Tag: Press Release

PRESS RELEASE : Speaking Points for the conference on Bulgaria in the Eurozone—Advantages and Opportunities [December 2022]
The press release issued by the IMF on 9 December 2022.

Speaking Points for the conference on Bulgaria in the Eurozone—Advantages and Opportunities

By Alfred Kammer
Introduction

It is a great pleasure to be here in Sofia today.

Let me start with my bottom line:

In my view, becoming a full member of the euro area offers important benefits for Bulgaria—strengthened institutions and a seat at the table when the ECB determines monetary policy for all euro area members.

But joining the euro area is not a panacea for all of Bulgaria’s challenges; and completing the accession process will require more policy work and the determination to overcome the obstacles that are still ahead.

So, there is some work ahead, but Bulgaria has shown in the past that it can meet crucial challenges like these.

Let me discuss these arguments in more detail.

Bulgaria’s Currency Board Experience

While euro area membership comes with challenges, Bulgaria has over two decades of experience with an unmovable exchange rate.

Formally introducing the euro means giving up monetary independence for good. This is a consequential decision. But Bulgaria has operated a currency board since 1997, when it traded exchange rate flexibility as a tool to absorb external shocks for the external stability promised by a credible fixed exchange rate regime which since 2000 has been pegged to the euro.

So, monetary policy has been tethered to the decisions of the ECB for almost a generation, and Bulgaria’s policymakers are already well aware that, in such a setting, fiscal and structural policies are the main tools for macroeconomic management and for fostering economic convergence.

I would add that the currency board has served Bulgaria well.

One reason is that the currency board has brought economic stability. This is largely because it was supported by disciplined fiscal policy, thanks to which Bulgaria enjoys one of the lowest public debt ratios among all EU member countries. This is a key asset in the current turbulent environment which is characterized by increases in long-term yields and spreads across Europe.

We have also seen some progress on structural reforms, even though more work is ahead in this area to foster faster income convergence with EU peers and to increase living standards.

I would also argue that Bulgaria’s currency board and strong fiscal position were among the factors that helped shield it from some of the financial market stresses that affected many of the Eastern European economies following the tightening of financial conditions since the summer.

Euro Benefits

It is clear that adopting the euro promises important benefits.

First, joining the euro would reduce transaction costs for trade and financial flows by eliminating all currency conversion costs, thereby increasing economic efficiency.

Second, and perhaps more importantly, euro introduction would remove uncertainty about the country’s future policy framework, strengthen external credit ratings and further reduce public and private funding costs. This would help foster foreign and domestic investment and thus higher economic growth.

Third, while joining the euro will not eliminate sovereign crisis risk, it would largely shelter Bulgaria from volatile capital flows and eliminate any residual risks of speculative attacks against the currency that disproportionately affect small, open economies.

This means, it would further strengthen financial sector stability, including by giving Bulgarian banks access to the ECB’s lending and emergency facilities to support liquidity needs in emergency situations. This would add to the already large gain from having joined the banking union.

Last but not least, introducing the euro would give Bulgaria a seat at the table where monetary policy that affects the country is decided. Under the currency board, Bulgaria “imports” the ECB’s monetary policy decision without any input into the decision making.

The experience of Euro adopters—the Baltic countries

The Baltics are a good example of how strong post-accession policies can help make euro area membership a success:

The underlying fiscal position strengthened, particularly in Latvia and Lithuania, with fiscal balances close to zero post-euro adoption and prior to the Covid crisis. In this context, the cost of public debt fell, with government bond spreads vis-à-vis German Bunds being about 2 percentage points lower, on average, after adoption.

Before the energy crisis triggered by Russia’s invasion of Ukraine, the inflation gap with the euro area remained positive but small and stable, at about 1 percentage point. It was sustainable because strong structural policies supported a positive productivity differential vis-à-vis the euro area. Among these policies were sound and stable labor market institutions that, by delivering labor market flexibility, also ensured that real wages remained broadly in line with productivity. This, in turn, contributed to maintaining strong external competitiveness.

In addition, strong supervisory and macroprudential policies helped sustain financial stability.

Overall, the three Baltics gradually but steadily built significant policy and macroeconomic buffers post-adoption, building on the efforts they had already displayed prior to adoption.

And euro membership itself also contributed to a vast reduction in risks of disorderly capital outflows or sudden stops during periods of stress. This, in turn, also facilitated the conduct of fiscal policy.

