Tag: Press Release

PRESS RELEASE : New support for semiconductor firms to grow, powering growth in £10 billion UK industry [September 2024]
The press release issued by the Department for Science, Innovation and Technology on 26 September 2024.

Support for semiconductor scale-ups announced as Lord Vallance kicks off a stakeholder forum ahead of the G7 Semiconductors Points of Contact group in Cambridge.
- Science Minister Lord Vallance unveils new support for UK semiconductor scale-ups to advance innovations, from phone screens to medical tech
- Support to help businesses grow unveiled as Minister welcomes leading tech nations to a stakeholder forum preceding the G7 Semiconductors Points of Contact group in Cambridge
- Comes as new report finds rapidly growing UK semiconductor industry valued at nearly £10 billion and expected to rise this decade
UK semiconductor firms producing vital technology from phone screens to surgical lasers are being backed in their efforts to scale up into large businesses and drive economic growth.

The science Minister Lord Patrick Vallance has announced the 16 projects that will win a share of a £11.5 million pot – provided by Innovate UK – that will help drive innovation, as he opened an industry conference of G7 nations today (Thursday 26 September).

Pioneering projects across the country will help take the UK’s thriving semiconductor industry to the next level as it further enhances everyday life – from more efficient medical devices to energy saving phone screens – and kickstart economic growth.

This comes shortly before the Government’s International Investment Summit which will showcase the UK as a place to do business. Today’s move is yet another reason for business to choose the UK as a place to invest – as it is backing the industries of the future.

A new report by Perspective Economics reveals the UK semiconductor sector, which includes over 200 companies in research, design, and manufacturing, is valued at almost £10 billion and could grow up to £17 billion by 2030.

Semiconductors are small chips at the core of everyday technology from smartphones to renewable energy systems and this support will help to scale up domestic manufacturing and strengthen supply chain resilience, so the UK is fit for the future in a global industry.

The funding comes as the G7 Semiconductors Point of Contact group kicks off with a stakeholder forum at major UK tech company Arm’s HQ in Cambridge, where member states, research organisations, and industry representatives are discussing key issues affecting the global semiconductor industry, like supporting early-stage innovation and sustainability.

Science Minister, Lord Vallance, said:

Semiconductors are an unseen but vital component in so many of the technologies we rely on in our lives and backing UK innovators offers a real opportunity to growth these firms into industry leaders, strengthening our £10 billion sector and ensuring it drives economic growth.

Our support in these projects will promote critical breakthroughs such as more efficient medical devices that could significantly lower costs and faster manufacturing processes to improve productivity.

Hosting the G7 semiconductors Points of Contact group is also a chance to showcase the UK’s competitive and growing sector and make clear our commitment to keeping the UK at the forefront of advancing technology.

Among the funded projects, receiving a share of £11.5 million, is Vector Photonics Limited in collaboration with the University of Glasgow, which aims to enhance the power and cost-effectiveness of blue light lasers in everyday technology by using gallium nitride, a high-performance material. Blue lasers are key in devices like medical equipment, quantum displays and car headlights.

Another project, led by Quantum Advanced Solutions Ltd with the University of Cambridge, is developing advanced shortwave infrared (SWIR) sensors which improve vision in critical sectors like defence, by supporting surveillance in challenging conditions in low-visibility environments, such as during adverse weather conditions or atmospheric disturbances. The project looks to simplify production using innovative quantum dot materials – tiny semiconductor particles that emit light at specific wavelengths – offering higher sensitivity and performance, cutting costs and making this advanced technology more accessible to multiple sectors including manufacturing and healthcare.

Andrew Tyrer, Deputy Director, Electronics, Sensors and Photonics, Innovate UK, said:

Innovate UK’s investment in this programme directly supports the National Semiconductor Strategy launched in 2023 and aims to ensure the UK’s place in the global landscape.

Iain Mauchline Innovation Lead – Electronics, Sensors, and Photonics at Innovate UK, added:

It has been recognised that semiconductors are key enablers for the UK ambitions across all critical technology areas. Funding these diverse projects highlights the strengths and depth of the UK’s semiconductor ecosystem.

The G7 Semiconductors Point of Contact Group, established under Italy’s G7 Presidency earlier this year, continues its mission to address issues impacting the semiconductor industry, including early-stage innovation, crisis coordination, sustainability, and the impact of government policies and practices.

