The Chancellor, Rachel Reeves, delivered her first Spring Statement in the House of Commons on Wednesday 26th March 2025.
To help you navigate these announcements, our colleagues from Streets Tax and our financial services arm have provided a comprehensive breakdown of the key changes. We also covered important updates on topics impacting businesses and private individuals as we prepare for the new tax year 2025/26.
NHS hospitals secure £8.5m for solar energy projects
Hospitals in Hull and northern Lincolnshire have received £8.5 million from state-owned Great British Energy to fund large-scale solar power installations. The investment will support rooftop solar panels and solar car ports at Hull Royal Infirmary, Diana Princess of Wales Hospital in Grimsby, and Scunthorpe General Hospital.
At Hull Royal Infirmary, solar panels will be installed on rooftops, starting with the women’s and children’s building, while solar car ports will be added to the Argyle Street and smaller hospital car parks. The initiative is expected to generate annual savings of over £635,000.
Grimsby hospital will install rooftop solar panels, and Scunthorpe General Hospital has been allocated just over £1 million for similar renewable energy upgrades. The funding is part of a broader effort to cut NHS energy costs and reduce reliance on traditional power sources.
ProBiotix secures exclusive distribution deal in South Korea
UK-based life sciences company ProBiotix Health has signed a long-term agreement with South Korea’s TopHealth to distribute its probiotic products. The deal grants TopHealth exclusive rights to sell ProBiotix’s CholBiome® brand, private-label solutions under YourBiotix, and products under TopHealth’s own consumer brand.
South Korea’s probiotics supplement market, valued at £350 million in 2023, is projected to reach £870 million by 2030. The partnership leverages TopHealth’s expertise in consumer health and its strong presence in the influencer-driven marketing space to expand ProBiotix’s footprint in this high-growth market.
Yorkshire textile manufacturer launches 100% textile-to-textile recycled polyester on UN’s Day of Zero Waste
Camira, a leading textile designer and manufacturer, has innovated Lucia T2T, a new recycled polyester made entirely from 100% textile-to-textile (T2T) waste. This innovation aims to address the growing, global textile waste crisis and promote a circular approach to textile design.
On the United Nations’ International Day of Zero Waste, March 30, 2025, Camira will unveil Lucia T2T, which blends pre-consumer textile offcuts from garment manufacturing and post-consumer clothing that has reached the end of its wearable life.
Ian Burn, Camira’s Director of Marketing and Sustainability, said: “Lucia T2T is a new generation textile which helps combat the environmental impact of textile waste. It’s a reimagination of our first post-consumer recycled polyester, previously made from plastic bottles, now made from 100% textile-to-textile waste from the apparel industry.”
With millions of tonnes of fabric sent to landfills each year, and less than 1% recycled into new products, fast fashion is a significant contributor to global textile waste. The UN’s Day of Zero Waste highlights the need for circular solutions in fashion, supporting Sustainable Development Goals 11 and 12.
Ian Burn continued: “Camira has always been an industry leader when it comes to the manufacturing of sustainable fabrics, having introduced our first recycled fabric in the 1990s. But Lucia T2T is the next step for us – we’re viewing textile waste, from our own manufacturing or the wider textile industry, as a hugely valuable, precious resource which allows us to create new materials, and support a circular economy.”
Lucia T2T is produced through tertiary recycling, where discarded textiles are shredded, crushed, and treated to remove colorants and treatments, resulting in a regenerated polyester with no colour constraints that meets commercial performance standards.
Huge solar farm takes next steps on Nottinghamshire-Lincolnshire border
PS Renewables and Ørsted, developers of renewable energy projects in the UK, have submitted their application for Development Consent Order (DCO) for One Earth Solar Farm. At the border of Nottinghamshire and Lincolnshire, the project could produce enough energy for more than 200,000 homes a year.
With the Planning Inspectorate having reviewed the application and accepting it for examination, the scheme now moves into the ‘pre-examination stage’ in preparation for upcoming public examinations.
The project comprises the construction of a solar farm and collated battery energy storage system (BESS) and would be located across approximately 1,600 hectares of land, primarily in Nottinghamshire.
The location of the solar farm was chosen based on the availability of a grid connection point at High Marnham. When the old coal-fired power station was decommissioned, it created capacity at this location for new energy projects.
