Tag: 2026

  • PRESS RELEASE : Address by the Deputy Prime Minister for Reintegration of the Republic of Moldova – UK statement to the OSCE [May 2026]

    PRESS RELEASE : Address by the Deputy Prime Minister for Reintegration of the Republic of Moldova – UK statement to the OSCE [May 2026]

    The press release issued by the Foreign Office on 24 May 2026.

    The UK thanks Deputy Prime Minister Chiveri for his remarks to the Permanent Council, welcomes the resumption of in person 1+1 meetings between Chief Negotiators, and encourages Chisinau and Tiraspol to build on this renewed momentum.

    Thank you, Mr Chair. Deputy Prime Minister Chiveri, welcome to the Permanent Council, and thank you for your remarks this morning.

    The United Kingdom remains a steadfast and consistent supporter of Moldova’s path towards European integration. We were pleased to host the fifth session of the UK-Moldova Strategic Dialogue in London last month. We commend the sustained progress your government has made on democratic reform, the rule of law, and the protection of fundamental rights. The United Kingdom also recognises Moldova’s significant contribution to regional security, including in support of Ukraine’s security.

    Deputy Prime Minister, the UK welcomes the resumption of in‑person 1+1 meetings between Chief Negotiators in February and April. These meetings mark an important step forward and underscore the value of sustained, direct dialogue in unlocking meaningful progress. We are grateful to the OSCE Mission to Moldova for facilitating and moderating these meetings. We also welcome the increased activity of the Working Groups, which provide an important channel for addressing issues that affect people’s daily lives.

    The United Kingdom encourages Chisinau and Tiraspol to continue engaging constructively and in good faith across all established formats, and to build on this renewed momentum.

    The United Kingdom recognises and strongly supports the vital work of OSCE Mission to Moldova on reintegration, including through the Mission’s support to implementation of measures agreed under the Berlin‑plus package, delivering tangible benefits for communities on both banks of the river Nistru. Practical cooperation on issues such as education, vehicle registration, and access to land remains essential to building confidence and trust over time.

    The United Kingdom reiterates our longstanding concern over the continued presence of Russian military forces in Transnistria, which is incompatible with Moldova’s sovereignty and territorial integrity. We underline the importance of the full and unconditional withdrawal of these forces and associated ammunition stockpiles, in line with international commitments.

    Deputy Prime Minister, the United Kingdom stands ready to support further efforts towards achieving comprehensive, peaceful, and sustainable settlement that fully respects the sovereignty and territorial integrity of the Republic of Moldova, within its internationally recognised borders. We will remain a committed partner to Moldova as you continue to advance democratic reforms and pursue your European future.

    Thank you, Mr Chair.

  • PRESS RELEASE : Statement – Summoning the Israeli Chargé d’Affaires

    PRESS RELEASE : Statement – Summoning the Israeli Chargé d’Affaires

    The press release issued by the Foreign Office on 21 May 2026.

    The Foreign, Commonwealth and Development Office has today summoned the Israeli Chargé d’Affaires to the United Kingdom.

    The UK has today summoned the Israeli Chargé d’Affaires to the Foreign, Commonwealth & Development Office following the inflammatory video posted by Israeli Minister Itamar Ben-Gvir.

    The summoning reflects the UK’s strong condemnation of his conduct in taunting those involved in the Global Sumud Flotilla. This behaviour violates the most basic standards of respect and dignity for people.

    We are also deeply concerned by the detention conditions depicted and have demanded an explanation from the Israeli authorities. We made clear their obligations to protect the rights of all those involved.

    The flotilla’s attempt to deliver aid underlines the severity of the humanitarian situation in Gaza. Israel must ensure significantly more aid can enter safely and at scale through land routes.

    We are in contact with the families of a number of British nationals involved and stand ready to provide consular support at any time.

  • PRESS RELEASE : Russia rejects peace efforts with intensified aerial attacks – UK statement to the OSCE [May 2026]

    PRESS RELEASE : Russia rejects peace efforts with intensified aerial attacks – UK statement to the OSCE [May 2026]

    The press release issued by the Foreign Office on 21 May 2026.

    The UK condemns Russia’s escalating attacks on Ukrainian civilians following Ukraine’s good faith ceasefire offer. Credible peace requires restraint and constructive engagement, not intensified violence.

    Thank you, Mr Chair.

