Tuesday newspaper round-up: Post Office, factories, ISAs
By Michele Maatouk
Date: Tuesday 20 May 2025
(Sharecast News) - Hundreds of former sub-postmasters will reportedly be compensated by the Post Office after it accidentally leaked their names and addresses in June 2024. According to the BBC, the Post Office has confirmed that individual payouts will be capped at £5,000 although higher claims may still be pursued. It comes almost a year after 555 victims of the Horizon IT scandal had their personal details published on a website. - Guardian
The number of billionaires in the UK has grown sharply - from 15 in 1990 to 165 in 2024 - at the same time as inequality in the UK's overall wealth distribution has dramatically increased, analysis has found. Timed to coincide with the Sunday Times' rich list, the Equality Trust's investigation also found that billionaires have become "ludicrously" more wealthy, with their average wealth rocketing by more than 1,000% over the same period. - Guardian
Factories face higher taxes under Sir Keir Starmer's EU "reset" deal amid warnings that heavy industry is already being crushed by sky-high energy costs. The Prime Minister has agreed to work with Brussels to link the UK and EU markets for so-called carbon credits, a form of taxation where industrial businesses are charged for any CO2 emissions over an allowed limit. - Telegraph
Rachel Reeves has backed down on plans to reduce the tax-free Isa savings allowance, as she bowed to mounting pressure from the City. The Chancellor has confirmed that she will not change the £20,000 annual limit on Isas, in a move that will benefit millions of savers. - Telegraph
EY's audit of NMC Health before its collapse due to alleged internal fraud was "deficient in multiple respects" and the failings "extremely serious", according to an investigation by the accounting regulator. The provisional findings of a report by the Financial Reporting Council (FRC) were referenced in written submissions at the start of the High Court trial against EY, the Big Four accounting firm, on Monday by insolvency practitioners at Alvarez & Marsal, the administrators of NMC, a former FTSE 100 company. - The Times
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