Tag: 2022

PRESS RELEASE : Wales Freeport bidding process closes [November 2022]

The press release issued by the Secretary of State for Wales on 25 November 2022.

Applications have closed from bidders interested in setting up a new Freeport in Wales.

Backed by £26 million in UK Government funding, the Freeport Programme in Wales aims to create jobs, boost the local economy and regenerate surrounding areas.

Three bids have been received from ports around the country. They will be jointly assessed by officials from the UK and Welsh governments and it is expected that the successful site will be announced in early 2023 before becoming operational later in the year.

Secretary of State for Wales David TC Davies said:

It is fantastic to take the next step in delivering a Freeport for Wales. It will bring jobs and prosperity to its surrounding region and provide a huge boost to the Welsh economy.

The UK Government has long been committed to bringing a Freeport to Wales and is delivering on that pledge. The Freeports programme is already returning benefits for businesses and communities elsewhere in the UK and I look forward to seeing similar results for Wales.

Wales has already received more than £165m in levelling up funding from UK Government with more to follow in the coming months. This has gone towards projects such as transforming Haverfordwest Castle into an attraction ready for all seasons, a facelift for the Queen’s Ballroom in Tredegar and giving Llandrindod Wells a new lease of life in the form of affordable, energy efficient homes.

Freeports are special areas within the UK’s borders where different economic and customs regulations apply. Freeports are sites centred around one or a combination of air, rail, or seaport, within an encompassing outer boundary.

November 25, 2022
PRESS RELEASE : Kazakhstan 2022 Presidential elections – UK statement to the OSCE [November 2022]

The press release issued by the Foreign Office on 25 November 2022.

Ambassador Bush welcomes Kazakhstan’s engagement with ODIHR, whose report will support reform in Kazakhstan.

The UK has celebrated 30 years of close partnership with Kazakhstan this year. At a time of critical global challenges, we look forward to further building on this partnership, tackling these challenges together, and improving the opportunities of our people.

The UK notes the preliminary findings of ODIHR’s election monitoring mission, and we welcome Kazakhstan’s engagement with the process. We believe that the observations and recommendations from ODIHR’s preliminary and final reports will further support Kazakhstan as its government and people undertake this next important stage of reform, 30 years after achieving sovereignty and independence.

Reforms adopted in the Constitutional Referendum and in other laws this year are designed to promote a new culture of open political discussion and political competition. As OSCE participating states, both the UK and Kazakhstan have signed up to the principle that lasting security cannot be achieved without respect for human rights and democratic institutions.

We look forward to working together with President Tokayev and his government to promote Kazakhstan’s future prosperity, security and democratic path, as he looks to implement the important political and economic reforms he has outlined.

November 25, 2022
Anne-Marie Trevelyan – 2022 Speech to the 12th Conference of the Pacific Community in Vanuatu

The speech made by Anne-Marie Trevelyan, the Minister of State at the Foreign Office, in Vanuatu on 25 November 2022.

Minister for the Indo-Pacific, Anne-Marie Trevelyan, delivered the UK remarks at the 12th Conference of the Pacific Community in Port Vila, Vanuatu.

Chair, Director General, Excellences, Ladies and Gentlemen.

I am delighted to be able to join you a year into the UK’s resumed membership of The Pacific Community.

Three months ago my predecessor formally opened the British High Commission in Port Vila.

It is one of 3 new High Commissions we have opened in Pacific Island countries over the last 3 years.

It is concrete evidence of our commitment to enhancing our engagement with the region, and a demonstration of the importance we attach to the whole of the Indo-Pacific.

Our Foreign Secretary recently used his first major overseas speech to reaffirm our ‘Tilt’ towards the Indo Pacific.

We are expanding our trade and investment relationships, our growing defence partnerships, and our work together to transition to net zero, and continuing our commitment to uphold the international rules-based order.

International solidarity and development are a central pillar of the post-World War II world order.

Which is why the UK supported the WHO COVID-19 Pacific response.

It is why we stand ready to support the Pacific Island Forum’s ‘2050 Strategy for the Blue Pacific Continent’.

And why we are working with you as part of the new ‘Partners in the Blue Pacific’ alliance, to ensure greater coordination behind your priorities.

There is no greater priority for many Pacific Islands than climate change.

You were key allies in delivering the Glasgow Climate Pact at COP26.