Rene Haas, CEO, Arm said:

It is an honour to host the stakeholder forum ahead of the G7 Semiconductors Points of Contact group at Arm’s global headquarters in Cambridge to advance collective efforts from industry, research organizations, and governments to increase supply chain resilience, security, and energy efficiency. We look forward to continued partnership with the G7 representatives and the UK government as we work to enable innovation and realize the full potential of AI.

This meeting immediately follows the OECD Semiconductor Informal Exchange Network gathering, where countries and stakeholders shared strategies for strengthening global semiconductor supply chains and addressing shared challenges in the semiconductor industry.

The UK is playing a key role in the OECD’s efforts to unite government and industry in navigating the complexities of the global chip supply chain.

Charles Sturman, CEO of TechWorks said:

This report represents the first detailed economic study of the UK Semiconductor sector in many years. I am proud to have been part of this important work and pleased with the results. Key findings here show that the UK already sees significant revenue from the sector and, by building on strong innovation, we can see significant opportunity to increase this together with our ~2% share of global semiconductor revenues; ultimately creating much more than the 86,000 jobs currently in the wider economy. The industry is set to grow rapidly in the next decade and the right mix of scale-up support and industrial policy can secure future growth of the UK semiconductor sector.
October 21, 2024
PRESS RELEASE : UK constrains Russia’s future Liquified Natural Gas plans [September 2024]
The press release issued by the Foreign Office on 26 September 2024.
- the UK has sanctioned 5 ships and 2 entities involved in the Russian Liquified Natural Gas (LNG) sector
- this is the first time the UK is using its new ship specification power to target LNG vessels directly
- today’s action builds on efforts alongside allies to bear down on Russia’s attempts to bolster its future energy revenues – the most critical source of funding for Putin’s war in Ukraine
The UK has today, 26 September, taken decisive action to sanction 5 vessels and 2 associated entities involved in the shipping of Russian LNG, including from Russia’s flagship Arctic LNG 2 project.

LNG is an important source of funding for Putin’s illegal war in Ukraine. Russia has plans to expand its LNG revenues, aiming to grow their global LNG market share from 8% to 20%.

Earlier this year, the UK sanctioned Arctic LNG 2, alongside our allies in the US and EU. Since then, the project has been forced to slash production. Today’s action builds on this by targeting ships and entities involved in the Russian LNG sector, which engage with projects important to Russia’s future energy production.

The UK has now sanctioned 15 vessels and entities involved in the Russian LNG sector and we will continue to bear down on this important source of funding for Putin’s illegal war in Ukraine.

The vessels sanctioned today are:
- PIONEER (IMO 9256602)
- ASYA ENERGY (IMO 9216298)
- NOVA ENERGY (IMO 9324277)
- NORTH SKY (IMO 9953523)
- SCF LA PEROUSE (IMO 9849887)
We are also sanctioning the following entities associated with the vessels:
- OCEAN SPEEDSTAR SOLUTIONS OPC – The operator and manager of PIONEER and ASYA ENERGY.
- WHITE FOX SHIP MANAGEMENT – The operator and manager of NORTH SKY
October 21, 2024
PRESS RELEASE : Zombie-style knives banned [September 2024]

The press release issued by the Home Office on 25 September 2024.

Zombie-style knives and machetes have this week (24 September) been added to the list of prohibited weapons in the Criminal Justice Act 1988 as the government cracks down on dangerous weapons with no legitimate purpose.

‘Zombie-style’ is the street name given to weapons which are over 8 inches in length and often have a serrated edge, spikes or more than 2 sharp points. A full list of the features of these knives can be found in the guidance for surrender of ‘zombie-style’ knives and ‘zombie-style’ machetes.

NPCC lead for knife crime, Commander Stephen Clayman said:

Tackling knife crime requires all agencies and partners working together, approaching this from a number of different perspectives. Dealing with the accessibility of deadly and intimidating weapons is key and we are doing all we can to reduce how easily they can end up in the wrong hands. Many of these ‘zombie-style’ knives and machetes are clearly designed to intimidate and cause harm, rather than serve any practical purpose, so the ban will support us by significantly stopping their manufacture and overall availability.

