. Businesses continue to grapple with high energy prices, inflationary pressures and rising taxes, prompting renewed calls for government action to boost productivity.

High energy costs remain the single biggest issue for SMEs, with 40% calling on the Chancellor for targeted support — rising sharply to 54% among medium-sized firms. The UK remains one of the most expensive advanced economies for business energy costs, leaving companies warning that they are operating at a structural disadvantage.

A further 34% of SMEs want enhanced tax incentives to stimulate investment and innovation, while calls for corporation tax cuts have almost doubled year-on-year to 36%, up from 19% in 2024.

Government-backed loans also continue to feature prominently on SME wish lists, with 26% of firms looking for better access to affordable finance as they plan expansion.

Confidence that the Government will deliver a pro-business Autumn Budget remains low, sitting at 36%. Many firms say they face the same barriers that held them back last year, with 46% citing a stagnant economy, 39% pointing to persistent high inflation and 30% highlighting high interest rates.

With 68% of SMEs saying the Autumn Budget will have a “significant” or “fundamental” impact on their growth plans, pressure is building ahead of the 26 November announcement.

Mike Randall, CEO of Simply Asset Finance, said: “It’s incredibly encouraging that SMEs are showing a clear appetite to invest and grow. But there is continued frustration at the lack of support with ever-rising costs and the same barriers blocking their path forward.

“Energy costs remain the biggest drag on growth — and businesses are clear they need support to allow more room to invest. With the UK facing some of the most expensive energy costs in the world, firms are operating at a disadvantage and something needs to give.

“With the Budget weeks away, the Government has a critical window. The right decisions could unlock growth and fuel productivity across the UK; the wrong ones risk stalling momentum at a defining moment.”

Read more:
SME confidence improves, but rising energy and tax costs continue to hinder growth ahead of the Autumn Budget

The Government has confirmed that Police and Crime Commissioners (PCCs) will be scrapped, with ministers claiming the move will save at least £100 million that can instead be channelled into frontline policing, artificial intelligence and cybercrime capability.

The announcement forms part of a wide-reaching overhaul of policing in England and Wales aimed at raising national standards, improving performance monitoring and ending what ministers have described as a “postcode lottery” in crime outcomes.

The reforms, which will be outlined in full in the forthcoming Police Reform White Paper, include the creation of a new National Centre of Policing. The centre will consolidate critical support functions — including IT services and forensic capabilities — to improve efficiency and ensure better value for taxpayers. Ministers are also introducing a new police performance unit to drive up standards across forces.

A major pillar of the reform is a significant investment in AI-driven policing tools and enhanced cyber skills, reflecting the changing nature of crime and the rising complexity of online threats.

The government argues that abolishing PCCs will remove layers of unnecessary bureaucracy while freeing up millions for neighbourhood policing. Since their introduction in 2012, PCCs have struggled to gain public recognition; fewer than half of Britons are aware they exist, and turnout in PCC elections has consistently been low.

Graeme Stewart, head of public sector at Check Point Software, said the decision reflects a “fundamental shift” in policing: “This is a bold move by a government fully aware that the nature of policing has changed since these roles were created twelve years ago. AI, cyber attacks and online safety challenges mean accountability rarely sits with one individual. Redirecting these savings towards frontline policing and digital capability is essential for tackling tomorrow’s threats.”

Under the new model, the responsibilities of PCCs will be absorbed by regional mayors where possible, placing crime reduction and policing strategy within the wider context of public services such as education and community safety. The transition will take place at the end of the next electoral cycle in 2028.

Home Secretary Shabana Mahmood said PCCs had proved ineffective: “The introduction of police and crime commissioners was a failed experiment. I will introduce reforms to ensure police are accountable to local mayoralties or councils. The savings will fund more neighbourhood police on the beat, fighting crime and protecting our communities.”

The reforms sit alongside the Government’s Neighbourhood Policing Guarantee, which pledges named and contactable officers for every community, guaranteed police patrols in busy areas at peak times and 3,000 additional neighbourhood officers by spring next year.