    Words about peace matter only if they are matched by actions. Last week, Ukraine demonstrated that principle by offering to extend the ceasefire brokered by the United States, with the clear aim of reducing civilian harm and opening space for dialogue. That offer was clear, constructive, and made in good faith.

    Russia’s response was to unleash the most intense aerial assault of this war. In the 24 hours up to the morning of 14 May, Russia launched more than 1,470 drones and 56 missiles at Ukraine — the highest number fired in any 24‑hour period since the full‑scale invasion began. In Kyiv, Ukrainian authorities report that 24 people were killed and 47 injured, including children, when a residential building was struck.

    While Ukraine proposes ceasefires to stop the killing and open space for dialogue, Russia seeks or agrees to short pauses for different reasons. These moments of silence are not used to pursue talks or to build confidence. They are used to stockpile missiles and drones and prepare the next wave of attacks. Russia seeks ceasefires for convenience, spectacle and military advantage.

    We have seen the consequences of this approach not only in Kyiv, but across Ukraine. Civilian areas continue to be attacked. Critical services continue to be disrupted. At least 238 Ukrainian civilians were killed and a further 1,404 injured in April – a 13% increase from March and the highest since July 2025.

    Mr Chair, we cannot allow ourselves to become immune to the horror of what we are seeing. Attacks on civilian areas are not normal. The destruction of homes and the killing of families should never be met with resignation or indifference. If we lose our sense of shock, we weaken the principles this Organisation exists to uphold.

    The United Kingdom supports efforts to bring this war to an end. We support serious diplomacy that leads to a peace which is just and lasting. But credibility in peace efforts is demonstrated through actions, not declarations. Russia can show a willingness to move in that direction at any time: by stopping these attacks, by engaging constructively, and by choosing restraint over violence.

    The UK will continue to support Ukraine in defending its people and its territory. And we will continue to work with partners to ensure that these attacks are neither ignored nor normalised.

    Thank you.

  • PRESS RELEASE : New mass transit taskforce to reshape the future of transport in towns and cities [May 2026]

    PRESS RELEASE : New mass transit taskforce to reshape the future of transport in towns and cities [May 2026]

    The press release issued by the Department for Transport on 21 May 2026.

    The new taskforce will make recommendations to improve transit systems so they can be delivered more efficiently across the UK.

    • new taskforce will tackle barriers to delivery of mass transit systems across the UK, supporting economic growth, jobs and new homes
    • experts from planning and industry brought together to speed up building of beat blockers to development, unlocking connected trams, buses and railways
    • comes as government is to consult on new devolved powers to help mayors introduce mass transit systems

    New tram, light rail and bus networks in towns and cities have taken a step forward, as the government today (20 May 2026) launches the new Mass Transit Taskforce.

    The group, which includes leading experts from the world of transport, industry, finance and academia, will identify the biggest hurdles facing the introduction of mass transit systems across the UK and how to overcome them.

    Mass transit encompasses networks of trams, light rail and high-frequency buses that move large numbers of people quickly across towns and cities, and has transformed urban life in places like Greater Manchester, Nottingham, the North East and the West Midlands. These systems connect people with jobs, homes, public services and opportunities, while cutting congestion and carbon emissions.

    Working independently, and led by Chair Bridget Rosewell CBE, the taskforce will draw on best practice from across the world to make recommendations on how mass transit systems can be delivered more quickly and efficiently.

    Other members of the taskforce will include:

    • David Milner, Managing Director of Create Streets
    • Richard de Cani, Chief Officer for Global Business and Markets at Arup
    • Jason Prince, Director of the Urban Transport Group

    The Urban Transport Group will also provide the secretariat for the taskforce.

    Currently, factors like planning processes, fragmented funding arrangements and difficulties in acquiring land get in the way of delivering these systems, and the taskforce will seek to overcome these by identifying practical reforms to planning, financing and delivery models, and making targeted recommendations to government.

    To go alongside this, the government is also announcing that it will consult on measures to devolve additional powers to mayors, allowing them to have final say over decisions related to public transport – including mass transit.

    Known as Transport and Works Act orders (TWAOs), the devolution of these powers will ensure local leaders have more tools to deliver local transport, which meets the needs of local people.

    Transport Secretary, Heidi Alexander, said:

    Mass transit has the potential to transform towns and cities across the country. Creating a better, more integrated transport system will not only support economic growth and new jobs but will also deliver desperately needed housing.

    That’s why I am delighted to announce the formation of the Mass Transit Taskforce, which will use its skills and vast knowledge to deliver real and practical recommendations to shape the future of urban transport for years to come.

    Meanwhile, we’re putting power in local hands, empowering mayors to deliver mass transit in their towns and cities so they can make decisions for the communities they know best.

    The work of the Mass Transit Taskforce is already underway, with evidence already being gathered ahead of its first recommendations in 6 months.

    Further details on the taskforce, including its full membership and immediate next steps, will be announced in due course.

    Bridget Rosewell CBE said:

    Integrated mass transit systems can transform how people move around our towns and cities, connecting communities with jobs, homes and opportunity.

    I am pleased to chair this taskforce as it looks closely at the barriers to delivery and provides practical recommendations to government and local leaders on how to turn ambition into reality.

    Today’s announcement builds on a package of measures the government has taken to give local leaders greater control over transport in their areas.

    Spending Review 2025 committed £15.6 billion to Transport for City Regions (TCR) settlements, more than doubling investment in local transport across England’s largest city regions.

    The Bus Services Act, which became law in October 2025, marked a new era for bus travel – making it easier for local authorities to take control of routes, protecting passengers from sudden cuts and lifting the ban on councils running their own bus companies.

    The government’s Better Connected strategy, launched in April 2026, goes further still – setting out more than 40 commitments to make everyday journeys simpler and more affordable. Among its measures, local leaders are being given new tools to introduce tap-and-go contactless travel across buses, trams and trains, replicating the joined-up systems already in place in cities like Liverpool, London and Nottingham.

    Together with record investment in local roads and today’s Mass Transit Taskforce, the government is delivering on its commitment to give local leaders the powers and funding they need to build transport networks that work for their communities.

    Mayor of West Yorkshire, Tracy Brabin, said:

    We have ambitious plans for our region, and a mass transit system is a key part of that – by improving connections and boosting growth.

    But we all know that there are too many blockers to delivering mass transit schemes in this country, so I welcome this taskforce and support any measures that will bring about real change. Local leaders know their areas best – putting more powers in our hands will allow us to deliver on the change we know our communities want and deserve.

    North East Mayor, Kim McGuinness, said:

    I am pushing on with our project to take the North East’s Metro system to Washington, where residents have been campaigning to be part of the network since it opened in 1980.

    That shows how much people value world-class mass transit and I’m proud to be building Metro’s first new extension for 30 years as North East Mayor. Our iconic Metro system was the UK’s first modern mass transit system when it opened in 1980 and has since carried more than 1.7 billion people.

    It is a lifeline for so many people, with over 30 million journeys every year taking people to jobs, education and other opportunities. The government’s taskforce will help support my ambition to take Metro to new places as the heart of the Angel Network, a world-class integrated transport network where buses and mass transit can best meet the needs of local people.

    Helen Godwin, Mayor of the West of England, said:

    Mass transit is a crucial layer of the West of England’s transport system for the future. This is on top of the better buses, more trains and stations, and safer roads and active travel that we’re working to deliver.

    The government’s new Mass Transit Taskforce will bring additional expertise as we look at the best potential routes for mass transit in our region to move people around more quickly – whether that’s trams, light rail, or new buses. Just weeks ago, the historic Devolution Act empowered mayors with more levers to make things happen for our areas. Today, it’s brilliant to see even more powers being moved out of Westminster and into the West of England so that we can do more, faster.

    Liverpool City Region Mayor, Steve Rotheram, said:

    Liverpool was the birthplace of the world’s first intercity passenger railway, so we know better than most how transformative great transport can be – not just for how people get around, but for jobs, investment and opportunity too.

    That’s why I’ve pledged to get a rapid transit system up and running in the Liverpool City Region before Euro 2028, starting with bus rapid transit to better connect our communities and make it quicker and easier for people to get to work, education and the opportunities they deserve.

    For too long, big transport projects outside London have felt harder than they need to be. So it’s really encouraging to see government taking practical steps to help unblock delivery and put more power in the hands of local leaders. That’s how we turn plans on paper into spades in the ground.

  • Yvette Cooper – 2026 Comments on Ebola in eastern Democratic Republic of Congo

    Yvette Cooper – 2026 Comments on Ebola in eastern Democratic Republic of Congo

    The comments made by Yvette Cooper, the Foreign Secretary, on 21 May 2026.

    It is vital we act now to save lives – outbreaks like Ebola do not stop at borders, and neither can we.

    This outbreak is a stark reminder that global health threats require a global response. The UK is working hand-in-hand with partners – boosting much needed funding but also sharing our technical expertise,  to contain the outbreak, protect our security, and support those most at risk.

