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Tag: Press Release

  • HISTORIC PRESS RELEASE : Stephen Byers outlines proposals to “Enhance London´s reputation and position in financial services” [September 1998]

    HISTORIC PRESS RELEASE : Stephen Byers outlines proposals to “Enhance London´s reputation and position in financial services” [September 1998]

    The press release issued by HM Treasury on 24 September 1998.

    “Our reforms of the financial services regulatory regime will enhance our reputation as a clean and attractive place to do business, and increase the public’s confidence in the industry,” said Chief Secretary Stephen Byers today. He was speaking to a Financial Services Authority (FSA) conference in London where he also gave examples of the type of behaviour which will be covered by a new code of conduct.

    He also emphasised the importance of having a robust regulatory structure in place to maintain London’s pre-eminence in the financial services area at a time of global economic turmoil elsewhere;

    “Recent events in Japan and elsewhere have shown that highly developed economies require highly developed and transparent systems for supervising financial services. Where supervision is ineffective and fails to command confidence the health and growth prospects of the whole economy can be threatened. London and the UK generally has an excellent reputation. The creation of the FSA is an opportunity to enhance that reputation further.

    One area which will contribute to enhanced confidence is our new measures to deal with market abuse. These fill a gap that currently exists. A new code of market conduct will underpin this regime. It will detail the type of abuses which we are seeking to deter and set out safe harbours. Examples of the kind of behaviour include:

    • artificial transactions which give the market the wrong impression as to the real supply and demand for an investment;
    • abusive squeezes whereby the position of one player in the market, who has temporary control over the supply of a product, results in arbitrary prices; and
    • misuse of privileged information which is not available to the rest of the market.

    These measures, linked to our proposals to deliver greater consumer protection, are all aimed at making sure that the UK has a fair and balanced regime fit for the future.”

  • HISTORIC PRESS RELEASE : Skills – A vital link to improving UK productivity [September 1998]

    HISTORIC PRESS RELEASE : Skills – A vital link to improving UK productivity [September 1998]

    The press release issued by HM Treasury on 22 September 1998.

    “Improving skill levels is critical to improving UK productivity and therefore to growth and higher living standards for all.” This was the message from the seventh in the series of seminars aimed at boosting UK productivity.

    The seminar was hosted by the Chancellor Gordon Brown, the Secretary of State for Education and Employment, David Blunkett, and Secretary of State for Trade and Industry, Peter Mandelson.

    It was addressed by Larry Katz, the distinguished US economist and former chief economist to the US Department of Labor and looked at how the generation and utilisation of skills affects UK productivity performance.

    Commenting, the Chancellor said:

    “Improving skill levels is critical to improving UK productivity. To keep pace with the rapidly advancing needs of technology we need more and better skilled people. This means that we need training that is flexible, innovative and responsive to the needs of business and employees. Public and private sectors must work together to ensure that we have an education and training system that delivers.”

    Mr Blunkett said:

    “Raising the skill levels of the workforce is one of the government’s central economic objectives. Skills are the key to our future economic prosperity, bringing better jobs and higher living standards. We have made a good start in raising standards in our schools and in developing lifelong learning. But I want us to continue to improve, working with employers and employees. The Skills Task Force, which produced its first report this month, will help us identify where the main skills gaps are and how they can be bridged.”

    Mr Mandelson said:

    “Peoples’ knowledge and the ability to share and exploit it will become increasingly important, as we move towards a knowledge driven economy. To meet the demands that this will place on both the workforce of today and of tomorrow, we have to place a higher value on skills and the acquisition of knowledge than we currently do. It is only by building on and using people’s skills that we will be able to compete effectively.”

  • HISTORIC PRESS RELEASE : More effort needed in pensions review – Patricia Hewitt [September 1998]

    HISTORIC PRESS RELEASE : More effort needed in pensions review – Patricia Hewitt [September 1998]

    The press release issued by HM Treasury on 21 September 1998.

    There has been further progress in dealing with priority cases among the firms, involved in personal pensions mis-selling, monitored by the Treasury, Economic Secretary Patricia Hewitt said today.

