Business
The fall and future of Manchester Pride
Jasmine Sandhar,BBC Newsbeat and
Pete Allison,BBC Newsbeat
Getty ImagesWhen Saki Yew stepped off stage at this year’s Manchester Pride, she felt “joyous”.
The former Drag Race UK queen had spent weeks rehearsing and creating costumes for the performance at the city’s Sackville Gardens in August.
It was effort she was happy to make for one of the UK’s biggest LGBTQ+ events, and the reaction from the crowd made it worth it.
But when she asked Pride’s organisers for her payment, she says there was silence.
The charity behind Manchester Pride went bust this week, leaving dozens of performers, vendors and backstage workers unpaid.
In a statement confirming it had gone into liquidation, bosses blamed a “combination of rising costs, declining ticket sales and an ambitious refresh of the format aimed to challenge these issues”.
But some believe repeated warning signs about the sustainability of the event weren’t heeded.
Warning signs
Manchester Pride started in 1985 as a two-week fundraising event.
Since then, it’s grown in size and influence, becoming the first UK organisation to add black and brown stripes to the rainbow flag to represent LGBTQ+ people of colour.
By 2025 Manchester was one of the biggest Pride events in the UK, alongside London and Brighton’s annual celebrations.
With its increasing size came bigger names, including Ariana Grande, Sophie Ellis-Bexter, Anastacia and Zara Larsson.
This year’s star-studded line-up featured Nelly Furtado, Olly Alexander, and former Little Mix star Leigh-Anne.
But behind the scenes there were signs all was not well, according to people who worked on this year’s event.
Abbie AshallEvent manager Abbie Ashall had worked for Manchester Pride since 2023, and was a project manager for this year’s parade.
She tells BBC Newsbeat many charities were hit hard by the Covid-19 pandemic, and there was evidence Manchester Pride had also been affected.
Abbie says she was given strict budgets to stick to, and noticed that former colleagues who left were not replaced.
Yet, at the same time, Abbie says, Pride’s organisers launched Mardi Gras this year – a two-day, ticketed event at Manchester’s high-capacity Mayfield Depot.
Attendees reported that crowds were small, and Abbie says the event was not considered successful.
Contractor Chris O’Connor worked at Manchester Pride for five years as a runner, a role he describes as a mixture of organisation and “troubleshooter-slash-firefighter”.
He says working in the run-up to previous Pride weekends had been “a joy”, but that 2025 had presented “red flags” and “major issues” for him to resolve from the start.
He believes Manchester Pride, which reported a loss of about £468,000 in 2023, should have had better control of the finances.
‘I rely on that money to live’
Both Chris and Abbie say they are still owed money for their work on 2025’s event.
In Chris’s case, he says not being paid prevented him visiting his son, who has just started university in Ireland.
Saki Yew tells Newsbeat she has “a life outside of drag” and “bills and groceries to pay for”.
Like Chris, Saki believes Pride’s organisers could have been more transparent about their financial troubles while people waited for payment.
“It’s highly disrespectful,” says Saki.
“You’ve kept us in the dark, you’ve just disrespected every single person on what they do and what they provide for you.”
Getty ImagesSome suspect the lack of communication from Manchester Pride’s organisers over payment is linked to its failed bid to host 2028’s Europride.
The international event usually attracts huge crowds, and Abbie believes Pride bosses were banking on “the funding that would have come with that from Manchester City Council and beyond”.
When it was announced that Limerick and Clare, in Ireland, had won the bid earlier this month, hopes for potential Europride investment disappeared.
“I think they took a massive swing and it was a miss,” says Abbie.
The exact details of the circumstances leading up to Manchester Pride going into liquidation aren’t yet known.
However, the Charity Commission, which works to ensure organisations in England and Wales comply with the law, is “assessing concerns” after Pride’s bosses submitted a “serious incident report relating to its finances”.
There are also questions about future events in Manchester, and what shape they will take.
Getty ImagesOn the streets of the city, it’s not hard to find people who attended this year’s Pride and want to see the celebration return.
Kieran, 24, from Oldham, believes “it’s something that everyone in Manchester looks forward to”.
“It brings all types of culture and people together,” he says.
Lexi agrees Pride is “a big part of not only the culture of this city, but so important for the community itself”.
“If we don’t have Pride, what else do we have?”
Lexi says attending Pride events after she’d just come out was “a really important time” and “it would be horrible for people to lose that opportunity”.
‘A new chapter’?