    The UK Health Security Agency (UKHSA) is assessing routes by which travellers enter the UK from the affected countries and will be working with the Foreign, Commonwealth & Development Office, Department for Transport, and Border Force to ensure information is available to them on Ebola symptoms and how to access healthcare if unwell. The UK has updated its travel advice and advises against all but essential travel to some parts of the DRC.

  • PRESS RELEASE : UK steps up support to stop spread of Ebola in eastern DRC [May 2026]

    PRESS RELEASE : UK steps up support to stop spread of Ebola in eastern DRC [May 2026]

    The press release issued by the Foreign Office on 21 May 2026.

    The UK has announced up to £20 million to support communities affected by the deadly Ebola outbreak in eastern Democratic Republic of the Congo.

    • Up to £20 million of new UK aid funding to help contain the recent outbreak of Ebola in Eastern DRC.
    • Funding will support a DRC-led response to protect frontline responders and local communities. 
    • UK Foreign Secretary Yvette Cooper to co-chair ministerial group to coordinate Government response.

    The UK has allocated up to £20 million in new funding to contain the deadly Ebola outbreak in eastern Democratic Republic of the Congo. The funding will help the World Health Organisation, UN, international and NGO partners respond rapidly to the outbreak by strengthening disease surveillance, supporting frontline health workers, improving infection prevention and control, and helping affected communities access lifesaving care. 

    Most confirmed cases are in the Ituri region of eastern DRC – a region already facing significant humanitarian and security challenges.

    Alongside this funding, UK humanitarian partners are already responding to contain the outbreak. The UK has been working with leading international humanitarian organisations to contain the outbreak. Through the Strategic Assistance for Emergency Response (SAFER) consortium, the UK is pivoting funding to improve water, sanitation and hygiene systems, ensuring frontline responders and local communities have vital personal protective equipment, and strengthening Ebola containment measures. 

    The UK is also refocusing efforts to protect maternity facilities and support civil society organisations to strengthen prevention and control, and mitigate the risk of increased birth complications and sexual violence during the outbreak.

    Today [21st May] the Foreign Secretary and Secretary of State for Health and Social Care chaired a cross-government meeting to coordinate the UK’s response to the outbreak, including how to protect British nationals overseas and work with international partners.  

    UK Foreign Secretary Yvette Cooper said:

    It is vital we act now to save lives – outbreaks like Ebola do not stop at borders, and neither can we.

    This outbreak is a stark reminder that global health threats require a global response. The UK is working hand-in-hand with partners – boosting much needed funding but also sharing our technical expertise,  to contain the outbreak, protect our security, and support those most at risk.

    The UK Health Security Agency (UKHSA) is assessing routes by which travellers enter the UK from the affected countries and will be working with the Foreign, Commonwealth & Development Office, Department for Transport, and Border Force to ensure information is available to them on Ebola symptoms and how to access healthcare if unwell. The UK has updated its travel advice and advises against all but essential travel to some parts of the DRC.

    Additionally, UKHSA has activated the Returning Workers Scheme, which aims to protect and monitor the health of individuals travelling from the UK to affected areas for their work. Organisations deploying workers to affected areas where they may be exposed to Ebola through their work should register those workers with the scheme.  

    Dr Mike Reynolds, Incident Director at UKHSA, said: 

    While the current outbreak of Ebola affecting the Democratic Republic of Congo and Uganda is serious, the risk it poses to the UK population is low. UKHSA continues to monitor and assess the situation closely and the NHS has safe procedures in place for any such cases and specialist centres where they can be looked after. 

    The UK Public Health Rapid Support Team stands ready to activate should requests for support be received from the DRC or Ugandan government, WHO, or other partners involved in response on the ground. 

  • PRESS RELEASE: Prime Minister call with President Zelenskyy of Ukraine [May 2026]

    PRESS RELEASE: Prime Minister call with President Zelenskyy of Ukraine [May 2026]

    The press release issued by 10 Downing Street on 20 May 2026.

    The Prime Minister spoke with President Volodymyr Zelenskyy of Ukraine this evening.

    The Prime Minister reaffirmed the UK’s steadfast support for Ukraine and set out our ongoing commitment to do everything possible to debilitate and degrade Putin’s war machine.

    He outlined how the UK was ramping up measures to crack down on Russia’s economy including through the new package of sanctions announced yesterday, and that as a result of the UK’s actions to date, there will be less Russian oil on the market, with Russia weaker as a result.

