Tag: 2023

PRESS RELEASE : £43 million for A38 to tackle congestion and create jobs in Worcestershire [August 2023]
The press release issued by the Department for Transport on 3 August 2023.

Improvements to A38 Bromsgrove will reduce journey times and boost connectivity for residents in the West Midlands.
- spades in the ground within weeks as vital works to the A38 will boost local connectivity and make it easier for Worcestershire residents to get to Birmingham, Bristol and Gloucester
- improvements will generate more than £93 million in economic benefits for the West Midlands, supporting 5,500 new homes and 1,100 new jobs in the region
- part of government plans to create jobs, improve transport connections and grow the economy
Residents in the West Midlands will benefit from reduced road congestion and a boost to the local economy and jobs, with work soon starting on crucial upgrades to the A38 Bromsgrove corridor.

Today (3 August 2023), the Department of Transport (DfT) has confirmed that construction on the upgrades will start in the coming weeks to radically improve the A38 Bromsgrove, reducing journey times, creating new opportunities for cycling and walking and boosting connections to Birmingham, Bristol and Gloucester.

The scheme – backed by £43 million in government funding – will deliver major upgrades on a 4 mile stretch of the A38 between M42 Junction 1 to the north and the junction of A38 with B4094 Worcester Road in the south. These upgrades will focus on improvements at key junctions to prevent bottleneck and improve traffic flow to reduce journey times.

The upgrades are expected to support over 1,100 new local jobs and 5,500 new homes, generating over £93 million in economic benefits for Worcestershire and the West Midlands.

Roads Minister Richard Holden said:

Thanks to our £43 million investment, these crucial upgrades will help reduce severe traffic congestion and poor connectivity for residents in Bromsgrove and Worcestershire, while making it easier to cycle and walk in Worcestershire.

With work set to begin in the coming weeks, these improvements will bolster the local economy through new jobs and homes, while making journeys quicker and smoother for people to get around the area.

The junction improvements will reduce journey times for local buses, making bus services more reliable and punctual. Real-time passenger information will be installed at bus stops along the route to provide passengers with live updates and help them plan their journey, as the government continues to encourage bus use with over £3.5 billion invested since 2020 to protect routes, improve services and reduce the price of bus tickets.

Local residents will also benefit from improved walking and cycling facilities thanks to a new cycle and pedestrian corridor running parallel to the A38. New crossings will make it easier to access the wider local cycle network, improve safety for cyclists and pedestrians, provide more options for active travel and support the drive to net zero.

The total cost of the scheme is £49.8 million, with DfT committing to provide just over £43 million and Worcestershire County Council providing the rest of the funding.

The upgrades are vital to tackle congestion across the A38 and grow the economy in the region by boosting local connectivity. The A38 has been affected by slow traffic flow at key junctions and severe congestion during the weekday rush hour, affecting local residents’ ability to get around.

Councillor Marc Bayliss, Cabinet Member with Responsibility for Economy, Infrastructure and Skills at the County Council, said:

I am delighted that our A38 project has received the funding boost from government that it hugely deserves.

With over £43 million awarded by DfT, we’ll be able to help improve everyday journeys around Bromsgrove and ease traffic for people, as well as boosting the local economy.

Following this announcement, I am pleased to say that contactors will be appointed shortly and work will begin on the improvements later this year.

The project is the latest in a series of government investments to boost local transport infrastructure, including £5.7 billion for future local transport projects across England, as part of the Prime Minister’s plan to grow the economy.
August 5, 2023
PRESS RELEASE : Industry and government agree to seize the “immense opportunities ahead” as Britain builds a world-leading energy sector [August 2023]
The press release issued by the Department for Energy Security and Net Zero on 2 August 2023.

Energy firms met today with Secretary of State Grant Shapps during Energy Week to strengthen the UK’s plans for energy security and economic growth.
Energy Security Secretary Grant Shapps today hailed the “immense opportunities” available for companies and communities as the UK continues to invest in renewable and other clean technologies and strengthen national energy security.

At an industry roundtable in Downing Street today (Wednesday 2 August) energy firms across renewables, oil and gas and nuclear all outlined projects worth as much as up to £100 billion, to be built across the UK over the next decade.

Government and industry also agreed on the importance of working together across the entire energy sector to:

boost the UK’s competitiveness and investment into home-grown clean energy

create and safeguard jobs across the country

reduce energy bills for consumers and households

make progress towards net zero

The Secretary of State also outlined the government’s new powers to protect UK energy supplies.