Read more:
Government abolishes Police and Crime Commissioners as £100m is diverted to AI and cyber policing

Chart patterns are essential tools in technical analysis that help traders identify potential market movements and make informed trading decisions.

These patterns form on price charts as a result of market psychology and the collective behavior of traders. By recognizing these formations, traders can anticipate potential breakouts, reversals, and continuations in price action. Understanding chart patterns is crucial for anyone serious about technical trading, whether in stocks, forex, commodities, or cryptocurrencies.

Understanding the Foundation of Chart Patterns

Before diving into specific patterns, it’s important to understand that chart patterns represent the visual manifestation of supply and demand dynamics. When buyers and sellers interact in the market, their collective actions create recognizable shapes on price charts. These patterns typically fall into two main categories: continuation patterns, which suggest the existing trend will continue, and reversal patterns, which indicate a potential change in trend direction.

Reversal Patterns

Head and Shoulders

The Head and Shoulders pattern is one of the most reliable reversal formations in technical analysis. This pattern appears at the end of an uptrend and signals a potential bearish reversal. It consists of three peaks: a left shoulder, a higher middle peak (the head), and a right shoulder that’s roughly equal in height to the left shoulder. The neckline connects the lows between these peaks. When price breaks below the neckline, it confirms the pattern and suggests a downward move approximately equal to the distance from the head to the neckline.

The inverse Head and Shoulders pattern works in the opposite direction, forming at the bottom of a downtrend and signaling a potential bullish reversal. Traders often wait for volume confirmation, as the breakout should ideally occur on increasing volume to validate the pattern’s strength.

Double Top and Double Bottom

Double Tops form after an extended uptrend and represent a bearish reversal pattern. The pattern consists of two peaks at approximately the same price level, separated by a moderate trough. The support level at the trough becomes critical – when price breaks below this level, the pattern confirms, and traders expect a decline roughly equal to the distance between the peaks and the support level.

Conversely, Double Bottoms appear after downtrends and signal bullish reversals. Two troughs form at similar price levels with a peak in between. When price breaks above the resistance level formed by the middle peak, the pattern confirms, suggesting an upward move.

Candlestick Reversal Patterns

Among candlestick formations, the engulfing candle pattern stands out as a powerful reversal signal. A bullish engulfing pattern occurs when a large bullish candle completely engulfs the previous bearish candle’s body, indicating strong buying pressure and potential upward movement. The bearish version works oppositely, with a large bearish candle engulfing the previous bullish candle.

The morning star pattern is a three-candle formation that signals a potential bullish reversal at the bottom of a downtrend. It consists of a long bearish candle, followed by a small-bodied candle (which can be bullish or bearish) that gaps down, and finally a long bullish candle that closes well into the first candle’s body. This pattern suggests that selling pressure is exhausting and buyers are regaining control.

Another important single-candle pattern is the doji, which forms when the opening and closing prices are virtually equal, creating a cross or plus sign shape. A doji indicates market indecision and can signal potential reversals when appearing at trend extremes, especially when confirmed by subsequent price action.

Continuation Patterns

Triangles

Triangle patterns are among the most common continuation formations. Symmetrical triangles form when price creates lower highs and higher lows, converging toward an apex. This pattern suggests consolidation before the price continues in the direction of the previous trend. The breakout can occur in either direction, but statistically, it more often continues the existing trend.

Ascending triangles feature a flat top resistance level and rising support, typically breaking upward. They’re considered bullish continuation patterns. Descending triangles have flat bottom support with declining resistance and usually break downward, functioning as bearish continuation patterns.

Flags and Pennants

Flags are rectangular-shaped consolidation patterns that slope against the prevailing trend. A bullish flag slopes slightly downward during an uptrend, while a bearish flag slopes upward during a downtrend. These patterns typically form after sharp price movements and represent brief pauses before the trend resumes.

Pennants are similar to flags but form small symmetrical triangles instead of rectangles. They also indicate brief consolidations and typically result in continuation moves in the direction of the preceding trend. Both flags and pennants are considered high-probability patterns when they form after strong, impulsive moves.