And we want to continue working with you to ensure that the world’s big economies deliver on their climate pledges.

The UK is taking a lead with our emission reductions and our International Climate Finance commitment.

We are driving global action to tackle barriers that vulnerable small island developing states face in accessing essential finance. The international community must work better together to support your resilience building. For example, we are launching the new jointly developed Principles for Improved Aid Impact in SIDS next month at the Effective Development Cooperation Summit in Geneva.

It is important that the UK and the Pacific also continue to support shared values of human rights, democracy, rule of law and territorial integrity.

Vladimir Putin’s attack on Ukraine has pushed up energy and food costs around the globe, and is a direct challenge to the international rules based order that protects us all.

We welcome the condemnation of Putin by countries across the Pacific.

It is right that we all do all that we can to stand against Putin’s illegal war and stand with the people of Ukraine.

The Pacific Community does important work for human rights, development, maritime governance, and the environment.

The UK will continue to support that work where we can, and help deliver the Vision for a Blue Pacific Continent.

Together we can help the people and nations of the Pacific respond to the challenges they face.

And secure a resilient, sustainable and prosperous future for all. Thank you.

November 25, 2022
PRESS RELEASE : Statement by Baroness Goldie to the twenty-seventh session of the conference of the States Parties [November 2022]

The press release issued by the Foreign Office on 25 November 2022.

Statement by Baroness Goldie DL, at the twenty-seventh session of the Conference of the States Parties of the OPCW.

Director-General, Mr Chair, Distinguished Delegates,

I would like to thank Director-General Arias and the Technical Secretariat for all their work in preparing for this Conference. Many thanks as well to our Chairperson, Ambassador Madonsela.

I am very sorry not to be with you in person, but I am required to be in London for important business in Parliament.

In April, we marked the 25th anniversary of the Chemical Weapons Convention coming into force. During its first quarter century, the OPCW has made enormous strides in ridding the world of chemical weapons.

There is more to come. The UK is a proud contributor to the new Centre for Chemistry and Technology and we are looking forward to its inauguration next year.

With the completion of destruction of declared stockpiles in sight, next year’s Review Conference is particularly timely. And there is much still to discuss in order to prepare the ground for the Review Conference.

Mr Chair,

The United Kingdom is not complacent about the challenges ahead. This Organisation remains as relevant as ever and there is much still to do.

The OPCW has an important role to play in helping States Parties build capacity to implement the Convention. The UK is proud to provide a further voluntary contribution of seven hundred thousand pounds this year in support of this aim.

And we call on all States Parties to support the proposed modest budget revision. Whilst recognising the global economic headwinds, we encourage all States Parties to pay their assessed contributions on time and in full. Late payments have a direct and material impact on whether the Technical Secretariat can deliver its planned activities.

Mr Chair,

Despite progress on destruction, serious verification challenges remain.

Unfortunately, a small number of States Parties have broken the rules of the Convention in a blatant and outrageous manner.

Russia’s use of Novichok in the United Kingdom in 2018 was horrific. A public inquiry is on-going into the circumstances of Dawn Sturgess’ tragic death. Three Russian nationals have been charged with chemical weapons offences.

The Russian state has also used chemical weapons within their own borders. Alexey Navalny’s poisoning with a nerve agent in 2020 was appalling, as was Russia’s subsequent attempted cover-up. I call on Russia to provide substantive answers to the questions posed by 45 States Parties under Article IX of the Convention. Russia must account for and give up its chemical weapons programme.

Mr Chair,

The United Kingdom condemns Russia’s unjustifiable and illegal invasion of Ukraine.

We have all heard Russian-linked separatist figures making disturbing remarks in Ukraine about supporting chemical weapons use to support war aims. We have all seen Russia’s irresponsible attacks near Ukraine’s civil chemical facilities. And we have all experienced Russia’s malicious disinformation campaigns about chemical weapons. We have seen this pattern of deceitful behaviour in Syria and now we are seeing it in Ukraine. In this context, Russia’s war is not something we can ignore here in the OPCW.

Mr Chair,

Syria is another State Party showing disregard for the rules.

The Syrian authorities have undeniably used chemical weapons against their own people on multiple occasions.

The Syrian authorities have not resolved all the glaring omissions in its initial declaration. Thousands of munitions are missing. Hundreds of tonnes of agent are missing.