Speaking after the event Energy Security Secretary Grant Shapps said:

We stand at a crucial point in the UK’s energy history: achieving our goals depends on continued close collaboration with the leaders in the industry.

This was the shared consensus at today’s industry roundtable, which I had the privilege of convening, where we discussed the path to strengthen the UK’s energy security and boost economic growth.

The consensus among energy firms was clear – there are immense opportunities ahead and these can only be seized if the UK government, industry and regulators work together across the sector to accelerate investment into renewables, bring down bills and deliver on net zero.

The investment projects discussed today will not only of safeguard hundreds of thousands of skilled jobs across the country but ensure a resilient and sustainable energy future for the Britain.

Attendee comments

Keith Anderson, CEO, ScottishPower said:

We welcomed the opportunity to hear the Secretary of State’s continued commitment to the UK’s world leading position on tackling climate change and delivering net zero, while growing the economy. As one of the biggest renewables and electricity network investors, ScottishPower is helping drive that growth, creating over 1,000 job in 12 months alone and we look forward to continuing that for decades to come.

Tom Glover, RWE’s UK Country Chair said of today’s meeting:

With an ambition to invest up to £15 billion in the UK electricity market by 2030, it was good to discuss the issues facing the industry at the roundtable today with Grant Shapps, the Secretary of State for Energy Security and Net Zero, and very reassuring to hear him emphasise the government’s commitment to net zero targets and the UK’s carbon budgets.

We emphasised the need for more and regular engagement between government and industry, the continued commitment to net zero and the requirement for interim targets for the electricity sector. We also welcomed the announcement of the latest Track 2 CCS transport and storage projects, and encouraged the government to go further and faster with other CCS projects and CO2 shipping around the UK.

David Whitehouse, Offshore Energies UK said:

I welcomed the opportunity to represent Offshore Energies UK’s membership of over 400 firms at Number 10 today. These companies’ investments in innovative projects across the sector, from oil and gas to offshore wind, carbon capture and hydrogen are the key getting to net zero and beyond.

Today’s energy summit re-iterated the UK’s commitment to achieving net zero, and recognised the key role that domestic oil and gas production and carbon capture and storage will play in that journey. Through ongoing collaboration and pragmatic policy, I am convinced that the UK can unlock the private investment necessary for an energy future that provides security, affordability, creates highly skilled jobs, and tackles climate change. The offshore energy sector’s proven track record over the last 5 decades shows what we can achieve when working collaboratively.

Jon Butterworth, CEO of National Gas, said:

Gas is at the heart of the UK’s energy security. There were 260 days in 2022 where gas provided over 30% of the nation’s electricity, ensuring the lights were kept on, whilst also keeping our citizens warm and industries fuelled – protecting thousands of jobs and half a million businesses. We welcomed today’s discussion with the Secretary of State and industry leaders, and we will continue to work with the government to strengthen the resilience of our energy sector.

Emma Pinchbeck, CEO Energy UK, said:

Our industry’s united view is that achieving net zero and energy security go hand in hand, and we welcome the Secretary of State’s renewed commitment to that.

The best and quickest way to tackle those challenges, and keep bills affordable for customers, is to rapidly expand our own sources of cheap, clean power alongside reducing demand. Making more homes energy efficient is a no-brainer, and the potential that greater flexibility offers for consumers and the wider energy system will bring down costs for us all. We also need to focus on the immediate issue of support for those customers facing a struggle this winter to afford energy bills that remain much higher than 18 months ago.

Enabling all this means having the right environment to attract the necessary investment in face of increasing global competition, developing supply chains and workforce skills and tackling issues around the planning system and grid connections that can hold up the rapid progress we all want to see. Our industry is fully committed to working with government to address all these because we all see the huge opportunities on offer for our economy, our environment and our customers.

Ruth Herbert, Chief Executive of the Carbon Capture and Storage Association, said:

Today’s meeting was an important opportunity to discuss with energy industry partners how we can collectively deliver secure, affordable, decarbonised energy, with CCUS critical to achieving this and driving future economic growth.

We welcome the government’s CCUS announcements this week, which deliver momentum to the industry and a decarbonisation pathway to two important industrial regions. But we still need clarity on the timeline of support if we are to successfully store 20-30Mt of CO2 by 2030 in line with government’s net zero ambitions, and ensure we are not left behind by international rivals.

Carbon capture is an essential part of the toolkit for the UK to reach its climate targets. It will decarbonise gas-generated electricity, which will enable more renewables on the system, and it will reduce emissions from critical industries such as steel and cement to continue to support tens of thousands of jobs and ensure domestic supply chain security.

