Tag: Press Release

PRESS RELEASE : Schools in England to benefit from major funding boost [April 2023]

The press release issued by the Department for Education on 26 April 2023.

State schools to receive extra cash in May following additional £2 billion investment.

Every state school in England is to receive a cash boost, as primary and secondary schools are allocated extra funding for the next academic year.

The additional cash is part of a £2 billion injection of new funding for schools – being made in both this year and next year – topping up budgets to help headteachers manage higher costs like energy bills and teacher pay. This sits alongside the Prime Minister’s promise to halve inflation.

A typical primary school will receive approximately £35,000 and a typical secondary school approximately £200,000, with the first payments by the 10th May. The majority of this funding is allocated on a per-pupil basis, and disadvantaged pupils attract additional funding to their school. The allocations also factor in differences in wage costs between areas.

Schools can choose how to invest the extra funding, however it is primarily expected to support salary uplifts for teachers and teaching assistants and help with increased running costs, school trips and learning materials.

The boost means that schools budgets are rising by £3.5 billion next year, and funding will be at the highest ever level in real terms per pupil by the next academic year, as measured by the Institute for Fiscal Studies.

It also means school funding is set to rise faster than forecast inflation in both 2023/24 and 2024/25.

Education Secretary Gillian Keegan said:

I am hugely grateful to all our fantastic teachers, school leaders and support staff for all their incredible work and the immeasurable impact they have on the lives of children every day.

Teachers must continue to have the resources they need, and this extra cash will make sure that they do.

With school funding set to be at its highest ever level next year, even accounting for inflation, parents everywhere can be confident schools are being supported to let teachers get on and do what they do best – teach.

The remainder of the £2 billion funding boost will be used to increase Pupil Premium funding rates, which are rising by 5% in 2023-24, to support disadvantaged pupils and local authorities’ high needs budgets which support special schools.

The Department for Education is also today responding to a consultation on the National Funding Formula (NFF) which is used to allocate school funding, considering a range of factors such as the number of pupils, their needs and the school site.

Among the changes being introduced, and in recognition of falling pupil numbers across some areas of the country, is the removal of a requirement for schools to be Ofsted rated good or outstanding in order to be eligible for additional funding to help manage a significant decline in pupil numbers. Schools will need to show that places will be required within five years.

Councils will also be set expectations around the minimum funding they must provide to support schools seeing a significant increase of pupil numbers. Schools with more than one site will also now receive funding on a consistent national basis to go towards the additional costs they face due to the need to duplicate services, like caretaking, across sites.

The consultation response sets out changes to the formula from 2024-25 and reconfirms the Department’s commitment to move to a ‘direct’ NFF, in which funding for individual schools will be set by a single, national formula – rather than each local authority having its own local formula to allocate funding for individual schools. The changes will make the system fairer, more efficient and predictable.

April 26, 2023
PRESS RELEASE : UK and India sign landmark research agreement [April 2023]
The press release issued by the Department for Science, Innovation and Technology on 26 April 2023.

UK and India sign a landmark agreement on science, research and innovation at the UK-India Science and Innovation Council in Parliament, launching a raft of joint research programmes.
- UK and India agree Memorandum of Understanding on research and innovation
- agreement signed at UK-India Science Innovation Council meeting in Parliament today
- will help facilitate a raft of new joint research programmes, with India to partner with the UK’s initial £119 million International Science Partnerships Fund
The UK and India will today (Wednesday 26 April) sign a landmark agreement to collaborate on science and innovation, following a meeting between UK Science Minister George Freeman and Indian Minister of State for Science and Technology Dr Jitendra Singh.

The memorandum of understanding on research between the two countries will be signed at the in Parliament this afternoon, enabling quicker, deeper collaboration on science between the two science powerhouses that will drive economic growth, create skilled jobs and improve lives in the UK, India, and worldwide.

