Tag: Press Release

PRESS RELEASE : National Insurance increase reversed [September 2022]
The press release issued by HM Treasury on 22 September 2022.
- April’s National Insurance increase to be reversed from November – delivering on key PM pledge to cut tax burden and promote economic growth
- Health and Social Care Levy will be cancelled through Bill introduced today – Chancellor has confirmed funding for health and social care services will be protected and will remain at the same level as if the Levy were in place
- Almost 28 million people will keep an extra £330 of their money on average next year, whilst 920,000 businesses are set to save almost £10,000 on average next year thanks to the change
Delivering on the Prime Minister’s pledge to slash taxes to help drive growth, scrapping the rise will reduce tax for 920,000 businesses by nearly £10,000 on average next year as they will no longer pay a higher level of employer National Insurance and can now invest the money as they choose.

The government will also cancel the planned Health and Social Care Levy – a separate tax which was coming into force in April 2023 to replace this year’s National Insurance rise. This will help almost 28 million people across the UK keep more of what they earn, worth an extra £330 on average in 2023-24, with an additional saving of around £135 on average this year.

The Health and Social Care Levy (Repeal) Bill, legislating for the tax change, has been introduced into the House today. As part of the cancellation of the Levy, The Chancellor is also set to confirm that the increases to dividend tax rates will be scrapped from April 2023 in his Growth Plan tomorrow. The increased dividend tax was introduced in April 2022 to ensure those who gained income from dividends contributed the same amount to help fund health and social care.

The Levy was expected to raise around £13 billion a year to fund health and social care. The Chancellor confirmed today that the funding for health and social care services will be maintained at the same level as if the Levy was in place, protecting the NHS through the winter and ensuring long-term investment in social care.

Chancellor of the Exchequer Kwasi Kwarteng said:

Taxing our way to prosperity has never worked. To raise living standards for all, we need to be unapologetic about growing our economy.

Cutting tax is crucial to this – and whether businesses reinvest freed-up cash into new machinery, lower prices on shop floors or increased staff wages, the reversal of the Levy will help them grow, whilst also allowing the British public to keep more of what they earn.

The previous government decided to raise National Insurance by 1.25 percentage points in April 2022 to fund health and social care. The rate was due to return to 2021-22 levels in April 2023, when a separate new 1.25% Health and Social Care Levy was due to take effect. Today’s legislation reverses the rise from earlier this year and cancels next year’s introduction of the Levy.

This is part of the government’s pro-growth agenda, backing business to invest, innovate and create jobs and helping raise living standards for everyone across the UK.

920,000 businesses will see a cut in National Insurance bills, with 20,000 taken out of paying National Insurance entirely due to the Employment Allowance, which rose in April 2022 from £4,000 to £5,000.

In particular, many small and medium businesses (SMEs) – who employ over 13 million people in the UK – will see a cut to their National Insurance bills. Next year this will be worth £4,200 on average for small businesses and £21,700 for medium sized firms who pay National Insurance. In total 905,000 micro, small and medium businesses will benefit from 2023-24.

National Insurance thresholds increased in July 2022 to lift 2.2 million of the poorest people in the UK out of paying the tax. The Chancellor has committed to retaining the level of these thresholds to support families. Taken together, the higher thresholds and the Levy reversal mean that almost 30 million people will be better off by an average of over £500 in 2023-24.

With immediate action pledged by the Prime Minister to maximise the cash benefit for people and businesses this year, the government is implementing the changes as soon as possible. Most employees will receive a cut to their National Insurance directly via payroll in their November pay, with some receiving it in December or January, depending on the complexity of their employer’s payroll software.

In addition, the Chancellor is expected to announce in his fiscal event tomorrow that the 1.25 percentage point increase to income tax on dividends announced alongside the Levy, and introduced in April 2022, will be reversed from April 2023. Those who pay tax on dividends will save an average of £345 next year. The reversal of the ‘dividend tax’ rise signals renewed support for entrepreneurs and investors as part of the government’s drive to grow the economy and improve the standard of life for families across the UK.

Overall funding for health and social care services will be maintained at the same level as if the Levy were in place, and the government will be doing this without a tax increase. The additional funding used to replace the expected revenue from the Levy will come from general taxation. The Chancellor is committed to reducing debt-to-GDP ratio over the medium-term and boosting growth, which will help sustainably fund public services.
September 23, 2022
PRESS RELEASE : The Retained EU Law (Revocation and Reform) Bill 2022 [September 2022]

The press release issued by the Department for Business, Energy and Industrial Strategy, on 22 September 2022.