Lessons for Bulgaria

What does this mean for Bulgaria? In a nutshell, to thrive before and after euro adoption, Bulgaria will need to keep up the good work—maintaining strong policy discipline, retaining flexible labor markets, and carrying out growth-enhancing structural reforms.

But let me be more specific:

Bulgaria should continue its tradition of fiscal responsibility and preserve the hard-won gains in this area. This will be important to continue fostering macroeconomic and financial stability under the euro.

Importantly, accelerating reforms to boost productivity and competitiveness is needed to make euro adoption a success. This is crucial, as trend unit labor costs have been growing faster in Bulgaria than in the euro area because wage growth, pushed by labor shortages, outpaced productivity improvements.
- Strengthening governance, increasing transparency, and fighting corruption are crucial to improve the business environment and increase the efficiency of public spending and the quality of public investment. This will promote a more productive and more inclusive economy.
- Investing in human capital to align education, health, and social protection outcomes with those of EU member states is also important. For example, education outcomes remain well below the averages of EU member countries or newer EU member states.
- In addition, Bulgaria will benefit from addressing skill mismatches and boosting labor force participation to help ease labor market pressures.
And continuing to promote the green transition and digitalization will help sustain growth over the longer term. For instance, the use of digital technology by businesses and digital skills are among the lowest in Europe, notwithstanding progress made in building the supporting digital infrastructure and developing e-government.

Let me close.

Bulgaria’s currency board has fostered a commitment and discipline that has contributed to the economic success of the past quarter century. With equally strong commitment and discipline, euro adoption could contribute to an equally successful journey in the next quarter century.

Thank you.
10/12/2022
PRESS RELEASE : EU Tax Symposium “Road to 2050: A Tax Mix for the Future” [November 2022]
The press release issued by the IMF on 28 November 2022.

Keynote Speech Vitor Gaspar

Prepared in collaboration with Ruud de Mooij

Thank you very much for inviting me to speak in the EU Tax Symposium: Road to 2050.

I find the topic of ‘the tax mix for 2050’ timely and important. To me, it shows how the EC is ahead of the game in preparing for the challenges of the future. This is very welcome and very necessary in today’s turbulent times. Many policy makers are occupied with the transition out of the pandemic or dealing with the challenges of inflation. During such turbulent times, the contrast between wisdom and folly looms large and can have long lasting consequences.

The focus on tax and 2050 allows me to reminisce on my experience at the Commission’s Bureau of European Policy Advisers and the last report I wrote for the President of the European Commission on Taxation in the Digital Economy.

Back in history

To predict the future, we first need to understand the past. Let me take 4 minutes to highlight some of the remarkable changes in taxation that have occurred over the last 1½ century or so.

In the old days, say before 1870, states used simple tax handles to fund their operations, such as customs duties, transaction taxes and several funny taxes that were recently described in a fascinating book by Joel Slemrod and Michael Keen (e.g. taxes on chimneys, windows, hats, wigs, candles, mirrors, dogs, salt and bricks). Many of these taxes were of course highly distortionary as they are directly penalizing the functioning of markets and trade.

You may even have noticed that I stole the reference—to wisdom and folly—from the Keen and Slemrod book.

The modern income tax was a major innovation of the late 19 ^th and early 20^th century. It was first developed in Britain. Corporate income taxes came a little later and served as an effective withholding mechanism for the income tax. Anticipations of the international corporate tax system go back to the 1920s.

These innovations have led to a much more prominent role of the state. Tax-to-GDP ratios rose from a little over 7% in 1870 to well above 27% today. It coincided with the appearance of the modern social welfare state. Brad DeLong showed that this long 20th century is associated with the best 140 years of economic growth in History.

In the 1970s and 1980s, top income tax rates on personal income had risen to levels of 70 or 80%, while corporate tax rates were often 40 to 50%. These high rates turned out to be too distortionary and became unstainable. Since then, tax rates have declined.

After WWII, France invented the Value Added Tax. This gained traction in the EU in the 1970s to replace various distortionary and cascading turnover taxes. Since then, we have seen a global “spread of VAT”, with a leading role of the IMF. In Europe, VAT is now responsible for more than one quarter of revenue.

During the last 20 years we have also witnessed something else: its corrective role. This is based on Pigou’s principle to set prices right and, for example, make polluters pay. Carbon taxes and other environmental levies were first pioneered in Scandinavia in the 1990s and have since spread to 45 countries around the world.