Rectangles

Rectangle patterns, also known as trading ranges or consolidation zones, occur when price oscillates between parallel support and resistance levels. While rectangles can precede both continuation and reversal moves, they more commonly function as continuation patterns. Traders often buy at support and sell at resistance within the rectangle, then take positions in the breakout direction when price finally breaks through one of the boundaries.

Cup and Handle

The Cup and Handle is a bullish continuation pattern that resembles a teacup when viewed on a chart. The “cup” forms as a rounded bottom, showing a gradual shift from selling to buying pressure. After the cup forms, price pulls back slightly to create the “handle,” which typically takes the form of a small downward drift or consolidation. When price breaks above the handle’s resistance, it signals a continuation of the uptrend with a measured move approximately equal to the depth of the cup.

Wedges

Wedge patterns form when price consolidates between converging trendlines, but unlike symmetrical triangles, both trendlines slope in the same direction. Rising wedges typically act as bearish patterns, whether they appear in uptrends (as reversals) or downtrends (as continuations). Falling wedges generally function as bullish patterns, signaling reversals in downtrends or continuations in uptrends.

Volume Considerations

Regardless of which pattern you’re trading, volume analysis plays a crucial role in confirmation. Generally, patterns should form on decreasing volume, with the eventual breakout occurring on significantly increased volume. This volume behavior validates that the pattern has genuine support from market participants rather than being a false formation.

Practical Application and Risk Management

Successfully trading chart patterns requires more than just pattern recognition. Traders must also consider the broader market context, including overall trend direction, key support and resistance levels, and market sentiment. Entry points typically occur at pattern breakouts, with stop-losses placed just beyond the pattern’s boundaries to limit risk if the pattern fails.

Position sizing should account for the pattern’s measured move—the expected price target based on the pattern’s dimensions. However, traders should remain flexible, as not all patterns reach their full measured moves. Using trailing stops can help protect profits as the trade develops.

Conclusion

Chart patterns provide traders with a structured framework for analyzing price action and identifying high-probability trading opportunities. While no pattern guarantees success, understanding these formations significantly improves a trader’s ability to read market sentiment and make informed decisions. The key to mastering chart patterns lies in practice, patience, and combining pattern recognition with proper risk management. By studying historical examples and paper trading before committing real capital, traders can develop the skills necessary to effectively incorporate these powerful tools into their trading strategies.

Read more:
Mastering Chart Patterns: A Comprehensive Guide to Technical Analysis in Trading

More than 100 senior business leaders gathered in London this week as B Lab UK — the organisation behind the B Corp certification — marked ten years of the UK B Corp movement with a high-profile breakfast summit.

The event, Take 10: The Future of Better Business, unveiled findings from B Lab UK’s first 10-year impact report, which shows B Corps consistently outperforming other UK businesses across growth, investment, resilience and employee impact. The findings also highlight the wider social and environmental value created by certified companies.

Investor and entrepreneur Deborah Meaden, who has backed six B Corps to date, delivered the keynote speech. She described B Corp certification as a “shortcut” for identifying credible, values-driven companies.

“When someone says they are a B Corp, or even going through the process, I understand they really mean it,” she said. “It’s not easy, and the framework gives businesses structure and purpose. If you measure your business purely on profit, you are missing the point.”

Meaden added that intent is becoming a decisive factor in modern business: “Gone are the days when people leave what they care about at the door. Businesses can do well and do good — and ten years ago, that was a bold idea. Now it’s a movement making real change.”

Speakers also included Chris Turner, CEO of B Lab UK; Charlie Bigham, founder of Charlie Bigham’s; Tessa Clarke, co-founder and CEO of Olio; Mahira Kalim, founder of Spruce; and the Deputy Mayor of London for Environment and Energy, Mete Coban.

The UK is now home to the largest B Corp community globally, with more than 2,600 certified companies — including Octopus Energy, giffgaff, COOK and ELEMIS. Collectively, these businesses employ more than 200,000 people across 120 sectors, generating a combined annual turnover of £38 billion.