Dr Tony Ballance, Chief Strategy & Regulation Officer from Cadent said:

I was pleased to represent Cadent, the largest gas distribution company at the Energy Summit today. It was good to hear first-hand from the Secretary of State about the Government’s plans for delivering future energy resilience and achieving net zero.

I am pleased we were able to highlight the importance of hydrogen, and the need for a whole systems approach, in delivering these vital ambitions for the UK.

David Bunch, Country Chair, Shell UK said:

This was a productive meeting. Shell UK has already set out significant investment ambitions to support the country’s energy security and transition to a low-carbon energy system. The conditions for these investments are crucially dependent on fiscal stability, clarity of business models and ensuring shareholder value.

RenewableUK’s Executive Director of Policy Ana Musat said:

At a time when energy security, affordability and decarbonisation remain high on everyone’s agenda, the renewable energy sector welcomed the opportunity to meet with the Secretary of State to discuss the opportunities and challenges we face. There was widespread agreement of the need to improve the UK’s investment environment, as we’re facing very challenging economic conditions and strong international competition for supply chain, skills and investment.

We are all aware that prioritising the roll-out of cheap, homegrown renewable energy projects is essential to strengthen Britain’s energy security. Wind and solar generate power cheaper than any other new energy source, so the government can improve investor confidence in this space by ensuring that the Contracts for Difference framework takes account of the economic pressures faced by the sector.

In addition, we highlighted the need to ensure a consistent pipeline of renewable energy projects so that we can maximise the opportunities of supply chain investment in areas where the UK has a competitive advantage, such as floating wind, cables and blades. This will enable us to create more high quality well paid jobs, especially in coastal communities outside London and the south east – offshore wind alone is set to employ over 100,000 people by 2030. Every opinion poll shows strong public support for moving faster on renewables, so it’s essential that the government’s energy security strategy is centred on developing this sector.

Linda Z Cook, CEO of Harbour Energy said:

The North Sea oil and gas sector plays a critical role in UK domestic energy security. The sector is also leading the way with CCS which will enable the decarbonization of the power sector and other industrial sites and deliver the government’s target of capturing and storing 30 mtpa of CO2 by 2030.

Earlier this week we saw Harbour’s CCS projects – Viking in the Humber and Acorn in northeast Scotland – both successfully awarded Track 2 status under the government’s carbon capture programme, evidence of how the existing skills, experience and infrastructure of those currently operating in the North Sea are going to be critical in the development of this new UK industry.

However, in order to have the confidence we need to continue investing in these long-term, large-scale projects, we need a stable and sensible fiscal environment – and today’s meeting was an important opportunity to discuss that.

Paul Spence, Director of Strategy and Corporate Affairs, EDF said:

Improving energy efficiency, moving to electric vehicles and heat pumps, and investing in more low carbon wind, nuclear and solar electricity doesn’t just help the climate, it protects homes and businesses from global price spikes and ensures Britain has the power it needs. We want to accelerate delivery on all fronts.
August 5, 2023

PRESS RELEASE : Change of His Majesty’s Ambassador to Russia – Nigel Casey [August 2023]

The press release issued by the Foreign Office on 2 August 2023.

Mr Nigel Casey CMG MVO has been appointed His Majesty’s Ambassador to the Russian Federation in succession to Dame Deborah Bronnert DCMG, who will be transferring to another Diplomatic Service appointment. Mr Casey will take up his appointment in November 2023.

Curriculum vitae

Full name: Nigel Philip Casey CMG MVO

Place of Birth: Leamington Spa, Warwickshire, UK

Dates	Role
2021 to 2023	Prime Minister’s Special Representative for Afghanistan and Foreign, Commonwealth & Development Office (FCDO) Director for Afghanistan and Pakistan
2017 to 2021	Pretoria, British High Commissioner
2014 to 2016	Private Secretary to the Prime Minister for Foreign Affairs
2011 to 2013	Sarajevo, Her Majesty’s Ambassador
2007 to 2011	New Delhi, Deputy High Commissioner and Political Counsellor
2006 to 2007	Foreign & Commonwealth Office (FCO), Head, Iraq Policy Unit
2003 to 2006	Moscow, Head, Foreign Policy team
2002	Russian language training
2001	FCO, G8 and OECD, Economic Policy Department
1999 to 2000	FCO, Nuclear Policy, Security Policy Department
1996 to 1998	Washington, Private Secretary to HM Ambassador
1993 to 1995	Johannesburg, Vice-Consul Political, Aid and Media
1991 to 1993	FCO, Know How Fund for Hungary
1991	Joined the Foreign and Commonwealth Office

August 5, 2023

PRESS RELEASE : Start date for major overhaul of Plymouth flood defence barrier [August 2023]
The press release issued by the Environment Agency on 2 August 2023.

