Business

Liz Truss is long gone – but her fiscal meltdown still dictates every step Labour makes | Max Mosley

Published

2 days ago

July 6, 2025

On 6 September 2022, Liz Truss entered No 10 with a clear vision for the country; the country asked her to leave less than 50 days later. But nearly three years on, even though all that remains of her premiership at Downing Street is a portrait she didn’t stick around long enough to see hung, it is she who really runs Britain.

Not through her influence – which has since been reduced to poorly attended speeches at far-right conferences in the US – but through the fear she left behind. Truss may be gone, but what remains is the shadow her failure cast, and the rigid fiscal caution that grew out of it.

Last week’s benefits bill fiasco is a case in point. While all the talk from this government was about getting disabled people into work, they presented no real evidence that siphoning money away from this group will achieve this. The benefit cuts were driven by a rush to find government savings after GDP growth forecasts were lower than expected, threatening the chancellor’s ability to meet her own fiscal rules. If this strikes you as an odd way to make major policy decisions, then you’re not alone.

We’ve ended up in a world where a one percentage point difference in a GDP forecast cascades down into a series of reforms that would have pushed hundreds of thousands into poverty. Why? Because the possibility of not meeting the fiscal rules was apparently spooking the markets.

The chancellor has been consistent with these fiscal rules. She told the Global Borrowers and Bond Investment Forum (ie bond investors, the same people who turned on Liz Truss) that they were essential for underpinning financial stability.

But fiscal rules have become a religion. In this self-imposed straitjacket, governments believe they can only spend if the economy is growing and borrow if the bond markets nod approvingly. These rules weren’t created by Truss, but their new totemic status in British politics was forged in the fire she left behind.

The result? We’ve boxed ourselves into a corner. Our public sector needs money. Growth is flat and threatened by global instability. Interest rates are high. But under these arbitrary rules, we’re left with just two levers: raise taxes or cut spending.

MPs and the public have shown that they are unwilling to tolerate further cuts, seemingly more alive than the government to the fact that they will create further costs in the long run. Who can blame them? The public isn’t irrational. They have seen the state decay after 14 years of cuts; they don’t believe it will be able to stand another round. They have also lived through years of stagnant wages and will be wary of tax rises on the back of already squeezed household budgets.

Plans to means-test the winter fuel payment led to this government being accused of attacking elderly people. Last week, £5bn of rushed and flawed benefit cuts were rightly destroyed through a rebellion from the government’s own MPs.

And while there is a growing consensus about the need to tax wealth fairly, this government so far appears unwilling to make these trade-offs. The closest we have come to anything resembling a bold wealth tax is a fairly meagre change to capital gains tax rates.

And so here we are, being informed that there is a “black hole” in the public finances that must be filled at all costs, yet with no politically acceptable route to make this happen. But there is a third lever that they should consider: rethink the fiscal rules themselves, and with them, our assumptions about debt and growth. Instead, Westminster treats these constraints as sacred.

That’s the legacy of Truss. Her mini-budget may have collapsed in days, but the fear it left behind governs us still. The bond market is now our unofficial second chamber. Every policy is measured against its hypothetical response. It doesn’t matter that the markets themselves aren’t demanding cuts, only that politicians think they might.

We are approaching a fundamental choice: do we continue trying to appease the markets by clinging to a set of self-imposed constraints that block the kind of spending needed to improve living standards and revive growth? Or do we remove those constraints and make the decisions necessary to fix our economy? I know which I’d prefer, not least because public investment can boost growth, raise tax revenues and ease pressure on the national debt over time. The alternative of more austerity risks doing the opposite: choking off growth, weakening the economy and actually making our debt burden harder to manage as a result.

The fear is that markets will punish us for daring to spend. But that fear has become self-defeating. In reality, the financial returns from well-targeted public spending – on infrastructure, childcare, health, skills – are often far higher than our anaemic assumptions allow. The economic returns are bigger, the benefits broader and the risks lower than we have conditioned ourselves to believe. A politics that always talks down the impact of spending ends up justifying stagnation.

That fear is how you end up with a government paralysed by its own Truss trauma, an exhausted politics where every problem is diagnosed but none are treated, because every solution breaks a taboo. And the longer we stay in this holding pattern, the more brittle the state becomes – and the more we’re left asking why nothing ever seems to change.

Until someone finds the courage to govern without flinching, we will remain stuck in this loop, where fear dictates policy, and decline is dressed up as stability. Until then, this is Liz Truss’s UK – we’re all just living in it.

