Nigel Farage has resigned as the MP for Clacton and will contest the resulting by-election, a dramatic gambit that pauses two parliamentary standards investigations into his financial affairs and asks the voters of Essex, rather than Westminster’s watchdogs, to deliver the verdict.

In a lengthy televised address, the Reform UK leader said he had “never been angrier”, claimed to be the most vilified politician in modern British public life and insisted he had “done nothing wrong … I have not broken the law in any way at all”.

“Now I’ve decided that the people of Clacton should be the judges of my actions. This will be a people versus the establishment by-election,” he said. “It’s a chance to stick two fingers up to the entire Establishment, to frankly tell them where to go, and that is why I will be putting my name forward to stand in this by-election … I will fight to win.”

The resignation comes amid mounting scrutiny of Mr Farage’s finances. He has been reported to the authorities over claims that George Cottrell, a long-standing ally known as “Posh George” who holds a fraud conviction in the United States, provided undeclared funding for security and staffing in the year before Mr Farage entered the Commons, along with the use of a five-storey Georgian townhouse near Buckingham Palace. The Sunday Times reported that Mr Cottrell recruited and paid three staff to work on Mr Farage’s social media output ahead of the general election.

Parliament’s standards commissioner, Daniel Greenberg, was already investigating a £5 million gift the MP received from the crypto billionaire Christopher Harborne. Under the rules governing the Register of Members’ Financial Interests, newly elected MPs in 2024 were required to declare gifts worth more than £300 received in the previous 12 months, unless the gift could not reasonably be thought by others to relate to their political activities. Critics argue the Cottrell arrangements fell squarely within that requirement.

Crucially, resigning his seat suspends both investigations. They would restart if Mr Farage is re-elected, and a finding against him resulting in a suspension of more than 30 days could expose him to a recall petition under the Recall of MPs Act, raising the prospect of a second Clacton by-election in the autumn or winter.

Mr Farage, who won Clacton with a majority of 8,405 in 2024, insisted the Harborne gift was made “on an unconditional basis” and accused his opponents of weaponising the standards regime. “Standards are now being used as a political tool,” he said, adding that two decades of “constant demonisation by the press” explained why he would need the money.

The row lands at a delicate moment for a party that has spent months courting business leaders and positioning itself as a government in waiting, with Mr Farage recently putting his own odds of reaching No 10 within four years at 25 per cent. For firms weighing up Reform’s tax and regulatory pledges, months of by-election uncertainty and revived standards inquiries add political risk to the calculation.

His opponents scent opportunity. The Conservatives, a distant second in Clacton last time, have vowed to fight hard to retake the seat, and a challenge is also expected from Rupert Lowe’s Restore. Labour and the Liberal Democrats have demanded a parliamentary sleaze inquiry into the latest claims.

Kemi Badenoch used a rally in central London to accuse Mr Farage of “hiding” from the row and Reform of being “completely distracted by their constant scandals and personal dramas”. The Conservative leader also seized on his apparent reference to Leveson during a heated exchange with a Sky News crew, in which he warned of “serious consequences” over what he called harassment of his family, a claim Sky denies. “He’s hinting at press regulation,” she said. “We should be worried about a Reform government using government power to control the press.”

Mr Farage did secure one notable endorsement. Donald Trump shared an article on Truth Social claiming the British media were running “the 2024 anti-Trump playbook” against him, echoing the Reform leader’s own description of the affair as an “establishment hit job”. The US president is also reported to have telephoned Mr Farage to congratulate him on Sir Keir Starmer’s removal from Downing Street.

Whether Clacton’s voters share that reading will now be tested at the ballot box. If they return him, the investigations resume, and the whole cycle may begin again.

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

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Jonathan Price has extensive private sector expertise and working with development agencies globally

A chair to an independent advisory panel that will help shape the remit of a new economic development agency for Wales has been revealed.

Cabinet Minister for Enterprise, Connectivity and Energy, Adam Price, confirmed that Jonathan Lewis has taken up the role.

Mr Lewis has extensive business and leadership experience across major infrastructure and services sectors globally, particularly energy, engineering and construction and technology. He currently chairs the UK’s largest ports operator Associated British Ports (ABP) and is a non-executive director at Adura Energy. He previously held chief executives roles at Capita and Amec Foster Wheeler

Much of Mr Lewis’s career was spent in the energy sector in the United States and in other international markets where he engaged with various national development agencies around the world.