Please note that all listed tax innovations originated in Europe. What they have in common is that they came in response to mounting distortions that made the earlier system untenable. They also explored information and administrative capacity as they became usable, over time. These themes I will explore in the remainder of my talk.

Drivers of change

The EC has identified 4 mega trends that will likely shape the tax mix of the future. Let me reflect briefly on each of them and how I think they will drive changes in taxation. I think the best perspective to take is that of Joel Slemrod in his book of 2014 who emphasizes the importance of an integrated approach encompassing tax policy, administration and legal aspects.

#1 Digitalization: or in the context of taxation, perhaps call it the information revolution. Digital revenue administration has already visibly reduced tax compliance gaps around the world. During the pandemic, we saw how quickly transformations happened. And much more is likely to come in the next 30 years. What I find intriguing is that this information revolution is putting classic tax theory on its head. This theory is based on information constraints—the theory of 2^nd best. We now need to rethink the old ways of taxation—distortions are no longer what they were in the past.

#2 Population dynamics: An ageing society with a declining population faces the inevitable challenge how the shrinking working population can support the expanding group of retirees. The heavy reliance on labour taxes seems to be unsustainable. As more elderly people retire and dissave, the tax burden will have to shift to consumption taxes, which are a more robust revenue source in an ageing society.

#3 Globalization has been ongoing for decades. New digital technologies and intangible assets make production factors ever more mobile, and it is therefore harder to sustain taxes where the production factors are. The destination principle is more robust to globalization because it depends on where less mobile consumers are. We already see a tendency toward destination-based taxes, for example in Pillar 1 of the global tax deal and the gradual shift toward VAT.

#4 Global public goods: Not only do climate externalities call for carbon tax to reflect the social cost of GhG emissions; corrective taxes can possibly be used for other environmental problems (waste, biodiversity), and other global public goods such as health (pandemics) or externalities in the financial sector (crypto assets).

So, the 4 mega trends will likely shape the direction of change in the tax system of 2050. However, change needs to be managed by people in governments and institutions. We therefore need to understand also how the political economy of tax reform evolves to make informed predictions of the future.

Scenarios for tax mix

Let me offer a brief perspective on what might happen with the tax system over the next 3 decades by sketching two scenarios. It emphasizes that we cannot take for granted that the theoretically ideal tax response can be implemented. The scenarios are based on two key uncertainties for the future:

(i) Trust in government: For instance, for government to be trustworthy in the digital age, it must prove its strong accountability and transparency through the primacy of the rule of law and permanent scrutiny by citizens. That is exactly what Lorenzetti’s painting here and on the first slide reflect. Can governments live up to that expectation? Or will they lack credibility, act opportunistically, and create uncertainty?

(ii) International cooperation: Will countries manage to effectively cooperate to address common challenges? Or will there be fragmentation, as we currently see in some areas?

By combining the two key uncertainties, we can in principle sketch 4 scenarios. Given time, I’m highlighting only two (2) of them, to show how the tax mix could differ in these diverging worlds.
- Scenario 1 is a world of mistrust in government and fragmentation.
- In this world, citizens demand strict data privacy and digitalization can’t revolutionize tax enforcement. Rather, digitalization exacerbates market power of large multinationals and raises the power of elites. This limits the ability for progressive taxation.
- Also in this world, unreliable governments do not deliver on their promises and tax certainty is low; governments rely on instruments such as repeat amnesties and ad-hoc windfall taxes instead of a stable rules-based system.
- At the same time, fragmentation prevents effective international and European cooperation: countries are reluctant to introduce carbon taxes and there remains fierce tax competition that erodes corporate and personal tax bases.
- Scenario 2 is a world of trust and international cooperation
- In this world, governments can (i) exploit the gains from digitalization; (ii) effectively respond to domestic trends such as ageing; and (iii) cope with international challenges such as tax competition, tax avoidance/evasion and carbon pricing.
I prefer the second scenario. But that scenario requires hard work in building and sustaining credible institutions, including in the EU. A strong Europe will be essential for two reasons.

EU in the world

First, in 2050 we need a strong Union to address the common European challenges reflected in the mega trends that cannot be resolved by individual countries. A stronger role of the EU based on macroeconomic stability and Europe-wide public goods will be essential to remain credible. This role might go beyond the coordination of national tax policies and also raises the important question about the vision for the EU budget in 2050:
- What will be the financing model to the EU budget in 2050? Will there be European taxes?
- How would that fit in the overall tax system (European; national, sub-national)?
Remember that in the US, the central government in 1780 had no taxing powers and relied entirely on national contributions from the 13 States of the confederation. And each state had veto power.

