Britain’s Climate Tech Gets a £80M Boost

The summary: Elbow Beach is giving British climate tech startups the cash and clout they need to turn world-saving ideas into booming businesses—because net zero won’t fund itself!

The details:

• Mind the (Funding) Gap – The world needs $4 trillion annually to hit net zero by 2050, but we’re coughing up just 16% of that. Enter Elbow Beach Capital, chucking £80M at early-stage climate tech to help plug the gap.

• Backing Britain’s Brightest – With £63M already committed (including £50M from the British Business Bank), Elbow Beach’s second fund is ready to bankroll up to 36 UK startups tackling decarbonisation, automation, and AI-powered efficiency.

• More Than Just Green Dreams – The firm’s philosophy? Climate tech must make commercial sense. That means funding innovations like energy-efficient EV batteries, industrial electric vehicles, and AI-driven crop yield improvements.

• Profit Meets Purpose – Beyond investments, Elbow Beach runs a foundation that donates to social and environmental causes, proving that making money and saving the planet don’t have to be mutually exclusive.

Why it matters: If we don’t throw serious cash at climate tech now, we’ll be left with a to-do list longer than a Southern Rail delay board. The UK’s got the brains to lead the charge, but without proper backing, our best innovations will either fizzle out or hop across the pond for funding. Elbow Beach is making sure homegrown solutions don’t just survive but scale—because saving the planet should be a booming British export, not an American monopoly.

Reeves' Fiscal Tightrope: No Taxes, Just Cuts!

The summary: Rachel Reeves is juggling cuts, borrowing rules, and a wobbly economy, all while promising no tax hikes—so expect a financial balancing act with a few surprises along the way!

The details:

• Spring Statement: Less of a Spectacle, More of a Reality Check – Chancellor Rachel Reeves will deliver her update on 26 March, but don’t expect fireworks—she’s keeping tax rises off the table while trying to balance the books with spending cuts. Welfare, civil service, and foreign aid are all bracing for the chop.

• Tightening the Purse Strings – The government aims to shave £5bn off welfare spending by 2030, with stricter disability benefit assessments and a freeze on incapacity benefits. Meanwhile, 10,000 civil servants could be dusting off their CVs as departments like HR and comms face cuts.

• Defence Up, Aid Down – Reeves will argue the “world has changed” as she shifts spending priorities. Defence spending is set to hit 2.5% of GDP by 2027, likely funded by slashing international aid. And while tax hikes are off-limits, tweaks to the 2% Digital Services Tax on tech giants could be in play to dodge US tariffs.

• Economy on Thin Ice – Growth is sluggish, inflation is stubbornly above target, and borrowing costs remain high. The Office for Budget Responsibility’s latest forecast is set to confirm that Reeves’ financial buffer has vanished—raising the question: will she stick to her borrowing rules or break them under pressure?

Why it matters: Rachel Reeves is walking a fiscal tightrope—cutting spending without raising taxes, all while the economy stumbles and borrowing costs climb. If her sums don’t add up, she risks breaking her own borrowing rules or squeezing public services just as the cost of living bites. Meanwhile, businesses and households brace for impact, wondering whether they’ll get relief or just a polite government shrug.

23andMe's DNA Test: A Bankruptcy Blunder!

The summary: 23andMe’s fall from grace is a reminder that even the most glamorous tech ventures can unravel when the business model’s more genetic gamble than DNA-driven goldmine.

The details:

• 23andMe's DNA Unravels – The once high-flying genetic testing firm has filed for bankruptcy, with co-founder Anne Wojcicki making a swift exit as CEO. The company now seeks a buyer under court supervision.

• Data Drama Continues – California's Attorney General suggests customers hit "delete" on their data, following past security breaches and the firm's financial turmoil. 23andMe insists all is secure, but trust, like a dodgy DNA match, is questionable.

• From Billion-Dollar Boom to Bust – Once worth $6bn and backed by Oprah and Snoop Dogg, the firm struggled with a one-and-done business model, a failed subscription service, and an ill-fated pivot to drug development.

• Genetic Gamble – UK laws offer some protection, but concerns linger over what happens to customers' DNA if the firm is sold. As one expert warns, you didn’t just hand over your genes – you handed over your family's too.

Why it matters: A once-celebrated biotech darling crashing into bankruptcy is a cautionary tale for businesses built on hype rather than sustainability. With privacy fears mounting and a dodgy data breach in its past, 23andMe's downfall reminds us that DNA might be harder to safeguard than a forgotten Netflix password. And if your genetic blueprint is now part of a fire sale, you might be left wondering who’s got their hands on your family tree.

Trending stories

Reeves confirms 15% cut to Civil Service running costs

Second homes to be taxed double by most councils - a 'naked cash grab' or not far enough?

UK mulls big tech tax changes to avoid US tariffs

AIM: Private equity takeovers reach £5bn over last year

Power switching: banks compete for current account customers with cash payouts

Trump’s EU tariffs threat could cost 80,000 jobs in Ireland, Dublin warns