Over 21s to get £12.71 an hour as minimum wage increased

The Labour government is set to unveil a new North Sea Strategy during the upcoming Budget speech, which includes plans to relax drilling restrictions in the North Sea. This announcement is expected to be made by Chancellor Rachel Reeves, highlighting a significant shift in energy policy.

The UK is set to see an increase in minimum wage rates, benefiting approximately three and a half million low-paid workers across the country. This adjustment reflects ongoing efforts to improve the financial conditions of the workforce and address living costs.

The UK government has officially selected Heathrow Airport's plan for a longer third runway, which will extend to 3.5 kilometers and necessitate the construction of a new road tunnel beneath the airport. This decision is part of a broader £33 billion expansion initiative aimed at increasing the airport's capacity and is expected to be operational by 2035.

The government has announced an expansion of the Help to Save scheme, which provides a 50% bonus to individuals on low incomes after two and four years of saving. This initiative aims to encourage more people to save and improve their financial stability.

The UK government has announced an extension of the sugar tax to include pre-packaged milk-based drinks, such as bottled milkshakes and lattes, by lowering the sugar threshold from 5g to 4.5g per 100ml. This decision is part of ongoing efforts to address rising obesity rates in the country.

The International Association for Cryptologic Research has canceled its elections after losing an encryption key, which they described as an 'honest human mistake.' This incident raises concerns about the security and reliability of cryptographic processes within the organization.

Chancellor Rachel Reeves has called for unity among Labour MPs regarding the upcoming Budget, aiming to alleviate concerns about her proposed tax and spending plans. This appeal comes as the Chancellor prepares for a critical budget announcement scheduled for November 26, which is expected to include both tax increases and spending cuts.

Chancellor Rachel Reeves is reportedly planning to change the rules surrounding Individual Savings Accounts (ISAs), which are tax-efficient savings accounts available to UK residents. The proposed changes include a reduction in the annual cash ISA limit from £20,000 to £12,000, a move that has raised concerns among financial leaders regarding its potential impact on consumer savings and mortgage rates.