Tata Group to invest over £4 bn in UK gigafactory creating thousands of jobs

  • Tata Group announces new multibillion-pound electric car battery factory to be built in the UK – one of the largest ever investments in the UK automotive sector.
  • Investment will create up to 4,000 new direct jobs, and thousands more in the wider supply chain – driving forward the Prime Minister’s priority to grow the economy.
  • New gigafactory set to provide almost half of the battery production needed by 2030 – turbocharging UK’s switch to zero emissions vehicles.

The UK has been chosen as the home of Tata Group’s first ‘gigafactory’ outside India, in a move set to create thousands of jobs and bring a huge boost to the UK’s automotive sector.

Tata Group confirmed the UK had secured one of the largest ever investments in the UK auto industry today (19 July). The gigafactory will secure UK-produced batteries for another Tata Sons investment, Jaguar Land Rover, as well as other manufacturers in the UK and Europe.

The new gigafactory, at 40GWh, will be one of the largest in Europe. It will create up to 4,000 highly skilled jobs, as well as thousands of further jobs in the wider supply chain for battery materials and critical raw minerals, helping grow the economy and take forward the UK’s commitment to net zero.

Prime Minister Rishi Sunak said: “Tata Group’s multi-billion-pound investment in a new battery factory in the UK is testament to the strength of our car manufacturing industry and its skilled workers.

“With the global transition to zero emission vehicles well underway, this will help grow our economy by driving forward our lead in battery technology whilst creating as many as 4,000 jobs, and thousands more in the supply chain.

“We can be incredibly proud that Britain has been chosen as home to Tata Group’s first gigafactory outside India, securing our place as one of the most attractive places to build electric vehicles.”

Mr N Chandrasekaran, Chairman, Tata Sons, said:The Tata Group is deeply committed to a sustainable future across our business.

“Today, I am delighted to announce the Tata Group will be setting up one of Europe’s largest battery cell manufacturing facilities in the UK. Our multi-billion-pound investment will bring state-of-the-art technology to the country, helping to power the automotive sector’s transition to electric mobility, anchored by our own business, JLR (Jaguar LandRover).

“With this strategic investment, the Tata Group further strengthens its commitment to the UK, alongside our many companies operating here across technology, consumer, hospitality, steel, chemicals, and automotive.

“I also want to thank His Majesty’s Government, which has worked so closely with us to enable this investment.”

The investment of over £4 billion represents a historic moment for the UK’s growing electric vehicles industry.

The new gigafactory will supply JLR’s future battery electric models including the Range Rover, Defender, Discovery and Jaguar brands, with the potential to also supply other car manufacturers. Production at the new gigafactory is due to start in 2026.

This investment will be crucial to boosting the UK’s battery manufacturing capacity needed to support the electric vehicle industry in the long term. With an initial output of 40GWh it will also provide almost half of the battery production that the Faraday Institution estimates the UK will need by 2030.

Business and Trade Secretary Kemi Badenoch said:Today’s multibillion-pound investment demonstrates that this Government has got the right plan when it comes to the automotive sector.

“We are backing the UK car industry to help grow our economy as we transition to electric vehicles, and this latest investment will secure thousands of highly-skilled jobs across the country.

“Tata’s decision is a major vote of confidence in UK automotive. The Government is committed to making the UK one of the best places in the world for automotive investment, as evidenced by the Automotive Transformation Fund, the British Industry Supercharger, and the strong programme of support for research and development.”

Chancellor of the Exchequer Jeremy Hunt said: “This is a huge vote of confidence in the UK and one that will drive growth in our economy, creating thousands of jobs and powering our transition to electric cars.

“Tata Group’s gigafactory builds on the strength of our manufacturing industry and shows we’re on the right track, backing the sectors that will underpin our future prosperity for decades to come.”

Energy Security Secretary Grant Shapps said:Today’s announcement from Tata is excellent news. We have been working tirelessly with the company, and across government, to make the case for why the UK is the best place for them to invest.

“This new gigafactory puts us firmly in the fast lane to becoming the capital of Europe’s electric car market, and makes crystal clear how they see the UK as the place to be for their future growth.

“With thousands of jobs on site and in the supply chain, this new factory will be the cornerstone of our automotive industry, backing manufacturers to develop and expand, and customers to make the switch from petrol and diesel.”

Council Tax ‘bombshell’ would hit 92,000 Edinburgh households – Boyack

Scottish Labour MSP Sarah Boyack has branded the SNP government’s consultation on Council Tax a “scandal”, revealing that the changes would hit 92,971 households in Edinburgh.

The SNP government is currently consulting on plans to hike Council Tax for properties in bands E to H – which would hit 39% per cent of households in Scotland’s capital.

People in the area could face increases of up to around £800.

This consultation follows years of ‘brutal’ budget cuts to Council budgets by the SNP government.

Scottish Labour MSP Sarah Boyack said: “Years of brutal cuts by the SNP has local services in [AREA] at breaking point, and now the government wants to plug the gaps with eye-watering Council Tax hikes of up to around £800.

“It is a scandal that ordinary Scots are once again being asked to pay more while getting less in return.

“This damaging Council Tax bombshell will hit more than 92,000 households in Edinburgh during the worst cost of living crisis in decades, piling pressure on people already facing impossible financial decisions.  

“Scots struggling with rising housing costs should be getting support from their government – but instead they are being asked to foot the bill for the SNP’s failure.

“Labour will stand up for people struggling with soaring living costs and fight for a fair deal for Edinburgh.”

BUT WHAT WOULD LABOUR ACTUALLY DO? REPLACE THE COUNCIL TAX? – Ed.