The new agency will focus on attracting inward investment, supporting Welsh businesses to scale, with a focus also on innovation. It will be at arm’s length of Welsh Government. The panel will need to consider the level of private sector expertise required to run the organisation. It is not clear how many, if any, existing civil servants could transfer into the new body.

The agency will also take on the current business support of the Cardiff Bay administration which is delivered, with external partners, through its Business Wales brand. The panel will also have to consider whether the agency will have its own investment remit so allowing it to provide equity to help support the growth ambitions of businesses.

How the agency aligns with the economic agendas of the four corporate joint committees covering all regions of Wales, as well as local authorities, will also need to be considered by the panel, for which other members are under consideration. There is potential for the agency to work collaboratively with Transport for Wales (TfW), which is a company of Welsh Government.

TfW could take on its own economic development remit, with land assembly powers, to support commercial developments around key transport hubs. When the agency could be launched and initial funding allocations will need to be worked through.

It is unlikely to have the range of remit, from business support to land reclamation, of the Welsh Development Agency, which was abolished by the then Labour Welsh Government of Rhodri Morgan, and its functions brought directly under the civil service, in 2006.

The agency will play a role in helping to achieve the Welsh Government’s key economic goal, while over a decade, of halving Wales’ current in work productivity gap with the UK average.

Mr Price, said: “We have already announced the most ambitious economic goal in Wales in two decades – halving Wales’ productivity gap with the UK within 10 years. To meet that challenge, we need a fundamental change in how we approach economic development in Wales.

“The new agency will be agile, dynamic and built for the Wales of today. Innovation will be at its core -not just new product development, but the spread and adoption of new ideas that make businesses more competitive and improve people’s standard of living.

“I am delighted that Jonathan Lewis has been appointed as chair of the expert advisory panel by the First Minister. The panel’s insight and advice on the operating model of the new agency will be crucial.

“This agency isn’t about recreating the past. It’s about building something that can stand out globally while connecting effectively with communities and businesses right across Wales. Today marks a key milestone in the journey to making Wales the best place in the United Kingdom to start, grow and invest in a business.”

Mr Lewis said: “Improving Wales’ productivity is core to realising our future prosperity as a nation. I am delighted to have been asked by the First Minister to chair a panel of senior advisers charged with advising on how a new innovation and development agency can underpin this objective.”

Joshua Miles, head of FSB Wales, said:“Bringing business support, export promotion and inward investment together under one development agency could help simplify Wales’ fragmented support landscape and make it easier for small firms to get the help they need.

“We welcome the establishment of the expert group and the appointment of Jonathan Lewis as its chair, but businesses cannot afford years of discussion about structures and processes. The Welsh Government must move quickly from design to delivery, with a clear implementation timeline, clarity on how business support will be strengthened, and a multi-year funding settlement.

“Small businesses make up the majority of Welsh businesses so their experiences, needs and ambitions must be embedded in the agency from the outset, including through the membership of the expert group. That is the only way it will deliver lasting growth for communities across Wales.”

A Hampshire defence entrepreneur has thrown down the gauntlet to Andy Burnham, urging the Labour leadership frontrunner to make this month’s Farnborough International Airshow one of his first engagements, potentially on his first day in Downing Street.

Andrew Barnett, managing director of Fareham-based Barnbrook Systems and chair of the South Central Regional Defence and Security Cluster, says the Makerfield MP’s attendance at the global showcase, which runs from 20 to 24 July, would send an unmistakable signal that the next occupant of Number 10 is serious about national security, the economy and UK plc.

The intervention comes at a moment of extraordinary political flux. Potential candidates for the Labour leadership have from 9 to 15 July to secure the backing of 81 MPs, and until 16 July to gather nominations from affiliated bodies such as trade unions. If only one candidate clears the threshold, the new leader will be confirmed at a special Labour conference on Friday 17 July before being appointed Prime Minister, three days before the airshow opens. A contested race would push the result to a members’ ballot concluding on 29 August.

“Andy Burnham must tie his colours to the mast,” said Barnett, who also sits on the board of the Farnborough Aerospace Consortium. “The opening day of the airshow on July 20 may be his very first day in office if he stands unopposed for PM, yet that will make it even more important that he attends.

“No doubt he will have an overflowing in-tray, but defence, keeping our country and its people safe, and greater defence spending must be at the very top of his list of priorities.

“Equally, if other candidates are standing and the date for the Labour leadership contest is pushed back, it is critical that they attend too, as a statement of intent of how important defence will be when they take office.