Source link

Business

Three ways you can make AI generate business leads for you

Published

2 hours ago

July 8, 2025

Sharon Zeev Poole

For quite a while now, people within the business community have been talking about how AI continues to improve task efficiency and streamline operations, but few are truly exploring how this new era is affecting new business lead generation.

Since opening Agent99’s doors 18 years ago, part of my new business strategy has simply been to ask people how they found us. The majority of our leads come through referrals, followed by Google. However, just last week, I was on two new business calls and when I asked both prospects how they came across Agent99, they gave the same surprising response: “by asking ChatGPT”.

Where consumers and clients once relied on Google for recommendations, be it agencies, restaurants, dry cleaners, or anything in between, that’s no longer the default.

Today, people are entering these same queries into AI tools and expecting real-time, curated answers based on a mix of web data, reviews, and sentiment. And this shift has caught many business owners off guard. A high Google ranking no longer guarantees your business will be visible or recommended through AI platforms. All that work on your SEO strategy? It’s no longer the only game in town.

This was a light bulb moment for me as a business owner. If you’re not thinking about how you rank on AI platforms and prioritising this, you’re losing new business opportunities.

When I took a deeper look at why we were ranking so well on ChatGPT, and how this new kind of ‘search engine’ prioritises content, I realised (after some thorough research) that it’s because we’ve consistently focussed on our own PR (ie third party credible endorsement), winning awards, garnering reviews from our clients, and reporting on our marketing campaigns on our own website blog and social pages. This is what AI platforms prioritise when making recommendations.

So, if you’ve noticed a dip in leads lately or you simply want to boost your company’s visibility in the AI space, here are three strategies I strongly recommend.

Make your SEO plan AI-friendly

It’s no longer enough to optimise your company website for Google alone. Instead of short, Boolean-style search queries, people are now asking long-form, conversational questions. And in response, tools like ChatGPT are generating concise, curated answers drawn from a wide range of sources — with a clear preference for natural, human-sounding language.

It might seem ironic that AI prefers human content, but it’s the new reality.

To match this, we recommend rewriting key pages on your website, starting with your ‘About’, ‘Services’ and ‘Home’ pages, using language that mirrors how real people would ask for your services in everyday conversation.

For example, instead of writing: “We deliver integrated management solutions,” try: “We help Australian businesses develop management strategies that support sustainable growth”.

If relevant, start a blog that directly answers the kinds of questions people might be asking ChatGPT, and think carefully about how they’re asking them. Once you’ve mapped out your content strategy, commit to publishing consistently. AI platforms favour businesses that post regularly and demonstrate long-term authority in their field.

Prioritise earned media and content

AI tools place more weight on what others say about your business than what you say about yourself. So, while your website content is important, the next priority is securing earned media coverage. This includes article mentions in credible publications and thought leadership content in niche outlets relevant to your industry.

While the media landscape has evolved, organic coverage on high-authority platforms still carries serious influence. That includes local business media, trade publications, and long-form podcasts — especially those with strong digital footprints. A single mention in a well-respected outlet often holds more weight than a dozen paid ads in the eyes of AI.

You should also be submitting your business for awards, rankings, and “Best of” lists. Third-party recognition like “Top PR Agencies in Australia” or “Best Accountants in Melbourne” dramatically increases your chances of being recommended by AI tools for those search terms.

Lastly, make sure you’re actively collecting client testimonials and online reviews. Reach out to past and current clients and ask for a testimonial you can publish. Genuine, positive sentiment from others boosts your ranking and trust level within AI results.

Show up where conversations are happening

A lesser-known — but highly effective — way to improve your AI visibility is by showing up where your audience is already talking. Think Reddit, Quora, LinkedIn comments, Facebook groups, and even the comment sections of popular blogs or YouTube videos. AI tools are constantly crawling and learning from these conversations, and businesses that participate meaningfully often see a lift in visibility.

Start by choosing two or three platforms where your target audience is most active. If you’re B2B, this might be LinkedIn or industry forums. If you’re more consumer-facing, Reddit, TikTok, or Facebook might be the place. Jump in, answer questions, share your perspective, and most importantly, offer value.

When your brand is mentioned organically or involved in high-engagement threads, it sends strong signals to AI tools. Over time, this can help position your business as a credible authority in your space.

Also, respond to users who tag or mention your brand on social platforms. Engaging with user-generated content builds trust, encourages loyalty, and creates digital breadcrumbs that prove your relevance and responsiveness — two factors that AI prioritises more than ever.

AI isn’t just a trend; it’s a fundamental shift in how consumers discover and choose businesses.

Rather than fearing this new giant in the room, lean in. By understanding how AI platforms work and proactively shaping your digital footprint, you’ll improve your ability to attract quality leads, earn recommendations, and strengthen your brand presence in what’s becoming an increasingly competitive and complex market.

