The 13 unmissable TV shows to watch in 2026, from Industry to Bridgerton

It’s set to be another blockbuster year for TV shows in 2026, with the return of much-loved franchises like Bridgerton and Industry, as well as a range of new launches, including – for the young and perpetually online – Ryan Murphy’s The Beauty, a thrilling-sounding look at “ozempic culture,” and the return of Dawn French in a prime time BBC slot in her new comedy series.

Here are the 13 biggest TV shows launching in 2026 and when to catch them.

Can You Keep A Secret?

When grandmother Debbie Fendon’s husband William is mistakenly declared dead, the pair realise they can capitalise on the mistake, hiding him in the loft so they can claim life insurance. But the conceit gets messy with their son Harry and his police officer wife Neha living nearby. Can You Keep a Secret? is based on a bestselling novel by Sophie Kinsella and the six part series starring Dawn French will premiere on the BBC. In a statement, Simon Mayhew-Archer, creator and producer of the show, described it as “clever, quirkily charming family romp.” Early 2026; BBC One and iPlayer.

The Beauty

Long time collaborators Ryan Murphy and Matthew Hodgson take on “ozempic culture” in this new body-horror series. Based on comic books by Jeremy Haun and Jason A. Hurley, The Beauty is a sexually transmitted virus that transforms those who catch it into the perfect versions of themselves – it slims, chisels and sculpts – until it burns the host to death from the inside. The series follows an FBI investigation into the STD, which mysteriously begins wiping out supermodels. The star studded cast will feature Evan Peters and Rebecca Hall as lead FBI investigators, and Ashton Kutcher as the tech billionaire baddie, starring as the man behind “The Corporation”. Murphy told Variety the show asks essential questions like “what would you do for beauty? What would you do for money? It has all of those things that I’ve grappled with in my entire career, all in one package.” Premieres 21 January; Disney Plus

The Night Manager

Tom Hiddleston returns as retired spy Jonathan Pine nearly a decade after The Night Manager’s inaugural season in 2016. Pine has been living off the radar, but dives back into his old life to infiltrate an arms operation in Colombia when he spots a mercenary known to him through a ruthless billionaire arms dealer, played by Hugh Laurie. Along with Hiddleston, Olivia Colman and Alistair Petrie return to the series. The show is based on John le Carré’s 1993 novel of the same name. Creator David Farr told the Guardian that Le Carré, who died in 2020, had “given his blessing to a second season”. Premieres 1 January

More unmissable TV shows to watch in 2026

The Apprentice

Lord Alan Sugar, Baroness Karren Brady and Tim Campbell return to the boardroom for the 20th season of The Apprentice this January. The show returns with its regular format where candidates compete to win a £250k investment and a 50/50 business partnership with billionaire Lord Alan Sugar. For The Apprentice’s big anniversary, the BBC will launch their first full length version of Celebrity Apprentice with proceeds going directly to BBC Children in Need. January 2026

A Knight of the Seven Kingdoms

The Game of Thrones universe returns with prequel A Knight of the Seven Kingdoms. The Game of Thrones series spanned eight seasons and followed a power struggle for the Iron Throne in the mythical kingdom of Westeros and Essos. This new series is set a century ahead of GoT in the year 209 AC (After Aegon’s Conquest) and is adapted from George R.R. Martin’s Tales of Dunk and Egg novellas. The story follows Ser Duncan “Dunk” and his young squire Egg through the kingdom of Westeros, while Egg’s true identity remains hidden. Many fans of the series consider the novellas to be some of Martin’s best work but others are sceptical about how HBO will find enough material to adapt them into a series. This story will focus closely on the pair’s relationship as they face the challenges of knighthood together. The first season will be a six part series at half an hour each and the show has already been renewed for a second season. 19 January; Sky Atlantic and NOW

Industry

The high stakes financial drama, Industry, is back for another season. The show is known for shining a light on the dark and dirty underbelly of the banking industry. Returning for their fourth season with a few leavers and additions to the cast, Industry will be facing the pressures of operating under a new Labour government and there’s a sparkly new Fintech competitor on the scene. The show’s creators Mickey Down and Konrad Kay told ELLE that the new episodes are the franchise’s most “compulsively watchable” yet. January; BBC One and iPlayer

A Thousand Blows

A Thousand Blows is from Peaky Blinders creator Stephen Knight and stars Adolescence actor Stephen Graham. Set in 1880s Victorian England, the drama follows two best friends who immigrate from Jamaica to London’s East End and become embroiled within the world of gritty bare knuckle boxing. The story is dropping all at once on Disney+ and continues one year on from the last season’s finale. Knight told the Daily Express that “the stakes are higher” this time around. 9 January; Disney Plus