Second, Europe’s role in the global economic order is vital. As history shows, Europe has always been at the frontier of tax system innovation and served as the pioneer of the social welfare state. Is may again play this leadership role in the developments to 2050.

The single market of 1992 and the single currency of 2001 are its most emblematic achievements. The best environment for Europe is capitalism embedded in a rules-based global order. For Europe to be effective in the global arena, its countries must work together. Let me conclude with a quote from Jean Monnet from November 9, 1954. On that day, he said to his colleagues. “ Our countries have become too small for the world of today, for the scale of modern technology and of America and Russia today, or China and India tomorrow ”.
10/12/2022
PRESS RELEASE : King and The Queen Consort celebrate Wrexham’s new city status [December 2022]

The press release issued by Buckingham Palace on 9 December 2022.

Wrexham AFC

Their Majesties started the day at Wrexham Association Football Club (AFC), where they met the club owners Ryan Reynolds and Rob McElhenney, alongside players, to learn about the redevelopment of the club.

During the visit, The King and The Queen Consort learn about the redevelopment of the club, which is the third oldest professional team in the world.

The club is now owned by Hollywood actors, Ryan Reynolds and Rob McElhenney, who are aiming to grow the team the team and return it to the English Football League in front of increased attendances, and in an improved stadium, while making a positive difference to the wider community in Wrexham.

St Giles’ Church

Their Majesties then headed to St Giles’ Church for a celebration to mark Wrexham becoming a city, which it received as part of The late Queen Elizabeth’s Platinum Jubilee.

The King formally marked the conferral of city status and made a short speech.

There was then the opportunity to view the Church’s treasures including the First Edition King James Bible and a rare early 14th century chalice which is still in use before meeting Church and ecumenical representatives and local community groups.

Erdigg

At National Trust site Erdigg, The King, joined by the First Minister of Wales, planted an oak sapling, grown from the ancient Pontfadog Oak.

The Pontfadog Oak fell during a storm in 2013, and the Crown Estate subsequently manged to propagate the original tree.

His Majesty and The First Minister had previously viewed the sapling during a visit to the National Botanic Gardens in July 2022, which had been grown to mark Her Majesty Queen Elizabeth’s Platinum Jubilee, and has now been planted in her memory.

10/12/2022
PRESS RELEASE : The King celebrates the 40th anniversary of Business in the Community [December 2022]

The press release issued by Buckingham Palace on 7 December 2022.

The King has joined a special event at Central Hall Westminster to celebrate the 40th anniversary of Business in the Community (BITC).

Business in the Community (BITC) was formed in 1982 and is the largest and longest-established membership organisation dedicated to responsible business. Today, the organisation works and campaigns with more than 600 businesses, alongside other stakeholders, with the aim of making society fairer and greener. As Prince of Wales, His Majesty was the Royal Founding Patron of BITC.

As part of the event, His Majesty viewed a display of four decades of BITC’s work, and met Fellows who have supported the organisation’s efforts over the years.

The King also recognised the impact of BITC’s Race at Work initiative which has been running for 27 years.

Business in the Community’s Race Equality campaign started in 1995 when a network of senior business leaders recognised that business action was needed to address the imbalance of opportunities for Black, Asian, Mixed-Race, and other ethnically diverse employees in workplaces across the UK.

10/12/2022
PRESS RELEASE : St Edward’s Crown removed from the Tower of London ahead of the Coronation [December 2022]

The press release issued by the Royal Family on 3 December 2022.

St Edward’s Crown, the historic centrepiece of the Crown Jewels, has been removed from the Tower of London to allow for modification work to begin ahead of the Coronation on Saturday 6th May 2023.

As per tradition, The King will be crowned with St Edward’s Crown during the Coronation Service at Westminster Abbey.

The King will also wear the Imperial State Crown during the Service.

St Edward’s Crown is the crown historically used at the moment of Coronation, and worn by Her Majesty Queen Elizabeth at her Coronation in 1953. It was made for Charles II in 1661, as a replacement for the medieval crown which had been melted down in 1649. The original was thought to date back to the eleventh-century royal saint, Edward the Confessor – the last Anglo-Saxon king of England.

