Prime Minister Boris Johnson admits guilt at last – but serial liar refuses to resign
Prime Minister Boris Johnson and Chancellor of the Exchequer Rishi Sunak have both been fined by the Metropolitan Police for breaching Covid regulations.
Prime Minister Boris Johnson made the following statement yesterday:
Today I have received a fixed penalty notice from the Metropolitan Police relating to an event in Downing Street on 19th June 2020, and let me say immediately that I have paid the fine and I once again offer a full apology.
And in a spirit of openness and humility, I want to be completely clear about what happened on that date.
My day began shortly after 7am, and I chaired eight meetings in No10, including the Cabinet Committee deciding Covid strategy, I visited a school in Hemel Hempstead, which took me out of Downing Street for over four hours.
And amongst all these engagements, on a day that happened to be my birthday, there was a brief gathering in the Cabinet Room shortly after 2pm, lasting for less than 10 minutes, during which people I work with kindly passed on their good wishes.
And I have to say in all frankness, at the time, it did not occur to me that this might have been a breach of the rules.
But of course the police have found otherwise and I fully respect the outcome of their investigation.
I understand the anger that many will feel that I myself fell short when it came to observing the very rules which the Government I lead had introduced to protect the public, and I accept in all sincerity that people had a right to expect better.
Now I feel an even greater sense of obligation to deliver on the priorities of the British people:
strengthening our economy,
creating jobs and opportunities,
levelling up the whole United Kingdom,
now, of course, ensuring that Putin fails in Ukraine, and easing the burden imposed on hard-working families caused by higher energy prices.
I will take forward that task with due humility, but with maximum determination to fulfil my duty and do what is best for the country I serve.
Whether this short statement, which addresses transgressions commited on just ONE day during lockdown, will be enough to save his political life is now in the hands of Conservative MPs, and Conservative MPs alone.
If it was left to the people of the country to decide Johnson’s fate – those millions of people who stuck to the Covid rules imposed by this government – there can be little doubt Johnson would be finished.
The Prime Minister said it himself: people had a right to expect better.If he had a scintilla of honour, Johnson would resign without delay.
Official figures reveal that council taxpayers in Edinburgh pay on average £587 a year less than they would in Tory-run England and £398 less than in Labour-run Wales.
Across Scotland, council tax payers get the best deal in Britain. The figures also demonstrate that the savings for Scottish council tax payers in comparison to what those in England and Wales will pay is going to be even greater next year.
The research shows that Band D council tax payers in Edinburgh pay £1,379 which is £587 less than the equivalent in England and £398 less than in Wales.
Council tax across Scotland is lower than in England – for 2022/23, the average Band D Council Tax bill in Scotland is £1347 compared to £1966 in England and £1777 in Wales.
For 2022/23, the average charge for all property bands, including E, F, G and H, is between £413 and £651 lower in Scotland than England.
The average council tax increase in Scotland for 2022/23 was 3.0%, compared with 3.5% in England and 2.7% in Wales.
Commenting, SNP MSP Gordon MacDonald said: “Council taxpayers in Edinburgh are paying £587 less than they would in England. In fact, council taxpayers across Scotland get the best deal in Britain.
“On top of the £150 council tax rebate announced last month by Finance Secretary Kate Forbes, this demonstrates that the Scottish Government is doing all it can within its restricted powers and resources to keep as much money as possible in the pockets of Scottish families.
“Council tax bills in Edinburgh are so substantially lower because the SNP has such a strong record of delivering the best value. For an entire decade the SNP Scottish Government froze the cost of council tax – despite Westminster continuing to slash the Scottish budget.
“The SNP Scottish Government is also rolling out a social security system based on fairness and respect. It has introduced the ‘game-changing’ Scottish Child Payment – which will deliver £25 per week per child for the lowest income families in Edinburgh – and we are increasing a range of Scottish social security benefits by six per cent.