Bridgerton

The much anticipated historic fantasy Bridgerton is returning for Season 4. Part 1 of this season follows Benedict Bridgerton, who is reluctant to settle down, but falls in love with a Lady he meets at his mother’s masquerade ball. While fans are excited to see the new release, some say that the show has been losing its magic – with costumes lacking in quality and style being modernised. Showrunner Jess Brownell told Entertainment Weekly that the chemistry between Benedict and Sophie has been defined by “tension and sparkle and chemistry.” Adapted from the writer Julia Quinn’s novel, An Offer from a Gentleman, the new release will perhaps answer fan’s pleas for more focus to be placed on the lead couple of each season’s story. The second half of which will be released on 26 February. Late January; Netflix

The Traitors 

Claudia Winkleman is back to host 22 new players for another season of deception, in which contestants work together to build up a £120k prize pot. Fans have their fingers crossed that the show will be able to live up to the last season, which will be difficult to top. According to the BBC, there will be “even more twists, turns, secrets, epic missions, deception, banishments and, of course, murders aplenty”. Episodes will be coming out consecutively on the first three days of the new year, and for those who just can’t get enough, The Traitors: Uncloaked podcast – which dives deep with unseen content – will be dropping episodes alongside the main series. 8pm, 1 January; BBC One and iPlayer

The Boys

April 2026 will mark the last season of the much loved satirical show The Boys. The corrupt reckless superheroes known as Supes are protected by the powerful corporation Vought International, but go head to head with the vigilante group called The Boys, who seek to eliminate the Supes with blackmail and violence. The series has scheduled its big finale for 20 May, and fans are wondering who will survive. We’re expecting big twists, more deaths and less justice. April 2026

Euphoria

It’s been a long time coming for Euphoria’s third season, which fans have been waiting for since season 2 over 3 years ago. The past two seasons have seen the group of teenagers deal with addiction, abuse and control, sexual identity and exploitation. Creator Sam Levinson doesn’t shy away from heavy issues and self-destructive behaviours that young people might be dealing with, but fans have been critical of his sexualisation of female characters of the show, with theories that characters will be pushed into sex work by the end of the final season. All will be reviewed this spring. April 2026; Sky Atlantic

House of the Dragon

House of the Dragon is set almost 200 years before the Game of Thrones series – when the Targaryens were still riding dragons, long before Daenerys Targaryen’s time. House of the Dragons is one of the most anticipated TV shows returning in 2026, although its release date is unconfirmed at the moment. The show is suspected to air in August, according to actor Matt Smith in a recent interview with ITV. Late 2026; Sky Atlantic

How to Get to Heaven from Belfast

Three childhood friends in their late 30s – Saoirse, Robyn and Dara – come together after news of their old friend’s death and embark on a “hilarious odyssey through Ireland” in a hunt for the truth, according to creator Lisa McGee in an interview with Tudum. McGee also created the cult comedy Derry Girls, which holds a 99 per cent rating on Rotten Tomatoes.
Premieres February; Netflix

For more inspiration for the latest TV shows, films, books and theatre to book visit City AM Life&Style

King and Ascend could deliver Eustace a Swift double

RACING continues to come thick and fast in Hong Kong, with an 11-race programme at Sha Tin on Sunday following hot on the heels of the New Year card at the same venue on Thursday.

The feature race on the card, the Group Three Bauhinia Sprint Trophy (8.05am), a handicap over five furlongs, is full of the usual suspects, but with one exception, the David Eustace-trained COLOURFUL KING.

The son of Blue Point produced the wow factor when coming from last to first, and in the commentator’s own words “ran past them for fun”, over the course and distance in November, with jockey Zac Purton easing up in the closing stages.

On that form he is difficult to oppose, and despite his hefty penalty, carries only five pounds more in the saddle.

Top-weights Beauty Waves, Wunderbar and Invincible Sage should find this company less demanding from taking on the likes of Ka Ying Rising and Fast Network in Group One and Two contests this season, but it will still take a leap of faith to expect them to successfully concede weight to Colourful King.

Course-and-distance specialist Magic Control, who has won three times over the straight five furlongs, didn’t get too much luck behind Colourful King, but subsequently ran well when chasing home Sky Trust over six furlongs last month, and could make the frame.