In 2021, OPCW States signalled their concern and the Syrian regime’s response was to limit its cooperation with the OPCW even further. It is a lamentable situation.

Syria must comply with UN Security Council Resolution 2118. Syria must live up to its obligations. Syria must immediately give up its chemical weapons programme in full.

Mr Chair,

In 1997 the convention came into force with the vow to eliminate an entire category of weapons of mass destruction.

25 years on and much has been achieved.

But we know we still have a long way to go.

And that is why we must continue to offer the OPCW our full support and make sure it has the resources it needs to deliver on the goal of a world free of chemical weapons.

Thank you Mr Chair.

November 25, 2022
PRESS RELEASE : Government sets out plan to reduce water pollution [November 2022]
The press release issued by the Department for Environment, Food and Rural Affairs on 25 November 2022.

Plans will benefit protected wildlife sites and create new habitats for nature.

New plans to help safeguard England’s precious protected sites by driving down nutrient pollution and allowing for the construction of sustainable new homes for families across the country were announced by the Government today.

Nutrient pollution is an urgent problem for freshwater habitats and estuaries which provide a home to wetland birds, fish and insects. Increased levels of nutrients like nitrogen and phosphorus can speed up the growth of certain plants, disrupting natural processes and devastating wildlife. While the government has taken substantial steps to tackle the issue, today’s measure will fast track progress in hotspot areas while unlocking homebuilding across the country.

Due to excess levels of nutrients in certain English water catchments and as result of complex and bureaucratic EU-derived domestic legislation and case law, Local Planning Authorities can only approve a plan or a project if they are certain it will have no negative effect on legally protected sites for nature.

Natural England, in its statutory role as an adviser on the natural environment, has advised a total of 74 Local Planning Authorities on the nutrient impacts of new plans and projects on protected sites where those protected sites are in unfavourable condition due to excess nutrients.

Government plans announced today will see:
- A new legal duty on water companies in England to upgrade wastewater treatment works by 2030 in ‘nutrient neutrality’ areas to the highest achievable technological levels.
- A new Nutrient Mitigation Scheme established by Natural England, helping wildlife and boosting access to nature by investing in projects like new and expanded wetlands and woodlands. This will allow local planning authorities to grant planning permission for new developments in areas with nutrient pollution issues, providing for the development of sustainable new homes and ensuring building can go ahead. Defra and DLUHC will provide funding to pump prime the scheme.
Today’s measures will not only tackle the long-term issue of nutrient pollution by significantly reducing pollution from existing homes in sensitive areas. Developers will be able to purchase ‘nutrient credits’ which will discharge the requirements to provide mitigation.

Natural England will accredit mitigation delivered through the Nutrient Mitigation Scheme, enabling Local Planning Authorities to grant planning permission for developments which have secured the necessary nutrient credits. This will ensure developers have a streamlined way to mitigate nutrient pollution, allowing planned building to continue and creating new habitats across the country.

These plans build on our comprehensive plan to significantly reduce water pollution, including proposed targets under the Environment Act to reduce the key sources of river pollution; a plan for the largest water company infrastructure project ever to reduce discharges from storm overflows; new funding to the Environment Agency to increase farm inspections to at least 4,000 inspections a year by 2023 and new farming schemes that will reward farmers and land managers for environmental actions, such as introducing cover crops and buffering rivers, to reduce run-off.

Environment Secretary George Eustice said:

The plans we have announced today will protect England’s wildlife and precious habitats from the impacts of nutrient pollution, whilst ensuring communities receive the new homes they need.

This is just one part of ongoing Government action to improve water quality across the country, from targets in our world-leading Environment Act to action on storm overflows.

Levelling Up Secretary Greg Clark said:

It is essential that new homes do not impair the quality of our rivers, streams and wetlands. These measures will ensure the development can take place, but only where there is practical action taken to protect our precious aquatic habitats.

Natural England chair Tony Juniper said:

Wetlands and estuaries are home to a wide variety of internationally-important wildlife species, from wading birds to insects and from fish to special plants. Pollution from excess nutrients is causing serious damage to many of these fragile places and if we are to meet our national targets for Nature recovery it is vital that we take concerted, coordinated action to protect them.