Local AuthorityHomes in bandsE to H % of homes affected  Potential increase  
Scotland715,31228% 
Aberdeen City32,65329%£821.11
Aberdeenshire50,87343%£768.12
Angus13,15923%£725.82
Argyll & Bute14,96332%£815.41
City of Edinburgh92,97139%£798.04
Clackmannanshire6,41326%£777.79
Dumfries & Galloway18,87026%£735.84
Dundee City10,43815%£819.39
East Ayrshire11,44720%£819.95
East Dunbartonshire25,47054%£780.38
East Lothian18,19336%£791.39
East Renfrewshire22,62357%£780.14
Falkirk18,08024%£751.81
Fife45,05626%£763.58
Glasgow City49,50117%£826.32
Highland34,14329%£786.73
Inverclyde7,14819%£788.16
Midlothian12,37429%£834.99
Moray9,55522%£788.67
Na h-Eileanan Siar1,55911%£711.53
North Ayrshire14,38721%£800.48
North Lanarkshire30,48220%£728.08
Orkney Islands1,91817%£754.78
Perth & Kinross26,90637%£773.78
Renfrewshire22,49226%£791.69
Scottish Borders16,51329%£747.56
Shetland Islands1,87117%£694.91
South Ayrshire18,49734%£801.05
South Lanarkshire41,06527%£717.07
Stirling17,65544%£816.68
West Dunbartonshire7,40317%£771.19
West Lothian20,63425%£766.77

Source: Chargeable Dwellings: Sep 2022 data: 

https://www.gov.scot/publications/council-tax-datasets/

Scottish Government Council Tax Consultation:

https://www.gov.scot/news/council-tax-consultation/

Chancellor’s Mansion House Reforms to boost typical pension by over £1,000 a year

  • Chancellor outlines reforms to boost pensions and increase investment in British businesses
  • the ‘Mansion House Reforms’ could unlock an additional £75 billion for high growth businesses, while reforms to defined contribution pension schemes will increase a typical earner’s pension pot by 12% over the course of a career
  • comprehensive reforms will increase pension pots by as much as £16,000

The reforms will also unlock up to £75 billion of additional investment from defined contribution and local government pensions, supporting the Prime Minister’s priority of growing the economy, and delivering tangible benefits to pensions savers.

The United Kingdom has the largest pension market in Europe, worth over £2.5 trillion. Over the past ten years Automatic Enrolment has helped an extra ten million people save for their futures, with £115 billion saved in 2021, but how this money is invested is limiting returns for savers. Comparable Australian schemes invest ten times more in private markets than UK schemes, reaping the rewards that UK savers are missing out on.

To level the playing field, the Chancellor and the Lord Mayor have supported an agreement between nine of the UK’s largest Defined Contribution pension providers, committing them to the objective of allocating 5% of assets in their default funds to unlisted equities by 2030. These providers represent over £400 billion in assets and the majority of the UK’s Defined Contribution workplace pensions market.

This could unlock up to £50 billion of investment in high growth companies by 2030 if all UK Defined Contribution pension schemes follow suit.

More effective investments by defined contribution pension schemes will also increase savers’ pension pots by up to 12%, or as much as £16,000 for an average earner.

Chancellor of the Exchequer Jeremy Hunt said: “British pensioners should benefit from British business success. By unlocking investment, we will boost retirement income by over £1,000 a year for typical earner over the course of their career.

“This also means more investment in our most promising companies, driving growth in the UK.”

Secretary of State for Work and Pensions Mel Stride said: “British workers should have the confidence that their pension savings are working as hard as they are.

“Our reforms will benefit savers and society – unlocking investment into pioneering UK businesses, growing the economy, and helping the record number of people in this country saving into a pension to achieve the retirement they want.”

The Chancellor’s Mansion House Reforms will also deliver better returns for savers through a new Value for Money Framework which will make clear that investment decisions made by pension firms should be based on overall long-term returns and not simply costs. Pension schemes which are not achieving the best possible outcome for their members will be wound up into larger, better performing schemes.

Analysis shows that over a five-year period there can be as much as 46% difference between the best and worst performing pension schemes. This means that a saver with a pot of £10,000 could have notionally lost £5,000 over a 5-year period from being in a lowest performing scheme.

The Mansion House Reforms will be guided by the Chancellor’s three golden rules: to secure the best possible outcome for pension savers; to always prioritise a strong and diversified gilt market as we seek to deliver an evolutionary, rather than revolutionary, change in our pensions market; and to strengthen the UK’s position as a leading financial centre to create wealth and fund public services.

To ensure that the money unlocked by these reforms is invested quickly and effectively, the Chancellor has asked the British Business Bank to explore the case for government to play a greater role in establishing investment vehicles, drawing upon the BBB’s skills and expertise.

This will complement the £250 million of support that government has made available through the Long-term Investment for Technology and Science (LIFTS) initiative to incentivise new industry-led investment vehicles.

The government will also encourage the establishment of new Collective Defined Contribution funds which can invest more effectively by pooling assets as well as launch a call for evidence to explore how we can support pension trustees to improve their skills, overcome cultural barriers and realise the best outcomes for their pension schemes and subsequently their members.

Defined Benefit pensions

For the Local Government Pension Schemes a consultation will be launched on setting an ambition to double existing investments in private equity to 10%, which could unlock £25 billion by 2030. The consultation proposes a deadline of March 2025 for all Local Government Pension Scheme funds to transfer their assets into LGPS pools and setting a direction that each pool should exceed £50 billion of assets.

To improve outcomes for savers in a highly fragmented market, with over 5,000 Defined Benefit Schemes, the government will set out its plans on introducing a permanent superfund regulatory regime to provide sponsoring employers and trustees with a new way of managing Defined Benefit liabilities.

A new call for evidence will also launch tomorrow on the possible role of the Pension Protection Fund and the part Defined Benefit schemes could play in productive investment whilst securing members’ interests and protecting the sound functioning and effectiveness of the gilt market.

Capital Markets

The UK has the largest stock market in Europe and one of the deepest in the world – the London Stock Exchange had the most Initial Public Offerings (IPOs) outside of the US in 2021.

A comprehensive set of reforms will help attract the fastest growing companies in the world to grow and list in the UK. Prospectuses will be simplified, another milestone of Lord Hill’s UK Listing Review, replacing the EU’s outdated regime.

Firm’s prospectuses for investors will be easier to produce, more accessible and understandable, saving companies time and money and attracting more firms to do business in the UK.

Protectionist rules inherited from our time in the EU will be abolished. The Share Trading Obligation and Double Volume Cap have held back UK businesses and will be removed so firms can access the best and most liquid markets anywhere in the world.

The government has also accepted all of Rachel Kent’s Research Review published today, paving the way for a new ‘Research Platform’ that will provide a one-stop-shop for firms looking for research experts. It also sets the path for potentially removing the unbundling rules – an inherited EU law that requires brokers to charge a separate fee for research.

The Chancellor will set out plans to establish an entirely new kind of stock market that allows private companies to access capital markets without floating on a stock exchange. This ‘Intermittent Trading Venue’ would be a world first and will help firms grow and boost the UK economy. It will be complemented by a move to make shares fully digital rather than written on paper, saving businesses time and money.

This builds on the Chancellor’s Edinburgh Reforms and Solvency II reforms which will unlock over £100 billion of productive investment from insurance firms across the UK over a decade.

Seizing the opportunities of the future

To ensure the continued success of the UK’s world-leading financial services sector, firms must be ready to innovate faster, with regulators willing to support them as they do.

Following the Financial Services and Markets Act 2023 passing into law, the government has announced that it is commencing repeal of almost 100 pieces of unnecessary retained EU law for financial services, further simplifying the UK’s regulatory rulebook.

The government launched an independent review into the future of payments – led by Joe Garner, former Chief Executive Officer of Nationwide Building Society – to help deliver the next generation of world class retail payments, including looking at mobile payments.

The government also welcomes a report suggesting ways to move to fully digital shares, scrapping outdated paper-based shares. This will make markets more efficient and modernize how people own shares.

Further information

  • The Mansion House Compact members are: Aviva; Scottish Widows; L&G; Aegon; Phoenix; Nest; Smart Pension; M&G; Mercer.
  • The package of reforms announced yesterday could help increase pension pots for an average earner who starts saving at 18 by 12% over their career – over £1,000 more a year in retirement – all whilst supporting UK economy, businesses, and employment.
  • Analysis shows a difference in returns between schemes over a 5-year period of up to 46% in some cases. This means that a saver with a pot of £10,000 could have notionally lost £5,000 over a 5-year period from being in a lowest performing scheme.

Reaction to the Chancellor’s Mansion House Reforms

Jamie Dimon, Chairman & CEO, JPMorgan Chase said: “Great financial centers stay competitive by responding to the market and evolving through the kinds of important iterations that the Chancellor has announced.

“It’s also good to see the U.K. preparing for the industries of tomorrow considering the great promise of life sciences and A.I. as cornerstones of the economy in the years to come.”

Sir Jon Symonds CBE, Chair, GSK said: “I welcome these important reforms which will further strengthen the UK capital markets and support economic growth. 

“The changes will help increase investment returns for pension savers through improved access to all asset classes including in high growth sectors, and ensure the UK’s most innovative companies are better supported by UK capital to stay in this country as they scale to maturity.”

Brent Hoberman, Executive Chairman & Co-Founder, Founders Forum, Founders Factory said: “The planned pension reforms will enable for capital to be productively invested in funds and scaleup companies in the UK. 

“This should be welcome news to the UK industries of the future, their ability to attract more capital will create more national champions and generate growth, jobs and increased tax revenue.

“The reforms will enable the UK to build on the positive momentum in these key parts of the economy drive further synergies between it’s world class financial institutions and entrepreneurial base.”

C. S. Venkatakrishnan, Group Chief Executive, Barclays said: “The UK has needed a bold, forward-looking policy agenda and industrial strategy to grow the economy. 

“These Mansion House Reforms are an important step in the right direction in mobilising private capital to support growth and innovation.”

Irene Graham OBE, CEO, ScaleUp Institute said: “The package of measures announced by the Chancellor today are very much welcomed by the ScaleUp Institute.

“They contain significant and innovative solutions which will help to enable easier and simpler access to capital markets and patient growth capital. These new initiatives, coupled with the reforms already underway, will support and fuel the global ambitions of our scaleups, and high-potential scaling businesses, across all sectors and all areas of the UK.”

Miles Celic, Chief Executive Officer, TheCityUK, said:“The competitiveness and attractiveness of any successful international financial centre must, by definition, always be a work in progress. The Chancellor is right to be ambitious in building on the UK’s successes and recognising that we can’t afford to be complacent.

“The Mansion House Reforms are ambitious, pragmatic and necessary. They will underpin the UK industry’s future success. Most importantly, their main beneficiaries will be the British people, who will gain from greater investments in growing businesses, revitalising communities and improving retirements.”

Chris Hulatt, Co-Founder, Octopus Group said:“We welcome government’s efforts to make the UK a more attractive place to start a business, and support measures that provide additional opportunities for private companies to raise capital.

“Finding new ways for the most skilled and talented entrepreneurs to access capital as they build businesses is fundamental to helping the UK maintain its place as the best place to start, build and scale a business.”

Noel Quinn, Group Chief Executive, HSBC said: “I welcome the strong and comprehensive package of measures announced by the Chancellor in his Mansion House speech. 

“Unlocking equity to support companies in innovative high-growth sectors such as technology and life sciences is vital to the future growth of the UK economy.”

Lord Mayor, Nicholas Lyons said:“These reforms and the Mansion House Compact mark a historic turning point that will accomplish the dual aim of securing a brighter future for retirees and channelling billions into our economy. 

“I’m proud to have convened key industry players to make this commitment to unlock £50bn in capital by the end of the decade which will improve returns for pension savers and support firms to grow, stay and list in the UK.”

Tim Orton, Chief Investment Officer, Aegon UK said:“Aegon UK is proud to be a founder signatory of the Mansion House Compact which will help deliver better long-term outcomes for our customers.

“We are committed to ensuring our customers can access and share in the growth and success of innovative companies we invest in. We will use our scale and expertise to develop investment solutions seeking to improve the retirement outcomes of the millions of members of the defined contribution pension schemes we support.  The Compact will also create opportunities that help deliver our climate targets as we progress towards net zero.”

Sir Nigel Wilson, Group CEO, Legal & General said: “As the UK’s largest manager of money for pension clients, L&G is pleased to support the ambition set by the Compact.

“Increasing investment in science, technology and infrastructure will support better returns for the tens of millions saving for their retirement, as well as stimulate much needed long-term growth for the UK economy.”

Mark Fawcett, CEO, Nest Invest said: ““For many years now, illiquid assets have been integral to diversified DC pension schemes around the world.

” It’s been a key driver behind Nest setting up our own private market mandates to ensure our members aren’t missing out. Nest will continue to increase our investment in unlisted equities, helping our 12 million members benefit from the strong returns these types of deals can typically offer.”

Ruston Smith, Chair, Smart said:“Smart Pension is committed to securing better outcomes for long-term savers. Giving UK savers access to higher net returns by investing in unlisted equities, including innovative, high-growth UK companies as part of a well diversified portfolio, will deliver these outcomes over time.

“We are pleased to be a signatory of the Mansion House Compact and, as a successful British fintech, we are proud to be supporting the country’s technology sector, helping home-grown start-ups and scale-ups to flourish and thrive.”

Scottish Widows, CEO, Chirantan Barua said:“The industry needs to modernise the investment options available to customers. 

With the right consumer protections in place, the proposals announced today could make a huge difference to our customers and the wider UK economy. I’m proud that Scottish Widows is a founding signatory of the Mansion House Compact.”

Phil Parkinson, Investments and Retirement Leader, Mercer said: “Mercer supports proposals that lead to improved pension scheme member outcomes.

“As a global investment solutions provider, we see first-hand the value that illiquid asset allocations can bring to investors’ portfolios from a risk and a return perspective and are in favour of initiatives designed to unlock this asset class for DC members.”

Edward Braham, Chair, M&G said: “Patient capital put to work in companies or projects over multiple decades is essential to support economic growth and importantly, capture value for people’s pensions as they save for their retirement.

M&G’s heritage is in investing in private markets, whether it is through infrastructure, real estate or innovative companies with purpose. We are democratising access to private markets through the Prudential With Profits Fund, and are supportive of DC pension reforms that encourage more investment of this kind that has potential to result in positive outcomes for savers.”

Mike Eakins, Chief Investment Officer, Phoenix Group said: ““We are proud to sign the Compact, which is an important step to allow UK long-term savers to invest in a more diversified portfolio, giving them access to the potential returns of a broader range of assets, in line with their international counterparts.

“Currently, only 9% of UK pension funds are invested in alternative assets as compared to 23% in other major pensions markets. With the right regulatory environment, Phoenix Group could invest up to £40 billion in sustainable and/or productive assets to support economic growth, levelling up and the climate change agenda whilst also keeping policyholder protection at its core.”

51,7000 Edinburgh households will be hit by Tory economic failure

Figures revealed by the Labour Party show that 51,7000 homes in Edinburgh will be affected by eye-watering mortgage rises, with those remortgaging next year paying £280 more a month.

Across Scotland,  546,600 households in Scotland will be paying an average of £190 more a month on their mortgages next year.

The news follows interest rates rising for the 13th time in June, increasing the painful squeeze on family finances.

Ahead of visiting Centrica Green Skills Centre in Glasgow, Labour’s Shadow Chancellor Rachel Reeves said the party would not stand by as Scots facing the failures of both the Tories and the SNP.

Commenting, Scottish Labour MSP for Lothian Sarah Boyack MSP said: “People in Edinburgh are feeling the crushing weight of the Tory mortgage bombshell and the SNP’s incompetence.

“On the one hand, the Tories have shown time and time again that they simply don’t care about people facing hard, impossible choices; they don’t care about the relentless toll the cost of living emergency has taken on so many lives.

“And on the other, we have an SNP Government that is just not up to the job – too distracted by the scandal in their own party ranks.

“Labour’s Mortgage Rescue Scheme will offer practical help to ease the financial burden and will provide support to those in need.

“Our plan will pave the way for a brighter, prosperous and fair future for Edinburgh and the whole of Scotland.”

Local authorityNumber affected by 2026Average Increase in monthly mortgage payments next year
Aberdeen City                 22,200£170
Aberdeenshire                 29,500£210
Angus                           7,400£170
Argyll and Bute                 7,400£190
Clackmannanshire                7,400£160
Dumfries and Galloway          14,800£160
Dundee City                   14,800£150
East Ayrshire                 14,800£140
East Dunbartonshire           14,800£260
East Lothian                    7,400£270
East Renfrewshire             14,800£270
Edinburgh             51,700£280
Falkirk                       14,800£160
Fife                          36,900£170
Glasgow City                  51,700£180
Highland                      14,800£200
Inverclyde                      7,400£120
Midlothian                    14,800£250
Moray                           7,400£180
North Ayrshire                14,800£140
North Lanarkshire             36,900£150
Perth and Kinross             14,800£220
Renfrewshire                  22,200£160
Scottish Borders                7,400£200
South Ayrshire                  7,400£180
South Lanarkshire             36,900£170
Stirling                        7,400£220
West Dunbartonshire             7,400£130
West Lothian                  22,200£210
Scotland       546,600£190

Chancellor: A strong economy will grow business and boost pensions savings

  • Tomorrow (10 July) Jeremy Hunt will outline how he will unlock capital for high-growth businesses and boost outcomes for pension savers, guided by ‘three golden rules’.
  • Chancellor to use first Mansion House speech to set out how Britain’s financial services sector will support the Prime Minister’s priority to grow the economy.
  • Measures will mean that more investment is available for high-growth businesses, which are key to creating good jobs, opening up opportunity and contributing millions in tax receipts.

Chancellor Jeremy Hunt will deliver his first Mansion House address tomorrow (10 July) setting out how Britain’s financial services will support the drive for long-term sustainable growth across the country.

In front of an audience of CEOs and leaders from the sector in the City of London, the Chancellor will set out his “Mansion House Reforms” to drive the Prime Minister’s priority to grow the economy by making the UK the most innovative and competitive financial centre in the world.

The financial and related professional services industry employs over 2.5 million people – something Hunt will describe as starting from a “position of strength” – and generates more than £100 billion in tax revenue, paying for half the cost of running the NHS.

He will also hail the importance of the traditionally “nimble” and “agile” sector for Government’s vision of Britain as a science superpower and the world’s next Silicon Valley.

The Chancellor is expected to say: ““I want to lay out plans to enable our financial services sector to increase returns for pensioners, improve outcomes for investors and unlock capital for our growth businesses.”

The reforms will not only help create jobs and increase tax revenues – which ultimately helps to fund vital public services – but will also lead to better returns for pension savers in the long term.

The Mansion House Reforms will be guided by the Chancellor’s three golden rules. He is expected to say: ““Firstly everything we do we will seek to secure the best possible outcomes for pension savers, with any changes to investment structures putting their needs first and foremost.

