Category: Press Releases

  • PRESS RELEASE : Technology Working Group publishes report on fund tokenisation [November 2023]

    PRESS RELEASE : Technology Working Group publishes report on fund tokenisation [November 2023]

    The press release issued by HM Treasury on 24 November 2023.

    The City Minister’s forum for examining the impact of technology on the UK’s investment management sector publishes its first report.

    Following its re-establishment in April 2023,  the Economic Secretary to the Treasury’s Asset Management Taskforce established a Technology Working Group –  chaired by Michelle Scrimgeour, CEO of Legal and General Investment Management – to examine the impact of new technology on the asset management sector.

    This group of industry experts – working closely with the Financial Conduct Authority and HM Treasury – have focused the first phase of their work on creating a blueprint for implementing fund tokenisation in the UK, recognising the revolutionary potential of this technology to propel the asset management sector forward.

    The Technology Working Group have today published UK Fund Tokenisation – A Blueprint for Implementation.

    The government warmly welcomes this publication. It will advance the wider conversation on the role of technology in asset management, and signals that the UK is welcoming of innovation and open for the exciting new business of the future.

    Background

    Tokenisation refers to the issuing of units that are recorded on a distributed ledger, as opposed to units that are recorded on more traditional systems of record-keeping. Transitioning the existing operational infrastructure underpinning investment funds onto a distributed ledger will drive further efficiency and transparency within the sector, and improve its competitiveness.

    Technology Working Group members

    • IA
    • LGIM
    • HMT
    • FCA
    • EY
    • Legal & General Investment Management
    • Fidelity International
    • Baillie Gifford
    • Blackrock
    • JP Morgan Asset management
    • M&G
    • Schroders
    • Archax
    • Aquis Exchange
    • Augmentum
    • Calastone
    • CMS
    • Copperco
    • Galaxy Digital
    • Hargreaves Lansdown
    • Innovate Finance
    • London Stock Exchange Group
    • NEST
    • Northern Trust
  • PRESS RELEASE : Autumn Statement ushers in new era of welfare reform [November 2023]

    PRESS RELEASE : Autumn Statement ushers in new era of welfare reform [November 2023]

    The press release issued by HM Treasury on 24 November 2023.

    A bold new vision for welfare backed by nearly £30 billion has been set out by Work and Pensions Secretary Mel Stride.

    • Millions of people will benefit from next generation of welfare reforms and extra support for those most in need, announced at Autumn Statement
    • Benefits increased by 6.7% and pensions by 8.5%, maintaining commitment to seeing the country through cost of living pressures
    • DWP Secretary Mel Stride heralds new era offering a “brighter future for millions”

    The plans offer unprecedented employment and health support to help over a million people, while protecting those in most need from cost of living pressures – including raising pensions and benefits and increasing help with housing costs.

    Long term decisions to provide unprecedented help for people to move off welfare and into work were at the heart of the Government’s plan for growth set out at the Autumn Statement.

    While unemployment has been almost halved since 2010, the £2.5bn Back to Work plan will help thousands of people with disabilities, long-term health conditions and the long-term unemployed, to move into jobs. This comes alongside new guarantees for those on the highest tier of health benefits around keeping benefit support to cushion those who try work.

    The transformative employment programme comes as the Government continues to protect the most vulnerable, delivering a Triple Lock-protected boost for pensioners and raising benefits in line with inflation next year, worth £20bn taken together.

    The changes mean the full rate of the new State Pension will go up by £17.35 per week, while families on Universal Credit will be on average £470 better off next year.

    Around 1.6 million households will also benefit from an increase to the Local Housing Allowance – and will be around £800 a year better off on average. Worth more than £7bn over five years, this commitment will support low-income families in the private rented sector with rent costs and help prevent homelessness.

    Secretary of State for Work and Pensions, Mel Stride MP said:

    Work changes lives. With the next generation of welfare reforms, we will help thousands of people to realise their aspirations and move off benefits into work, while continuing to support the most in need.

    We are taking long term decisions that will build a brighter future for millions, offering unprecedented support to open up opportunity and grow the economy, building on our record that has seen almost four million more people in work since 2010.

    Our reforms will remove the barriers to work that we know some people still face, while we’re boosting benefits and pensions to help with cost of living pressures.

    Welfare reforms announced at the Autumn Statement include:

    • Uprating working age benefits in line with September’s CPI index figure of 6.7%.
    • Uprating state pensions in line with September’s earnings figure of 8.5%.
    • Increasing the Local Housing Allowance to cover the 30TH percentile – worth an average of £830 per year.
    • Expanded jobcentre support including intensive help for those on Universal Credit
    • Introducing the Chance to Work Guarantee, which will tear down barriers to work for millions of claimants to try work with no fear of reassessment or losing their health benefit top-ups.
    • Increasing mental health support for jobseekers by expanding NHS Talking Therapies treatment and the Individual Placement and Support programme, supporting almost 500,000 over five years.
    • Matching 100,000 people per year with existing vacancies and supporting them in that role through Universal Support.
    • Rolling out WorkWell to support people at risk of falling into long-term unemployment due to sickness or disability.
    • Reforming the Work Capability Assessment for new health benefit claimants to better reflect the opportunities available in the modern world of work.
    • Stricter sanctions for people who should be looking for work but aren’t engaging with jobcentre support.
    • Building on the Mansion House reforms with further steps to improve private pension returns and grow the economy.
    • Introducing new Government powers to request data from organisations such as banks when accounts are showing signals of fraud and error.