Growth figures underline the movement’s strength. Between 2024 and 2025, turnover among UK SME B Corps rose by 20% — almost seven times higher than the 3% growth recorded across all UK SMEs. Over the same period, the number of employees at SME B Corps increased by 11%, compared with 2% across SMEs nationally.

The trend continues a pattern of strong outperformance observed between 2023 and 2024, when SME B Corps posted 23% turnover growth against a UK SME average of 17%.

Investor interest also appears higher among certified businesses. Over the past decade, UK B Corps secured a median of £1.5 million in external funding — 18% more than other UK companies.

Chris Turner, CEO of B Lab UK, said the movement’s first decade is only the beginning.

“Our goal is far more ambitious than incremental impact — it’s about redefining the role of business in society. B Corps recognise that people and planet must never come at the expense of profit.”

He added that the movement is fundamentally “rooted in humanity”, empowering businesses to take decisions with long-term outcomes in mind.

Deputy Mayor of London Mete Coban highlighted the capital’s commitment to responsible growth: “With more than 1,000 B Corps now based here, London is proving that green policies and economic growth can go hand in hand. As the world changes, we must protect progress on climate, equality and justice, while creating new opportunities for Londoners.”

The anniversary comes ahead of major changes to the B Corp framework. New B Lab Standards — developed over four years through two public consultations — will take effect in early 2026.

The updated standards will introduce mandatory third-party verification and require all B Corps to meet minimum expectations across areas including climate action, human rights, governance and collective action. The reforms aim to strengthen accountability and improve transparency for both businesses and consumers.

Read more:
Business leaders unite to celebrate a decade of UK B Corps

Aviva chief executive Dame Amanda Blanc has urged the chancellor to rethink plans for a major clampdown on salary sacrifice schemes, warning that the move would penalise both employers and workers while damaging long-term pension saving across the UK.

Speaking ahead of Rachel Reeves’ 26 November budget, Blanc said Aviva was “very concerned” about the Treasury’s intention to cap the amount workers can sacrifice tax-free to just £2,000 a year — a change expected to raise around £2 billion annually.

Salary sacrifice allows employees to give up part of their gross pay in return for pension contributions or other benefits. Because the contribution is taken before tax and national insurance (NI), both individuals and employers save on NI payments. At present, workers can contribute up to £60,000 a year into pensions tax-free under the system.

But pensions experts warn that Reeves’ proposed cap would sharply increase NI bills for employers and employees, likely leading many companies to reduce the generosity of their pension contributions.

“What you’re effectively doing is penalising those employers that actually contribute more to employees’ pensions,” Blanc said. “And you’re also signalling to people who save for their pension that perhaps they shouldn’t do it. That is bad news long-term for the UK, particularly when 15 million people are already not saving enough for retirement.”

The move would also represent a second NI blow for businesses in just over a year. Reeves increased employer NI in her first budget last October — a decision that drew strong criticism from business leaders.

Blanc warned that removing the NI benefit entirely would impose a meaningful cost on firms: “The actual cost to employers of removing that NI benefit from salary sacrifice is not going to be insignificant.”

Her comments came as Aviva delivered a strong third-quarter update. The FTSE 100 insurer said it now expects to realise £225 million in annual cost savings from its £3.7 billion acquisition of Direct Line — almost double the £125 million previously forecast — by 2028.

Aviva also expects to generate operating profit of £2.2 billion this year, excluding any contribution from Direct Line. That means the company is set to hit its 2026 profit target two years early. It also unveiled new three-year goals, including delivering a return on equity of more than 20% by 2028.

Analysts at Bank of America reiterated their “buy” rating on Aviva, saying they expect the insurer to beat its newly updated financial targets.

Despite the strong guidance, Aviva shares fell 42.5p — down 6.1% — to close at 650p. The stock has risen around 40% since the start of the year, with analysts suggesting that many of the upgrades announced on Thursday had already been priced in by investors.

Read more:
Aviva chief warns Reeves that salary sacrifice tax cap would be ‘bad news’ for Britain

Chancellor Rachel Reeves has abandoned plans to raise income tax in this month’s Budget, backing away from what would have been a dramatic break with Labour’s manifesto pledge after warnings it risked sparking a backlash among MPs and voters.

