Tag: 2024

  • Keir Starmer – 2024 Speech on Labour’s Six Steps for Change in Wales

    Keir Starmer – 2024 Speech on Labour’s Six Steps for Change in Wales

    The speech made by Keir Starmer, the Leader of the Opposition, on 30 May 2024.

    Thank you, Michael. That was a really powerful address from you, and it’s a big thing, to come up here and say what you just said, and it’s means a huge amount, to make the big decision to change the party you vote for, as a life long Tory voter, is a really big thing.

    For me, it vindicates all the hard work of the last four and a half years. I was determined to change this Labour Party and put it back in the service of working people, and your words are so important to me, to all of our candidates, to all of our staff, to all of the Labour movement, when you say: life long Tory voter, I’ve had enough, I’m voting Labour. Thank you, Michael.

    Vaughan, thank you for your words. Thank you for your leadership here in Wales, it’s been really good to work with you so far in my position as Leader of the Opposition. I’m really looking forward to a new partnership, where we can both deliver together for Wales. Thank you Vaughan.

    And thank you all for that incredibly warm reception when we walked in. It was fantastic to see everybody in the room, such a great feeling, and Abergavenny, what am amazingly beautiful place. We arrived last night and the sun was shining, absolutely stunning.

    Not that long ago, Vic and I and the kids were at Crickhowell, we holiday up there. It is a really beautiful part of Wales, and many people in this room will have been to the Bear Pub, I’m sure in Crickhowell. If you haven’t been, make sure you go before you leave this part of the world.  As Caroline Harris will attest, Vic and I holiday in Wales every year. We go down to Swansea, she looks after and last year we were in The Gower near Oxwich and it’s really really beautiful.

    So I love being here, and it’s fantastic to be back here today in Wales. And what an opportunity, what a chance to launch our campaign. Because Rishi Sunak has finally called the General Election. He has given us our chance to take our case to the country, and I don’t know about you, but I think Wales has been waiting for this General Election for a very very long time.

    And we in the Labour Party have been working for, and waiting of this general election for a very very long time. And if just over a week ago, Rishi Sunak thought he was laying a careful trap of an ambush, he didn’t get catch us. He caught himself in his own ambush, so now we get the chance. What went through all of those speeches this morning, is this strong sense that now is the time for change.

    Change and hope for a better future. With that sense of national renewal, taking our communities, our countries forward for the future. So I say to you, if you were a family, that’s been struggling with the cost of living for a long time now. And I mean struggling. Struggling across Wales, struggling elsewhere, if you are a business that has been absolutely up against it these past few years, and if you have been serving your country, or serving your community, then this election, this election is for you.

    Because this is the chance to end the chaos and the division, to turn the page, to rebuild Wales and rebuild our entire country together to elect a government that as Vaughan said, would serve working people here in Wales and make that connection – a government in Westminster, and government in Wales, working together and delivering for Wales.

    I don’t know about, but I think we have all had enough of fourteen years of chaos and division. Chaos and division, feeding chaos and division. And it feels like we’re spinning round and round in circles and getting absolutely nowhere.

    And there’s a cost to that. There’s a human cost to that. Go to Port Talbot, talk as I did who are facing the prospect of losing their job in the steel industry. And I say to Rishi Sunak, go and look those people in the eye as I’ve done, and you’ll see their anxiety about the damage that is being done by a government that doesn’t have a plan. A government that is too divide to take our county and our industries forward. Go and talk to those workers, those families, years and years of investment, skills that they have put in, facing now an uncertain future. That is the human cost, that they are paying, for a Government that is divided, chaotic and for a Prime Minister who won’t pick up the phone to the former First Minister in Wales to do a blind thing about those jobs.

    I’ve been there, I’ve looked them in the hours, and I’ve told those workers: I will fight for every single job that they have there and for the future of steel here in Wales. We must fight.

    Because this is a change election. There are two futures, two futures out there on the 4th of July. Two paths that we can take. It is a very very clear choice. And we need to spell it out. More chaos and division, cos they’re not going to change. It would be more – fourteen years already – another five years of chaos and division, non-delivery and failure.

    Or, turn the page, hope and unity, and rebuild our communities and our countries with Labour. A Government that works for you. That tires cup no more conflict, between the first minister here and the prime minister in London, but both working together for Wales Imagine what could be delivered for Wales, with that combination of two government. This is a huge prize. To elect a Government that wants devolution to work. That doesn’t want the conflict, will get around the table, will work together, and every day deliver for the working people of Wales.

    So the first thing we have to do is end that chaos and division. The good news is, the good news is, you don’t have to put up with it anymore.

    A vote for Labour is a vote to turn the page to change our country. We’ve changed the Labour Party. Put it back in the service of working people. We are humbly asking permission from people for the opportunity to change our country and put it back in the service of working people.

    Now I know that will be difficult. I’m not going to stand here and say it will be easy. It will be difficult. Tireless work. But I’ve never shied away from the difficult. When I was heading up the CPS, we had to change it, it was difficult. Many people said don’t do It, slow down. But we changed it.

    When I worked in Northern Ireland, it was difficult work. We were trying to change the police service, so it served all communities. It was difficult, painstaking work, but we did it.

    And here in the Labour Party, we had to change our party, and put it back in the service of working people. That wasn’t easy. Lots of people said don’t do it that way. Don’t go so fast. But we did it. We will never shy away from that.

    Because driving through this for me has always been country first, party second.

    And the opportunity is now there to work together to deliver for Wales. And there is no brighter future without Wales. Because I believe that the solidarity of working people is not just our identity, it is our argument. It’s the most powerful force for uniting all four nations across the United Kingdom. So this is the change that we must bring about.

    It is difficult. It is ambitious. And like any ambition, you need first steps. You need to set out what the big thing is that you want to change, and what the first steps are going to be realise that change.

    And that’s why I’m proud to set out our first steps here today. As you would expect, ruthlessly well-prepared. Thought through. Ready to deliver. Fully costs and fully funded. Which is more that can be said of the ideas the Tories are flinging on the table on the daily basis, rummaging around in the toy box of bad ideas and putting one on the table very day. Unfunded and uncosted.

    Step 1: Economic stability.

    In 2024, it feels odd to have to say to you that stability is change. But it is. That’s what we haven’t had. Stability. Because stability is the foundation of growth. We won’t get economic growth without stability. And we all know that if you lose control of the economy, it’s working people who pay the price.

    Liz Truss lost control of the economy. And in Wales, working people on a mortgage, are now paying an average £240 more each and every month.

    Rishi Sunak says we’ve turned a page.

    Liz Truss says – put the people who helped me in the House of Lords.

    Rishi Sunak says “OK”.

    And in Wales, each and every day, families are paying hundreds of pounds more, a reminder of the cost, they are paying of the damage the Tories did. TATA Steel are paying the price. We have to invest if we want the future of steel in this country. We have to invest in all of the sectors that need it. That’s why we want to set up a National Wealth Fund. Other countries have it. We can drive our industries forward, with the growth that we need, the businesses, the partnership that will help us deliver. And that’s why economic stability is step one.

    Step 2: Working with Vaughan, bringing down those waiting list.

    There’s too many people on waiting lists. And we’ll do that – fully funded and fully costed. We’re going to get rid of the non-dom tax status. Properly. That’s the tax that allows the super rich to be here in this country, making their money, but not pay their tax here. I don’t agree with that. I think you should be paying your tax here, and we’ll make sure that people do.

    And we’ll also crack down on those who are avoiding their tax. And with that money, we’ll bring down the waiting list. And that means we can invest in England in the NHS, 40,000 appointments each and every week. What a difference that will make. And that of course, as you all know, also means more money for the NHS in Wales. SO that in Wales are can build on the work that is being done.

    Now this matters to me. My mum was a nurse. She was a really proud nurse. There are some fantastic pictures of her in her nursing uniform. Such pride. We say this yesterday buy the way as well, we were in Worcester at the college there where they ar training up the next generation of nurses. I saw the same pride there that  I saw on the pictures of my mum. It was her livelihood. But of course, it became her lifeline. Because she was extremely ill for most of her life, and literally her life depended on the care that the NHS gave her time and time and time again, in her particular case.

    There other cases in this room as I look around. SO it matters to me, and it matters to Vaughan, because of cause the NHS saved his life earlier in his life. So it matters to me. And the idea of us being able to work together, to make sure the NHS is at its very best, capable of delivering. Not just back on it’s fit, but fit for the future.

    Of course we are proud of the NHS. Roots right here. We look back great pride every year. Every year in the Labour movement we celebrate the NHS. It is one of the greatest achievements of any government ever, that Labour achievement. I want not just to look back, proudly, I want to look forward and be able to say that the NHS that we will build will be there for the next seventy years to be able toy rely on it in the way that Vaughan and I and my mum relied on it.

    Step 3: Boarder Security Command.

    Now the government has lost control of our borders. Lost control of our borders. 10,000 people this year alone have crossed the channel in small boats. Ten thousand. That is a record. So for all of the rhetoric, that is a record number coming across.

    Nobody but nobody should be making that dangerous journey across the channel, and it’s a test for all governments as to how they respond to it – and would be governments – it’s a test for the current government, and for us: what is your response to this serious problem? Exploited vulnerable people being put in boats to go across the channel by gangs that are making huge amounts of money from them. And there is a choice, as there is a choice in pretty well everything political, what is your response:

    You can either have a gimmick, or a serious response.