The agreement will remove red tape standing in the way of major collaborations, while unleashing a raft of new joint research schemes aiming to deliver progress on some of the biggest issues facing the world, from climate change and pandemic preparedness through to AI and machine learning.

Programmes include the establishment of a new UK-India Net Zero Innovation Virtual Centre focusing on industrial decarbonisation and launching the first ever UK-India scientific deep sea voyage.

Minister of State for the new Department for Science, Innovation and Technology George Freeman said: “India is rapidly building on its phenomenal software and innovation sectors to become a global powerhouse in science and technology.

“With our extensive trading and cultural links, shared democratic values and interest in urgent global issues from green technology and agri-tech to biosecurity and pandemic preparedness, we have very strong platforms for deepening research collaboration.

“Today’s agreement is part of our program of deepening UK collaboration with other global science superpowers on ground-breaking innovation and research, to help tackle shared global challenges. This partnership will grow the sectors, companies and jobs of tomorrow for the benefit of both our countries and the globe.”

The UK is determined to work with partners across the globe in delivering world class science and research. Other recent announcements include the launch of the International Science Partnerships Fund in Japan, an MoU on science with Switzerland, and agreements on closer collaboration on agri-tech with South Africa.

Alongside this momentous agreement, today’s announcement also sees India named as a partner for the UK’s International Science Partnerships Fund, carrying forward the UK-India science partnership built through the Newton-Bhabha fund. This renewed partnership will kick off with two new joint UK-India research programmes:
- £5 million UK funding, matched by India, for research into Farmed Animal Diseases and Health
- £3.3 million UK funding, matched by India, towards a technology and skills partnership programme that will enable UK and Indian researcher to develop skills, technologies and knowledge in areas such as AI, machine learning and bio-imaging
Other UK-India agreements to be made at the Science and Innovation Council today include:
- The creation of UK-India Net Zero Innovation Virtual Centre, hosting the Hydrogen Valley and Industrial Decarbonisation Living Lab – to help decarbonise manufacturing and transport
- Several UK Research and Innovation (UKRI) and Indian Department for Science and Technology (DST) joint research calls, including programmes on sustainability and solid earth hazards
- An intention to launch a partnership for decarbonising India’s pharmaceutical and fine chemicals industries
- A programme of UK-India university partnerships, including one between Aston University and CSIR Dehradun on sustainable biofuels.
- The Fourth annual meeting (and second in-person meeting) of the RS/INSA Yusuf Hamied programme, a scheme designed to promote relationships and knowledge exchanges between UK and Indian researchers
The collaborative activities carried out under the MoU will be supported by joint funding agreed by both sides, with finances for each programme determined between the UK and India on a case-by-case basis.
April 26, 2023
PRESS RELEASE : Government delivers on its manifesto commitment to recruit 20,000 additional officers [April 2023]

The press release issued by the Home Office on 26 April 2023.

There are more police officers in England and Wales than ever before, new figures published by the government today confirm.

The government has delivered on its 2019 manifesto commitment to recruit 20,000 additional police officers by March 2023. This brings the total number to nearly 150,000 officers, more than 3,500 higher than the previous peak in 2010.

Police forces are now more representative of the diverse communities they serve, with over 53,000 female officers (35.5%) and over 12,000 (8.3%) from an ethnic minority background – both also at record highs. Whilst there is more progress to be made, thanks to the Police Uplift Programme there has been a 43% increase in the number of ethnic minority officers in England and Wales since the start of the recruitment drive.

Prime Minister, Rishi Sunak said:

When I stood at the steps of Downing Street six months ago, I made clear that I will do whatever it takes to build a better future for everyone in the UK, with stronger communities and safer streets.

At the heart of that pledge is recruiting more police officers than at any time in our history, and today we have delivered on that promise.

Thousands of officers are already out in our communities, tackling crime and keeping the public safe.

