Business News Round Up (10/09/2026)
Budget must not add to business costs, says CBI chief
John Healey’s October Budget must draw a red line under more rises in the cost of hiring, investing and doing business, the head of the CBI will say at an event in Glasgow tonight. Speaking to business and political leaders in Glasgow, CBI chief executive Rain Newton-Smith will also warn Scotland’s First Minister John Swinney that his proposed food price cap “won’t work” and demand that prices are left to the market. In a wide-ranging address at the CBI Scotland annual dinner, Ms Newton-Smith will call for a bold and ambitious reset of the UK’s relationship with the EU as well as a quick decision on the Jackdaw gas field. She will remind Andy Burnham’s new government that the cost-of-living crisis “is also a cost-of-doing-business crisis” and that “the two are inseparable.”
UK universities pledge work experience to more than 1 million students
British universities have pledged to give all undergraduates work experience within a decade, as higher education seeks to address employer concerns about the work readiness of young people and a growing focus on technical skills. More than 1mn students a year will ultimately be offered workplace experience ranging from short spells of job shadowing to year-long industry placements, the umbrella body Universities UK said on Thursday. Students’ readiness for the world of work and the value of a degree have come under increasing scrutiny, with research finding recently that the financial return of a university education is one-third lower than previously estimated. At the same time, ministers have increasingly focused on non-graduate technical education and dropped a target of sending half of young people to university while shifting political focus to the roughly 981,000 people aged between 16 and 24 who are not in education, employment or training.
https://www.ft.com/content/1e9d61f6-0884-4abd-baae-6bc3cb8a2f99?syn-25a6b1a6=1
Six in ten millionaire investors consider leaving over tax
More than six in ten millionaire investors have considered leaving the UK because of concerns over taxation, according to new research from Wealth Club. The study of 341 Wealth Club clients, all with overall wealth of £1 million or more, found that 61% have at least considered becoming non-UK tax resident because of UK taxes. It included 16% who are actively considering leaving and 45% who have considered it but are unlikely to move. Just 36% said they have never considered leaving the UK because of tax. The estimated average wealth of those surveyed was around £4.5m. Just 2% of respondents said inheritance or family wealth was the main source of their wealth. Around 12% accumulated most of their wealth by starting a business, 11% through self-employment, 40% through employment earnings and a further 33% through successful investing.
Scottish Government announces £5.7 million boost for tech solutions to public service challenges
The Scottish Government has announced a £5.7 million boost to bring technology solutions to a series of public service challenges – including substance use, child protection and fuel poverty. CivTech – the pioneering government innovation accelerator – has unveiled six new challenges, which aim to support tech adoption across a wide range of government service areas. The latest funding round, the 12th since the scheme was launched in 2016, aims to help innovative Scottish startups and companies develop new products, secure commercial opportunities and create high-value jobs. Improving patient transport for those receiving vital NHS treatment, strengthening child protection through better information sharing, and preventing fuel poverty are among the issues being tackled in the latest round of the programme.