    Of the 29 firms, whose results to the end of August are published today, only seven have resolved less than 75 per cent of their priority cases. Four of the those seven are networks of independent financial advisers. In March only 7 of the firms monitored by the Treasury had resolved over 75 per cent of their cases.

    Ms Hewitt said:

    “These results show what can be accomplished when real effort is put in by the firms. Every one of these firms must now focus on the deadline of the end of the year for completing their priority reviews. I want all these firms to demonstrate to their customers, in the most practical way possible, that they are putting things right.”

    The Treasury’s published figures mainly relate to cases involving older investors, including those who have retired. In August the Financial Services Authority (FSA) published guidelines on how firms should review cases of younger investors.

    Commenting on the FSA’s initiative, the Minister said:

    “It is now time for firms to start gearing up for the second phase of work on remedying mis-selling of personal pensions. I want to see all firms prepared and ready to go at the start of next year. There must be no return to the foot dragging which accompanied the start of the phase I review.

    “And frankly I am appalled at the attitude of some independent financial advisers to the task ahead. Their campaign to stop the phase 2 review shows a total disregard for their customers’ welfare and does them no credit.”

  • PRESS RELEASE : Meaningful dialogue must end the cycle of violence across Israel and the Occupied Palestinian Territories [December 2022]

    PRESS RELEASE : Meaningful dialogue must end the cycle of violence across Israel and the Occupied Palestinian Territories [December 2022]

    The press release issued by the Foreign Office on 19 December 2022.

    Statement by Ambassador Barbara Woodward at the Security Council Briefing on the Middle East.

    Thank you, President, and I thank Special Coordinator Wennesland for his briefing.

    Six years ago, the Security Council agreed Resolution 2334. The UK re-affirms its commitment to the core tenets of that text:

    First, the status quo is not sustainable, and urgent action is required to maintain the viability of the Two-State Solution;

    Second, all acts of violence against civilians, including acts of terror, provocation and destruction, must be prevented; and

    Third, Israel must immediately and completely cease all settlement activities, including in East Jerusalem.

    President,

    Meaningful dialogue must end the cycle of violence that continues to have a devastating effect on the civilian population across Israel and the Occupied Palestinian Territories.

    The death of 16 year-old Jana Zakaran on 12 December in Jenin during an Israeli arrest operation is another tragic reminder of the human cost of this ongoing conflict. We urge Israel to exercise maximum restraint in its use of live fire. Israel and the Palestinian Authority must work together to de-escalate, continue the crucial security cooperation and bring to an end appalling violence we have seen in 2022.

    President,

    The past month also saw the demolition of a donor-funded school in the South Hebron Hills. A second school funded in part by the UK is also threatened with demolition. The UK condemns all demolitions by Israel in the Occupied Palestinian Territories, including in Area C.

    The Oslo Accords are clear – Area C should be gradually transferred to Palestinian jurisdiction. I call on Israel to avoid unilateral actions and to meet its obligations under international humanitarian law by providing a clear, transparent route to construction in Area C.

    I urge donors to provide urgent support to UNRWA in closing the agency’s critical funding gap this month. UNRWA is a critical role to regional stability.

    President,

    The UK remains a firm supporter of a two-state solution, based on 1967 lines and Jerusalem as a shared capital, as the only way to ensure a lasting peace between the parties. I encourage all parties, and the international community, to take actions that are helpful in bringing the parties back to a productive dialogue.

    Thank you.

  • PRESS RELEASE : Rishi Sunak meeting with Prime Minister Kallas of Estonia [December 2022]

    PRESS RELEASE : Rishi Sunak meeting with Prime Minister Kallas of Estonia [December 2022]

    The press release issued by 10 Downing Street on 19 December 2022.

    Prime Minister Rishi Sunak held talks with Estonian Prime Minister Kaja Kallas today, following the JEF Summit in Riga.

    Speaking on the plane from Latvia to Estonia, the Prime Minister underlined the UK’s commitment to Estonia’s security as its NATO framework nation and said he was pleased we had been able to increase the lethality of the battlegroup that remained in Tapa, which sent a strong deterrence message to Russia.