The duty on water companies and the Nutrient Mitigation Scheme mark significant steps forward, and will help join up the various approaches to improving water quality and bring about multiple other benefits. They will provide the tools needed to help planning authorities, developers and water and land managers to both build new homes and support the healthy rivers and lakes that are vital for restoring Nature and creating beautiful places for everyone to enjoy.

The new legal duty on water and sewerage companies in England to upgrade certain wastewater plants will be introduced via a Government amendment to the Levelling Up and Regeneration Bill. We want these improvements to be factored in for the purposes of a Habitats Regulation Assessment.

These upgrades will need to be made in a way that tackles the main nutrient(s) causing pollution at protected wildlife sites, for example the addition of metal salts to wastewater, which can be used in combination with wetlands and reedbeds to improve the performance of treatment works.

Where possible, the Government will work with water companies to identify where these upgrades could be accelerated and delivered sooner. Our proposed Environment Act target to tackle wastewater pollution across the country will see upgrades brought in elsewhere in addition to those required by the new duty on companies, on a slightly longer timeframe.

The Nutrient Mitigation Scheme will create new wetlands and woodlands in partnership with green groups and other privately led nutrient mitigation schemes. It follows DLUHC’s initial £100,000 (per catchment) package of support for planning authorities.

This national scheme will support investment in new habitats which will ‘soak up’ or mitigate the impacts of unavoidable nutrient pollution. These new or expanded wildlife habitats will also increase people’s access to nature.

The scheme will be open to all developers, with priority given to smaller builders who are most affected. Developers can also continue to put their own mitigation schemes in place should they choose. Natural England will work with, not crowd out, new and existing private providers and markets for nutrient offsets wherever they exist.

The scheme is due to open in the Autumn. All affected areas can continue to access practical support from the government and Natural England in meeting nutrient neutrality requirements. Natural England will deliver the scheme by establishing an ‘Accelerator Unit’, with the support of Defra, DLUHC, the Environment Agency and Homes England.

This announcement will support the delivery of the tens of thousands of homes currently in the planning system, by significantly reducing the cost of mitigation requirements. The mitigation scheme will make delivering those requirements much easier for developers.

Update on the Nutrient Mitigation Scheme – November 2022

Natural England has been working closely with Defra and DLUHC, alongside the Environment Agency, Forestry Commission, Homes England, the Planning Advisory Service and Local Planning Authorities (LPAs) to develop the scheme across affected catchments in England. The first mitigation projects are currently being negotiated with two partners in the Tees catchment. Investment in feasibility studies in five further catchments is underway to determine the schemes next mitigation sites. Natural England will invite applications from developers for mitigation credits in the Tees before the end of March 2023.

From December 2022, Natural England will approach landowners in a targeted way to invite them to offer their land as potential sites for nutrient mitigation. These sites will start to provide the mitigation needed by LPAs and developers, and we will expand across the country to facilitate building thousands of new homes as well as making a major contribution to nature recovery through the creation of new wetlands.

Credits from the government backed scheme will be offered in batches which any developers requiring credits can apply for. Where demand for credits exceeds supply, applications will be prioritised to minimise nutrient neutrality related delays to development, to enable development of the most homes most quickly, to facilitate small and medium enterprises, and to support the delivery of affordable and social housing. Information for developers on credit availability and price will be released ahead of the first credit sales.
November 25, 2022
PRESS RELEASE : £15 million funding boost for women who are victims of violence [November 2022]
The press release issued by the Home Office on 25 November 2022.

Millions of pounds are being allocated to tackle violence against women and girls (VAWG), the Home Secretary has announced today (25 November).
Measures announced include:

£8.4 million to support victims of violence against women and girls

targeted funding for the most vulnerable communities

up to £7.5 million for domestic abuse interventions in healthcare settings

funding for rapid spiking tests to build police intelligence

£8.4 million is being awarded to funding specialist support services for the most vulnerable. The majority of the money will go to services which are led, designed and delivered by the users and communities they serve, such as services for victims and survivors from ethnic minority backgrounds, deaf and disabled victims and survivors, and LGBT victims and survivors. Victims will benefit from trauma-informed support which could range from counselling to refuge accommodation.

In addition, in recognition of the important role healthcare workers play in identifying domestic abuse and signposting victims to support, the government is also investing up to £7.5 million of funding for domestic abuse interventions in healthcare settings. This funding will aim to equip more healthcare professionals with the right tools to be able to better identify and respond to domestic abuse, and improve referral pathways for victims to access support services.