    The Government’s radical new plan will stem the flow people falling out of work and onto inactivity benefits due to physical or mental health problems, as it takes the long-term decisions to help people realise their dreams to find a job and build a better life.

    With this unprecedented level of employment support comes tougher enforcement of sanctions for fit and able people who should be looking for work but aren’t.

    Work coaches will use tools to track people’s attendance at jobs fairs and interviews, and close benefit claims of those able to work who have been sanctioned and no longer receiving money after six months.

    Taken together, the package will make sure those who are vulnerable or on the lowest incomes are protected, with intensive support to get them back into work, while ensuring fairness to the taxpayer.

  • PRESS RELEASE : Nissan triples investment in electric vehicle production in the UK [November 2023]

    PRESS RELEASE : Nissan triples investment in electric vehicle production in the UK [November 2023]

    The press release issued by 10 Downing Street on 24 November 2023.

    Nissan is delivering up to £2 billion of new investment to produce two new electric vehicle models in Sunderland.

    • Car manufacturing giant Nissan to manufacture two new electric vehicle models and expand North East electric vehicle hub in Sunderland.
    • Deal is expected to support thousands of jobs and delivers on PM’s priority to grow the economy.
    • Comes as PM hosts Global Investment Summit next week which is expected to deliver billions more investment into the UK.

    Nissan is delivering up to £2 billion of new investment to produce two new electric vehicle models in Sunderland – helping to put more zero emission vehicles on UK roads which will make travel more sustainable and affordable in the long term, the Prime Minister has announced today (Friday 24 November).

    Nissan have said their direct investment of up to £1.12 billion to produce the two models will enable wider investment in infrastructure projects and the supply chain, including a new gigafactory, bringing a total new investment today of up to £2 billion.

    This builds on the £1 billion electric vehicle hub announced by Nissan and their battery partner AESC in 2021, and brings total investment since 2021 to £3 billion, safeguarding the future of Britain’s largest car factory as we move away from petrol and diesel cars.

    Today’s announcement doubles down on this with all-electric replacements for the Nissan Juke and Qashqai models in addition to the all-electric Leaf replacement announced in 2021, supporting the future of Nissan’s highly skilled 7,000 strong UK workforce as well as the 30,000 staff employed in the wider supply chain.

    This investment further cements the UK’s position as a global leader in Electric Vehicle manufacturing, delivers on the Prime Minister’s priority of growing the economy and drives forward the UK’s commitment to net zero.

    The Nissan Sunderland plant is a longstanding UK success story, having opened in 1986 and grown into one of Europe’s largest car plants with world leading productivity. Earlier this year, Nissan marked the milestone of building their 11 millionth vehicle at the Sunderland Plant since production started – meaning that, on average, a new car has been produced at the plant every two minutes, every hour of every day, for 37 years.

    Today’s investment takes the total Nissan investment in the UK past £6 billion and follows Nissan’s confirmation that all its new cars in Europe from now will be fully electric, with its passenger cars across Europe expected to be 100% electric by 2030.

    In addition, today we have confirmed £15 million funding has been awarded for a £30m collaborative project led by Nissan. It will strengthen the technical expertise and R&D zero emission vehicle capability of the Nissan Technical Centre (NTCE) in Cranfield, Bedfordshire, increasing opportunities for securing additional UK R&D investment in future vehicle models.

    It comes ahead of the Global Investment Summit next week, where the Prime Minister is expected to host over 200 of the worlds CEOs and financiers – including the CEO of Nissan Makoto Uchida – to showcase the UK as world leading place to invest.

    The summit is expected to raise billions of pounds of high value investment to create thousands of jobs across the UK, with a special focus on high tech sectors such as innovation, research and development.

    Prime Minister Rishi Sunak said:

    Nissan’s investment is a massive vote of confidence in the UK’s automotive industry, which already contributes a massive £71 billion a year to our economy. This venture will no doubt secure Sunderland’s future as the UK’s Silicon Valley for electric vehicle innovation and manufacturing.

    Making the UK the best place to do business is at the heart of our economic plan. We will continue to back businesses like Nissan to expand and grow their roots in the UK every step of the way as we make the right long term decisions for a brighter future.

    Nissan President and CEO Makoto Uchida said:

    Exciting, electric vehicles are at the heart of our plans to achieve carbon neutrality. With electric versions of our core European models on the way, we are accelerating towards a new era for Nissan, for industry and for our customers.

    The EV36Zero project puts our Sunderland plant, Britain’s biggest ever car factory, at the heart of our future vision. It means our UK team will be designing, engineering and manufacturing the vehicles of the future, driving us towards an all-electric future for Nissan in Europe.

