Closing post
Time to recap….
UK consumer confidence has fallen this month, as households report that their current finances continued to deteriorate in November, while pessimism about the financial outlooks for the year ahead has risen.
Britain and the United States have signed a new agreement for civil nuclear collaboration at the COP29 summit, that could speed up the development of new technologies.
Thames Water has £23bn of assets that are in urgent need of repair and the supply of water to its 16 million customers is “on a knife-edge”, a Guardian investigation has found
Sources have also warned that Thames Water’s IT ‘falling apart’ and is being hit by cyber-attacks.Economists at the CEBR have calculated that Donald Trump could wipe 1% off the UK economy by imposing new import tariffs.
The rise in UK employment costs is going to hit growth and wages next year, Goldman Sachs have forecast.
UK households will also face a 1% rise in energy bills in January, when the price cap is next changed, analysts at Cornwall Insight have calculated.
The average asking price on a UK home has dropped by more than £5,000 this month as the autumn budget caused housing market jitters.
UK and US sign civil nuclear collaboration deal
Britain and the United States have signed a new agreement to collaborate on civil nuclear technology at the COP29 summit.
The agreement, signed by UK Energy Secretary Ed Miliband and US Deputy Secretary of Energy David Turk today, aims to pool billions in research funds and share information on advanced nuclear technologies.
The goal is to speed up the development of new technologies, such as advanced modular reactors, to help decarbonise industry and boost energy security.
The new agreement will come into force from 1 March 2025.
Energy Secretary Ed Miliband says:
“Nuclear will play a vital role in our clean energy future.
“That is why we are working closely with our allies to unleash the potential of cutting-edge nuclear technology.
“Advanced nuclear technology will help decarbonise industry by providing low-carbon heat and power, supporting new jobs and investment here in the UK.”
The UK government says the agreement builds on a pledge made last year at COP28 to triple nuclear energy capacity globally by 2050.
It expects this new agreement will also be signed by Canada, France, Japan, Republic of Korea, Republic of South Africa, China, Euratom, Switzerland and Australia.
You can track the latest action at COP 29 here:
