Tag: Treasury

The press release issued by HM Treasury on 5 September 1999.

John Healey MP (Wentworth) has been appointed as Parliamentary Private Secretary to Chancellor of the Exchequer Gordon Brown.

Educated at Christ’s College, Cambridge, Mr Healey was a journalist/deputy editor for the House Magazine from 1983-84. He was a disability campaigner for three national charities from 1984-90 and campaigns manager at Issue Communications from 1990-92. From 1991-94, Mr Healey was a part-time tutor for the Open University Business School, and was Head of Communications at MSF Union from 1992-94. Mr Healey was Campaigns Director of the TUC from 1994 until he entered Parliament as MP for Wentworth on 1 May 1997.

Born in 1960, Mr Healey is married with one son.

The press release issued by HM Treasury on 15 September 2022.

Financial Secretary to the Treasury Stephen Timms today called on American entrepreneurs to invest in Britain and tap into first class British research into information technology and biotechnology.

Speaking at Stanford University, California, to an audience of some 400 American entrepreneurs and venture capitalists, Mr Timms said:

“This Government has set out to build a new Britain which will be modern and decent – a thriving, knowledge-based economy, and one where every person has the chance to play their full part. It has become very clear to me today that we have a great deal to learn from what is happening here about how to build a modern economy, but also about how to build a decent society as well.

“There is one message I should like to impress upon you. That is there are great opportunities today for venture capital investment in the United Kingdom, which I hope a number of you will explore.

“The quality of research in the UK has always been very high – especially today – in information technology and biotechnology. In the past it has been severely under exploited.

“We are determined to change that. We are taking major steps to promote the commercialisation of the research produced by our universities. Universities like Cambridge are themselves promoting entrepreneurship. And we are taking new steps to promote the commercialisation of the research produced in other public sector research establishments. Underpinning such initiatives we aim to transform the whole business environment in the UK.

“There is compelling evidence that our new macroeconomic policy framework has delivered an economic stability that has eluded British Governments for 30 years.

“We are learning from the models that you have pioneered to adapt a new quality of partnership between business and Government that will address the big issues that face us both.

“We are introducing new tax incentives to encourage individual entrepreneurship and corporate venturing.

“Earlier this week the Prime Minister, Tony Blair in a major speech in Cambridge set out how we are building an environment for e-commerce to match the best in the world.

“It adds up to a huge opportunity for investment. The UK is the biggest overseas investor in the United States, and the US is the United Kingdom’s biggest trading partner. About half the venture capital investment in Europe today is in the UK, and half of that is provided from the US.

“So the foundations are in place and the potential is immense. We want to work with you – the British Consul General is here to work with you – to see that potential realised.

“Britain is open for business – come and join us.

“Thank you again for your welcome.”

The press release issued by HM Treasury on 14 September 1999.

Help is at hand for public sector procurement officers as a new guide to help public sector improvement in procurement standards was launched jointly today by Chief Secretary to the Treasury Alan Milburn and Minister of State at the Cabinet Office Ian McCartney.

The Procurement Excellence Guide will be applied across the public sector to test the effectiveness of their procurement activities by measuring performance and achieving continuous improvement in their operations.

The guide will provide the basis for measuring the effectiveness of the recently announced Office for Government Commerce and Departments in pursuing savings of up to £1 billion over the next three years.

Chief Secretary to the Treasury Alan Milburn said:

“Procurement plays a key role in the efficient and cost effective delivery of goods and services of any organisation. It is only right that we strive to deliver a well run public sector organisation that gives the taxpayer value for money. This Excellence guide gives us the means to measure procurement performance, a key factor in improving delivery of the services the public sector provides.

“Public sector organisations now have the chance to demonstrate their ability to be at the leading edge of procurement development. This will allow for a cohesive approach across all areas of the public sector including central government, local government and the National Health Service and to improve best practice and delivery functions.”

Minister of State at the Cabinet Office Ian McCartney said:

“This publication of the guide is an important part of the Modernising Government agenda, which commits us to delivering responsive and high quality public services. The guide gives public sector organisations the means to measure procurement performance, a key factor in improving the delivery of services.

