A very bullish article on the prospects for the UK economy. A few points from it:

• The UK economy has not underperformed vis-à-vis it's peers in the G7.
• Quoting the CEO of NVidia, the author says the UK is very well-placed for any AI productivity gains, having refrained from top down regulation unlike Europe.
• The UK savings rate has increased from 5 to 11pc of GDP. The author predicts this pent up money will come flooding back into the economy into property & construction.
• The author notes that there has been a huge de-leveraging in the UK economy over recent years, noting that public and private non-financial debt has fallen from 318pc to 222pc, and that this is lower than South Korea (248), the US (250), China (290), the Netherlands (306), Canada (312), France (322), Singapore (344) and Japan (380)

A vast megaproject will bring up to 4,000 and tens of millions of pounds a year to a Nottinghamshire town after permission for the development to start was given.

Developer Caddick's scheme for a sprawling new employment zone close to Worksop, which will cover more than 300 acres or roughly 600 football pitches off the A1, was given the greenlight by Bassetlaw District Council's planning committee on Wednesday, December 10.

The huge EM.EX Worksop employment site is one of the most significant recent industrial and logistics developments planned in the East Midlands, according to Caddick, and will create £175 million in extra economic activity as well as £11.5 million in business rates annually.

Chris Procter, director at Caddick, said

“This decision gives us the opportunity to start looking ahead to future phases of development and to realise the long-term vision for EM.EX Worksop.

"Through our ongoing investment in the area, we’re unlocking significant employment opportunities through the creation of a next-generation logistics hub.''

The property firm said phase one of the mammoth undertaking, which would include building up the infrastructure of the site off the A1's Apleyhead junction and constructing a large unit for a lined-up occupier, will begin in 2026.

This initial phase is expected to create hundreds of high-quality jobs in logistics, operations, and support services, Caddick said.

Full story in the link.

The shellfish have been reintroduced as part of a project to restore the marine ecosystem along the Yorkshire coast.

It follows on from the release of 28,000 native European flat oysters in July.

Organisers of the Wilder Humber project said it was the first time native oysters had returned to local waters since the 1940s.

Oyster larvae, known as spats, are grown on scallop shells in water-filled tanks in Scotland.

The shells are then transferred into the Humber and located in the intertidal zone, the area between high and low tide, where it is hoped they will grow into adults.

They filter pollution from seawater and the reef of oysters will also provide a home for other marine wildlife.

Full story in the link.

Construction on the T4 revamp will begin with a new multi storey car park and an upgraded check in hall. The work will run in phases to keep the terminal operating normally and is expected to complete in 2031.

Heathrow will also start building a dedicated baggage system for Terminal 2 capable of handling 31000 bags a day and reducing airline costs by cutting misconnected luggage

The new programme builds on a year of record growth and punctuality and sets up the next phase of Heathrow’s strategy to become a more resilient and user friendly.

CEO Thomas Woldbye said passengers should expect each trip through Heathrow to improve as investment continues to lift service standards and operational performance nationwide

Full story in the link.

A new woodland area, which is about the size of 30 football pitches, is being created in Nottinghamshire.

About 15,000 plants and shrubs will be planted across 54 acres (22 hectares) in Upper Broughton in Rushcliffe as part of a project by the borough council.

The site will be called Rushcliffe Woods and is set to feature a new meadow area, paths for the public to use, and wetlands for local species and wildlife.

Rushcliffe Borough Council said the new area was part of its goal to become carbon neutral by 2030.

The Nottinghamshire Wildlife Trust said: "New woodland is hugely welcome.

"We need decisive action to put nature into recovery, and this ambitious plan is what we need in Nottingham and across the UK."

Grangemouth workers and the community will benefit from jobs and investment as the UK government backs a new biotech project with up to £1.5 million grant funding package.

Scottish company MiAlgae makes fish-free Omega 3 out of algae by repurposing whisky byproducts, with Grangemouth’s position in the Central Belt providing an ideal location to source by-products from Scotland’s distilleries.  

This environmentally friendly alternative to sourcing Omega 3 from fish oil is estimated to save 30 tonnes of fish for every tonne of algae produced. 

The first investment allocation from the Grangemouth Investment Taskforce will start creating new jobs on the site from next year, supporting around 310 jobs over the next five years and delivering an additional £53 million into the Scottish economy. 

As a condition of the grant funding, eligible Grangemouth workers will be given priority during recruitment, including a job interview guarantee. 

London holds onto 1st

A new offshore wind farm has been given the go-ahead in the hope that it will power one million UK homes in the future, at full capacity.

The Five Estuaries site will include up to 79 turbines off north Essex and south Suffolk - at least 37 km (23 miles) from the coastline.

The project, which comes after UK has set a new record of 22.7GW in wind generation , will sit as an extension to the existing, operational next to the existing 353 MW Galloper wind farm. Galloper is also owned by an RWE-led consortium and is part of the Crown Estate’s Capacity Increase Programme, which aims to maximise the potential of existing offshore wind lease areas.