“Secondly we will always prioritise a strong and diversified gilt market. It will be an evolutionary not revolutionary change to our pensions market. Those who invest in our gilts are helping to fund vital public services and any changes must recognise the vital role they play.

“The third golden rule is that the decisions we take must always strengthen and never compromise the UK’s competitive position as a leading financial centre able to fund, through the wealth it creates, our precious public services.”

Hunt is expected to announce a wide-ranging package of measures that build upon the Edinburgh Reforms announced in December last year and deliver upon the vision that the Prime Minister himself set out at Mansion House in 2021 – with a smarter rulebook tailored for Britain’s needs.

On the economic headwinds facing the UK economy, the Chancellor will say that there can be “no sustainable growth without first eliminating the inflation that deters investment and erodes consumer confidence” and promise that the government will continue to honour its “responsibilities to those struggling the most” in the face of inflation.

David Livingstone, Citi’s Chief Executive Officer (Europe, Middle East and Africa) said: “Citi strongly supports a UK strategy focussing on growth and improving competitiveness.

“A government plan to reform the pension system to emphasise net returns would be key to the collective prosperity of all the country’s pensioners, while also creating a higher growth, more productive, and innovative economy.

“Based on Citi’s experience working with investors and pension funds around the world, consolidating funds often increases efficiency and improves access to global, diversified investment opportunities, which would be immensely beneficial to the UK, home to the second-largest pool of long-term capital in the world.”

Hannah Gurga, Director General, ABI said: “We share the Government’s ambition to make pension money work as hard as possible to deliver better returns for savers and the UK economy.

“A long-term strategy with savers at its heart and working with the sector are key to delivering on this ambition. We and our members look forward to working closely with Government as it fleshes out its plans over the summer.”

Dr Dan Mahony, Government Life Sciences Investment Envoy and Chair of the UK BioIndustry Association (BIA), said: “The unlocking of pension fund assets for investment into the UK life sciences sector will enable everyone saving for their retirement to benefit financially from Britain’s world-leading strength in drug discovery and development, whilst supercharging business growth and accelerating medical progress.

“We have great science and great people, now they will be supported by greater capital from the UK, adding to what the sector is already attracting from overseas investors.

“More domestic investors championing our growing companies will help them to put down deeper roots here, producing more jobs and benefits for the UK economy.”

Chris Cummings, Chief Executive, the Investment Association said: “The Chancellor’s comments recognise that investment must be at the heart our economy – providing for the financial futures of UK households through pensions that deliver good returns, even in the most challenging economic times, and powering growth by investing in British businesses.

“The recognition of the central role of long term investment is the foundation of successful policy.

“With the right regulatory framework, pension schemes will be able to invest productively and sustainably, unlocking further investment for innovative growth companies, and improving returns for savers by broadening investment options. In tandem with reforms to the listings regime, this will help the UK to become a more globally attractive place for companies to list, invest and do business.

“Achieving this new economic dynamism will require the government to bring together regulators, policymakers, and businesses, to create a forward-looking and internationally competitive investment framework, based on a stable, long term policy approach.

“This will also improve the gilt market, ensuring UK government debt remains attractive to domestic and international investors. 

“Delivering these outcomes will require us to strike the right balance between risk and reward and between protection and innovation. Investment managers stand ready to play our part.”

Drugs: Scottish Government calls for decriminalisation for personal supply

RECKLESS, SAY SCOTTISH CONSERVATIVES

Decriminalisation of all drugs for personal supply is one of a number of polices which the Scottish Government is calling on the UK Government to implement in a new paper on drug law reform.

The move would allow people found in possession of drugs to be treated and supported rather than criminalised and excluded. Decriminalisation would also mean that without a criminal record, people in recovery would have a better chance of employment.

The document has been published by the Scottish Government outlining measures which could be implemented through further devolution, independence, or changes enacted immediately by the UK Government to support the work being done within existing powers to reduce drug deaths.

Among the proposals are:

  • Decriminalisation of all drugs for personal supply progressed as part of a wider review of drug laws
  • Immediate legislative changes to allow us to fully and properly implement harm reduction measures such as supervised drug consumption facilities (rather than the current proposal being explored which is constrained by having to work within existing legislation), drug checking and increased access to the life saving drug naloxone.
  • a roadmap for further exploration of drug law reform, focused on evidence and the reduction of harm, including an update of the drug classification system to be based on harms caused

The proposals follow recommendations made by the Drug Deaths Taskforce in September 2021.

Minister for Drugs Policy Elena Whitham said: “These are ambitious and radical proposals, grounded in evidence, that will help save lives.

“We want to create a society where problematic drug use is treated as a health, not a criminal matter, reducing stigma and discrimination and enabling the person to recover and contribute positively to society. While we know these proposals will spark debate, they are in line with our public health approach and would further our national mission to improve and save lives.

“We are working hard within the powers we have to reduce drug deaths, and while there is more we need to do, our approach is simply at odds with the Westminster legislation we must operate within.

“These policies could be implemented by the Scottish Government through the devolution of further, specific powers to Holyrood including the Misuse of Drugs Act 1971 – or through independence. An immediate way for these policies to be enacted would be for the UK Government to use its existing powers to change its drug laws.

“Scotland needs a caring, compassionate and human rights informed drugs policy, with public health and the reduction of harm as its underlying principles, and we are ready to work with the UK Government to put into practice this progressive policy.”

A spokesperson for the Scottish Conservatives said: “Trying to solve Scotland’s drug death crisis by decriminalising dangerous class-A drugs is reckless.

“To tackle the highest drug death rate in Europe, Humza Yousaf needs to back our Right to Recovery Bill.”

The Scottish Liberal Democrats have been calling for the decriminalisation of drug misuse for years. From rehab spaces to support for families, there are pressing areas where action is needed. This is an urgent public health crisis and ministers need to act like it.

Committee seeks views on how Scotland  should best achieve a circular economy

Cutting waste, increasing recycling and protecting the natural environment. These are some of the suggested benefits of a circular economy, but will a new Bill help make these changes happen? 

The Circular Economy (Scotland) Bill will introduce measures the Scottish Government believes will help Scotland to move towards a circular economy. The Scottish Parliament’s Net Zero, Energy and Transport Committee wants to know if these proposals will work in practice and whether they are sufficient to achieve that goal. 

