The following is a summary of an article by Simon Pittaway published on the Resolution Foundation substack. He digs into the data to figure out why mortgage rates are rising, even as the Bank of England holds off on rate rises.
The Scottish parliamentary elections of May 2026 returned the SNP as the largest party, with 58 seats, supported by a record 15 Greens. Together they form a pro‑independence bloc, though still short of an outright majority.
E.ON has agreed to buy OVO Energy, creating what will become Britain’s largest household energy supplier, with around 9.6–10 million customers once the deal completes. The deal was announced on 11 May 2026.
Helen Dickinson, Chief Executive at the British Retail Consortium, said, “April’s sales fall was largely driven by the Easter shift, with food hit hardest. But weak consumer confidence also played a role as fears about the Middle East conflict driving up living costs led shoppers to rein in.
His Majesty’s most gracious speech to both Houses of Parliament. My Lords and Members of the House of Commons.
For most of the past century, the global oil system was built on one assumption. Crude oil would always be plentiful, refineries would always be running, and tankers would always be able to move freely.
The King’s Speech – the second under this government – is expected to unveil over 35 bills and draft bills facing up to the big challenges our country faces and put the UK on a stronger, fairer path that unlocks hope for people across Britain. King’s Speech will strengthen public services, reform the state and reverse decline.
Entries are now open for the Women’s Enterprise Scotland Awards 2026, the awards recognise success and provide a platform for showcasing the achievements of Scotland’s inspiring women-led businesses. There are nine award categories to choose from to enter and you can apply for free now.
When people in Caithness talk about taxes, they usually mean income tax, council tax, or VAT on the weekly shop. But there is another tax, less visible yet just as punishing in the billions swallowed every year by debt interest.
From today (12 May 2026), only learner drivers can book and manage their own driving test - part of a crackdown on exploitation by third-party services. The Driver and Vehicle Standards Agency (DVSA) has introduced new rules for car driving test bookings, putting learners firmly in control of their own booking.
A public consultation opens today on proposals to introduce Short Term Let Control Areas (STLCA) in Highland with the aim of striking a better balance between tourism growth and local housing need. The Highland Council is seeking views from residents, communities, businesses and the tourism sector on proposals to introduce two STLCAs: Inverness City STLCA, which would cover the wards of Inverness West; Inverness Central; Inverness Ness-side; Inverness Millburn; and parts of Inverness South, including Westhill, Milton of Leys and Slackbuie, and; Highland Rural STLCA, which would cover the wards of Lochaber; Wester Ross, Strathpeffer and Lochalsh; Sutherland; Skye and Raasay; Aird and Loch Ness; and parts of Inverness South, including Tomatin and Daviot.
For weeks the global economy has appeared to survive the Iran crisis better than many feared. Petrol stations remain open, aircraft are still flying and supermarket shelves are still stocked.
Caithness is heading into another 12–18 months of elevated living costs, driven by fuel, food, energy, and mortgage pressures that hit rural households harder than the Scottish average. Even if UK inflation falls on paper, the Caithness lived reality will stay higher because distance, transport, and weak local competition amplify every national shock.
For most households, mortgage rates feel like a simple question: Are they going up or down? But behind every shift in a lender’s pricing sheet lies a deeper story and one that begins not in a bank branch or a mortgage broker’s office, but in the bond markets. And over the past few weeks, those markets have been sending a clear and uncomfortable message that UK mortgage rates are under renewed upward pressure, and the hoped‑for easing in 2026 is drifting further out of reach.
The decision by the Scottish National Investment Bank to channel major investment into large-scale housing funds highlights the growing role of institutional investors in tackling Scotland’s housing shortage while also seeking long-term financial returns. Recent reports have highlighted a £50 million investment by the Bank into affordable housing initiatives linked to major private investment managers, part of a wider strategy to boost the supply of energy-efficient rental homes across Scotland and the wider UK.
When the United Kingdom voted to leave the European Union in 2016, the economic consequences were fiercely debated. Supporters predicted a surge in global trade, regulatory freedom, and renewed national dynamism.
UK businesses are being urged to strengthen their cyber defences against fast-evolving AI-enabled threats. Businesses encouraged to sign Cyber Resilience Pledge to strengthen defences against fast-evolving AI-enabled threats.
UK gilt yields are surging again today, the pound is slipping. This combination increases the risk of higher UK interest rates, or at least delays any cuts.
Oil has crept back up towards — and in some trading briefly above — $106 a barrel mainly because traders now fear the Middle East situation is deteriorating again after hopes of a breakthrough between the US and Iran faded. The biggest factor remains the continuing disruption in the Strait of Hormuz, one of the world’s most important oil shipping routes.
Hundreds of thousands of filers submitted their Self Assessment tax return for the 2025 to 2026 tax year between 6 and 12 April. 298,905 people filed their Self Assessment tax return in the first week of the tax year and a record 737,891 in April 2026.