Tag: Speeches

Steve Barclay – 2023 Speech at the Country Land and Business Association’s Rural Business Conference

The speech made by Steve Barclay, the Secretary of State for Environment, Food and Rural Affairs, on 30 November 2023.

Thank you, Jonathan.

It was great to meet with you and with Victoria in my first few days in post and as you just referenced I’m also really pleased to be able to join for my first speech as Secretary of State, here for the CLA Conference.

As a rural MP, as someone who lives with his family in the countryside, I know and appreciated, first hand how important our countryside is and I’m delighted to champion the countryside and what it contributes to our country and our way of life.

And I know in representing rural communities the CLA brings over 100 years of experience, collective expertise, the sort of first-hand knowledge you don’t acquire behind a Whitehall desk. And I want to listen and learn from that experience as we work together to exercise the greater freedom that we have in setting policy for rural areas.

And in particular to empower more, and to burden less, when it comes to running your businesses and taking care of the land.

Now, first and foremost when I think about rural communities I think of the essential importance of keeping people fed. And the resilience and food security that we saw was so essential during the Covid pandemic.

Farming contributes a whopping £127 billion to the economy. But the importance of farming isn’t just about its economic value, it’s at the heart of meeting our ambitions in terms of targets to tackle climate change, and in terms of making and securing nature and how it can thrive.

Now we have many commitments in our National Food Strategy to produce at least 60% of the food we consume, and this was backed up by the Farm to Fork Summit that was held in Downing Street in May after which we published our action plan.

And indeed we are investing £2.4 billion a year in England, in the farming sector, with a commitment to maintaining total level of support and helping farmers to be profitable whilst also producing food sustainably and protecting the countryside that we treasure.

We’re taking action on things that I know matter to you, such as supporting small abattoirs. And I can confirm that we will be launching our £4 million fund by the end of the year, and we will be working with you to increase fairness in the supply chain.

And we have consulted on updating buying standards for public sector food as well, so farmers who are part of our Environmental Land Management schemes should be well placed to benefit from any change that we may announce in the coming months.

And I have always been clear that we need to protect our farmers.

Indeed as Health Secretary, I blocked a proposal which was to allow schools to impose a vegetarian diet, because to me food is a key part and a valuable sector within the economy, but it is also an important part of our diet too.

So as Health Secretary I blocked the proposals which would have allowed the imposition of that in certain schools.

Now fundamentally, I want the way we produce food to be sustainable for people and for the planet.

And as we leave behind the EU’s bureaucratic Common Agricultural Policy, we must continue to make the most of our new found freedoms and to work with farmers – including many in this room – to design and refine new flexible and accessible Environmental Land Management schemes, focusing on Countryside Stewardship and the Sustainable Farming Incentive.

We are accepting applications for the expanded and improved Sustainable Farming Incentive with 3,000 now submitted, nearly 2,150 offers now issued and counting, 1,700 now accepted and 800 of you already cracking on.

And at Back British Farming Day, we announced that advanced payments of a quarter of the first year’s SFI will be made and indeed have been making their way to bank accounts in October and November, and more will be going out in December too.

We have already extended accessibility to ELMs for tenant farmers and we will continue to work with tenant farmers and land owners to identify and remove barriers so that you can work together effectively.

That includes allowing farming to continue on historic sites as it has indeed for centuries.

And I am delighted to say that an increasing number of farmers are now taking part in our Environmental Land Management schemes, with 32,000 Countryside Stewardship agreements successfully in place across England this year – that is a 94% increase since 2020, and over 6,000 applications have indeed been received this year.

I want to confirm that SFI will not be capped, and there is something for everyone – so I encourage all of you to take a look, and apply, if indeed you haven’t already done so.

And as these schemes grow, the sector will be increasingly well-placed to benefit from private investment in everything from woodland creation to peatland restoration as we work to reach our target of stimulating at least £500 million of private sector investment into nature recovery in England. That is each year by 2027, with the aim to rise to at least £1bn each year by 2030.

And I know that the CLA and many of your members are right at the forefront of this as well.

The first two rounds of our Investment Readiness Fund have provided grants of up to £100,000 each, to get 86 nature projects across England to the point that they are ready to attract private capital.

It is great that farmers are at the heart of around a quarter of those.

Today, I am delighted to launch a third round, that will make a further £5 million available, specifically to support the efforts of farmers and rural businesses, with individual grants of up to £100,000 that will help you to attract investment from the private sector.

Applying for one of those grants or schemes does not disbar you from the others – far from it. And our hope is that that they will be mutually reinforcing, as you choose what works best for your business.

Today, I want to say a bit more on how we are investing in modern farming techniques, infrastructure, and innovation – alongside support for further research and development.

Now this makes a difference to the productivity, to resilience, and in particular to the sustainability of businesses.

And when I visited the robotics firm Muddy Machines last week, they showed how the talent of our brightest scientists can unlock a new generation of automation.

Where there are barriers stopping game-changing innovations from getting out of labs and onto farms, whether it’s needless regulation or slow grant applications, tearing down those barriers down will be at the heart of my approach.

This year, we are investing over £168 million through 16 grant funds.

As of this summer, we have committed over £123 million of funding to industry-led research and development for agricultural and horticulture.

And today, I am delighted to announce a further £45 million of funding for farming innovation.

That includes £30 million to help farmers invest in robotics and automation to make processes like harvesting and milking more efficient, and for the first time, roof-top solar equipment to help improve the sustainability and resilience of your energy supply, and storage to help keep slurry out of our watercourses and bring down emissions.

And this follows our announcement of up to £30 million investment for the Genetic Improvement Network at the Farm to Fork summit, building indeed on the £8 million invested over the last five years and the passing of the Genetic Technology Precision Breeding Act.

And watch this space for more in 2024 when we will want to see applications for a share of further funding, specifically for testing and trialling the new technology and techniques that we want to see adopted at pace onto farms.

All of this will help us make careers in the sector more promising for the next generation who need to be trained up now, it will help maintain our world-leading animal welfare standards, it will strengthen our rural economy, and it will improve our global competitiveness as well.

And it’s not just farming that makes a massive difference to our shared prosperity. I know that the rural economy is about so much more than farms – it’s about tourism, hospitality, rural manufacturing, and of course the food sector as a whole.

From Scottish salmon and whiskey, to Welsh Lamb, to Northern Ireland beef, to English sparkling wine. Indeed when I was Chief Secretary, I sent an instruction to our embassies that they will serve English sparkling wine not French champagne.

Because British food and drink gets a massive vote of confidence from consumers around the world – with exports bringing £24 billion to the British economy, and counting.

We have had success stories in opening up new markets including securing access for British lamb to the US.