Home Secretary, Suella Braverman said:

This is an historic moment for our country. We have delivered on the promise we made to the British people which means more police on the beat preventing violence, solving burglaries and cracking down on antisocial behaviour.

These new officers are changing the face of policing. They are more representative of the communities they serve and this offers a unique chance to deliver the highest standards and common sense policing expected by the public.

Crime and Policing Minister, Chris Philp said:

Not only are we putting more police officers on the streets, we are making sure they have the tools they need to fight crime – and holding them to account to deliver.

Overall crime, excluding fraud and computer misuse, has halved since 2010 and I thank all the police officers who have contributed to this effort, and welcome those who are going to drive this down even further.

Gavin Stephens, Chair of National Police Chiefs’ Council said:

It is an incredible achievement to have recruited more than 46,000 officers, giving us more than 20,000 additional officers over the last three years. These additional police officers are much welcomed, bringing a breadth of experience, skills and diversity to their communities.

Those that joined at the start of the programme are now completing training and making a difference every day in forces across England and Wales. It fills me with optimism that so many talented colleagues have joined with a real desire to keep their communities safe and feeling safe.

This landmark recruitment drive is a core part of this government’s commitment to drive down crime. Progress is being made, with crime falling in England and Wales by 50% since 2010, excluding fraud and computer misuse. Since March 2020 theft has reduced by 20%, homicides and knife crime by 8% and domestic burglary by 30%.

Ninety thousand knives have been taken off our streets through stop and search, surrender initiatives and other targeted police action since 2019. Alongside our ‘Grip’ programme, which is delivering more police patrols in streets and neighbourhoods most affected by violence, violence reduction units have prevented over 136,000 violence offences in their first three years of operation, supporting 215,00 vulnerable young people in their third year alone.

The County Lines Programme has also seen police shut down more than 3,500 county lines since November 2019, making more than 10,000 arrests and referring more than 5,700 people for safeguarding.

Since 2019, thousands of these additional officers have already made positive impacts in their communities and boosted local policing functions. There have been officers deployed to protective services for child abuse, sexual assault, violence against women and girls and community safety teams, making a visible impact on policing in our neighbourhoods and greater support for victims.

But the government also recognises that more must more progress must be made. The Home Office recently announced changes to crime recording, reducing paperwork burdens that the NPCC estimate could free up a potential 443,000 hours of police time a year. We are also working with partners to make sure police only attend mental health incidents they need to, such as where there is a risk of serious harm or criminality, so time and resources are focused on policing.

Police time and resources are vital to protecting the public and safeguarding victims, and with thousands of hours saved and an additional 20,000 police officers, police in England and Wales are getting the vital support they need to keep this country safe.

April 26, 2023
PRESS RELEASE : Government needs to better understand faith, independent review claims [April 2023]
The press release issued by the Department for Levelling Up, Housing and Communities on 26 April 2023.

A landmark review into faith engagement has found the government needs to recognise faith groups as a force for good.
- Colin Bloom publishes independent review into faith engagement
- Faith is an ‘overriding force for good’ and government needs to improve its engagement with these groups, report finds
- A better understanding of faith will help government tackle systemic issues including forced marriages, child safeguarding and extremism
A landmark review into faith engagement has found the government needs to recognise faith groups as a force for good.

Colin Bloom, Independent Faith Engagement Advisor, considered how government can best celebrate the contribution of faith groups, while tackling harmful practices.

More than 21,000 people responded to the public consultation and today Colin Bloom has set 22 recommendations for government.

In his review, Bloom examined engagement with faith in a broad range of public institutions – from the Civil Service and the Armed Forces, to schools and prisons – and called on the government to bring in a new programme of faith literacy training for all public sector staff, ensuring public servants understand those they are helping, and to increase partnership opportunities with faith groups who are already playing a valuable role in the social fabric of our society.