According to the Scottish Government, a circular economy would not only cut waste and reduce carbon emissions, but it would increase Scotland’s self-sufficiency and reduce reliance on international supply chains. 

As well as creating a circular economy strategy, the Bill also contains powers to set additional charges for single use items as well as placing new duties on households and local authorities in terms of disposal of household waste and recycling.  

Now the Committee want to hear from people across Scotland about their views of the Bill and whether it really will make a difference in reducing waste in Scotland. 

Committee Convener Edward Mountain MSP said: “The Bill before us has ambitions for creating a circular economy which will protect Scotland’s natural environment and help tackle the climate emergency. 

“But this Bill is wide ranging and will affect individuals, businesses and communities, so it is important to hear these voices to make sure the measures which are proposed work in practice. 

“Covering areas such as household waste, littering and recycling this will affect many aspects of day-to-day life. So, it is vital that as many people as possible get involved in the discussion to help strengthen our scrutiny of the detail in the Bill.”

To provide a detailed response to the Bill – Circular Economy (Scotland) Bill – Scottish Parliament – Citizen Space

To make brief and general comments – https://engage.parliament.scot/group/29745

The Committee’s call for views will be open until Sunday 20 August 2023.

Suicide Prevention Strategy: ‘Creating Hope Together’

New approach to reducing suicide in Scotland

At the end of September last year, the Scottish Government and COSLA launched a new long-term strategy for suicide prevention, Creating Hope Together. On Thursday (28th June) the next, important step in that journey took place with an event at Borders College in Galashiels …

Suicide prevention will be ramped up as the Government and COSLA publish a 10-year strategy to tackle the factors and inequalities that can lead to suicide.

The strategy will draw on levers across national and local government to address the underlying social issues that can cause people to feel suicidal, while making sure the right support is there for people and their families.

This fresh approach will help people at the earliest possible opportunity and aim to reduce the number of suicides – ensuring efforts to tackle issues such as poverty, debt, and addiction include measures to address suicide.

The Scottish Government will fund the Scottish Recovery Network as part of the initial three-year action plan. This will boost community peer-support groups to allow people to discuss their feelings and drive down suicide.

The strategy is supported by record funding through the Programme for Government commitment to double the annual budget to £2.8 million by 2025-2026. It will build on the work of the National Suicide Prevention Leadership Group and continue delivering the existing ‘Every Life Matters’ action plan.

Launching the ‘Creating Hope Together: Scotland’s Suicide Prevention Strategy 2022-2032’, Mental Wellbeing Minister Kevin Stewart said: “Every death by suicide is a tragedy and, while the number of deaths have fallen in recent years, I want to use every lever at our disposal to drive that down further.

“That’s why we are taking a new approach to suicide prevention – considering all the social issues that can lead people to feel suicidal, while supporting those contemplating suicide and their loved ones.

“Peer support is an effective way to support people in their communities, helping them to feel heard and understood.  I’m pleased this strategy will provide funding for the Scottish Recovery Network to continue its vital work for people experiencing – and recovering from – mental health issues.”

Councillor Kelly, the COSLA Health and Social Care spokesperson said: “This approach to suicide prevention will build on the work taking place across local areas in Scotland.

“It will see the partnerships across communities strengthened and build on the collaboration between local and national work to ensure we share the knowledge and insights to help drive suicide prevention forward.

“This strategy will see work which reaches into new areas beyond the traditional settings of health and social care such as education, justice and physical activity, so we can truly see suicide prevention as Everyone’s Business.”

An important part of the new strategy and action plan is the launch of a new delivery model which we’re calling Suicide Prevention Scotland to drive the action plan.

The model is actually really simple. 

We’re a community of people working together across different parts of Scotland to prevent suicide across our country. We will be developing strong partnerships, and using these to learn from best practice

Whether at local or national level, or within a key sector, we’re working as one group, to deliver a range of meaningful programmes of work as set out in the action plan.

Everything we do will be informed by the critical insight of lived, academic, professional and practice experience.

APPOINTMENT OF NATIONAL DELIVERY LEAD FOR SUICIDE PREVENTION

Haylis Smith has been appointed to lead delivery of the action plan on behalf of the Scottish Government and COSLA, as the Suicide Prevention Scotland National Delivery Lead.

This is a new role, and Haylis brings more than two decades of experience leading work to prevent suicide.

STRATEGIC OUTCOME LEADS ANNOUNCED

The Creating Hope Together strategy has four key outcomes. 

These are the areas the strategy sets out where real change is needed to prevent suicide. 

To develop a partnership approach to the work, a strategic partner(s) has been appointed to drive delivery. They are:

  • Creating a safer environment that protects against suicide – Samaritans
  • Improving understanding of suicide and tackling stigma – SAMH
  • Providing compassionate support for anyone affected by suicide – Penumbra & Change Mental Health
  • Working in a connected way, that always draws on evidence and lived experience – Public Health Scotland

As we move forward, we expect even more new partnerships and alliances to be created to deliver the action plan. 

This is an important part of the culture we’re creating in our Suicide Prevention Scotland.

OUTCOMES FRAMEWORK

The Scottish Government and COSLA today also published an outcomes framework.

This sets out how our actions will build over the next ten years to achieve our vision of reducing suicide, whilst tackling the inequalities which contribute to suicide. It will support how we plan, measure and report the difference we are making on the ground.

You can read the document here.

YEAR ONE PRIORITIES

With a new innovative delivery partnership in place, the Scottish Government and COSLA have identified priorities for the first year of the strategy, with a real focus on reaching people with a higher risk of suicide.

These have been informed by people with professional, academic, lived and practice experience.

