UK construction sector ‘suffers sharpest slowdown since first Covid lockdown’

The UK jobs market showed signs of slowing down in November, as indicated by a recent survey, raising concerns ahead of the upcoming budget announcement. This trend reflects a broader economic uncertainty that has been affecting various sectors, including construction, which has seen its sharpest slowdown since the first Covid lockdown.

A report is expected to reveal that fraud and errors in Covid support schemes have cost UK taxpayers £10.9 billion, highlighting significant deficiencies in anti-fraud controls. This financial loss raises concerns about the management and oversight of government support during the pandemic.

Nikhil Rathi, the chief executive of the Financial Conduct Authority, visited the Pioneers Museum in Rochdale to emphasize the importance of supporting credit unions as a means to combat loan sharks. This initiative aligns with a Labour manifesto pledge to double the size of the mutuals sector, highlighting a commitment to local lending solutions.

A recent study has revealed that the most commonly used password in the UK is 'admin', followed closely by '123456', raising concerns among cybersecurity experts as these easy-to-guess passwords continue to dominate despite ongoing warnings about online security.

Richard Walker, the chair of Iceland supermarket, has reportedly left the Conservative Party to support Labour leader Sir Keir Starmer and is set to become a Labour peer. This move signifies a notable shift in Walker's political alignment, reflecting his endorsement of Labour's policies and leadership.

A retired civil servant, Derek Ritchie, has been ordered to repay £25,000 due to overpayments in his pension benefits, which were miscalculated since 2014. This revelation, communicated to him in March, has left the 63-year-old facing potential financial hardship and the prospect of returning to full-time work after retirement.

HM Revenue and Customs (HMRC) has issued a warning to crafters, artisans, and designers in the UK regarding the necessity to declare earnings from festive side hustles if their income exceeds the £1,000 trading allowance for the tax year. This period is particularly busy for individuals selling goods at Christmas markets or online.

The UK government is working towards finalizing a youth mobility scheme with the EU by the end of 2026, which would allow tens of thousands of young British and European citizens to live and work in each other's countries. This initiative is part of a broader effort to reset the UK's relationship with Europe following Brexit.