And following our commitments at the Farm to Fork Summit, we are appointing an additional five agri-food attachés to boost the UK’s agri-food exports, bringing the total number of to 16 – with new posts to help unlock key markets in northern Europe, southern Europe, Australia/New Zealand, South Korea, and Africa.

They have all just been back to the UK to make sure they are up to speed with the latest plans, and we hope to see progress in the metrics by which we measure export sales in coming months and also to help more rural businesses as they make the leap into exporting.

So in conclusion, I just want to say firstly how incredibly impressed I am by the passion and innovation showcased here – and that I will be saying more about the countryside in the months ahead.

I will continue to come and see, as I have already been doing, farms and businesses and to listen to you as we refine our schemes, and to seek to make your lives easier.

My pledge to you is that this government will always back British farmers who produce some of the highest quality food in the world, who contribute billions to our economy, and to whom we all owe a debt of gratitude for taking care of the countryside that they do.

So we are forging ahead with our new farming schemes.

And in everything we do, our aim is back a profitable and sustainable food and farming sector that supports all that you do, now and for future generations.

So, thank you for all that you do, and let us continue to work together. Let’s adopt innovation at pace, lets ensure we back British farmers.

Thank you.

December 6, 2023
PRESS RELEASE : Putting savers at the forefront and supporting the UK economy [November 2023]
The press release issued by the Department for Work and Pensions on 28 November 2023.

Thank you all for joining me today and thank you to the Professional Pensions Investment Conference for hosting me so generously. My job as Minister for Pensions is to ensure that our pension system operates to the highest standards – securing the best possible outcomes for savers. This is my duty and I take it seriously.

There needs to be a significant, transformative shift in that market. The announcements made yesterday, build on the Mansion House reforms and will:
- shift the focus of trustees, managers and employers from cost to value;
- aim to boost returns in and throughout retirement; and
- increase opportunities for investment in productive finance assets.
Through this, we aim to benefit the UK economy and give everyone a better chance of meeting their aspirations over the course of their retirement.

There’s an important agenda ahead and much more to do. With £2 trillion of assets held, private sector pensions can play a major role in boosting UK productivity and growth.

Today, I am pleased to be talking about what more we will do to deliver the long-term reforms that pension savers need. One that could potentially help an average earner have £1,000 more a year in retirement when saving across their entire career.

Automatic Enrolment has transformed workplace pension saving. It has embedded a new culture of saving for retirement at a national level.

But around 2-in-5 working age people are still under saving for their retirement. There is more to do to ensure people are saving into schemes which are helping them get the most for their retirement.

Every pension saver deserves to be confident in their workplace pensions. They must be sure that it is making the most of their hard-earned savings, is fit for purpose and offers them suitable choices that meet their needs – whichever pension scheme they are putting their money in.

To do this we need to tackle the biggest challenges facing savers today.

Many employers are still choosing their pension schemes based on convenience and fees. But investment returns need to be factored into these decisions – as we know they are critical to long-term outcomes. For example, a pot of £10,000 invested into the highest performing scheme would be worth nearly 50% more 5 years later than one invested in the lowest performing scheme.

And considering investment growth does not end when people access their savings – we want pots to grow and pay out sustainably throughout retirement.

For Defined Contribution (DC) savers, this involves making complex choices and decisions they may not understand or feel equipped to make.

Finally, we need to unlock more opportunities for schemes to invest in productive finance, supporting the UK economy and boosting member benefits. In the Defined Benefit pension market alone, there is huge potential for its £1.4 trillion in assets to work harder for members and the economy.

Our reforms will confront these challenges and help improve retirement outcomes. They place value for savers at the heart of decision-making, helping to boost returns in retirement, and contribute to the growth of the UK economy.

Together with the Government’s commitment to expand the benefits of Automatic Enrolment to younger people, our pension reforms could help an average earner who starts saving at 18 see their pension pot increase around 50% and by over £50,000 if saving across their entire their career.

Automatic Enrolment has been a huge success with over 20m employees now saving into a pension. Our publication yesterday showed pension saving was holding up despite the challenges over the last few years through Covid and increased cost of living.

I recognise though that greater investment by schemes requires even greater scale. And I am committed to the implementation of the 2017 Automatic Enrolment Review measures as a first step.

This Government supported the recent Private Members Bill, and we intend to carry out a consultation on implementation at the earliest opportunity.

Alongside this, we need to see a clear shift in the market. From consistently focusing on low-cost to centring on overall value and returns for members.

For too long, short-termism and low costs have dominated decision-making. This has meant savers potentially losing thousands from their retirement pots. Just a small increase in investment returns can lead to £1,000s more at retirement.

We want to change the tide on this.

In July we responded to the Value for Money Framework consultation and set a clear direction of travel.

The Framework will increase comparability, transparency, and competition across DC schemes. It aims to drive up standards, consolidating the market around a smaller number of well-performing, better value schemes.

It will ensure Regulators have the power they need to tackle consistent underperformance. – meaning savers do not have to remain trapped in poor performing schemes.

The statements made yesterday on Value for Money by both Regulators reaffirms our commitment to implement a Framework that drives value for savers. We are maintaining momentum in this vital area.

The Department and The Pensions Regulator (TPR) are working jointly on progressing this with the Financial Conduct Authority (FCA) and with input from across the pensions industry.

The FCA intends to consult over the detailed design and rules relating to the Framework in Spring. And as this will be a holistic framework, trust-based schemes should engage with this consultation and start to plan for implementation.

Taking this approach of evolving the framework means savers can be confident that we are building a pension system that will deliver real value – providing them with the best returns for every hard-earned pound they save.

This will go a long way towards moving from cost to value, maximising the returns for DC savers and generating the scale for investment in productive finance that will support the UK economy.

To further drive value, we must definitively tackle the issue of deferred small pots.

Currently there are at least 12 million deferred pots worth less than £1000, resulting in annual industry-wide losses of up to £225m.

Without action this problem – of wasted administration costs and inefficiency at the heart of the pension scheme business model – will only worsen.

And for savers, multiple small pots make it more difficult to engage with their overall pension, limiting and reducing their options at retirement. Or in the worst case being lost altogether.

We have taken important steps to resolve this. In the summer, we consulted on the proposed multiple default consolidator approach to address this growing problem.

Yesterday, I published our response to the consultation which confirms our intention to proceed with this approach, ensuring that eligible pension pots are automatically consolidated into a small number of authorised default consolidator schemes.

Bringing members’ eligible deferred pots together into a high-quality pension scheme that could benefit the average saver by £700 at retirement. This will help generate the scale to invest in productive finance, providing further opportunities to invest in the UK.

This is a complex and challenging policy to implement.

We will bring together experts in payroll, data specialists, and leverage knowledge from dashboards, to get the transfer and consolidation system design right.

My aim is that this will support the development of a viable and cost-effective automated consolidation process; while continuing to ensure that members interests are put first.

