Thursday newspaper round-up: Welfare cuts, PHEVs, London City Airport
By Michele Maatouk
Date: Thursday 16 Oct 2025
(Sharecast News) - Britain's leading tax and spending experts have urged Rachel Reeves to consider announcing billions of pounds in welfare cuts in next month's budget to help placate jittery financial markets. After the chancellor gave her strongest hint yet that spending cuts were under consideration, the Institute for Fiscal Studies (IFS) called on Reeves to take "bold" action to plug a potential £22bn shortfall in the government finances. - Guardian
Plug-in hybrid electric vehicles (PHEVs) pump out nearly five times more planet-heating pollution than official figures show, a report has found. The cars, which can run on electric batteries as well as combustion engines, have been promoted by European carmakers as a way to cover long distances in a single drive - unlike fully electric cars - while still reducing emissions. - Guardian
The former owner of Thames Water has expanded its sprawling network of UK assets by taking control of London City Airport. Australian investment giant Macquarie is to acquire a further 50pc stake in the capital's business travel hub, just four months after acquiring an initial 25pc. While the value of the London City deal was not disclosed, it is believed to be worth billions of pounds and comes after Macquarie announced plans last year to invest £20bn in the UK. - Telegraph
One of Donald Trump's Scottish golf clubs has posted record sales as golfers stump up as much as £1,000 to play a round. Revenues at Trump Turnberry in Ayrshire rose 15pc to hit £24m in 2024, bolstered by thousands of Americans making the trip. This led to losses narrowing to £632,000, according to newly-filed accounts, compared to £1.7m in 2023. - Telegraph
The City regulator faces mounting pressure over its plan for an £11 billion consumer compensation scheme for mis-sold motor finance after being accused by peers of a "deep lack of clarity" in its redress proposals. Senior executives at the Financial Conduct Authority, including Nikhil Rathi, its boss, came under fire from the House of Lords financial services regulation committee on Wednesday over the way the regulator has constructed its scheme and for the time it has taken to tackle problems in the car loans market. - The Times
The Norwegian energy giant developing Britain's biggest untapped oil field has detailed the emissions that it would generate as it seeks to regain permission to start production. Equinor said that the total greenhouse gas emissions from using the oil and gas produced from the Rosebank field over its lifetime - estimated to be about 25 years - would be the equivalent of 249 million tonnes. - The Times
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