Tag: Press Release

PRESS RELEASE : A rushed departure of MONUSCO would create a significant security vacuum in eastern DRC – UK statement at the UN Security Council [October 2023]

The press release issued by the Foreign Office on 17 October 2023.

Statement by UK Political Coordinator Fergus Eckersley at the UN Security Council meeting on the Great Lakes region.

Thank you, President, and thank you to the Special Envoy for his briefing. Thank you also to Mr. Caholo and Ms. Malimukono for their contributions.

The United Kingdom is deeply concerned by the intensifying violence and deteriorating humanitarian situation in the Great Lakes region and the recent escalation in fighting between armed groups in North Kivu. We also remain concerned by the worsening humanitarian situation in the Great Lakes region, including large-scale displacement of people from their homes and high levels of sexual violence, including in IDP camps.

The UK fully supports the work carried out by MONUSCO, especially in protecting civilians. We acknowledge the DRC government’s request to bring forward MONUSCO’s withdrawal and we encourage it to engage constructively with MONUSCO to ensure a responsible, conditions-based withdrawal. A rushed departure of MONUSCO would create a significant security vacuum in eastern DRC, putting hundreds of thousands of civilians at risk, and risk further deterioration of the humanitarian situation.

President, we welcome the reduction in incidents of cross-border violence between DRC and Rwanda, but we remain concerned by heightened confrontational rhetoric by both countries. We have engaged Kigali and Kinshasa to urge them to engage in dialogue and build trust, recognising the risk of miscalculation and the horrendous cost of further escalation.

The UK also welcomes the continued engagement of the Great Lakes region, in particular the leadership of Presidents Lourenço, Ndayishimiye, Geingob, and former President Kenyatta. We reiterate our support for the Nairobi and Luanda processes. We call upon countries in the region to revitalise these processes and turn commitments into tangible action to address the shared security challenges, improve humanitarian access, and to reduce violence.

President, the UK firmly believes that dialogue, not violence, is the only way to achieve lasting peace in the Great Lakes region. To this end, we will continue our regional diplomatic efforts and engage with all Council members to support peace and stability in the Great Lakes region.

October 22, 2023
PRESS RELEASE : UK announces further assistance for Rohingya people in Bangladesh [October 2023]
The press release issued by the Foreign Office on 17 October 2023.

UK Minister for the Indo-Pacific, Anne-Marie Trevelyan, has announced a further £4.5 million in humanitarian support at a UNHCR conference on Rohingya refugees.
- UK Minister for the Indo-Pacific, Anne-Marie Trevelyan, announces further UK funding of £4.5 million to provide vital humanitarian services to Rohingya refugees and host communities in Bangladesh
- Minister Trevelyan is co-convening a UNHCR conference on the Rohingya crisis in Bangkok
- Minister Trevelyan will meet Bangladesh’s Foreign Minister, Dr A K Abdul Momen, and UN High Commissioner for Refugees, Filippo Grandi during the conference
The UK has extended funding to support Rohingya refugees living in camps in Bangladesh, providing an additional £4.5 million for vital humanitarian services. UK Minister for the Indo-Pacific, Anne-Marie Trevelyan, announced the funding at a UN Refugee Agency (UNHCR) regional conference on the Rohingya crisis.

Minister Trevelyan is attending the conference alongside Bangladesh’s Foreign Minister Dr A K Abdul Momen and UN High Commissioner for Refugees Filippo Grandi.

Minister for the Indo-Pacific Anne-Marie Trevelyan said:

The UK is committed to finding a long-term solution to the Rohingya crisis. This includes their safe, voluntary and dignified return to Myanmar, when the conditions there allow.

Until the Rohingya can safely return to their homeland, we are committed to providing ongoing humanitarian support. That is why we are announcing £4.5 million of further UK support for protection services, healthcare and clean energy to the refugees in Bangladesh.

Today’s conference is an important opportunity to discuss sustainable solutions in Myanmar, and support for the Rohingya and their host countries.

The package of £4.5 million funding includes:
- £2.1 million provided through the International Organization for Migration (IOM) for healthcare and clean energy for the Rohingya refugees and host communities
- £2 million provided through NGOs for the protection of refugees and host communities. This includes the Norwegian Refugee Council, Danish Refugee Council, International Rescue Committee, and Humanity and Inclusion
- £450,000 provided through the UN Population Fund (UNFPA) to prevent and respond to gender-based violence and provide sexual and reproductive health services
Since 2017, the UK has provided £370 million to support Rohingya refugees and host communities in Bangladesh, and nearly £30 million to support Rohingya and other Muslim minorities in Myanmar’s Rakhine State. This has included food, water and sanitation, healthcare and protection services that are vital for women and girls in the camps.

