Michael Race

1 week ago | bbc.co.uk | Nick Marsh |Michael Race

Alexander is expected to say that Conservative governments presided over the cost of HS2 rising by £37bn between 2012, when the line was first approved, and the general election last year. Under the original plans, HS2 was intended to create high-speed rail links between London and major cities in the Midlands and North of England. It was designed to cut journey times and expand capacity on the railways, but has has faced myriad challenges and soaring costs.

1 week ago | bbc.com | Michael Race

British Steel secures £500m contract to supply UK train tracksMichael RaceBusiness reporter, BBC NewsPA MediaBritish Steel has secured a five-year contract worth £500m to supply train tracks for Network Rail. The company will forge more than 337,000 tonnes of track in a deal safeguarding the short-term future of the Scunthorpe steelworks.

2 weeks ago | aol.com | Michael Race

The UK economy suffered its worst contraction in almost two years in April as taxes increased for businesses, household bills jumped and exports to the US plunged. The economy shrank by 0.3%, more than the 0.1% fall predicted by experts - marking the steepest monthly decline since October 2023In April, employers' National Insurance and water, energy and council tax bills all rose, while the introduction of tariffs by President Trump led to the largest monthly fall on record in exports to the US.

2 weeks ago | bbc.com | Michael Race

UK economy shrunk in April as tax rises kicked inMichael RaceBusiness reporter, BBC NewsBBCThe UK economy shrunk by more than expected in April as tax increases kicked in for employers and British exporters faced huge uncertainty over US trade tariffs. The economy contracted by 0.3%, with the services sector being particularly hard hit. Economists had predicted a 0.1% fall. In April, employers' National Insurance rose while energy, water and council tax bills increased for households.

2 weeks ago | bbc.co.uk | Michael Race |Simon Jack |Alice Cunningham

Michael Race & Simon JackBusiness reporter & Business editor, BBC NewsThe prime minister has said he is "not writing a blank cheque" to pay for a new UK nuclear power plant, after the government announced it would commit £14.2bn to the project. Sir Keir Starmer told the BBC the development of Sizewell C on the Suffolk coastline would create 10,000 jobs over the next decade, and provide energy security and independence for the country.