Our fight to remove knife crime from our communities has been further strengthened with the government’s recent announcements and I look forward to leading an end-to-end review of online knife sales. This is just part of the ongoing work and we will continue to work in close partnership with the Home Office, retailers and the third sector to find ways we can bring meaningful, long-term change that will make our streets safer for everyone.

This is just one of a package of measures being introduced by the government to halve knife crime in a decade. Earlier this month, the government announced that legislation is underway to ban ninja swords and it has also commissioned the largest ever review into how knives are sold online to identify any gaps in legislation which will prevent these being sold illegally to under-18s.

The Coalition to Tackle Knife Crime has also been launched, bringing together campaign groups, families of people who have tragically lost their lives to knife crime, young people who have been impacted and community leaders, united in their mission to save lives and make Britain a safer place for the next generation.

From 24 September, anyone caught with a zombie-style knife or machete could face time behind bars.

The ban on zombie-style knives comes at the end of a Home Office run surrender scheme which allowed members of the public to hand in these types of weapons, and those who wished to do so were eligible for compensation. This scheme ended on 23 September and anyone still in possession of these weapons should safely hand them into their local police station or local surrender bin immediately.

October 21, 2024
PRESS RELEASE : Scottish Secretary reacts to GDP for July 2024 [September 2024]
The press release issued by the Scottish Office on 25 September 2024.

Ian Murray says difficult short-term decisions must be made for long-term gain.

The latest Scottish GDP stats are published here this morning for the month of July.

Scottish Secretary Ian Murray says that although the 0.3% growth for the month is encouraging, tough short-term decisions are still required for long-term improvement.

He said:

Economic growth is one of the key missions of the UK Government and Scotland is at the heart of that, as the Prime Minister underlined yesterday when he confirmed that GB Energy will be headquartered in Aberdeen. Backed by £8.3bn of UK Government investment, it will bring jobs and opportunity for all parts of the UK.

We inherited a dire fiscal situation from the previous government, as well as an industrial one, and that requires tough decisions that are hard in the short term, but the right thing for the country in the long term.

Right now, we are making work pay, ensuring the national minimum wage is a true living wage, and we’re ending exploitative zero-hours contracts so workers have increased job security. At next month’s International Investment Summit, we will forge stronger links with our global business partners, all to achieve the growth that’s vital for economic stability.

Background
- Scotland’s onshore GDP is estimated to have grown by 0.3% in July. This follows 0.0% change in June (revised up from -0.3%).
- In the three months to July GDP is estimated to have grown by 0.3%. This is a decrease compared to the Quarter 2 (April to June) growth rate of 0.6%.
October 21, 2024
PRESS RELEASE : The Kremlin could never have envisaged how war in Ukraine is developing – UK statement to the OSCE [September 2024]

The press release issued by the Foreign Office on 25 September 2024.

UK military advisor, Nicholas Aucott, says the military situation is markedly different to what many expected two and a half years ago and this is a testament to the bravery and fortitude of the Ukrainian people.

Thank you, Mr Chair. The present situation in the ongoing conflict between Russia and Ukraine is one that the Kremlin could hardly have envisaged when it embarked on its devastating war of aggression.

Russia boasted that Ukraine would be defeated in a three-day lightning war, yet today marks two years and 219 days of this conflict. Ukraine now controls Russian territory in the Kursk Oblast. This is the first time that Russian territory has been held since the Second World War. We should be clear: this is a direct consequence of Russia’s illegal invasion and entirely consistent with Ukraine’s right to self-defence. To try and tackle this situation of its own making, Russia has been launching 50% of its glide bombs at its own territory, and on the neighbouring Sumy region of Ukraine.

Since we met last week, on the evening of 17-18 September Ukraine conducted a successful attack on the Toropets strategic ammunition depot. Renovated in 2018, this was one of Russia’s largest strategic ammunition depots supporting Russia’s operation in Ukraine and housing ammunition of varying calibres, including ammunition procured from the DPRK.

The resulting explosion recorded 2.7 on the Richter scale, equivalent to a mild earthquake. It forced Russia to declare a state of emergency, with the resulting fires 6 km wide and detectable from space. This was followed on 21 September by additional successful strikes on depots again in Toropets, and in Tikhoretsk. These Ukrainian strikes mark significant strategic setbacks for the Kremlin. The level of losses accounts for months of Russian ammunition expenditure rates.