The UK supports peace and stability across the Indo-Pacific and continues to stand with the people of Myanmar. We reiterate our call for an end to all violence and for the protection of civilians and safe and unhindered humanitarian access to all those in need.

The UK’s sustained support for the Rohingya people demonstrates its long-term commitment to the Indo-Pacific region, critical to the Prime Minister’s priority of growing the economy, in line with the Integrated Review Refresh published in March 2023.
October 22, 2023
PRESS RELEASE : Rishi Sunak call with the Prime Minister and Crown Prince of Saudi Arabia, Mohammed bin Salman [October 2023]

The press release issued by 10 Downing Street on 17 October 2023.

The Prime Minister spoke to the Prime Minister and Crown Prince of Saudi Arabia, Mohammed bin Salman, this afternoon.

Their discussions focused on the conflict in Gaza following Hamas’ terror attack, and the Prime Minister welcomed Saudi Arabia’s leadership in seeking a peaceful resolution to the crisis.

The leaders agreed on the importance of avoiding further destabilisation across the Middle East, including through Iranian proxies in the region, and committed to coordinate action to deescalate tensions.

The Prime Minister set out the UK’s support for Israel’s right to defend itself against terror and combat the threat from Hamas. He confirmed the UK would provide further humanitarian aid for Palestinians in Gaza and continue to support the legitimate aspirations of the Palestinian people to statehood, alongside regional partners like Saudi Arabia, Jordan and Egypt.

The leaders also discussed wider cooperation between the United Kingdom and Saudi Arabia, including in the areas of defence, trade and investment.

October 22, 2023
PRESS RELEASE : Seven UK projects net additional funding through UK Seafood Fund [October 2023]

The press release issued by the Department for Environment, Food and Rural Affairs on 17 October 2023.

Government announces a further £3.9 million to be awarded to UK Seafood Fund projects across the UK.

£3.9 million has been awarded to projects to improve the quality of training facilities to upskill the workforce and promote seafood careers, as well as build new and improved sea fishing infrastructure, Defra has announced today (Tuesday 17 October).

The funding is being delivered through the £100 million UK Seafood Fund, which is supporting the long term future and sustainability of the UK fisheries and seafood sector through investment in modern infrastructure, science and innovation, skills and training, and support for exports.

The investment confirmed today includes around £3.8 million awarded to four projects across England, Scotland and Northern Ireland, as part of Round 2 of the Skills and Training scheme – building on the £1.1 million of funding that was around through the first round earlier this year and which goes towards new purpose-built classrooms, bespoke technical training areas including a new Maritime Bridge Simulator, and improved facilities for blended training to help ensure future generations have the skills needed to thrive in the seafood industry.

Fisheries Minister Mark Spencer said:

We have already seen the great success that funding from the UK Seafood Fund has contributed to – from upgrading ports and aquaculture facilities to creating innovative training programmes to attract fresh blood into the sector.

Today’s investment will help to support the industry so that our existing and future workforce is equipped with the necessary skills and facilities to join the sector and benefit from the brilliant opportunities that are available to them with a career in seafood.

The funding includes £3 million to the Scottish White Fish Producers Association to build a Scottish Seafood Centre of Excellence that will replace a temporary training space with a high-quality industry facility in the northeast of Scotland. The facility will include purpose-built classrooms, technology demonstration spaces, and facilities for blended training so trainees around the country can benefit from the facility.

Other projects to receive support include the refurbishment of training facilities at the harbour in Portavogie, Northern Ireland, the upgrade of the Maritime Bridge Simulator at the University of the Highlands and Islands’ campus in the Shetland Islands, and the refurbishment and extension of facilities in Grimsby to create a new Seafood School.

UK Government Minister for Scotland John Lamont said:

It’s excellent news that three Scottish projects have been awarded more than £3.2 million combined from the latest round of the UK Seafood Fund.

The Scottish White Fish Producers Association’s exciting plans for a new seafood centre of excellence and University of the Highlands and Islands, Shetland, project to upgrade a seafarers training simulator will help keep Scotland’s fisheries, seafood and aquaculture sectors world renowned.