The Environment Agency’s major £3m repair and maintenance project of Plymouth’s lock gates is due to start in September.
Work is set to start in September 2023 on a major £3m repair and maintenance project for Plymouth’s lock gates. They form a key part of the city’s coastal defences, protecting hundreds of homes and businesses from flooding, and providing access to the marina and fish quays in the Sutton Harbour and Barbican area of the city.

The project is being managed by the Environment Agency, with funding from the UK Government, and will see the replacement of worn lock gate sills and other key maintenance items. Work will be carried out by leading UK construction and infrastructure services specialists Kier.

Sutton Harbour Company, which is the Statutory Harbour Authority, and which operates the lock, Plymouth Fisheries and Sutton Harbour Marina, has been working in close collaboration and partnership with the Environment Agency and Kier in planning for the project and how operations and access will be maintained in the harbour.

Following detailed consultation with harbour users, programming of the project has been significantly revised and the scheme will now be carried out in two phases, with the aim of minimising, wherever possible, disruption to the harbour’s fishing and leisure fleets.

Work to the outer gates will take place between 4th September 2023 – 8th December 2023. However, there are no planned restrictions on the operation of the lock gates after 7th November 2023, while the remainder of the first phase works are completed.

Work on the stoplog gate across the old harbour entrance is planned to take place between 13th November and 17th November, during this period the permissive footpath across the lock will be closed.

Work to the inner gates will take place between 11th March 2024 – 17th June 2024, but as above there are no planned restrictions on the operation of the lock gates after 16th May 2024, while the remainder of the second phase works are completed.

A detailed access timetable showing periods when access to the lock will be restricted has been published on the project’s dedicated website, www.lockgates.info. Mariners are being encouraged wherever possible to plan their trips around this timetable.

There will be some activity on the quayside for a week before each set of works start setting up welfare facilities and work compounds.

For the majority of the works the lock will still function on a tidal freeflow basis (generally up to three hours either side of high tide with more limited access during working hours), with a limited number of 24-hour closures clearly set out in the access timetable. Access will be maintained for pedestrians using the swing bridge across the lock.

Where necessary, mitigation measures are being put in place to support the continued operation of Plymouth’s fishing fleet and marina leisure users. These measures include pre-arranged back-up “emergency” alternative landing sites with truck access to the Fish Quay, and providing temporary emergency berthing arrangements for vessels arriving outside periods of lock access.

Documents detailing the mitigation measures have been circulated to harbour users and are available to download here.

Some preliminary dive surveys took place earlier in July prior to work starting in September but did not impact on the operation of the lock.

A Spokesperson from the Environment Agency said: “We are pleased to be able to undertake this challenging project to repair the seals between the gates the bottom of the lock and to allow it to continue to provide flood defences for the 600 homes and businesses surrounding the harbour, as well as 24-hour access to the harbour for vessels to the fish quays and marina.

“We and our Framework Contractor Kier have been working closely with Sutton Harbour Company and with their customers and have developed a pragmatic programme of work to reduce the impact of the works as far as is practicable.

“Our contractor and our project team will continue to work with Sutton Harbour to make sure that up-to-date information is provided to the harbour users for the duration of the work.”

A spokesman from Sutton Harbour Company, said: “The tidal gates are a critical part of Plymouth’s coastal flood defences and we are pleased to see such a significant investment taking place in their repair and refurbishment to ensure the continuing effectiveness of the tidal barrage for another decade.

“Throughout the planning for this project, our overriding aim has been to maintain operations in the harbour to the maximum extent possible and minimise disruption for harbour users during these essential works.

“We have worked with the fishing community and berth holders and engaged expert independent consultants to develop mitigation plans to ensure the ongoing operation of the fishing industry and to meet the needs of leisure users.”

Updates will be provided via www.lockgates.info, social media and direct to harbour users, and via regular VHF broadcasts by the Lock Team to vessel skippers.
August 5, 2023
PRESS RELEASE : Illegal angling on the rise [August 2023]
The press release issued by the Environment Agency on 2 August 2023.

The Environment Agency is warning those who fish illegally that the net is closing in after a recent rise in angling offences in the South East.