By complementing these reforms with a robust regulatory regime, we will ensure savers are protected.

I want to enable a more assertive, influential regulatory approach, that drives meaningful behaviour change from those looking after savers’ assets.

This starts with regulators being absolutely clear about the primacy of investing for good returns in their supervisory and enforcement approaches.

It also extends to offering greater support and expectations on trustees to fulfil their key responsibilities, including through voluntary accreditation.

And we will embed this regulatory approach for new types of schemes like Collective Defined Contribution (CDC) schemes and Defined Benefit Superfund (DB) consolidators.

This also means ensuring the regulatory environment for Master Trusts is future-proofed. Master Trusts are the engines of growth of the DC pension market in the UK. We estimate that 80% of trust-based members will be in the largest 5 Master Trusts by 2030.

Building on the work done by Mary Starks in her recent review of the Regulator, we are

working with TPR to propose a different approach to supervision, using its existing powers.

This includes investigating investment decision-making, demanding greater transparency of schemes when it comes to their investment strategies, and raising standards of trusteeship.

TPR’s approach to regulation will need to evolve with this changing market. And we will work closely with them to protect savers as schemes reach important sizes.

I am confident these changes will help drive up performance and returns, protecting member outcomes form the risk of low cost through a robust regulatory regime.

Members’ journey to retirement and what they want out of their financial provision varies. But maximising value and investment growth should not end at this point.

How pots are utilised and sustained in later life starts with the choices members make when they access their assets.

Six in ten individuals who are yet to access their DC savings do not have a clear plan for doing so. Over half of those who do access their pots take cash. Without a clear plan, this may leave future retirees at risk of doing the same where their pots could be better off invested.

We want to change this and expect more of trustees. I am pleased to confirm that our response to the consultation ‘Helping savers understand their pension choices’ reflects the strong consensus for schemes to adopt retirement products and services, configured to their members’ needs.

For those savers who can and do engage with their pensions, we will require trustees to provide a retirement income service, which will include the wrap around communications and engagement that is essential for a good service.

We will also require trustees to design and offer a pre-defined default retirement solution, informed and built around the needs of their members.

This would work for the generality of members of the scheme and be available as a choice for those that wish to select it. So that every saver can get the most out of their pension savings.

This way members will benefit from greater opportunities for their assets to stay invested in the scheme for longer, increasing the available funds for schemes to invest in UK productive finance.

And over the long-term, our ambition is that decumulation only CDCs be offered as a potential access option by schemes.

CDCs could be a big part of the future for pensions. A new type of scheme that can provide better returns for savers, allowing them to remain invested in high-growth assets for longer and better support growth.

At the same time offering members the assurance of a regular income in retirement and more predictable outcomes.

CDCs are new, but the Government is committed to working with industry to facilitate its development and expansion, unlocking CDC offers for many more savers.

A regulatory framework for CDCs is already in place. And we intend to consult on draft regulations early next year to extend this to whole-life multiple employer schemes, including Master Trusts.

Looking into the future we want to understand how we can go further to deliver better outcomes for individuals.

Our solution to deferred small pots is the first step to a simpler pension system.

A single pension saving experience, where savers are linked to a ‘pot for life,’ could bring a variety of benefits.

A Lifetime Provider Model would reduce the number of pots and could support members engagement with pensions.

It could also make decision-making easier where needed and, if combined with broader CDC provision, help bridge the gap to DB schemes.

I recognise this is a complex terrain. But we need to start the conversation now and build on the other reforms that are already in train. As the Chancellor announced yesterday, as part of our call for evidence we will explore giving savers a legal right to require a new employer to pay pension contributions into their existing pension pot if they choose to bring their pensions savings together.

Moving to such a system would take time but bringing pensions savings together will have advantages for savers, our ultimate focus.

We want your input on what elements would need to be in place to support such as system and what are the benefits and challenges in doing so.

This comprehensive package will result in fewer, better run schemes – and we expect this to unlock further opportunities for pension scheme assets to support the UK economy.

For DC schemes, where improvement in returns clearly boost incomes, the measures I have just outlined provide clear reasons for trustees to ensure they are focussed on value over cost.

In the DB market, which holds £1.4 trillion in assets under management, costs are borne by sponsoring employers and there is less opportunity to boost member benefits.

However, there is still a clear opportunity for these assets to work harder to benefit members, employers and the economy as a whole.

As part of the Government’s drive to deliver greater economic growth, we are committed to ensure that there are options in the DB regulatory regime which reward productive investment behaviour and move the focus on DB schemes from purely downside risk protection.

The revised scheme funding arrangements will make it clearer that trustees can continue to invest in a wide range of assets, including productive finance, while ensuring members benefits are protected.

They also provide additional flexibility for pension scheme surpluses to be used and managed more efficiently.

Many DB schemes have become better funded over the last decade and have moved closer towards buy-out or a surplus funding level that allows them run on comfortably. But these options aren’t appropriate for every scheme or every sponsoring employer.

We need to provide other options that allow sponsors of closed legacy schemes to focus on their core business, while protecting the pensions members have worked so hard for.

The Superfund framework, which was announced earlier this year, will provide an efficient way of effecting consolidation of these DB schemes and I was delighted to see the recent historic announcement of the first transfer of its kind in the emerging Superfund market.

Thanks to responses received from the DB Call for Evidence – today – I am pleased to announce that we intend to establish a public sector consolidator, run by the Pension Protection Fund.

This will offer an alternative for schemes which are unattractive to commercial providers. It will help unlock access to higher-growth assets in which some schemes would struggle to invest on their own.

And for schemes looking to run-on, we will look at the mechanisms for surplus extraction. We believe if it was easier and cheaper to take back funding over certain levels this would encourage more schemes to invest more in productive finance.

We understand the concerns around safeguards for members, and the opportunity to share benefits. So, we aim to launch a public consultation addressing these questions in the winter.

These options could allow members to benefit from increased pension returns and support the UK economy – both through unlocking further opportunities and access to more illiquid investments, and by enabling employers to re-invest in their own businesses or DC pensions obligations.

Today, I’ve set out the direction of travel for the future of the UK’s pension market.

I want to thank the Chancellor for his commitment to delivering these reforms and industry for their continued engagement and support.

We are strongly committed to building on these reforms to make a real difference. We estimate these changes will potentially help a median earner have over £16,000 more in retirement when saving across their entire career.

Building the path to a pension system that puts savers at the forefront and supports the UK economy.
December 5, 2023
Esther McVey – 2023 Speech on Public Appointments

The speech made by Esther McVey, the Cabinet Office Minister, in Edinburgh on 24 November 2023.

Good afternoon – it’s a pleasure to be here with you all.

This is our third event focused on increasing the diversity of our public appointments…

…but importantly it’s our first event here in Scotland…

…and it is also the first Cabinet Office event I’ve been to since arriving in post.