“It is a glaring contrast with the Westminster Tory Government which, far from protecting hard-pressed families from the spiralling Tory cost of living crisis, it callously cut vital Universal Credit support by £20 a week for the poorest families.
“This is a real tale of two Governments and the people of Scotland will have the opportunity to send a message to Boris Johnson by rejecting the Tories in the local elections on May 5.”
‘A tale of two governments’?It’s worth pointing out that neither Boris Johnson nor Nicola Sturgeon will be standing in May’s LOCAL government elections. These elections are supposed to be about who runs our council services!
Edinburgh is currently under the control of an SNP – Labour ‘Capital Coalition’ partnership. Do you think Edinburgh taxpayers are really getting a ‘good deal’? – Ed. …
Tax cut worth up to £1,000 for eligible businesses announced by the Chancellor at the Spring Statement takes effect today
Increase in Employment Allowance from £4,000 to £5,000 benefits around 495,000 businesses – 30% of all UK firms
Takes the total number of firms not paying the Health and Social Care Levy to 670,000
Nearly half a million UK businesses will benefit from a tax cut worth up to £1,000 from today (6 April 2022).
The Employment Allowance has risen from £4,000 to £5,000 – meaning smaller firms will be able to claim up to £5,000 off their employer National Insurance Contributions (NICs) bills.
Announced by the Chancellor at last month’s Spring Statement to reduce employment costs, the change takes an extra 50,000 firms out of paying NICs and the Health and Social Care Levy. This increases the total number of businesses not paying NICs and the Levy to 670,000.
Chancellor Rishi Sunak said: “This tax cut for half a million businesses will help them thrive and grow to help drive our economic recovery.
“It comes on top of a suite of wider tax cuts available to firms, including 50% business rates relief, a record fuel duty cut and the super-deduction, the largest two-year business tax cut in our history.”
This is the third time the government has increased the Employment Allowance since its introduction in 2014, demonstrating an enduring commitment to supporting smaller businesses. Firms will be able to employ four full-time workers on the National Living Wage without paying employer NICs at all.
94% of businesses benefitting from the £1,000 increase are small and micro businesses, and the sectors that will see the highest numbers of employers benefitting are the wholesale and retail sector (87,000); the professional, scientific and technical activities industry (63,000); and the construction sector (52,000).
Today’s Employment Allowance change is one of a number of measures on offer to spur business growth, including that:
Last week eligible high street businesses saw the start of a new 50% business rates relief worth almost £1.7 billion, subject to a £110,000 cash cap per business.
Businesses across the board are also benefitting from a freeze to the business rates multiplier, putting the brakes on bill increases and worth £4.6 billion over the next five years.
Businesses are already benefitting from our temporary twelve-month-long 5p cut to fuel duty.
Companies have one year left to make investments that benefit from the super-deduction, the largest two-year business tax cut in modern British history.
Our landmark Help to Grow programmes are supporting SMEs to adopt productivity enhancing software and to get mini-MBAs.
We will ensure that our tax regime for innovation is globally competitive and properly incentivises higher business investment in R&D, with further plans to be set out in the Autumn.
Michelle Ovens CBE, founder, Small Business Britain, said: “The Chancellor’s move to increase the employment allowance is welcome, and will certainty play a role in helping those businesses with employees deal with the huge cost-of-living challenges they are currently facing.
“In particular, it is good to see the immediacy of this rise in employment allowance, which will go towards helping businesses asap.”
Martin McTague, National Chair of the Federation of Small Businesses, said: ““The increase in the Employment Allowance helps small firms do what they do best, creating and sustaining jobs.
“This was FSB’s ‘hero ask’ at the Spring Statement, and we have hugely valued the time taken by Treasury officials to work with us on the positive impact this will have not just on work opportunities, but also training and investment.
“The Chancellor has now raised the Allowance twice since his appointment, stepping up for small businesses.”