    What has the government gone for? A gimmick. The Rwanda Scheme. Now Rishi Sunak never believed in it. When he first saw it, as Chancellor, he didn’t back it. He tried to block it. He didn’t think it would work. I’m not surprised. Because if the numbers going to Rwanda are less than one percent of those that arrive by small boat, the ninety nine per cent of them are not going.

    And if you don’t think that the criminal gangs running this trade are telling that tot the people that they’re exploiting, then you don’t know criminal gangs. IT was never going to work. He knew it wouldn’t work,. But what did he do. He caved in to his party. He didn’t stick to his guns. He caved in. £600 million later, of taxpayer money – it’s not working, and what has he done, he has called an election before it can be tested.

    Weakness upon weakness. In the Labour Party this changed Labour Party, we go for serious solutions. This is a serious problem. So, Border Security Command: A new elite force, with a new commander, bringing together MI5, the police, national security agencies, the crown prosecution services: an elite force, a new command with new resources and new powers drawing on counter terrorism powers. Because when I was Chief Prosecutors had to work with police and law enforcement across Europe to bring down terrorist gangs. These were sophisticated terrorist gangs, and we did it, and we bought them down, and they’re now serving time.

    I will never accept that somehow the only gangs that apparently we can’t take down by the same means are the vile gangs running this smuggling trades. I’ll never accept that. We will break it.

    Step 4: Great British Energy.

    A publicly owned company. This is a company owned by the taxpayer, making money for the taxpayer, and investing in green British power. And I’ll tell you why we need it, Because we have been overly exposed by the terrible decisions of this government. Ten years or so ago, they said “cut the green crap”.

    Remember that? Cut the green crap. And they stopped investing in renewables. They stopped the insulation that we need on our homes, and they left us exposed to the sort of challenges that we have internationally. Exposed.

    And so when Ukraine was invaded, and Putin invaded. We were more exposed than other countries, and you’re paying more on your bill because of the approach that they took. Bills are up. We have got to turn that around.

    It is a challenge, we’ll rise to that challenge. We’ve lost ten years because of the approach of the Tories. But it is also probably the single biggest opportunity that we have – not just for lower bills – but for the next generation of jobs. And Vaughan and I went to Holyhead Port just a few weeks ago, to look at the potential of that port, for floating offshore wind.

    And we have a plan to transform that port to make sure it can handle floating off shore wind. Floating offshore wind is the next generation. It is going to be the gamechanger. And some country is going to get ahead and be the leader in the world. We’ve got the skills, we’ve the potential, we’ve got the ports, we need to take advantage of that, and what we’ve got from this government, is such a lack of direction that just as all the other countries are getting in to the race, they’re in the changing room.

    Not prepared to let that happen. The race is on. I want to be not just in that race, but as you’d expect with me, I want to win that race. And I think we can win that race.

    Step 5 – Tackling anti social behaviour.

    Now I don’t know how many times people have said to me, when I was prosecutor, since I’ve been in politics: Keir, anti social behaviour, it’s low level, it’s low level crime. Shouldn’t really concentrate on it.

    I don’t want to hear that ever again. It blights the lives of so many people.

    Whether they are living in a huge community, a small community, a middle sized community. If you feel that you can’t open your front door after dark, if you feel can’t walk down your own street, or walk around your own community, if you feel as some of our young people do, that they can’t even walk down their high streets without antisocial behaviour, that has a huge impact on people’s lives and how they feel about taking themselves forward.

    And, of course, on our business. It is not low level. And that’s why we’ll have 13,000 new neighbourhood police, working in their communities and dealing with antisocial behaviour, because I am determined that we will have a safe and secure environment for every single person in Wales and across the United Kingdom to live in, so that they can take themselves forward, and build the lives that they deserve.

    Step 6 – Working with the Welsh Government, to ensure that we have, and are able through our education, to prepare our young children, your young people, for the lives that they are actually going to live and the work they’re actually going to do.

    Now I was the first in my family to go to university. I know the power that education can have on a young person’s life. And I want every single young person, wherever they come from, whatever their background, to feel that success belongs to them.

    Vaughan shares this approach. And Welsh Labour is already doing so much. The biggest I think school and college building programme since the 1960s. That’s the investment already happening here in Wales. Imagine how much more we could with the Government in Westminster working with the Government in Wales and delivering for our children, the future that they deserve.

    So six steps, one card, make sure you’ve got yours. We’re going to take this to every single doorstep across Wales to make our case for a changed future. One card, six steps. Wales and Westminster working together. Turning the page. A change election. Where we can stop the chaos and division. Put an end to it. We can turn the page and rebuild Wales and the United Kingdom together, working together for the future. That is the way forward, that is the choice, Vote Labour.

  • Keir Starmer – 2024 Country First, Party Second Speech

    Keir Starmer – 2024 Country First, Party Second Speech

    The speech made by Keir Starmer, the Leader of the Opposition, on 27 May 2024.

    Thank you all for coming here on a Bank Holiday Monday.

    At least we’re by the seaside. And we are in Sussex, this is a part of the world I know very well. I have family here – close family. Both my sisters, and my uncle lived for many many years in Worthing.

    Now, like everyone, I imagine my character is shaped by where I started in life. I grew up in a small town, not a million miles away from here, a place called Oxted on the Surrey-Kent border.

    Similar to Lancing, minus the sea. And should you go to Oxted, some of you could stop off if you’re travelling back to London, you will see a place that, in my opinion, is about as English as it gets.

    A mix of Victorian red bricks and pebble-dashed semis while all around you have rolling pastures and the beautiful chalk hills of the North Downs.

    I loved growing up there. You could make easy pocket money clearing stones for the local farmers, that was actually my first job. And you could play football until the cows came home – literally. At my first football club, Boulthurst Athletic, we shared our home pitch with the local cows.

    It’s part of why I love our country. Not just the beauty – or the football – also the sort of quiet, uncomplaining resilience. The togetherness of the countryside. That is the best of British.

    And, to be honest – it’s just as well. Because you need it. I mean – anyone who thinks that hardship in Britain is found only in our cities, anyone who thinks there’s no struggle outside of our cities, yes even here in the South East, let me tell you – they know nothing of the countryside.

    My own story is a testament to this. Because it wasn’t easy for us.  My dad was a tool-maker. He worked in a factory – my Mum was a nurse. But for most of her life she had a debilitating illness, Still’s disease. To be honest, she would hate that word, ‘debilitating’, because mum never gave up, she never complained. But her illness did shape our lives.

    This was the 1970s of course, so there were hard times. I know what out of control inflation feels like, how the rising cost-of-living can make you scared of the postman coming down the path: “will he bring another bill we can’t afford?”

    We used to choose the phone bill because when it got cut off, it was always the easiest to do without. We didn’t have mobiles back then but you could still just about get on with it.

    Now, all this has stayed with me. It’s shaped the plan I have drawn up for Britain and the importance, above all, of economic stability. The need to never put working people through the whirlwind of chaos, the rising taxes, rising prices, rising mortgage costs – five thousand pounds for every working family – that’s what the Tories have inflicted on Britain.

    The price working people have paid for their chaos, it’s unforgivable.

    But as I reflect and look forward to this election I believe my background has also shaped my politics in a deeper way. Look – this England has always felt fairly removed from Westminster. Politics has always been something that happens far away.

    And yet something more profound has changed during the last fourteen years of Tory Government. People now feel like more and more of the decisions that affect their community are taken by people who not only live miles away but have little empathy for their challenges.

    A politics that is at best doing something to people, not with them. But at its worst, as we saw in horrifying detail in Westminster last week, those twin injustices – the Horizon and Infected Blood scandals, is something much, much darker even than that.

    It’s about respect, or to be more precise, the lack of it – that is the canary in the mine of injustice. For a long time now working people have believed opportunity in Britain is stacked against them. But now we are at a dangerous new point close to crossing a rubicon on trust, not just in politics but in so many of the institutions that are meant to serve and protect the British people.

    A moment where people no longer believe their values or interests carry the respect of those in power. And when you put that alongside a Government, that over fourteen years has left living standards in this country worse than when they found them, that has torched any semblance of standards in public life, Westminster parties that broke rules they put in place to save lives – rules they expected you to follow but ignored themselves – then you get a crisis in nothing less than who we are as a nation.

    The values that have held us together, that have driven us on, through the hard times, towards our greatest achievements, taken to the edge by these Tories.

    Healing these wounds is what national renewal means. Politics has to be about service. Britain must be a country that respects your contribution. Everyone – not just those at the top – deserves the chance to get on. These are the ideas I’m fighting for.

    This is my project – a Britain once more in the service of working people. Country first, party second.

    Now – I don’t know if this is a new politics or whether it’s simply a return to something older that used to be taken for granted.

    But public service is the bare minimum you should expect. And you also deserve the security, the certainty, the basic ordinary hope, that Britain will be better for your children. No matter our struggles – we always had that in the 1970s – my parents always believed that, in the end, hard work would be rewarded and Britain would be better for their children. For me.

    Now, that might not sound like much to some people but you can’t underestimate how important it is for working class families like mine, how much it comforted my parents.

    It gave us a hope and a stability we could build our lives around and I believe it’s what working people want now – more than anything. They want to believe in the future. They want, when they say to their children “work hard and you can achieve anything”, for that to feel true.