The £100 million UK Government fund is a crucial part of our commitment to help level up coastal communities and deliver the Prime Minister’s priorities of growing the economy and creating better-paid jobs and opportunity right across the country.

UK Government Minister for Northern Ireland Steve Baker said:

The Sea Fish Industry Training Association in Portavogie will benefit from over £450,000 of UK Government funding, assisting them to further enhance safety at sea.

The improvement to training facilities and equipment will help support the organisation’s mission of delivering quality training and advice to the local fishing industry. This is levelling up in action.

Mike Park, Chief Executive of the Scottish White Fish Producers Association, said:

Our members and the wider seafood sector are delighted at the award of £3 million pounds from the Defra training infrastructure fund, which will allow us to build a seafood Centre of excellence at the very heart of our fishing community.

The Centre will be the delivery point and hub for both onshore and offshore training supported by classroom and virtual learning and will provide an ideal base to help stimulate recruitment to the seafood sector.

Alongside this, the government has also announced a further £154,000 is being invested into Round 4 of the Infrastructure scheme, building on the £56 million which has already been invested through the scheme so far.

Round 4 is providing investment to support the sport of recreational sea fishing, with funding helping to build new club houses, boatsheds and storage facilities as well as improving access.

The UK Seafood Fund is currently open for applications from the commercial catching sector to purchase new, more fuel-efficient engines or to modify existing engines. Grants of up to £160,000 are on offer through Round 3 of the Infrastructure Scheme to trial greener engine technology, helping to create a safe and sustainable fishing sector whilst tackling rising fuel costs.

The UK Seafood Fund is part of the government’s wider work to invest in the long term prosperity of coastal communities around the country, creating jobs and boosting businesses.

The Levelling Up Fund has seen around £1 billion allocated to 50 projects in coastal to boost town centre and high street regeneration, invest in local transport projects, and support cultural and heritage assets.

The Department for Levelling Up, Housing and Communities is also establishing Levelling Up Partnerships in six coastal areas, which will provide these areas with bespoke funding packages and see government working closely with local leaders, mayors, businesses, community organisations and residents to identify and address the biggest barriers to levelling up.

October 22, 2023
PRESS RELEASE : Rishi Sunak call with the Amir of Qatar, Sheikh Tamim bin Hamad al-Thani [October 2023]

The press release issued by 10 Downing Street on 17 October 2023.

Prime Minister Rishi Sunak spoke to the Amir of Qatar, Sheikh Tamim bin Hamad al-Thani, this afternoon about the situation in Israel and the Occupied Palestinian Territories.

The Prime Minister reiterated his complete condemnation of Hamas’ terrorist attack and set out the UK’s efforts to support Israel and protect Palestinian civilians and British nationals caught up in the violence.

The leaders discussed areas of cooperation between the UK and Qatar, including on ensuring safe passage for aid to Gaza to alleviate the humanitarian suffering and on urgent efforts to secure the release of hostages. The Prime Minister thanked the Amir for his constructive role in regional diplomacy.

The Prime Minister updated on his conversations with other Arab leaders and they agreed that the conflict must not be allowed to destabilise the wider region and cause further bloodshed.

October 22, 2023
PRESS RELEASE : New appointment to the UK Supreme Court [October 2023]

The press release issued by 10 Downing Street on 17 October 2023.

The King has approved the appointment of Lady Justice Simler to the Supreme Court of the United Kingdom as a Justice.

Lady Justice Simler will join the Supreme Court of the United Kingdom as a Justice on 14 November, it was announced today.

His Majesty The King made the appointment on the advice of the Prime Minister and Lord Chancellor, following the recommendations of an independent selection commission.

Welcoming the announcement, the President of the Supreme Court, The Right Hon The Lord Reed of Allermuir said:

I am delighted to welcome Lady Justice Simler as a Justice to the Supreme Court.

She will bring exceptional experience and ability to the Court following a distinguished career as a barrister and Judge. Her experience in employment law, tax, public law and criminal law will be highly valuable to the Supreme Court and will further strengthen us as a world-leading Court.

This appointment follows the retirement of Lord Kitchin on 29 September 2023.

A detailed description of the appointments process for Justices is available on the Supreme Court website.

October 20, 2023
PRESS RELEASE : Prison reforms will cut reoffending and put worst offenders behind bars for longer [October 2023]
The press release issued by the Ministry of Justice on 16 October 2023.