Moreover, Russia continues its attacks on Ukrainian civilian and energy infrastructure in an attempt to try and break the will of the Ukrainian people. Strikes in Ukraine’s central region of Poltava cut power to 20 settlements, whilst in Zaporizhzhia Oblast, an attack on Monday killed at least one person and injured seven, amongst them a 13 year old girl and a 15 year old boy.

The military situation is markedly different to what many expected two and a half years ago and this is a testament to the bravery and fortitude of the Ukrainian people. But it is also critical that Ukraine continues to receive the support of allies and partners, diplomatically and militarily. The Kremlin would like to portray such support as a western conspiracy. But the reality is that the Russian state isolated itself from the moment it instigated an unprovoked, premeditated and barbaric attack against a sovereign democratic state. Furthermore, Russia has contravened international law and misled this Forum completely.

The United Kingdom’s support to Ukraine is ironclad. To date the UK’s total military, economic and humanitarian support for Ukraine amounts to £12.8 billion, which includes £7.8 billion in military support. £3 billion in military aid has been pledged to Ukraine in 2024-25, a £700 million increase on 2023-24.

The gap between Russia’s expectation of a three-day operation and the 943-day reality continues to grow. The Russian state has a clear path to prevent this metric from diverging further. It must cease hostilities and withdraw from Ukraine’s internationally recognised borders. The United Kingdom, alongside its partners, will continue in its enduring support for Ukraine’s independence, sovereignty and territorial integrity. Thank you.

October 20, 2024
PRESS RELEASE : Crack down on late payments in major support package for small businesses [September 2024]
The press release issued by the Department for Business and Trade on 25 September 2024.

New package of measures aimed at tackling scourge of late payments.
- New Fair Payment Code and fresh rules on company reporting and major consultation unveiled as part of package to tackle late payments
- Scourge of late payments costs SMEs £22,000 a year with 56 million hours of lost productivity, according to Intuit Quickbooks, across the economy – acting as a major brake on growth
- Comes as Business Secretary set to visit food and drink businesses in Manchester struggling with late payments
The government has unveiled new measures today to support small businesses and the self-employed by tackling the scourge of late payments, which according to the Smart Data Foundry is costing SMEs £22,000 a year on average and according to FSB research, leads to 50,000 business closures a year.

The government will consult on tough new laws which will hold larger firms to account and get cash flowing back into businesses – helping deliver our mission to grow the economy.

In addition, new legislation being brought in the coming weeks will require all large businesses to include payment reporting in their annual reports – putting the onus on them to provide clarity in their annual reports about how they treat small firms. This will mean company boards and international investors will be able to see how firms are operating.

Enforcement will also be stepped up on the existing late payment performance reporting regulations which require large companies to report their payment performance twice yearly on GOV.UK.

Under current laws, responsible directors at non-compliant companies who don’t report their payment practices could face criminal prosecutions including potentially unlimited fines and criminal records.

The consultation which will be launched in the coming months, will also consider a range of further policy measures that could help address poor payment practices.

FSB research shows that every quarter in 2022, 52% of SMEs small firms in the UK suffer from late payments, meaning roughly 2.8 million small firms face this issue, with the Federation of Small Businesses describing it as one of the biggest problems facing SMEs.

Late payments are just one element of the problem, with some SMEs forced to wait months for contracts to be fulfilled and some are even forced to take out loans against their own homes to manage cash flow.

Cracking down on late payments will unlock growth for 5.5 million small firms by enabling them to invest their time hiring more employees, boosting wages, and exporting around the world, rather than chasing down late payments.

The Business Secretary will hold a joint call with the Federation of Small Businesses later today to outline to SME leaders the work the Department will undertake to put in place tough new laws to end bad payment culture. New proposals, subject to consultation, will be bought forward on audit and audit committees, in order to help rebuild small businesses’ trust that they will be paid on time and to deliver on Labour’s manifesto commitment to tackle late payments.

Prime Minister Keir Starmer said:

We’re determined to back small businesses by unlocking their barriers to growth, and stamping out late payments is at the heart of this.

We know how important it is for business owners to have the peace of mind and certainty around their cashflow to keep their businesses alive. Late payments cost businesses tens of thousands of pounds and is one of the biggest reasons businesses collapse.

After years of delay, we’re bringing forward measures that small businesses have long been calling for to tackle late payments once and for all.