The announcement comes on the International Day for Elimination of Violence Against Women and Girls, which the Home Secretary marked yesterday (24 November) with a visit to Refuge, to see first-hand the support needed for domestic abuse and sexual assault victims to rebuild their lives.

Home Secretary Suella Braverman said:

It is paramount that victims of insidious crimes like domestic abuse and sexual assault receive the support they need to rebuild their lives, and we know that those with other vulnerabilities need dedicated support.

This funding comes in addition to an incredibly wide range of work across the board to ensure victims are supported and criminals are brought to justice.

After consulting the public in 2020 through the Government Call for Evidence on Violence Against Women and Girls, the government committed through the Tackling VAWG Strategy and Tackling Domestic Abuse Plan to ensure the provision of tailored victim support. This highlighted the importance of ‘by-and-for’ services, as well as trauma-informed provision and other victim support which is tailored to specific forms of VAWG.

The Domestic Abuse Commissioner, Nicole Jacobs said:

We know these services have been woefully underfunded, so I am delighted to see this additional money being made available for ‘by-and-for’ organisations. Domestic abuse survivors tell us that getting support from their own community is the most effective way to help them recover and rebuild their lives.

As part of its commitment to tackling all forms of violence against women and girls, the Home Office is also granting an additional £70,000 of funding for rapid forensic testing of samples from reported incidents of drink and needle spiking.

This is part of our support for the National Police Chiefs’ Council’s work to determine the nature and scale of spiking. The funding will cover testing of additional urine samples taken by the police, to allow us to build on our understanding of spiking, including improving geographical data on what substances are used and where.

These are some of the many measures the government has taken to support victims, bring perpetrators to justice and protect women and girls across the country. Last month the ‘Enough’ campaign to tackle violence against women and girls, was launched. This gives bystanders safe ways to intervene if they witness an incident of violence against women and girls, ranging from sexual harassment on the street, public transport or at work, to unwanted touching, sharing intimate images of someone without their consent and coercive control in a relationship.
November 25, 2022
PRESS RELEASE : Changes to key stage 2 assessment dates in 2023 [November 2022]
The press release issued by the Department for Education on 25 November 2022.

A change to the KS2 test schedule next year will be necessary due to the additional bank holiday in honour of the Coronation of His Majesty King Charles III taking place on Monday 8 May 2023.
An additional bank holiday in honour of the Coronation of His Majesty King Charles III will take place on Monday 8 May 2023. As this date had previously been announced as the first day of the 2023 key stage 2 (KS2) test week in England, a change to the KS2 test schedule next year will be necessary.

Ministers have considered the situation carefully and have decided that KS2 tests will take place in the same week with tests following the usual order but each taking place one day later than originally planned. As such, the new schedule will be:

Tuesday 9 May: English grammar, punctuation and spelling (GPS) papers 1 (questions) and 2 (spelling)

Wednesday 10 May: English reading paper

Thursday 11 May: mathematics papers 1 (arithmetic) and 2 (reasoning)

Friday 12 May: mathematics paper 3 (reasoning)

The KS2 timetable variation (TTV) window for each assessment will also move back one day, in accordance with this change.

There will be no changes to arrangements for our other assessments, including KS2 teacher assessments, key stage 1 tests and teacher assessments, the phonics screening check and the multiplication tables check. Dates and deadlines for these assessments remain as previously announced.

In making their decision, ministers have considered the views of schools and stakeholders including trade unions and have sought to minimise disruption to schools arising from the change in plans.

We are aware that schools may have booked events or activities for their year 6 pupils on Friday 12 May. Where possible, schools should look to rearrange or delay the start of any such events or activities to accommodate mathematics paper 3.

Where it is not possible to change plans in this way then, exceptionally for 2023, we will approve applications for TTVs arising from booked residentials, trips or similar events scheduled for Friday 12 May only. Schools will need to reschedule the date of the test (mathematics paper 3) for the affected pupils to one of the following five school days.

Note that we will not approve TTVs for any such events that are scheduled on other test days, in line with existing rules. Other TTV rules will continue to apply as normal for Friday 12 May, including in relation to pupil absence or attendance at alternative provision.

