Skip to content
Search

Latest Stories

Johnson vows 'long overdue' revamp of UK's post-Brexit economy

Johnson vows 'long overdue' revamp of UK's post-Brexit economy

British prime minister Boris Johnson rallied his Conservative party faithful on Wednesday (6), vowing a far-reaching overhaul to wean the UK economy off cheap foreign labour after Brexit.

Shrugging off panic buying at petrol stations, bare supermarket shelves and retailers' warnings of a bleak Christmas to come, the Tory leader said the short-term pain was worth it.


Closing the Conservatives' annual conference, their first in-person event since 2019 because of the coronavirus pandemic, Johnson was on characteristically bullish form with an array of partisan zingers hurled against the opposition Labour party.

There was little new policy detail in the 45-minute speech, save for a "levelling up" premium to recruit maths and science teachers in disadvantaged areas, and promises of a new programme of road and rail infrastructure in Labour's former stronghold in northern England.

- 'Change of direction' -

More broadly, Johnson framed a narrative that the UK's departure from the European Union presents a historic opportunity to remake the country.

"We are dealing with the biggest underlying issues of our economy and society, the problems that no government has had the guts to tackle before," he said.

"We are embarking now on the change of direction that has been long overdue in the UK economy," he added, vowing no return to the pre-Brexit model of "uncontrolled immigration".

Instead, British businesses will have to invest in their workers and technology to push the country "towards a high-wage, high-skill, high-productivity economy".

But Johnson warned it will take time to transition.

In the meantime, the government has grudgingly agreed to a limited number of short-term visas to lure truckers and poultry workers from eastern Europe.

For opposition parties and poverty campaigners, Johnson's commitment to "levelling up" unequal growth also jars with the ending of a weekly boost to benefits for the lowest-paid workers.

Johnson's attempt to draw a line between his administration and previous governments which lacked "guts" overlooks the fact that the Conservative party has been in power since 2010.

In contrast, chancellor Rishi Sunak -- seen by many observers as the heir apparent to 10 Downing Street -- is stressing continuity with the Tory tradition of fiscal rectitude.

Sunak featured prominently in a pre-speech video played to the Conservative members awaiting Johnson's speech, and he has been mobbed by fans at this week's conference in Manchester, northern England.

- Muted on climate -

The government blames the acute labour shortages afflicting the UK economy not on its hardline approach to Brexit but on the coronavirus pandemic.

But the supply crisis risks undermining themes that Johnson emphasised in his conference speech, including "Global Britain" after the EU divorce.

He touted a new defence alliance with Australia and the United States dubbed AUKUS, which has infuriated France after Canberra cancelled a lucrative contract for French submarines.

"I know that there has been a certain raucus squawkus from the anti-AUKUS caucus," Johnson joked.

"But AUKUS is simply a recognition of the reality that the world is tilting on its economic axis and our trade and relations with the Indo-Pacific region are becoming more vital than ever before."

Johnson also talked up Britain's action on climate change and the need for global coordination, ahead of convening the two-week COP26 climate summit from October 31.

The gathering in Scotland's biggest city Glasgow will be the "summit of our generation", he said, but he was light on any new detail for Britain's net-zero ambitions.

Rather, the four-day Tory gathering saw photo opportunities with e-bikes and zero-carbon housing.

Sunak said on Monday it would be "immoral" to bequeath pandemic-driven debt to future generations, but made no mention of saving those generations from a burning planet.

The omission was a "damaging sign" ahead of COP26, commented Rebecca Newsom, head of policy for Greenpeace UK.

- The B-word -

In contrast, the B-word -- Brexit -- has been a recurrent theme for Tory delegates, adamant that current problems associated with the EU split will pass.

Brexit minister David Frost admonished the "anti-transport, anti-car" lobby's "anti-growth ideologies" and "persistent miserabilism".

Home secretary Priti Patel used her own conference speech on Tuesday to promise tougher action against climate protesters who have been blockading roads around London.

Johnson mocked the demonstrators as "irresponsible crusties".

But his COP26 president, Alok Sharma, denied the party was soft-pedalling climate change with less than a month to go before he welcomes delegates from around the world to Glasgow.

More For You

Air India eyes Boeing jets rejected by Chinese airlines: report

Tata-owned Air India is interested in purchasing jets that Chinese carriers can no longer accept (Photo credit: Air India)

Air India eyes Boeing jets rejected by Chinese airlines: report

AIR INDIA is seeking to acquire Boeing aircrafts originally destined for Chinese airlines, as escalating tariffs between Washington and Beijing disrupt planned deliveries, reported The Times.

The Tata-owned airline, currently working on its revival strategy, is interested in purchasing jets that Chinese carriers can no longer accept due to the recent trade dispute. According to reports, Tata is also keen to secure future delivery slots should they become available.

Keep ReadingShow less
Infosys forecasts lower annual growth after Trump tariffs cause global uncertainty

The IT service firm said its revenue would either stay flat or grow by up to three per cent

Getty Images

Infosys forecasts lower annual growth after Trump tariffs cause global uncertainty

INDIAN tech giant Infosys forecast muted annual revenue growth last Thursday (17) in an outlook that suggests clients might curtail tech spending because of growing global uncertainty.

The IT service firm said its revenue would either stay flat or grow by up to three per cent in the fiscal year through March 2026 on a constant currency basis. The sales forecast was lower than the 4.2 per cent constantcurrency revenue growth Infosys recorded in the previous financial year.

Keep ReadingShow less
UK retailers

For many retailers, this has meant closing stores, cutting jobs, and focusing on more profitable business segments

Getty

6 UK retailers facing major store closures in 2025

In 2025, several UK retailers are experiencing major store closures as they struggle to navigate financial pressures, rising operational costs, and changing consumer behaviours. These closures reflect the ongoing challenges faced by traditional brick-and-mortar stores in an increasingly digital world. While some closures are part of larger restructuring efforts, others have been driven by financial instability or market shifts that have forced retailers to rethink their business strategies. Let’s take a closer look at six major UK retailers affected by these trends.

1. Morrisons

Morrisons, one of the UK's largest supermarket chains, is undergoing a significant restructuring in 2025. The company has announced the closure of several in-store services, including 52 cafés, 18 Market Kitchens, 17 convenience stores, and various other departments. This move is part of a larger strategy to streamline operations and address rising costs. Morrisons’ parent company, CD&R, has been focusing on reducing overheads and refocusing on core services.

Keep ReadingShow less
Starmer Trump

The UK is seeking an agreement with the US to remove Trump’s 10 per cent general tariff on goods and the 25 per cent tariff on steel and cars.

Getty Images

Industry warns Starmer: Strike deal with US or face factory job losses

FACTORY owners could begin laying off workers within months unless prime minister Keir Starmer secures a trade agreement with US president Donald Trump, MPs have been told.

Make UK, an industry lobby group, told the business and trade select committee that tariffs on British exports were reducing demand for UK-manufactured goods.

Keep ReadingShow less
British Steel halts layoffs after government rescue plan

Chancellor Rachel Reeves in the rail and sections hot end rolling mill during her visit to the British Steel site on April 17, 2025 in Scunthorpe, England. (Photo by Danny Lawson - WPA Pool/Getty Images)

British Steel halts layoffs after government rescue plan

BRITISH STEEL announced on Tuesday (22) it has halted plans to lay off thousands of workers after the government secured the raw materials necessary to keep the country's last steelmaking blast furnaces running.

The future of the plant was thrown into jeopardy in March when its Chinese owners Jingye said it was no longer financially viable to keep the blast furnaces burning, putting 2,700 jobs at risk.

Keep ReadingShow less