Business Secretary Jonathan Reynolds said:

Late payments are simply unacceptable and this government is determined to level the playing field for small business. When the cashflow runs dry, small firms go under which is why we need to hold larger business to account with their payment practices and foster an environment that supports growth and jobs.

Slashing trade barriers, reforming business rates, getting more SMEs exporting – this government is committed to small firms. We know there’s a lot more to be done, but today we are calling time on late payers once and for all.

A new Fair Payment Code has also been announced today replacing the old Prompt Payment Code, and will be open to signatories this autumn. Businesses will need to prove they have met good payment standards before being awarded official code status.

This will be designed to push businesses to pay faster more often, to be awarded either gold, silver or bronze status. The Code will also shine a light on those responsible businesses doing the right thing by their suppliers and small firms.

It comes as part of our wider work to support SMEs to help go for growth with reform to business rates, getting more small firms exporting and our new industrial strategy. The Secretary of State and Small Business Minister Gareth Thomas will discuss the new measures with small businesses later today.

Small Business Minister Gareth Thomas said:

Small businesses deserve to be paid on time, it’s as simple as that. I’m optimistic that today’s first big step will help pave the way for real change that supports SMEs to thrive and help to grow our economy.

New research published by the Department for Business and Trade has found payment problems multiply the further down the supply chain you go. With delays to payments increasing with each business along a supply chain, this results in smaller businesses generally experiencing more issues with late invoices than larger firms.

These new findings underpin the need to move quickly to crack down on late payments. The research also found that there was a clear imbalance between big and small firms, and that administrative errors are a major factor in creating slow payments with 24% of firms saying that invoices being incorrectly handled added to delays.

The government will work closely with small and large businesses as well as groups such as FSB and Enterprise Nation to discuss what further measures can be considered to crack down on late payments while ensuring we strike the right balance and avoid excessive burdens on businesses.

Tina McKenzie, Policy Chair at the Federation of Small Businesses (FSB), said:

This is what real change looks like. Listening to small firms and prioritising action to tear down each and every barrier to growth.

The Business Secretary has clearly recognised the importance of eradicating bad payment culture, which so devastates the UK supplier base and holds back growth. This series of actions today – including the crucial steps being taken to deliver on Jonathan Reynolds’ commitment on audit committees – shows the Government is rightly focused on delivery and working in partnership with the business community.

There will be so many decisions the Government needs to get right, early – an actively pro-small business budget, a good industrial strategy and tackling late payment. Announcing this programme of work today is a huge confidence boost for the small business community and a clear signal the new Government intends to stand up for small firms.

The Small Business Commissioner, Liz Barclay, said:

I am delighted to announce a new Fair Payment Code will be launched this autumn. The new code will reward businesses that treat their suppliers fairly and pay them quickly. It will also include an ambitious new Gold Award which aims to make 30-day payments the new standard for which businesses can aim.

We need sustainable, resilient businesses at all levels of the supply chains, to achieve the growth the economy needs. That means paying everyone from the largest supplier to the sole trader quicker, so they have the confidence to invest, improve productivity and grow. Fair payment terms and on time payments are the key.

Steve Hare, CEO of Sage, said:

Late payments continue to challenge small and medium-sized businesses, affecting cash flow and growth. The UK Government’s new measures are all positive and show a strong commitment to addressing this issue. We must also focus on technological solutions. E-invoicing, for instance, already used in other countries, reduces late payments by 20% and processing times by 44%, saving small companies an average of £11,300 annually.

Oliver Lloyd-Taylor, Founder of Black Milk, which has a Manchester-based café and sells award-winning pistachio & hazelnut spreads, said:

As a company we have experienced firsthand the sequential impact of late payments to our daily cash flow – which has, at times, lead us to be late with payments ourselves. We welcome the steps that the Government is making today to help protect small businesses, especially safeguarding them from larger businesses being able to utilise smaller businesses as an overdraft facility.”

Kenny Goodman, co-founder of drinks company Hip Pop said:

Late payments can significantly impact small businesses like ours, especially when it comes to maintaining strong relationships with our suppliers. When we’re paid on time, we can ensure we do the same for those we work with, which is vital to keeping everything running smoothly.

Terry Corby, Founder & CEO of campaign group Good Business Pays said:

On the same day that Good Business Pays published our Autumn 2024 Watchlist of Late & Slow Paying companies, it’s encouraging to see these new late payment measures being announced.