Trainer David Eustace is capable of striking a quick-fire double, when he saddles top-weight SWIFT ASCEND in the Tai Tong Shan Handicap (8.40am) over six furlongs on the all-weather surface.

The son of Lord Kanaloa caught the eye when coming from miles back to finish a fast-closing third to Gorgeous Win, after suffering a tough and wide journey at his first attempt on the surface early last month.

With a favourable inside gate in two to exit from, he should get a dream journey and be hard to stop in the closing stages.

Last-start winner Victory Sky, also well drawn in three, looks the principle threat, but keep an eye on Super Joy N Fun who was given too much to do in the race won by Victory Sky, and with more luck could be capable of causing a surprise.

POINTERS

Colourful King                8.05 am             Sha Tin

Swift Ascend                   8.40am             Sha Tin 

Sagacious Life looks Smart enough for Purton

WITH the all-important Four-Year-Old Classic Series starting with the Classic Mile at the beginning of next month, it is imperative for many stables that their potential contenders have a rating high enough to take part in the contests.

One horse that has no such worries about his present rating is lightly raced, but potentially smart, SAGACIOUS LIFE, who will use the Leighton Handicap (7.35am) over a mile as a stepping stone to the Classic Mile.

The former four-time winner in Brazil, reached a rating of 90 after winning on his debut over the course and distance in October, and subsequently lost little in defeat when inexperience and a troubled journey saw him finish a close-up sixth to smart Hong Lok Golf.

With a recent trial suggesting he has made giant strides since November, a favoured inside gate three, and Zac Purton sufficiently impressed to take the ride, he should take plenty of beating.

Opposition includes another Four-Year-Old Series contender in Top Dragon, who should appreciate the step up in distance, and old campaigner Karma, who will be fit after his seasonal run, and is likely to outrun his odds.

The Tai Tong Handicap (9.50am) over a mile is another contest which may have some bearing on the forthcoming Four-Year-Old Series, and notably features the former Ralph Beckett-trained Seraph Gabriel.

The son of Saxon Warrior was beaten in a photo in the Golden Gates Handicap at Royal Ascot in June, and, now housed with the David Eustace stable, has impressed work-watchers with a series of encouraging trials, including two over a mile on turf.

He will not be far from peak condition but has some experienced four-year-old campaigners to contend with, including the likes of Everyone’s Star, Pope Cody and Wukong Jewellery.

Lightly-raced SMART AVENUE also catches the eye after a couple of encouraging efforts behind Invincible Ibis, and notably when coming with a sustained run to gun down Everyone’s Star over seven furlongs last month.

That form can be upgraded with him having come from a double-figure draw, and with gate two a plus, he should have a rails-hugging journey and be hard to keep out of the frame.

POINTERS

Sagacious Life                 7.35am                      Sha Tin

Smart Avenue e/w        9.50am                      Sha Tin

City minister: FTSE 100 record proves London’s got its spark back

The FTSE’s 10,000 point milestone is a sign of global confidence in London’s capital markets, writes City minister Lucy Rigby

This morning the FTSE 100 broke through 10,000 points for the first time in its history. That is a milestone moment for the index, for our capital markets and for the millions of savers whose futures are tied to the strength of the UK economy. 

Last year, the FTSE 100 rose by around 21 per cent – its strongest year since 2009 – and outperformed the S&P 500.

You can see that new confidence in the recent listings we’ve secured. Princes Group – the owner of household names like Flora and Napolina – chose London. So did Shawbrook Bank and the Beauty Tech Group, showing the depth, sophistication and international reach of our capital markets. 

London’s attractions are manifest and growing. Last summer’s overhaul of the UK listing rules made our regime more flexible and more competitive. That is why Fermi America completed the first ever dual listing – exactly the kind of innovative play we want to see. 

We’ve backed those regulatory changes with targeted tax reform. Our three-year Stamp Duty relief for new IPOs is a clear signal: if you are an ambitious company looking to go public, London wants you here – and we are prepared to put our money where our mouth is. Alongside that, we are deploying British Business Bank funding to support scaling firms so that more of them can stay, list and grow in the UK rather than feeling they must look abroad. 

How to keep the momentum in 2026

And we are going further. This month, changes to the Prospectus Rules are going live and later this year we are delivering PISCES, a brand-new type of stock exchange for private company share trading, setting the stage for UK businesses to thrive, grow and strengthen our economy. 

The result is what we are now seeing across the market: the City’s spark is back. 