The crown was commissioned from the Royal Goldsmith, Robert Vyner, in 1661. Although it is not an exact replica of the medieval design, it follows the original in having four crosses-pattée and four fleurs-de-lis, and two arches. It is made up of a solid gold frame set with rubies, amethysts, sapphires, garnet, topazes and tourmalines. The crown has a velvet cap with an ermine band.

10/12/2022
PRESS RELEASE : Government awards £45 million to maintain flagship scientific research vessels including RRS Sir David Attenborough [December 2022]
The press release issued by the Department for Business, Energy and Industrial Strategy on 10 December 2022.

Industry and Maritime Minister Nusrat Ghani announces £45 million in funding to maintain the UK’s state-of-the-art fleet of research vessels.
- Babcock International’s Rosyth shipyard today has been awarded £45 million to maintain the UK’s fleet of scientific research vessels – RRS Sir David Attenborough, RRS Discovery and RRS James Cook.
- the three vessels involved in some of the most pressing global research across the globe, visiting polar regions and depths of tropical oceans
- this investment is a boost for UK shipbuilding and will support highly-skilled jobs and suppliers in Scotland and across the UK, and a key step in the government’s National Shipbuilding Strategy.
£45 million in funding to maintain the UK’s state-of-the-art fleet of research vessels has been announced today (Saturday 10 December) by Industry and Maritime Minister Nusrat Ghani.

The £45 million contract, awarded to Babcock International by the Natural Environment Research Council (NERC), is a key component of the government’s National Shipbuilding Strategy, boosting investment in the prestigious UK shipbuilding industry.

Maintenance and upgrades will be carried out on RRS Sir David Attenborough, RRS Discovery, and RRS James Cook, three ships which conduct innovative scientific research into our oceans and polar regions, and support scientists tackling global issues such as climate change and pollution.

Industry and Maritime Minister, Nusrat Ghani said:

RRS Sir David Attenborough and its maiden voyage to Antarctica inspired the explorer in all of us, venturing into some of the world’s most unforgiving climates, while conducting vital scientific research on pressing global issues like sea level rise and marine biodiversity.

This research is invaluable, which is why we are committing the funding needed for the upkeep of these key research vessels, drawing on Rosyth Shipyard’s proven track record of excellent work maintaining UK ships.

The shipbuilding industry supports more than 40,000 jobs across the UK. This investment will secure highly skilled jobs and suppliers to maintain the UK’s advanced fleet of research ships.

The initial three-year contract, with additional two-year option, will see the large oceanographic and polar research vessels dock at Babcock’s state-of-the-art facilities in Rosyth, Scotland, for programmed maintenance and upgrade work.

Babcock Rosyth is a leading provider of maritime support, and where maintenance, repairs and upgrades are also carried out on the UK Royal Navy’s aircraft carriers.

Defence Secretary and Shipbuilding Tsar, Ben Wallace, said:

This is another fantastic example of the National Shipbuilding Strategy delivering for British industry and boosting investment in UK yards.

A cornerstone of British shipbuilding, Rosyth is already home to a number of major build and maintenance contracts, bringing a wealth of expertise and experience to the British shipbuilding sector.

Professor Sir Duncan Wingham, Executive Chair of NERC, part of UK Research and Innovation, said:

The UK’s fleet of advanced research ships provides state-of-the-art facilities for scientists to conduct research of our oceans and polar regions, building our understanding of the ice, atmosphere, and seas.

We look forward to working with Babcock Rosyth to maintain these ships and onboard facilities, which are a key part of the UK’s scientific infrastructure.

David Lockwood, Babcock CEO said:

We are delighted to have been awarded the contract to maintain this important NERC fleet.

Our flexible and efficient solution will ensure the fleet is maintained to exceptional standards and optimise vessel availability in support of NERC’s global footprint.

Tom Chant, CEO of the Society of Maritime Industries, said:

Congratulations to Babcock on this important business win. The Rosyth base has already benefitted from the investment for the Type 31 project. This has developed the workforce and their skill base and created a world beating shipyard.

The skills and facilities at Rosyth will be a great match for the NERC vessels with their specialist requirements and tough expeditionary voyages.

The RRS Sir David Attenborough is operated by the British Antarctic Survey (BAS) and is one of the world’s most advanced polar research vessels, having departed the UK for its maiden voyage in November 2021. The vessel recently left its UK home port on November 20th, for a six-month expedition to Antarctica. In the coming expedition, the RRS Sir David Attenborough will be testing a new artificial intelligence system which will help chart the most environmentally-friendly route at any given time.