Only reputational pressure from organisations like Good Business Pays, supported with appropriate legislation and enforcement from government, will force a change in late payment behaviour. These new measures announced today will go some way to help drive that culture change.
October 20, 2024
PRESS RELEASE : School-based nurseries funding round to launch next month [September 2024]

The press release issued by the Department for Education on 25 September 2024.

The first stage of the government’s plan to deliver 3,000 nurseries by upgrading spare spaces in primary schools will begin next month, Education Secretary Bridget Phillipson announced today.

From next month, schools will be invited to bid for a share of £15 million capital funding, with capacity in the programme to deliver up to 300 new or expanded nurseries in this first round.

Schools will need to demonstrate how their proposals will respond to need in their local area, supporting the 2025 expansion of government-funded hours of childcare and early education for working parents to 30 hours a week.

Funding will be allocated to successful schools in Spring 2025 to support delivery for the first cohort of places.

This is the first step to delivering the government’s ambition for 3,000 new nurseries in primary schools, and long-term plan to make early years education and childcare more widely available, accessible, and high quality.

Currently, availability of early years provision is not evenly distributed across the country, with the most disadvantaged areas often experiencing the lowest access to provision.

To ensure the programme is delivered in a way that will benefit all parents and children, the department will use the first phase to take learnings for future years and better understand how we can best support underserved and poorer areas.

Schools will be able to express interest for future phases of the programme to help assess demand in different parts of the country, and the department will engage with the sector on the most appropriate model to extend the programme across the country in its second phase.

The government has urged schools interested in bidding for the first round to start discussing with their local authorities, governing organisations and wider stakeholders to consider pupil place planning, local childcare sufficiency and next steps for setting up and running new or expanded nurseries.

Guidance to support schools will be issued at the date of launch.

October 20, 2024
PRESS RELEASE : ‘National conversation’ on curriculum begins [September 2024]

The press release issued by the Department for Education on 25 September 2024.

Professor Becky Francis has launched a call for evidence seeking views on the current curriculum and assessment system to help shape the future of education.

Young people, parents, employers and education staff, leaders and experts are being invited to take part in a ‘national conversation’ about how the curriculum and assessment system can better prepare young people for life and work, as a call for evidence is launched today (25 September).

The 8-week consultation aims to bring everyone into the conversation about what’s working well and what could work better in the curriculum and marks the next step in the government’s independent review.

Responses will be invaluable in shaping the direction of the review and pivotal to the recommendations Professor Becky Francis and her expert panel put forward in 2025.

Today’s call for evidence covers a range of specific areas, including how best to provide an excellent foundation in English and maths, support for children from socioeconomically disadvantaged backgrounds, and access to a broad and balanced curriculum.

The review will also take written and oral evidence from key stakeholders, alongside a series of regional engagement events from mid-October to meet and take input from young people and staff on the frontline.

Spanning from key stages 1 to 4 and 16 to 19 education, the review will look closely at the key challenges to attainment for young people, and the barriers which hold children back from the opportunities and life chances they deserve – in particular those who are socio-economically disadvantaged, or with special educational needs or disability (SEND).

Professor Becky Francis said:

The curriculum belongs to the nation. And especially, it must work for the young people who follow it, and the teachers and lecturers that communicate it.

As such, it’s imperative that we hear perspectives and evidence from as wide a range of people as possible including children, young people, parents, education professionals and other stakeholders.

The launch of our call for evidence today enables that. And we have sought to keep questions broad and wide-ranging, to enable people to have their say.

There is much that is working in the present curriculum, but this is a chance to refresh, to address areas which aren’t working well, and to ensure excellence for all. I hope as many as possible will respond and I look forward to reading the responses.

The review will look at ensuring all young people aged 16 to 19 have access to rigorous and high-value qualifications and training that will give them the skills they need to seize opportunity, as well as ensuring they are ready for the changing workplace.

It will also look at whether the current assessment system can be improved for both young people and staff, while protecting the important role of examinations. Following the review, all state schools – including academies which currently do not have to follow the national curriculum – will be required by law to teach the national curriculum up to age 16, giving parents certainty over their children’s education.

The Improving the curriculum and assessment call for evidence runs from 25 September to 22 November 2024.