Our guidance, including the KS2 Assessment and Reporting Arrangements, will be updated to reflect these decisions, including any changes to other aspects of test administration such as arrangements for the collection of test papers. We are aiming to keep changes as minimal as possible. We will inform schools via the Assessment Updates when the revised documentation is available.

Schools with urgent queries can contact the national curriculum assessments helpline on 0300 303 3013 or by email at assessments@education.gov.uk
November 25, 2022
PRESS RELEASE : Agreement with Singapore opens new fintech market for UK businesses [November 2022]
The press release issued by HM Treasury on 25 November 2022.
- The UK and Singapore agree a Memorandum of Understanding (MoU) on the UK-Singapore FinTech Bridge to remove barriers to fintech trade and boost cooperation
- This will deepen engagement between businesses, and regulators, adding to previous co-operation
- Policy makers from both the UK and Singapore will meet regularly with the fintech sector to work to remove regulatory barriers to trade
The Fintech Bridge builds on an agreement signed in 2016 – which will remove barriers to fintech trade by opening new regular talks between regulators and businesses, in addition to previous areas of cooperation

This will increase the cooperation and sharing of information on emerging trends in the fintech sector. It will also break down barriers to trade for UK and Singaporean fintechs, boosting growth and investment opportunities.

Andrew Griffith MP, Economic Secretary to the Treasury said: said:

The UK and Singapore are among the world’s leading jurisdictions for fintech investment – and today’s announcement will only accelerate growth and innovation in our respective sectors.

The MoU we’ve announced today is crucial – and I would like to thank the Monetary Authority of Singapore for their constructive engagement throughout discussions.

CEO of Innovate Finance, Janine Hirt said:

Innovate Finance welcomes this announcement. A MoU between UK and Singapore will deliver a strengthened framework for vital regulatory and policy discussions between the two countries, enable innovation across financial services, and ensure businesses based in both the UK and Singapore have the ongoing support for their ambitions for growth to be realised.

We look forward to supporting future financial dialogues and business to business activity between these markets. We are also delighted to be working with the key organisations engaged to promote the opportunities this FinTech bridge has to offer, and to welcoming FinTech businesses to IFGS and UK FinTech Week next year.

Miles Celic, Chief Executive Officer, TheCityUK, said:

The UK and Singapore are two of the world’s most dynamic and innovative FinTech markets. The FinTech Bridge will drive exciting new opportunities and greater alignment of regulatory approaches will help with the expansion of FinTechs from the UK and Singapore into each other’s markets. Greater cooperation between government, regulators and industry will boost innovation and drive better outcomes for customers.

This MoU will also further deepen the engagement and opportunities between two of the premier international financial and related professional services centres.

The existing Regulatory Cooperation Agreement signed in 2016 has enabled the UK and Singaporean fintech sectors to closely align at a regulatory level. Today’s commitment goes further in a number of areas, making clear the business support available to firms, highlight opportunities in each other’s markets and creating a clear link between challenges firms face and policy discussions.

The MoU will come into effect next week once formalities have been completed on both sides.
November 25, 2022
PRESS RELEASE : UK reaches deal with Norway to secure opportunities for UK fishing industry [November 2022]
The press release issued by the Department for Environment, Food and Rural Affairs on 25 November 2022.

The UK has reached an agreement with Norway to secure increased opportunities for the UK fishing industry in 2023.

The UK fishing industry will benefit from increased fishing opportunities worth nearly £5 million in 2023 after reaching an agreement with Norway to secure access to key fishing stocks for UK vessels, Defra has announced today.

The deal secures quota of valuable North Sea whitefish stocks worth nearly £3 million and in arctic stocks worth nearly £2 million for 2023, and also ensures UK vessels have access to Norwegian waters to fish their own demersal and pelagic quota.

The UK and Norway negotiate annually on access to each other’s waters, quota exchanges and control and enforcement measures.

This deal builds on the close relationship and cooperation between the UK and Norway and will continue to support a sustainable and economically viable fishing industry by:
- extending arrangements agreed last year on mutual access, with the UK fishing industry having access to 30,000 tonnes of whitefish stocks such as cod, haddock and hake in the North Sea.
- granting access to fish up to 20,000 tonnes each of herring in our respective waters.
- securing over 1,100 tonnes of quota transfers from Norway of key UK stocks.
- providing 750 tonnes of cod quota for the UK to fish in Norway’s arctic waters.
Fisheries Minister Mark Spencer said:

Under the Fisheries Act 2020, the UK is able to negotiate deals that support a profitable and sustainable UK fishing industry, while safeguarding our marine environment for future generations.