Randall Linfoot, programme manager for Ørsted, said: “We are delighted to have had our DCO application for the One Earth Solar Farm accepted for examination. It is crucial for the UK that large renewables projects such as One Earth can be progressed as quickly as possible whilst also ensuring they are properly scrutinised.
“Projects like this will be key contributors to the UK’s energy security alongside bringing investment, low-cost electricity for consumers and helping meet global climate goals and net-zero targets.”
The proposals for One Earth have changed significantly in response to two periods of consultation over the last two years. The masterplan has been reduced to remove panels near homes and villages that are located close to the project boundary.
Yorkshire AI company strengthens senior team
IntelliAM, a Yorkshire-based software company specialising in artificial intelligence for manufacturing, has strengthened its senior team as it plans further growth.
Jane Robinson has been appointed as vice president for business development at the Dinnington-based company which counts six of the world’s top 12 food and drink producers as customers.
Jane is a former founding director of engineering business Cutting Technologies and has more recently delivered financial change management projects for large public sector organisations and private sector companies.
A well-known figure in the South Yorkshire business community, and a member of the Company of Cutlers in Hallamshire, Jane will lead IntelliAM’s accelerated growth and cross-channel marketing.
IntelliAM has also recently appointed Ian Wild as VP of product and Owain Lewis as VP of data engineering.
San Francisco-based Ian has significant multi-national experience as a customer experience VP, partner solutions VP and senior solutions architect.
Owain joins IntelliAM following a lengthy career as a senior applications architect working for PLCs and limited companies including PlusNet and TechnoPhobia.
IntelliAM CEO, Tom Clayton, said: “IntelliAM is fast becoming a leader in the science of manufacturing, and we are thrilled Jane has joined us permanently to help drive our brand forward, both in the UK and globally.
“Jane has a deep knowledge of the manufacturing and engineering sectors, and as a former director at a successful SME, she knows how to leverage growth through smart business development and impactful marketing.”
Jane Robinson added: “Manufacturers do not need to break the bank to rebuild old factories or replace legacy equipment – instead they can use the data taken from existing machines to understand how efficiency can be improved, productivity increased, downtime minimised, and energy reduced.
“The scope for game-changing improvement across the entire manufacturing sector is colossal, and I’m looking forward to growing both internal and external relationships to support IntelliAM’s expansion.”
IntelliAM, which uses machine learning and AI solutions to tap into billions of manufacturing data points to boost productivity and reduce operating costs, is seeking to build on a strong start following its listing on the Aquis Stock Exchange last year. Customers include Muller, Mars, ADM, Weetabix, and Hovis.
£10m restoration set for historic University of Huddersfield building
Henry Boot Construction, part of Henry Boot, has been appointed to deliver a £10m restoration of the Grade II-listed Ramsden Building at the University of Huddersfield.
Located on Queensgate in the heart of Huddersfield town centre, the Ramsden Building is one of the University’s most architecturally significant buildings.
Opened in 1883 by the Duke of Somerset, the building was the first purpose-built educational facility on the University’s campus. It was designed by architect Edward Hughes and is a flagship example of the Gothic Revival movement.
Its façade is distinguished by four lions holding shields and prominent local industrialists, Sir Thomas Brooke and Sir John William Ramsden.
The restoration will solely focus on internal works, preserving the building’s original features – including hidden cornicing, an ornate staircase and wooden wall panelling – while ensuring it meets modern academic and sustainability standards.
The project will also involve a complete overhaul of the building’s mechanical and electrical systems, including the installation of new air-source heat pumps (ASHPs) within the central courtyard to provide sustainable heating. A retrospective mezzanine level will be removed, restoring a double-height space to be used for events.
Upon completion, the ground floor will house the University’s International Study Centre, while the two upper floors will provide space for post-graduate research, offices and computer labs.
The restoration of the building is now underway, with project completion set for early 2026.
Professor Tim Thornton, Deputy Vice-Chancellor at the University of Huddersfield, said: “The Ramsden Building is a special place and an important part of our heritage. These works will ensure the building will continue to play a key role in our exciting future.
“While the building has seen several smaller refurbishments over the years, a full restoration is now needed to meet modern university standards for our staff and students.