“The world is becoming increasingly unstable while warfare is rapidly evolving before our eyes. The UK must have the technology, investment and supply chains to support our own military and those of our allies.”

Barnett confirmed he has written to Burnham setting out the case for attending and has invited him to meet, an offer he says will be extended to any rival candidates who emerge. Burnham has already begun courting the business vote, recently signalling room for movement on tax alongside a pledge to cut business rates for pubs and high street firms, but the defence sector will want to see that warmth extended to Britain’s security industrial base.

The stakes for suppliers are considerable. The government’s Strategic Defence Review committed the UK to spending 2.5 per cent of GDP on defence from 2027, and ministers have since moved to give small defence firms easier access to MoD contracts through a dedicated growth unit. SMEs such as Barnbrook will be watching closely to see whether a new Prime Minister keeps that momentum going.

There is precedent for prime ministerial attendance. Barnett met Sir Keir Starmer shortly after his election at the 2024 airshow, which yielded £13 billion in deals for the UK aerospace industry. Following Sir Keir’s resignation announcement, Barnett called on his successor to place pro-business policies at the heart of the government’s economic plan.

This year’s show, held every two years and built around the pillars of Advancing Aerospace, Propelling Defence and Pioneering Space, is expected to be the biggest yet. Organisers are forecasting record visitor numbers, with six exhibition halls instead of five, expanded flying and static displays and a notably strong showing from defence companies, a reflection of a sector that, according to ADS Group figures, now sits within industries contributing more than £42 billion a year to the UK economy.

Barnbrook Systems will exhibit for the 16th consecutive time, from the Farnborough Aerospace Consortium stand in Hall 1, UK Village, Stand 1317. The global solutions provider, which serves the defence, aviation and aerospace markets, will showcase new and upgraded technology and services.

The firm specialises in Intelligent Internet of Things (IIoT) technology alongside Maintenance, Repair and Overhaul (MRO) work that breathes new life into older defence assets. That includes supply solutions for engine controls and flight actuators on fighter aircraft still in active service around the world, among them the Tornado, Jaguar, Hawk and Sea Harrier, as well as temperature monitors and rotary variable differential transformers.

Barnbrook, which holds both Federal Aviation Administration and Civil Aviation Authority accreditations, recently landed a seven-figure, ten-year contract to supply and maintain relays on Rolls-Royce marine engines across a friendly foreign navy’s entire destroyer fleet. Its BlueCube-enabled IIoT refuelling switches for Leonardo helicopters have transformed the safety and efficiency of inflight refuelling, and it will also demonstrate its E:BAG fire suppression system for lithium-ion battery fires in phones, tablets, power banks, laptops and vapes.

With almost 50 staff and offices in the United States and Europe, the Fareham firm punches well above its weight as both prime contractor and subcontractor to multinationals, the UK MOD and overseas governments.

Whether the next Prime Minister chooses to walk the halls at Farnborough remains to be seen. For Barnett, the calculation is simple: in an unstable world, showing up matters.

Amy Ingham

Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.

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Thailand News Roundup: Business, Culture, and Society

Economic Developments and Business Growth

Investment and Infrastructure

Thailand’s economic landscape shows significant momentum in strategic investment and infrastructure development. The country has reportedly locked in $4.1 billion in EV supply chain investment, reflecting a broader pivot in its automotive sector. Hyundai has launched local assembly of the Ioniq 5, while Fulltech’s Thailand plant is targeting AI and satellite component demand. Meanwhile, Central Pattana and Mitsubishi Estate announced a $330 million mixed-use development, and JERA and EGAT are partnering on a hydrogen value chain project. Thailand is also reviving a $30 billion coast-to-coast corridor intended to rival the Malacca Strait, positioning itself as a competitive logistics hub in the region. For ongoing coverage of these developments, Thailand Business News provides detailed analysis of the country’s evolving investment climate.

Financial and Regulatory Shifts

On the financial front, Siam Commercial Bank (SCB) has introduced 24/7 USD clearing services in partnership with Citi Token Services, signaling a modernization of the country’s banking infrastructure. Thailand also plans to sell $240 million in government savings bonds by September, while a draft AI regulatory bill blends EU-inspired frameworks with domestic policy approaches. However, not all financial news is positive: a so-called “Ghost Investor” continues to trouble Thailand’s Securities and Exchange Commission, raising questions about regulatory oversight. Additionally, authorities are pursuing a fugitive Chinese businessman linked to illegal cryptocurrency mining operations.