They are:

  1. We will activate the whole of Government and society policy package — so that a wide range of Government policies and their delivery on the ground — are working to prevent suicide. We will make the strongest connections possible with policies which address the social determinants of suicide, such as poverty and homelessness. We will also make sure we use all the touch points that people have with services to proactively be alert to suicide risk and offer compassionate support.
  2. We will focus on improving safety at key locations of concern for suicide.
  3. We will build on the Time Space Compassion approach, to keep improving the way people are supported and cared for when they are suicidal. We will focus our work in primary care, unscheduled care, and community settings.
  4. We will support new peer support groups right across Scotland.
  5. We will build more understanding of suicide risk and behaviour amongst children and young people and use that to improve responses.
  6. We will keep raising awareness and improving learning about suicide. We will target our work, so we build this understanding in sectors that support groups with a higher risk of suicide. Our current work in West Highlands and Skye will help us build greater understanding of what encourages particular groups to seek help.
  7. We will develop an online portal which hosts information and advice on suicide, to help people who may be suicidal and anyone worried for someone, as well as professionals.
  8. We will roll-out suicide reviews and improve data to help redesign the way support is given to people who are suicidal — ensuring that support is both timely and effective.
  9. We will work with partners in high-risk settings for suicide, to build effective and compassionate suicide prevention action plans.
  10. And last but not least, we will step up our United to Prevent Suicide social movement with a new focus on boosting employer engagement and reaching groups most likely to be affected by suicide. We will continue to be creative, using different mediums, such as sport and social media, to tackle stigma and create ways for people to talk safely about suicide.

A NEW ADVISORY GROUP

The new National Suicide Prevention Advisory Group will play a vital role.

They will provide independent assurance and advice to the Scottish Government and COSLA on progress, informed by the new outcomes framework.

Rose Fitzpatrick CBE QPM will chair this new group. 

Its members represent many of the sectors leading work on the social determinants of suicide, including poverty, as well as partners who are working in key sectors affected by suicide — such as the criminal justice sector. 

Members have all been selected to help us understand suicide better.

They will help us sharpen focus on the complexity, intersectionality and inequality of suicide.

Doing so will help us deliver impactful actions. We are sure their collective professional insights and passion for the mission, will also make a great difference to our work.

The new group’s membership is:

  • Rose Fitzpatrick CBE QPM — Chair
  • Cath Denholm — Executive Director, Equality and Human Rights Commission Scotland
  • Dr Linda Findlay — Chair, Royal College of Psychiatrists Scotland
  • Louise Hunter— Chief Executive, Who Cares? Scotland
  • Dr Douglas Hutchison — President of the Association of Directors of Education Scotland
  • Peter Kelly — Director, Poverty Alliance
  • Sheriff David Mackie — Board Member, Scottish Association for the Care and Rehabilitation of Offenders
  • Catherine McWilliam — Director of Nations, Institute of Directors
  • Brendan Rooney — Executive Director, Healthy n Happy Community Development Trust
  • Dr Andrea Williamson — Professor of General Practice and Inclusion Health, University of Glasgow

CREATING HOPE IN THE SCOTTISH BORDERS

As part of today’s Go Live event in Galashiels, we’ve published a new film that explores suicide prevention work in the Scottish Borders. It tells the story of how the local approach has been refreshed in light of the new national strategy’s approach.

Highlighting the range and depth of partnerships across the area, we hear powerful stories of how a community is coming together to prevent suicide.

Watch/download: Creating Hope in the Scottish Borders 

You are welcome to use this video, crediting Suicide Prevention Scotland. Please do note edit the video. Closed caption files are available, here.

REFLECTING ON TODAY’S UPDATES

Suicide Prevention Scotland’s new National Delivery Lead Haylis Smith has welcomed today’s announcements: “There has been a huge amount of detailed work over the last eight months to operationalise the Creating Hope Together strategy and action plan.

“Our delivery collective, Suicide Prevention Scotland, is an innovative approach to working together as a suicide prevention community.

“It includes people working across the public, private, and third sectors as well as community groups. Importantly, it also includes many people with lived experience of suicide. This approach builds on the work of the last five years.

“The shared goal is — of course — to prevent suicide, but we’re also focused on how we’ll do this. We will create safer environments, understand better the factors which contribute to suicide, and provide support to those affected. And we will work collaboratively, using evidence and the insight of those with lived experience.

“It’s also important to stress that our work will also focus on addressing inequalities and the needs of those at higher risk of suicide. This will include work to address the needs of children and young people. Our Youth Advisory Group will play a key role in supporting this.”

Minister for Mental Health Maree Todd MSP said: “Together with COSLA we are fully committed to reducing suicide deaths in Scotland. 

“This announcement of our year one priorities is a real milestone in delivering our new ambitious strategy Creating Hope Together, and we are focusing on reaching people who may be at risk of suicide and working to tackle the inequalities which can lead to suicide.

“Our new innovative partnership model is now in place to deliver this ambition programme of work, and our new Advisory Group brings great expertise and impartiality to oversee and champion the work, making sure our work leads to real change on the ground right across Scotland.

“I am pleased to say that the Scottish Government is well on track to doubling the suicide prevention budget by 2026, with funding last year well over £2 million. 

“I would like to pay real thanks to the Suicide Prevention Lived Experience Panel and Youth Advisory Group, and all partners. I look forward to undertaking this incredibly important work together.”

COSLA’s Health & Social Care spokesperson Councillor Paul Kelly said: “I am delighted that COSLA is part of the newly announced suicide prevention delivery collective, ‘Suicide Prevention Scotland’.

“We were proud to launch Creating Hope Together — an ambitious Suicide Prevention Strategy — with the Scottish Government last year. 

“The announcements today represent a key milestone for the strategy, and one which recognises that we can ultimately support more people who are affected by suicide when we work in partnership. 

“The National Suicide Prevention Advisory Group’s membership brings a broad range of expertise and experience which will also help us understand how we can better address the inequalities people experience.

“The strategy outcomes are ambitious and rightly so — together we can and will reduce the number of suicide deaths in Scotland. 

“We thank those working in suicide prevention in Scotland for their ongoing commitment and are looking forward to continuing this vital work.”

Media colleagues are encouraged to follow best practice when reporting on suicide. In particular, we recommend the Samaritans guidelines.

We also encourage calling out for people who may be at risk and recommend the following: 

If you or someone you know is struggling with their mental health or feeling suicidal, please don’t hesitate to ask for help by contacting your GP, NHS24 on 111, Samaritans on 116 123 or Breathing Space on 0800 83 58 87.

£28.3 million delayed discharge price tag in NHS Lothian

BOYACK: ‘Delayed discharge is piling pressure on our hospitals’

Scottish Labour MSP Sarah Boyack has warned that delayed discharge in Lothian is “piling pressure on hospitals” as a new report reveals the issue cost NHS Lothian more that £28million in 2022/23.