A fundamental shake-up of the justice system that takes dangerous offenders off the streets for longer while rehabilitating lower risk offenders has been outlined today by Lord Chancellor Alex Chalk.
Rapists to stay locked up for all of their sentences, building on work to keep the most dangerous offenders in prison for longer

Reforms will also see lowest risk and first-time offenders given a chance to turn themselves away from a life of crime

Lord Chancellor outlines vision for long-term changes to prisons and justice to keep public safer from crime

The Lord Chancellor confirmed plans to bring forward legislation to keep rapists, as well as the most serious sexual offenders, behind bars for the entirety of their sentences, making sure perpetrators of this awful crime do not walk out of prison before the last day of their custodial term.

This builds on action already taken by the government to keep those who pose the greatest danger to society locked up and off our streets, including ending the automatic halfway release for serious sexual and violent offenders and making whole life sentences the default sentence for the most heinous types of murder.

The Lord Chancellor told the Commons that in order for the government to continue to put the worst offenders away for longer, we must think again about how we make the best use of our prisons and ensure there are always enough places to lock up dangerous criminals. These reforms must include giving the lowest risk offenders the greatest chance to turn their lives around.

The Lord Chancellor set how despite the overall reoffending rates falling by almost a quarter since 2010, the public are being failed by short prison sentences that result in some of the lowest risk offenders getting trapped in a revolving prison door. He pointed to the fact these short-term sentences often lead to offenders who could otherwise be turned away from crime losing their jobs and family ties, making them more likely to reoffend.

He noted that reoffending rates are far higher for offenders in prison for under 12 months, and higher again for those in for under six months. While the overall reoffending rate is 25 percent, the rate for people who spend fewer than 12 months in prison is over 50 percent. This goes up to 58% for those who serve sentences of six months of less.

This is also far higher than the 23% for a suspended sentence order with requirements, 38% without requirements, or 34% for those given a community order.

In order to end the merry-go-round of reoffending the government will legislate that there should be a presumption against prison sentences of less than 12 months. Instead of going to prison these offenders can be punished in the community, repaying their debt to society by cleaning up our neighbourhoods and scrubbing graffiti off walls. By remaining in the community these offenders will also be able to better access the drug rehab, mental healthcare and other support that properly addresses the root causes of their offending.

The Lord Chancellor also announced a doubling of the number of GPS tags available to the courts to help them manage offenders in the community. This technology can help make sure offenders go to work and have their freedom curtailed by monitoring with tough curfews of 7am to 7pm on weekdays and up to 20 hours a day on weekends.

Judges and magistrates will still be able to send offenders to prison for less than 12 months if deemed appropriate, such as prolific repeat offenders, as well as anyone unwilling to obey the strict requirements of the sentence – such as breaking curfews, cutting off a GPS tag or breaching a court order to clean up the neighbourhoods they’ve damaged.

During his statement, the Justice Secretary also updated Parliament on our plans to build enough prison places for future demand. He announced up to £400m for more prison places, enough to buy 800 new rapid deployment cells, and 35,000 cells will be refurbished across the estate to bring them up to modern standards.

He also set out new plans for £30m of funding to allow the Prison Service to quickly identify and purchase land in 2024 for new prisons.

This is on top of the government’s commitment to build 20,000 new prison places, the biggest expansion in 100 years. Over 5,500 of these are already built, with a further 3,000 expected to be ready in the next two years.

To help manage the prison population further a new Annual Report will be laid in Parliament setting out how the demands on prison places and how they will be met.

Further reforms that were outlined today include:

Stepping up work to remove thousands of foreign prisoners by deporting them earlier and agreeing more transfer agreements with other countries

Legislating to allow prisoners to be held in overseas prisons

Reviewing the incentives around early guilty pleas, to save the courts time and spare victims the ordeal of giving evidence in court

Looking at options to tackle the injustice of the now abolished Imprisonment for Public Protection (IPP) sentence and how the licence period could be reduced to restore greater proportionality to the IPP sentence

The Lord Chancellor also acknowledged how the pandemic, combined with last year’s barristers’ strike, had impacted the justice system and put pressure on our prison estate. This has contributed to around 6,000 more prisoners being held on remand in prison than before the pandemic.

Despite bringing online 100 places per week this year – the fastest living in memory – to keep up with this unprecedented demand, pressure remains.

The Lord Chancellor confirmed that in order make sure we have the prison places we need to lock up the most dangerous offenders and to ensure safety in the prison estate, he has agreed to use an existing power to allow the prison service to move some less serious offenders on to licence a few days before their automatic release point.