Tourism Sector Continues Strong Momentum

Visitor Growth and Market Positioning

Thailand’s tourism sector remains a bright spot, with the country welcoming 16.3 million tourists in the first half of 2026 alone. Reports indicate Thailand is now competing closely with Vietnam, Malaysia, and Singapore as part of Southeast Asia’s fastest-growing backpacking circuit. Bangkok has also emerged as a luxury travel powerhouse, outperforming the United States, India, and Indonesia in certain segments, driven by rising millionaire growth and high-spending visitors. The upcoming Tomorrowland Thailand festival has already sold 150,000 tickets, expected to inject roughly 6 billion baht into the local economy.

Travel Advisories and Practical Considerations

Despite this growth, travelers are being urged to carry proof of funds and complete digital arrival documentation amid tightened immigration screening. This signals a more cautious regulatory posture even as the government promotes new initiatives like “Communities ConNext,” which showcases 55 local destinations to attract long-haul travelers seeking authentic cultural experiences.

Social and Public Health Concerns

Food Safety and Public Health

A notable public health issue involves the traditional fermented fish dish “pla ra,” which has come under scrutiny after thousands of individuals tested positive for liver fluke infection linked to undercooked preparations. This has prompted health officials to issue warnings around food safety practices tied to regional culinary traditions.

Human Rights and Legal Developments

Thailand’s human rights record remains under international scrutiny. Human Rights Watch has called for an investigation into alleged brutality at a marine barracks, while the International Commission of Jurists has facilitated discussions among judges regarding the implementation of the Anti-Torture and Enforced Disappearance Act. Separately, advocacy groups have urged the European Union to address Vietnam’s alleged transnational repression occurring within Thai borders, highlighting Thailand’s role as a regional hub for cross-border human rights concerns.

Tragic Incidents and Public Safety

Thailand has also faced somber news in recent days. A tragic incident left at least nine monks killed after a young driver crashed a truck into a religious procession, drawing widespread shock and mourning. In another widely covered case, a 21-year-old British woman was arrested in connection with the stabbing death of her boyfriend, an incident that has attracted significant international media attention.

Sports and Cultural Exchange

On a lighter note, Thailand continues to build its profile in international sports. Thai volleyball star Ajcharaporn “Pure” Kongyot is set to compete in the United States, while the squash community expresses optimism about developing the next generation of Thai athletes through programs like So Squash 24. The country also recently hosted the CARAT Thailand 2026 military exercise opening ceremony, reinforcing security partnerships with the United States and regional allies.

Source : Google News – Search

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The think tank tracked the pay of the country’s top bosses including FTSE 100 executives

A think tank that raised awareness of pay inequality in the UK and tracked the salaries of Britain’s top-paid executives including bosses on the FTSE 100 has announced its closure. The High Pay Centre (HPC) said on Tuesday (July 7) it had faced “considerable fundraising challenges” over the past two years.

The London-based organisation was founded 15 years ago by Deborah Hargreaves, a former business journalist at the Guardian and Financial Times, following the High Pay Commission’s report, which at the time proposed a 12-point plan to curb excessive top executive salaries.

The HPC advocated for fairer pay in Britain and ran a programme of research and events aimed at influencing policy change and public debate around the issue.

But it is understood the organisation came under financial strain in recent years after failing to secure new sources of finance after long-standing donors left the sector.”

“While we have worked hard to develop a more sustainable funding model, unfortunately we have not been able to secure new sources of funding to replace what has been lost,” the company said in a statement.

“The reforms we have advocated for, including greater transparency on executive pay and workforce pay ratios, as well as shareholder ‘say on pay’, have increased transparency and given investors greater opportunities to express their views on company decisions about pay and reward.

“However, while the gap between the pay of top executives and that of British workers remains in excess of 100:1, we are disappointed that successive governments and regulators have not gone further to address an economic model that continues to drive inequality.”

The HPC is set to close later in July but said it would first publish its latest analysis of CEO salaries and pay ratios in the FTSE 100, along with “further reflections” on what is needed to transform the UK’s economic model from one that “exacerbates inequality” to one that “can deliver prosperity while better serving society”.

It also said it was currently exploring whether “other like-minded organisations” might be able to continue its work.

“We hope to share more information before our closure,” the organisation added in a statement.

“In the meantime, we’d like to thank the many individuals and organisations who have supported our work over the years, including those who have donated to help support our survival in recent months.

“We know that many of you will be as disappointed as we are that this day has come. As so many of you have told us recently, the issues we have campaigned on are more important now than ever.”