On the 31st January, to mark the two-year anniversary of getting Brexit done, the Government set out its plans to bring forward the Retained EU Law (Revocation and Reform) Bill.

Retained EU Law is a category of domestic law created at the end of the transition period and consists of EU-derived legislation that was preserved in our domestic legal framework by the European Union (Withdrawal) Act 2018.

Retained EU Law was never intended to sit on the statute book indefinitely. The time is now right to end the special status of retained EU Law in the UK statute book on 31st December 2023. The Bill will abolish this special status and will enable the Government, via Parliament to amend more easily, repeal and replace retained EU Law. The Bill will also include a sunset date by which all remaining retained EU Law will either be repealed, or assimilated into UK domestic law. The sunset may be extended for specified pieces of retained EU Law until 2026.

The retained EU Law (Revocation and Reform) Bill is part of the Government’s commitment to put the UK statute book on a more sustainable footing. By ending the special status of retained EU Law, we will reclaim the sovereignty of Parliament, and restore primacy to Acts of Parliament.

Background

The Retained EU Law (Revocation and Reform) Bill is the culmination of a journey that began on 23rd June 2016 when more than 17 million citizens of the UK and Gibraltar voted for the UK to leave the European Union (EU).

Our approach to making the UK ‘the best regulated economy in the world’ is set out in the Benefits of Brexit document published in January 2022. This approach is supplemented by the reviews into the substance and status of retained EU law which commenced in September 2021. The Bill will provide the means for Government, via Parliament to update legislation in response to the outcome of the substance and status reviews.

From these reviews, also came the retained EU law dashboard, which is a catalogue of over 2,400 pieces of retained EU law across 300 unique policy areas and 21 sectors of the economy. It was published on the 22nd of June, as part of the Prime Minister’s promise to empower the public to scrutinise EU-derived law that remains on the UK statute book. The dashboard enables the public to hold the government to account on retained EU law reform.

Content of the Bill

Now that the Government has mapped where EU-derived legislation sits on the UK statute book, we are bringing forward this Bill in order to fully realise the opportunities of Brexit, and to support the unique culture of innovation in the UK.

To achieve this, the Bill will include the provisions outlined below.

Sunsetting Retained EU Law

The Bill will sunset the majority of retained EU law so that it expires on 31st December 2023. All retained EU law contained in domestic secondary legislation and retained direct EU legislation will expire on this date, unless otherwise preserved. Any retained EU law that remains in force after the sunset date will be assimilated in the domestic statute book, by the removal of the special EU law features previously attached to it. This means that the principle of the supremacy of EU law, general principles of EU law, and directly effective EU rights will also end on 31st December 2023. There is no place for EU law concepts in our statute book.

Before that date, Government departments and the devolved administrations will determine which retained EU law can expire, and which needs to be preserved and incorporated into domestic law. They will also decide if retained EU law needs to be codified as it is preserved, in order to preserve policy effects the Government intends to keep.

The Bill includes an extension mechanism for the sunset of specified pieces of retained EU law until 2026. Should it be required, this will allow departments additional time where necessary to assess whether some retained EU law should be preserved.

Ending of Supremacy of retained EU law from UK law by 2023

Currently, retained direct EU legislation takes priority over domestic UK legislation passed prior to the end of the Transition Period when they are incompatible. The Bill will reverse this order of priority, to reinstate domestic law as the highest form of law on the UK statute book. Where it is necessary to preserve the current hierarchy between domestic and EU legislation in specific circumstances, the Bill provides a power to amend the new order of priority to retain particular legislative effects

Assimilated law

Following the removal of the special features of EU law from retained EU law on 31st December 2023, any retained EU law that is preserved will become “assimilated law” to reflect that EU interpretive features no longer apply.

Facilitating Departures from Retained EU Case Law

The Bill will provide domestic courts with greater discretion to depart from retained case law. It will also provide new court procedures for UK and Devolved Law Officers to refer or intervene in cases regarding retained case law.

Modification of Retained EU Legislation

The Bill will downgrade the status of retained direct EU legislation for the purposes of the amendment. The Bill will also modify powers in other statutes, to facilitate their use to amend retained direct EU legislation in the same way they can be used on domestic secondary legislation. This will enable retained direct EU legislation to be amended more easily, with an appropriate level of scrutiny.

