It's Time For UK Politicians To Tackle The Triple Lock
Welcome to the award-winning Money Distilled newsletter. I'm John Stepek. Every week day I look at the biggest stories in markets and economics, and explain what it all means for your money.
Yesterday, we had a look at why a lack of political will means the UK's debt trajectory will likely get worse until someone (financial markets mostly) forces the issue.
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New York Times
29 minutes ago
- New York Times
Independent English football regulator given green light by MPs
The bill to introduce English football's first independent regulator was approved in the House of Commons on Tuesday by a majority of 415 votes in favour to 98 against, making its passage into law this summer a formality. In a lively third reading of the bill, the Secretary of State for Culture, Media and Sport Lisa Nandy and sports minister Stephanie Peacock said football fans had waited long enough for a government to protect clubs from rogue owners. They also poked fun at the opposition benches for the Conservative Party's U-turn on independent regulation, despite their active support for the idea when they were in government, and pointed out that politicians from all parties had been talking about this for more than a decade. Advertisement 'We are doing this for you, the best fans in the world,' Nandy told a well-attended debate. 'For too long you've been treated as an afterthought, at best, and a nuisance, at worst, in a game that's only great because of you.' She then said the bill was for the supporters of clubs that have either gone bust, such as Bury and Macclesfield, or have got very close to the precipice, such as Wigan, Bolton, Derby, Reading, Sheffield Wednesday and Morecambe, the National League side that faces a very uncertain future as a proposed takeover is being held up by their current owner. While the vote was another resounding victory for the government on this bill's passage through parliament, the shadow sports minister Louie French did not go down without swinging. The Conservative MP for Old Bexley and Sidcup repeatedly accused the government of risking English football's financial health by 'replacing the risk of irresponsible owners with reckless political interference', saying the regulator would tie clubs up in red tape and had too much power. French also clashed with Nandy over his claim that the government's choice to chair the independent regulatory, veteran media executive and Labour Party donor David Kogan, was a 'government crony'. Nandy hit back hard at this line of attack, noting that Kogan's name was on a long list of candidates she inherited from the last Conservative government, which included a Conservative Party donor, and that Kogan had been appointed to chair public broadcaster Channel 4 by the Conservatives. But she was warned by the speaker of the house for suggesting that French was displaying 'staggering hypocrisy', as that would be 'unparliamentary language'. French, however, did attempt to add an amendment to the bill that would have ended the ban on fans being allowed to drink alcohol within sight of the pitch in the top five tiers of men's football in England. The amendment was defeated by 178 votes in support to 338 against. Advertisement The government's stance on this idea is more nuanced than the vote would suggest, however. In fact, the last government approved a pilot scheme to test if alcohol could be made as available at football games as it is at cricket, rugby and all other sports, as well music events held at football stadiums. Those pilots did not happen, though, and the Labour government is keen to push on with them. The Liberal Democrats also proposed an amendment to the bill that would have seen 10 Premier League games a season ring-fenced for broadcast on free-to-air channels, plus the League Cup final and all of the EFL's play-off finals. While this idea would undoubtedly be a crowd-pleaser, it would also almost certainly scupper English football's business model, which is highly dependent on the large fees it receives from the likes of Sky Sports and TNT Sports in return for exclusive live rights. It is also hard to think of a better example of the type of government interference that the bill's critics, most notably the Premier League, have been warning against. As a result, the government did not support the Liberal Democrat idea and it was defeated by 340 votes to 86. The bill, without these two defeated amendments, now goes back to the House of Lords for its consent to the small number of changes the House of Commons did make to the original draft, which should be quickly nodded through, leaving only the final formality of royal assent before it becomes law. After such a smooth passage through parliament, the government is confident this will happen before Westminster's summer recess, which starts 22 July.
Hamilton Spectator
33 minutes ago
- Hamilton Spectator
New Paint Facility at Bombardier's London Biggin Hill Service Centre Progressing to Plan as Structure Takes Shape
MONTREAL, July 08, 2025 (GLOBE NEWSWIRE) — Bombardier announced today that the development of a new 51,000 sq. ft. paint facility at the London Biggin Hill Service Centre is progressing in earnest with several key processes completed, including ground stabilization and foundation work on the hangar. The hangar steel framework continues to progress and the cladding works have also commenced. Bromley and Biggin Hill Member of Parliament, Peter Fortune, visited the London Biggin Hill Service Centre on July 4, which provided him with a closer look at the exceptional aerospace expertise at the service centre and the development of its most recent expansion. Bombardier's new two-bay paint facility is expected to employ more than 50 skilled paint technicians and will be the perfect complement to the close to 250,000 sq. ft. service facility, which is fully equipped to perform scheduled and unscheduled maintenance, modifications and avionics installations for Bombardier Global , Challenger and Learjet aircraft. With a targeted completion date in the second half of 2026, the new paint facility will add to the centre's comprehensive service options, ensuring Bombardier's customers have a top-tier option for all their paint needs. 'The addition of the new paint facility at the London Biggin Hill Airport adds a sought-after service element to the already comprehensive offerings for our customers, ensuring they have a complete maintenance experience to help keep their aircraft in the air,' said Sander Podgoric, General Manager of the London Biggin Hill Service Centre. 'The London Biggin Hill Service Centre brings hundreds of high-paying jobs to Bromley and Biggin Hill County. We are delighted to showcase this important facility to Bromley and Biggin Hill Member of Parliament, Peter Fortune, building on our shared vision of producing high-paying jobs in the region.' 'It was incredible to see behind-the-scenes at Bombardier's state of the art engineering facility. It is a great benefit for the borough to have a multinational company like Bombardier set their European flagship service facility here,' said Peter Fortune, Bromley and Biggin Hill Member of Parliament. 