The Sunday Times Rich List has today been released, revealing that Sir Jim Ratcliffe remains the richest man in the North West, and third-richest in the country.
The annual list names the richest of the rich across the UK, and the combined wealth of the 350 individuals and families listed in 2024 amounts to more than the GDP of Poland at £795.361 billion.
As well as Sir Jim Ratcliffe, who remains on the Sunday Times Rich List despite losing more than £6bn this year, other famous names include David and Victoria Beckham, Sir Elton John, and Lord Lloyd-Webber.
Representing the wealthiest in the North West are Michael Platt, The Duke of Westminster and the Grosvenor family, and Home Bargains boss Tom Morris.
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The billionaire Issa brothers who own Asda and founded EG Group complete the top five richest people regionally.
Local man Sir Jim Ratcliffe, who made his billions through chemical giant Ineos, has almost double the wealth of runner-up Michael Platt.
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Harry Styles has made it onto the Sunday Times Rich List.
He recently ran the London Marathon at the age of 71 and secured a 25% stake of his childhood football club Manchester United.
The Duke of Westminster, who inherited his title and a huge land and property portfolio at the age of just 25, remains the richest person under 40 in the UK.
Now 33 years old and recently moved to Cheshire, his fortune now stands at £10.127 billion.
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He’ll soon lose his title as the ‘UK’s most eligible bachelor’ though, with the Duke set to marry Olivia Henson at Chester Cathedral next month.
Robert Watts, compiler of the Sunday Times Rich List, said: “This year’s Sunday Times Rich List suggests Britain’s billionaire boom has come to an end. Many of our home-grown entrepreneurs have seen their fortunes fall and some of the global super rich who came here are moving away.
“Thousands of British livelihoods rely on the super-rich to some extent. We’ll have to wait and see whether we have now reached peak billionaire, and what that means for our economy.
“These may be harder times to create wealth, but The Sunday Times Rich List continues to unearth entrepreneurs building fortunes in diverse and often surprising ways. This year’s new entries include people who have made money from artificial intelligence and virtual worlds as well as plumbing supplies and teaching aides.
“We know many of our readers find such people — especially those from humbler backgrounds — very inspiring.”
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The minimum entry to get onto the mega-rich list this year is a whopping £350m.
Government launches £442m drive to get rough sleepers off streets before Christmas
Emily Sergeant
Prime Minister Andy Burnham has launched a £442m drive to get rough sleepers off the streets before Christmas.
Learning from ‘innovative’ approaches put into place during the pandemic, the Government has announced that new accommodation will be rolled out across England this winter, as well as offering practical help with housing, health, and other needs to support people to build a more stable life for themselves in the future.
The new commitment to offer everyone a route off the streets this Christmas, along with boosted funding, reflect the Andy Burnham‘s national drive to make ‘real change’ and get everyone playing their part in ending rough sleeping.
Not only will these plans change the lives of rough sleepers, but it’s also said they will have huge benefits for the country as a whole.
Research from homelessness charity Crisis suggests that by preventing 40,000 people from becoming homeless for a year, taxpayers could save around £370 million.
The Government has launched a £442m drive to get rough sleepers off the streets before Christmas / Credit: Number 10 Press Office | Jon Tyson (via Unsplash)
As well provisions to get people off the streets, and the intensive ‘wraparound’ support, the newly allocated funding will also help local areas deliver more than 1,000 ‘settled’ homes over the next three years, it has been confirmed.
Areas facing the greatest pressures will receive the largest share of support.
Working alongside councils, Mayors will play a leading role in driving local action to end rough sleeping, and will be tasked with making decisions that are right for their communities to deliver help where it’s needed most.
The Prime Minister says he ‘won’t accept’ rough sleeping any longer. He commented: “No one should have to bed down in a doorway or outside a station, but we’ve seen it for so long that it feels like Westminster has started to accept it.
“That’s why my first instruction as Prime Minister was to end rough sleeping, and it’s why today we’re getting started with a national drive to get everyone in for Christmas. We did it in the pandemic, we can do it again. But it needs all of us.
“Government will put the money in, but I’m asking leaders in communities and sectors across society to play their part locally too.
“Let’s get people out the cold, and let’s bring back hope.”
Featured Image – Gary Knight (via Flickr)
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Trainline and Virgin Atlantic among companies being investigated for ‘misleading’ pricing
Emily Sergeant
A number of companies are currently under investigation for ‘misleading’ pricing practices.
The Competition and Markets Authority (CMA) has launched three new consumer protection investigations into Trainline, Virgin Atlantic, and RED Driving School over concerns that customers were not shown the total price upfront when buying things like train and coach tickets, holidays, or even driving lessons.
The investigations are part of a wider CMA clampdown on misleading pricing practices – in this instance, where mandatory charges are separated from the headline price, or added later in the buying process, which is known as drip pricing.
These practices leave consumers facing ‘unexpected’ costs or having to calculate the so-called true cost themselves.
Such practices can also impact competition between businesses, as a firm using drip pricing may falsely appear to be cheaper than a competitor pricing correctly, and therefore attract more customers.
Trainline and Virgin Atlantic are among the companies being investigated for ‘misleading’ pricing / Credit: Northern | Aric Cheng (via Unsplash)
Trainline is being investigated over whether all mandatory fees have been included in the upfront prices displayed to consumers buying tickets in advance on its app and website, while Virgin Atlantic’s investigation will focus on whether mandatory resort fees and local taxes have been included in the upfront prices shown to customers buying package holidays.
RED Driving School is being investigated over how a mandatory booking fee and ‘digital’ fee have been displayed to people booking driving lessons – specifically whether these fees have been included in the total upfront price.
“At a time when many households are watching every pound they spend, it is important that people are not surprised by extra fees,” commented Emma Cochrane, who is the Executive Director for Consumer Protection at the CMA.
“Clear pricing helps people compare offers confidently and choose the option that works best for them.
“Unexpected mandatory charges make this much harder, which is why the CMA initially put these firms on notice over concerns about their pricing practices and is now opening formal investigations.”
The CMA says it’s at the beginning of its investigations and has reached no conclusions about whether these firms have broken the law.
If it finds there has been an infringement of the law, the CMA can order businesses to pay compensation to affected customers or be charged up to 10% of global turnover.
Daisy Jackson -
17th May 2024 