Over the past 6 months, our South East Fisheries Enforcement Officers have issued over 360 offence report forms to illegal anglers. This is already 40 more than this time last year. To crack down on offenders, fisheries enforcement patrols are being stepped up at rivers and fisheries across the region this summer.

Fishing illegally can incur a fine of up to £2,500 and offenders can also have their fishing equipment seized. The Environment Agency inspect rod licences 24/7, 7 days a week to check on cases of illegal fishing and those caught cheating the system face prosecution.

An Environment Agency spokesperson said:

This concerning recent rise in illegal fishing is not only harmful to fish populations but also has a detrimental effect on the environment and surrounding wildlife, as well as cheating law-abiding anglers.

People who don’t buy a licence are not only cheating other anglers and the future of the sport but are running the risk of criminal conviction and a fine. There is no excuse – it costs just £33 for a whole year, and you can buy a fishing licence online at: www.gov.uk/get-a-fishing-licence

We track criminals on an intelligence led basis using information gathered by ourselves, the police and other partners and reports from the public. We urge anyone to report illegal fishing as quickly as possible by calling our incident hotline on 0800 80 70 60 or anonymously to Crimestoppers on 0800 555 111.

Any angler aged 13 or over, fishing on a river, canal or still water needs a licence to fish. A 1-day licence costs from just £6.60, and an annual licence currently costs from just £33 (concessions available). Junior licences are free for 13 – 16-year-olds.

The Environment Agency carries out enforcement work all year round and is supported by partners including the police and the Angling Trust. Fisheries enforcement work is intelligence-led, targeting known hot-spots and where illegal fishing is reported.

Recent prosecutions in Kent

Following cases brought by the Environment Agency in March and June 2023 at Hastings and Folkestone Magistrates, the courts have ordered four men to pay a combined total £720, in fines, £450 in costs and £288 victim surcharges. A total of £1,478. The offenders were:
- Robert George Brealy 27, of Herne Bay was caught fishing without a licence at Longshaw Fisheries in Canterbury. Fined £247.
- Brandan Woodger 23, of Aylesford was caught fishing without a licence at Orchard Place Farm, Tonbridge. Fined £443.
- Rosen Vasilev 62, of Ilford was caught fishing without a licence at Hanningfield Reservoir, Chelmsford. Fined £443.
- Marcus Taylor 28, of Tunbridge Wells was caught fishing without a licence and also fined for when fishing, failed, when required to do so, to state his name and address to a voluntary water bailiff at Elphicks Farm Lakes in Kent. Fined £345.
August 5, 2023
PRESS RELEASE : £14 million to unlock agricultural innovation [August 2023]

The press release issued by the Department for Environment, Food and Rural Affairs on 2 August 2023.

Over £14 million is being made available in two new competition rounds to back research into innovative farming solutions.

More than £14 million is to be made available to unlock innovation and develop solutions in the farming sector in two new research and feasibility competitions under the Farming Innovation Programme, Defra has announced today (Wednesday 2 August).

It is part of the government’s delivery of its commitment to invest £600 million in innovation and productivity in the sector over three years, and adds further support to the development and take-up of innovative practices on farms to boost productivity and sustainability whilst meeting net zero targets.

The competitions are open to farmers, growers, foresters, research organisations and businesses involved in agriculture to collaborate on novel ideas and solutions.

Previous rounds have led to investment in automations to improve soft fruit yield; a ‘herd’ of lightweight, battery-operated, asparagus-harvesting robots; and the use of ultraviolet as a disinfectant in the dairy and poultry sectors.

Farming Minister Mark Spencer said:

These competitions are all about encouraging collaborations between farmers and growers on the one hand, and research organisations and industry on the other, to help bring ideas from the planning stage into practice.

The success of the previous competition rounds and the broad scope of ideas coming forward showcase the range of possibilities available for driving up productivity and solving some of the industry’s biggest challenges. I encourage everyone to take a look at what’s on offer in the latest competitions and apply.

Defra is today publishing guidance for the third round of the Small R&D Partnerships competition, which seeks to help businesses develop a new farming product or service and take it to commercialisation on the open market. Worth almost £10 million, it has been developed in partnership with the Transforming Food Production Challenge and is delivered by Innovate UK.

The second round of the competition has already funded projects including exploring how to breed sheep with a naturally low carbon footprint to help sheep farmers contribute to the journey towards net zero, and a project combining generation of electricity with growing berries to power operational processes such as automated picking, sensors and vehicles.