    Today’s announcement comes as a new Investment Zone was confirmed for North East England which is expected to create more than 4,000 new jobs over the first five years and leverage significant private investment including the new £2 billion investment announced today by Nissan.

    Focusing on Advanced Manufacturing and Green Industries, the Investment Zone builds on the region’s key growth corridor the Arc of Innovation which runs from Northumberland down to Sunderland and Durham with opportunities along the Tyne Corridor and benefits felt across the wider region.

    Nissan’s announcement today will provide a key anchor investment for the Investment Zone, which will provide £160 million of support including tax incentives, skills, development infrastructure and innovation funding over the next ten years – addressing barriers to growth, strengthening the local area and ensuring that the UK continues to win investment in the face of global competition.

    At the Autumn Statement, the Chancellor announced further measures to back businesses and remove barriers to investment. This includes making the Full Expensing scheme permanent so businesses can invest for less – delivering an effective permanent tax cut of £11 billion a year for businesses who invest in IT equipment, plant and machinery. The move is set to boost business investment by £14 billion and help grow the economy.

    With the tax cut now permanent, the UK will continue to have both the lowest headline corporation tax rate in the G7 and the most generous capital allowances in the OECD group of major advanced economies, such as the United States, Japan, South Korea and Germany.  Since the introduction of the super deduction – the predecessor to full expensing – in 2021, investment in the UK has grown the fastest in the G7.

    Chancellor of the Exchequer Jeremy Hunt said:

    Today’s news is an enormous vote of confidence in the British economy, just days after we confirmed the most generous investment tax reliefs in the Western world.

    Nissan has a proud history in car manufacturing in Sunderland and their continued commitment to the UK shows how our support for business is getting results – helping create thousands of jobs and solidifying Britain’s place as the world’s 8th largest manufacturer.

    Business Secretary Kemi Badenoch said:

    The investment by Nissan in Sunderland shows once again that the Government’s plan for the automotive sector is working.

    The forthcoming Advanced Manufacturing Plan will build on this deal and other recent big investment wins for the UK car industry, helping to support thousands of jobs and drive growth across the UK.

    The automotive industry has a long, proud history in the UK, and a bright future. Supporting over 166,000 jobs and contributing £71 billion to our economy, it is integral to delivering on levelling up, net zero and helping to drive economic growth.

    This announcement also follows other automotive success stories including Tata’s investment of over £4bn in a new 40 GWh gigafactory, BMW’s investment of £600m to build next generation MINI EVs in Oxford, Ford’s investment of £380 million in Halewood to make Electric Drive Units and Stellantis’ £100m investment in Ellesmere Port for EV van production.

    Last week, the Chancellor announced that we’re making available £4.5 billion in strategic manufacturing sectors across the UK to unlock investment, support levelling up and enable the UK to seize growth opportunities through the transition to net zero. This includes making over £2 billion available to the automotive sector from 2025 for five years to support the manufacturing and development of zero emission vehicles, their batteries and supply chain – building on existing support.

    The UK has already overtaken France to become the eighth-biggest manufacturing nation in the world in the most recent data. Taken together, our manufacturing industries now contribute £205 billion to the economy and are boosting employment in every region of the country, including over 300,000 jobs both in the North West and Yorkshire and The Humber.

    The Business and Trade Secretary is also set to announce the publication of the government’s Advanced Manufacturing Plan which will set out our comprehensive offer to the UK’s manufacturing sector to continue to boost long term sustainability and prosperity.

    The Department for Business and Trade will also shortly publish the UK’s first Battery Strategy, outlining the Government’s activity to achieve a globally competitive battery supply chain in the UK by 2030 that supports economic prosperity and the Net Zero transition.

  • PRESS RELEASE : UK government leads the way towards decarbonising air travel as new global agreement takes flight [November 2023]

    PRESS RELEASE : UK government leads the way towards decarbonising air travel as new global agreement takes flight [November 2023]

    The press release issued by the Department for Transport on 24 November 2023.

    Framework agreed by the international aviation sector to reduce aviation fuel emissions by 5% by 2030.

    • the UK government has helped lead the global community to agreement to reduce emissions from aviation fuel by 5% by 2030 to help drive international aviation to a sustainable future
    • the UK continues to be a leader in the transition towards cleaner flying and today’s agreement is a further step towards defining how sustainable aviation fuel helps us achieve net zero by 2050
    • as the world looks to COP28 in Dubai next week, a new framework will enable countries across the world to develop their own SAF industries, turning cleaner flying into a reality worldwide

    The world’s aviation community has come together in Dubai this week and agreed a key next step today (24 November 2023) towards the decarbonisation of our skies.

    The International Civil Aviation Organization (ICAO) reached a compromise agreement, at its Third Conference on Aviation Alternative Fuels (CAAF/3) to a framework to reduce emissions from aviation fuel by 5% by 2030. Contributing to the global aviation sector’s aim to reach net zero emissions by 2050, today’s agreement confirms countries’ commitment to scale up the use of sustainable aviation fuels (SAF).

    Today’s agreement outlines the support available to those countries at the beginning of their SAF journey and enables them to take part in the global aviation energy transition. It’s only through a shared global ambition that we can scale up and build the industry we need for the future.