And I am pleased to see such a packed room.

I want to thank you for taking the time to be here today…

…we know you are all busy people, with many busy diaries only getting busier in the run-up to Christmas…

…but it is so important that you’re here.

Looking out of the window on my journey up here, I was reminded of the great variety of our country…

…the rolling hills, the countryside, the towns, the cities.

And I thought those places actually represent the diversity of the people who live in those places.

And so often, we don’t have that diversity of thought. That diversity of expression in those public bodies.

That’s what we’re trying to do today.

I’m originally from Liverpool and I lived up in Edinburgh for a while. It’s one of my favourite places. I think it is such a vibrant, exciting place.

But the Government – as part of our Levelling Up and Places for Growth agendas – needs to build the better, secure, prosperous future for this country.

An important part of my role is being the voice of the people in the very centre of Government…

…and that means that I need to ensure that this bright future I’ve described for every single citizen across the country.

Our UK-wide Public Bodies are a vital part of this work…

…including those Scottish Arms Length Bodies…

…and therefore it is essential we get the best – and the right – people in the right posts to run them.

And we must all be more strategic about how we go about getting those people for those posts.

That’s why I am here today.

I’ve been reading about some of the people in this room and I will say that some of the brightest and the best from a real diversity of backgrounds and careers are here today.

Baroness Neville-Rolfe – who unfortunately could not be here with us today – told me to really focus on diversity in the broadest sense…

…that regional diversity and diversity of thought.

You can be from different parts of the country, but have the same thought patterns.

What we want is that challenge.

People bringing that perspective you don’t always hear.

Maybe being a bit more thoughtful… a bit more savvy… a bit more concentrated on a local area.

And that’s what we intend to do.

We want to break that cycle…

…of what people might describe as group think.

And what better place to do that than Scotland, what better place than Edinburgh, to do that.

We want to call out to those brilliant people from Edinburgh, Glasgow, Liverpool, Cheshire, Birmingham, Manchester, to spread their expertise across the country.

The value of the skills and expertise that people in this room will be priceless…

…and the expertise you have gained throughout your careers could benefit the public sector.

You could help our hospitals be more efficient…

…you could improve education for the very youngest children…

…also help those who want to be apprentices…

…you could ensure some of our greatest museums throughout the country get even better.

However it is not only about harnessing those skills…

… it’s also about ensuring that candidates for public appointments are drawn from across the breadth of the country.

We need diversity – as I said – of thought, of skills, and of capability.

Because it’s those sensibilities which will properly challenge the organisations they are responsible for…

But before we recognise the scale of the challenge we are doing, we owe it to you and to our public services to make sure the right support is in place.

We know that we need to be better throughout the whole process.

For example, where applicants may not be successful for a particular appointment – but may be brilliant at what they do – we need to be able to track those people and take that forward, so that maybe we can consider their expertise elsewhere.

We should never forget about your career, and ensure there’s career progression offered too.

My officials will be on hand today to discuss the upcoming opportunities…

…and we have a number of departments represented here who – I am sure – will be delighted to speak to you about roles later today.

We have some great speakers today…

…who will – no doubt – persuade you that this is something you need to go forward for.

Whether you’ve got that experience, that certain skill, or what it takes to make a real difference.

So I will hand over to the official in the Propriety & Ethics Team at the Cabinet Office…

…who will tell you what is coming up for the rest of the day.

But so you get the best out of today, rather than feeling it’s somebody talking to you or at you…

…I would like you to be an active participant in what we do.

When I do a Q&A session a little bit later, with people who are on boards, who have been on boards, please put your hand up if the questions I’m asking really aren’t the questions you want to ask.

Today is really about you.

I will also say I’ve been on that journey…

…I was Chair of the British Transport Police Authority…

…so I probably know some of the questions you’re thinking:

How do I go about it?

Is it a closed shop?

How do I do my CV?

How do I write that covering letter?

How do I really sell myself so I can be on that board.

I’ve been on this journey too… sometimes unsuccessfully, sometimes successfully.

So warts and all, I’ll tell you what it’s been like for me.

And also what I’ll say is practice makes perfect.

You’ll get into the pattern of how you answer the questions and how you tell your story…

…so people say “ah, they are the skills that I need on this board.”

Hopefully you’ll get a lot out of today, and hopefully you’ll enjoy it.

December 5, 2023
John Glen – 2023 Speech to the Transforming Infrastructure Performance Conference

The speech made by John Glen, the Minister for the Cabinet Office, on 27 November 2023.

Good morning, everyone.

It’s a great pleasure to be here with you all today.

I don’t think I could have picked a better place to give my first speech as the new Minister for Cabinet Office, because here today, in this audience, at this Live Summit, are the leaders who will create the public sector that we all vitally need – a public sector of the future.

I know you’ve all been very busy – in fact this year, we’ve recorded the biggest portfolio of projects on record. I’ve been in post now for 14 days and it was great to sit down with Nick Smallwood last week to discuss his work and understand the challenges and opportunities that he and all of you face.

It’s reassuring for me to remember, as a former Treasury minister, that in 2024/25 we are investing 30 billion pounds more in real terms than at the start of this Parliament. In fact, this year we recorded the biggest portfolio of projects on record. two-hundred-and-forty-four to be exact, with an overall worth of eight-hundred-and-five-billion pounds.

I want to thank you all for your dedication to this work. Through the teamwork between the public and private sector, we are delivering a vibrant infrastructure, one that will benefit every one of our citizens.

Whether it’s nuclear power stations generating clean energy, our prisons rehabilitating offenders giving them a chance to lead a crime-free life, or our hospitals providing critical healthcare, we are delivering for the British public.

Challenges

Your delivery is remarkable, not only for the complexity of the task, but for the challenging circumstances you’re delivering these major construction projects through.

The Covid pandemic and the war in Ukraine have created both high inflation and low affordability.

But those challenges shouldn’t deter us – on the contrary, they are the reason the projects we work on must be delivered effectively.

Public infrastructure plays a vital role in economic growth, and, indeed, it is a growth industry in itself, and we’ll need over a million new workers until 2025 to deliver the projects currently scheduled.

So, it is up to government to get those trained workers in place – the apprentices, technicians, graduates – indeed, all skilled workers, and give them the opportunity in this thriving area.

But that’s not the only opportunity we’re focused on – no, through the infrastructure you’re building we are embracing new opportunities, to be greener, to be more innovative, to be more modern than ever before.

I want to thank the IPA for their leadership here. Their ‘Transforming Infrastructure Performance’ programme describes a vision for the future in which we must prioritise societal outcomes, paving the way for sustainability, digitalisation and modernisation.

It’s the right approach to take, and we want to ensure that when people invest in our infrastructure, they’re investing in a revitalised sector. One which can withstand new challenges, adapt to and adopt new technologies, and benefit our citizens and the whole of society.