Lee Harris-Hamer, from White Horse cleaning services based in Thirsk, North Yorkshire, said: “As a growing company, we appreciate the opportunity to reduce our annual NI liability because this helps us to invest the savings in other areas like staff training and further growth.
“Staff are our key asset and we want to be able to continue recruiting and offering more employment opportunities locally. Government has supported us with the change and we are proud to be members of FSB who championed the increase.”
Jo Bevilacqua, owner of Serenity Loves hair and beauty salon, Peterborough: “This rise in the employment allowance offers welcome breathing space for my small business and others like us across the country.
“In an age where we are all facing increasing costs from all angles and every penny counts, this will help ease some pressure, allowing us to invest more in staff – whether it is increasing salaries or offering training.”
Employability services to help those most at risk of long-term unemployment will receive up to £113 million of funding.
To deliver the ambitions set out in the National Strategy for Economic Transformation and the Child Poverty Delivery Plan, tailored services based on local needs will ensure the right help is given to ensure people are supported to move towards and into work.
The No One Left Behind approach – which includes the Young Person’s Guarantee – sees services funded through Local Employability Partnerships (LEPs) bringing together local government, Skills Development Scotland, Department for Work and Pensions, colleges, the third sector and other partners to provide support that meets both individual and labour market needs in each area. This is crucial to achieving shared aims around tackling poverty and inequalities.
The National Strategy for Economic Transformation aims to build a fairer and more equal society by ensuring economic transformation which tackles inequality, drives up working standards and improves pay. It also outlines how partnership working can support people into jobs by tackling labour market inequalities and unlocking Scotland’s economic potential.
Employment Minister Richard Lochhead said: “Redesigning services with the user in mind is part of the bold steps we’re taking to achieve the goals of the National Strategy for Economic Transformation.
“If delivering on our objectives involves change to get a better outcome for the people of Scotland, we won’t duck from that challenge.
“We have always been clear that No One Left Behind places people at the centre of employability services and support, to give them help tailored to their specific needs. I’m pleased that in 2022/23 we are able to invest up to £113 million to support those at risk of long-term unemployment.
“This investment will build on existing support to deliver more localised help around employability and skills to people most disadvantaged in the labour market. It will also align more closely with other local services in housing, justice, advice, and health.”
Bill to deliver £330 national insurance contributions cut announced by the Chancellor at the Spring Statement gets Royal Assent
Change means threshold at which individuals start to pay NICs will rise by almost £3,000 and align with the income tax personal allowance from July
70% of workers who pay NICs will pay less, even after accounting for the introduction of the Health and Social Care Levy
The UK government’s measures to tackle the cost-of-living crisis reached a key milestone this week, after a bill to raise NICS thresholds by almost £3,000 and deliver a tax cut worth over £330 for a typical employee in the year from July became law.
The National Insurance Contributions (Increase of Thresholds) Act, which received Royal Assent on Thursday, raises the threshold at which individuals start to pay NICs, aligning it with the income tax personal allowance at £12,570 from July 2022.
Around 2.2m working age people will be taken out of paying Class 1 NICs, applying to employees, and Class 4 NICs, for the self-employed, altogether. From July, around 70% of workers who pay NICs will be better off, even accounting for the introduction of the Health and Social Care Levy.
At the Spring Statement the Chancellor set out a tax plan that will help families with the cost of living, support growth in the economy, and ensure the proceeds of growth are shared fairly. As well as the NICs threshold rise it included a 12-month-long 5p cut to fuel duty and a cut in the basic rate of income tax, to 19p in the pound, taking effect in 2024.
Chancellor of the Exchequer Rishi Sunak said: “I know people are worried about making ends meet, with global supply chain challenges and Russia’s invasion of Ukraine driving up the cost of living for families across the UK.
“That’s why this tax cut for almost 30 million people is so important. And it’s part of further support worth over £22 billion in 2022-23 to help with the cost of living, by helping people with their energy bills and ensuring people keep more of their money.”