Bloom noted that a better understanding of faith would also equip government to tackle issues such as forced marriage, of which there are estimated to be thousands a year in the UK; radicalisation in prison; and faith-based extremism, including the ongoing challenge of Islamist extremism, and the small but growing trends of Sikh extremism and Hindu nationalism.

Bloom also calls for appropriate regulation of out-of-school settings, including the faith-based sector, to safeguard the physical safety and wellbeing of children.

Colin Bloom, the government’s Faith Engagement Adviser said:

“For millions of people, faith and belief informs who they are, what they do and how they interact with their community, creating strong ties that bind our country together.”

“As we as a nation continue to become more diverse, so too does the landscape of faith and belief. Our government’s understanding of the role of faith in society must remain both current and alive to its evolutionary changes.”

“It must also not shy away from some of the challenges that exist in small pockets within faith communities, from forced and coercive marriages to faith-based extremism, financial exploitation, and child safeguarding. These must not be consigned to the ‘too difficult’ box.”

“Greater understanding of faith in all its diversity will ensure that we remain a country that respects, celebrates and understands people of all faiths, beliefs and none.”

Faith Minister, Baroness Scott of Bybrook said:

“As Faith Minister I will continue to shine a light on the important work of faith groups across the country, who play such an important role in public life.”

“I welcome this review and thank Colin for his work – we will carefully consider the recommendations and I’ll make it my mission to continue to work closely with those of all faiths.”

Bloom notes that there are many areas where government is already doing good work with faith groups, including the Faith New Deal grant programme, the co-design of COVID-19 guidance with places of worship, and tackling freedom of religion or belief internationally. He argues that this good practice should be built on and applied consistently across services to enable stronger and more integrated communities.

Government will consider the findings and will respond in due course.
April 26, 2023
PRESS RELEASE : More bill discounts for energy and trade intensive sectors [April 2023]
The press release issued by the Department for Energy Security and Net Zero on 26 April 2023.

Energy and trade intensive businesses as well as heat network operators can from today apply for further support.
- Support for energy and trade intensive businesses opens for applications today, with savings of up to 20% on wholesale energy bills.
- Heat network operators also able to apply for additional support to help protect their customers from higher bills.
- Part of new government support package for businesses as wholesale energy prices fall.
Some businesses could see their bills slashed by as much as 20% off predicted wholesale prices, thanks to further government support launched today (26 April) for sectors using high amounts of energy.
Applications have now opened for energy and trade intensive sectors that are most affected by the unprecedented rise in global energy prices to claim further discounts on their bills between April 1 2023 and 31 March 2024 – helping deliver on the government’s priority to halve inflation.

Ceramics and textiles are among the wide range of sectors potentially in line to benefit. These companies use high amounts of energy to deliver their goods, but also are exposed to strong international competition, meaning they cannot raise their prices to cover the increase in costs they have faced.

Ministers are today urging companies to check their eligibility and submit their applications at the earliest opportunity, as the government continues its unprecedented support package that has protected businesses and as of April has saved them £5.9 billion on energy costs – over £30 million a day.

Minister for Energy Consumers and Affordability Amanda Solloway said:

We are beginning to see light at the end of the tunnel for global energy prices as Putin’s grip on the market weakens – but our vital energy and trade intensive industries remain uniquely exposed to these challenges.

We stand firmly behind British business and that’s why we’re protecting them with an additional offer of support so they can continue to thrive. I urge businesses to check their eligibility and submit an application right away so they can get the help they need.

Rob Flello, Chief Executive of the British Ceramic Confederation, said:

We welcome the fact Government has recognised the on-going difficulties that the ceramics sector and other energy intensive industries are facing, and hope energy prices return to sustainable levels. We look forward to a smooth application process that recognises the variety of corporate structures amongst energy intensive businesses.

The offer is part of the government’s new Energy Bills Discount Scheme, launched this month, which will continue to automatically give businesses across the UK money off their energy bills – as wholesale energy prices fall to the lowest level since before Putin’s illegal invasion of Ukraine.