The Prison Service will exclude offenders who do not meet strict criteria. Offenders will be supervised by the probation service and placed under strict licence conditions – which may include GPS tags and curfews. Breach of these conditions could lead to the offender being instantly recalled to prison for the entire second half of their sentence.

It will be limited to lower-level offenders and will not apply to anyone convicted of sexual or terrorist offences or serious violent offences.

Every single offender will be placed under strict licence conditions which provide a step-down from custody to living in the community. This may include having to live at an address approved by their probation officer, attending appointments, not entering certain areas such as postcodes and being made to wear an electronic tag where needed to manage them safely. Breach of these conditions could lead to the offender being recalled to custody – not just for 18 days, but the remainder of their sentence.

Those serving a sentence for any kind of sexual offence, terror offence or where the sentence is longer than four years for a serious violent offence will automatically be ruled out.

Such schemes have operated recently in France, Belgium, Ireland and California either due to overcrowding or due to the risk the Covid-19 pandemic presented to prisoners.

The package of reforms involves legislation being introduced and further details will be announced when parliamentary time allows.
October 20, 2023
PRESS RELEASE : Reconstruction efforts following floods must be unified across eastern and western Libya – UK statement at the UN Security Council [October 2023]

The press release issued by the Foreign Office on 16 October 2023.

Statement by Ambassador James Kariuki at the UN Security Council meeting on Libya.

Thank you, President,

I thank SRSG Bathily for his briefing and the Permanent Representative of Japan for his update on the 1970 committee. I also welcome the participation of the Representative of Libya in this meeting.

Firstly, I want to express the UK’s deep condolences to the people of Libya following the devastating flooding in Derna. The UK is committed to supporting those affected by the flooding. We have mobilised over $6 million in support, contributing to the UN Flash Appeal, deploying UK emergency medical teams, and technical engineering support. We will continue to coordinate closely with the UN and Libyan authorities on further support required.

We welcome SRSG Bathily’s statement on the need for a national mechanism to direct recovery and reconstruction efforts. To be effective, any reconstruction efforts must be unified across eastern and western Libya, and coordinated with local, national and international partners. There must be full transparency, effective oversight, and accountability to the Libyan people.

President, the devastating floods simply reinforce our assessment that the status quo is unsustainable and will not deliver what the Libyan people need. Libya’s citizens continue to suffer from the lack of political progress. A unified and democratically-elected government is needed to respond effectively to citizen’s needs.

In this regard, we note UNSMIL’s assessment that the updated electoral laws constitute a working basis to hold elections and require the commitment of all major parties to implement. However, as SRSG has made clear, contentious issues remain. These need to be resolved through an inclusive political agreement.

Therefore, Libya’s leaders must urgently engage with SRSG Bathily, in a constructive manner, to give this process a chance of success. They should attend any UN convened meetings and make concessions in order to move Libya towards elections.

We look forward to working with Council Members on the renewal of the UNSMIL’s mandate later this month. UNSMIL is an essential partner in Libya and vital to efforts to help create a path towards free, fair and inclusive Presidential and Parliamentary elections. We hope this renewal will provide the continuity that SRSG Bathily needs to lead the Mission and steer international support towards an inclusive political settlement for Libya.

Thank you.

October 20, 2023
PRESS RELEASE : Rishi Sunak call with President Erdoğan of Türkiye [October 2023]

The press release issued by 10 Downing Street on 16 October 2023.

Prime Minister Rishi Sunak spoke to President of Türkiye, Recep Tayyip Erdoğan, this afternoon about the conflict in Gaza following Hamas’ terror attack.

The Prime Minister welcomed the opportunity to speak to President Erdoğan at this critical time, as an influential regional partner and NATO ally. The leaders shared their concerns about the risk of violence spreading in the region and agreed to work together to mitigate against further escalation.

The Prime Minister updated on the UK’s military deployments to the region, which provide surveillance capabilities and offer a platform to support humanitarian operations if needed.

The Prime Minister reaffirmed the UK’s support for Israel’s right to defend itself following last week’s abhorrent attack, noting that Hamas does not represent the Palestinian people. They discussed the importance of facilitating humanitarian aid to Gaza and taking all reasonable measures to protect civilians caught up in the violence.

The leaders also agreed to work together with international partners to reinvigorate the Middle East Peace Process and bring about a peaceful and lasting resolution to this conflict.