“Our vision is ‘to be an inspiring, innovative university of international renown,’ and these essential restoration works will be instrumental in helping us achieve this.”
Lee Powell, Managing Director of Henry Boot Construction, added: “We are delighted to be tasked with restoring the stunning Ramsden Building to modern standards while preserving its rich heritage.
“Once completed, it will be an inspiring space for learning and work, and it will continue to be a key part of the University’s architectural fabric for many years to come.
“Huddersfield town centre is undergoing significant positive change at the moment, and we are proud to be contributing to the town’s education sector.”
Henry Boot Construction secured the project via the Procure Partnerships National Framework. As part of this, they plan to deliver key social value outputs through the utilisation of a local supply chain and on-site construction training initiatives.
GSSArchitecture have been key partners in the design and planning of the refurbishment, alongside M&E consultants Buro Happold and structural engineers Curtins.
Middlesbrough considers land transfer for Gresham regeneration
Middlesbrough Council is reviewing a proposal to transfer land in Gresham to the Middlesbrough Development Corporation (MDC) to advance a major regeneration project. Plans include a 200-bed hotel, 238 apartments, and accommodation for 450 students.
The council’s Executive Sub-Committee for Property will assess the transfer, which includes several properties such as the former Crown pub. The move is contingent on MDC providing written assurances regarding the development’s mix and quality.
The land transfer, set at nil value, aligns with efforts to drive economic growth and revitalise the town centre. While broader governance concerns have delayed asset transfers to MDC, the council may proceed voluntarily due to the project’s potential economic benefits. If approved, MDC will assume responsibility for the Crown pub’s maintenance and necessary remediation work.
Student accommodation provider secures £58.5m refinance facility for expansion
Kexgill Group, a provider of student accommodation across the north of England, has secured a £58.5 million refinance facility provided by Aldermore Bank.
The transaction will support Kexgill’s growth plans for newly developed student accommodation, including a further 170 new bedrooms in prime city locations near universities.
Kexgill’s legal advice was provided by a multi-disciplinary team at Andrew Jackson Solicitors, led by real estate and property partner Kirsty Barsby, who was supported by Ailish Ward and Chenika Kunzmann (real estate and property), together with Matthew Smith, Nicholas Scott, Benn Shiletto and Grace Hanson (corporate / banking).
Richard Stott, managing director of Kexgill Group, said: “I am delighted to have had the support of the team at Andrew Jackson throughout this transaction, which was complex in places. Having their expertise and understanding of our needs makes all the difference.”
Kirsty Barsby at Andrew Jackson Solicitors added: “It has been a pleasure to work with Richard and the team at Kexgill, which is a long standing client of the firm, and to support them on their latest transaction as the business continues to grow and deliver high quality student accommodation.”
Profits rise at Skipton Business Finance
Skipton Business Finance (SBF), a provider of flexible working capital solutions for businesses across the UK, has seen a 13 per cent increase in pre-tax profits to £10.8m for 2024.
The company, which is part of the Skipton Group, also reported a 19 per cent rise in collective turnover among the businesses it serves from £2.1bn to £2.5bn.
Greg Bell, CEO of Skipton Business Finance, said: “2024 was a pivotal year for us, demonstrating our steadfast commitment to supporting businesses across the UK. Achieving a record £2.5 billion in turnover across the businesses we serve and a 13 per cent increase in profitability reinforces our position as a key provider of flexible and accessible funding solutions.
“As we look ahead, our strategic, client-centric focus remains on innovation, strengthening our relationships with intermediaries, and ensuring businesses have the financial resources required to drive sustainable growth.”
Stuart Haire, Group CEO of Skipton Group, added: “Skipton Business Finance is a core component of the Skipton Group, playing a vital role in our commitment to supporting financial wellbeing and driving business growth across the UK.
“Its exceptional performance in 2024, including record lending and increased client satisfaction, underscores the team’s dedication to empowering UK B2B businesses – an essential pillar of the UK economy.
“SBF’s commitment to delivering accessible and flexible funding solutions aligns seamlessly with our Group’s broader purpose of enabling businesses and individuals to achieve long-term financial stability. We commend their achievements and look forward to their continued success.”