Businesses are advised to check gov.uk as soon as possible to find out their eligibility and what they need to do to apply. Discounts could be reflected in bills from as soon as June, with support backdated to 1 April. This could save some around 20% on predicted wholesale energy costs.

Heat networks with domestic customers can also now receive a new, sector-specific support rate to make sure households do not face disproportionately higher bills compared to customers supported by the Energy Price Guarantee. Heat suppliers will need to apply for this rate and are legally obligated to pass on the discount to their customers.

This is just one of a range of ongoing schemes supporting households and businesses with energy costs at this time – which the government is urging all eligible customers to apply for and take full advantage of.

The Non-Domestic Alternative Fuel Payment scheme is providing top-ups starting at £750 for organisations using large quantities of kerosene heating oil, such as such as farms, hotels, charities and public buildings like schools and hospitals. Organisations have until 28 April to apply for this support via gov.uk.

This scheme is also offering £150 payments to organisations using alternative fuels. A minority of those eligible will also need to apply for this extra support by 28 April if they have not received payments automatically through an electricity supplier.
April 26, 2023
PRESS RELEASE : The United Kingdom condemns military clashes across Sudan – UK Statement on Sudan [April 2023]

The press release issued by the Foreign Office on 26 April 2023.

Statement by Ambassador Woodward at the Security Council meeting on Sudan.

Thank you, President. And may I start by thanking SRSG Volker Perthes, ASG Joyce Msuya, Her Excellency Fatima Mohamed and Special Envoy, Ismael Wais.

SRSG, can I begin by paying tribute to your tireless work, to the work of the UNITAMS team, to the UN agencies and NGO implementing partners on the ground. We are very relieved that the operation to evacuate and relocate international and UN workers was successful and we thank you and your teams for your commitment and dedication to Sudan, and extend our condolences to those colleagues who have lost their lives.

For the UK, we carried out our own operation to evacuate British embassy personnel on 23 April and today we have begun flying out British Nationals.

We would like to thank our international partners for their co-operation in these efforts. Our priority continues to be the safety of all British nationals in Sudan and support to those in need.

The United Kingdom unequivocally condemns the military clashes that continue to take place across Sudan. We echo the Secretary General’s calls for peace and especially for an end to attacks on civilians, and humanitarian workers.

Hundreds have died, thousands are injured. Adding to acute humanitarian needs across the country.

We welcome the 72-hour ceasefire brokered yesterday by the United States, but we are concerned by reports that once again the parties have failed to uphold their commitments.

We call on both the Sudanese Armed Forces and the Rapid Support Forces immediately to establish a lasting ceasefire across the country and we are in direct contact with the SAF and RSF leadership to end the violence and de-escalate tensions.

We call on both sides to allow humanitarian access, comply with their obligations under international humanitarian law, and ensure the protection of civilians, humanitarian and medical workers.

We welcome and encourage continued regional and diplomatic initiatives including those set out today. We will continue to work with all Council members and the UN Secretary-General, to ensure the Council supports efforts towards an end to fighting, a permanent ceasefire and a political resolution.

In closing, we stand in solidarity with the Sudanese people in their demands for a peaceful and democratic future.

April 26, 2023
PRESS RELEASE : “Peace will only be sustainable if both Israelis and Palestinians recommit themselves to a negotiated settlement” – UK Statement on the Middle East [April 2023]

The press release issued by the Foreign Office on 25 April 2023.

Statement by Ambassador Woodward at the Security Council meeting on the situation in the Middle East.

Colleagues,

Before starting, I recognise that today is Remembrance Day in Israel, and express the hope that this conflict which has cost so many lives on all sides may be brought to a just and peaceful end. I thank Tor Wennesland for his briefing and also acknowledge the presence of Foreign Minister Malki earlier with us.

Sadly, in recent weeks we have witnessed violence that is unacceptable. We call on all parties to desist from unilateral measures which undermine peace, stability and the two-state solution.