Powers relating to Retained EU Law

The Bill will create powers to make secondary legislation so that retained EU law can be amended, repealed and replaced more easily. The Bill also takes powers to specify, after the sunset, the body of law that will continue to apply in place of retained EU law, and how it should be interpreted. Using these powers, the Government will ensure that only regulation that is fit for purpose, and suited for the UK will remain on the statute book.

Business Impact Target

Having left the EU, the UK has an opportunity to reform its regulatory regime. The UK government published its consultation response to the ‘Reforming the Better Regulation Framework’ and is in the process of implementing the wider reforms outlined.

As part of these reforms, the Bill repeals the Business Impact Target (BIT). The replacement of the BIT, when combined with the other wider reforms, will ensure that regulation is fit for the UK economy, business and households, as well as the future.

Other Government Priorities

The Government will continue to deliver policies to stimulate business growth, innovation and job creation.

This Bill will also not undermine any existing Government enquiries or commitments, for example regarding the Government’s response to the Grenfell Tower tragedy. The Government remains committed to learning the lessons from the tragedy and delivering on building safety.

More generally, all required legislation relating to tax and retained EU law will be made via the Finance Bill (or subordinate tax legislation) which is usual and appropriate for tax provisions.The government will also introduce a bespoke legislative approach for retained EU law concerning VAT, excise, and customs duty in a future Finance Bill. This approach will revoke any remaining retained direct EU law that the government did not repeal in the Taxation (Cross-border) Trade Act 2018, and make clear that UK Acts of Parliament and subordinate legislation are supreme.

For further information, documents related to the Retained EU Law (Revocation and Reform) Bill can be found on the Parliament website.

September 23, 2022
PRESS RELEASE : HRC 51 – Statement for the Interactive Dialogue with the Commission of Human Experts on Ethiopia [September 2022]

The press release issued by the Foreign Office on 22 September 2022.

UK Human Rights Ambassador, Rita French, delivered a statement on the ongoing crisis in Ethiopia.

Thank you, Mr President.

The United Kingdom welcomes the Commission’s first report and their important work.

Since the conflict in northern Ethiopia began in November 2020, we have consistently called for three things.

First, for an immediate halt to the conflict, which has left over 13 million people in desperate need of humanitarian assistance. We are therefore extremely concerned by the return to war and the involvement once again of Eritrean forces, which will make finding a peaceful settlement more difficult.Second, for a negotiated political settlement between all sides, because it is clear that there is no prospect of a military solution. We welcome the Ethiopian Government’s public commitments to ending the conflict through dialogue, and the Tigray People’s Liberation Front’s willingness to begin peace talks. Now is the time for both parties to deliver on these commitments.
Lastly, we have repeatedly called for full, open and independent investigations into the appalling human rights violations and abuses committed by all sides. We welcome the conclusions of the Joint Investigation and the work of the Inter-Ministerial Task Force. The Commission’s work plays a vital role alongside these in ensuring accountability. We urge the Ethiopian Government to cooperate with the Commission, and to support the extension of its mandate.

Commissioners,

We would welcome your views on key priorities over the coming year, in the hope that your mandate is extended.

Thank you, Mr President.

September 23, 2022
PRESS RELEASE : Deadline extended on A47/A11 Thickthorn junction development consent order [September 2022]

The press release issued by the Department for Transport on 22 September 2022.

This statement confirms that it has been necessary to extend the deadline for a decision on the A47/A11 Thickthorn junction development consent order (DCO) made under the Planning Act due to the National Mourning period.

The DCO would authorise works for the improvement to Thickthorn junction and related works linking the A47 to the A11. The proposed development is situated within the administrative boundaries of Norfolk County Council and South Norfolk District Council.

The Secretary of State for Transport received the examining authority’s report on 20 June 2022 and the current deadline for a decision is 20 September 2022. The deadline is now extended to 14 October 2022.

Under section 107(1) of the Planning Act 2008, the Secretary of State must make her decision within 3 months of receipt of the examining authority’s report, unless exercising the power under section 107(3) to extend the deadline and make a statement to the House of Parliament announcing the new deadline.

The decision to set new deadlines is without prejudice to the decisions on whether to give development consent for the above applications.