“The guide shows how the European Foundation for Quality Management’s Excellence Model® can be applied to particular functions as well as to particular organisations. I am sure it will encourage procurement staff throughout the public sector to use this Model to improve procurement practices.”

The Procurement Excellence Guide has been tailored for public sector procurement and emphasises the key role that procurement plays in the efficient and cost effective delivery of goods and services that public sector organisations need.

The Procurement Excellence Guide builds on expanding use of the European Foundation for Quality Management Excellence Model® by public sector organisations, as a means of measuring performance and achieving continuous improvement in their operation.

The European Foundation for Quality Management’s Excellence Model® is an important part of the Modernising Government agenda. The Model was revised in April 1999 and is wholly applicable to the public sector. Over 90 per cent of public sector users of the Model report that their performance improvement rate increased as a result of using the Model.

The press release issued by HM Treasury on 10 September 1999.

The Chancellor Gordon Brown has been appointed as the new chairman of the Interim Committee of the International Monetary Fund.

The Prime Minister welcomed the news and said:

“This is a tremendous accolade both for the Chancellor and for Britain.

“It shows the high regard in which Gordon is held both at home and abroad, the leading influence of British ideas in the international financial community and his personal leadership on issues such as Third World debt.”

The Committee was established in 1974 to advise the IMF on the management of the international monetary system as well as dealing with any sudden shocks to the system. The Chancellor replaces Carlo Azeglio Ciampi who resigned in May 1999 when he became President of Italy.

The Chancellor said:

“I am looking forward to working with my international colleagues to ensure the Committee plays an effective role in the international monetary system and in the governance of the IMF.

“This is an important time for international financial institutions and I am looking forward to leading the debate about reforms to the Committee to give it a permanent standing as well as further reforms to bring greater stability to the international financial system.”

The Chancellor will lead the discussions on reform of the Interim Committee following proposals put forward by the G7 Finance Ministers earlier this year. Those proposals included putting the Interim Committee on a permanent footing and giving it the name ‘International and Financial Monetary Committee.’

Discussions will also focus on a number of reforms to the international financial architecture, including involving the private sector in crisis prevention and resolution within the international financial system and the Heavily Indebted Poor Countries Initiative to help relieve Third World debt.

The press release issued by HM Treasury on 10 September 1999.

Better communication and exchange of information between national financial regulators will help protect investors in cross-border dealings involving UK and Turkish investments, Economic Secretary Melanie Johnson said today.

Announcing the eighth such bilateral agreement to be reached, Miss Johnson said;

“I welcome this Memorandum of Understanding on international regulatory co-operation between the UK and Turkey. The agreement, between the Treasury, the Financial Services Authority, the London Stock Exchange, and the Capital Markets Board of Turkey, will help in the process of protecting investors in our two countries.

“This will add to the existing agreements with the US, Australian, Swiss, Hong Kong, Japanese, Chinese, Russian, and EU authorities in enhancing the attractiveness of the City of London as a major financial centre dealing with counterparts around the world and encouraging more Turkish companies to list in London.

“This agreement will seek to protect investors and promote the integrity of financial markets by providing a framework of co-operation between regulatory authorities.

“This framework will provide clear channels of communication, enhance mutual understanding, and allow the regulatory authorities to provide each other with investigative assistance and exchange confidential regulatory information.

“This should assist the enforcement of laws, rules, and regulations in the field of securities, and help tackle any insider dealing, market manipulation, or other fraudulent and deceptive practices.”

The press release issued by HM Treasury on 8 September 1999.

As announced in the Budget, work is getting underway to introduce a Graduated Vehicle Excise Duty (VED) system for new cars based primarily on their emissions of the greenhouse gas carbon dioxide.

The Driver and Vehicle Licensing Agency (DVLA) will shortly be opening technical discussions with a range of bodies so that the environmental information upon which the new system is to be based can be collected when a new car is registered and then used in the new VED system.

As announced by the Chancellor in his March Budget, the system will apply to cars first registered from Autumn 2000, and will be introduced on a revenue neutral basis. It forms part of the Government’s effort to encourage motorists and manufacturers to buy and make greener vehicles.