October 20, 2024
PRESS RELEASE : Keir Starmer meeting with President Zelenskyy of Ukraine [September 2024]

The press release issued by 10 Downing Street on 25 September 2024.

The Prime Minister met Ukrainian President Volodymyr Zelenskyy at UNGA this afternoon.

The two leaders had a productive meeting, with the Prime Minister paying tribute to the continued courage of the Ukrainian people in the face of Russian aggression.

The Prime Minister acknowledged that Ukraine is at a critical point in the war, but he reiterated the UK’s support is ironclad and will continue for as long as it takes.

President Zelenskyy set out his ambitions for the coming months and thanked the Prime Minister for the UK’s continued backing.

They agreed to keep in close contact in the coming weeks.

October 20, 2024
PRESS RELEASE : Prime Minister tells US investors “Britain is open for business” as he secured major £10 billion deal to drive growth and create jobs [September 2024]
The press release issued by 10 Downing Street on 25 September 2024.

A major £10 billion investment which will create thousands of jobs in the North East of England has been announced by the Prime Minister in New York today.
- Major U.S. company Blackstone has confirmed a £10 billion investment in the North East of England to create one of the largest artificial intelligence data centres in Europe
- Move will create 4,000 jobs for British people and benefit the local community in Blyth
- Prime Minister continues his international drive to boost the UK’s reputation on the global stage, unlock new opportunities to drive growth at home and improve the lives of British people
A major £10 billion investment which will create thousands of jobs in the North East of England has been announced by the Prime Minister in New York today.

The deal with US investment company Blackstone, facilitated by the Office for Investment, will create the biggest AI data centre in Europe, boosting the UK’s world leading capabilities in the AI sector and driving growth in the local community.

Over 4,000 jobs will be created as a result, including 1,200 roles dedicated to the construction of the site in Blyth, Northumberland. Construction on the site is expected to begin next year, with the data centres set to store the vast amount of data needed to power AI, and to store the information generated by AI systems.

The Prime Minister’s number one mission for government is economic growth, and foreign investment will be a key part of driving it – by creating jobs which will put money into the pockets of hard-working British people.

The local community in Blyth – which suffered as a result of the failure of BritishVolt – will also directly benefit from the investment, with Blackstone confirming it will invest £110 million into a fund – supporting further skills training and transport infrastructure in the area.

The UK is already home to the highest number of data centres in Western Europe and just last month, the government classed data centres as ‘Critical National Infrastructure’ in the first designation in almost a decade to provide greater reassurance to businesses that the UK is a secure place to invest in and develop data centres.

Prime Minister Keir Starmer said:

The number one mission of my government is to grow our economy, so that hard-working British people reap the benefits – and more foreign investment is a crucial part of that plan.

New investment such as the one we’ve announced with Blackstone today is a huge vote of confidence in the UK and it proves that Britain is back as a major player on the global stage and we’re open for business.

Jon Gray, President and Chief Operating Officer of Blackstone, said:

The UK is a top investment market for Blackstone because of its powerful combination of talent and innovation along with a highly transparent legal system. We are making significant commitments to building social housing, facilitating the energy transition, growing life sciences companies and developing critical infrastructure needed to fuel the digital economy. This includes a projected £10 billion investment to build one of Europe’s largest hyperscale data centres supporting 4,000 jobs. Blackstone is committed to Britain.

The Prime Minister will meet Blackstone President Jon Gray in New York this morning, as he seeks to rebuild Britain’s reputation as an investment destination in order to drive growth and create opportunities for British people.

This comes ahead of the UK’s International Investment Summit in October, which is set to bring together hundreds of leading CEOs and investors set to attend representing the best of business across the globe, with an ambitious programme to showcase the UK’s economic strengths.

The summit will rebuild Britain’s reputation as an investment destination to drive growth and create opportunities for British people and cement the government’s enduring partnership with businesses to give them the certainty they need to invest and grow in the UK.

Today’s investment also bolsters the UK’s bilateral trading relationship with the US which is already worth over £340 billion – making the US our largest single trading partner.

Every day, 1.2 million Americans go to work for UK-owned businesses and 1.3 million Brits work for US owned companies. Just last year the UK and US together invested over $1.2 trillion in each other’s economies, across key sectors like financial services, green infrastructure, real estate and technology.
October 7, 2024