Already our net zero promises are the cornerstone of our New Hospitals Programme and the Schools Rebuilding Programme.

These are fantastic new initiatives, and they allow us to put the design and planning innovations to the test.

The government will progress the National Infrastructure Commission’s April recommendations on planning by delivering reforms to return the nationally significant infrastructure project regime to the two and a half year average consenting time achieved in 2012.

Productivity

The government will take further action by including the publishing of spatial data on major infrastructure projects for the first time and ensuring a more reliable process for updating national policy statements.

As you saw last week in the Chancellor’s remarks at Autumn Statement, we are also taking steps overall in the reform of planning – a new premium planning service, new guaranteed accelerated decision dates, and a critical national priority designation for nationally significant low carbon energy projects, which will also be a helpful intervention. As well, the reforms to the grid connection process, halving the time to build new grid infrastructure.

My new boss, The Deputy Prime Minister – and, indeed, my predecessor – spoke about the role that data and AI will play in our public services, and I believe it will have a crucial position in your sector.

We have seen how digitalisation is already being used in our infrastructure – the new prison HMP Millsike, for example, has digital and data throughout its processes. Its progress is being tracked in real-time, supply-chain progress and decisions are being digitally recorded. That means reduced cost and reduced risk – time saved and timescales on target.

The new prison HMP Fosse Way was also built 22% faster than a traditional build, all thanks to 70% of the project using modern methods of construction.

And generative AI was used on HS2 London Tunnels in Euston to shorten the build time by 86 working days, which also saved twelve-million-pounds. Better efficiency, safety and quality was the result – this is what innovation brings.

And I’m delighted to say that, next year, the IPA will launch a new benchmarking service to improve decision making, which I hope will lead to stronger business cases and greater confidence in cost and schedules – all powered by innovative practices.

Conclusion

Ladies and gentlemen, now is the time for the UK to be at the forefront of creativity, innovation and a clean future.

I passionately believe the new methods this industry has been leading on will not only provide economic stability, it will also provide opportunity throughout our regions, levelling up all public infrastructure to an excellent level.

I can promise you that, in my new role, I will always put people at the very heart of our projects, whether that is the taxpayer or business leaders, whether in a big city or a small town.

I want to reiterate my thanks to all of you – yes, we are aware of the challenges ahead of us, but I believe we have an ever more sophisticated plan to tackle them.

I look forward to a future where our TIP principles not only create thriving UK towns and cities, but are used as an example of how to create world-leading infrastructure.

And I look forward to working with you to make those ambitions – your ambitions, our ambitions – a reality.

I wish you well with your conference today and with the workshops that you will be doing later this morning. Thank you for the opportunity to make this my first speech as the minister for the Cabinet Office and Paymaster General.

December 5, 2023
Rishi Sunak – 2023 Speech at the Global Investment Summit

The speech made by Rishi Sunak, the Prime Minister, at 10 Downing Street on 27 November 2023.

“Good morning.

Welcome to Hampton Court Palace and the UK’s second Global Investment Summit.

Now, my argument today is that the UK is a modern, dynamic, thriving economy.

And where better to prove those futuristic credentials, than a 500-year-old Palace.

But this Summit is not just a sales pitch for Britain…

…although you’d better believe I’m going to give you that.

It’s also a chance for us to say: thank you.

I’ve spent my career before politics in business and finance.

And so have many of my top team, including the Chancellor.

And we know that it’s not governments that grow the economy.

It’s businesses and investors like all of you.

You create jobs; drive growth; generate wealth…

… and you even take on some of the biggest social challenges we face.

And it may be unfashionable to say…

…but I believe that your success is our country’s success.

So I really am grateful to all of you for making time to be here today.

And your presence…

…your decision to choose to invest in Britain…

…is a huge vote of confidence in this country’s future.

And I think you’re absolutely right to feel that confidence.

Because we’re setting about to make this best place in the world to invest and do business.

Now I am unashamedly proud of Britain.

Ands there’s a growing momentum in the UK right now.

Don’t just take my word for it.

PWC’s survey of thousands of global CEOs rated the UK the most attractive investment destination in Europe.

And you can see that confidence in the decisions people are making.

Like Tata, BMW, and just last week, Nissan – investing billions into automotive and electric vehicles manufacturing.

Or Microsoft, announcing today £2.5bn for critical AI infrastructure…

…in addition to all the leading AI labs who already have their European offices here.

Or the Ellison Institute of Technology, confirming today a £1bn investment into their new Oxford site..

…researching and developing new technologies, including life sciences.

And you can see that momentum too in our commitment to free trade.

In the past year alone, we’ve secured new investment partnerships with the US, Japan, and South Korea…

…worth more than £50bn.

We’ve become the first European country to join the fast-growing Trans-Pacific partnership…

And hugely benefited from the sovereign investment partnership with the United Arab Emirates…

…deploying over £14bn into the UK in a little over two years.

And all of that is why this country is one of the fastest [for] investment growth… anywhere in the G7

Now when I say this country can be the best place in the world to invest and do business…

…you should believe me and believe me because of three big competitive advantages.

Our low tax approach; our culture of innovation; and our people.

Firstly, tax.

The purest expression of this government’s economic philosophy…

…is that people and businesses make far better decisions about their own money…

…than any government could.

And I believe that by allowing you to keep more of the return on your capital…

…our country becomes more competitive as a place to invest, grow, and create jobs.

And make no mistake, we are cutting taxes.

Not only do we have the lowest rate of Corporation Tax rate in the G7.

Last week, we announced that we would make full expensing, permanent.

This means you can write off the cost of many capital investments – in full.

It makes our capital allowances regime one of the most generous in the world.

And it was the biggest business tax cut in modern British history.

And that’s not all.

We’ve got lower capital gains tax rates than France, Germany, Italy, and Japan.

Some of the most generous tax reliefs on stock options anywhere in the world.

And we’re cutting personal taxes for 27 million working people, too.

But while low taxes are crucial, they’re not enough on their own…

…to make this country the best investment destination in the world.

We’re also creating new ideas…

…and turning those ideas into the most exciting companies of the future.

And that’s the UK’s second competitive advantage: our incredible culture of innovation.

Now the story of the United Kingdom has always been about discovery and invention.

Ours is the country of Newton, Faraday, Hodgkin, and Lovelace…

…of Stephenson’s steam engine, Darwin’s theory of evolution…

…and the world wide web, invented by Tim Berners-Lee…

…who I’m delighted is attending here today.

And that tradition is still very much alive.

With less than 1% of the world’s population, we have three of the world’s top 10 universities.

The third highest number of research publications.

And the second most Nobel laureates of any nation.

And we’re turning those ideas into incredible businesses, up and down the country.

With more tech Unicorns than any country, bar the US and China.

