CHANCELLOR URGED TO PROTECT BUSINESSES 

Hospitality groups have called on Jeremy Hunt to freeze business rates and to extend reliefs ahead of the Autumn Statement (Sky News). 

In a letter signed by retail, hospitality and leisure firms, signatories told the chancellor the measures could protect businesses, jobs and the high street. 

Meanwhile, Hunt is expected to announce new measures to support the UK workforce amid a rise in long-term sickness (City AM). 

OFFSHORE WIND FARM SUBSIDIES TO BE RAISED 

The UK government will offer higher subsidies for offshore windfarms following discussions with developers who have been facing increased prices (The Guardian). 

The government is trying to incentivise energy firms to invest by increasing the price paid to generate electricity through offshore wind farms by 66 per cent (BBC News). 

Developers felt subsidies were too low at the last government auction, in a sector that has been facing rising costs (Financial Times). 

NEWS IN BRIEF

The Bank of England could reduce interest rates in Spring 2024 amid falling inflation, Pantheon Macroeconomics analysis shows (The Times). 

Progress on addressing sexism in the financial services industry has ‘flatlined’, the Treasury Committee has warned (This is Money). 

Years of low interest rates attracted private equity investors who could now suffer due to their investment in assets with inappropriate risk profiles, the Financial Times reports. 

Technology platform TikTok has joined Meta in challenging the European Union’s decision to brand it as a “gatekeeper” under the Digital Markets Act, which assumes businesses are dependent on their services to reach customers (Reuters).