September 22, 2022
PRESS RELEASE : Domestic tree seed production to be ramped up with new grant [September 2022]

The press release issued by the Department for Environment, Food and Rural Affairs on 22 September 2022.

Domestic tree seed production is to be ramped up with new Government funding announced today. The £1.2m Seed Sourcing Grant will boost domestic tree seed production, create green jobs, help meet the increased demand for trees and achieve our ambitious net zero targets.

The grant is designed to enhance the quantity, quality and diversity of tree seed sources in England. Most tree seed planted in the UK is of British origin, but evidence suggests that British seed sources may struggle to meet future demand across all species and there are known to be global shortages of tree seed. The grant will boost domestic tree seed production and support green jobs, helping meet the increased demand for trees and achieve our ambitious tree planting targets.

The Government has re-committed to its net zero targets, and new woodland and tree planting will contribute to those. The Seed Sourcing Grant will help to ensure the availability of planting stock to meet domestic tree planting needs.

The grant also aims to improve the diversity of England’s seed supply, for example by increasing the range of species and provenances available. This will be crucial for creating diverse and resilient woodlands, which are better able to adapt to future climate conditions as well as emerging pests and diseases.

Richard Stanford, Forestry Commission Chief Executive, said:
Seed sourcing is an essential part of tree production and one that can sometimes be overlooked. As planting rates increase, so too will the demand for tree seed.

This funding will give a vital boost to domestic tree seed production, helping to create diverse and thus resilient woodlands across our country. This will both help meet our ambitious tree planting targets and ensure the resilience of woodlands so they can thrive in the uncertain future.

The Seed Sourcing Grant will also reduce the need to buy seed from the international market, lowering the risk of importing harmful pests and pathogens.

Today’s announcement comes as the world’s leading authorities on plant health and biosecurity come together for the world’s first ever International Plant Health Conference to address current and future plant health challenges – including facilitating safe trade and new pest and disease pathways, such as e-commerce.

Nicola Spence, UK Chief Plant Health Officer, said:
Plant health and biosecurity are fundamental to life on Earth and ensuring their continued health and vitality will be critical to a thriving natural environment for future generations.

By increasing and diversifying England’s seed supply, this grant is crucial to help lower the risk of importing harmful pest and diseases by reducing the need to buy seed internationally and will create diverse and resilient woodlands which will be better adapted to future threats.

Eligible activities for the grant include:

Management of existing seed stands – the groups of trees in the landscape from which seed is collected – to ensure they are productive for seed collectors.
Desk studies and field studies to identify and bring additional seed stands onto the National Register of Basic material.
Planning and planting of new seed stands.
Planning and planting of new seed orchards – which are planted using seed or clonal material from known parents outside of the natural landscape in an area convenient for seed collectors.

Some activities will take time to implement, and so multi-year funding will be available up until March 2025.
The grant aims to attract a broad range of applicants, including both organisations already involved in these activities and those who have not previously considered seed sourcing.

September 22, 2022
PRESS RELEASE : Planned elections in Ukraine are a sham and invasion is failing – UK statement to the OSCE [September 2022]

The press release issued by the Foreign Office on 22 September 2022.

UK Ambassador Bush calls planned elections in Ukraine a charade, and part mobilisation admission that the invasion is failing.

Over these past months, we have seen the courage of the Ukrainian people; the adeptness of their military; and their unyielding commitment to their values under the most testing of circumstances. The United Kingdom is proud to call itself a partner – and a friend – of Ukraine.

The Ukrainian counter-offensive marks a new phase. But it is as solemn as it is welcome. To the international community, the Ukrainian flag symbolises bravery, freedom and democracy. To those in Izium, Balakliya, Kupyansk and the Kharkiv region, their national flag is not just a symbol – it is a lifeline. Because as the Ukrainian Armed Forces reclaim their territory, evidence emerges: reports of bodies showing signs of torture; reports of torture chambers; civilians, including children, amongst the dead. Beneath each wooden cross in Izium lies a human being, one who can no longer tell us what has happened to them. For the Ukrainian men, women and children whose stories will be told through post mortem, we promise justice.