And more venture capital than France and Germany combined.

Not that I’m in any way competitive.

But at a moment like this, when the tectonic plates of technology are shifting…

…not just in AI, but in quantum, synthetic biology, semiconductors, and much more…

…we cannot be complacent.

And that’s why we’re investing record amounts of public capital into R&D.

Also Cutting taxes for all of you that are investing in R&D.

And overhauling our listing rules to make it easier for those innovative growing companies to raise capital.

And outside the EU, we’re delivering agile regulation that is pro-innovation and pro-growth.

So, whether it’s financial services or life sciences…

…AgriTech or our creative industries…

…innovation is the golden thread running through the British economy.

But in the end, the greatest asset to any economy is its people.

And that’s the UK’s third competitive advantage.

Here at home, we’re delivering a world-class education system.

We’ve already got one of the most highly qualified workforces in Europe.

And just as your businesses are having to adapt to the economy of the future, so our skills policies are evolving too…

…with our new Lifetime Skills Guarantee, …which supports adults to retrain at any stage in their careers…

…with record funding in vocational training like apprenticeships.

But we don’t have a monopoly on talent in this country.

And we recognise that nearly half of our most innovative companies have an immigrant founder.

So if you’re an innovator, an entrepreneur, a researcher,

…you should know that the most competitive visa regime for highly skilled international talent…

…is right here in the United Kingdom.

And let me give you just one example:

Our High Potential Individual visa means…

That if you’re a young person…

Who’s graduated from a global top 50 university…

You can just come to the UK…

And stay here, with your family, for two years…

To just explore. Work. Study. Invent.

Nothing like that exists anywhere else in the world.

And that tells you everything about our pro-innovation, pro-growth, pro-business philosophy:

So that’s the opportunity here in the UK.

That’s why you should believe me when I say…

…this is the best country in the world to invest and do business.

Because of that unique combination of a competitive tax system…

Our culture of innovation…

And our people.

Now I know some people look at Summits like this and often they’re all talking shops.

But let me tell you what we’ve achieved.

This Summit has galvanised new investments in the UK economy…

…worth a total of [almost] £30bn, over three times as much as the first Summit that was held a couple of years ago.

That will support tens of thousands of new jobs right across the UK.

It will create new growth and new opportunities.

And it’s a huge vote of confidence in this country’s future.

So, thank you for choosing to be part of that future.

Thank you for everything you’re doing for this country.

with your support…

…we can and we will build an even brighter future…

…for our children and grandchildren.

Thank you.

December 4, 2023
Rishi Sunak – 2023 Statement at Gurpurab

The statement made by Rishi Sunak, the Prime Minister, on 27 November 2023.

It gives me great pleasure to wish Sikhs across the UK, in India and across the world, a Happy Gurpurab!

Today we celebrate the 554th anniversary of the birth of Guru Nanak Dev Ji, the founder of the Sikh religion. As a somebody of Punjabi Indian heritage, this day is especially dear to me.

This joyous occasion is an opportunity to once again recognise the immense contribution of the Sikh community to our country.

You are a source of pride and inspiration to us all. Waheguru Ji Ka Khalsa, Waheguru Ji Ki Fateh.

December 4, 2023
Kemi Badenoch – 2023 Speech at the Global Investment Summit

The speech made by Kemi Badenoch, the Secretary of State for Business and Trade, at Hampton Court on 27 November 2023.

Good morning Ladies & Gentlemen and welcome to the 2023 Global Investment Summit.

Thank you to everyone who has travelled from across the globe to be here today to mark the next chapter in this country’s future.

Two years ago at our inaugural Global Investment Summit, we were still in the throes of a pandemic, yet investors put a near £10 billion vote of confidence in our country because they saw the huge potential for growth that we had to offer.

It sowed the seeds for our hugely successful Northern Ireland Investment Summit in September which put Belfast and Northern Ireland firmly on the global boardroom map.

And as a growing science and technology superpower, the Prime Minister held our first-ever AI Summit earlier this month to ensure the UK is at the forefront of a pioneering world of artificial intelligence.

Now, it won’t come as news for many of you in this room, but the UK is already a fantastic place to invest. That’s why you’re here.

We are now third in the world for total inward investment, currently standing at $2.7 trillion, and are the top destination in Europe for FDI projects. We have attracted more greenfield FDI than Germany and France combined.

We also have the most valuable tech sector, only the third in the world to reach $1 trillion in value.

Last year alone we created 112,000 jobs in all corners of the UK from inward investment, with many more being created here today.

Since the Department for Business & Trade was formed just a few months ago, we have seen even greater investment in this country.

In my first few days as Business Secretary, I ushered in a momentous deal for Airbus and Rolls-Royce providing new aircraft for Air India.

In September, BMW announced a transformation of their Oxford Mini plant which secured 4,000 jobs, with Stellantis pledging £100 million for electric vehicles at Ellesmere Port.

Our investment minister Lord Johnson signed a £10 billion MoU with Marubeni just last month for green projects.

Tata Group have pledged £4 billion to create a new gigafactory site in Somerset which will transform our battery supply chains and create thousands of jobs.

And last week, we saw £21 billion of Korean investment in renewable energy, life sciences and tech during the South Korea State Visit.

And on Friday we secured £2 billion from Nissan for their sites in Sunderland, which will help secure thousands of jobs.

And that’s not to mention the global leadership we are showing in free and fair trade.

Such as joining the CPTPP trading bloc, ushering in our first post-Brexit free trade agreements with Australia and New Zealand, and unlocking £6.5 billion of fresh export opportunities across 75 markets in the last year alone.

We’re also taking huge steps to ensure that the UK’s manufacturing sector is a world leader in innovation.

Yesterday I launched our £3 billion Advanced Manufacturing Plan which will invest in the long-term future of our innovative manufacturing industry by reducing costs and removing barriers to business.

This comes off the back of the UK’s manufacturing sector leapfrogging France to become the eighth biggest in the world.

But we cannot stand still. The world is changing fast, and the global economy is a very competitive place.

Just months ago our historic trade deal with Australia came into force – since then we’ve secured £10 billion from IFM Investors and £5 billion from Aware Super to turbocharge green transition, infrastructure, tech and life science projects, as well as £100 million from Patrizia for sustainable housing projects.

As part of a total £12 billion programme, Ibedrola have today confirmed £7 billion for our world-leading renewables sector, with Partner Groups’ portfolio companies North Star and Gren committing £1 billion and £500 million for new offshore wind infrastructure and community energy projects respectively.

And the UK tech scene continues its world-leading charge, with combined investments totalling nearly £6 billion from Microsoft, BioNTech, Yondr, the Ellison Institute, Aira, Oxford Quantum Circuits and MediaTek.

These investments total nearly £30 billion – a colossal vote of confidence in the UK, proving further how we are one of the best places in the world to invest.