    The leaders reiterated the need to keep up this pressure on Russia and welcomed the strength of the UK-Ukraine relationship. The Prime Minister paid tribute to the people of Ukraine for their enduring courage in the face of Russia’s ongoing aggression. 

    They looked forward to speaking again soon.

  • PRESS RELEASE : We call on all parties to conflict to protect civilians – UK statement at the UN Security Council [May 2026]

    PRESS RELEASE : We call on all parties to conflict to protect civilians – UK statement at the UN Security Council [May 2026]

    The press release issued by the Foreign Office on 20 May 2026.

    Statement by Ambassador James Kariuki, UK Chargé d’Affaires to the UN, at the UN Security Council meeting on Protection of civilians in armed conflict.

    First, it is critical that we press all parties to conflict to not only uphold their legal obligations, but to do all they can to protect civilians and minimise harm. 

    We are deeply concerned at the Secretary-General’s reporting of 37,000 civilian deaths in conflicts in 2025, with Gaza and Sudan suffering the highest toll. 

     The scale of reported attacks on medical personnel and facilities is alarming. 

    This is all the more horrifying as we mark the ten-year anniversary of Security Council resolution 2286, which demanded an end to these attacks. 

    We call on all parties to conflict to comply with their obligations under international law, including international humanitarian law and international human rights law, to protect civilians.

    Second, as conflicts become increasingly complex, we need to hone our tools and evolve our approaches to best protect civilians.

    Technological advances, including AI, are changing the way conflicts are fought. 

    As the Secretary-General made clear, we are witnessing a rapid expansion in the use of weaponised UAVs in conflicts, including in Ukraine, Sudan, Lebanon and the DRC, with reports of the targeting of civilians and civilian infrastructure. 

    And having listened to the extraordinary intervention of our Russian colleague today, I feel compelled to respond to the hypocrisy. As part of its war of aggression in Ukraine, it has killed over 150 civilians this month alone. Russia is on track to fire more drones into Ukraine this month than any other since the start of the war. Killing dozens, injuring hundreds, and striking homes and civilian infrastructure, including pre-schools.

     But technological advances can also support the protection of civilians. 

    For example, UN peacekeeping missions are harnessing technology to improve situational awareness and protection, and we should continue to support this.   

    Finally, the protection of civilians depends on our collective action. 

    All member states, regional organisations, and the UN play a critical role. 

    We should continue using our diplomatic channels to press parties to conflict for humanitarian access and the protection of aid workers, including by supporting the ICRC Global Initiative.

     The United Kingdom will continue using its role in the Council to advance the protection of civilians and accountability. 

    And we are also proud to have launched, with international partners, the Coalition for Atrocity Prevention and Justice for Sudan to support civilians in one of the most destructive conflicts. 

    We look forward to continuing this international coordination to support civilians in conflict wherever they are.

  • PRESS RELEASE : RAF aircraft dangerously intercepted by Russian jets over Black Sea [May 2026]

    PRESS RELEASE : RAF aircraft dangerously intercepted by Russian jets over Black Sea [May 2026]

    The press release issued by the Ministry of Defence on 20 May 2026.

    UK Rivet Joint aircraft repeatedly and dangerously intercepted by two Russian jets over the Black Sea.

    An RAF Rivet Joint aircraft was repeatedly and dangerously intercepted by two Russian jets last month over the Black Sea. 

    One Russian Su-35 aircraft flew close enough to trigger emergency systems on the Rivet Joint, including disabling the autopilot system.

    In another dangerous intercept, a Russian Su-27 aircraft conducted six passes in front of the British aircraft, flying as close as six metres of the Rivet Joint’s nose.

    The Rivet Joint aircraft was carrying out a routine flight in international airspace over the Black Sea and was unarmed, which is part of the UK’s work alongside allies to secure NATO’s Eastern Flank.

    Despite the dangerous Russian actions, the RAF crew remained calm and professional throughout and completed their planned flight.

    This week, representatives from the UK Ministry of Defence and the Foreign, Commonwealth and Development Office démarched the Russian Embassy to condemn the pilots’ dangerous and unacceptable behaviour.

    Defence Secretary John Healey MP said:

    This incident is another example of dangerous and unacceptable behaviour by Russian pilots, towards an unarmed aircraft operating in international airspace. These actions create a serious risk of accidents and potential escalation.