    The framework includes a new global target to reduce emissions by 5% by 2030 using cleaner fuels. This is underpinned by a comprehensive package of policies and supporting measures to ensure all regions of the world can start producing and using SAF as soon as possible.

    The UK played a leading role in the negotiations and, working with our allies, stressed the importance of achieving our collective global aspirations on decarbonisation.

    The UK remains committed to further action in this area, with our domestic SAF mandate requiring 10% SAF in the UK fuel mix by 2030, delivering a 7% reduction in carbon emissions. Last week, we announced a further £53 million from our Advanced Fuels Fund to scale up the UK SAF industry and help see 5 commercial SAF plants under construction by 2025. We also launched the UK Clearing House, a national hub to support the testing and approval of new advanced fuels for aviation.

    UK Aviation Minister, Anthony Browne, said:

    Sustainable aviation is a promise that the global sector wants to make a reality – that’s why today’s agreement is so important – not only giving a renewed commitment to delivering a net zero future, but outlining the next steps in the industry’s flightpath towards it.

    While the UK sought to secure greater ambition, this is a significant moment in our path to sustainable flying. The UK remains steadfast in its commitment to decarbonise international aviation.

    This deal shows that, when the world comes together and cooperates, we can bring about real change.

    Demonstrating the UK’s climate leadership, Aviation Minister Anthony Browne chaired a meeting of the UK-convened International Aviation Climate Ambition Coalition and addressed the conference on the opening day. The coalition has a diverse membership of 62 governments and organisations committed to leading the way to net zero aviation by 2050.

    The agreement reached provides clear, short-term direction for both investors and operators who are already transitioning and gives confidence to those looking to invest in cleaner aviation fuels. ICAO will reconvene by 2028 to further bolster and build upon the agreements set out today.

    A future of sustainable flying is already becoming a reality as the industry gears up for the first 100% SAF-powered transatlantic flight, with up to £1 million of support from government. The flight, operated by Virgin Atlantic in partnership with technical partners, will fly from London Heathrow to John F. Kennedy International Airport on 28 November 2023.

  • PRESS RELEASE : UK commits further support to get aid into Gaza [November 2023]

    PRESS RELEASE : UK commits further support to get aid into Gaza [November 2023]

    The press release issued by the Foreign Office on 24 November 2023.

    The Foreign Secretary announces further UK funding to tackle the growing humanitarian crisis in Gaza.

    • on day 2 of a visit to Israel and the Occupied Palestinian Territories (OPTs), the Foreign Secretary announces further UK funding to tackle the growing humanitarian crisis in Gaza
    • in meetings in Israel, Foreign Secretary pressed to open up greater access for lifesaving support including medical supplies and fuel
    • as the fourth UK aircraft of humanitarian aid arrives in Egypt, the UK pledges £30 million additional aid funding for Gaza

    Following a series of meetings with senior Israeli politicians on Thursday, the Foreign Secretary’s talks today will focus on how UK efforts can help alleviate the growing humanitarian crisis in Gaza.

    He will also discuss supporting the Palestinian Authority, including through training and capacity building, and look towards a long-term political solution to the crisis.

    The Foreign Secretary will also meet aid agencies delivering UK-funded humanitarian support in Gaza.

    The Foreign Secretary has announced that the UK will provide a further £30 million in humanitarian aid which will support trusted partners, including UN agencies on the ground, to deliver lifesaving aid to people in Gaza. It brings to £60 million the additional aid announced by the UK for Palestinian civilians since the crisis started in October.

    Foreign Secretary David Cameron said:

    We are hopeful that today will see the release of hostages, and I am urging all parties to continue to work towards the release of every hostage. A pause will also allow access for life-saving aid to the people of Gaza.

    I am proud that a fourth UK flight carrying critical supplies landed in Egypt today, and I can announce new £30 million of funding which will be spent on vital aid such as shelter and medical provisions.

    It is vital to protect civilians from harm, and we are urgently looking at all avenues to get aid into Gaza, including land, maritime and air routes.

    Today’s additional funding comes as the fourth UK aircraft carrying humanitarian aid landed in Al Arish, Egypt, for onward transfer to Gaza. The RAF flight carried 23 tonnes of humanitarian aid, including 4,500 blankets and 4,500 sleeping mats for distribution by the United Nations Relief and Works Agency (UNRWA).

    Defence Secretary Grant Shapps said:

    The RAF continues to deliver on the UK’s commitment to helping those in need by operating flights into the region to provide urgent humanitarian support which will save civilian lives.

    The UK is driving international efforts to support the humanitarian response in Gaza, working closely alongside partners and allies to de-escalate the situation.

    During his visit, the Foreign Secretary continued to urge all parties to make progress on the agreement between Israel and Hamas, brokered by Qatar and Egypt, to allow the release of a number of hostages and a pause in the fighting and ensure the agreement is adhered to in full.

  • PRESS RELEASE : Russia blocks discussions at Kimberley Process Plenary [November 2023]

    PRESS RELEASE : Russia blocks discussions at Kimberley Process Plenary [November 2023]

    The press release issued by the Foreign Office on 24 November 2023.