According to officials briefed on the decision, Reeves and Prime Minister Sir Keir Starmer have “ripped up” the proposal, which had been included in the Chancellor’s initial submission of “major measures” to the Office for Budget Responsibility earlier this month. The U-turn, first reported by the Financial Times, was communicated to the OBR only this week.

Reeves had appeared to signal an income tax rise at a press conference last week, fuelling speculation that Labour was preparing to raise both the basic and higher rates. However, concerns that such a move would anger already restless backbenchers — and alienate voters facing rising living costs — prompted a rapid rethink.

Instead of a single high-profile tax rise, Reeves is now expected to pursue what Treasury insiders describe as a “smorgasbord” approach: a series of narrowly targeted tax measures designed to raise the £30 billion needed to fill the gap in the public finances. Options likely to feature include a new gambling levy and increased taxes on high-value properties.

The Chancellor is also under pressure after ditching a separate multibillion-pound plan to impose a charge on professionals who use limited liability partnerships, such as lawyers and accountants. Reeves had hoped a new levy would raise around £2 billion a year, but Treasury modelling suggested it could ultimately cost the government money, as firms would accelerate profit declarations to avoid the new charge. “Rachel decided it just isn’t worth it,” one official said.

There is further uncertainty around proposals for a new “settling-up charge” — an exit tax of up to 20 per cent on assets left in the UK by wealthy individuals who relocate to low-tax jurisdictions. Some officials now believe the measure may be dropped entirely amid concerns it could damage investment, particularly in sectors such as artificial intelligence and technology.

Reeves had previously weighed up a 2p rise in income tax coupled with a 2p cut in national insurance, a move intended to shift the tax burden away from workers and onto pensioners and landlords. Economists estimated the change could raise more than £6 billion, but the political cost appears to have outweighed the revenue gain.

She is, however, still expected to extend the freeze on income tax thresholds — a policy effectively operating as a stealth tax. Analysis by the Institute for Fiscal Studies shows that prolonging the freeze until 2030 would pull 10.1 million people into higher-rate tax bands, raising £8.3 billion for the Treasury but dragging 790,000 additional earners into the higher-rate bracket and forcing millions of pensioners to pay tax on their state pension for the first time.

The retreat on income tax also follows intense lobbying from the City and professional services firms over the LLP charge, as well as warnings that too many large, one-off tax shocks risk undermining economic confidence at a critical moment.

Reeves has insisted that “national interest must come before political expediency” and that “we will all have to contribute”, but within government there is growing acknowledgement that the Budget must balance fairness with political realism — particularly after a decade of stagnant living standards.

Culture Secretary Lisa Nandy defended the Chancellor’s approach, saying Reeves would make “the fairest possible choices” to grow the economy and “ease the pain” households have faced over the past 15 years.

“When the Budget is set out on November 26,” she said, “we will make sure those with the broadest shoulders bear the greatest burden.”

With less than two weeks to go, Reeves now faces a narrowing set of options as she attempts to design a Budget that stabilises public finances without sparking a political revolt.

Read more:
Rachel Reeves abandons income tax rise as backlash forces major budget rethink

There is something exquisitely British about watching a government try to sweet-talk the very people it is about to fleece. Like putting out the good biscuits before the bailiffs arrive.

And so we have Sir Keir Starmer — a man whose natural habitat is somewhere between a Select Committee hearing and an apologetic queue at Pret — inviting the grandees of British business to No 10 for what Downing Street insists on calling an “informal reception”.

NatWest, Sage, Marks & Spencer, Taylor Wimpey, Octopus Energy… all the familiar names trooped dutifully through the famous black door, like polite wedding guests who know full well that the groom is a wrong ’un but have still bought a gift from the list because, well, it’s tradition. And what did they get for their trouble? A drink, a handshake, and the creeping realisation that Rachel Reeves is sharpening her fiscal guillotine for 26 November.