    I would like to pay tribute to the outstanding professionalism and bravery of the RAF crew who continued with their mission despite these dangerous actions.

    Let me be very clear: This incident will not deter the UK’s commitment to defend NATO, our allies and our interests from Russian aggression.

    This incident was the most dangerous Russian action against a UK Rivet Joint since 2022, when a Russian plane fired a missile over the Black Sea.

    The RAF Rivet Joint is a reconnaissance aircraft that uses advanced sensors for electronic surveillance, enhancing situational awareness and helping keep NATO territory safe.

    This latest incident comes amid continued Russian aggression and heightened military activity in Eastern Europe and the High North.

    The intercepts came just days after the Defence Secretary exposed nefarious Russian submarine activity over critical underwater infrastructure in the North Atlantic, where British personnel, ships and aircraft were deployed alongside our Allies.

    The UK remains ironclad in its commitment to support our allies and defend every inch of NATO territory and its 1 billion citizens.

  • PRESS RELEASE : Boost for Britain’s financial services and greater protections for consumers as new legislation is introduced [May 2026]

    PRESS RELEASE : Boost for Britain’s financial services and greater protections for consumers as new legislation is introduced [May 2026]

    The press release issued by HM Treasury on 20 May 2026.

    Bill introduced to Parliament this week will unlock growth and investment across the country and boost protections for consumers.

    • Wider access to credit unions for consumers, simplifying regulation and reducing the number of regulators are some of the changes being brought forward.
    • This is part of the Government’s plan to build a stronger and fairer economy, building on good growth in the first quarter of this year.

    British business will become more globally competitive, growth and investment will be unlocked across the country and greater protections will be put in place for consumers under new legislation that has been introduced to Parliament this week.

    The Financial Services and Markets Bill will modernise how the sector is regulated, and enable it to grow and lend more to businesses. It will also make consumer protections fit for the digital age – all while maintaining high standards on regulation and oversight, supporting the UK’s position as a leading global financial centre.

    The Bill will include a power, pending the outcome of an independent review, to ensure the Government can protect access to face-to-face banking where communities rely on it. And widening access to credit unions so more people can access safe and affordable finance are among the changes.

    Simplifying regulation and reducing the number of regulators is among the changes being made to support businesses, so decisions are made quicker and their growth isn’t held back.  The Bill will also support lending and investment including by updating the statutory framework underpinning the ring-fencing regime.

    This is part of the Government’s wider plan to build a stronger and fairer economy for all, building on good growth in the first quarter of this year.

    Economic Secretary to the Treasury, Rachel Blake, said:

    Our financial services sector is world-leading, creating jobs, boosting growth and firing up our economy in Leeds, Manchester, Edinburgh and London.

    This Bill will unlock even more growth in the sector, making red tape less burdensome to business and boosting protections for consumers – part of our plan to build a stronger and fairer economy.

    The Bill will ramp up protections and accessibility to finance for British consumers by:  

    • Modernising consumer protections and redress arrangements. Consumers will be better protected when something goes wrong and terms and conditions will have to be worded in simpler terms so everyone can understand them. Reforms to the Financial Ombudsman Service will allow people to resolve disputes faster and with greater certainty. 
    • Allowing credit unions to expand by improving the rules on who can become a member. This will allow credit unions to serve more people and communities, widening access to affordable finance and supporting the Government’s aim to double the size of the mutual and co-operative sector.  
    • Ensuring access to in-person banking services for the future. Subject to an independent review, the Government will take the power to ensure communities retain their access to face-to-face banking where they need it. This is particularly important for rural communities and pensioners who are not online.

    The financial services sector will also be supported to innovate and grow by:

    • Simplifying regulation and reducing the number of regulators. Responsibilities of the Payment Systems Regulator will be absorbed by the Financial Conduct Authority. This means firms will have fewer overlapping regulators to deal with and will see faster decision making, allowing them to grow faster.
    • Ensuring that the administrative burden on firms is proportionate while keeping important consumer and market protections. This includes reducing the overall burden of the Senior Managers and Certification Regime – the framework that holds senior leaders in financial firms personally accountable – by 50 per cent. This will free up firms to focus on serving customers and invest in growth, rather than dealing with overly burdensome compliance processes.  
    • Supporting lending and investment by updating the statutory framework underpinning the ring-fencing regime. This regime requires major banks to separate their UK retail banking services from investment banking activities. The reforms will unlock more finance for UK businesses, especially smaller businesses who will be able to access finance more easily.