Source link

Business

Maternity brand Seraphine worn by Kate enters administration

Published

3 hours ago

July 7, 2025

Michael Race

The maternity fashion retailer Seraphine, whose clothes were worn by the Princess of Wales during her three pregnancies, has ceased trading and entered administration.

Consultancy firm Interpath confirmed to the BBC on Monday that it had been appointed as administrators by the company and that the “majority” of its 95 staff had been made redundant.

It said the brand had experienced “trading challenges” in recent times with sales being hit by “fragile consumer confidence”.

The fashion retailer was founded in 2002, but perhaps hit its peak when Catherine wore its maternity clothes on several occasions, leading to items quickly selling out.

Prior to the confirmation that administrators had been appointed, which was first reported by the Financial Times, Seraphine’s website was offering discounts on items as big as 60%. Its site now appears to be inaccessible to shoppers.

The main job of administration is to save the company, and administrators will try to rescue it by selling it, or parts of it. If that is not possible it will be closed down and all its saleable assets sold.

Will Wright, UK chief executive of Interpath, said economic challenges such as “rising costs and brittle consumer confidence” had proved “too challenging to overcome” for Seraphine.

Interpath said options are now being explored for the business and its assets, including the Seraphine brand.

The retailer’s flagship store was in Kensington High Street, London, but other well-known shops, such as John Lewis and Next, also stocked its goods.

The rise in popularity of Seraphine, driven in part by Royalty wearing its clothes, led to the company listing on the London Stock Exchange in 2021, before being taking back into private ownership in 2023.

Interpath said in April this year, the company “relaunched its brand identity, with a renewed focus on form, function and fit”.

“However, with pressure on cashflow continuing to mount, the directors of the business sought to undertake an accelerated review of their investment options, including exploring options for sale and refinance,” a statement said.

“Sadly, with no solvent options available, the directors then took the difficult decision to file for the appointment of administrators.”

Staff made redundant as a result of the company’s downfall are to be supported making claims to the redundancy payments service, Interpath added.

Source link

Business

Landmark day for victims as initial findings expected

Published

3 hours ago

July 7, 2025

Emma Simpson and Mitchell Labiak

Tuesday will mark another big milestone in the long road to justice for the victims of the Post Office IT scandal.

The chair of the inquiry into it – Sir Wyn Williams – will publish the first part of his final report, focusing on compensation and the human impact of the scandal.

Thousands of sub-postmasters were wrongly blamed for financial losses from the Post Office’s faulty Horizon computer system, which was developed by Fujitsu.

More than 900 people were prosecuted and 236 were sent to prison in what is believed to be one of the biggest miscarriages of justices in UK history.

Sir Wyn put those victims at the heart of the inquiry’s work, which has pored over several decades worth of technical evidence and grilled many of those who had a role in ruining so many lives.

Dozens of sub-postmasters gave evidence too – many who had lost their businesses, their homes and some who served prison sentences.

Sir Wyn’s findings on their treatment will surely be damning given everything he has heard since the inquiry began in 2022.

The inquiry became almost box office viewing – racking up more than 20 million views on YouTube, with people with no connection to the Post Office following it closely.

However, it is going to be months before we find out who Sir Wyn will point the finger of blame at.

That will come in part two of the report, meaning that accountability is still a long way off.

Sir Wyn has taken a big interest in compensation for the victims, admitting at one point that he’d stretched his terms of reference on the issue, “perhaps beyond breaking point”.

He held four separate hearings on redress and issued an interim report in 2023, likening the various schemes to a “patchwork quilt with a few holes in it”.

Victims and their legal representatives still battling to secure final payouts will be looking to see what his conclusions are on compensation and whether it is living up to the mantra of being full and fair.

They hope his recommendations will result in more action.

Still, you might be wondering why we’re only getting the first part of the final report.

Sir Wyn knows how pressing compensation is to many of the victims and that’s why he wants to publish his recommendations on the issue as soon as possible.

“It’s something I am very keen to say as much about as I reasonably can,” he told the inquiry last year.

But the implication from this is that part two – establishing what happened and who is to blame – isn’t coming out any time soon.

This second report may not be published until 2026 given the sheer volume and complexity of the evidence as well as the need to give those who are criticised the chance to respond.

As for justice, any criminal trials may not start until 2028. Police investigating the scandal confirmed last month that files won’t be handed to prosecutors until after the final inquiry report is published.

After years of waiting, even after part one of Sir Wyn’s report is published, the sub-postmasters’ long road to justice will continue.

Source link