Time and time again, Ukrainians have demonstrated the resilience needed to secure victory in their fight for peace. And yet President Putin falsely maintains that the Russian offensive in the Donbas remains on track. The world can see that he is lying. The Russian army, and the Russian leadership, is in panic mode. We see appalling acts of desperation: increased shelling of civilians and civilian infrastructure, including the dam at Karachunivske Reservoir and the Pivdennoukrainsk nuclear power plant at Mykolaiv. On 17 September, four medical workers were killed by shelling while attempting to evacuate their patients from a hospital in Strilecha, in Kharkivska Oblast. With Russian military actions in Bucha and Mariupol, we saw the very worst of humanity. By contrast, people like these Ukrainian medical workers, killed while saving lives, show us the best of it. We offer our deepest condolences to their families.

Meanwhile, President Putin’s proxies in the temporarily Russian controlled territories of Donetsk, Luhansk, Kherson and Zaporizhzhia Oblasts scramble to organise sham referenda – a pitiful charade. Let us be clear: we will never recognise any Russian attempts to purportedly annex part of Ukraine’s sovereign territory. These illegitimate referenda will not alter our approach. We will continue to support Ukraine’s right to defend its territory.

Putin’s sabre-rattling, and decision to mobilise parts of the Russian population is an admission that his invasion is failing. He continues to send tens of thousands of his own citizens to their deaths, ill equipped and badly led. We have seen reports overnight of over a thousand people arrested – another vicious assault on fundamental freedoms in Russia. And in Ukraine we have seen Russia’s deplorable attempts to replenish its ranks with convicts – qualified for little more than continuing the so-called “Special Military Operation” in the style in which it has been conducted thus far: with ineptitude and brutality. Ukraine must win; and we must ensure there is accountability and justice.

We join our partners in condemning the sentencing of Maxim Petrov and Dymtro Shabanov by an unrecognised and illegitimate court in the so-called Luhansk People’s Republic. As the OSCE Chair-in-Office and Secretary-General have repeatedly made clear, SMM national mission members were detained for simply performing their official duties – duties mandated by all 57 participating States. Russia is solely responsible for these actions, and we call for the immediate and unconditional release of our OSCE colleagues.

Indeed, the UK holds the Russian Federation responsible for the safety and welfare of all Prisoners of War and detained civilians in the non-Government controlled areas of Ukraine. 5 British Nationals and 5 other foreign nationals held by Russia-backed proxies are being safely returned. Russia must end the ruthless exploitation of prisoners of war and civilian detainees for political ends.

I join my Ukraine, US and EU colleagues in condemning the sentencing yesterday of the Deputy Leader of the Crimean Majlis Nariman Celâl, as well as Asan Akhmetov and Aziz Akhmetov. Mr Chair, we stand with Ukraine for the long haul, which is why my Prime Minister has vowed to match the UK’s 2022 military support to Ukraine in 2023. Russia must withdraw all of its troops from the entire territory of Ukraine, within its internationally recognised borders.

September 22, 2022
PRESS RELEASE : Mobile roaming cap to benefit Brits abroad in Norway and Iceland [September 2022]
The press release issued by the Department for International Trade on 22 September 2022.

The UK has marked the first meeting of the UK-EEA EFTA Joint Committee, by signing a decision to cap charges for using data and making calls and texts in Norway and Iceland.

The cap is a world-first in an FTA, keeping costs low for holidaymakers and business travellers to Norway and Iceland.

International Trade Minister Conor Burns MP said:

This news builds on the landmark trade agreement between the UK and Norway, Iceland and Liechtenstein, and is the first of its kind world-wide showing how the innovative trade deals we negotiate are bringing real benefits to British travellers.

I look forward to working with businesses across the UK to take advantage of deals that banish barriers, boost jobs and save money.

Our trade deal with Norway, Iceland and Liechtenstein signed last year aims to boost critical sectors like digital, financial, and professional business services, slash tariffs on top-quality British exports and support jobs in every corner of the UK.

The new FTA allows UK mobile operators to offer their customers surcharge-free mobile roaming in Norway and Iceland by creating a mechanism to cap the rates operators charges each other.

Background:
- Once this decision is in place, the UK will then implement secondary legislation which will be in place early next year. We will work with Mobile Operators to ensure that the savings secured from this cap are filtered down to consumers.
- Liechtenstein is not party to mobile roaming provisions due to their capacity. However, there is an option for this to be extended to them at a future date.
September 22, 2022
PRESS RELEASE : HRC 51 – UK Statement for the Interactive Dialogue with the Special Rapporteur on Myanmar [September 2022]

The press release issued by the Foreign Office on 22 September 2022.