But this moment is about more than transactions in the Square Mile. It is about the wider stability and confidence that underpins a healthy stock market – a climate that’s seen six interest rate cuts, £340bn of private investment into the UK and the IMF forecast that the UK will be the second-fastest growing economy in the G7 over the next two years. 

This is the backdrop to today’s FTSE 100 record: a country that has started to restore stability and attract long-term investment at scale. From major financial institutions expanding in the City to the new Revolut HQ in Canary Wharf, and increased investment in Edinburgh, Leeds, Birmingham and many other cities besides, global firms are voting with their feet – and choosing Britain. 

We are determined to keep this momentum going in 2026. My ambition is a City that is once again the outstanding, obvious choice for the world’s most exciting companies, to the benefit of the country as a whole. Our strong 2025 listings performance and breaking of the 10,000 mark are very positive steps in the right direction. 

Lucy Rigby KC MP is economic secretary to the Treasury

Interactive Brokers’ Individual and Hedge Fund Clients Outperformed the S&P 500 on Average in 2025

Interactive Brokers (Nasdaq: IBKR), an automated global electronic broker, today announced that its clients outperformed the S&P 500 Index in 2025, reflecting the benefits of cost efficiency, execution quality, and broad access to global markets.

In 2025, Interactive Brokers’ individual clients achieved an average return of 19.20%, compared with the 17.9% return of the S&P 500 Index. During the same period, Interactive Brokers’ hedge fund clients achieved an average return of 28.91%, outperforming the index by approximately 11 percentage points.

These results demonstrate how Interactive Brokers helps enhance client returns across the investment lifecycle. Global market access enables clients to allocate capital across various regions and asset classes, while lower trading and financing costs, along with efficient execution, help IBKR investors retain more of their returns over time.

“Investment returns are not just about picking the right trades. They are influenced by the costs you pay, the prices you get, and how efficiently your capital is put to work,” said Thomas Peterffy, Founder and Chairman of Interactive Brokers. “When investors pay less in fees and trade with efficient execution, those advantages add up and compound over time. All of this is more evidence that the best-informed investors choose Interactive Brokers.”

How Interactive Brokers Helped Support Client Success in 2025:

IBKR is Nasdaq-listed, a member of the S&P 500, and serves more than 4 million clients worldwide, with over $750 billion in client assets.

The best-informed investors choose Interactive Brokers.

To learn more about how IBKR helps clients invest efficiently, visit:

For Individuals:
Canada: IBKR Client Outperformance
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United Kingdom and Dubai: IBKR Client Outperformance
Europe: IBKR Client Outperformance
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United States and all other countries served: IBKR Client Outperformance

For Hedge Funds:
Canada: IBKR Hedge Fund Outperformance
Singapore: IBKR Hedge Fund Outperformance
Hong Kong: IBKR Hedge Fund Outperformance
Australia: IBKR Hedge Fund Outperformance
United Kingdom and Dubai: IBKR Hedge Fund Outperformance
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United States and all other countries served: IBKR Hedge Fund Outperformance

Returns shown are based on aggregate data for Interactive Brokers accounts meeting minimum thresholds as of January 1, 2025 ($50,000 for individual accounts and $1,000,000 for hedge fund accounts). Results may vary significantly among clients. Comparisons to the S&P 500 are for informational purposes only.

About Interactive Brokers Group, Inc.:
Interactive Brokers Group, Inc. (NASDAQ: IBKR) is a member of the S&P 500. Its affiliates provide automated trade execution and custody of securities, commodities, foreign exchange, and forecast contracts around the clock on over 160 markets in numerous countries and currencies from a single unified platform to clients worldwide. We serve individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation have enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments. Interactive Brokers has consistently earned recognition as a top broker, garnering multiple awards and accolades from respected industry sources such as Barron’s, Investopedia, Stockbrokers.com, and many others.

Follow Interactive Brokers on social media:
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Interactive Brokers clients outperforming S&P 500 in 2025 due to lower costs, global market access, and efficient execution

Contact

Contacts for Interactive Brokers Group, Inc. Media: Katherine Ewert, media@ibkr.com

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Interactive Brokers (Nasdaq: IBKR) announced that its clients outperformed the S&P 500 Index in 2025.

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“Investment returns are not just about picking the right trades. They are influenced by the costs you pay, the prices you get, and how efficiently your capital is put to work,” said Thomas Peterffy, Founder and Chairman of Interactive Brokers.