Manchester City Council has said it will “support a new chapter for Manchester Pride weekend, which will take place next August”.
Lexi is optimistic.
“I would be happy to put my money into something, especially if it’s going to go back to the community,” she says.
There had been complaints about staging events outside Manchester’s gay village and focusing on spectacle over supporting LGBTQ+ causes.
“Maybe there’s a way around it in creating a cheaper, more sustainable Pride,” Lexi hopes.
But for the workers that may depend on, trust has been lost as well as money.
“This charity is there to platform and support queer artists and practitioners,” says Abbie.
“For all of those people to be at a loose end when this is the charity that is meant to raise them up more than anybody – that’s where it’s deeply frustrating and really upsetting.”
The BBC approached Manchester Pride for comment but it did not respond.
In a statement shared on social media, Manchester Pride’s Board of Trustees expressed “regret” for delays in communication, but said it was “keen not to jeopardise financial opportunities while our discussions were ongoing”.
It said it had hoped to find a way to continue to support those who had contributed, and was “sincerely sorry for those who will now lose out financially from the current situation”.
“We have put our hearts and souls into the celebration and community activities over two decades,” it added.
“We hope and believe that this leaves a positive and lasting legacy for the Pride movement in Greater Manchester.”
Additional reporting by Georgia Levy-Collins.
Business
India’s $5 trillion economy push: How ‘C+1’ strategy could turn country into world’s factory
New Delhi: India is preparing for a major economic transformation. The Union Budget 2026-27 lays out measures that could make the country the top choice for global manufacturing using the popular ‘China +1’ (C+1) strategy. This comes as international companies rethink supply chains after COVID-19 disruptions, rising trade tariffs and geopolitical tensions.
India has positioned itself as the backup factory for the world that is ready to absorb international demand in case of any crisis in China or Taiwan.
The government has offered tax breaks for cell phone, laptop, and semiconductor makers, making India more attractive to foreign investors. Reducing bureaucratic hurdles for global firms, the budget also strengthens the National Single Window System to simplify business procedures. The message is clear: India is ready to step in as a global manufacturing hub, ensuring supply continuity for the world.
The expressway to a $5 trillion economy
China presently dominates about 40% of global manufacturing. Its factories supply critical products worldwide, but 2026 is expected to be a turning point. Expanding influence and economic opacity have made global companies seek alternatives.
India has leveraged this moment, offering a comprehensive incentive package for foreign manufacturers. Analysts call it more than policy; it is a blueprint to become a $5 trillion economy and reclaim India’s historic position as a global industrial leader.
Why the world needs India now
The COVID-19 pandemic exposed the dangers of over-reliance on a single supplier. When China halted medical exports, nations realised the need for diversified supply chains. Major companies such as Apple and Samsung now see India as a dependable alternative.
China’s aging workforce and rising labour costs further enhance India’s appeal. With 65% of its population under 35, India offers a vast, skilled and affordable workforce for decades. The geopolitical uncertainty surrounding Taiwan, which produces 90% of advanced chips, has also created demand for a secure manufacturing backup. India is stepping in to fill that gap.
How India stands to gain from China’s challenges
India’s budget, 2026-27, slashes import duties on cell phone and laptop components, turning the country into a hub for component manufacturing, not just assembly. Electronics exports are projected to cross $120 billion by 2025.
The government has also launched a Rs 1.5 lakh crore semiconductor mission, attracting companies like Tata and Micron to establish advanced chip plants in India. In the chemical sector, stricter environmental regulations in China have shut down several plants, benefiting Indian companies such as Privi Specialty and Aarti Industries, which are now filling gaps in global supply chains.
Incentives for companies
The Production Linked Incentive (PLI) scheme promises cash rewards for output, covering over 14 sectors. This is India’s answer to Chinese subsidies. From land acquisition to electricity connections, the National Single Window System now enables businesses to clear all approvals through a single portal.
Infrastructure investment has also received a massive boost, with Rs 11.11 lakh crore allocated under PM GatiShakti. New ports and dedicated freight corridors are being built to ensure that exports from India reach the world faster and cheaper than ever before.
India’s moves points to a strategic shift in global manufacturing. By rolling out the red carpet for foreign companies and investing heavily in infrastructure, technology and policy reforms, the country is poised to become the go-to destination for global supply chains. The C+1 formula is not only a concept; it is a roadmap to turn India into the next industrial superpower and a $5 trillion economy.
