Category: Press Releases

The press release issued by HM Treasury on 20 December 2022.

• The Mortgage Guarantee Scheme will be extended by a year, having already helped over 24,000 households get onto the property ladder
• Launched in April 2021, the scheme supports first-time buyers, who make up 85% of scheme transactions, buy a home with a 5% deposit
• The scheme is just one of the ways the government is helping people with home ownership

Under the scheme the government offers lenders the financial guarantees they need to provide mortgages that cover the other 95%, subject to the usual affordability checks, on a house worth up to £600,000.

Launched in April 2021, the scheme has already helped over 24,000 households. It was originally planned to close at the end of this year but will now be extended until the end of 2023.

Chief Secretary to the Treasury, John Glen MP said:

For hard-working families facing today’s challenging economic conditions, it’s right that we continue to help them secure their first home or move into their dream house.

Extending this scheme means thousands more have the chance to benefit, and supports the market as we navigate through these difficult times.

Since 2010, more than 687,000 households have been helped into home ownership through government schemes. First time buyers often find it hard to save for a large deposit, and the mortgage guarantee has helped over 24,000 households (as of November 2022) overcome this barrier and secure the keys to a new home with a deposit as small as 5%.

As well as first time buyers and current homeowners, the scheme has also helped support the wider housing sector. Lenders reduced the availability of high LTV products during the Covid-19 pandemic, with just eight 95% LTV products available in January 2021. The government’s Mortgage Guarantee Scheme helped restore competition and consumer choice to the market, which has benefited businesses and boosted the market.

To also support people to get onto the property ladder, the government has increased the level where first-time buyers start paying stamp duty from £300,000 to £425,000. Furthermore, first-time buyers can get relief on properties costing up to £625,000, as opposed to £500,000 previously. Both of these measures are time-limited to April 2025.

The government has also continued to provide a range of other options to support home ownership and the wider housing sector. For example, the Help to Buy ISA and Lifetime ISA have collectively facilitated over 618,000 households get on to the property ladder.

The press release issued by HM Treasury on 19 December 2022.

Statement by Ambassador Barbara Woodward at the Security Council Briefing on Iran.

Thank you, President.

I’d like to start by thanking Under-Secretary-General DiCarlo for her briefing, and the UN Secretariat for its important role supporting implementation of resolution 2231.

I’d also like to thank Ambassador Mythen for his briefing and him and his team for their work as Facilitator during the past two years. And finally, His Excellency Mr. Gonzato, for your briefing on behalf of the JCPoA Coordinator.

Colleagues are aware that in April 2021 negotiations began to return Iran to full JCPoA compliance and the US to the deal. As we’ve heard, the JCPoA Coordinator tabled viable deals in March and August this year, which would have achieved this. Iran refused both packages with unacceptable demands beyond the scope of the JCPoA.

Iran’s continued nuclear escalation is a threat to international peace and security. Today, Iran’s total enriched uranium stockpile exceeds JCPoA limits by at least 18 times and it continues to produce High Enriched Uranium, which is unprecedented for a state without a nuclear weapons programme. Its nuclear actions have no credible civilian justification.

Iranian nuclear breakout time has reduced to a matter of weeks and the time required for Iran to produce the fissile material for multiple nuclear weapons is decreasing. Iran is testing technology with direct application to intermediate and intercontinental range ballistic missiles capable of carrying a nuclear payload.

Iran’s behaviour in the region and at home betrays its claims to be a responsible international actor. As the Secretary-General’s report confirms, Iran continues to provide increasingly complex weapons systems to non-state actors, including the Houthis. It is providing support to Russia’s war of aggression against Ukraine, with UAVs with which Russia is targeting civilians and civilian infrastructure as it did once again, today, against Kyiv. And it is responding to domestic protests in the most brutal fashion. This behaviour makes progress on a nuclear deal much more difficult.

President, Iran and Russia would try to have us believe that the concerns I have expressed today are part of a Western campaign to undermine the Iranian government. This is simply false. Iran’s actions should be a matter of profound concern for us all.