    But after fourteen years of Tory damage to our values, the service and security they should expect as a given. They just don’t believe it anymore – and that has consequences for all parties.

    Look – whatever the polls say, I know there are countless people who haven’t decided how they’ll vote in this election. They’re fed up with the failure, chaos and division of the Tories, but they still have questions about us: has Labour changed enough? Do I trust them with my money, our borders, our security.

    My answer is yes you can, because I have changed this party, permanently.

    This has been my driving mission since day one. I was determined to change Labour so that it could serve the British people, give them a government that matches the ambition they have for their family and community.

    And the very foundation of any good government is economic security, border security, national security. Make no mistake – if the British people give us the opportunity to serve, then this is their core test. It is always their core test. The definition of service. Can you protect this country?

    I haven’t worked for four years on this, just to stop now. This is the foundation, the bedrock that our manifesto and our first steps, will be built upon.

    And then on that foundation with an end to the Tory chaos. We can start to rebuild our country.

    Step one – economic stability. The very foundation of growth, with tough spending rules that mean we can keep inflation, taxes and mortgages low. I am fed up of listening to the Prime Minister tell you we have turned the corner. That is a form of disrespect in itself.

    Taxes – higher than at any time since the war. Chaos – hitting every working family to the tune of £5000, and a Prime Minister prepared to do it all over again. He says he wants to get rid of National Insurance. £46bn – that is currently used on your pension and the NHS and he’s not prepared to say how he will fund it.

    That means, at this election – either your pension is under threat, or he’s prepared to blow the economy up all over again. He hasn’t learned a thing. Working people need stability. They want things to improve, they want things to move on, they want change.

    But they expect you to take care of the public finances as well. Because if you lose control of the economy – it’s working people who pay the price. Liz Truss lost control of the economy. I am not prepared to let a Labour Government ever do that to working people.

    That’s why stability is our first step – a non-negotiable pact with working people – the symbol of a changed Labour Party – ready to serve our country.

    Step two – we will cut NHS waiting times. 40,000 extra appointments every week paid for by cracking down on tax avoidance and non-doms.

    Step three – we will launch a new Border Security Command with new specialist investigators, new resources, and new powers – including counter-terrorism powers. These vile criminals are making a fortune putting vulnerable people in boats made to order, sending them across the busiest shipping lane in the world. Nobody but nobody should be making that journey.

    When I was Director of Public Prosecutions – I worked on operations that smashed terrorist gangs across Europe. I will never accept we can’t do the same for these vile gangs. Labour will secure Britain’s borders.

    Step Four – we will set up Great British Energy, paid for by a windfall tax on the energy giants who made record profits while your bills went through the roof. A new company – owned by the taxpayer, making money for the taxpayer, harnessing the opportunity of clean British power, making us energy independent, removing Putin’s boot from our throat and cutting bills in your home – for good.

    Step five – we’ll crackdown on anti-social behaviour. I don’t want to hear another person tell me this is low-level crime – I’ve been hearing that all my life. It blights communities big and small, it always has. I know Worthing well, as I say – my Uncle lived here. And three years ago – I walked around with the police here, talked to some of the people on the high street and they told me in no uncertain terms the impact anti-social behaviour was having on them.

    So we will get more police on the streets in your town. 13,000 new officers and community support officers paid for by cutting down on wasteful contracts.

    And step six – we’ll also get 6,500 new teachers in the classroom paid for by removing tax breaks on private schools, a down payment on an education system that we will reform. More creativity, more confidence, more resilience, for all children.

    I was the first person in my family to go to university. I know the power of education. Every child should grow up believing that success belongs to them, that they don’t have to change who they are just to get on, that is the Britain we will fight for.

    Labour will deliver opportunity for our children.

    Now – I am proud of these first steps. They are a new path for our country, a plan that will turn the page, deliver stability and change. And because we have been so ruthless in making sure these policies are deliverable, fully-funded, ready to go.

    We also provide the certainty that working people, businesses and communities need. A clear direction. Not the endless spinning around that successive Conservative governments have subjected our country to. The Prime Minister with a new plan every week, a new strategy every month, and at this rate – a new election campaign every day!

    I’m not joking. All this spinning round and round, it’s symbolic of the chaos and the instability. You’ve seen that again over the past few days. The desperation of this national service policy – a teenage dad’s army – paid for by cancelling levelling-up funding and money from tax avoidance that we would use to invest in our NHS.

    All elections are a choice and this is a clear one: levelling up and the NHS with Labour. Or more desperate chaos with the Tories. That is the choice.

    But in a way this desperation tells another story and underlines how elections are about more than individual changes or policies, but about values, temperament, character and a bigger question: whose side are you on? Who do you hold in your mind’s eye when you are making decisions?

    Everything I have fought for has been shaped by my life, every change I have made to this party has been about this cause, the answer to that question, the only answer, the working people of this country delivering on their aspirations, earning their respect, serving their interests.

    I know those people are looking at this election, looking at me personally. So I make this promise: I will fight for you.

    I took this Labour Party four and a half years ago and I changed it into the party you see today. I was criticised for some of the changes I’ve made – change is always like that, there are always people who say don’t do that, don’t go so fast – but whenever I face a fork in the road, at the Crown Prosecution Service, in my work in Northern Ireland, and especially here in the Labour Party… it always comes back to this, the golden thread: country first, Party second.

    Because you cannot restore trust and respect with the politics of protest. You cannot move our country forward with gimmicks and gestures. And you cannot truly serve the country if you only do what is convenient, that is why I changed the Labour Party. That is how we serve the British people.

    I see no fight in the Prime Minister. No appetite to do the same for his party. They will not change. Seriously – whenever he is confronted by factions in his party, people who are miles away from serving the values of the British people, he caves in – every time. A ‘party-first’ weakness at the heart of his leadership.

    Rwanda is the perfect example. He knows it won’t work, he said that. He tried to stop it when he was Chancellor but he was too weak to stand up to his party. He caved in and now he’s gone through with it anyway it’s cost you six hundred million pounds and he’s called an election before it can be tested. Weakness upon weakness.

    How do you think working people feel when the Prime Minister says we’ve turned a corner? How do you think they feel when they see the people who did that to their mortgages, swanning around in the House of Lords because he was too weak to stand up to them.

    Service isn’t just a word, it requires action. You have to roll up your sleeves and change things for the better. I have changed this Labour party, dragged it back to service, and I will do exactly the same for Westminster – that is the choice at this election: Service or self-interest, stability or chaos, a Labour Party that has changed or a Tory Party that has run away from the mainstream.

    The choice is yours. You can stop the chaos, you can turn the page, you can join with us, and together we can rebuild our country.

    Thank you.

  • Rachel Reeves – 2024 Speech to Business Leaders at Rolls Royce

    Rachel Reeves – 2024 Speech to Business Leaders at Rolls Royce

    The speech made by Rachel Reeves, the Shadow Chancellor of the Exchequer, on 28 May 2024.

    Good morning.

    In five weeks’ time, the British people will go to the polls.

    To make a profound choice about the future of our country.

    And where better to think about the future than here at Rolls Royce, in Derby.

    Away from the short-termism of politics, the pessimism of our present moment, here you have the very model of a great British business…

    … a global brand synonymous with excellence…

    … that continues to this day to pioneer in new technologies critical to the challenges of a changing world…

    … from submarine technologies crucial to defence, to the development of carbon neutral aviation at the frontier of the climate transition.

    And a business partnering with homegrown small and medium enterprises throughout its supply chain…

    … which has nurtured deep roots in this city going back more than a century.

    A business built on the foundations of a past in which we can take pride, with a vision of a future that we can invest our hope in.

    **

    As Shadow Chancellor, one of the great privileges of this role has been to travel the country and meet entrepreneurs, innovators and business leaders all across the UK.

    In the most challenging of economic times, they give me immense optimism.

    Today I want to put forward a simple proposition:

    That this changed Labour Party is today the natural party of British business.

    And I want to set out the central economic fault line in this election, the choice before the British people on the fourth of July:

    Five more years of chaos with the Conservative Party, leaving working people worse off;

    Or stability with a changed Labour Party.

    TORY INSTABILITY

    I can tell you exactly what Rishi Sunak wants you to think on polling day.

    He’s already saying it.

    That the plan is working – don’t change course now.

    That the chaos and instability wrought by Liz Truss was just a blip.

    That the deep problems we face are down to global events – they’re not his fault at all.

    ‘Don’t judge 14 years on 49 days’, he will say.

    **

    I want to take that head on.

    Because while it is true that the crises we have faced are global in origin, our unique exposure to those crises…

    … the reasons we have been hit harder than many comparable countries…

    … by the economic impact of covid and then by inflation and rising energy prices…

    … can only be explained by choices made by Conservative governments here at home.

    And because while the Prime Minister want this election to be about whether inflation is coming down this month…

    … he omits to mention when it started to rise:

    On his watch as Chancellor;

    Even before the Conservatives, in their clamour to cut taxes for those at the very top, sent interest rates and mortgage costs spiralling.

    He omits to mention when it peaked too…

    … on his watch as Prime Minister.

    And he omits to mention the families and businesses dealing with the consequences of Conservative economic mismanagement today.

    **

    Like the family I met in Redcar:

    The dad doing an apprenticeship, the mum working in a supermarket…

    … who spend every evening talking about money, because there’s just not enough to pay the bills.