Delayed discharge figures monitor the number of days patients spend in hospital despite being fit to leave, typically because of a lack of social care services in their area.

Over the course of the year, a total of 97,118 bed days in NHS Lothian were lost to delayed discharge, as rates across Scotland hit a record high.

This includes 70,208 bed days in the City of Edinburgh.

Analysis by Scottish Labour has revealed that the approximate cost of delayed discharge to NHS Lothian in 2022/23 was an eye-watering £28,368,168.

Scottish Labour MSP Sarah Boyack said: “Delayed discharge in Edinburgh is piling pressure on our hospitals and threatening patients’ recovery.

“Our NHS is at breaking point and every penny matters, and it is a scandal that NHS Lothian has been forced to foot a £28million bill for SNP incompetence.

“Social care in Edinburgh and the Lothian is crying out for help, but the SNP’s botched National Care Service plans will do nothing but centralise local services.

“It is high time for the Scottish Government to step up and provide unwavering support for our social care services and increase pay for the sector’s dedicated workers, so no-one is left languishing in hospital waiting for a care package.”

Delayed discharge 2022/23 – Health Board

Delayed discharge bed days (age 18+) Estimated cost   
Scotland        661,705£193,284,031
NHS Ayrshire & Arran          70,677£20,644,752
NHS Borders          23,079£6,741,376
NHS Dumfries & Galloway          35,692£10,425,633
NHS Fife          40,379£11,794,706
NHS Forth Valley          41,946£12,252,427
NHS Grampian          40,413£11,804,637
NHS Greater Glasgow & Clyde        132,862£38,808,990
NHS Highland          50,566£14,770,329
NHS Lanarkshire          67,388£19,684,035
NHS Lothian          97,118£28,368,168
NHS Orkney            2,312£675,335
NHS Shetland            2,054£599,973
NHS Tayside          52,316£15,281,504
NHS Western Isles            4,903£1,432,166

Delayed discharge 2022/23 – Local Authority

Delayed discharge bed days (age 18+) 
Scotland661,705
Aberdeen City8,945
Aberdeenshire16,832
Angus6,407
Argyll & Bute11,944
City of Edinburgh70,208
Clackmannanshire4,983
Comhairle nan Eilean Siar5,185
Dumfries & Galloway35,511
Dundee City20,286
East Ayrshire9,943
East Dunbartonshire7,607
East Lothian3,251
East Renfrewshire4,652
Falkirk25,500
Fife43,363
Glasgow City74,875
Highland44,897
Inverclyde5,241
Midlothian9,377
Moray14,123
North Ayrshire22,316
North Lanarkshire37,801
Orkney2,427
Perth & Kinross23,700
Renfrewshire7,006
Scottish Borders23,406
Shetland2,142
South Ayrshire40,432
South Lanarkshire41,970
Stirling9,803
West Dunbartonshire13,905
West Lothian13,102

Source: https://publichealthscotland.scot/publications/delayed-discharges-in-nhsscotland-annual/delayed-discharges-in-nhsscotland-annual-annual-summary-of-occupied-bed-days-and-census-figures-data-to-march-2023/
 

Cost per bed day is estimated at £292.10 by adjusting the most recent estimated cost for inflation using the SPICe real terms calculator.   

94% of Edinburgh school leavers are in positive destinations

SNP MSP Gordon Macdonald has welcomed new figures that show 94% of school leavers across Edinburgh are in positive destinations nine months after finishing school.

Across Scotland, the proportion of school leavers in the 2021/22 cohort accessing further or higher education, employment, training or an apprenticeship nine months after leaving school is at its highest since records began. The number of school leavers in work has also reached a record high of 31.8%.

This year has also seen a reduction in the poverty related attainment gap, with the gap between young people from the most and least deprived areas across Scotland in work, training or further study narrowing to a record low of seven percentage points – down from 18.7 percentage points in 2009-10.

Commenting, Gordon Macdonald MSP said: “Despite the challenges of the pandemic and the impact of the ongoing Tory cost of living crisis, young people across Edinburgh are continuing to achieve and excel, and I welcome that 94% have went on to secure work, further education or a training post nine months after leaving schools.

“These encouraging numbers are testament to the hard work and commitment of our young people, teachers and parents – and show that this Scottish Government is delivering on its education commitments and closing the attainment gap.

“Much progress has been made in Scotland to increase opportunities for young people, but the only way to properly tackle the poverty related attainment gap is to tackle poverty – which will always be impossible under this Tory UK government, and their punitive austerity measures.

“Scotland needs independence now, so that it can have the full powers at its disposal to properly address poverty and continue to support young people across the city to thrive.”

YearLA codeLA NameNumber of leaversPositive DestinationPercentage %
2021/22100Aberdeen City1,7911,62791%
2021/22110Aberdeenshire2,8032,63094%
2021/22120Angus1,3101,21493%
2021/22130Argyll & Bute83678894%
2021/22150Clackmannanshire54247688%
2021/22170Dumfries & Galloway1,6421,53293%
2021/22180Dundee City1,3891,27292%
2021/22190East Ayrshire1,2971,20493%
2021/22200East Dunbartonshire1,4271,39598%
2021/22210East Lothian1,1021,04295%
2021/22220East Renfrewshire1,4281,39297%
2021/22230Edinburgh, City of3,5873,37994%
2021/22235Na h-Eileanan Siar26725796%
2021/22240Falkirk1,7001,57693%
2021/22250Fife4,0793,75892%
2021/22260Glasgow City4,9764,71695%
2021/22270Highland2,5542,38493%
2021/22280Inverclyde83576792%
2021/22290Midlothian1,0841,02094%
2021/22300Moray96090394%
2021/22310North Ayrshire1,5141,41093%
2021/22320North Lanarkshire3,9033,58592%
2021/22330Orkney Islands213[c]
2021/22340Perth & Kinross1,4601,38495%
2021/22350Renfrewshire1,9071,75192%
2021/22355Scottish Borders1,2461,18795%
2021/22360Shetland Islands25924695%
2021/22370South Ayrshire1,1761,14097%
2021/22380South Lanarkshire3,4413,24394%
2021/22390Stirling1,1401,06994%
2021/22395West Dunbartonshire98087789%
2021/22400West Lothian2,1822,01192%

Record number of school leavers in work, training or study – gov.scot (www.gov.scot)