In a year that has seen increased nuclear rhetoric, including from a P5 member, the Council’s focus on Iran’s nuclear programme has never been more critical. In the months ahead it is incumbent on us to ensure that Iran is not able to develop a nuclear weapon.

Thank you.

The press release issued by HM Treasury on 27 August 1998.

The Treasury’s Private Finance Taskforce continues to set the pace in reinvigorating the PFI and has today:

• published new best practice guidance for civil servants on how to appoint and manage PFI advisers in the most cost effective manner (Technical Note No 3); and
• given written assurance that funding for PFI contracts by non-Departmental public bodies (NDPBs) will not be cut after signature of value for money contracts (Policy
  Statement No 3).

In addition, a user-friendly  CD-ROM entitled “The Digital Guide to PFI” has been produced,  bringing together over 30 documents comprising all Taskforce-approved PFI case studies, technical notes and policy statements (including the two publications released today) as well as general Treasury Procurement Group guidelines on the PFI process. The CD was produced in partnership with Digital Networks Ltd, the fourth Public Private Partnership that the Taskforce has entered into.

Paymaster General Geoffrey Robinson said:

“With a growing number of PFI projects signed or closeto signature, it is vital that the Treasury Taskforce disseminates best practice as widely as possible. The new advisers guidance, for example, takes into account the lessons of the past and should help the public sector achieve better value for money.  I am  delighted that, in addition to the traditional paper documents already available, our top quality guidance material can now be accessed at the touch of a button.

“It is also terrific to see the Treasury Taskforce once again practising what it preaches. PPP’s are all about negotiating deals that are good for both sides, and the Government is keen to exploit the potential for value for money through the use of a wide spectrum of partnerships that combine public and private sector skills”.

The press release issued by HM Treasury on 13 August 1998.

A new £150 million fund to support innovative projects which provide services to the public in a more efficient and co- ordinated way has been announced today by the Chief Secretary, Stephen Byers.

Funds from the Invest to Save Budget (ISB) will be available to Government Departments to promote joined-up government. Examples of projects which the ISB might support include:

• ‘one stop shops’ enabling the public to deal with more than one agency at a time, such as the Lewisham Council project integrating benefits administered by the Department of Social Security and local authorities;
• joint projects involving an increase in the proportion of business done with the public via electronic means, for example by expanding the services available on the Internet.  The newly self-employed can, by the completion of a single form on the Internet, simultaneously transmit to Inland Revenue, Customs and Excise and the Contributions Agency all relevant starting details;
• the co-location of agencies at local level, for example, to share overhead costs; or
• combining services into packages which make access to Government easier.  Brent Council has streamlined its service delivery by introducing an award winning, single access point (one stop shop) for all enquiries and services.  During 1998, Brent also plans to further develop its current pilot on-line enquiry form available on the Internet and also to extend the operating hours of its innovative telephone call centre thus consolidating its approach to achieving 24 hour, ‘convenient’ access to Council information, advice and services for people who want or need to contact Brent Council

Announcing the ISB, Mr Byers said:

“We intend to provide a better service and save money at the same time.  For too long Government has been remote and detached from individual members of the public.  This has to change.  Our Invest to Save Budget  will be real joined-up government in action providing more efficient and accessible services to the public.

“The aim of the ISB is to ensure public services are delivered in a more coherent way and that different parts of government work closer together.  By breaking down barriers between Government Departments we will be able to provide members of the public with a far better service.  The decisions on the allocation of the fund will be taken jointly by Treasury and Cabinet Office which in itself is an example of joined-up government in action.”

£150 million pounds will be available to promote such projects over the next three years with £20 million available in the first year in 1999-2000.

The Treasury has issued guidance inviting Government Departments to come forward with imaginative proposals for the first £20 million.  In subsequent years the range of those invited to bid will be broadened to include bodies from the wider public sector.

The proposals which are successful in the first bidding round will be announced in Autumn 1998.