Tag: United Kingdom

EconomyGovernmentPolicy

UK Government’s £6bn Red Tape Reduction Plan Faces Criticism as Economic Concerns Mount

The Labour government’s pledge to save businesses £6bn through cutting administrative burdens has been dismissed by opposition parties as not “remotely serious.” The announcement comes amid concerning borrowing figures and ongoing debates about Brexit’s economic consequences.

Government Unveils Business Deregulation Strategy

Chancellor Rachel Reeves and Business Secretary Peter Kyle have announced a significant initiative to reduce administrative burdens on UK businesses, according to reports from a regional investment summit in Birmingham. The Treasury claims the measures could save companies £6bn annually by the end of the current parliamentary term, while the event itself reportedly involves £10bn in private sector investment commitments for regional wind energy projects.

by Darren Holt
GovernmentPolicyTrade

UK Pushes for Quick EU Deals Amid Brexit Fallout, Faces Cautious Brussels Response

British ministers are accelerating efforts to strengthen EU relations, with new urgency around youth mobility and trade agreements. However, European officials reportedly show less enthusiasm for rapid negotiations amid differing priorities and political considerations.

Britain’s Renewed EU Outreach

According to political analysts, the United Kingdom has significantly intensified its efforts to rebuild relations with the European Union since the Labour government took office. Sources indicate that multiple ministers, including Chancellor Rachel Reeves and EU Relations Minister Nick Thomas-Symonds, have been emphasizing the economic damage caused by Brexit and pushing for rapid progress in negotiations.

by Natalie Brooks
EnergySoftwareTechnology

Octopus Energy’s Kraken Platform Emerges as UK’s Tech Unicorn Amid Global Expansion

Kraken Technologies, the software platform behind Octopus Energy, is reportedly overtaking its parent company’s retail energy business in value. The platform, which serves over 70 million households globally, is preparing for a potential public listing as it expands its international footprint.

The Rise of Kraken Technologies

Kraken Technologies, the software platform developed by UK energy supplier Octopus Energy, is reportedly becoming more valuable than the retail energy business that created it, according to recent analysis. The platform, which manages everything from billing to electric vehicle charging for utility companies worldwide, has grown into one of Britain’s most valuable technology startups of the past decade.

by Sarah Collins
GovernmentTechnology

UK Government Considers Reversing Offshore Ban on £8 Million Digital Procurement Contract

The UK government is reportedly reconsidering its ban on offshoring work for an £8 million procurement system contract. According to official notices, the Cabinet Office may permit supplier Goaco Group Ltd to subcontract advisory support abroad despite previous security restrictions requiring all work remain within the UK.

Potential Policy Reversal on Offshore Restrictions

The UK Cabinet Office has signaled it might allow a supplier to subcontract work offshore for an £8 million digital procurement platform contract, according to reports, despite previously prohibiting such arrangements due to security concerns. The potential policy shift involves maintenance of the Central Digital Platform (CDP), an online system where all UK contracting authorities publish procurement information.

by Natalie Brooks