First, de-escalation remains imperative. We condemn indiscriminate rocket fire into Israel from terror factions in Gaza, Syria and Lebanon. This year, 19 Israelis have been killed in acts of terrorism and 90 Palestinians killed by Israeli security forces. Among the former, three British-Israeli nationals, members of the same family, were victims of a terror attack in the West Bank on 7 April. The Palestinian Authority must denounce incitement to violence. There is never justification for such acts. Among Palestinian fatalities, a 15-year-old boy was killed near Jericho on 10 April. While Israel has a legitimate right to self-defence, its security forces must exercise restraint in use of force and investigate all fatalities.

Second, we urge all parties to cease unilateral actions which diminish prospects for peace. We condemn Israeli security forces’ raids on Al Aqsa mosque during Ramadan, injuring many worshippers, and we call on all parties to respect the historic Status Quo and Hashemite custodianship.

Third, we urgently need to redouble efforts towards a long-term peace. We applaud those laying foundations for dialogue, notably recent Jordanian, Egyptian and US initiatives. It remains critical that both Israel and the Palestinians respect commitments made, including Israel’s commitment to suspend settlement advancement. Settlements are illegal under international law and threaten the viability of a two-state solution. Our position is reflected in our enduring support for UN Security Council Resolution 2334.

The UK remains committed to working with Israel, the Palestinian Authority, and international partners, to bring an end to the terrorism that Israel faces, and the destructive cycle of violence that continues. Peace will only be sustainable if both Israelis and Palestinians recommit themselves to a negotiated settlement, leading to a secure Israel alongside a viable Palestinian State.

Thank you.

April 26, 2023
PRESS RELEASE : North East man, Christopher Williams, sentenced after waste illegally burnt on land [April 2023]

The press release issued by the Environment Agency on 25 April 2023.

A County Durham man has been sentenced to suspended jail time for repeatedly storing and burning waste in a prosecution brought by the Environment Agency.

Christopher Williams, 64, of Acton Dene in Stanley, appeared at Peterlee Magistrates’ Court on Tuesday 18 April where he pleaded guilty to two charges of operating an illegal waste site and one of not complying with an Environment Agency notice to provide information about waste disposal.

Prosecuting on behalf of the Environment Agency, Chris Bunting told the court that Williams dumped and burnt waste on a smallholding at School House Farm in Kiln Pitt Hill, near the A68 and Derwent Reservoir.

He was sentenced to 36 weeks in prison, suspended for 18 months, and ordered to pay £1,000 in costs.

The land was not authorised for any waste activities and the court heard that it would be very unlikely that a waste operation would be allowed at that location.

Advice and law ‘deliberately disregarded’

Andrew Turner, Area Environment Manager for the Environment Agency in the North East, said:

Environmental permits are in place for the protection of the public and environment and waste crime such as this – burning waste like plastics and treated wood that produces a toxic smoke – can be extremely damaging.

Our officers repeatedly told Williams to stop burning waste and clear it from the land but he deliberately disregarded their advice and the law.

We take all waste crime seriously and I hope this sentence sends out a message to others that we will take tough action against those who flout the rules. People can report waste crime to our 24-hour hotline on 0800 807060.

Environment Agency investigation

Williams operates an organisation known as the LCA Community Charity, which provides help to people, schools and other charities with clothing and furniture, and offers house and shop clearance services. However, the court heard that Williams regularly dumped and burned residual waste from those activities at the smallholding.

In March 2020, the Environment Agency received a report of burning on land at School House Farm. Officers attended and saw mixed construction and household waste, including a metal garage door, plastic guttering, wood, a shopping trolley and a fridge. They also saw evidence of burning, with a one-metre high pile of ash.

Officers instructed Williams to stop the fires and clear the remaining waste from the land, but checks at the end of May revealed more waste had been dumped with nearby piles of ash from fires.