As the Government proposed in a consultation document last November, there will be four VED rate bands according to their rate of emission of carbon dioxide — which is linked directly to fuel efficiency — with the potential for example to reward less-polluting fuels.

Cars first registered before the new system is introduced will continue to be taxed under the existing engine size-based system.

Details of the scheme will be announced in next year’s Budget in advance of the system’s introduction.

The press release issued by HM Treasury on 9 September 1999.

Youth Court services in the North East come under the national spotlight today as Chief Secretary Alan Milburn visits Teesside Youth Court to see the Government’s modernization programme in action.

Alan Milburn has chosen Teesside to kick off a national programme of visits to front line services to highlight what Ministers regard as the unacceptable variations in performance between similar public service organizations. This reflects Ministers’ belief that while improvements in public services are taking place, especially now that the Government’s record levels of investment have come on line, progress is too uneven. Some local services are making more progress than others reflecting differences in management and organization more than levels of funding.

The Government is pledged to halve the time taken to get persistent young offenders through the youth justice system from arrest to sentence – and Cleveland is one of the top best performing areas in England and Wales. The aim is to spread best practice so that poorer performers are brought up to the levels of the best.

Alan Milburn commented:

“Teesside is leading the way in bringing young offenders speedily to book. When the Government came into office it was taking nearly five months, 142 days between the arrest of persistent young offenders and their punishment by the courts. These delays were unacceptable.

The Government is pledged to halve the time taken from arrest to sentence for persistent young offenders. I am pleased that youth courts in the North East are well on the way to meeting this pledge.

I am here today to see for myself what is being done, what lessons can be learned by others and what else needs to be done to tackle youth crime.

The Government is driving forward the modernization of our key public services so they provide excellence for the many and not just the few. We want to see high quality services everywhere. That is fair to the people who use these services and the taxpayers who fund them.

Improvements are already coming through but change takes time and effort as well as resources. We know that there are too many unacceptable variations in performance across the public services. That is why we are taking action to crack down on failure and reward success. And we want to see the worst learning from the best. We will not tolerate second best.”

The Government is pledged to halve the time from arrest to sentence from 142 to 71 days. The average for England and Wales for the whole of last year was down to 125 days, by December it was down to 106 days. There is still much to be done, however to ensure persistent young offenders are met with a speedy response in every area. In some areas it still takes an average of 163 days, while in another it is already down to 84 days. Cleveland is the seventh best of the 44 areas with a figure of 103 days.

Cleveland is now producing a Joint Improvement Plan to set out how further reductions will be made and has received additional financial help from the national Youth Justice Board’s Development Fund to improve services for its young offenders. Cleveland, along with Redcar and Middlesborough are also jointly involved in a multi-agency Youth Offending Team to work with young offenders in the community.

Alan Milburn’s programme of visits during September and October is the start of a concerted autumn campaign to shine the spotlight on how local services are using the extra resources they have been given to meet the performance targets they have been set by the Government.

The press release issued by HM Treasury on 7 September 1999.

Greater co-operation in tackling abuse of financial rules and regulations in cross-border dealings involving UK and Russian investors and investments will be provided through an agreement which has been signed between UK regulatory authorities and the Russian Federal Commission for the Securities Market, Economic Secretary Melanie Johnson announced today.

Welcoming the announcement, Miss Johnson said;

“The increasing globalisation of financial markets requires regulatory authorities to work together in order to tackle abuses of rules, regulations, and laws which harm investors. This is the seventh bilateral agreement on financial regulation which we have reached with a non-EU country, and will reinforce the strength of the City of London as a major international financial centre.

“The Memorandum of Understanding between the Treasury, the UK Financial Services Authority, the London Stock Exchange, and the Russian Federal Commission for the Securities Market will do a great deal to develop financial relations between us and improve the effectiveness of regulation.

“This agreement will provide a framework allowing the authorities to assist each other, providing investors with greater protection and security. We hope that our agreement will promote mutual understanding, both in terms of the operation of markets and their regulation. The establishment of clear channels of communication and greater engagement between our authorities will be of mutual benefit, and will support Russian companies that wish to list on the London Stock Exchange.