Because let’s be honest: corporate Britain is not stupid. It can smell a tax raid long before it hits. Businesses up and down the country have been braced for this budget ever since Reeves’s first go at the Treasury last year, when she hiked employer national insurance and the minimum wage so aggressively you could practically hear the collective groan from every payroll director in the land. That budget, you’ll remember, destroyed in about nine minutes the painstaking courtship Labour had undertaken in the years after Corbyn — a sort of political couples therapy designed to assure business leaders that yes, the party had changed; no, nobody was coming for their yachts; yes, they could come out from behind the sofa.

Starmer’s reception this week was meant to be a soothing gesture — a warm hug before the cold reality of a £30 billion black hole in the public finances is unveiled. But the whole thing had the atmosphere of a GP offering you a lollipop moments before telling you they’re going to remove your leg “just to be safe”.

What Reeves is reportedly considering next would make even Gordon Brown blush. A manifesto-scrambling rise in income tax (because who needs promises, really?). A full-blown assault on limited liability partnerships (sorry, lawyers; sorry, accountants; most people won’t be sorry at all). And, my personal favourite, a raid on salary-sacrifice pension schemes — those clever little mechanisms businesses use to keep costs down without asking employees to start living on tinned tomatoes.

So yes, the mood in the room was not exactly “Christmas at Liberty”. It was more “annual meeting of people who know the bill is coming but haven’t yet decided who’s paying”.

The tragedy here — and it is a tragedy, in the classic British sense of being entirely foreseeable and yet still somehow depressing — is that Labour really had the business community on side. For a hot minute, Starmer and Reeves were the sensible grown-ups. The ones who wouldn’t crash the economy in a fit of ideological pique. The ones who wouldn’t treat FTSE companies like enemies of the state. The ones who, we were told, “understand how wealth is created”. (And then, three months later, taxed the people who create it.)

But credibility, like a good steak, is hard won and easily ruined. And Starmer’s government appears determined to prod it to death with the sharp end of a policy fork.

The prime minister’s great hope is that business leaders are, at heart, desperate for stability — so desperate that they will swallow any number of tax increases as long as they are announced in complete sentences rather than the fever-dream scribbles of their predecessors in government. There is a degree of truth in this. Business likes predictability. It likes grown-ups. It likes the lights to stay on when it flicks the switch.

But there is a limit to how much “doing your bit” people can be told to do before they start seriously contemplating the joys of Dublin. And Reeves’s recent speech, in which she solemnly informed us all that “each of us must do our bit for the security of our country and the brightness of its future”, felt a bit like being told to wash up someone else’s dishes because “we’re all a family here”.

Downing Street declined to comment on the guest list, naturally, which is Whitehall code for “everyone involved is furious but nobody wants to go first”. But I suspect that behind the forced smiles and the warm white wine, Britain’s top executives were quietly tallying up just how much this government is about to cost them — and whether any of it will actually be worth it.

Because while Starmer may believe that a few canapé-laden evenings can repair the damage, business leaders know better. Trust in politics is not rebuilt with receptions; it is rebuilt with policy that doesn’t change direction every time the wind blows across Horse Guards Parade.

And unless Reeves pulls an economic rabbit out of her red box later this month, the only thing hopping out of No 10 will be Britain’s most mobile — and most taxed — businesses.

Read more:
A canapé and a tax raid: Labour’s new love letter to business

Leaders from some of Britain’s most influential companies were ushered into Downing Street on Wednesday evening as Sir Keir Starmer sought to shore up relations with business ahead of what is widely expected to be a painful, tax-raising budget later this month.

Chief executives from NatWest, the banking giant; FTSE 100 software group Sage; Marks & Spencer; housebuilder Taylor Wimpey; and renewable powerhouse Octopus Energy were among those invited to No 10 for an informal reception with the prime minister. The gathering formed part of an effort to steady nerves across corporate Britain as the Treasury prepares a budget designed to plug a £30 billion hole in the public finances.

The chancellor, Rachel Reeves, will deliver her statement on 26 November — and expectations are grim. Businesses are bracing for a new round of tax rises at a time when relations between the government and industry are already strained.