Williams said no further burning would take place and he would clear the site of waste and at the end of August 2020 the site was largely cleared.

During the following months officers continued their investigation into the waste activities and issued a notice to Williams requiring him to provide documentation relating to the removal of waste from his site, so the EA could track its disposal. They didn’t receive a response and Williams received a fine, which he did not pay.

In March 2022, Environment Agency officers again attended the farm, and again saw household waste had been dumped, along with doors, window frames and furniture. Two months later, several reports were received of waste again being dumped and burned on the site, and inspections revealed a large pile of ash with a new, more concealed burning location discovered and waste hidden under a tarpaulin.

The court was told that Williams had twice been convicted in the past 9 years for similar offences involving waste burning. Magistrates decided that although a custodial sentence was inevitable, it could be suspended on account of the guilty pleas and testimonials from people who had been supported by donations received.

April 26, 2023
PRESS RELEASE : Economic Secretary re-establishes the Asset Management Taskforce [April 2023]

The press release issued by HM Treasury on 25 April 2023.

City minister re-establishes influential forum convening senior leadership from industry and the FCA to identify and harness the potential of innovative new technologies for the UK asset management industry.

The Economic Secretary’s Asset Management Taskforce has been joined by five new senior executives from the UK’s world-class investment industry, it was announced today (25 April 2023).

Hans Georgeson (CEO, Royal London Asset Management), Mark Murray (Senior Partner, Artemis), Joseph Pinto (CEO, M&G Asset Management), Nick Ring (CEO EMEA, Columbia Threadneedle) and Andrew Telfer (CEO, Baillie Gifford) have joined the Taskforce in the wake of the Chancellor’s Edinburgh Reforms, which aim to drive growth and competitiveness in the financial services sector.

The Economic Secretary has also launched a new Technology Working Group, which will run in parallel to the Taskforce to examine the impact of new technology on the asset management sector. The group – chaired by Michelle Scrimgeour (CEO, Legal and General Investment Management) – will work to articulate the benefits of technology for investors and industry, and will identify the main opportunities presented by technologies including tokenisation, artificial intelligence and distributed ledger technology.

The group’s membership will be drawn from Taskforce members, government and regulators, and wider non-asset management stakeholders. It will hold a series of meetings over the next year and subsequently produce a final report to the Taskforce.

The report will explain the group’s findings and contain guidance and recommendations for government, regulators and industry. Previous reports produced by the Taskforce – on the UK funds regime and on stewardship – have been very successful in progressing their respective agendas.

Andrew Griffith, Economic Secretary to the Treasury said:

“Investment management is of central importance to the UK economy and I am determined to help it continue to flourish.

“The UK is well-placed to take advantage of the opportunities presented by new technology in financial services, and I look forward to the Technology Working Group’s findings with great interest.”

Asset Management Taskforce members

Stephen Cohen, Head of EMEA, BlackRock

Chris Cummings, CEO, Investment Association

Helen Dean, CEO, NEST

Hans Georgeson, CEO, Royal London Asset Management

Sean Hagerty, Managing Director of Europe, Vanguard

Peter Harrison, CEO, Schroders

Catherine Howarth, CEO, ShareAction

Mark Murray, Senior Partner, Artemis

Joseph Pinto, CEO, M&G Asset Management

Anne Richards, CEO, Fidelity International

Nick Ring, CEO EMEA, Columbia Threadneedle

Michelle Scrimgeour, CEO, Legal & General Investment Management

Andrew Telfer, CEO, Baillie Gifford

Patrick Thomson, CEO EMEA, JP Morgan Asset Management

Sarah Pritchard, Executive Director – Markets, Financial Conduct Authority (FCA)

April 26, 2023
PRESS RELEASE : UK’s tech sector promoted to American entrepreneurs and investors [April 2023]
The press release issued by the Cabinet Office on 25 April 2023.