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Why Squad Cost Ratio rules can’t afford to ruin joy of Premier League

Trevor Watkins, global head of sport at Pinsent Masons and Former director and chairman of AFC Bournemouth, discusses why changes in Premier League football’s financing rules cannot afford to ruin the sport

With the Christmas period behind us, the traditional festive season of football fixtures – once a full list on Boxing Day but now almost a fortnight of top games – allows us all to put turkey and pudding to one side, and enjoy this tradition. Yet 2025 may well be looked back on as simply a prelude to further seismic changes within the game that will impact on the results of the teams we follow much more so than ever before.

The advent of the new Independent Football Regulator is gathering considerable momentum. It has recently set out how owners and senior executives will be vetted, monitored and penalised, should they break the rules the regulator will be putting in place for the better sustainable operations. 

In anticipation, leagues within English football have been making their own changes to their rules ahead of what the IFR may tell them to do. One of the most significant developments has been the introduction of new Premier League rules, voted on by clubs last month with 14 in favour. They are tests relating to finance nattily entitled the Squad Cost Ratio (“SCR”) and Sustainability and Systemic Resilience (“SSR”) tests.

Squad Cost Ratio vs SSR

The two elements address different aspects. The SCR is concerned with on-pitch finances; it states a club will be limited to incurring on-pitch costs of no more than 85 per cent of their football related revenue adjusted to take into account net profits or loss from player sales. Costs include player wages and also those of the head coach and payments made to agents. Other apparent “football” costs such as payments to other coaches, for administrative or commercial personnel are not included. 

“Football related revenue” basically includes all monies received by a club relating to football, whether from league led deals on media rights or other income generated by the clubs such as sponsorship, ticketing or from smart use of their stadium. The more successful a club is at generating revenue the greater the sum it can spend, without sanction on football related costs. Something, for example, that would be significantly impacted by the payments now being made pursuant to the Fifa Club World Cup and the boost it gives any competing side.

The SCR regime is not interested in what clubs do with their revenues or how they spend them elsewhere – other than on-pitch “football” costs, nothing else is taken into account. In introducing this, the Premier League did not converge with a similar Uefa rule which limits spending by any club in European competition to only 70 per cent of a club’s total revenue. 

Test for Premier League

Designed to bring in greater financial responsibility, sanctions can be applied if a club breaches the 85 per cent threshold. Rather than have a hard cut off, clubs will be allowed to go above the threshold by up to 30 per cent (as in 115 per cent of football revenues) without immediate fear of sporting sanction. It is likely that a fine would arise at 85 per cent to 115 per cent and potential points deductions for breaches above this.  

Alongside this, the SSR regime tests how clubs are projecting short, medium and long-term financial sustainability. It involves a working capital test for short-term cash resourcing across a season, liquidity test which considers two seasons and also the ability to handle any financial shocks that may arise (for example if the club were to plummet in form), and maintain long-term financial health. 

If the Premier League is concerned with a club’s financial projections it can address non-compliance by, “…voluntary spending limitations, cash injections, or the rebalancing of their debt/equity position. Where a club does not proactively take action to remedy its financial position and/or it has a consistent track record of unsustainable activities, the Premier League will intervene through enhanced monitoring, and other sanctions (unless the Premier League Board considers that exceptional circumstances apply).” 

Premier League change

Given developments in other leagues where media rights have collapsed, for example in France, or where issues have arisen with key sponsorship agreements then these tests are likely to be highly relevant to how adept owners are at managing club financing. I am seeing a huge increase in our work in advising on the buying, selling and financing of teams, particularly from access to waves of private capital across sport. These changes make that only likely to increase. 

So, who will win, draw or lose from these new rules? One might point to lawyers – I’d never have expected 25 years ago that many firms, including my own, would be immersed in handling challenges to, and defending charges brought against, the rules of football; cases that arguably impact on where a club finishes in any given season rather than simply results on the field of play. It’s not the first time that changes have been made, something that I’ve experienced throughout my 25 years-plus having owned AFC Bournemouth on behalf of the town and operated it for five years working subsequently across a very wide range of transactions for owners and funders alike across all leagues. We were one of six clubs choosing to vote against the new rules. 

The new rules arguably favour larger teams that can attract significant crowds and drive global commercial revenues. As the revenues increase, for example with the Fifa Club World Cup, then those clubs that do not have such opportunities but have relied more heavily on developing extensive scouting and talent identification processes may find themselves slipping behind. There again, having money does not necessarily mean that success will follow. 

