Political Tensions Rise in the UK Amid Key Regulatory and Security Changes

Key stories from the Financial Times include Labour Party political tension as Andy Burnham is blocked from a by-election, calls for the abolition of the water regulator by private companies, and significant fee cuts by Hargreaves Lansdown amid growing competition.

The Labour Party in the UK is facing mounting tensions as Greater Manchester Mayor Andy Burnham is barred from standing in the Gorton and Denton by-election. This decision has sparked a political backlash, highlighting underlying divisions within the party.

In the water industry, privatised companies are increasing pressure on the government to accelerate plans for the abolition of the regulator Ofwat, seeking more autonomy in the sector. This move comes as part of a broader call for deregulation among industry giants.

Meanwhile, financial services firm Hargreaves Lansdown is reducing its annual account and share-dealing fees for about half of its customer base while introducing a new fund trading charge to stay competitive. In another significant development, British Home Secretary Shabana Mahmood is set to announce a restructuring proposal moving counter-terrorism and organized crime duties to a new national police force in England and Wales.

(With inputs from agencies.)