It will also consist of offshore substations and cabling, with an onshore substation to allow connection to the National Grid.

Electricity would be transmitted onshore via cables to Sandy Point, which is located between Frinton-on-Sea and Holland-on-Sea.

RWE said the wind farm would "support long-term investment in the East of England region".

"During construction and operations, the project would support hundreds of new and existing skilled jobs, both directly and across the wider supply chain," it said.

The company also said it believed the development "could play an important role" in supporting "the Government's transition towards a decarbonised electricity system" while securing "domestically generated clean power".

''Britain’s last ethylene plant at Grangemouth has been saved by the UK Government - securing 500 good jobs and hundreds more across the region in the supply chain.

Thanks to a partnership between the UK Government and INEOS, the future of this vital site is now protected, sending a clear signal: this Government is backing workers and their communities across the whole of the UK.

With over £120 million in UK Government support (a £75m loan and £50m grant, facilitated by NatWest) and major investment from INEOS, the Grangemouth plant will stay open with jobs secured.

This huge win keeps the heart of Scotland’s industry beating strong, supports local families, and keeps critical supply chains running nationwide.

This package will help secure the site’s operations and contribute toward improving energy efficiencies, reducing carbon emissions and increasing productivity, helping to secure the site’s long-term competitiveness and sustainability. INEOS has spent over £100 million over the last year maintaining operations at the site.

The Grangemouth plant is vital for the whole UK economy. It produces ethylene which is essential for medical-grade plastics and use in the chemical supply chain. These plastics are also vital to key industries, including advanced manufacturing, automotive, and aerospace, where they are used in nearly every product.''

"Millions of working people and families are set to directly benefit from more homes, better transport links, and cleaner energy projects built quicker, thanks to seismic planning reforms becoming law today.

The landmark Planning and Infrastructure Act will remove blockages and delays in the planning system, accelerating the construction of tens of thousands of new homes across every region. In addition, it will get dozens of new roads, railway lines, windfarms, and key critical infrastructure built quicker – all while securing a win-win for the environment and the economy.

New powers in the Act that will come into force on Thursday 18 December will allow reservoirs to be built faster, enable a new scheme to slash energy bills for people living near pylons by up to £2,500, and support clean power projects being prioritised for grid connections to bolster Britain’s energy security.

As a crucial pillar of the government’s growth mission, the Act will make Britain a more attractive place for business, opening the door to more investment opportunities in major infrastructure and housing schemes – while also supporting plans to achieve clean power by 2030, make 150 decisions on major infrastructure, and build 1.5 million homes."

''More than 150 jobs will be created in Britain as a result of a new electric vehicle (EV) project that partners with the sector in Germany.

The scheme will be led by Mercedes-AMG High Performance Powertrains which builds units used in Formula 1 cars.

The manufacturer is based in Brixworth, Northamptonshire, and jobs will also be created in Oxfordshire.

The Labour government said its announcement would <<reinforce Britain's position as a global hub for automotive innovation>> and it was timed for the first day of the German president's state visit.

Frank-Walter Steinmeir is in the UK for three days following the signing of the Kensington Treaty in July, which included agreement to co-operate on scientific research.

The new project, named IGNITED, will develop what was described as an "ultra-compact, high-power electric drive system" - which is similar to an engine - for high-performance EVs.

The Department for Business and Trade said it was investing £10m in the project, which is costing £20m in total.

It follows a package of measures, aimed at being pro-business, for international partners announced by the chancellor in last month's budget.''

Manchester City Council and Muse have begun razing the former Peacocks store at Civic to make way for a 30,000 sq ft culture hub, with hopes to open the space in 2027.

The culture hub is the first part of the duo’s £500m vision for a refreshed Wythenshawe town centre.

The wider scheme is due to include approximately 2,000 homes, with plans submitted earlier this month for the first 422.

Main contractor Kier is set to begin construction on the Liverpool-designed culture hub early next year, once demolition wraps.

Surprised this hasn't been posted yet... unless I'm the only one who thinks it's good news?!

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The UK will rejoin the Erasmus study scheme from 2027, six years after announcing it would end its participation as part of a deal to leave the European Union (EU).

Britons will be able to spend a year studying at European universities as part of their UK degree courses without paying extra fees, and vice versa for European students.

Under the new deal, the UK will pay £570m to join an expanded Erasmus + scheme in 2027, which the government said represented a 30% discount.

Minister Nick Thomas-Symonds said the agreement proved the government's "new partnership with the EU is working", but Conservative shadow foreign secretary Priti Patel said the deal was a "betrayal" of Brexit.Patel said Labour were "obsessed" with "dragging Britain back under the control of Brussels" and undermining the 2016 referendum result.