    The small business owner in Milton Keynes…

    … desperate to expand, but faced with a system of business rates that are stacked against her.

    Or just down the road from here, the workers at Alstom, some of whom I met just a few months ago…

    … who are facing the uncertainty that results…

    … when a government is unwilling to take a long-term, strategic approach, in partnership with business and trade unions…

    … the only responsible approach to economic policy.

    The Conservatives are insulting the intelligence of millions of people like these, forced to deal with the consequences of their failure.

    **

    But we won’t let them get away with it.

    Because the Conservatives do deserve to be judged on the record of those fourteen years.

    The general election, in five weeks’ time, is a chance for the British people to pass judgement on fourteen years of economic chaos and decline under the Conservatives.

    Fourteen years that have seen taxes reach a seventy year high.

    National debt more than double.

    And the typical homeowner re-mortgaging this year paying £240 more every single month, after the disastrous mini-budget.

    Wages flat.

    Public services on their knees – taxpayers asked to put more and more in, but getting less and less in return.

    And economic growth on the floor.

    Five Prime Ministers.

    Seven Chancellors.

    Twelve plans for growth, each yielding less than the last.

    To put this into perspective:

    If the UK economy had grown at the average rate of OECD economies under the Tories, it would now be £150 billion larger;

    An additional £5,000 for every household;

    Providing an additional £55 billion more investment in our public services.

    **

    That is their record – and they deserve to be judged on it.

    The Conservatives have failed on the economy.

    The plan isn’t working.

    And Rishi Sunak’s decision to call an early election is the clearest sign of that.

    If he doesn’t believe his plan is working, why should you?

    TAX

    And no matter how much they tell us that Liz Truss was nothing to do with them, their every action tells us otherwise.

    They haven’t learnt their lesson.

    They’re singing from the same songbook.

    With the Prime Minister’s priorities dissolving into thin air, what is his last, desperate throw of the dice?

    Not to deliver on the promises he has made over the last two years.

    But instead, to offer up £64 billion worth of unfunded tax cuts.

    They offered up another one just last night.

    The Conservative cannot say how they’re going to pay for them.

    What cuts will they make to public services?

    What other taxes will they raise?

    Or will they be paid for by yet more borrowing?

    And why should anyone believe them, after – I’ll say it again – the tax burden has reached it’s highest in seventy years?

    Be in no doubt, the single biggest risk to Britain’s economy is five more years of the Conservative Party.

    CHANGED LABOUR

    My ambitions for Britain are so much greater than that.

    I don’t think we need fantasy economics to look and hope for a better future – just look around us.

    But we do need change.

    Under Keir’s leadership, we have changed the Labour Party so that we may have the chance to change our country for the better.

    To offer a government that is pro-worker and pro-business, in the knowledge that each depends upon the success of the other.

    A party that understands business.

    That works with business.

    I’m not one of those politicians who thinks the private sector is a dirty word, or a necessary evil.

    I’ve worked in the private sector.

    Before politics, I worked in financial services in West Yorkshire.

    I know what a successful business can do for places like those.

    And I know that economic growth comes from the success of businesses, large, medium and small – there is no other way.

    I’m not talking about the old trickle down, free market dogmas of the past…

    … but instead, a new spirit of partnership between government and business.

    An approach fit for a more uncertain world.

    I know there is no policy that I can announce…

    … no plan that can be drawn up in Whitehall…

    … that will not be improved from engagement with business.

    And our manifesto will bear the imprint of that engagement.

    I want to lead the most pro-growth, pro-business Treasury in our country has ever seen…

    … with a laser focus on making working people better off.

    Today, more than 120 senior business leaders have signed a letter, expressing their support for a Labour government.

    Across the world of business, Labour is being recognised as the natural partner of business;

    The party of growth and of enterprise.

    **

    A few years ago, you might not have expected to hear those things from the Labour Party.

    Think how far we have come under Keir’s leadership, in four short years.

    If we can change this party, to bring it back to the service of working people;

    If we can return it to the centre ground of politics;

    If we can bring business back to Labour;

    Then I know we can bring business back to Britain.

    To bring investment back to Britain.

    To bring growth back to Britain.

    To bring hope back to Britain.

    Because by bringing business back to Britain, we can deliver a better future for working people.

    Whatever ideologues on left and right say, it’s not either-or:

    This Labour Party understands that business success is crucial to good jobs, and good work is crucial to successful businesses.

    It is by bringing business back to Britain that we can create good jobs that pay a decent wage;

    Bring in investment to build strong communities with thriving high streets;

    Put more money in people’s pockets;

    And take pride in goods and services made here in Britain, but exported around the world.

    LABOUR’S PLAN

    Our plans for growth are built on partnership with business;

    A mission-led government, prepared to take on the big challenges that we face and ready to seize the opportunities of the future.

    And a government that will build all its plans for the future on the bedrock of economic stability.

    It is clearer than ever that at this election, there is a choice between Tory chaos or Labour stability. And stability is change.

    Stability, so that we never again see a repeat of the mini budget and the damage it did to family finances.

    Stability, so that families and business can plan for the future.

    Stability of direction…

    … so we can bring together government, business and working people in common purpose…

    … to meet the great challenges of our time.

    **

    That will be underpinned by robust fiscal rules, that get debt falling by the end of the parliament.

    I will never play fast and loose with the public finances – because when you do so, you put family finances at risk.

    We have started as we mean to go on:

    I have been very clear that every policy we announce, and every line in our manifesto, will be fully costed and fully funded.

    No ifs, no ands, no buts.

    That is the attitude I will take into the Treasury.

    Because taxpayers’ money should be spent with the same care with which we spend our own money.

    **

    I remember how, when I was growing up, my mum used to sit at the kitchen table, combing over, line by line, her bank statements and her receipts.

    We weren’t badly off, but we didn’t have money to spare.

    To my mum, every penny mattered.

    Believe me, I understand – the basic test for whoever is Chancellor is to bring that attitude to the public finances.

    **

    And stability will rest – as it always has done when Britain has enjoyed economic success – on strong institutions.

    I started my career as an economist at the Bank of England.

    I know why the stability it brings and its independence from short term politics matter to economic success and the battle against inflation.

    So Labour will not play – I will not play – the Tory game of undermining the Treasury or the Bank of England;

    And I will introduce a new fiscal lock;

    So that any government making significant and permanent changes to tax and spending…

    … will be subject to a forecast from the independent Office for Budget Responsibility.

    So that there is never a repeat of the mini budget.

    Stability must mean something else too – and I have heard time and time again from business how important this is:

    Certainty in our tax system;

    Which is why we have committed to the publication of a business tax roadmap…

    … covering the duration of the parliament, within the first six months of a Labour government;

    And it is why corporation tax will be capped at its current rate for the duration of the next Parliament.

    That is the lowest rate among G7 economies.

    And  should our competitiveness be under threat, we will act.

    STABILITY

    Stability will be the bedrock of everything we do.

    But stability alone is not enough.

    It is one, central part of what I call securonomics;

    A new approach, which recognises that our age of insecurity requires new answers to new economic challenges.

    So stability must stand alongside a plan to fix our weak levels of investment.

    Britain today is the only G7 country with investment below 20 percent of GDP.

    I am not under the illusion that government can fix this alone – the lifeblood of economic growth is business investment.

    So investment will be delivered through a new partnership between government and business;

    Embodied in a modern industrial strategy;

    And in a new National Wealth Fund…

    … with government investing to crowd in tens of billions of pounds of private investment…

    … to create the jobs of the future, drive down bills, and achieve energy independence.

    **

    And we will need reform too.

    No more ducking the difficult decisions.

    No more shrinking from vested interests.

    No more accepting that this is as good as it gets.

    So we will reform our politics…

    … pushing power out of Westminster so our local and regional leaders can deliver for their areas.

    We will reform our skills system…

    … to give working people the chance to succeed in a changing world of work…

    … replacing the Apprenticeship Levy with a new Growth and Skills Levy.

    We will reform our planning system…

    … taking head on the single biggest obstacle to growth and investment we face, to get Britain building again.

    We will deliver reform for security in work, with a New Deal for Working People.

    And we will forge a closer relationship with our nearest neighbours in the European Union, to ease the burden of bureaucracy and red tape on British businesses;

    Including a new veterinary agreement, an agreement on touring visas, and the mutual recognition of professional qualifications.

    **

    Stability, investment, reform.

    You’re going to hear those three words a lot from me.

    Because they are the ingredients of a genuine plan for the future.

    An alternative to managed decline.

    The reason that I can say today, with confidence, that this Labour Party is the natural party of British business.

    CHANGE

    The choice at the next election is simple:

    Five more years of the vicious cycle of chaos and decline which the Conservatives have set in motion;

    Or a changed Labour Party;

    Putting stability first, in the service of working people.

    **

    We will fight this election on the economy.

    Every day we will expose the damage the Conservatives have done…

    … the further damage they threaten to do.

    And we will set out Labour’s alternative.

    Five missions for a decade of national renewal.

    And six first steps to point the way to a better Britain.

    Cutting NHS waiting times, with 40,000 new appointments every single week;

    Launching a new Border Security Command to smash criminal gangs and strengthen our borders;

    Setting up Great British Energy, a new, publicly owned clean power company;

    Cracking down on antisocial behaviour;

    Recruiting 6,500 new teachers;

    All fully costed, all fully funded;

    All those ambitions built on the bedrock of economic stability.