A campaign designed to promote the UK’s thriving tech sector to American entrepreneurs and investors has been launched in Silicon Valley.
New campaign launched in US – with billboards across Silicon Valley – to encourage tech experts to invest in the UK and help deliver on priority to grow the economy

Campaign promotes that UK is now the third country in the world to have a trillion dollar tech sector

Short film narrated by Stephen Fry highlights the UK’s tech success

In 2022, the UK became only the third country in the world to have its tech sector valued at one trillion dollars, making it a tech superpower alongside the US and China.

To date, 162 ‘tech Unicorns’ – private start-ups which are valued at more than $1bn – have been started in the UK, more than the total number in Germany, France and Sweden combined.

Yet government research suggests that many of Silicon Valley’s top tech entrepreneurs and investors are still not aware of the UK’s world-leading strengths in areas such as artificial intelligence (AI), fintech and medical technology.

GREAT, the government flagship marketing programme, has taken steps to address this by launching its ‘Unicorn Kingdom’ campaign, which promotes the UK as a place with all the right ingredients to breed new tech unicorns and aims to drive international investment, grow the economy and create jobs across the UK.

The campaign launched with billboards in San Francisco promoting the UK sector’s scale ($1trillion), agile regulation and world-class talent. The campaign also includes targeted LinkedIn and digital display ads and a content partnership with TechCrunch, with promotional videos narrated by Stephen Fry.

The campaign is being supported by multiple UK tech unicorns including Darktrace, Deepmind, Revolut, and Matillion – and is the latest in a number of recent actions from the government which demonstrates its strong support for UK tech.

This includes the establishment of the new Department of Science, Technology and Innovation, the launch of the International Tech Strategy, the upcoming AI Whitepaper and the Government’s commitment to provide £20 billion of funding to research and development by 2024-25 – the highest ever level of public support for UK researchers and innovators.

The next stage of the campaign will see leaders from the US tech sector invited to the UK for London Tech week, to see the benefits of working in the UK first-hand.

Prime Minister, Rishi Sunak, said:

The UK has all the right ingredients for tech companies to thrive. But we’ll keep working hard to foster the right conditions for the tech sector, so that it can continue to deliver on my priority to grow the economy and create jobs right across the UK.

Deputy Prime Minister, Oliver Dowden, said:

The UK tech sector is a wonderful success story. Only three countries in the world are in the trillion-dollar tech club – and we’re one of them. We’re home to some of the brightest minds and best universities, and our doors are open to any tech entrepreneur who wants to start the next Deepmind or Deliveroo.

Technology Secretary Michelle Donelan said:

The UK has one of the top tech sectors in the world with a valuation of more than a trillion dollars. It’s diverse, resilient, and continues to grow at a rapid pace with the most venture capital investment in Europe. The goal of this campaign is to attract as much collaboration and investment as we can from Silicon Valley.

The formation of the Department for Science, Innovation and Technology, shows Investors and entrepreneurs that the UK is more dedicated than ever to forming a tech sector that is pro-innovation, pro-talent and pro-growth. Our commitment for R&D spending to be £20 billion a year by 2024 drives forward the government’s ambitions for the UK to be a science and tech superpower.

As well as the promotional campaign, business leaders from across Silicon Valley were invited to a special reception to promote the UK tech sector in San Francisco.

At the event, they met the leaders of tech companies from across the UK as well as senior government officials, who explained to them the UK’s place at the centre of the tech world and the benefits of investing in the country.

Matthew Scullion, CEO and founder of Manchester-based tech company, Matillion, said:

In the UK, we really have all the ingredients required for building consequential companies. We have brilliant grassroots engineering skills from our very strong university ecosystem. We have skills, we have capital, and we have a great environment for starting and building businesses.

Further activities will also be carried out in the UK during London Tech Week in June, when leaders from the tech sector in America will be invited to the country to see the benefits of working in the UK.
April 26, 2023