I’m delighted to reach a deal with Norway for 2023 which gives UK fishing vessels access to key fish stocks and quota in the North Sea and Arctic, and look forward to continuing to work collaboratively with Norway and other coastal States to manage fishing sustainably.

The agreement highlights both parties’ continued commitment to manage fisheries sustainably and support the long-term viability of stocks in the North Sea. It sits alongside a separate arrangement the UK has with Norway under which we expect over 5,200 tonnes of additional arctic opportunities to be transferred to the UK in 2023. In total, this should provide the UK fleet with over 6000 tonnes of fishing opportunities in arctic waters.

Throughout the negotiations, the UK Government worked closely with the devolved administrations to ensure that all fishing communities across the UK will benefit from the agreement.
November 25, 2022
PRESS RELEASE : UK and Singapore deepen collaboration in FinTech and strengthen financial cooperation [November 2022]
The press release issued by HM Treasury on 25 November 2022.

HM Treasury and Monetary Authority of Singapore joint statement on the seventh meeting of the UK-Singapore Financial Dialogue.

Singapore, 25 November 2022… The United Kingdom (UK) and Singapore held the 7th UK-Singapore Financial Dialogue in Singapore today. Both countries renewed their commitment to deepening the UK-Singapore Financial Partnership that was agreed in 2021, discussed mutual priorities such as sustainable finance, FinTech and innovation, and agreed on further cooperation in these areas.

At the Financial Dialogue, the UK and Singapore agreed on a Memorandum of Understanding on the UK-Singapore FinTech Bridge[1]. The FinTech Bridge seeks to support continued growth, investment, and technological innovation in this sector, building on active interest of FinTech players in the areas of payments, RegTech and wealth management. Both countries strongly welcomed this deepened co-operation on FinTech and the opportunities the industry can deliver in relation to financial inclusion, enhanced innovation, and improved outcomes for consumers.

Both countries recognised the importance of the UK-Singapore Digital Economy Agreement (DEA) signed earlier this year, and the principle of the free flow of data which is enshrined in it. They noted the significance of this agreement in underpinning the development of respective FinTech sectors and supporting future digital and innovation partnerships.

The UK and Singapore discussed their joint interests in sustainable finance as well as FinTech and innovation.
- Sustainable Finance: Both countries noted continued momentum at COP27 to focus on implementation, including the need to mobilise capital to developing economies to finance the transition to net zero, using innovative approaches such as blended finance and carbon markets.
Transition finance –

The UK and Singapore recognised the importance of transition plans and pathways to achieve the Paris Agreement’s goal of limiting global temperature increase to 1.5°C from pre-industrial levels. Both agreed to work together on transition finance. As a first step, the two countries agreed to explore collaboration opportunities, working with partners such as the UK Transition Plan Taskforce and the Glasgow Financial Alliance for Net Zero’s (GFANZ) Asia Pacific office, which is based in Singapore, to drive international consistency in design and disclosure of transition plans.

Disclosure standards –

The UK and Singapore affirmed their strong commitment to the implementation of International Sustainability Standards Board (ISSB) disclosure standards. Both countries will continue to work with the International Organization of Securities Commissions (IOSCO), the ISSB and other international organisations to implement a comprehensive global baseline of sustainability-related disclosure standards that is interoperable with jurisdiction-specific requirements. Both countries also commit to phase in mandatory climate-related financial disclosures that provide consistent, comparable and decision-useful information for market participants and financial authorities.

Greenwashing –

The UK and Singapore discussed efforts to combat greenwashing, including in relation to sustainability disclosures and sustainable investment product labels. It was agreed that regulators should continue discussing how to adopt a global, coherent, and co-ordinated approach on regulatory oversight of ESG ratings and data products providers, grounded in IOSCO’s recommendations. Both countries recognised the importance of comparable and reliable data to underpin the net zero transition, enabled by technology solutions such as Project Greenprint, and agreed to explore further collaboration opportunities in this area.