But I want to take this further.

I want the UK to be even more innovative, even more dynamic and even more successful. I want business to look at the UK and see it as a dynamo for investment, free trade and growth.

I have said that my door is always open. My office is called the Department for Business.

I want your ideas on how we can create a more friendly common-sense regulatory environment; what things we should be doing differently rather than sticking to the status quo.

I want to move away from just seeing regulation as the solution, and focus instead on solving your problems.

The numbers speak for themselves, and at today’s summit you will see why we’re already on the path to even greater things.

I’m delighted to welcome the Prime Minister, Rishi Sunak, to the stage to tell us more.

December 4, 2023
Steve Barclay – 2023 Speech at the International Grain Conference

The speech made by Steve Barclay, the Secretary of State for Environment, Food and Rural Affairs on 25 November 2023.

Thank you to President Zelenskyy for hosting this important summit.

To say that we Brits have been inspired by the resilience, courage and indomitable spirit of the Ukrainian people would be a typically British understatement.

Your resilience honours the memory of the millions of innocent Ukrainians who lost their lives in the Holodomor – some 90 years ago.

And now, while Russia’s full-scale invasion is having a ripple effect on global food security – nowhere have the impacts of Putin’s aggression been felt more keenly than here, in Ukraine.

In the wake of the destruction of the Nova Kakhovka dam this summer, that left tens of thousands of Ukrainians in need of food, water, and basic supplies, I am proud that the UK was able to provide additional £16m of support – including response teams, pumps, and temporary barriers, that helped Ukrainian emergency workers deflect water and protect critical infrastructure like hospitals and schools.

Of course, flooding across 100,000 hectares land has had an untold impact on Ukraine’s wildlife and habitats, and on important grain and oil crops as well.

And amid the turmoil of war, the determination of Ukrainian farmers to get much of the harvest in, here in the breadbasket of Europe and your initiative to get the grain from Ukraine to some of the poorest and most vulnerable in the world, at a time when Ukrainians themselves are suffering so much – this demonstrates the very best of humanity.

And indeed, this work is immensely and increasingly important.

Even before this terrible conflict began, already, the number of people going hungry was on the rise – with around a billion people affected worldwide.

The number of people facing the consequences of severe drought – including conflict – is on the rise as well, with the impact of emergencies across the Horn of Africa and the Central Sahel falling disproportionately women and girls.

45 million children now suffer from acute malnutrition at any given time – and this preventable, life-threatening condition remains one of the biggest contributors to childhood deaths.

That means children under five are succumbing to common childhood illnesses that a well-nourished child would fend off, and simply wasting away, bringing profound and lasting impacts for the rest of their lives. So, I want to thank the Government of Ukraine for bringing us together to help change that.

Putin’s efforts to pitch us against one another must fail, and let us be clear – that is exactly what he wants to do.

The Black Sea Grain Initiative had enabled the export of 33 million tonnes of food from Ukraine, to 45 countries around the world – and until this summer, the World Food Programme procured 80% of its global wheat grain from Ukraine.

Yet as well as scuppering that initiative in July, Putin has attacked Ukrainian civilian grain and port infrastructure – systematically destroying more grain in attacks on Ukrainian ports than Putin promised to donate to African countries, with some 280,000 tonnes of grain gone, and counting – that is enough to feed over a million people, for a year – inflating global grain prices to boost the value of Russian exports and line the Kremlin’s coffers.

And all for the sake propping up Russia’s murderous war machine.

So much for solidarity. In the face of Putin’s crocodile tears – our focus remains resolutely on the real solutions we need.

That is why the £2m Grain Verification Scheme is part of the work that the UK has led through the G7 – to help identify stolen grain and frustrate Russia’s efforts to profit from theft.

The UK Ministry of Defence is working to establish a comprehensive Intelligence, Surveillance and Reconnaissance operation in the Black Sea – to deter Russian attacks on cargo vessels.

We have developed an innovative insurance facility with a UK insurer for ships using Ukraine’s humanitarian corridor to help scale up exports.

And I am proud that the UK was the first country to liberalise all tariffs on imports of Ukrainian goods in support of your economy as well – alongside our wider commitments at the Ukraine Recovery Conference in London earlier summer.

Our Prime Minster, Rishi Sunak, has announced £3m for the World Food Programme – building on our earlier contributions to President Zelenskyy’s initiative.

This time last year, the UK contributed £5m to this scheme, which funded the delivery of 25,000 tonnes of grain to Kenya.

Together, contributions from all donors to the scheme have brought 170,000 tonnes of relief to communities in Kenya, Somalia, Ethiopia, and Yemen.

The UK’s contribution of £3m – which equates to $3.7m – will fund a shipment that will get grain from Ukraine, to those who are suffering from acute food insecurity in Nigeria, taking the UK’s total military, humanitarian and economic support for Ukraine to £9.6bn, since the start of the invasion.

In short, the British people continue to stand shoulder to shoulder with you, here in Ukraine, and with those affected around the world, and if we all continue to stand together – in defence of the freedom, democracy, and common decency that we treasure so deeply – then together, we will prevail.

Thank you.

December 4, 2023
David Cameron – 2023 Statement on Israel-Hamas Hostage Agreement

The statement made by David Cameron, the Foreign Secretary, on 22 November 2023.

This agreement is a crucial step towards providing relief to the families of the hostages and addressing the humanitarian crisis in Gaza.

I urge all parties to ensure the agreement is delivered in full. Of course, we want to see all hostages released immediately and families affected by the horrors of the October 7th terror attack reunited.

This pause provides an important opportunity to ensure much greater volumes of food, fuel and other life-saving aid can reach Gaza on a sustained basis. We have already doubled our aid commitment to Palestinians this year and will work closely with the UN to ensure it reaches those who need it.

The UK will continue to work with all partners in the region to secure the release of all hostages, restore security and reach a long-term political solution which enables both Israelis and Palestinians to live in peace.

December 4, 2023
Stuart Andrew – 2023 Speech at the Bacta Annual Conference

The speech made by Stuart Andrew, the Gambling Minister, on 22 November 2023.

Good morning. I am delighted to join you today ahead of a wide ranging discussion about the future of the arcade and amusement sector.

I want to start by telling you something that of course you already know: the economic benefits of the arcade and amusement sector are huge. The sector produces a collective economic turnover of £1.6 billion and supports thousands of jobs across the United Kingdom.

From the arcades supporting our high streets and seaside towns, to the single site operators and manufacturers, all of these play a significant role in supporting employment and helping our local economies thrive.

Our white paper, which we published earlier this year, recognised the importance of the sector. It outlined our ongoing commitment to supporting you after a challenging few years following COVID-19 and rising energy prices. We hope that the measures we are taking will enable the sector to continue to operate sustainably now and over the coming years.