Reeves’s first budget, delivered in October last year, sparked anger after employer national insurance and the minimum wage were pushed up, driving costs sharply higher for companies. For many bosses, that announcement torpedoed much of the goodwill Labour had rebuilt with industry after its bruising relationship with business under Jeremy Corbyn’s leadership.

Labour had worked hard before the general election to reposition itself as the party of economic stability and pragmatic growth. Starmer and Reeves held a succession of charm offensives with FTSE leaders, private equity firms and entrepreneurs, promising policy steadiness in contrast to the turbulence of previous Conservative administrations. Much of that capital, however, was spent in Reeves’s opening fiscal statement.

The chancellor has since warned repeatedly that further “difficult choices” are unavoidable if the government is to restore public finances. In a speech earlier this month, she cautioned that “each of us must do our bit for the security of our country and the brightness of its future” — a line widely interpreted as a prelude to broad-based tax increases.

Among the measures reportedly under consideration are a rise in income tax that would break Labour’s own manifesto commitments; a clampdown on limited liability partnerships, favoured by law and accountancy firms; and restrictions on salary-sacrifice pension schemes, which would drive up employer costs even further.

Downing Street declined to comment on the guest list or the discussions held at the reception. However, for many in the City, the message is already clear: the government wants business on side before asking it to shoulder yet another share of the fiscal burden.

Read more:
Keir Starmer woos top bosses ahead of tax-heavy budget

Scottish salmon farming is now adding £1 billion a year to Scotland’s economy, according to a major new independent study that underscores the sector’s growing importance to rural communities, the national supply chain and Scotland’s global reputation for high-quality food production.

The report, produced by BiGGAR Economics for Salmon Scotland, reveals that the industry’s overall economic contribution has risen by 25 per cent in four years, reflecting both sustained domestic demand and record-breaking international exports. It describes salmon farming as one of Scotland’s most significant rural economic drivers, supporting 11,000 jobs nationwide, including around 2,500 people directly employed in farming across the west coast and islands.

Average salaries in the sector are now around £44,500, significantly above the Scottish average, and the industry generated at least £37 million in tax last year before wider supply chain contributions are taken into account. Analysts say salmon farming continues to play a vital role in some of the country’s most economically fragile communities, underpinning year-round employment and attracting investment into remote coastal areas.

Deputy First Minister Kate Forbes, who met sector leaders in Edinburgh this week, said the findings highlight not just a major economic contribution but the “resilience, innovation and commitment” of those working in the industry. She praised the sector for paying above-average wages, strengthening supply chains and supporting rural communities, adding that the Scottish Government will “continue to take bold steps” to ensure it remains a national success story.

The report shows that salmon farming contributed £231.2 million in Gross Value Added directly in 2024, while a further £589.9 million was generated through businesses supplying the sector. Additional impact came from sustained investment activity and spending by employees in local communities, bringing the total economic contribution to £953 million—up sharply from £766 million in 2021. When broader impact measures are included, the industry’s annual value rises to more than £1 billion.

Tavish Scott, chief executive of Salmon Scotland, said the industry’s continued growth reflects the hard work of farmers across Scotland’s west coast and islands, where salmon farming remains a central pillar of local economies. He said farm-raised salmon is “the economic backbone of some of Scotland’s most isolated areas”, supporting thousands of well-paid jobs and a network of Scottish businesses that rely on its success. Scott added that the sector’s high environmental and welfare standards, combined with strong global demand, have helped to position Scottish salmon as one of the world’s leading premium food products.

The economic impact is widely felt across Scotland’s five salmon-producing regions. The Highlands benefit the most, with more than £300 million generated locally, followed by Argyll and Bute, Shetland, the Western Isles, and Orkney, each of which receives significant economic uplift from salmon-related jobs, investment and supply chain activity.

Nikki Keddie, director at BiGGAR Economics, said the report shows how salmon farming provides stability and opportunity in communities that may otherwise struggle to sustain long-term employment. She described the sector as a “vital economic anchor” for rural Scotland, noting that productivity levels in salmon farming outpace national averages and play a major role in supporting Scotland’s coastal resilience.

