Tuesday newspaper round-up: Consumer confidence, FCA, Octopus Energy
By Michele Maatouk
Date: Tuesday 25 Mar 2025
(Sharecast News) - Consumers are cutting back spending on everyday items amid falling confidence in the UK economy before Rachel Reeves's spring statement, according to a survey. As the chancellor prepares to confirm billions of pounds in cuts to welfare and government spending on Wednesday, the research by KPMG showed growing numbers of people in Britain believed the economy was heading in the wrong direction. - Guardian
The City watchdog is considering changing rules to allow people to receive clearer information from financial firms to make it easier for them to find and compare products. The Financial Conduct Authority (FCA) is exploring how it can simplify communications about savings accounts. The watchdog, which will announce its five-year strategy on Tuesday, will also review parts of its credit advertising rules, such as lengthy terms and conditions. - Guardian
HMRC could be forced to repay Uber £1.3bn after losing a key court battle over attempts to charge VAT on minicab fares. The tax authority is at risk of steep payments after failing to overturn a legal ruling against Bolt, Uber's Estonian rival. This decision is likely to have implications for other ride-hailing apps, including Uber, which has been battling HMRC over the £1.3bn VAT bill it has been charged since 2022. - Telegraph
EU rules on ethical investing are blocking almost £100bn of funds from flowing into the defence industry amid a push by Britain and Europe to bolster military spending. Analysts at investment bank Morgan Stanley said regulations introduced by the EU four years ago had blocked "ethical" funds from investing in weapons. They said billions could be unlocked for European and UK defence if the rules were overturned. - Telegraph
Proponents of zonal electricity pricing are expecting "mass migration to windy places", the boss of British Gas owner Centrica has claimed. Chris O'Shea has taken to social media to argue against proposals for a radical shake-up of Britain's electricity market, which are being championed by British Gas's rival, Octopus Energy. - The Times
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