    Russia has blocked discussions on conflict diamonds and Ukraine at the Kimberley Process Plenary in Zimbabwe.

    At the most recent Kimberley Process Plenary meeting, held in Zimbabwe from 6 to 10 November 2023, Russia consistently used the rules around consensus to block attempts from Ukraine, the UK and others to discuss the implications of their full scale invasion of Ukraine on the Kimberley Process and its objective to delink conflict from diamonds.

    Russia exports around 30% of the world’s rough diamonds and accrues a significant amount from the proceeds which are contributing to its illegal war effort in Ukraine.

    Since the full-scale invasion, the UK and other Kimberley Process members have been pressing the Kimberley Process to discuss the issue and to work on expanding the definition of ‘conflict diamonds’.

    In addition to having a substantive discussion on the issue blocked, Russia and other Kimberley Process participants then blocked the inclusion of a factual reference to the attempt to add the discussion to the agenda of the Plenary.  This resulted in the failure to issue a final communique.

    A Foreign, Commonwealth & Development Office spokesperson said:

    Despite many productive conversations at the Plenary, we are disappointed it was not possible to discuss the link between Russia’s proceeds of rough diamonds and the financing of Russia’s illegal, premeditated, and unprovoked war in Ukraine.

    It is also regrettable that a final communique reflecting attempts to discuss this were blocked by Russia and a small number of participants. The Kimberley Process has achieved much since its creation and we remain committed to ensuring it continues to work towards eradicating the link between diamonds and conflict.

    The United Kingdom remains committed to supporting the Kimberley Process in important initiatives such as establishing a Permanent Secretariat in Botswana; the Review and Reform cycle, and broadening the definition of ‘conflict diamonds’.  We will continue to actively contribute to the Kimberley Process while pressing for reform.

  • PRESS RELEASE : Royal Navy Warship HMS Spey makes inaugural visit to India [November 2023]

    PRESS RELEASE : Royal Navy Warship HMS Spey makes inaugural visit to India [November 2023]

    The press release issued by the Foreign Office on 24 November 2023.

    The Royal Navy warship, HMS Spey, has made her inaugural visit to India following in the footsteps of sister vessel HMS Tamar. The Batch 2 Offshore Patrol Vessel arrived in Port Blair, the capital city of the Andaman and Nicobar Islands.

    Berthed alongside Naval Component Command (NAVCC) Head Quarters on the outskirts of Port Blair, Royal Navy officials onboard Spey welcomed their Indian military counterparts for planning discussions.

    Defence Advisor to India, Brigadier Nick Sawyer, hosted a discussion on maritime security challenges and priorities within the Bay of Bengal with Indian Navy Senior Officers, Chief of Staff Andaman and Nicobar Command, Rear Admiral Sandeep Sandhu and Cdre Sugreev.

    Lt Cdr Bridget Macnae RN, HMS Spey’s Executive Officer (temporarily in Command) said:

    “Frequent port visits and multilateral exercises between the Indian Navy and Royal Navy continue to support our ever-expanding relationship and operational interaction and cooperation. The UK and India firmly believe in, and promote the Rules Based International System; we share an interest in upholding international maritime law and supporting a free and open Indo-Pacific.”

    UK’s Defence Advisor to India, Brigadier Nick Sawyer said:

    “We deeply value our relationship with India in a shared endeavour to confront those who challenge the rules-based system and ensure peace and prosperity on and from the sea. The sixth visit of Royal Navy ship to India within a year is the clearest demonstration of that as well as the UK’s Indo-Pacific tilt in action.”

    At sea, HMS Spey hosted a number of Indian Navy service personnel onboard whilst the ship conducted a maritime manoeuvre exercise with an Indian Naval patrol vessel further developing operational interoperability between the two nations.

    HMS Spey’s crew took the opportunity to explore the Islands rich culture and diversity, whilst also discovering incredible flora and fauna in the national park and swimming alongside rich marine life at many of the idyllic beaches and coves.

  • PRESS RELEASE : Nuclear safety, security and safeguards in Ukraine: UK national statement to the IAEA [November 2023]

    PRESS RELEASE : Nuclear safety, security and safeguards in Ukraine: UK national statement to the IAEA [November 2023]

    The press release issued by the Foreign Office on 24 November 2023.

    The UK statement at the International Atomic Energy Agency Board of Governors meeting, under agenda item 6: nuclear safety, security and safeguards in Ukraine.

    Chair, given the late hour I start with an apology for speaking for more than 3 minutes but I must begin by responding to comments from the Russian Federation related to the use of depleted uranium in Ukraine.

    Chair, the United Kingdom has used depleted uranium in its armour-piercing shells for decades. This is a standard component and has nothing to do with nuclear weapons or nuclear capabilities. Russia knows this perfectly well because Russia also uses depleted uranium based ammunition. I hope, Chair, that the Russian Ambassador is not deliberately trying to mislead the Board and I emphasise that the UK is in full compliance with its safeguards obligations in this regard.