Measuring 129 metres in length and with a range of 19,000 nautical miles, it accommodates up to 90 crew, scientists, and support staff, and will enable research of the oceans, seafloor, ice and atmosphere.

The RRS Discovery (2013) and RRS James Cook (2006) are operated by the National Oceanography Centre (NOC) and conduct oceanic exploration around the world, undertaking multi -disciplinary marine science to unlock the mysteries of the deep ocean.

Following the refit, RRS Discovery will be heading to the Arctic to explore nitrogen fixation with the University of Liverpool and NERC, whilst RRS James Cook will continue its research expeditions to some of Earth’s most challenging environments, from tropical oceans to the edge of ice sheets.

All three research ships use state-of-the-art technologies such as autonomous underwater vehicles, including the famous NOC Autosub called Boaty McBoatface.

Boaty, and other NOC-developed technologies have the ability to travel under ice and to depths of 6,000m to investigate the process driving change in the Polar Regions. The marine robot fleet at NOC is one of the most capable in the world and support the ships’ scientific research with environmentally-friendly marine observation.
10/12/2022
PRESS RELEASE : Pubs, clubs and shops across the UK saved for local communities by £6.7 million rescue package [December 2022]
The press release issued by the Department for Levelling Up, Housing and Communities on 10 December 2022.

More than 30 pubs, clubs, theatres and other venues at risk of closure have been saved and placed in the hands of local people thanks to £6.67 million of government levelling up funding.
- Funding will help community groups take ownership of local institutions that have fallen into disrepair or are under threat of closure
- Department for Levelling Up, Housing and Communities announced second round allocations from £150 million Community Ownership Fund (COF)
- Scheme will help restore Moor Pool Snooker Hall in Birmingham, refurbish changing pavilions in Falkirk and rescue an 180-year old village shop in Llandyrnog
More than 30 pubs, clubs, theatres and other venues at risk of closure have been saved and placed in the hands of local people thanks to £6.67 million of government levelling up funding.

The Department for Levelling Up, Housing and Communities has today announced allocations from the second round of the £150 million Community Ownership Fund.

The funding will help community groups take ownership of local institutions that have fallen into disrepair or are under threat of closure and give them a new lease of life, ensuring they continue to provide vital services, create opportunities and boost local economies

Successful projects include the Margaret Haes riding centre in Bury, which supports people with disabilities, historic pubs in Warrington and Limpley Stoke and grass-roots sports clubs in Falkirk and Devon.

Levelling Up Minister Dehenna Davison said:

“We’re putting beloved pubs, clubs and heritage sites into the hands of local people to ensure these cherished institutions and the vital services they provide are guaranteed for future generations.

“With the government backing announced today, these places will continue to thrive, make a difference to people’s lives and be run by the local community for the local community.”

Combined with Round 1 projects, this additional funding takes the overall total to £16.74m for 70 projects, with £2.0m allocated to Scotland, £1.6m to Wales and £1.3m to Northern Ireland.

Successful projects include:
- The Margaret Haes riding centre in Bury will be saved from closure so it can continue to provide vital services to people with disabilities and their carers.
- Grass-roots sports clubs in Falkirk and Devon will more than £249,000 to transform dilapidated changing pavilions into modern, inclusive, multi-purpose facilities for everyone in the community.
- The Kingswood community centre in Southwark will receive £180,000 in funding to reopen the library and community space for weddings, birthdays and art classes.
- The historic Albert Park in Glasgow’s Southside will also benefit from £100,000 of levelling up cash to restore the clubhouse and pavilion
- The ‘Haverhub’ in Pembrokeshire, a social enterprise nestled in the heart of the historic Quay Street and Riverside Quarter, will take ownership of their building so they can provide a variety of educational courses for local people.
- A village pub in Kent, The Honest Miller, has been saved from closure so it can return and serve food and drinks to locals overlooking the Kent Downs, an Area of Outstanding Natural Beauty.
- The Aberystwyth and District Hospice provides vital support to people with chronic and life limiting conditions and their carers. The grant will give the local community the funds they need to buy their premisses outright and make the building more accessible for its users.
- On the Isle of Arran, Scotland the doors of the Lochranza Hotel Bar will open again to welcome locals to enjoy their selection of malt whiskies.
- The Zion Community Arts centre in Bristol will retain its place in the community and provide space for local history groups and businesses.
- The “Heart of Newhaven” in Edinburgh will be reinvented into a vibrant space for theatre groups, choirs and local enterprise.
- In Northern Ireland, the Glór Uachtar Tíre community centre will be transformed into a multi-generational bedrock providing a café and office space, Irish language preschool, a youth radio station and creche facilities.
Debra Batchelor, Trustee at the Margaret Haes Riding Centre said:

“Thanks to this funding, the riding centre can secure the property for present and future generations to benefit from the experiences of being with horses – to empower children and adults with learning disabilities, physical and mental health disabilities, and emotional and social challenges, to lead active and fulfilling lives through equestrian activities. This would not have been possible without the award from the Community Ownership Fund . We can now unlock so many exciting opportunities to develop our facilities and experiences, and further benefit our community. Dreams can come true!”

Cllr Steve Roche, Horrabridge Parish Council said:

“Horrabridge’s King George V Memorial Sports Pavilion support’s the village’s 20 football teams, from age six to walking seniors, including four girls teams. This major grant is the key to providing a new pavilion, fit for purpose. The old pavilion has served us well, very basic, but in a bad state of repair and this grant will help us to save this valuable community asset.”
10/12/2022
PRESS RELEASE : Russia is perpetrating this war of aggression with weapons sourced from Iran – UK statement at the Security Council [December 2022]

The press release issued by the Foreign Office on 9 December 2022.

Statement delivered by Ambassador Barbara Woodward at the Security Council briefing on Ukraine.

Thank you President and I thank the High Representative for Disarmament Affairs for her briefing.

President, I will be brief because we discussed Russia’s war of aggression on Ukraine just three days ago.

During that meeting, we heard Under-Secretary-General Griffiths’ harrowing account of the horrific consequences of Russia’s war and his deep concerns about the impacts of systematic attacks on Ukraine’s critical infrastructure and civilian centres, particularly ahead of winter. We have just seen further OHCHR reporting on potential atrocities against civilians committed by Russia.

The irony, given the topic of this meeting, is that Russia is perpetrating this war with weapons sourced from Iran in violation of resolution 2231, and is almost certainly seeking to source weaponry from other UN sanctioned states like North Korea as its own stocks dwindle.

We note that despite the resounding calls in this Council again on Tuesday for a ceasefire, and for peace, meaningful dialogue and diplomacy, the Russian President on Wednesday doubled-down, confirming that the invasion would continue and that it would be protracted. He also reaffirmed the neo-imperialist nature of the campaign, claiming that unlike Peter the Great, he had made the Sea of Azov a Russian internal sea.

President, in the face of Russia’s relentless effort to seize Ukraine’s territory in breach of the UN Charter, and to dehumanise, kill and subjugate its people, Ukraine has no choice but to exercise its right to defend itself. If it does not, it would cease to exist. In a similar situation, all of us would do the same. And due to the deep determination to live, Ukraine is prevailing.

The UK is proud of the support it is providing to the Ukrainian people in the face of this aggression, be it defensive, humanitarian or assistance to rebuild critical infrastructure destroyed by Russian attacks.

President, Russia can end this suffering immediately by ceasing attacks against Ukraine, including critical national infrastructure and innocent civilians, and withdrawing all of its forces illegally present in Ukraine.

We welcome and support Ukraine’s initiative for a just and sustainable peace. We again join the international community in calling on Russia to similarly commit to meaningful dialogue and negotiations based on upholding Ukraine’s rights under international law and the UN Charter.

Thank you President.

10/12/2022
PRESS RELEASE : The recent ceasefire is an opportunity to ensure peace prevails in the Democratic Republic of the Congo [December 2022]

The press release issued by the Foreign Office on 9 December 2022.

Statement by Ambassador James Kariuki at the Security Council briefing on MONUSCO.

Thank you President,

Let me begin by thanking all our briefers today and I welcome Deputy Prime Minister and Foreign Minister Lutundula to our meeting.

President, I will focus my intervention on the situation in eastern DRC, regional efforts, MONUSCO and sanctions.

President, the UK remains deeply concerned by the security situation in eastern DRC, in particular increased armed group violence. We strongly condemn the attack by M23 in Kishishe that killed 131 civilians, as confirmed by the UN Joint Human Rights Office and MONUSCO.