At a time when global markets are witnessing high volatility due to geopolitical uncertainties, the hike in securities transaction tax (STT) on derivatives trades hit investor sentiment on Dalal Street on the Budget day. This in turn led to a sharp sell-off that pulled the sensex down by nearly 1,500 points—its biggest points loss on a Budget day—to close at 80,773 points. The sell-off also left investors poorer by Rs 9.4 lakh crore, the biggest Budget day loss in BSE’s market capitalisation.The day’s trading was marked by high volatility. The sensex rallied over 400 points as FM started her speech, fell about 1,100 points after the STT hike proposal was announced, partially recovered by mid-session to trade 600 points down on the day and then sold-off to close below the 81K mark for the first time in four months.On the NSE, Nifty too treaded a similar path to close 495 points (2%) lower at 24,825 points. Fund managers and market players feel the day’s sell-off was overdone, compounded by the absence of most institutional players since it was a Sunday. “The market’s reaction (to the hike in STT rates) was a bit overdone, although the decision itself was unexpected,” said Taher Badshah, President & Chief Investment Officer, Invesco Mutual Fund. “I think markets should settle down in 2-3 days.” Badshah said the Budget was in line with govt’s set path of the past few years, showing a conservative approach to setting targets.“The revenue and expenditure targets for FY27 are achievable. And since the rate of inflation is lower now, the nominal GDP growth rate of 10% may turn out to be on the higher side as inflation normalises during the year,” the top fund manager said. In Sunday’s market, of the 30 sensex stocks, 26 closed in the red. Among index constituents, Reliance Industries, SBI and ICICI Bank contributed the most to the day’s loss. Buying in software services majors Infosys and TCS cushioned the slide. In all, 2,444 stocks closed in the red compared to 1,699 that closed in the green, BSE data showed.STT hike aimed at curbing F&O speculation The decision to raise securities transaction tax (STT) for trading in equity derivatives means trading futures & options (F&O) will be more expensive from April 1. STT on futures trading rises from 0.02% to 0.05% now, and on options premium and exercise of options to 0.15% from 0.1% and 0.125% respectively. This could more than double statutory costs of trading F&O contracts.While the move is to curb excessive speculation by retail traders who mostly suffer losses, investors sold stocks of those companies that derive a large portion of their turnover from this segment. Stock price of Angel One crashed nearly 9%, BSE crashed 8.1%, Billionbrains Garage Ventures that runs the Groww trading platform, lost 5.1% and Nuvama Wealth Management lost 7.3%. STT hike follows a Sebi survey that showed that 91% of the retail investors lost money in the F&O market with average loss per investor surpassing Rs 1 lakh per year. Institutional and some high net worth players took home most of the profits from the segment.18% GST on brokerage for FPIs removedThe Budget proposed to do away with 18% GST charged on the brokerage that foreign portfolio investors pay in India. Among the host of changes to the GST laws that the finance minister proposed, one was abolishing clause (b) of sub-section (8) of section 13 of the Integrated Goods and Services Tax Act, 2017. This is being “omitted so as to provide that the place of supply for ‘intermediary services’ will be determined as per the default provision under section 13(2) of the IGST Act,” the Budget proposal said.
Buying property from an NRI? Worried about obtaining TAN? Not anymore. To relax the compliance burden, the Budget has proposed that resident individuals and HUFs need not have a Tax Deduction and Collection Account Number (TAN) if they are purchasing a property from a non-resident Indian (NRI). The amendment will take effect from Oct 1, 2026.Under the proposed framework, resident individuals or HUFs can report the tax deducted at source (TDS) by quoting PAN, as is done when the transactions are between two residents. Presently, if a person buys an immovable property from a resident seller, the person is not required to obtain TAN to deduct tax at source. However, where the seller of the immovable property is a non-resident, the buyer is required to obtain TAN to deduct tax at source.Ameet Patel, partner at Manohar Chowdhry & Associates, said this used to be a detailed process. “At present, if a resident were to purchase an immovable property from an NRI, there is no separate relaxation regarding compliance with TDS responsibilities. As a result, in such cases, the buyer needs to obtain a TAN, register on the portal, and then deduct TDS u/s. 195, and pay to the govt. Under section 195, as with all other regular TDS sections, a quarterly e-TDS statement is required. A buyer would need professional help for all this.”Hinesh Doshi, CA, welcomed the move. “There used to be an unnecessary compliance burden due to this. While the process to obtain TAN is simple, people used to obtain TAN for just one transaction. So, this is a good riddance.”
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