    Chair, the United Kingdom thanks the Director General for his comprehensive report on Nuclear Safety, Security and Safeguards in Ukraine and for the regular updates, the most recent of which was released earlier this week. These reports continue to provide the only independent source of information on the state of nuclear safety, security and safeguards at Ukraine’s Zaporizhzhia Nuclear Power Plant, which remains under illegal Russian control.

    Chair, we heard a long intervention from the Russian Ambassador, challenging multiple paragraphs of the DG’s report before the Board today. However, we prefer to rely on the IAEA’s assessment, which in our view, paints a worrying picture of the deterioration of nuclear safety at the ZNPP.

    There is currently no comprehensive, systematic maintenance programme. Overall levels of maintenance are significantly lower than before the conflict. As the report states, “reduced maintenance of safety systems might result in a higher failure rate of other systems and components irrespective of the plant’s shut down state, and might affect the safe operation of the plant.”

    Although the report refers to a small increase in daily staffing levels during the reporting period, the total number of staff has reduced significantly since the start of the conflict and this impacts safety across the site, including in the main control rooms.

    Russia continues to replace experienced Ukrainian staff with new Russian personnel, unfamiliar with the site and its procedures.

    The report states that the staffing situation is “not sustainable and may have implications for nuclear safety and security.”

    The Russian Ambassador disagreed with that assessment – that is his prerogative – but we prefer to believe the independent, expert assessment by the DG and his team.

    Chair, in addition the report tells us that there is still no alternative steam source on site despite the regulatory order issued by the Ukrainian Regulator, SNRIU, on 8 June and repeated urging from the IAEA.

    The IAEA team continues to struggle to secure adequate access, having to make advance requests and being “prevented from accessing critical areas for very long periods of time”.

    This means the IAEA cannot make a clear assessment that the DG’s Five Concrete Principles are being observed at all times. For these reasons – and there are many more examples in the report – the situation at ZNPP should remain the Board’s most serious nuclear safety concern.

    For these reasons, Russia’s seizure and continued control of ZNPP has been the focus of 3 Board of Governors resolutions and, most recently, a General Conference resolution, passed with cross regional support.

    The Russian Ambassador talked about the number of votes in favour so I think it is important to remind colleagues that the resolution was adopted with only 6 votes against – an overwhelming majority in support. That resolution calls for the plant to be returned to the full control of the competent Ukrainian authorities and deals directly with matters of nuclear safety, security and safeguards, which have everything to do with this organisation’s mandate.

    In stark contrast to the situation at the ZNPP, the DG’s report sets out the situation at Ukraine’s other nuclear plants – those that are under Ukrainian control: All nuclear safety and security systems at South Ukraine, Khmelnytskyy and Rivne NPPs continue to operate as designed and to be fully functional. The plants’ operating staff conduct regular operational testing and preventive maintenance of the systems.

    No failures or challenges to their operation were reported. All 3 plants have sufficient qualified operating staff to ensure the safe and secure plant operation.

    All of this has been achieved against a backdrop of frequent air-raid alarms; a powerful explosion close to the Khmelnytskyy NPP, which damaged the windows of several buildings at the site; and, with the onset of winter, the looming threat of renewed Russian attacks on Ukraine’s energy infrastructure, including power lines connected to the plants.

    We recognise the heavy toll this takes on the Ukrainian operating staff and welcome the IAEA’s work, with Ukraine, to support the physical and mental welfare of staff.

    Given the Russian Ambassador’s comments to this Board I will close with a reminder of the UN General Assembly Resolution adopted on 12 October 2022, which declared that, inter alia, the attempted illegal annexation of 4 regions of Ukraine on 4 October has no validity under international law.

    With these remarks, the UK takes note of the report GOV/2023/59 and asks that it be made public.

    Thank you, Chair.

  • PRESS RELEASE : Autumn Statement drives forward mission to level up [November 2023]

    PRESS RELEASE : Autumn Statement drives forward mission to level up [November 2023]

    The press release issued by the Department for Levelling Up, Housing and Communities on 24 November 2023.

    A major £450 million pound levelling up package revealed at this week’s Autumn Statement.

    The Chancellor outlined a major £450 million pound levelling up package at this week’s Autumn Statement which will drive economic growth in all parts of the country. This new funding comes on top of the billions we have already allocated through Levelling Up Partnerships, Investment Zones and additional money for transformative projects across the country.

    The continued backing for our mission to Level Up comes after the third round of allocations from the Government’s flagship Levelling Up Fund which has now awarded £4.8 billion to initiatives that will drive economic growth in communities everywhere.

    Investment Zones and Freeports

    Investment Zones are an opportunity to embed innovation throughout the economy. They support the growth of priority sectors, leveraging existing strengths to drive rapid expansion. This week we announced new Investment Zones, each of which has already received investment from the private sector: focused on advanced manufacturing in Greater Manchester and the West Midlands, on green industries in the East Midlands, on life sciences in West Yorkshire, and, in partnership with the Welsh Government, two Investment Zones for Wales – one in Cardiff and Newport and a second in Wrexham and Flintshire.