UK Permanent Representative to the UN in Geneva, Ambassador Simon Manley, delivered a statement on the deteriorating situation in Myanmar.

Thank you, Mr President.

Thank you Special Rapporteur for your update yesterday afternoon.

We share your deep concern at the deteriorating human rights situation in Myanmar. I strongly condemn the junta’s human rights violations across the country. You, like others, have highlighted the truly horrific tactics, including mass killings, village burnings and indiscriminate airstrikes against civilians. The military’s recent attack on a school in Sagaing is utterly indefensible. There can be no justification for the killing of children and innocent civilians.

The regime’s executions of pro-democracy and opposition leaders in July were shameful acts that further demonstrate its casual disregard for human rights.

And we – like others – are concerned about the increased fighting in Rakhine State. Rohingya communities confined to camps and villages in Northern Rakhine risk being caught in the middle of the fighting.

Mr President, we stand with the brave people of Myanmar, and reiterate our call on the junta to end the violence now. Human rights violations and abuses must stop now. Civilians, including humanitarian workers, must be protected from violence by all parties. And we need unobstructed humanitarian access to reach Myanmar’s most vulnerable.

Special Rapporteur,

How can the international community better protect civilians in Myanmar?

September 22, 2022
PRESS RELEASE : UK government takes next steps to boost domestic energy production [September 2022]

The press release issued by the Department for Business, Energy and Industrial Strategy on 22 September 2022.

To bolster the UK’s energy security, the UK government has today lifted the moratorium on shale gas production in England, and confirmed its support for a new oil and gas licensing round, expected to be launched by the North Sea Transition Authority (NSTA) in early October.

In light of Putin’s illegal invasion of Ukraine and weaponisation of energy, the government is taking concrete steps to increase home-grown sources of energy, reduce the UK’s reliance of foreign imports, and explore all possible options to boost domestic energy security. To do so, it is appropriate to pursue all means for increasing UK oil and gas production, including through new oil and gas licences and shale gas extraction.

Business and Energy Secretary Jacob Rees-Mogg said:

In light of Putin’s illegal invasion of Ukraine and weaponisation of energy, strengthening our energy security is an absolute priority, and – as the Prime Minister said – we are going to ensure the UK is a net energy exporter by 2040.

To get there we will need to explore all avenues available to us through solar, wind, oil and gas production – so it’s right that we’ve lifted the pause to realise any potential sources of domestic gas.

The new licensing round is expected to lead to over 100 new licences, as previously announced by the Prime Minister, forming part of the government’s plans to accelerate domestic energy supply. Under the new licensing round, which follows the outcome of the Climate Compatibility Checkpoint, the NSTA is expected to make a number of new ‘blocks’ of the UK Continental Shelf available, for applicants to bid for licences.

These licences will enable developers to search for commercially viable oil and gas sources within the areas of their licences. Developers will still need to seek regulatory approval for any activities conducted within their licensed area, such as drilling or construction of infrastructure.

Increasing energy supplies with a new licensing round and lifting the moratorium on shale gas production will help boost the UK’s energy resilience, and help achieve the ambition to make the UK a net energy exporter by 2040.

The government is today formally lifting the pause on shale gas extraction and will consider future applications for Hydraulic Fracturing Consent with the domestic and global need for gas in mind and where there is local support. Developers will need to have the necessary licences, permissions and consents in place before they can commence operations.

The decision comes alongside the publication of the British Geological Survey’s scientific review into shale gas extraction, which was commissioned earlier this year. The review recognised that we have limited current understanding of UK geology and onshore shale resources, and the challenges of modelling geological activity in relatively complex geology sometimes found in UK shale locations.

There have only been 3 test wells which have been hydraulically fractured in the UK to date. It is clear that we need more sites drilled in order to gather better data and improve the evidence base and we are aware that some developers are keen to assist with this process.

Lifting the pause on shale gas extraction will enable drilling to gather this further data, building an understanding of UK shale gas resources and how we can safely carry out shale gas extraction in the UK where there is local support.

We are scaling up renewables, nuclear, and lower carbon energy sources, to boost Britain’s energy security in the long term, and reduce our exposure to high fossil fuel prices set by global markets outside our control. However, there will continue to be ongoing demand for oil and gas over the coming years during this transition, with oil and gas needed to maintain the security of the UK’s energy supply. Making the most of our own domestic resources under the North Sea will make us less dependent on foreign imports.