'It is exciting to see their commitment to developing in Bromley with the construction of their new paint facility, creating more local jobs and opportunities, and speaks volumes for the fantastic job that London Biggin Hill Airport does attracting inward investment to the region.' Inaugurated in 2017 and expanded in 2022 to nearly 250,000 sq. ft., the Bombardier Biggin Hill service centre serves as an important economic driver at the London Biggin Hill Airport and the London Borough of Bromley. It is a shining example of how Bombardier continues to enhance the accessibility of its OEM expertise for customers worldwide, redefining its position as a leader in service and support capabilities. The addition of the new paint facility isn't the only new development at the service centre.. In 2024, Bombardier and F/LIST announced the opening of a contemporary 700-sq. ft. material lounge to provide customers with access to the largest, most comprehensive portfolio of interior materials housed at one of its international service centres. Bombardier also announced last year the addition of more than 3,000 solar panels on the roof of the service centre and a new line maintenance station at the nearby Farnborough Airport providing light scheduled and unscheduled maintenance as well as Aircraft on Ground (AOG) support. About Bombardier At Bombardier ( we design, build, modify and maintain the world's best-performing aircraft for the world's most discerning people and businesses, governments and militaries. That means not simply exceeding standards, but understanding customers well enough to anticipate their unspoken needs. For them, we are committed to pioneering the future of aviation—innovating to make flying more reliable, efficient and sustainable. And we are passionate about delivering unrivaled craftsmanship and care, giving our customers greater confidence and the elevated experience they deserve and expect. Because people who shape the world will always need the most productive and responsible ways to move through it. Bombardier customers operate a fleet of more than 5,100 aircraft, supported by a vast network of Bombardier team members worldwide and 10 service facilities across six countries. Bombardier's performance-leading jets are proudly manufactured in aerostructure, assembly and completion facilities in Canada, the United States and Mexico. In 2024, Bombardier was honoured with the prestigious 'Red Dot: Best of the Best' award for Brands and Communication Design. For Information For corporate news and information, including Bombardier's Sustainability report, as well as the company's plans to cover all its flight operations with a Sustainable Aviation Fuel (SAF) blend utilizing the Book and Claim system visit . Learn more about Bombardier's industry-leading products and customer service network at . Follow us on X @Bombardier. Media Contacts General media contact webform Mark Masluch +1-514-855-7167 M Bombardier, Learjet, Challenger and Global are registered or unregistered trademarks of Bombardier Inc. or its subsidiaries. Forward-looking statement This press release contains certain forward-looking statements. By their nature, forward-looking statements require the Corporation to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause actual results in future periods to differ materially from those set forth in the forward-looking statements. Please refer to the 'Forward-Looking Statements' disclaimer contained in Bombardier Inc.'s most recently published financial report for additional details. A photo accompanying this announcement is available at:
Yahoo
an hour ago
- Yahoo
King speaks of UK and France's deepening co-operation amid ‘profound challenges'
The King has spoken of the deepening co-operation between the UK and France that will protect against 'profound challenges' such as terrorism, organised crime and 'irregular migration' across the English Channel. In a speech marking President Emmanuel Macron's three-day state visit to the UK, Charles highlighted a summit between Prime Minister Sir Keir Starmer and the French leader when commentators expect the issue of small boats to be top of the agenda. The King also spoke of the growing environmental threat where the 'very future of our planet hangs in the balance' and the UK and France have a 'critical role to play'. Charles's comments were made at a Windsor Castle state banquet where Sir Mick Jagger and fiancee Melanie Hamrick were among the guests alongside Sir Elton John and husband David Furnish and actress Dame Kristin Scott Thomas. The King told the guests, who included the Queen, the Prince and Princess of Wales, the Prime Minister and senior members of the Cabinet: 'Monsieur le President, the summit that you and the Prime Minister will hold in London this week will deepen our alliance and broaden our partnership still further. 'Our armed forces will co-operate even more closely across the world, including to support Ukraine, as we join together in leading a Coalition of the Willing in defence of liberty and freedom from oppression; in other words, in defence of our shared values.' He went on to say: 'Our security services and police will go further still to protect us against the profound challenges of terrorism, organised crime, cyber attacks and of course irregular migration across the English Channel. 'And our businesses will innovate together, generating growth, trade and investment for our economies and across the world.' Earlier in a speech to MPs and peers, Mr Macron promised to deliver on measures to cut the number of migrants crossing the English Channel, describing the issue as a 'burden' to both countries. He told the gathering in Parliament: 'France and the UK have a shared responsibility to address irregular migration with humanity, solidarity and fairness.' Decisions at Thursday's UK-France summit will 'respond to our aims for co-operation and tangible results on these major issues'. In his speech Charles described the UK's closest continental neighbour as 'one of our strongest allies' and said in the face of 'complex threats' France and Britain 'must help to lead the way'. There were lighter moments, with the King joking about the popular French cartoon character Asterix the Gaul's incomprehension about Britons' love of tea with a splash of milk, and how dinner guests had drunk 'English sparkling wine made by a French Champagne house'. And he described the 'perfect combinations' of French and British – Monet's paintings of London fog and Thierry Henry, a former French striker with London football club Arsenal, scoring at Highbury. The French president even winked at the King when Charles mentioned the cultural ties between the UK and France and how a Frenchman, William the Conqueror, began building Windsor Castle more than 900 years ago and his son William has made Windsor his home. The Duke and Duchess of Edinburgh and the Princess Royal and her husband Vice Admiral Sir Tim Laurence were also among the guests, as were former England goalkeeper Mary Earps, who now plays for Paris Saint-Germain, authors Joanne Harris and Sebastian Faulks and sculptor Sir Antony Gormley.