October 20, 2023
PRESS RELEASE : Burdensome legislation withdrawn in latest move to cut red tape for businesses [October 2023]
The press release issued by the Department for Business and Trade on 16 October 2023.

The Government has withdrawn draft regulations after consultation with companies raised concerns about imposing additional reporting requirements.
- Government withdraws draft new reporting regulations following a consultation with businesses on wider reporting regime.
- New reform package will deliver a more targeted, simpler and effective framework for both business and investors.
- Announcement welcomed by leading industry voices including the London Stock Exchange, Capital Markets Industry Taskforce, UK Finance, Lloyds and CityUK.
- Changes will ensure the UK remains one of the best places in the world for firms to list and to do business.
The Government has today [16 October] withdrawn draft regulations after consultation with companies raised concerns about imposing additional reporting requirements.

Instead, the Government will pursue options to reduce the burden of red tape to ensure the UK is one of the best places in the world to do business.

Draft regulations published in July would have added certain additional corporate and company reporting requirements to large UK listed and private companies, including an annual resilience statement, distributable profits figure, material fraud statement and triennial audit and assurance policy statement.

This would have incurred additional costs for companies by requiring them to include additional layers of corporate information in their annual reports.

Since July, the Government has completed a call for evidence on existing non-financial reporting requirements, which has identified a strong appetite from businesses and investors for reform, including to simplify and streamline existing reporting.

The Business Secretary has now decided to withdraw these regulations, and will be setting out options to reform the wider framework shortly to reduce the burden of red tape on businesses.

The Government remains committed to wider audit and corporate governance reform, including establishing a new Audit, Reporting and Governance Authority to replace the existing Financial Reporting Council. We will bring forward legislation to deliver these reforms when Parliamentary time allows.

Business Minister Kevin Hollinrake said:

Since the Government first published these draft regulations in July, discussions with businesses and stakeholders have highlighted a strong appetite for existing reporting requirements to be simplified.

The Government has decided not to implement the draft regulations at this time, while we continue at pace with our plans to reform the wider non-financial reporting framework.

This will deliver a more targeted, simpler and effective framework for both business and investors, reinforcing that the UK is one of the best places in the world for firms to list and to do business.

This move will form part of a wider package of reform from the Government to streamline and simplify regulation for businesses.

It also builds on the 12-week call for evidence launched earlier this month to carry out an in-depth review of all regulators across the UK, in a campaign to bring about smarter regulation and make companies’ lives easier.

Julia Hoggett, CEO, London Stock Exchange plc, said:

This is a welcome step and will boost the competitiveness of the UK. Good corporate governance should be an enabler for companies to grow and reach their full potential in the interests of all stakeholders. However, founders, company boards and, increasingly, shareholders have highlighted that the UK’s approach of ever-increasing corporate governance processes has, however well-intentioned, impacted the effectiveness of listed companies and the standing of the UK over other capital markets.

Releasing listed companies from the additional reporting burdens that were proposed is another step toward the level playing field UK companies need to compete and drive the growth economy to the benefit of all stakeholders. If companies are to have the certainty they need, it is vital that this reform and steps to enhance the competitiveness of the UK, are backed by political consensus.

The Capital Markets Industry Taskforce said:

This decision is an important sign that the Government does listen to business and that the Business Secretary is prepared to remove incremental burdens on business.

We are committed to continuing to work with the Government on more steps to ensure the UK remains a competitive environment for business and investment, including in the area of corporate governance.

David Postings, CEO, UK Finance, said:

I welcome the news that the Department for Business and Trade has listened to feedback and withdrawn these regulations.

This is an important step in terms of making the UK an attractive place for businesses to grow and list. The government now has the opportunity to make further reforms to create a simpler, streamlined and more effective reporting and corporate governance regime.

Burkhard Keese, Chief Financial Officer, Lloyd’s said:

Lloyd’s appreciates the close and productive engagement we have had with Government on corporate governance reform.

We welcome this first step that the government is taking to ensure that the UK has a proportionate and competitive corporate governance framework and look forward to ongoing collaboration as its work continues in this area.

Miles Celic, Chief Executive Officer, TheCityUK:

The government’s decision to withdraw this proposal is a significant step which will reaffirm the UK’s reputation as a business-friendly destination.

We welcome the government’s support for fostering a growth environment in the UK and our industry remains committed to working with the public sector to increase the attractiveness of the UK as a public equity listing market and to send a strong signal globally that the UK is an ideal destination for business and investment.
October 20, 2023