“The fact that we have been able to sign such an agreement is testament to the strides taken by the Russian Federal Commission for the Securities Market to develop an effective regulatory system in the field of securities.

“The Federal Commission, headed by Dmitry Vasiliev, has taken a lead in Russia in defending the rights of investors and establishing the duties required of market participants. I look forward to the continuation of good relations between the UK and Russian regulatory authorities.”

The press release issued by HM Treasury on 7 September 1999.

The biggest shake-up of the tax and benefits system since Beveridge began today, as a major £12m advertising campaign was launched by Prime Minister Tony Blair and Chancellor Gordon Brown to promote the Working Families’ Tax Credit (WFTC) – a better deal for working parents.

WFTC, which replaces Family Credit and comes into effect on 5 October, will help 1.5 million families, including 3 million children, by providing a decent, living wage along with generous help with childcare costs. The advertising campaign encourages people to ring a freephone response line – 0800 597 5976 – to see how they’ll benefit.

WFTC will ensure that, from now on, a life in work will mean more than a life on benefits.

Gordon Brown said:

“The launch of the Working Families Tax Credit means the Government is not only integrating tax and benefits for the first time to tackle the causes of poverty but fulfilling an essential commitment of welfare reform – to make work pay. Our aim is that work will pay more that benefits. Working families will no longer need to apply to the social security office to take home a living income. And everyone benefits. The more people in work the less is paid out in social security, the better are the tax revenues and our ability to finance public services.

“On average the 1.5 million families receiving WFTC will get £24 a week more than they would have received under the old system. Around 3 million children will benefit.

“Our aim is to abolish family poverty for every family on WFTC, and ensure that every child has the best start in life.

“The WFTC marks a major landmark, not just in the reform of the tax system, linking tax and benefits but in welfare reform.”

The advertising campaign, which begins tomorrow, features a series of television and press adverts alerting people to eligibility for WFTC, providing information on how much they might be eligible for, and encouraging them to ring a freephone response line to get more information. The number is 0800 597 5976, and is open from 7am until 11pm.

The campaign, produced by St Lukes advertising agency, uses the concept of advocates – people we come into contact with everyday, such as lollypop ladies and ice cream sellers – to encourage information about WFTC to be passed on to the public.

The press release issued by HM Treasury on 7 September 1999.

The biggest shake-up of the tax and benefits system since Beveridge began today, as a major £12m advertising campaign was launched by Prime Minister Tony Blair and Chancellor Gordon Brown to promote the Working Families’ Tax Credit (WFTC) – a better deal for working parents.

WFTC, which replaces Family Credit and comes into effect on 5 October, will help 1.5 million families, including 3 million children, by providing a decent, living wage along with generous help with childcare costs. The advertising campaign encourages people to ring a freephone response line – 0800 597 5976 – to see how they’ll benefit.

WFTC will ensure that, from now on, a life in work will mean more than a life on benefits.

Gordon Brown said:

“The launch of the Working Families Tax Credit means the Government is not only integrating tax and benefits for the first time to tackle the causes of poverty but fulfilling an essential commitment of welfare reform – to make work pay. Our aim is that work will pay more that benefits. Working families will no longer need to apply to the social security office to take home a living income. And everyone benefits. The more people in work the less is paid out in social security, the better are the tax revenues and our ability to finance public services.

“On average the 1.5 million families receiving WFTC will get £24 a week more than they would have received under the old system. Around 3 million children will benefit.

“Our aim is to abolish family poverty for every family on WFTC, and ensure that every child has the best start in life.

“The WFTC marks a major landmark, not just in the reform of the tax system, linking tax and benefits but in welfare reform.”

The advertising campaign, which begins tomorrow, features a series of television and press adverts alerting people to eligibility for WFTC, providing information on how much they might be eligible for, and encouraging them to ring a freephone response line to get more information. The number is 0800 597 5976, and is open from 7am until 11pm.

The campaign, produced by St Lukes advertising agency, uses the concept of advocates – people we come into contact with everyday, such as lollypop ladies and ice cream sellers – to encourage information about WFTC to be passed on to the public.