    Turning to the trade and technology relationship, the Prime Minister said he was delighted to be able to sign the agreement of a Tech Partnership between the UK and Estonia today. It was important like-minded, technologically advanced countries like the UK and Estonia continued to strengthen cooperation in technology fields, he added.

    The leaders both looked forward to visiting troops in Tapa together this afternoon.

  • PRESS RELEASE : Rishi Sunak meeting with Prime Minister Kariņš of Latvia [December 2022]

    PRESS RELEASE : Rishi Sunak meeting with Prime Minister Kariņš of Latvia [December 2022]

    The press release issued by 10 Downing Street on 19 December 2022.

    Prime Minister Rishi Sunak met Krišjānis Kariņš in Riga today to thank the Latvian leader for hosting a successful Joint Expeditionary Force (JEF) summit.

    The Prime Minister welcomed the already strong defence cooperation between the UK and Latvia. Both agreed on the importance on continuing to strengthen that cooperation in the future.

    Discussing the opportunities to strengthen bilateral ties, including in the digital and medical technology industries, the leaders agreed to work together to accelerate the trade relationship between both nations.

    The Prime Minister added that he hoped to welcome Prime Minister Kariņš to the UK soon, where there is a large Latvian diaspora community.

  • PRESS RELEASE : Record year for Armed Forces Covenant [December 2022]

    PRESS RELEASE : Record year for Armed Forces Covenant [December 2022]

    The press release issued by the Ministry of Defence on 19 December 2022.

    The UK is one step closer to becoming the best place in the world for veterans, as a new report reveals more than 1,600 organisations have signed the Armed Forces Covenant this year.

    The Armed Forces Covenant and Veterans Annual Report, published by the Government today and covering the period 2021-2022, details the key improvements and progress on the Covenant’s core goals. These goals include improving the lives of service people and their families, and the Government’s commitment to make the UK the best place in the world to be a veteran by 2028.

    The Covenant is a pledge by those that sign to ensure that members of the Armed Forces community have the same access to government and commercial services and products as any other citizen; this year signatories include Leeds United F.C. and the Ocado Group.

    This is the 11th Annual Report on the Armed Forces Covenant, since its introduction as a statutory requirement in the Armed Forces Act 2011, and is the second integrated report between the Ministry of Defence (MOD) and the Office for Veterans’ Affairs (OVA) in the Cabinet Office. Since its inception the Covenant has gained nearly 10,000 signatures and to date every Local Authority in Great Britain has signed it.

    Minister for Defence People, Veterans and Service Families, Dr Andrew Murrison, said:

    The Annual Report shows the Covenant continuing to go from strength to strength. Partners across the UK have been working hard to support those who currently serve, have served and their families.

    So it’s a big thank you to all those organisations who have worked tirelessly to use the Covenant and the nation’s commitment to veterans as a springboard to improve the lived experiences of our Armed Forces community.

    Minister for Veterans’ Affairs Johnny Mercer said:

    The Armed Forces Covenant is a key way in which organisations from across society can support our veterans.

    We’ve seen good progress this year, in particular in the areas of healthcare, with the inclusion of veterans health in GP training.

    I look forward to building on these successes in 2023.

    Highlights from this year’s report include:

    • Armed Forces Covenant signings are rapidly approaching 10,000, with 1,634 signings over the last 12 months.
    • A £5 million Veterans’ Health Innovation Fund has been launched. This will support organisations looking to research and trial cutting-edge technology which could help veterans with complex healthcare needs.
    • The inclusion of veterans’ health in the GP training curriculum and national GP licensing assessment in England and Scotland.
    • The Office for Veterans’ Affairs published the Veterans’ Strategy Action Plan 2022-24, setting out over 60 commitments, with over £70 million of additional funding from across Government to further improve the lives of our veteran community.
    • A further 528 GP surgeries have been accredited as ‘veteran-friendly’, taking the total to 1,578.
    • The Government also fulfilled its 2019 manifesto commitment to ‘further incorporate the Armed Forces Covenant into law’.