The reality

With Uefa and now the Premier League also preventing the selling of assets between the companies within a group, clubs will be under greater scrutiny. Chelsea and Aston Villa were both found to be in breach of Uefa cost controls and received substantial financial penalties. 

Considering the SCR system, clearly the largest clubs will be best placed to demonstrate that their revenues are sufficient. Given the gap between the top four and other teams, those falling outside of that group will  arguably struggle to make up that gap. 

Ultimately however positions in the league will be determined by results on the pitch.

Having seen one of the most epic games in the Premier League in December where Manchester United tied 4-4 with AFC Bournemouth, this competition continues to be outstanding. The rule changes notwithstanding, the game will still provide huge entertainment and surprise, upset and memories. 

Football is a huge business. It attracts significant investors and funders. As one of the world’s largest sectors sport and associated entertainment and those owning or financing will likely welcome increasing restrictions. The acid test of their success, however, will be in ensuring they do not diminish the element of surprise and preserve the expectation and hope that we all have not just during this period, but any day of the year for the teams we support.

Embracing elective dictatorship could save Starmer

Starmer’s government should be the most powerful in the West. To save the Labour party he must remember that in 2026, writes John McTernan

January, like the Roman god Janus who the month is named after, faces two ways. The turning of a new year allows you to look backwards: it is a time for reflection on achievements measured against aspirations; a moment of honest and searching stocktaking. It is also the opportunity for looking forward and making New Year’s resolutions – what will you change? As Prime Minister Starmer returns to Downing Street for the new political year, what should his resolution be?

The coming year will be a severe test for the Labour government. The Prime Minister and his Chancellor Rachel Reeves are now two of the most unpopular politicians ever to have held their posts – even compared to Margaret Thatcher and Liz Truss at their lowest ebb. This May will bring the closest the UK has to the “mid-terms” in the US.

There will be votes in elections to the Scottish Parliament, the Welsh Senedd, all London Boroughs and many councils across England. In each and every contest, humiliation is expected for Labour – unsurprisingly given the party’s support has nearly halved from 34 per cent to 18 per cent since the 2024 election.

So, in Lenin’s phrase, what is to be done? It is time for Keir Starmer to resolve to be a politician – to wield power for ideological reasons to change the country for good.

Labour’s government should be the most powerful in the West

A first step would be to get No 10 staff to read a copy of Lord Hailsham’s 1976 Dimbleby Lecture in which he coined the phrase “elective dictatorship”. The case Lord Hailsham made was that an elected government in the UK with a working majority in the House of Commons could do what it liked. Despite the innovations of the Human Rights Act and the Supreme Court, this remains true. There is no more powerful elected government in the West than a UK government with a landslide majority.

This fact should be an antidote to the endless whingeing from the centre about “how hard it is to be a government”. It’s the bond markets, the civil service, the regulatory state, even the very layout of 10 Downing Street itself. Willed powerlessness, all of it. Every single unpopular move of the government has been self-inflicted. Cutting winter fuel payments. Refusing to lift the two-child benefit cap until forced by backbenchers. Proposing then abandoning punitive cuts on disability benefits. Being unclear whether the UK is or isn’t an “island of strangers”. The “hokey-cokey” Budget – floating then abandoning income tax increases. All made in No 10 or No 11.

Starmer can be ruthless

The tragic irony is that, when he cares, Keir Starmer is a ruthless political operator. Using the full force of the law against the racist rioters. Deploying King Charles to flatter President Trump. Slashing foreign aid to increase defence spending. Forcing a private member’s bill on assisted dying through parliament as though it is a government legislation. Unsentimentally sacking staff and colleagues.

Now imagine that single-minded energy – plus the firepower of government – aimed at a transformative political project. It could be big, like actually building the promised 1.5m homes by marshalling land, labour and capital. Or small, like by starting with the blindingly obvious: a ban on smartphones in schools – a reform that teachers, parents and pupils would welcome. Or definitional, like negotiating a new deep relationship with the European Union.

That’s what a New Year’s resolution to be a politician would mean. Find a cause, prosecute a case, pick a fight – and win. But it begs a much bigger question – that of political purpose. Technocrats get buried in bureaucracy and process, political leaders have a cause. Whether it is reducing inequality, shifting the balance of power between from capital to labour, the green transition or, as Mayor Mamdani says “affordability”, they have a heuristic.

Great governments have great causes. So, Keir, in the words of a taxi driver to Betrand Russell: “What’s it all about?”