It comes alongside new guidance for a £4.5 million Feasibility Studies competition which aims to support businesses and researchers through the difficult testing phase of an idea, checking whether it works in practice and helping them assess whether to invest in a project.

It looks for early-stage solutions that have the potential to substantially improve the overall productivity, sustainability and resilience of farming, and move existing agricultural sectors to net zero.

Successful applicants in previous rounds include a study to identify fungal strains that can help fight against insect and fungal pests in wheat crops, reducing the costs associated with multiple applications of chemical pesticides, mechanical damage from repeated spray applications and crop yield losses.

Farmers, growers, foresters, research organisations and businesses are encouraged to read the guidance ahead of applications opening.

Applications for the Small R&D Partnerships competition open on 14 August and the Feasibility Studies competition window is open from 18 September.

Dr Katrina Hayter, Executive Director for the Healthy Living and Agriculture Domain at Innovate UK, said:

We look forward to supporting the next round of applicants and identifying promising partnerships that hold the potential to address the sustainability, efficiency, and net zero challenges confronting the UK’s agrifood industry.

Feasibility studies mark the initial stage in researching an idea that could improve farming, while small R&D partnerships are a vital step to empowering businesses to forge novel farming products and services, paving the way towards successful commercialisation.

By fostering collaborations between farmers, growers, agri-businesses and researchers, these partnerships become the driving force behind transforming innovative solutions into practical applications.

Since opening in October 2021, 16 competitions have launched under the government’s £270 million Farming Innovation Programme and, as of August 2023, more than £123 million in funding to industry-led research and development in agriculture and horticulture has been announced.

The importance of innovation in the food and farming sectors was highlighted at the recent Farm to Fork Summit where the government announced a package of support for the farming sector, including new measures to ensure the sector remains at the forefront of adopting new technologies and techniques.

This included the On-Farm Environmental Resilience competition, which will see up to £12.5 million awarded to projects driving the development of new technology and innovative farming methods, with a focus on practical solutions to make a real difference on farms. The competition closed at the end of last month and projects will be notified of the outcome of their applications in the autumn.

August 5, 2023
PRESS RELEASE : Rishi Sunak call with Chancellor Scholz of Germany [August 2023]

The press release issued by 10 Downing Street on 2 August 2023.

Prime Minister Rishi Sunak spoke to the German Chancellor Olaf Scholz this morning.

Following on from last month’s NATO Summit in Vilnius, the leaders stressed the importance of upholding European security. The Prime Minister expressed his hope that the UK and Germany can continue the extensive work we do together to this end.

The Prime Minister and Chancellor Scholz discussed the concerning situation in Niger. The UK and Germany have both condemned the recent attempts to undermine democracy, peace and stability in the country. The Prime Minister welcomed our shared efforts to uphold stability and protect our nationals in Niger.

The leaders looked forward to seeing one another in person at the G20 Summit in India next month.

August 5, 2023
PRESS RELEASE : FSD Africa invests £10m in Nigeria’s climate infrastructure [August 2023]

The press release issued by the Foreign Office on 2 August 2023.

FSD Africa Investments injects £10m in innovative risk-sharing facility in partnership with InfraCredit to support Nigeria’s sustainable climate infrastructure

FSD Africa Investments, in partnership with InfraCredit, have invested £10m into a first-of-its-kind risk-sharing backstop facility, designed to unlock local currency funding for sustainable infrastructure development in Nigeria.

The Risk Sharing Backstop Facility (RSBF) will address the challenge of low credit enhancement by mobilising local institutional investment via bonds into viable early-stage or green-field climate-aligned infrastructure projects.

By increasing the accessibility of finance for climate-aligned infrastructure projects, the facility will help Nigeria accelerate social and economic development, green economic transition as well as deliver on climate goals.

Backed by the UK International Development through the Foreign, Commonwealth & Development Office (FCDO), FSD Africa Investments (FSDAi) is pleased to be undertaking this £10m investment in partnership with InfraCredit – an established player in the sustainable infrastructure financing space.

InfraCredit’s current investments and project pipeline demonstrates the breadth and variety of projects this facility will support, with projects ranging from distributed renewable energy services for urban residences, to commercial and industrial renewable projects, edge-certified green housing and e-mobility infrastructure.

The RSBF will raise funding in series, initially from FSDAi, and eventually from other funders – aiming to reach a total capital base of up to US$50m.This investment therefore aligns with one of FSD Africa’s primary objectives – developing capital markets by tackling blockages in the system.