I recognise the commercial challenges you are facing, and I believe that the modernising measures we are taking will help to support that move towards a brighter future.

Many of you here today will be keen to understand the progress we have made on the land-based gambling proposals set out in that white paper.

Last month we closed the government’s land-based gambling consultation, which included our proposals for the reform of the 80/20 rule, the introduction of direct cashless payments on gaming machines, and our commitment to introducing an age limit on ‘cash out’ Category D slot style machines – something which I know Bacta members already adhere to.

The consultation sought views on a range of policy proposals, which were designed to support the arcade and amusement sector. I would like to personally thank all of you who have responded. The evidence you supplied is essential for ensuring that government policy is evidence-led, and takes into account the real world impact that these policies will have on the day-to-day operations of your businesses.

I would also like to thank Bacta for their continued engagement throughout the consultation process. By bringing together a diverse range of voices, and representing its members so effectively, Bacta is able to provide valuable insight to us. This provides us with the confidence that we are hearing the views of the sector as a whole.

In terms of the proposals themselves, I appreciate that many of you will be eager to understand what happens next. I am afraid that you will need to wait a little longer for the government response to confirm our chosen policy direction.

However, I would like to reiterate that the intention behind all of our proposals is to ensure that industry can operate sustainably now and into the future, whilst also ensuring that there are appropriate safeguards in place to protect the minority of customers who experience gambling related harm.

I would especially like to thank the Gambling Commission and local licensing authorities for their work in creating a regulatory environment which minimises the risk of gambling related harm, making Great Britain one of the world leaders when it comes to standards.

I understand Andrew Rhodes will be speaking to you later today and I am sure he will be getting a bit of a grilling, as I am sure I am.

I know that the reform of the 80/20 rule is of significant interest to many of you here today.

Our white paper and consultation recognised that the 80/20 ratio of low to medium stake gaming machines is no longer fit for purpose.

We fully recognise that you believe that this current ratio does not allow you to meet customer demand, and that this has led to the maintenance of large numbers of machines, which are underused but energy intensive. This situation is undesirable for both businesses and the consumer.

We therefore proposed to modernise this ratio to better reflect customer demand. But we have a responsibility to ensure that customers are presented with a genuine offer of lower stake gambling opportunities in order to maintain a safe gambling environment.

To help inform decision making around commercial flexibility and a genuinely balanced product offer, we have sought additional evidence. This includes the consultation as well as an industry data request concerning the use and functionality of different categories of machines. My department and I are extremely grateful to Bacta and other trade bodies for their willingness in sharing such evidence. The data we have received will help ensure that our policies continue to be evidence led, and we will consider it alongside the consultation responses to arrive at a balanced and measured solution.

I appreciate the concerns that John has raised regarding Option 2 and the strong views that have been expressed about this proposal. That is why, in part, to make this policy a success, it has been essential to gather a wider range of evidence through a rigorous consultation process. That is why we also consulted on removing the 80/20 rule entirely. This process will provide us with the confidence that our policy changes will deliver on the white paper priorities of modernising the sector, while maintaining appropriate safeguards against gambling harm.

I am sure many of you will be pleased to see that the government has committed to allowing cashless payments to be made on gaming machines.

Payment methods have shifted substantially in recent years, with many customers on the high street no longer carrying cash as they used to. Having visited Novomatic and Merkur’s high street arcade venues in Hammersmith, I appreciate that there are ways for customers to use their card through things like ticket-in-ticket-out machines.

However, the current prohibition on the direct use of debit cards on machines is out of step with how people expect to be able to pay for things. The ability to use debit cards on gaming machines is a necessary modernisation to ensure that the sector is able to keep up with changing consumer preferences.

As you will appreciate, such a significant transition will not be achieved overnight. There will be technical challenges that manufacturers and operators will need to work through together.

However, we will set out a framework of minimum standards that must be adhered to if a machine is to accept direct cashless payments. Central to this framework is the need to ensure strong player protections are in place to safeguard against gambling harm.

The evidence provided through consultation has been extremely helpful in shaping our thoughts on this and we will set out more details in the government’s response to the consultation.

The final measure which I would like to touch on is our commitment to introducing an age limit on ‘cash out’ Category D slot style machines. This measure is essential for ensuring that children and young people are not exposed to the risks associated with underage gambling.

As Bacta members, I would like to thank all of you for leading the way on this issue. The voluntary ban undertaken by Bacta members on under 18s in 2021 was an important step forward.

We are now legislating on this to ensure that all venues, including those outside of the Bacta membership, adhere to these standards.

I am aware that some of you have expressed concerns about any potential requirement that these machines may be moved to an age-restricted area. I would like to reassure you that we have made no such proposal to do this. We recognise the value of maintaining these machines on the floors of Family Entertainment Centres for the use of adults, while their children enjoy penny pushers and the various other amusements that these venues have to offer.

I am sure many of you are keen for further clarity on the measures and an understanding of the timelines for implementation. My officials are currently analysing the responses submitted through consultation. We intend to publish the government’s response in early 2024, which will outline our precise policy direction on all of these issues.

All of the measures outlined above will require secondary legislation, and we intend to take the necessary steps to implement these measures by summer 2024. As with all secondary legislation, these timelines will be dependent on parliamentary time.

In addition to the land-based consultation, we also recently launched a consultation on the statutory levy, the third consultation that we committed to delivering in the white paper.

The introduction of the statutory levy is an important counterpart to the broader suite of regulatory protections we and the Gambling Commission are implementing. While we would all agree that we want to prevent harm before it occurs, it is also crucial that the public has access to the right help if and when they might need it, and that regulation is informed by quality and timely research.

I want to see increased, independent, sustainable funding to be directed where it is needed most. This will ensure that people across our country can make informed decisions about their gambling and know where to turn for support should they need it. We have proposed a levy rate of 0.1% to be paid by land-based arcades, which is less than the rate proposed for online gambling operators, betting shops and casinos. We believe that this is proportionate approach and should not place undue burden on the sector.

As for the manufacturers, single-site operators and distributors, I understand your concern regarding the proposed 0.4% levy rate. The legislation is clear that the levy needs to be paid by all those with a licence. However, we want the structure to be clear, fair and proportionate. We are keen to hear from industry and will take all evidence we receive into consideration when making a final decision.

That consultation closes on 14 December and, if you haven’t done already, I encourage you all to submit a response.

Thank you once again for inviting me to speak today, and I hope that the rest of today’s discussions are productive. I hope that in my time as the Minister I have shown that my door is open and it will remain open as we continue to deliver what I hope will be the right policies for a sustainable future.

I will now be joined by Sarah Fox, DCMS’s Deputy Director for Gambling and Lotteries. We would be very happy to take any questions you may have about the gambling review and the measures the government is taking to support the sector.

December 4, 2023