September 22, 2022
PRESS RELEASE : UK tech companies eye Singapore as gateway for regional expansion [September 2022]

The press release issued by the Foreign Office on 22 September 2022.

21 September 2022, Singapore – This week Singapore hosts a major delegation of 24 cutting-edge British companies exploring growth opportunities in Asia Pacific. They work on diverse projects including driverless vehicles, lawtech, cybersecurity and deeptech.

They are spending a week in Singapore hosted by the British High Commission and will engage with Singapore Government agencies including the Cyber Security Agency; Defence Science and Technology Agency; GovTech; the Infocomm Media Development Authority and the Ministry of Law.

These activities form the first UK-Singapore Digital Economy Dialogue, a forum to promote the benefits of digital trade, deepen our partnerships at both the government and business levels, and ensure that regulation keeps up with the pace of innovation.

The visiting companies intend to use the all-new UK-Singapore Digital Economy Agreement (DEA) to support their expansion into Asia Pacific.

The DEA is the most innovative trade agreement in the world, and is the first Digital Economy Agreement between a European nation and an Asian one. UK-Singapore trade is already worth over £17bn per year.

Tech Nation, the UK’s leading growth platform for tech companies, is co-leading this week by organising a delegation and creating a programme of 90 meetings with corporate partners and investors.

Lawtech: a bright spot for future growth

Ten lawtech companies are visiting Singapore from the UK to explore business opportunities in Asia Pacific.

‘Lawtech’ is commonly used to describe technologies that support, supplement or replace traditional methods for the delivery of legal services or legal transactions by law practice entities or lawyers.

The UK-Singapore Digital Economy Agreement is the first trade agreement in the world to contain specific commitments on lawtech. The UK’s lawtech sector is valued at £11.4bn, according to Tech Nation research. The UK has the largest legal services market in Europe – and is second globally only to the US.

The DEA brings together two leading nations on legal services, and will help firms identify collaboration opportunities in both markets more easily.

It has specific provisions that promote electronic contracts and signatures; secure international data flows; and ensure protection of key proprietary information.

The DEA gives businesses greater confidence and assurance about the rules of the road when it comes to trading digitally between the UK and Singapore, both now and in the future.

Kara Owen, British High Commissioner to Singapore said:

I am excited to host 24 UK tech companies at the British High Commission, Singapore. They are keen to use the all-new UK-Singapore Digital Economy Agreement to support their expansion into Singapore and the region.

The agreement is a marker of our ambition to break down trade barriers in areas including lawtech, data flows and cyber security. UK-Singapore trade is already worth over £17 billion per year, and this is only set to grow.

Natalie Black, His Majesty’s Trade Commissioner for Asia Pacific said:

I am delighted to welcome a cohort of cutting-edge UK tech companies to Singapore to meet new partners, customers and investors and identify growth opportunities in the region.

Singapore is a gateway to the rest of Southeast Asia, which has a digital economy projected to reach $1 trillion by 2030. The region has the demographics and openness that scaleups are looking for.

Our UK-Singapore Digital Economy Agreement will make the most of this opportunity – bringing together two high tech nations in a living agreement that keeps up with the pace of digital innovation.

Gabriel Lim, Permanent Secretary (Trade and Industry), Ministry of Trade and Industry, Singapore Government, said:

We welcome the visit of UK tech startups to Singapore, in conjunction with the inaugural Digital Economy Dialogue under the UK-Singapore Digital Economy Agreement. This is an opportunity to bring together industry stakeholders to explore how we can leverage this cutting-edge agreement and help our businesses, especially startups and SMEs, to seize new growth opportunities across our combined and growing digital markets.

Samantha Evans, Director of International at Tech Nation said:

Tech Nation are thrilled to be bringing the third cohort of leading UK tech companies on our International Growth Programme to Singapore. While here, the companies will be meeting with over 90 corporates and investors as they look for partnerships and opportunities to land and expand into this exciting market.

As part of the UK government’s Digital Trade Network, we have already supported over 300 UK tech scaleups derisk and accelerate their growth into Asia Pacific – with the majority looking to scale into Singapore first.

Given the demand from British tech to grow into this region, we look forward to continuing our work with the UK and Singaporean governments to support even more scaleups with their success here.

September 22, 2022