    The foundation stones for a decade of national renewal.

    **

    To serve as Chancellor of the Exchequer would be the privilege of my life.

    Not to luxuriate in status;

    Not as a staging post in a career;

    But to serve.

    I know the responsibility that will come with that.

    I embrace it.

    I know that it will not be easy.

    It will take hard work.

    And it will require harder choices.

    I am ready for it.

    **

    As I travel around the country, I see great potential everywhere I go.

    In dynamic, great British businesses like this one.

    In labs and classrooms in our world-leading universities.

    And in the talent and effort of working people.

    It is time to unlock that potential.

    Turn the page on chaos and decline.

    And start a new chapter for Britain.

    Labour is ready.

    Thank you.

  • Keir Starmer – 2024 Comments on Jeremy Corbyn Standing at the General Election

    Keir Starmer – 2024 Comments on Jeremy Corbyn Standing at the General Election

    The comments made by Keir Starmer, the Leader of the Opposition, on 24 May 2024.

    I’m very clear, the first thing I said as Labour leader is that I would tear antisemitism out of our party by the roots.

    That was my first solemn promise, and I followed through on that, and that is why I took the decision that Jeremy Corbyn would not stand as a Labour candidate at this election.

    Now what’s happened with Jeremy standing as an independent, that’s a matter for him.

    We will have an excellent Labour candidate in Islington North making the same argument as we will across the country, which is it’s time to end 14 years of chaos and division, it’s time to turn the page and a fresh start and rebuild our country together.

  • PRESS RELEASE : Grooming Gangs Taskforce arrests hundreds in first year [May 2024]

    PRESS RELEASE : Grooming Gangs Taskforce arrests hundreds in first year [May 2024]

    The press release issued by the Home Office on 21 May 2024.

    A dedicated police taskforce set up to bring down grooming gangs has supported police forces in England and Wales to make hundreds of arrests in its first year.

    In the last 12 months the crack team of expert investigators and analysts has helped police forces arrest over 550 suspects, identify and protect over 4,000 victims, and build up robust cases to get justice for these appalling crimes.

    Established by Prime Minister Rishi Sunak in April 2023, the Grooming Gangs Taskforce of specialist officers has worked with all 43 police forces in England and Wales to support child sexual exploitation and grooming investigations.

    Led by the National Police Chiefs’ Council and supported by the National Crime Agency, the taskforce is a full time, operational police unit funded by the Home Office to improve how the police investigate grooming gangs and identify and protect children from abuse. It is staffed by experienced and qualified officers and data analysts who have long-term, practical on-the-ground experience of undertaking investigations into grooming gangs.

    Home Secretary, James Cleverly said:

    Where a child is being abused, we must do everything in our power to protect them and pursue the perpetrators until they are behind bars.

    This despicable crime can have a lasting impact on a child’s life and I am pleased that in only a year, the taskforce’s hard work alongside local policing efforts has led to more than 550 arrests and helped keep thousands more children safe. I thank everyone that has been involved in this effort.

    But we know we must do more. Through our Criminal Justice Bill we are better protecting children by requiring all professionals to report to police where they fear abuse is taking place and banning sex offenders from changing their names to evade justice.

    Yesterday (Monday 20 May), the Home Secretary, James Cleverly, visited Essex Police where he spoke to the force’s Child Sexual Exploitation teams who have seen their investigations supported by the taskforce in the last year.

    More than 400 officers across the country have now been specially trained by the taskforce, with more set to be mobilised over the coming months to root out child sex offenders. At his visit to Essex Police, the Home Secretary was able to witness first-hand a live training session of new recruits being upskilled in the specialist skills needed to work on child sexual abuse cases.

    Minister for Victims and Safeguarding, Laura Farris said:

    I am proud that the measures announced by this government just over a year ago to clamp down on crimes perpetrated by grooming gangs has led to hundreds of arrests, and the protection of over 4,000 victims.

    We must continue to do more to support the police, placing technology and specialist training at the heart of our rigorous targeting of abusers who prey on vulnerable young people in the most appalling way. They must be brought to justice and face the full force of the law.

    Crucial to the taskforce’s work has been the development of the Complex and Organised Child Abuse Database, which provides forces with a more robust data picture of the scale, risk, prevalence and characteristics of group-based child sexual exploitation than ever before, helping forces to deploy their resources locally in the most targeted way, and investigate without fear or favour around misplaced cultural sensitivities.

    The taskforce has built strong engagement with an expert Crown Prosecution Service team to build robust prosecution cases to put more criminals behind bars. It provides intelligence for forces to help identify and disrupt grooming gang networks by collaborating with the Tackling Organised Exploitation Programme (TOEX) which provides cutting-edge data and analysis to help forces identify suspects.

    The taskforce has also forged strong partnerships with hotels to raise awareness of the early warning signs of child sexual exploitation through Operation Makesafe.

    Ian Critchley, NPCC National Police Lead for Child Protection and Abuse said:

    Since the taskforce was launched, significant strides have been made to enhance the policing response to CSE investigation as well as co-ordinate best practice and guidance to further protect victims and disrupt perpetrators, through working closely with forces such as Essex .

    Sadly, we know that CSE in many forms is still prevalent in our communities. The way we listen to, and support victims and survivors of these most abhorrent crimes is key to building on and maintaining the progress we have already made through the work of the CSE taskforce and dedicated force teams.

    I hope this assures victims that when they take what is often a difficult decision to report to police, that they will be treated with empathy and respect and with the utmost professionalism . We are committed and dedicated to bringing more offenders to justice for these appalling crimes , wherever and whenever they have been committed and the taskforce are supporting force operations across the country.

    While it is important to acknowledge how far we have come, particularly in the last 12 months, it is essential we continue to learn and make changes to help inform and influence all our work, in particular working alongside children’s services and valued third sector partners in encompassing the voice of victims and survivors in all we do.

    We are not standing still. It is incumbent on us all in society and different communities to prevent these offences that have a lifelong impact on victims . We remain dedicated to ensuring we identify, protect and support victims and are committed to the relentless pursuit of offenders to bring them to justice.

    Gabrielle Shaw, Chief Executive for the National Association for People Abused in Childhood (NAPAC) said:

    At NAPAC, we are proud of the work we and other third sector colleagues have been doing in integrating the voices and experiences of victims and survivors into the CSE taskforce.

    By listening to and acting on this, national policing will create authentic, practical change that improves victims and survivors’ engagement with the justice system.

    The CSE taskforce’s work is informed by NAPAC’s unique body of research on what victims and survivors themselves want. This research shows that for a large proportion of survivors, a positive outcome does not necessarily equate to a criminal conviction. Many want to feel heard and believed, to stand up and be counted without entering the court process and without fearing judgement or re-traumatisation.

    We look forward to police forces across the country continuing their positive work with partners, such as third sector organisations, to successfully understand and achieve the outcomes that victims and survivors wish for.

    These measures demonstrate the government’s ongoing commitment to delivering on the recommendations of the Independent Inquiry into Child Sexual Abuse (IICSA) report to protect children from harm, and make sure authorities never again turn a blind eye to child sexual exploitation and abuse.

    The Home Secretary is introducing a new legal requirement, through the government’s flagship Criminal Justice Bill, for anyone engaging in relevant activity with children in England, including teachers and healthcare professionals, to mandatorily report if they know a child is being sexual abused. Anyone who attempts to prevent a mandatory reporter from reporting known child sexual abuse could face prosecution and up to seven years in prison.

    The Home Office has also provided £1.6m in funding for the NSPCC’s whistleblowing helpline, as well as their public helpline, giving professionals and members of the public help to raise concerns about children in their community. In the last year, the whistleblowing and public helplines have handled nearly 76,000 contact points with over 40,000 referrals made to partner agencies, including police and social services.

    In addition, the police are gaining greater powers to stop registered sex offenders from changing their name if they think they still pose a risk to their communities, strengthening measures to ensure parents and carers have the information they need to keep children safe from offenders, and making sure that members of grooming gangs face the toughest possible sentences for their crimes by introducing legislation through the Criminal Justice Bill to create a statutory aggravating factor for grooming behaviour.

    We recognise the devastating impacts that child sexual exploitation and abuse can have on victims and survivors, and are committed to ensuring that specialist support is provided to help all victims and survivors rebuild and move forward with their lives.

    Our Support for Victims and Survivors of Child Sexual Abuse (SVSCSA) Fund (2022-2025) provides grant funding of up to £4.5m to voluntary sector organisations in England and Wales, giving nationally accessible support to victims and survivors of child sexual abuse.

    The Ministry of Justice is also quadrupling funding for victim and witness support services by 2025, up from £41 million in 2010.

  • Bim Afolami – 2024 Speech at the CityWeek Conference

    Bim Afolami – 2024 Speech at the CityWeek Conference

    The speech made by Bim Afolami, the Economic Secretary to the Treasury, on 20 May 2024.

    Good morning, everyone.  Thank you to William/New Financial for the invitation.

    Over the last 3 years, this government has embarked on the most comprehensive set of reforms to financial services in a generation.

    These could not have been more timely. Because in that time, our world has changed almost beyond recognition. A global pandemic. War in Europe. And, as a result, a cost-of-living crisis.

    We have risen to these challenges. That’s why inflation is now falling, wages are rising, and the IMF has forecast that we will grow faster than any G7 European economy over the next six years.

