Last minute rush for ISAs before the Budget
Amid fears of changes to tax-free ISAs in the upcoming Budget, Britons are rushing to maximise their savings in these accounts. Concerns stem from remarks by Rachel Reeves, who previously suggested a cap of £500,000 on tax-free ISAs, sparking fears that she might target ISAs for a tax raid. As a result, investments in stocks and shares ISAs have surged; one provider reported a 156% increase in contributions in September compared to the same period last year. The number of ISA millionaires has tripled in three years, with over three thousand holding more than £1 million in their ISAs, and thousands more nearing that figure. Analysts credit this growth to the power of compounding and investing in stocks and shares rather than just relying on cash ISAs. Proposed changes could reduce the £20,000 annual contribution limit or introduce a cap, worrying investors seeking to save for their future amid an increasingly taxed environment.
Five arrested after Birmingham airport cannabis seizure
Five men have been arrested following the seizure of cannabis worth £5 million at Birmingham Airport. National Crime Agency (NCA) investigators and police apprehended the individuals, aged between 21 and 27, in Luton and London. The arrests are linked to a smuggling attempt in August, involving over half a tonne of cannabis flown into the UK from Thailand via Paris. Eleven passengers were initially detained and released on bail pending further investigations. The NCA has warned travellers arriving from countries where cannabis is legal that they face jail time if caught smuggling the drug into the UK. Cannabis seizures in the UK have tripled from 2023 to 2024, driven by organised crime groups seeking higher profits. These gangs exploit couriers for financial gain, with little regard for their safety or freedom.
Woman, 60, arrested on suspicion of manslaughter
A sixty-year-old woman has been arrested on suspicion of manslaughter following the deaths of three residents at a care home in Swanage, Dorset. The tragic incident unfolded on 23 October, leading to the evacuation of all 48 elderly residents, some with dementia; seven others were taken to the hospital. Emergency services responded swiftly, with fire crews and local volunteers providing temporary shelter and supplies for displaced residents, and the police have launched an investigation. The leader of the investigation team expressed condolences to the affected families, stressing that the arrest would help determine if gross negligence was involved. Local authorities are working to ensure displaced residents’ care needs are met. The community is deeply impacted by the incident, and local police are on hand to offer support as investigations continue.
Disposable vapes ban over concerns for young people 'hooked on nicotine'
The Government has confirmed that a ban on the sale of disposable vapes will take effect on 1 June 2025. There are growing concerns about the environmental impact and the rising number of young people becoming addicted to nicotine through vaping. Health officials report a significant increase in vape usage, with nearly five million being used and discarded every week. The ban aims to reduce waste, protect the environment, and curb the appeal of vapes to children. Health minister Andrew Gwynne said that a quarter of 11 to 15 year-olds used vapes last year, with disposable vapes being the most popular choice. The Government also plans to introduce a bill which will gradually raise the legal smoking age and implement stricter controls on the sale and marketing of vaping products. This is part of a broader effort to create a smoke-free future in the UK.