    We also increased the duration of Investment Zones and Freeports, which will last to ten years – doubling their value to communities across the United Kingdom. The government is also creating a £150million flexible Investment Opportunity Fund to support Investment Zones and Freeports to secure business investment over the next five years.

    Levelling Up Partnerships

    The UK Government has committed £80 million for the expansion of the Levelling Up Partnerships programme to Scotland, for Na h-Eileanan an Iar, Argyll and Bute, Dundee, and the Scottish Borders. We have worked closely in collaboration with Scottish Government on the methodology to select places and will design a programme that fits within the Scottish policy context.

    We will work with Welsh Government on potential opportunities in Wales and continue to work with local stakeholders on how best to level up communities in Northern Ireland. The programme extends the announcement of 20 initial Levelling Up Partnerships in England at Spring Budget 2023, which built on the success of initial trials of such partnership working in Blackpool, North East Lincolnshire and Northumberland.

    Bespoke Levelling Up Capital Funding

    Following the third round of the £4.8 billion Levelling Up Fund, we have committed a further £37.5 million for five additional capital projects. This will support regeneration, transport and culture, and will fund; the Isles of Scilly Museum and Cultural Centre; Fakenham Leisure and Sports Hub; the Inspiring Eden Enterprise Hub; transport in Chepstow, including through the town’s Transport Hub; and in Warrington, by improving local connections.

    We are also providing £15m to Bolsover to ensure all Priority Places, identified by the Levelling Up Need metrics set out in the Levelling Up White Paper, have received government investment.  There will also be £5 million for Barrow-in-Furness – where significant contributions to national security are being made, but investment is needed to unlock housing growth, regenerate the town centre, and deliver a range of measures across transport, skills and education

    Devolution

    The Autumn Statement also represents another step forward for devolution seeing more power transferred from Westminster to local people who know their communities best.

    We have confirmed four new devolution deals – ‘level 3’ mayoral deals for Greater Lincolnshire, Hull and East Yorkshire; and non-mayoral deals for Cornwall and Lancashire at level 2. We have also confirmed that we are in advanced negotiations with Devon and Torbay about a ‘level 2’ devolution deal for the area.

    As we widen the pool of devolution, we also continue to deepen it: a new ‘level four’ in our devolution framework offers local authorities more devolved spending in the future, greater control of spending from the Affordable Homes Programme, and more local control over adult skills, transport, and achieving net zero. For Greater Manchester and the West Midlands, we have published a new memorandum of understanding that sets out how these areas will exercise control over a single funding settlement.

    Housing

    We can only level up if we build the beautiful homes that communities need. The Autumn Statement backed the Government’s long-term plan for housing which provides the roadmap for how this can be achieved.

    The plan focuses on building the right homes in the right places, including ambitious plans to accelerate developments in Cambridge, Leeds and London.

    Cambridge, Leeds and London

    We will tackle their respective challenges, whether that is by addressing water scarcity near Cambridge or supporting ambitious plans for a new West Yorkshire mass transit system, as part of Network North.

    In Leeds, £2 million will support Leeds City Council to develop integrated plans for three new city quarters that will bring together housing, transport and economic investments to transform the liveability and productivity of the centre of Leeds.

    In London, £23 million for a new bus network will unlock housing as part of Docklands 2.0.

    In Cambridge, we are allocating £9 million – including £5 million of new funding – to improve the barrier of water scarcity and accelerate the new Cambridge Delivery Group.

    Affordable Homes Guarantee Scheme

    Our housing associations and local authorities are critical to boosting overall housing supply, we cannot build the homes we need without them. By extending the Affordable Homes Guarantee Scheme by £3 billion we will help the already successful scheme support the delivery a total of 20,000 new affordable homes, as well as supporting works to improve quality and energy efficiency.

    Home Buying Process

    This Government is committed to removing the barriers that make buying a home unnecessarily difficult. We will exploit the potential of new technology to improve the buying and selling process, including running pilots to develop ‘proptech’ products and digitise council property data. We will continue our reforms to the process of purchasing and selling homes.

    Homelessness prevention

    The Government has allocated £450 million across two years to a third round of the Local Authority Housing Fund, which will help support Afghans on resettlement schemes and others in temporary housing need. This funding allows councils to manage homelessness pressures more effectively and makes it easier for vulnerable people to find settled accommodation.

    The government is providing £120 million for local authorities to invest in homelessness prevention, supporting private renters to remain in their homes and providing temporary accommodation to families and individuals. We will also continue to support our guests from Ukraine, rightly extending the ‘thank you’ payments for sponsors across the UK into a third year.

    The government is increasing the Local Housing Allowance to cover the 30th percentile of local market rents. This will make 1.6 million low-income households better off, with an average gain of £800 in 2024-25. Rates will be raised across Great Britain in April 2024.

    Planning

    We will maintain a focus on the blockers to development, recognising the scale of the challenge. We are injecting up to £17 million in additional funding into the planning system to help local authorities reduce planning application backlogs, making it easier to get new homes approved and built.

    Where there are reasonable proposals to reconfigure homes, we will make this easier, consulting on a new permitted development right to streamline planning decisions for homeowners.

