Drax

We welcome the first Memorandum of Understanding reached between the UK and a US state - the Hoosier state - Indiana. Traders in the UK will hope this is the first stage in a process, with both State Houses and the US Federal Government, that leads to a clear boost to UK exports.

The sheer scale of the cost-of living crisis facing the British public means the Government is absolutely right to provide additional support to those worst affected. For business, the toxic mix of inflation, raw material costs and supply chain disruption is the flip-side of the coin to the problems facing consumers. Unless steps are also taken to ease business costs, they will likely feed into the inflationary pressure on the economy and quickly eat into the financial support announced today.

The BCC is urging negotiators to set an ambitious new agreement that focuses on the growing market in green trade, as well as future proofing access for further expansion in services.

Four out of five employers (81%) say they have been impacted by the increase in national insurance contributions Higher prices, reduced investment and increased staff costs were among the main effects cited