    Alongside this, the report celebrates the introduction of a new legal duty further reinforcing Defence’s unwavering commitment to its people. This duty places a legal obligation on specific public bodies to have due regard to the Covenant principles when delivering certain services, or deciding certain policies, in healthcare, education and housing, that could impact the Armed Forces Community.

    The report also details how support has extended right across the UK with the first Veterans Commissioner for Wales being appointed, thus ensuring every nation has an independent voice-championing veteran.

  • PRESS RELEASE : £60 billion funding package for councils in England to deliver vital services [December 2022]

    PRESS RELEASE : £60 billion funding package for councils in England to deliver vital services [December 2022]

    The press release issued by the Department for Levelling Up, Housing and Communities on 19 December 2022.

    The provisional local government finance settlement has confirmed an almost £60 billion package for councils in England for the next financial year.

    • Levelling Up Secretary confirms £59.5 billion funding package for councils – a 9% increase on the previous year
    • Government stands behind local authorities and households in challenging times
    • Health and social care prioritised with additional grant of around £2 billion
    • Alongside the settlement, a new £100 million scheme for councils will protect the most vulnerable households from council tax rises

    The Levelling Up Secretary Michael Gove has today (19 December 2022) confirmed an almost £60 billion package for councils in England for the next financial year to ensure that councils can continue to deliver vital frontline services.

    The settlement means councils across England will benefit from an additional £5 billion – a 9% increase on last year’s settlement – as the government continues to stand behind councils and public services in the face of financial pressures.

    The agreement for next year includes a one-off Funding Guarantee that ensures every council in England will see at least a 3% increase in core spending power before any local decisions around council tax are taken. Alongside this, government is today confirming a new £100 million scheme for councils to protect the most vulnerable households from council tax rises – delivering on the manifesto commitment to protect local taxpayers from excessive increases.

    Social care is being prioritised too, with the government providing £2 billion in additional grant funding for adult and children’s social care for 2023/24. There is also £300 million for NHS England to help boost capacity by easing patient discharge.

    After listening to councils, the government has offered greater certainty up to 2024/25, outlining spending over the next 2 years, which will allow town halls to plan ahead with confidence.

    Levelling Up Secretary Michael Gove said:

    Local government plays an absolutely vital role in helping us to level up, support the most vulnerable, and deliver key services that people rely on every single day.

    We recognise the pressures councils are facing right now and this spending boost will provide the support and funding local authorities need to continue delivering first rate public services.

    The provisional finance settlement includes:

    • A generous total funding package for councils. Almost £60 billion for the next financial year – marking an increase of 9% on 2022-23 – will enable councils to plan ahead with more certainty and continue to deliver key services for residents.
    • More funding to areas that need it most. The most relatively deprived areas of England will receive 17% more per household through this year’s settlement.
    • A real-terms funding boost across England. Taken together, the local government finance settlements for 2022/23 and 2023/24 show a real terms increase in the funding available to local government in England.
    • Support for all tiers of local government. Not only are we providing around £2 billion of additional grant funding for social care, we are also introducing a one-off funding guarantee. This will ensure that every council sees at least a 3% increase in core spending power next year before any local decisions to increase council tax rates.
    • Help for the most vulnerable in society. We are also today announcing £100 million of additional funding for local authorities to support the most vulnerable households in England. This funding will allow councils to deliver additional support to the 3.8 million households already receiving council tax support, whilst also providing councils with the resources and flexibility to determine the local approaches to support other vulnerable households in their area. This funding supports the government’s council tax referendum package, which strikes a fair balance to ensure taxpayers are not over-burdened at a time of significant pressure on the public finances.

    The provisional settlement consultation will be open for 4 weeks, closing on 16 January 2023.

    The government will provide confirmation of the final local government finance settlement in the New Year.

  • PRESS RELEASE : New deal to protect nature agreed at COP15 [December 2022]

    PRESS RELEASE : New deal to protect nature agreed at COP15 [December 2022]

    The press release issued by the Department for Environment, Food and Rural Affairs on 19 December 2022.

    Agreement reached by almost 200 countries at the UN biodiversity summit, COP15, in Canada.

    A new deal to protect nature has been agreed by almost 200 countries at the UN biodiversity summit, COP15.