    We are also publishing a new prospectus on infrastructure delivery that sets out how we will go further than our current reforms. Only by building major infrastructure faster and cheaper will we prepare the UK for the challenges of the 2030s and 2040s, lay the foundations for the economy of the future, and make sure that everyone, everywhere, benefits from the opportunities ahead.

    Nutrient Neutrality – Local Nutrient Mitigation Fund

    Unlocking much needed homes held up by defective EU rules remains a priority. The House of Lords voted against Government proposals that would have unlocked over 100,000 homes, whilst protecting and improving the environment. This is despite the reforms having had the strong support of housebuilders and local authorities. The Government is now focusing on making rapid progress in unlocking homes within the existing legal framework, in order to meet our manifesto commitment to build one million homes over this Parliament. That is why we will make £110 million available through the Local Nutrient Mitigation Fund, to help planning authorities in affected areas deliver tens of thousands more homes before the end of the decade.

    In response to the Nutrient Neutrality measures, the following stakeholders said:

    Melanie Leech, Chief Executive of the British Property Federation

    We welcome these measures, which promote growth, through incentivising planning delivery. Long and uncertain time taken in planning can increase risk and project costs considerably. On complex projects, developers are generally willing to invest in planning delivery if it guarantees a good service.  We await the details, but the principle of what the Chancellor is doing is very much supported.

    Local Development Orders (LDOs) are an innovative part of our planning regime, offering locally determined flexibility. We have long been supporters of their greater use, as we believe they can help support the regeneration and repurposing of places like town centres. It is therefore well received that the Government is putting some resource behind some local planning authorities, to allow them to test LDOs.

    Simon Carter, Chief Executive of British Land

    The time it takes to secure planning permission is increasing. We therefore welcome the specific measures announced by the Government today, to speed up planning delivery and provide greater certainty for developers and investors. We are strong advocates for practical, deliverable planning reform, to unlock urban regeneration and drive growth and productivity in towns and cities across the country.

    Mark Allan, Chief Executive of Landsec

    We’ve been campaigning for a focused approach to planning reform to unlock the huge potential of brownfield urban regeneration. The measures announced today, combined with a plan to provide proper resourcing of the planning system, should move us in the right direction to generate more growth, more homes and more jobs around the country.

  • PRESS RELEASE : Report by the Head of OSCE Mission to Moldova – UK response [November 2023]

    PRESS RELEASE : Report by the Head of OSCE Mission to Moldova – UK response [November 2023]

    The press release issued by the Foreign Office on 23 November 2023.

    Ankur Narayan, UK Delegation to the OSCE, reiterates the UK’s unwavering support for the OSCE Mission and for a peaceful, comprehensive and lasting settlement to the Transnistrian conflict.

    Thank you, Chair. Ambassador Keiderling, welcome back to the Council and thank you for your report.

    Let me state at the outset that the United Kingdom’s resolute support for the OSCE Mission remains steadfast. The Mission’s critical efforts to monitor the Security Zone, facilitate ongoing 1+1 meetings and ensure access to justice for victims of human rights abuses are instrumental to securing the foundations of a lasting peace. The importance of freedom of movement of Mission members in order to effectively deliver these crucial functions is therefore paramount and must be safeguarded.

    We agree with your assessment that the importance of ongoing talks between Chisinau and Tiraspol is now greater than ever, and thank the Mission for its facilitation of the 1+1 meetings. The tenth edition of the annual Donors Forum, which brought together civil society representatives from both sides, speaks to the value of direct dialogue in preventing escalation, reversing the deterioration of relations between Tiraspol and Chisinau and laying the groundwork toward a negotiated settlement. We call on both sides to build on this positive momentum and redouble their efforts to find common ground on the many shared issues affecting peoples on both sides of the Nistru.

    The UK’s position is unchanged; we continue to support a peaceful, comprehensive and lasting settlement to the Transnistrian conflict on the basis of the territorial integrity and sovereignty of the Republic of Moldova within its internationally recognised borders, and with a special status for Transnistria. It is to this end that I reiterate our hope to see the Mission return to a 12-month mandate come December. A yearly mandate would grant the Mission the predictability, the certainty, and sustainability it needs to continue its good work and charter a course toward this objective amidst a challenging environment, made worse by Russia’s illegal invasion of Ukraine.

    Ambassador, we are grateful for your unflinching focus on human rights in the region and commend the Mission’s efforts in promoting freedoms of media and expression, combatting human trafficking and addressing the scourge of gender-based violence. There is much still to be done however and we call on all member states to strengthen our commitment to the Mission to support it in fulfilling this crucial role.

    Ambassador, at your last appearance at this Council in April, the UK reiterated our concern at the ongoing presence of Russian Forces on Moldovan sovereign territory, in contravention of international law. I repeat that concern today, noting that no progress has been made towards their immediate withdrawal. This too extends to the presence of hazardous material stored at Cobasna, where a considered and thorough proposal for the removal and demolition of the contents of the ammunition site must now be shared as a matter of urgency.

    In closing, Ambassador, I would like to take the opportunity to thank you and your team for your dedication to support peace and security on both banks of the Nistru. Thank you.