Natural capital and biodiversity –

Both countries agreed on the importance of a globally consistent framework for nature-based disclosures and exchanged views on how the efforts of the Taskforce on Nature-Related Financial Disclosures (TNFD) can contribute to the ISSB’s global baseline. Both countries agreed to collaborate to build capacity and understanding of the potential for nature loss and degradation to generate financial risks and cause adverse impacts to business and society, including through engaging with academia such as the University of Cambridge Institute for Sustainability Leadership (CISL) and the Singapore Green Finance Centre, co-managed by Imperial College Business School and Singapore Management University (SMU).
- FinTech and Innovation: The UK and Singapore exchanged views on recent developments in the FinTech sector, including in relation to crypto-assets, and agreed on a number of priority areas for further co-operation.
Crypto-assets sector –

Both countries shared their latest assessments of market developments, opportunities, trends, and longer-term expectations for the crypto-assets sector. They also discussed risks and challenges relating to financial stability, regulatory arbitrage, and shared their progress in strengthening rules on consumer protection and developing the regulation of stablecoins. There was strong agreement on the need to support the safe development of a digital assets ecosystem while ensuring that risks posed by digital assets are consistently managed. Both countries will continue to actively participate in the shaping of robust global regulatory practices through engagement within international multilateral fora such as the Financial Stability Board (FSB), the Committee on Payments and Market Infrastructures (CPMI) and IOSCO.

E-wallets and digital banking –

Singapore provided updates on the progress of its review of e-wallet caps and expected next steps. Both countries discussed the recently released consultation, with the UK providing views on the key proposals. Singapore also updated on the new digital banks that recently launched their operations in Singapore.

The two countries agreed to a roadmap for engagements in sustainable finance, FinTech and innovation, and other areas of mutual interest, leading up to the next Dialogue scheduled to take place in London in 2023.

The UK and Singapore discussed their latest analysis of financial market developments and economic outlook, including how Russia’s invasion of Ukraine has impacted the global economy. Both countries agreed on the usefulness of ongoing exchange of information on this topic, including on financial sanctions.

The Financial Dialogue was co-chaired by Deputy Managing Director (Markets and Development) of the Monetary Authority of Singapore (MAS), Mr Leong Sing Chiong, and Director General (Financial Services) of HM Treasury (HMT), Ms Gwyneth Nurse. Senior officials from MAS, HMT, the Department for International Trade, Bank of England (BoE), Financial Conduct Authority (FCA), and the British High Commission in Singapore attended the Dialogue.

Two industry-led UK-Singapore business roundtables on sustainable finance and FinTech took place on 24 November 2022. Industry participants from both countries participated in this discussion.

a. The sustainable finance Roundtable examined the implementation challenges faced by corporates in meeting their net zero targets, and how the financial industry could help to address these challenges.

b. The FinTech Roundtable discussed the opportunities and challenges faced by FinTech firms, and how these firms could better access overseas markets, including by partnering with financial institutions.

About the Monetary Authority of Singapore

The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator. As a central bank, MAS promotes sustained, non-inflationary economic growth through the conduct of monetary policy and close macroeconomic surveillance and analysis. It manages Singapore’s exchange rate, official foreign reserves, and liquidity in the banking sector. As an integrated financial supervisor, MAS fosters a sound financial services sector through its prudential oversight of all financial institutions in Singapore – banks, insurers, capital market intermediaries, financial advisors and financial market infrastructures. It is also responsible for well-functioning financial markets, sound conduct, and investor education. MAS also works with the financial industry to promote Singapore as a dynamic international financial centre. It facilitates the development of infrastructure, adoption of technology, and upgrading of skills in the financial industry.

About HM Treasury

HM Treasury is the UK government’s economic and finance ministry, maintaining control over public spending, setting the direction of the UK’s economic policy and working to achieve strong and sustainable economic growth.

The department is responsible for:
- public spending: including departmental spending, public sector pay and pension, annually managed expenditure (AME) and welfare policy, and capital investment
- financial services policy: including banking and financial services regulation, financial stability, and ensuring competitiveness in the City
- strategic oversight of the UK tax system: including direct, indirect, business, property, personal tax, and corporation tax
- the delivery of infrastructure projects across the public sector and facilitating private sector investment into UK infrastructure
- ensuring the economy is growing sustainably
[1] The FinTech Bridge provides a structured engagement that will aid the development of policy actions, enhance assessments of emerging issues, such as the development of distributed ledger technologies and data sharing, and support trade and investment flows between our respective markets.
November 25, 2022