John McTernan is a political strategist and commentator and former adviser to Tony Blair

Knight Frank appointed for bumper Brighton Palace Pier sale

Knight Frank has been instructed on the sale of Brighton Palace Pier, two months after the Grade II-listed landmark’s owners revealed their plans to offload the amusement park amid a barrage of economic headwinds.

The Brighton Pier Group appointed the property giant to seek a buyer for the coastal attraction, which its operator said in its latest accounts has been beset by an “extremely challenging trading environment”.

Brighton Pier Group’s sale plans

The pier, one of the UK’s most recognisable leisure destinations, first opened in 1899 and extends over 1,700 feet into the English Channel.

It boasts two arcades, 19 funfair rides, a restaurant and events space, and has acted as the backdrop for several films and television productions.

Its sale is part of a broader push by Brighton Pier Group to offload much of its portfolio. The changes were first disclosed in November, just six months after the group quit the London Stock Exchange in favour of private ownership.

In its first set of accounts as a non-listed company, the group confirmed it was “exploring opportunities for the potential sale of some or all of its remaining assets.

As well as owning the south coast pier, the holding group also operates a chain of mini-golf sites and Yorkshire’s Lightwater Valley Adventure Park.

“The proposed sale of the pier forms part of our strategy to divest our leisure assets and return capital to shareholders. Brighton Palace Pier is a profitable, standalone business with significant potential to build on its already strong popularity,” said Anne Ackord, chief executive of the Brighton Pier Group.

“This is more than just the sale of an asset: it is an opportunity to become part of the next chapter in a remarkable story and shape the future of this national treasure.”

Brighton Palace Pier sale follows ‘persistent trading challenges’

The group’s plan to sell off the leisure attraction comes as the hospitality industry wrestles with a bleak macroeconomic backdrop of stuttering demand and higher costs.

The sector has proven to be among the most exposed to the government’s successive tax-raising budgets, which have disproportionately targeted industries that tend to employ low-paid or part-time staff thanks to large hikes to the living wage.

The £24bn raid on employer National Insurance contributions unveiled in the autumn of 2024 included a near halving of the threshold at which the levy kicks in, leaving industries like hospitality and retail especially affected.

Much of the industry is also up in arms over a business rates shake-up in last year’s Budget, which has left many facing far larger property tax bills, despite ostensibly being handed a 5p cut.

Costs surge

Compounded by stubbornly high electricity bills, Ackord previously said Brighton Pier Group’s costs have risen by 50 per cent in a few years.

Simultaneously, its like-for-like sales fell four per cent in 2024 – the most recent year it has reported – prompting it to double its admission fee to £2 in March.

The group is chaired by Luke Johnson, who is also chair of Gail’s bakery, having previously run both Patisserie Valerie and Pizza Express. It bought the pier for £18m in 2016, before quitting London’s junior exchange Aim nine years later.

At the time, it said it had “carried out a careful review of the benefits and drawbacks” of its Aim listing, and blamed “persistent challenging trading conditions” for its decision to go into private hands.

John Rushby, partner and head of specialist leisure at Knight Frank, said: “Brighton and Hove continues to grow in popularity as one of the UK’s leading destinations.

“Positioned at the heart of the city, Brighton Palace Pier stands out as one of the country’s most significant heritage landmarks, offering a rare opportunity for a new owner to build on its strong foundations and further enhance its position as a premier leisure and hospitality destination. We are proud to be advising The Brighton Pier Group on this landmark sale.”

Activity in UK’s embattled manufacturing sector hits 15-month high

The UK’s embattled manufacturing sector took another small step towards recovery at the end of 2025 thanks to an influx of new orders.

The latest UK Manufacturing Purchasing Managers’ Index (PMI) from S&P Global UK hit a 15-month high as the industry continued to grow for the second consecutive month.

The PMI reading hit 50.6, up from 50.2 in November but below the previous flash estimate of 51.2.

Still, both readings remained above the all-important 50 mark, which indicates whether a sector is growing.

Confidence rose in December, driven by improving operating conditions: output and new orders rose, and suppliers’ delivery times lengthened.

But this was slightly offset by declines in stock purchases and employment, albeit to a lesser extent than in November.

“UK manufacturers benefited from several reduced headwinds towards the end of the year, as the negative impacts of the uncertainty surrounding the Autumn Budget, tariffs and the JLR cyber-attack all moderated,” Rob Dobson, director at S&P Global Market Intelligence, said.

Manufacturers sounded the alarm ahead of Rachel Reeves’ second Autumn Budget, warning the industry faced a make-or-break moment as tax speculation ran rife.