    But through all the changes – and difficulties – of recent years, one thing has remained constant – the UK’s pre-eminence as a global financial centre – with London at the heart of its success.

    In periods of rapid change, you risk becoming extinct unless you can adapt and evolve accordingly.

    I’m a student of history.  So, believe me when I say that we have been here before.

    Breton-Woods, the Big-Bang, and now Brexit. These were all responses to profound economic, political and historical shifts.

    And rightly so. Because in those moments, unless you adapt and evolve accordingly, you will become extinct.

    Today, we find ourselves at another of these moments. As the Prime Minister himself noted last week, more will change in the next five years, than in the last thirty.

    That transformation carries potential for both risks and rewards.

    And it is why for the UK’s financial services sector, everything has had to change for our success to be maintained. And the political, legal, and economic sovereignty that we have gained since 2016 allows us to do so.

    It meant we could roll out a national Covid vaccination scheme faster than any other country in Europe. It allowed us to be amongst the first to help Ukraine defend herself. And – working hand in hand with industry – we are successfully delivering a new model for the UK’s FS sector.

    Now as I mentioned in a speech I gave to the think tank Bright Blue last week, this model has three key elements. First, it is open to the world. Secondly it embraces the opportunities of tomorrow. And finally, it is firmly at the heart of a modern, dynamic UK economy.

    Capital Markets

    This philosophy has underpinned our reform of capital markets. The UK already has some of the oldest and deepest capital markets in the world – and today, we are Europe’s leading hub for investment.

    The government is committed to building on those strong foundations. That’s why almost four years ago, our Prime Minister – at that point, our Chancellor – set out his vision of a technologically advanced, open, sustainable, and competitive financial services sector.

    But promises alone are not enough. You have to deliver. And my promise to you I that I will continue to do so as long as I am in this post.

    That’s why we are completely rewriting the UK’s Prospectus regime to make it easier for companies to list and raise capital on UK markets. This will increase the pool of investors with a stake in UK markets and allow firms to more easily raise larger sums of capital to invest in their growth.

    Alongside this, the FCA are rewriting our listing rules for a new generation. This will bring our regulatory regime in line with international counterparts and provide greater flexibility to firms and founders when raising capital.

    I’d like to thank Lord Hill and Mark Austin in particular for their support of this reform agenda.

    But in particular, I am extremely excited that we are establishing a world-first new class of market, the Private Intermittent Securities and Capital Exchange System PISCES.

    1. This will give private companies better access to UK capital markets and create regulatory coherence between public and private markets.
    2. Here is what it means for the UK’s approach.

    That we are on the front-foot.  That we have lent into the structural shift to private markets. That we evolve in response to circumstance and allow ourselves to take risks in doing so.

    Because as I said in my “capital markets renaissance” speech at Bloomberg earlier this year – there’s no point having the safest graveyard.

    Pensions Reforms

    Achieving that capital markets renaissance requires rediscovering the productive potential of UK pension funds.

    The numbers are sobering. UK pension fund holdings in UK listed equities have fallen – from 53% in 1997 to around just 6%. They invest even less in unlisted equity, especially in comparison to international peers like Australia. Friends, that’s not good enough.

    But I know the rewards of changing those numbers are clear. Improved saver returns and improve economic growth. Billions of pounds of investment for high-growth companies. And thriving capital markets.

    That why we are building on the Chancellor’s package from Mansion House 2023, which will unlock up to £75 billion of financing for growth by 2030.

    To do so we are undertaking three workstreams. First, we will further consolidate the pensions market.

    Secondly, we will ensure our regulatory framework rewards investment for long term returns rather than high costs.

    And finally, we will ensure that pension funds have access to high-growth assets – including in the science and tech sectors – via the ‘LIFTS’ initiative. We announced the winners of this initiative at Spring Budget 2024.

    Partnerships

    Of course, just as our economic sovereignty has allowed us to chart a new domestic approach for UK capital markets, we have also used it to renew our international partnerships.

    We are clear about what the UK can achieve on the global stage. That’s why the Foreign Commonwealth and Development Office’s 2023 refresh of our foreign policy approach – against a background of profound geopolitical shifts – highlighted financial services as a key competitive advantage of the UK economy, and a tool of statecraft that we can use to align the international order with our values.

    You might think that’s somewhat academic. I know from my work with the City that you are practically minded people, who want to understand the impact of our decisions.

    So allow me to set out what we have achieved with key international partners.

    Gulf States

    Take the Gulf, whose jurisdictions are fast emerging as key capital markets partners for innovative financial services.

    We echo that positive approach to a changing industry. That’s why in 2023 we agreed with the Kingdom of Saudi Arabia to collaborate on financial services, including capital markets – which will harness that dynamism to maximise the full potential of UK sourced capital and finance in the Kingdom.

    The EU

    Of course, although we’ve been busy making new friends halfway across the world, the UK still needs to be a good neighbour.

    The UK and EU’s financial markets remain deeply interconnected – in 2023 the EU was 35% of our financial services trade – our largest trading partner, and it’s right that in the current global climate, they remain so.

    Although our regimes will of course evolve differently over time, I know that we are aligned on our principles: open markets, supported by high global standards. I am confident in saying that, under my watch, the EU will never have cause for concern about regulatory standards in the UK.

    Our UK-EU regulatory forum is an important vehicle to facilitate access between our capital markets. At the inaugural event last year, we shared best practice on our work – including our innovative T+1 settlement.

    China

    Finally, it is crucial that we continue to engage with our strategic competitors – such as China. Although – as with any bilateral relationship – we won’t always agree on everything, you simply cannot give the cold shoulder to an economy that is home to a fifth of the world’s globally systemically important banks, four of the world’s largest banks, and almost a third of the world’s leading global financial centres.

    It is in our interests to engage where we can – profoundly so – it makes good economic sense, and it also means we can continue to tackle shared global challenges such as climate change, biodiversity loss and ageing societies.

    Where China is concerned, we must take the long view.

    Of course, we should only engage where it is consistent with our interests. But be in no doubt – that is absolutely not the same as disengagement. If we hesitate too much – as Lord Cameron himself noted two weeks ago – our competitors will write our future for us.

    I echo that view – and it underlines why we must continue to engage with China on financial services.

    That’s why I took the opportunity to speak at the China – Britain Business Forum in March this year, where I set out how financial services sits at the heart of many of the shared challenges we face, and how working together we can resolve them with outcomes that benefit us all.

    Conclusion

    But I have spoken enough for today. And so I will leave you with this.

    What you have seen from this government – both at home and abroad – has been nothing less than an ambitious parliament of delivery.

    We have drawn on our long history of expertise in financial services to meet today’s challenges. We are rebuilding our framework from the bottom up – and nowhere better encapsulates that than our capital markets reforms.

    But why is financial services so critical? Because it lies at the heart of the real economy, and the challenges our society faces.

    It’s not just numbers on a spreadsheet, or bankers getting richer. Because products like mortgages, loans, investment – mean homeownership, small businesses and education.

    People sometimes like to talk about the social contract between government and society. That if you are willing to work hard, and operate within the rules, then you will thrive.

    Well, financial services underwrite that contract. A contract which requires industry, regulators and government to work together – to deliver a sector, and a future, that will benefit families and businesses up and down the country.

    Now let’s get out there and deliver.

    Thank you.

  • Rishi Sunak – 2024 Comments in Austria

    Rishi Sunak – 2024 Comments in Austria

    The comments made by Rishi Sunak, the Prime Minister, in Austria on 21 May 2024.

    Chancellor Nehammer, Karl. it’s so wonderful to be here in Austria, especially after our very warm meeting we had together last year where, as you say, we built a very strong friendship and a partnership.

    And it has been good to continue that dialogue with you this morning.

    And Austria is an important partner and an important friend for the United Kingdom.

    Last year we signed new bilateral agreements…

    …to build that partnership, to strengthen our security and to tackle illegal migration.

    We grew our bilateral trade to £10 billion last year.

    And today we’ve taken steps to deepen that relationship even further.

    Now as Karl mentioned we see eye-to-eye on many of the big challenges before us.

    And we’re committed to addressing them together.

    We’re unwavering in our support for Ukraine.

    Austria has rightly called out Russia for breaking international law…

    …expelled Russian diplomats…

    …and given vital humanitarian support to the Ukrainian people.

    And now, we’ve discussed what more we can do together on the economic front to ensure that Russia’s war machine is not supported.

    Now we’ve also discussed, as you heard, the Middle East…

    …where we’ve been working closely together already to urgently get the aid in and get the hostages out.

    We touched on our concerns in the Western Balkans, Bosnia and Herzegovina…

    …and the work that both our nations are doing to preserve stability in the region.

    And again, I very much welcome Austria’s leadership in this area and I’m grateful to all the engagement that Karl has put into that part of our continent.

    And of course, in conclusion, we discussed illegal migration.

    This has become truly one of the defining issues of our time.

    We face criminal gangs that are growing in strength across our European continent and beyond, and they’re exacting a terrible human toll.

    People are losing their lives as they are exploited by these criminal gangs.

    And it is of course a threat to our stability, to the rule of law – and rightly our citizens are demanding that their leaders, their politicians, tackle it.

    And that’s what both Karl and I are doing.

    And I really do want to congratulate Karl on his leadership here because he’s been right on this issue for a long time, and has led the charge in Europe, in making sure this is a topic that gets the attention that it deserves.

