UK seeks to transform town centres with new cafés and bars
The introduction of a new National Licensing Policy Framework is expected to reduce the cost and complexity associated with opening and operating hospitality venues.
The initiative aims to aid small businesses and foster community reconnection.
The reforms are designed to simplify the conversion of disused shops while protecting established pubs, clubs and music venues from noise complaints by new developments.
The government is planning to incorporate the "agent of change" principle into national planning and licensing policy, requiring developers to soundproof buildings near existing nightlife spots.
Plans are in place to create dedicated hospitality zones where permissions for outdoor dining, street parties and extended opening hours will be expedited.
The new framework will offer a streamlined and standardised process for securing planning permission and licences, eliminating the varied local regulations that currently hinder small business ventures.
Entrepreneurs will benefit from a reduction in hurdles, leading to quicker decisions and lower costs when transforming empty shops into bars, cafés or music venues.
This transformation is part of the High Street Rental Auction Scheme, which enables councils to auction leases for commercial properties vacant for longer than a year. The scheme is intended to repurpose empty shops into lively community hubs.
Business and Trade Secretary Jonathan Reynolds stated: 'This government has a plan to replace shuttered-up shops with vibrant places to socialise, turning them into thriving cafés or busy bars, which supports local jobs and gives people a place to get together and catch up over a beer or a coffee.
'From faster café openings to easier alfresco dining, our Plan for Change will put the buzz back into our town centres and money back into the pockets of local entrepreneurs, because when small businesses thrive, communities come alive.'
In July 2025, the government announced plans to pilot a state-subsidised restaurant in Dundee to offer underprivileged families access to wholesome meals within a social setting.
"UK seeks to transform town centres with new cafés and bars" was originally created and published by Verdict Food Service, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
6 hours ago
- Yahoo
Innovations in Stablecoins 2025: New GlobalData report alert
The US and UK are recording the fastest growths in crypto penetration in 2025, because of the sector's increased mainstream promotion and supportive institutional and regulatory sentiment in the West. Although still lagging many emerging economies, the US's crypto product holding rate increased to 23.5% in 2025, while UK holding nearly doubled to 18% from 10% last year, according to the annual Financial Services Consumer Survey by GlobalData, publishers of RBI. GlobalData's latest report, 'Innovation in Stablecoins 2025', reveals that while these fixed-value digital assets (stablecoins) will inevitably disrupt the payment space in the future, for now just a third of global crypto holders are paying for goods and services with cryptocurrencies, while only 17% are using them for P2P transfers. With growing regulation as well as institutional and retail interest, the most pressing challenge for wider adoption today is stablecoins' interoperability with traditional currencies and payment rails. Retail costs related to on- and off-ramping between fiats and digital currencies are still higher or at par with existing money movement methods, which outweighs stablecoins' benefits for small-scale transactions, until exiting the DeFi ecosystem (i.e., off-ramping) is required. Scale: the real utility of stablecoins Blandina Szalay, Banking & Payments Analyst at GlobalData, comments: 'The real utility of stablecoins today is in scale. So-called stablecoin sandwiches bring about numerous benefits for large cross-border institutional transfers. Converting a fiat to stablecoin then back to another fiat currency can circumvent the inflated foreign exchange fees of correspondent banking—a key source of TradFi institutions' income still.' The other key benefit on the institutional side lies with the virtually limitless real-time movement of funds facilitated by blockchain. Unlocking this instantaneous liquidity largely improves cash flow management, in contrast to the traditional settlement times of 2–5 business days. There is further potential to profit from funds moving freely overnight and weekends, to leverage the highest-yielding money market opportunities. Local liquidity challenges-especially in emerging markets Szalay continues: 'Beyond these benefits, local liquidity poses challenges too, specifically in emerging markets, where retail demand for stablecoins is also the strongest. Despite all benefits of a stablecoin transfer, off-ramping coins to some local emerging market currencies is challenging, so the tokenisation of non-reserve currencies is expected to fold out soon, to mark a next step in the global stablecoin push.' On the retail front, stablecoins promise democratised access to financial services and the US dollar for anyone around the world. Beyond payments players, large and small banks are now attempting to jump on the stablecoin train too—currently driven by crypto-native first movers—in fears over funds disintermediation. Szalay concludes: 'Stablecoins sit in a very interesting position in between TradFi and DeFi. While the underlying blockchain technology will be able to create unprecedented benefits in the future of financial services, stablecoins have clearly parted with the original founding ideology of cryptocurrencies, as the ever-stronger involvement of state regulators and traditional financial institutions in this space shows. "Innovations in Stablecoins 2025: New GlobalData report alert" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
7 hours ago
- Yahoo
UK car market down 5% in July