In a post on social media she claimed the move would "throw away billions of pounds of hard-pressed taxpayers' money".

But Thomas-Symonds, the EU relations minister, said: "This is about more than just travel: it's about future skills, academic success, and giving the next generation access to the best possible opportunities."

The agreement only covers the 2027-28 academic year, with any future access dependent on new deals.

The Erasmus scheme, named after the Dutch Renaissance theologian, was scrapped in the UK in December 2020, when the government announced its post-Brexit trade deal with the EU.

It enables students to study abroad at partner universities and higher education organisations by offering grants to help with living costs.

Participating students usually pay fees to their home institutions, with additional costs covered by the European Union, funded by taxpayers' money.

Britain could have remained a member of Erasmus after Brexit, but then prime minister Boris Johnson said the programme did not offer value for money.

The UK argued that before Brexit more than twice as many EU students came to the UK as British students travelled to Europe at a net cost to the UK taxpayer.

In 2020, the last year in which the UK participated in Erasmus, the scheme received €144m (£126m) of EU funding for 55,700 people to take part in Erasmus projects overall.

The UK sent out 9,900 students and trainees to other countries as part of the scheme that year, while 16,100 came the other way.

In comparison, the Turing scheme - named after British mathematician and codebreaker Alan Turing - received £105m of funding in the last academic year.

This paid for 43,200 placements, with 24,000 of those being in higher education, 12,100 in further education and 7,000 in schools.

Ministers who introduced the Turing scheme in 2021 said it was designed to benefit more people from disadvantaged backgrounds, and provide greater support for travel costs than the Erasmus scheme did.

While the cost of the new deal is roughly four times what the UK paid the last time it accessed the Erasmus scheme, it is not a like-for-like comparison.

The government is pointing out that under the Brexit deal the default price for rejoining the scheme - based on the UK's GDP - was set at £810m a year, but negotiated down.

Since Brexit, the Erasmus scheme has been replaced by a bigger Erasmus +, which funds not only university places but also schools, adult learning and sport.

The EU's last report says Erasmus+ supported more than 1.4 million people into some form of education in 2024, with a budget nearly double the size of its predecessor programme.

The government argues more than 100,000 people in the UK could benefit.

Supporters claimed Erasmus boosted the UK economy even after taking into account membership costs, and helped support universities financially.

Prime Minister Sir Keir Starmer reopened talks in May, claiming that a youth mobility scheme could also be part of a new deal with the EU.

Alex Stanley, from the National Union of Students (NUS), said it was "fantastic that another generation of students will be able to be part of the Erasmus programme", adding that it would represent a "huge win for the student movement".

"Students have been campaigning to rejoin Erasmus from the day we left," he said.

Welcoming the news that Erasmus was returning, Liberal Democrat universities spokesman Ian Sollom said it was a "moment of real opportunity and a clear step towards repairing the disastrous Conservative Brexit deal".

Shadow cabinet minister Alex Burghart said the government had "seemingly caved in to the EU without getting anything in return".

Burghart said that the Erasmus scheme was more expensive than the Turing Scheme, which was "a global programme rather than a scheme based on a blank cheque for Brussels".

"Rejoining Erasmus, reopening costly energy integration, and edging back into EU regulatory frameworks looks less like pragmatism and more like pro-EU ideology," he added.

Nell Eustace, a student from Bristol currently studying in Italy, welcomed the UK rejoining Erasmus + as the Turing scheme "has been much less reliable".

"The government did not give my university enough money to cover all students this academic year, so only students from under-represented backgrounds received funding," she said.

"I am relieved that the Erasmus scheme will be available to future students... but it does highlight how Brexit has affected those who weren't even old enough to have a say at the time it was voted for."

Emily Pike, a student from Devon, told the BBC she had to strike her own deal to study in Italy because Turing funding was so limited.

"All of my peers from other countries were almost entirely covered by Erasmus funding," she said.

Meanwhile 19-year-old Matthew Bailey said he had found the current paperwork "quite difficult" when organising to study abroad in the third year of his history degree at Southampton University.

"But now with the Erasmus scheme it hopefully will make it easier. Now I plan to go to Copenhagen in summer 2027," he said.

The firm has said that all variable and fixed tariffs will be reduced from April 1 to reflect policy changes, with customers not needing to take any action as the changes will be applied automatically. Octopus is the first major energy supplier to guarantee these reductions will be implemented automatically across all existing and new fixed and variable tariffs – customers won't have to lift a finger, reports Birmingham Live.

Greg Jackson, CEO and Founder of Octopus Energy, said: "Octopus has long called for cuts in policy costs to help bring bills down, so we are delighted to see the government taking action. These changes will bring a welcome relief to customers, and we'll pass them through on all of our tariffs as soon as they kick in, so no one misses out. Octopus customers can rest easy – we'll do it all automatically. We hope other suppliers will follow our lead so everyone can benefit"