    In our joint statement today we have committed to deepening our cooperation to end this vile trade.

    And what both of us have agreed is that business as usual won’t solve this problem.

    We have to think creatively…

    We have to pursue new ideas, solutions, and deterrents – removals to safe third countries – like the UK’s pioneering Rwanda scheme.

    And as Karl said, it’s increasingly clear that many other countries now agree that that is the approach that is required: bold, novel, looking at safe country partnerships.

    Karl was right on that a while ago and I’m delighted that now 15 European countries together have joined in supporting that position.

    So we will keep increasing our shared ambition and urgency, bringing others along with us on the journey as we have…

    …including when we meet at the European Political Community, which I am proud to be hosting in Blenheim Palace in July.

    That will be a moment to take further action on all of the issues we’ve been discussing today.

    And I’ll close on this last point.

    As you know, there is an interesting echo of history here.

    Because Blenheim Palace is named after the Battle of Blenheim in 1704…

    …when Britain and Austria came together under the Grand Alliance to protect Vienna.

    Now, the circumstances are somewhat different today…

    …but it is a reminder that our relationship, our friendship, our partnership, has deep roots.

    And today’s discussions show that it also has a very bright future.

    Karl, thank you very much.

  • PRESS RELEASE : Joint Statement between UK and Austria [May 2024]

    PRESS RELEASE : Joint Statement between UK and Austria [May 2024]

    The press release issued by the Foreign Office on 21 May 2024.

    Today [Tuesday 21 May] Prime Minister Rishi Sunak spoke to his counterpart Chancellor Karl Nehammer in Austria on tackling illegal migration.

    The leaders agreed that it must be the governments deciding who enters our countries, not criminal gangs, and stronger action must be taken to end the vile people smuggling trade.

    The leaders committed to implementing stronger frameworks to deal with migration, and that new innovative solutions are crucial to this end.

    The leaders agreed that working with designated safe third countries are part of the solution for best protecting Europe from irregular migratory pressures and preventing people from making illegal, dangerous journeys – such as the Rwanda style model.

    In that respect, the Leaders agreed that States may develop and implement solutions to securing their borders and dealing with challenges like migration, while maintaining full compatibility with international law. They welcomed the new procedures relating to Rule 39 interim measures adopted by the European Court of Human Rights, following consultations with State parties. As already noted in the Izmir Declaration in 2011, it is essential, when examining cases related to asylum and immigration, to assess and take full account of the effectiveness of domestic procedures and, where these procedures are seen to operate fairly and with respect for human rights, that the Court should avoid intervening except in the most exceptional circumstances.

    The leaders are acutely aware of dangers of the efforts other actors will take in instrumentalising migrants to destabilise Europe and agreed more needed to be done to secure our borders and strengthen our security.

    Both think the answers lay with deeper partnerships with others, and increasing cooperation with countries involved in all stages of the migrant journey was essential to tackling this growing pan-European challenge.

  • PRESS RELEASE : Government secures future of UK Youth Parliament [May 2024]

    PRESS RELEASE : Government secures future of UK Youth Parliament [May 2024]

    The press release issued by the Department for Culture, Media and Sport on 21 May 2024.

    Government appoints the National Youth Agency as the new body to run the UK Youth Parliament (UKYP) for 2024/25.

    • Young people will continue to have a say as the future of the UK Youth Parliament is secured
    • National Youth Agency to take over UK Youth Parliament grant following closure of British Youth Council
    • Funded by the Government, the UKYP will support hundreds of young people to represent the views of their peers

    Young people across the UK will continue to have their say on the issues that matter most to them, following the announcement that the Government has appointed the National Youth Agency (NYA) as the new body to run the UK Youth Parliament (UKYP) for 2024/25.

    Established 25 years ago, the UKYP is made up of more than 300 young people aged between 11 and 18 years, elected as Members of Youth Parliament (MYPs) to represent the views of their peers. Young people vote for their MYPs in elections every two years, which are held in over 70% of constituencies, and often in schools.

    It has given thousands of young people opportunities to bring about social change through meaningful representation and campaigning on vital issues, ranging from climate change to mental health. Members meet regularly, including through an annual debate in the House of Commons.

    Elected members also lobby the UK Parliament to take action on the subjects that matter most to those they represent. In 2023, the UKYP launched its campaign for Universal Free School Meals. The campaign was then used as the basis for the UKYP House of Commons sitting in 2023, where young people debated five key topics under the topic of Free School Meals.

    Since 2011, the Government has funded the British Youth Council to deliver the UKYP programme. Following its closure in March 2024, the Government has worked rapidly to secure the future of UKYP, ensuring young people can continue to participate in the programme.

    Minister for Civil Society and Youth, Stuart Andrew, said:

    The Youth Parliament is a vitally important way for young people to become politically engaged and have their say on the issues that matter to them. It has also proven to have a positive impact in developing their confidence and leadership skills.

    By securing the future of the Youth Parliament for the coming year, we are underlining how the Government is absolutely committed to creating opportunities for young people’s voices to be heard as voters and politicians of the future.

    The NYA is a charity that works in partnership with organisations to support and improve services for young people, with a particular focus on youth work. They offer guidance, support, advice and staff development opportunities for youth workers and youth work organisations.

    The NYA will work with existing delivery partners, the regional youth work units in England, the Scottish Youth Parliament, Children in Wales, and consultants in Northern Ireland, to run the UKYP for 2024/25.

    Leigh Middleton, Chief Executive of the National Youth Agency said:

    Ensuring that young people have a voice on the issues that matter to them and being able to influence decision makers is a fundamental principle of youth work. We have moved swiftly to ensure that the necessary platforms are in place so that the Members of the UK Youth Parliament (MYPS) can meet throughout the year, alongside the support provided by local authorities and regional youth work units.

    Through the Make Your Mark survey and other activities undertaken regionally, the MYPs will continue to make a valuable contribution towards political debate on youth matters, whilst developing their skills and confidence in the process.

    Ellie Bealing MYP, Member of Youth Parliament for Somerset 2022 – Present said:

    The National Youth Agency’s appointment secures youth voice across the UK, at a time in which its need is great. As MYPs, our work can continue with the knowledge of national recognition and the opportunity to unite as committed young people. Youth Parliament has proven that it is vital to allow our generation to speak of the issues that motivate us, empowering others and gaining the attention of changemakers.

    Haydn Cutler MYP, Member of Youth Parliament for Kent 2022 – Present said:

    It is great to hear that the important work of UKYP will continue, with our organisation essential in the continuance of youth voice within UK politics, and I know the NYA will continue to enable this. From the discussions I’ve had, it is clear today’s announcement will bring relief to many fellow MYPs, and I would like to give my thanks to all who worked tirelessly for this outcome.

    Jamie Burrell, UK Youth Parliament Steering Group said:

    Since BYC announced their closure, the Steering Group, the programme’s young leaders, have been working to ensure that Members of Youth Parliament will be able to take up their roles and make a difference in their communities and beyond. I’m delighted that the National Youth Agency will deliver that this year and I’m committed to working with all stakeholders to ensure a sustainable long-term future for the UK Youth Parliament.

    Funding for the UK Youth Parliament programme builds on the Government’s commitment to providing every young person with the opportunity to have the best start in life and to maximise their potential.

    In 2022, the Government announced its ‘National Youth Guarantee’, that every young person aged 11 to 18 years old in England will have access to regular clubs and activities, adventures away from home, and volunteering opportunities by 2025, backed by an investment of more than £500 million.

    As part of this, the Government has allocated £12 million to the #iwill Fund, which enables more young people to take part in social action via activities such as volunteering and fundraising. Funding has created over 60,000 opportunities for young people to get involved.

    Notes to editors:

    • The Government will announce further details on future suppliers in due course.

    About the National Youth Agency

    The National Youth Agency (NYA) is passionate about the right of every young person to be able to access the personal, social, and educational development opportunities provided by youth work.

    As the professional, statutory and regulatory body for youth work and youth services in England, it sets the occupational standards for youth work and offers accreditation for professional development, as well as access to training and CPD through its online Academy. Its Youth Work Practice Standards and Safeguarding Standards provide those delivering or commissioning youth work with a framework for youth work to ensure it is responsive to need, is being delivered by suitably qualified staff and is safe. Its National Curriculum for Youth Work sets out the educational framework for youth work.

    The NYA has extensive experience of managing large complex projects and partnerships including bursary funding for youth work qualifications on behalf of the Department of Culture, Media and Sport and the successful NatWest Thrive programme. Its annual National Youth Sector Census aims to create an accurate baseline of youth sector provision to help inform policy making, commissioning and funding for youth work.

    For further information contact Kate Dawson, Head of Communications on kated@nya.org.uk or visit https://www.nya.org.uk

  • PRESS RELEASE : British AI pioneers share £1 million in prizes as government unveils inaugural Manchester Prize finalists [May 2024]

    PRESS RELEASE : British AI pioneers share £1 million in prizes as government unveils inaugural Manchester Prize finalists [May 2024]

    The press release issued by the Department for Science, Innovation and Technology on 21 May 2024.

    Ten teams from across the country have been chosen as finalists of the inaugural Manchester Prize.