The UK new car market was down in July by 5.0% on last year, to 140,154 units, according to figures published by the Society of Motor Manufacturers and Traders (SMMT). The performance was the weakest for the month since 2022 and some 10.8% lower than in pre-pandemic 2019, demonstrating the market's volatility and a weak economic backdrop. Switch Auto Insurance and Save Today! The Insurance Savings You Expect Affordable Auto Insurance, Customized for You Great Rates and Award-Winning Service Demand from private and fleet buyers fell 3.2% and 6.5% to 51,646 and 85,594 units respectively, while registrations in the much smaller business sector climbed 10.4% to 2,914 units. Declines were seen across most segments, with only Dual Purpose, Mini and Luxury Saloon models recording growth. GlobalData expects the UK car market to register around 1.96m units in 2025. GlobalData says the forecast is subject to risks. GlobalData analyst Jonathon Poskitt says the UK car market outlook remains challenging due to several headwinds. 'The mood is somewhat cautious on the outlook,' he says. 'There is a tightening of fiscal policy in prospect as well as the lagged effects of previous interest rate hikes, and the adverse impact of recent US tariffs – albeit mitigated by the US-UK trade deal.' 'One positive development is the rise in sales of electrified vehicles and pending government grants for BEVs as well as generally still heavy manufacturer incentives aimed at BEVs,' Poskitt points out. Bucking the wider market performance, registrations of plug-in hybrid electric vehicles (PHEVs) rose 33.0% and battery electric vehicles (BEVs) 9.1% in July, although the latter is modest in comparison with the 34.6% increase recorded for the first half of 2025. July was the second weakest month of BEV growth this year, after April's tax changes distorted the market in that month. The newly announced Electric Car Grant (ECG) provides a much-needed fiscal incentive for BEV uptake, but full model eligibility has yet to be confirmed, causing some buyers to hold off pending confirmation of which vehicles will qualify for a discount of up to £3,750. BEV market share reached 21.3%, up from 18.5% in the same month last year, but remains short of the 28% required by the ZEV Mandate, demonstrating the importance of accelerating uptake over the remainder of the year. Hybrid electric vehicle (HEV) transactions declined 10.0% to 18,551 units while combined petrol and diesel deliveries fell -14.0% to 74,289 units, but still accounted for more than half (53.0%) of July's market. Year-to-date, the overall new car market remains up 2.4% at 1.18m units, including more than a quarter of a million BEVs. The SMMT said July's decline is expected to be temporary, with the latest market outlook – undertaken before eligible ECG models were confirmed. Mike Hawes, SMMT Chief Executive, said: 'July's dip shows yet again the new car market's sensitivity to external factors, and the pressing need for consumer certainty. Confirming which models qualify for the new EV grant, alongside compelling manufacturer discounts on a huge choice of exciting new vehicles, should send a strong signal to buyers that now is the time to switch. That would mean increased demand for the rest of this year and into next, which is good news for the industry, car buyers and our environmental ambitions.' "UK car market down 5% in July" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 hours ago
- Yahoo
US-China tensions offer new opportunity for APAC biotechs, report suggests
Investors are increasingly focused on biotech companies outside of China operating in the Asia-Pacific (APAC) market, according to a report by management consulting firm Bain & Company. Homing in on Singapore specifically, the report states that rising players within the APAC region are drawing in investors through their political neutrality, protection of intellectual property (IP) and strong healthcare infrastructure. This trend is further driven by continued investment by the Singaporean Government, which has handed out $25bn in early-stage funding between 2021 and 2025 through its Research Innovation and Enterprise 2025 (RIE2025) scheme. Singapore is also aiming to bridge the gap between academia and industry through its A*STAR scheme, which is designed to encourage the translation of research into commercially viable drugs. These initiatives are designed to de-risk the early-stage development process, laying the foundations for future venture capital investment. Changing tides in the biotech sector The 2020s have been a tough period for the biotech industry, with many companies failing to obtain funding amid growing geopolitical instability and a sharpened investor focus on late-stage therapies. However, things may be looking up for the sector, with a GlobalData report finding that biotech companies obtained $8.52bn in 2024 through initial public offerings (IPOs) — a marked increase from the $5.06bn raised in 2023. Though the US and China continue to dominate the market, rising tensions between the nations could shift the balance towards politically neutral and stable nations, stated Alison Labya, senior pharma business fundamentals analyst at GlobalData. Labya said: 'Singapore's alignment with international pharmaceutical standards reduces legal and regulatory risk, increasing investor confidence in the commercial potential of innovative drugs." As the US continues to face geopolitical uncertainty, NIH funding cuts and mass regulatory layoffs, Labya noted that APAC players — particularly Singapore — are emerging as attractive alternatives for biotech investors, offering a more stable environment conducive to bringing drugs to market. Biotech's future moving forward Even amidst the growing geopolitical tensions between the US and China, Labya stated that China will likely remain the dominant force in Asian biotech. 'China remains resilient in the face of Trump's trade war, notably retaliating with 125% tariffs on US goods in April 2025,' Labya commented. Through this response, both countries reduced their import tariff rates, highlighting China's capacity to influence trade and policy outcomes. Large pharma has also continued to engage with the Chinese biotech market, with 28% of innovator drugs now being picked up from the nation, according to a report from GlobalData. For APAC countries such as Singapore to compete with China, Labya noted that biotechs in the region must penetrate the US and EU, requiring expertise into the FDA and EMA's regulatory frameworks, as well as the development of international partnerships. "US-China tensions offer new opportunity for APAC biotechs, report suggests" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