UK Foreign Secretary, James Cleverly, said:

This investment further demonstrates the UK’s commitment and contribution to Nigeria’s transition to clean energy and builds on decades of UK leadership in mobilising support for climate-related infrastructure challenges. Just like the successes of British International Investment (BII) and our Private Infrastructure Development Group (PIDG), I am optimistic that InfraCredit will continue to grow and mobilise even more private sector capital to invest in better, greener infrastructure.

Chief Investment Officer, FSD Africa Investments, FSD Africa, Anne-Marie Chidzero, said:

FSDAi’s partnership with InfraCredit on the bridge-to-bond facility introduces a derisking financing solution to mobilise short and medium-term local institutional investment into critically needed infrastructure projects that are currently considered un-bankable without alternative credit enhancement. Moreover, as Africa’s economies struggle to mobilise capital to develop key climate mitigation and sustainable power generation projects, this facility comes as a timely and much-needed intervention for Nigeria’s infrastructure landscape.

Chief Executive Officer, InfraCredit, Chinua Azubike, said:

I am delighted to work with FSD Africa Investments on an innovative facility which will support much needed, but underfinanced projects realise their ultimate goals and purpose.

Smart use of catalytic capital can dramatically increase the role of private capital and local intermediaries in investing in Nigeria’s sustainable infrastructure space and help the country develop responses to the significant challenges which confront it from the deteriorating environment and ecology to an unstable energy mix and severe social inequality.

August 5, 2023
PRESS RELEASE : Deal struck on a renewed Fiscal Framework for the Scottish Government [August 2023]
The press release issued by HM Treasury on 2 August 2023.

The UK and Scottish governments have agreed on an updated Fiscal Framework, enabling the Scottish Government to invest further in key infrastructure.
- UK Government will continue to top-up the Scottish Government’s tax revenues, worth £1.4 billion last year, as a benefit of strength and scale of the UK.
- Boost to borrowing powers and backing of Barnett formula will build a better future for Scotland and help to grow the economy.
- Chief Secretary to the Treasury John Glen hails a fair and responsible deal in line with the Prime Minister’s economic priorities.
The UK and Scottish Governments have today, 2 August, reached an agreement on an updated Fiscal Framework.

Holyrood’s capital borrowing powers will rise in line with inflation, enabling the Scottish Government to invest further in schools, hospitals, roads and other key infrastructure that will help to create better paid jobs and opportunity in Scotland.

The new deal maintains the Barnett formula, through which the Scottish Government receives over £8 billion more funding each year than if it received the levels of UK Government spending per person elsewhere in the UK. It also updates funding arrangements in relation to court revenues and the Crown Estate.

Chief Secretary to the Treasury, John Glen, said:

“This is a fair and responsible deal that has been arrived at following a serious and proactive offer from the UK Government.

“We have kept what works and listened to the Scottish Government’s calls for greater certainty and flexibility to deliver for Scotland.

“The Scottish Government can now use this for greater investment in public services to help the people of Scotland prosper. These are the clear benefits of a United Kingdom that is stronger as a union.”

The generous funding arrangements for tax will be continued, with the Scottish Government continuing to keep every penny of devolved Scottish taxes while also receiving an additional contribution from the rest of the UK.

Under the previous Fiscal Framework, the Scottish Government could borrow £450 million per year within a £3 billion cap, as well as receiving a Barnett-based share of UK Government borrowing. Going forward these amounts will instead rise in line with inflation, which supports additional investment across Scotland and lays the foundations for economic growth.

The UK Government has listened to calls from the Scottish Government for greater certainty and flexibility to help them manage their Budget and agreed a permanent doubling of the resource borrowing annual limit from £300 million to £600 million. Limits on how much can be withdrawn from the Scotland Reserve to spend in future years will also be removed. This will boost spending through borrowing by £90 million in 2024/25. All future limits will increase in line with inflation.

Scottish Secretary Alister Jack said: “The renewed Fiscal Framework shows what can be achieved when there is a collaborative focus on delivering economic opportunity and why we are stronger and more prosperous as one United Kingdom.

“The deal – worth billions of pounds to Scotland over the coming years – builds upon work to support economic growth, provide more high skill jobs, investment and future opportunities for local people, such as the establishment of Investment Zones and Freeports in Scotland.

“The UK Government knows that high prices are still a huge worry for families. That’s why we’re sticking to our plan to halve inflation, reduce debt and grow the economy.  As well as providing targeted cost of living support, we are directly investing more than £2.4 billion in hundreds of projects across Scotland as we help level up the country.”