Make UK – the sector’s industry body – warned of an “existential threat” to the survival of many companies due to the rising price of industrial electricity prices.

The industry was also devastated by the cyber attack on Jaguar Land Rover, which forced the firm to halt car production.

The attack is estimated to have cost the UK around £1.9bn, with research from the Cyber Monitoring Centre (CMC), a non-profit group that tracks major cyber incidents, revealing that nearly 5,000 organisations were caught in the fallout.

The restart of production and the avoidance of major tax raids handed the sector a major boost, helping supercharge supply chains across the country.

“The start of 2026 will show if growth can be sustained after these temporary boosts subside,” Dobson said.

Manufacturers’ confidence takes hit

The UK’s domestic market powered manufacturing growth, with intakes of new work from overseas falling for the 47th successive month in December.

But Dobson warned that for continued growth, the “base of expansion needs to shift more towards rising demand and away from inventory building and backlog clearance”.

Despite the positive headline uplift, manufacturers surveyed in the PMI expressed nervousness for the year ahead.

Business optimism fell for the first time in three months in December, with manufacturing employment decreasing – at a slightly slower rate – for the fourteenth month running.

“Manufacturers reported they remain concerned about high costs, increased taxation, reduced international competitiveness, geopolitical uncertainty and the possible impact of Government policy,” the PMI said.

Make UK has warned of the consequences of the government’s Employment Rights Bill and inheritance tax raid on family firms on the industry.

Over the last few months, Labour has made significant U-turns on both policies, with a concession on day one rights following the Employment Rights Bill ping-ponging between the Lords and the Commons.

In late December, Labour handed farmers an early Christmas after increasing the Agricultural and Business Property Reliefs threshold to £2.5m from £1m.

FTSE 100 closes whisker away from 10,000 after intraday high

The FTSE 100 was heading to a close a whisker away from the 10,000 mark on Friday after sealing an intraday high in the first day of trading in 2026.

London’s blue-chip index climbed 0.3 per cent to finish the session near 9,962p.

The index was boosted by an early morning rally as markets opened, which sent the index to its next milestone at 10,003.68 marking an intraday high.

“It’s time to break out the champagne as UK stock markets have delivered a New Year’s treat,” Dan Coatsworth, head of markets at AJ Bell, said.

The FTSE 100 was boosted by City darling Rolls-Royce, which was among the top gainers, rising some 3.5 per cent to 1,191p.

Gold miner Fresnillo, which was the best blue-chip performer of 2025 with a rally of over 400 per cent, added 2.9 per cent

Defence stocks Babcock and BAE Systems were also driving the index higher by 2.7 per cent and 2.6 per cent respectively.

Of the fallers, British American Tobacco slumped over two per cent to 4,127p, before clawing back some gains.

Smith and Nephew and British Land edged down on soft house price data published on Friday morning, with losses of under one per cent.

Rebecca Maclean, investment director at Aberdeen Investments, said: “An impressive return for a region many investors continue to overlook. Notably, last year saw global equity leadership broaden, with almost every major market outpacing the US, as investors diversified their exposure.

Looking ahead, the UK market is expected to deliver solid earnings growth in 2026 and remains one of the cheapest equity markets globally, creating fertile ground for future returns. For those looking beneath the fizz, UK mid‑caps lagged last year’s rally and could present a compelling place for investors to focus next.”

Chancellor Rachel Reeves said on X the rally was a “vote of confidence in Britain’s economy and a strong start to 2026.”

FTSE 100 sealed 41 record closes in 2025

The FTSE 100 closed 2025 at 9,923.06, with a rise of over 20 per cent. The index closed on record highs on 41 different trading sessions throughout the year.

“So much for the UK being the home for old economy companies – the FTSE 100 has had precisely the ingredients desired by investors in a year full of political, trade and market uncertainty,” said Coatsworth.

But despite a glowing year for UK equities, not all shares enjoyed the rally.

Coatsworth said it is “somewhat ironic” that the country’s leading stock exchange operator was one of the FTSE 100’s worst performers in a “fantastic year” for UK shares.

Despite a minor spurt in December, the London Stock Exchange Group (LSEG) has tumbled 22 per cent over the last 12 months.

Advertising giant WPP has suffered a significant downturn after being forced to slash its outlook amid rising competition.

The firm’s stock fell by nearly 60 per cent in 2025 and was demoted from the FTSE 100 in December’s reshuffle.