    The agreement – which was finalised in the early hours of Monday 19th December in Montreal, Canada – includes a global commitment to halt and reverse biodiversity loss by 2030 and to protect 30% of land and oceans by the same date.

    The framework also commits to ending human-induced extinctions of known threatened species, such as rhinos and gorillas.

    Environment Secretary Thérèse Coffey said:

    Today’s deal is an historic milestone in protecting our natural environment for future generations.

    I want to thank our fantastic UK team of civil servants and ministers in Montreal. This deal builds on the legacy of our own COP and G7 presidencies where we put nature at the top of the global agenda.

    The UK has played a leading role in driving forward progress in negotiations throughout the summit, building on the actions agreed during the UK’s own COP and G7 presidencies, including securing the Leaders Pledge for Nature last year which commits world leaders to taking action to drive sustainable food production, end the illegal wildlife trade and tackle climate change.

    The deal comes after the commitment last week through the Donor Joint Statement to put billions of dollars towards the protection and restoration of the natural world.

    Tony Juniper, Chair of Natural England said:

    The agreement reached in Montréal today is a real breakthrough, presenting a new opportunity for humankind during the course of this decade to bend historic declines of Nature toward recovery. If we do that, not only will we save threatened species and ecosystems, but bring a range of hugely valuable benefits for people.

    We must continue to call for high ambition and work together to achieve stronger outcomes for Nature, with the priority now being all about delivery in the member countries of the United Nations, including across the nations of the United Kingdom. We are very much looking forward to supporting Government in doing that, and ensuring this agreement makes a difference on the ground.

  • PRESS RELEASE : Government announces phased mandation of Making Tax Digital for ITSA [December 2022]

    PRESS RELEASE : Government announces phased mandation of Making Tax Digital for ITSA [December 2022]

    The press release issued by HM Treasury on 19 December 2022.

    Self-employed individuals and landlords will have more time to prepare for Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA), following a government announcement today (19 December 2022).

    Understanding that self-employed individuals and landlords are currently facing a challenging economic environment, and the transition to Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA) represents a significant change to taxpayers and HMRC for how self-employment and property income is reported, the government is giving a longer period to prepare for MTD. The mandatory use of software is therefore being phased in from April 2026, rather than April 2024.

    From April 2026, self-employed individuals and landlords with an income of more than £50,000 will be required to keep digital records and provide quarterly updates on their income and expenditure to HMRC through MTD-compatible software. Those with an income of between £30,000 and £50,000 will need to do this from April 2027. Most customers will be able to join voluntarily beforehand meaning they can eliminate common errors and save time managing their tax affairs.

    The government has also announced a review into the needs of smaller businesses, and particularly those under the £30,000 income threshold. The review will consider how MTD for ITSA can be shaped to meet the needs of these smaller businesses and the best way for them to fulfil their Income Tax obligations. It will also inform the approach for any further roll out of MTD for ITSA after April 2027.

    Mandation of MTD for ITSA will not be extended to general partnerships in 2025 as previously announced. The government remains committed to introducing MTD for ITSA to partnerships in line with its vision set out in the government’s tax administration strategy.

    Victoria Atkins, Financial Secretary to the Treasury, said:

    It is right to take the time to work together to maximise the benefits of Making Tax Digital for small businesses by implementing the change gradually. It is important to ensure this works for everyone: taxpayers, tax agents, software developers, as well as HMRC.

    Smaller businesses in particular should be able to experience the benefits of increased digitalisation of Income Tax in a way which meets their needs. That is why we are also today announcing a review to establish the best way to achieve this.

    Jim Harra, Chief Executive and First Permanent Secretary, HM Revenue and Customs, said:

    HMRC remains committed to the delivery of Making Tax Digital as a critical part of our strategy for digitalising and modernising the tax system, but we want to make sure we get this right and deliver it effectively.

    A phased approach to mandating MTD for Income Tax will allow us to work together with our partners to make sure that our self-employed and landlord customers can make the most of the opportunities this will bring.

    The announcement relates to MTD for ITSA only. Making Tax Digital for VAT has already been implemented and is demonstrating the benefits to businesses and the tax system of digital ways of working.