As both governments continue to work together to tackle challenges like the cost of living, an updated Fiscal Framework equips the Scottish Government with the instruments for growth while protecting the wider public finances.
August 5, 2023
PRESS RELEASE : Consultation to ban scam calls launched [August 2023]

The press release issued by the Home Office on 2 August 2023.

A special support service for victims of fraud has also been expanded to cover all 43 police forces in England and Wales.

Plans to ban cold calls for financial products such as sham cryptocurrency schemes, mortgages and insurance have been set out with the launch of a consultation, marking the next step in delivering the government’s Fraud Strategy.

The 8-week consultation, published on 2 August, will cover proposals to ban cold calls offering any financial products to clamp down on fraudsters seeking to trick people into buying fake investments. Once in force, people receiving a cold call offering these types of products will know that it is a scam, and fewer people will become victims.

Fraudulent investment schemes represent a significant threat to the UK economy, consumers, and society, with victims losing £750 million between 2022-23, according to data from the City of London Police.

A specialist team which provides support to victims of fraud, known as the National Economic Crime Victim Care Unit, has also been rolled out to all 43 police forces across England and Wales since the Fraud Strategy was announced.

Part funded by the Home Office, the service has existed as part of City of London Police since 2015, and is estimated to have stopped more than £2.8 million being lost to fraud. Last year its teams supported more than 113,000 victims and its rollout to all police forces will ensure more people receive the help and support they need.

Security Minister Tom Tugendhat said:

Fighting fraud is at the heart of our campaign to fight crime. The National Economic Crime Victim Care Unit and the cold calling consultation are delivering on our pioneering Fraud Strategy.

Fraud doesn’t just lead to financial loss, it can destroy confidence and lead to severe stress. That’s why it’s so important that victims get the best possible care and support.

The cold calling consultation is an important step forward in our efforts to block fraud at source. It will have a major impact once it is in force.

Andrew Griffith, Economic Secretary to the Treasury, said:

Cold calling for financial services and products has long been used by fraudsters to manipulate and trick members of the public into scams. These cold-hearted criminals will often purposely target the most vulnerable and use a range of deceitful tactics to take advantage in any way they can.

We will ban cold calling for all consumer financial services and products, so the public can be sure that it’s not a legitimate firm if they get a call about a financial product out of the blue without their consent.

We want people to feel confident to put the phone down and report these illegitimate calls.

The government’s Fraud Strategy, published on 3 May, is already turning the tide against fraud.

A key pledge within the strategy is to ensure more victims are reimbursed and recently passed legislation will enable this to happen.

The Financial Services and Markets Act, which received Royal Assent on 29 June, enables the Payment Systems Regulator to require payment service providers to reimburse a customer if they become a victim of authorised push payment fraud. These are frauds where the victim has been deceived into sending a payment from their bank account to a fraudster. This change will provide greater protection for victims of these frauds.

Improved support to block fraud and protect victims will also be achieved through the Online Advertising Programme, which will deliver tougher measures to tackle harms caused by illegal advertising online, including fraud.

A range of targeted measures will be put together to address the most serious risks linked to online advertising. The government will launch a consultation on the details of the potential legislation in due course.

The online advertising taskforce set up as part of the programme met for first time last week. It brings together tech trade bodies and the Advertising Standards Authority alongside the government’s Anti-Fraud Champion, Anthony Browne. The shared mission is to prevent fraudulent messaging online and stop age-restricted products being marketed to children.

Anti-Fraud Champion Anthony Browne said:

80% of fraud is cyber-enabled and often starts with scam social media posts, a fraudulent email or false advertising and this makes engaging with the tech sector particularly important.

Our tech sector is among the best in the world and has a proven track record for innovation. It is of the utmost importance that we work with them to bring about better protections for their customers.

The Economic Crime and Corporate Transparency (ECCT) Bill is also anticipated to receive Royal Assent later this year. Once in force, it will reform corporate law by creating a new criminal offence, called failure to prevent fraud, which places an onus on all large companies to actively prevent fraud being committed by their staff.

If a member of staff commits fraud, for the benefit of their employer, their employer will be held criminally liable unless they are able to prove they had implemented reasonable measures to deter such offending. The government will publish guidance on these measures in due course.

Each of the reforms proposed by the ECCT Bill strike the right balance between holding businesses accountable for their actions without placing onerous regulatory demands on them.

It will level the corporate playing field by ensuring all companies play by the same rules.

August 5, 2023

Tag: 2023

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