    • Ten teams driving forward the next AI innovations in energy and the environment awarded £100,000 each to develop their solutions
    • the multi-year challenge prize is rewarding UK-led breakthroughs in artificial intelligence for public good as the global AI community gathers for the AI Seoul Summit
    • one of the finalists will go on to win the £1 million grand prize next spring

    Ten teams across the country have been chosen as finalists of the inaugural Manchester Prize, a prestigious challenge prize rewarding breakthroughs in AI for public good.

    Announced by the Prime Minister as the AI Seoul Summit gets underway today (Tuesday 21 May), the finalists will each receive a share of £1 million to develop their solutions over the next eight months.

    Focusing on energy, environment, and infrastructure in its inaugural year, teams in the running for the final £1 million prize are working on breakthroughs in artificial intelligence which could help address food security, improve how solar energy flows into the electricity grid, and revolutionise battery manufacturing.

    Chancellor of the Exchequer Jeremy Hunt said:

    With over 50,000 people already employed in the sector and billions expected to be generated for the UK economy over the next few years, the potential of AI innovation to help power our growth is huge.

    That’s why this funding is one of the best investments we can make.

    Viscount Camrose, Minister for AI and Intellectual Property said:

    This prize puts brilliant British AI innovation at the heart of addressing some of our biggest shared challenges. A decade-long commitment by the government, we are supporting our peerless AI talent with an annual £1 million grand prize to bring through the next wave of game-changing technological solutions.

    I look forward to seeing our finalists develop their solutions further over the coming months, as we look to harness the incredible potential of AI to bring about transformative change in the fields of energy, the environment, and infrastructure.

    Among the finalists of the Manchester Prize are:

    • Quartz Solar AI Nowcasting by Open Climate Fix: Leveraging AI to forecast cloud formation, enhancing the integration of solar energy into the electricity grid.
    • CRE.AI.TIVE by Phytoform Labs: Addressing food security challenges through AI-driven discovery of crop traits resilient to climate change.
    • Greyparrot Insight by Greyparrot.ai: Employing AI waste analytics to map global waste flows, driving improvements in recycling and packaging design.
    • Polaron by Polaron: Revolutionizing battery manufacturing through AI-driven analysis of advanced materials.

    In its inaugural year, the Manchester Prize called upon the ingenuity of innovators, academics, entrepreneurs, and disruptors to submit their solutions utilising AI for public benefit. The prize garnered nearly 300 entries from UK-led teams, showcasing a diverse array of groundbreaking ideas.

    The finalists will each receive prizes of £100,000 to further develop their projects over the next eight months. Additionally, they will benefit from comprehensive support packages, including funding for computing resources, investor readiness support, and access to a network of experts, positioning them for success in the pursuit of the £1 million grand prize in spring 2025.

    The potential of AI-powered innovation to fuel economic growth is immense, with estimates suggesting it could generate £400 billion for the UK economy by 2030. Already, over 50,000 individuals are employed in the AI sector, and with projected market growth exceeding 15% in the next six years, there are vast opportunities for new businesses to thrive and contribute to the nation’s prosperity.

    The UK is already seeing the results of how AI can drive investment in its economy, with the recent announcement that British AI company Wayve has received a $1.05 billion investment to develop the next generation of AI-powered self-driving vehicles.

    Dr Hayaatun Sillem CBECEO of the Royal Academy of Engineering and Manchester Prize judge said:

    British innovators have been pivotal to the advancement of computer and information technology that has transformed the world we live in. AI has the potential to support productivity, improve delivery of public services, make our national infrastructure work better, and accelerate the transition to a net zero economy. Choosing only ten finalists from such a diverse field of applications was tough; picking a winner will be even harder. I’m looking forward to seeing how the ideas develop in the next few months.

    With AI already starting to unlock enormous opportunities in tackling climate change, transforming healthcare, and beyond, the Manchester Prize looks to spark more cutting-edge innovations in using AI for good, which will deliver real change for people across the country.

    The UK is committed to fostering innovation and harnessing the transformative power of AI for the betterment of society. As these projects continue to evolve and make strides towards tangible impacts, they serve as testament to the UK’s position at the forefront of AI innovation on the global stage.

    To find out more about the Manchester Prize and follow the progress of all ten finalists, visit manchesterprize.org.

    Notes to editors

    Full list of Manchester Prize finalists

    Aiolus (by the University of Warwick)

    The UK aims to have 50GW of wind energy capacity by 2030 – however digital and control technologies have not kept pace to maximise the operational efficiency of wind farms. Aiolus leverages AI and creates digital twins to enhance wind farm operations and predict maintenance needs, boosting energy capacity, lowering the average cost of electricity for people and accelerating the UK towards its Net Zero target. Aiolus projects a 10-20% increase in power production, and a 3-5% rise in annual energy output.

    AssetScan

    Using AI to find and track defects in infrastructure and large buildings (by CC Informatics) – AssetScan by CC Informatics is an AI system which aims to identify defects in buildings and infrastructure assets from large photographic datasets, such as those collected by uncrewed aerial vehicles (drones), using an image-to-image processing technique. Manual review of these large datasets would be expensive and time consuming. AssetScan automatically detects changes in structure condition to target effective maintenance at the earliest opportunity.

    CRE.AI.TIVE (by Phytoform Labs)

    With the impacts of climate change threatening global food security, Phytoform Labs uses its proprietary CRE.AI.TIVE platform to discover drought tolerant, disease resistant and yield boosting traits for a diverse variety of crops. CRE.AI.TIVE is a ‘foundational genomics model’, that learns about the genome of plants and accelerates the search for useful mutations to increase the resilience of crops.

    EvoPhase Explore (by Evophase)

    EvoPhase Explore, is an innovative AI-driven solution designed to optimise the design and operation of industrial equipment. It leverages evolutionary algorithms to reduce energy consumption, minimise waste, and enhance overall efficiency in manufacturing processes. HARPPP (Highly-Automated Rapid Prototyping for Particulate Processing) is the proprietary AI technology behind EvoPhase Explore, employing evolutionary algorithms and four-dimensional modelling to optimise equipment designs and processing conditions. Allowing for scalability through new equipment design and retrofitting existing equipment for enhanced performance.

    gAIn Water (by UKCRIC)

    gAIn Water leverages advanced predictive AI technologies to integrate real-time sensor data from the UK’s water network with environmental and demographic inputs, including weather, soil conditions, pipe integrity, and population trends. This facilitates precise water demand forecasts, timely alerts for system failures, and identification of potential supply shortages. The system dynamically optimises water flow and maintenance schedules to significantly reduce leaks and lower energy consumption, offering measurable benefits to water utilities, governing bodies, and communities across the UK.

    Greyparrot Insight (by Greyparrot.ai)

    The Greyparrot AI waste analytics system “sees’’ and tracks every piece of waste entering a sorting or recycling plant via monitoring units positioned over conveyor belts. The AI identifies seven layers of detail about each waste item – including the material type, brand and carbon footprint based on its end of life – and does this faster, more accurately, and around 250 times cheaper than manual alternatives. It aims to create a complete digital map of the world’s waste flows to track what happens when waste is discarded and support the value chain to improve packaging design, policy making and recycling rates.

    Polaron

    Accelerating the design of advanced materials with generative AI (by Polaron) – Developing advanced materials is a traditionally slow and inefficient process. Polaron uses AI algorithms to rapidly analyse potential material designs and identify the best manufacturing processes to maximise performance. Applied to battery electrodes, Polaron’s technology can yield a 10% increase in power, while reducing the cost by more than 50%, revolutionising battery manufacturing and unlocking the next-generation of materials.

    Quartz Solar AI Nowcasting (by Open Climate Fix)

    Due to cloud cover, solar power generation can be unpredictable. This entry uses AI to forecast cloud formation hours ahead of time, allowing solar energy to be more efficiently integrated into the electricity grid through better prediction of periods of intermittent supply. By leveraging satellite imagery and live solar generation data, it helps better manage solar energy resources and balance a renewables heavy grid. This more efficient approach to renewable energy management can help the UK to decarbonise faster.

    Sapphire

    Improving river and bathing water quality (by HR Wallingford) – Increasing urbanisation and changes to rainfall patterns due to climate change are putting greater pressure on the UK’s wastewater network, impacting water quality in our rivers. Sapphire, created by HR Wallingford, will be an AI tool to help reduce water pollution from storm overflows, agriculture, and urban spaces. It will integrate observed data and computer model outputs into an AI platform, incorporating more sources of pollution, and producing faster results than traditional methods. It aims to enable water companies to better understand the impact of storm overflows and manage flows more effectively, ultimately resulting in better water quality across the nation.

    TraffEase (by Transhumanity)

    Cities generate vast amounts of transport and urban mobility data, but too often its complexity means little is done with it. TraffEase AI integrates this multi-source data to provide predictive traffic analytics to inform decision making for efficient and green mobility. The platform supports intuitive natural language queries, making it accessible for non-experts. This empowers city authorities to effectively manage transport to enhance the journey experience for the public.

    About the Manchester Prize

    The Manchester Prize is a multi-million-pound challenge prize from the UK’s Department for Science, Innovation and Technology (DSIT) that rewards UK-led breakthroughs in artificial intelligence for public good. Every year for a decade, it will reward innovations that will help to transform the lives of the people across the UK and continue to secure the UK’s place as a global leader in cutting edge innovation.

    The Manchester Prize delivered by Challenge Works, a global leader in designing and delivering high-impact challenge prizes that incentivise cutting-edge innovation for social good – part of UK innovation foundation Nesta. Visit: manchesterprize.org.