With rising demand, expanding export markets and continued investment in innovation, the Scottish salmon sector looks set to remain a cornerstone of the national economy, supporting jobs, strengthening supply chains and sustaining communities across Scotland’s west coast and islands.

Read more:
Scottish salmon delivers £1bn boost to economy as new report reveals soaring impact

For catering and food businesses, packaging shapes the entire experience – how well the food travels, how customers consume it and what they say about it afterwards.

Yet the story doesn’t end with the meal itself. What happens to those cups and containers once they’ve served their purpose is becoming just as much a part of how our industry is defined.

Across the UK, more and more cafés, caterers and food retailers are rethinking the role of packaging – not just as a means of transport or presentation, but as a way to cut waste, control costs and support a more sustainable future. Where once presentation was key to attracting custom and creating a buzz, now businesses are discovering packaging that looks good, performs well and can be easily recycled – a shift driven as much by innovation as by customer expectation.

The growing demand for sustainability in food service

No kitchen or catering operation runs without waste. Prep waste, food waste and packaging waste all have a significant impact on the environment. Traditional plastics and foils have their place for durability and food safety, but many businesses are now balancing these materials with biodegradable food packaging that can be recycled or composted once it’s done its job.

Sustainable doesn’t have to mean flimsy or plain. Modern materials like paperboard, bagasse and plant-based plastics hold up just as well as their conventional counterparts, and often look smarter on the table. More customers are beginning to notice that shift. They want the food they love to come in packaging that reflects the same level of care as the food itself.

Practical benefits of eco-friendly packaging

Sustainability is only part of the story. The real win is practicality. The best packaging is sturdy, stackable and heat-resistant, and makes life much easier for those working behind the counter.

That’s exactly what iKrafts specialises in: practical and durable packaging across a wide variety of materials, including recyclable plastics and fully compostable trays. Our range gives food businesses such as festival vendors, bakeries and takeaways the freedom to build a packaging that fits their workflow and delivery challenges, and meets their values and environmental pledges.

Some of the latest designs are helping food operators work smarter:

Compostable takeaway boxes made from sugarcane pulp that resist grease and moisture.
Paper cups and lids lined with plant starch instead of plastic.
Precision cardboard trays and sleeves designed for high-volume industrial catering pallet delivery.
Recyclable cutlery and straws and other vital catering extras.

How eco-friendly packaging helps reduce waste

Packaging that can be recycled or composted gives businesses more control over what happens after service. Compostable containers can go out with food waste, cutting down on contamination in recycling streams, while lightweight packaging takes up less storage space and lowers transport emissions.

The eco-friendly food packaging range at iKrafts is designed with convenience, performance and environmental impact in mind. Made from renewable materials, these options can be replenished more sustainably and often cost less to dispose of than non-recyclable waste.

Small changes that make a big difference

Switching materials doesn’t have to be all or nothing. Many businesses start by replacing a few high-volume items – such as boxes, cups or cutlery – and expand from there. Simple actions can have a measurable impact:

Trial compostable containers: test new materials alongside existing stock to compare performance.
Offer recyclable cutlery: give customers options that look and feel premium.
Work with UK-based suppliers: reduce transport emissions and improve turnaround times.
Train your team: make sure everyone knows which bins to use and how to separate materials correctly.

Partnering with a supplier who understands the practical pressures of hospitality makes all the difference. iKrafts offers an extensive selection of biodegradable food packaging designed to meet the real demands of kitchens, cafés and caterers – durable, reliable and easy to store.

With consistent stock, short lead times and products suited to both hot and cold meals, iKrafts helps businesses build packaging strategies that balance sustainability with performance. It’s a practical step towards cutting waste without compromising presentation or customer experience.

Looking ahead

Sustainability is now part of everyday business planning. Whether you’re running a local café or managing large-scale catering contracts, the right packaging mix will reduce waste, improve efficiency and keep customers coming back.

As materials evolve and recycling systems improve, sustainable packaging will only become easier to integrate. With suppliers like iKrafts offering both conventional and compostable ranges, food service businesses have more choice than ever in how they serve responsibly.

Read more:
Sustainable Serving: How to Cut Waste with Eco-Friendly Packaging