We take note of M23’s statement indicating their willingness to withdraw from their current positions. We call on them to do so immediately and to uphold the Luanda ceasefire.

We also urge the Government, with the support of MONUSCO, to use all necessary measures, to prevent further M23 advances, including towards Goma.

The humanitarian toll of this violence has been devastating, and in this regard, we urge all actors to ensure assistance reaches affected people, including the 1.29 million newly displaced this year.

President, the UK reiterates our full support for the Nairobi and Luanda political processes. We are delighted to announce UK funding to support the East African Community led Nairobi Process.

We encourage continued dialogue through this and for Congolese armed groups to participate in the Nairobi process. We welcome the recently agreed ceasefire in Luanda and urge all parties to uphold their commitments to ensure peace prevails.

All support to armed groups must stop, including external support to M23. We call on countries in the region to use all means available to them to urge an immediate ceasefire of hostilities and immediate resumption of consultations on concrete steps to deescalate current tensions.

President, I welcome the information shared by EAC Secretary-General Mathuki today. Both the EAC Force and DRC Armed Forces must substantively engage with MONUSCO on de-confliction of operations to ensure the protection of civilians, as well as the safety and security of peacekeepers and the effective implementation of MONUSCO’s mandate.

The UK fully supports the work of MONUSCO and commends the Mission, and SRSG Keita, for their continued efforts in increasingly challenging circumstances.

We remain deeply concerned by the widespread anti-MONUSCO sentiment in DRC, which undermines the mission’s ability to implement its mandate. We encourage the Government of DRC to engage in a structured dialogue with MONUSCO to clarify roles and responsibilities for a responsible, conditions-based drawdown of MONUSCO.

Let me conclude by welcoming the cooperation extended by the DRC, Rwanda and Uganda to the DRC Sanctions Committee during its recent visit to the region. It is regrettable that Russia has blocked the SRSG for Sexual Violence in Conflict from briefing the DRC Sanctions Committee, particularly given that this a significant problem in the DRC and one that the Government is committed to working with the international community to tackle.

Thank you.

09/12/2022
PRESS RELEASE : United Kingdom calls for global community to continue fight against corruption [December 2022]

The press release issued by the Foreign Office on 9 December 2022.

At the International Anti-Corruption Conference in Washington DC, the United Kingdom delegation emphasised the need for the global community to continue fighting illicit finance and corruption.

Senior representatives from international governments joined key business leaders on 6 December 2022 to discuss recently taken action and the need to continue to take a robust stance.

Speakers included Jake Sullivan, the US National Security Advisor, Maia Sandu, the President of Moldova and David Malpass, the President of the World Bank.

His Majesty’s Ambassador to the US, Karen Pierce, represented the UK and spoke at the event. She said:

Russia’s invasion of Ukraine has shown that corruption is a threat to global stability, to our democratic societies, and to our collective security.

Illicit finance and corruption have been used deliberately to gain access and influence in the UK and countries across the globe, threatening our democratic institutions, our politics, and our polices.

We need to redouble our efforts to counter these threats. We must advocate for stronger transparency in our financial systems, investment in law enforcement capability, and cooperation internationally.

We should also be honest that we have been complacent in the past. Our priority is to take further domestic action to tackle corruption and illicit finance in all its forms.

Minister for Security, Tom Tugendhat, is overseeing the UK’s comprehensive response to the threat posed by illicit finance and corruption.

This response includes the Economic Crime and Corporate Transparency Act which is going through the Parliamentary process.

It will build on the Economic Crime (Transparency and Enforcement) Act, introduced in March 2022, to further bear down kleptocrats, criminals and terrorists the UK’s financial system.

The new bill also includes a reform of Companies House, which will prevent the abuse of limited partnerships. It will additionally provide powers to seize crypto assets more quickly and introduce to tackle money laundering.

The Security Minister said:

Illicit finance and corruption are a serious threat to global stability and our national security depends on taking decisive action.

This starts at home. The UK has put the strongest sanctions of any G20 country against Russia’s invasion of Ukraine.

Our new legislation, and the upcoming publication of our Anti-Corruption Strategy and UK Economic Crime Plan, means we will continue to take tough action against those who seek to threaten our way of life.

The threat posed by transnational corruption, however, requires a global response. The US National Security Advisor’s commitment at the conference to support important legislative change will strengthen anti-money laundering regulation in the US.

We need to continue to work on a bilateral and multilateral basis to protect our way of life.

09/12/2022