Thanks to above inflation increases in the income tax personal allowance and the NICs Primary Threshold since 2010-11, a typical basic rate taxpayer earning £24,000 in 2022-23 will pay £1,140 less in income tax and NICs than they otherwise would have, even after accounting for the Health and Social Care Levy.
That comprises £760 less income tax and around £380 less NICs in 2022-23 compared to what they otherwise would have paid.
The July threshold rise is a tax cut for a typical employee worth over £330 in the year from July 2022; the equivalent saving for a typical self-employed person, who pay lower NICs rates, would be worth over £250.
The UK Government has taken action worth over £22 billion next financial year to help with the cost of living including the fuel duty cut, increases to the NICs thresholds and an extra £500 million for the Household Support Fund to help those most in need.
They say they’re also helping low-income families keep more of what they earn by reducing the Universal Credit taper rate, boosting incomes by £1000 per average full time worker by increasing the National Living Wage and providing over £9 billion to help with rising energy bills.
Chancellor expected to unveil Spring Statement that builds a stronger, more secure economy for the United Kingdom.
Rishi Sunak will set out further plans to support people with the rising cost of living and pledge to continue to “stand by” hard-working families during the challenging times ahead.
He will say that freedom and democracy remain the best route to peace, prosperity, and happiness and that a strong economy is fundamental in enabling us to counter the threat Russia poses to our values.
The Chancellor will today deliver a Spring Statement that ‘builds a stronger, more secure economy for the United Kingdom’.
With people across the UK facing growing pressures exacerbated by the war in Ukraine, Rishi Sunak will pledge to continue to “stand by” hard-working families and outline further plans to help with the rising cost of living.
Alongside Britain continuing its “unwavering” support to Ukraine, he will add that a stronger economy is vital in responding to the threat of President Putin and that freedom and democracy remain the best route to peace, prosperity, and happiness.
Delivering the Spring Statement, Chancellor Rishi Sunak is expected to say:“We will confront this challenge to our values not just in the arms and resources we send to Ukraine but in strengthening our economy here at home.
“So when I talk about security, yes – I mean responding to the war in Ukraine. But I also mean the security of a faster growing economy.
“The security of more resilient public finances. And security for working families as we help with the cost of living.”
The Chancellor’s statement is also expected to set out how the government plans to create a new culture of enterprise, with the private sector training more, investing more, and innovating more.
The Spring Statement will build on UK government support worth around £21 billion this year and next to help families with the cost of living.
That includes the £9.1 billion Energy Bills Rebate, putting an average of £1,000 more per year into the pockets of working families via changes to Universal Credit and freezing fuel and alcohol duties to keep costs down.
The Government is also raising the National Living Wage to £9.50 per hour from April, meaning people working full time on the National Living Wage will see a £1,000 increase in their annual earnings.
And the Government’s Plan for Jobs is also helping people into work and giving them the skills they need to progress – the best approach to managing the cost of living in the long term.
Bold action needed to tackle cost of living
The UK Government must take bold and decisive action to help protect people from soaring living costs, according to Holyrood Finance Secretary Kate Forbes.
Speaking ahead of the Spring Statement, Ms Forbes said the Chancellor of the Exchequer must use every tool available to provide support through what is expected to be a turbulent period of economic uncertainty.
Finance Secretary Kate Forbes said: “This is not a time to be ducking the considerable challenges we face, and I expect the Chancellor to use the Spring Statement to outline significant actions to support households and businesses, considering that most of the relevant powers are reserved to the UK Government.
“The Scottish Government is doing all it can to help those most in need. We are uprating eight Scottish benefits by 6% from 1 April as well as doubling our Scottish Child Payment to £20 per week per eligible child. I call again on the UK Government to follow our lead and uprate social security benefits by 6%.”
The Scottish Government has called on the Chancellor to:
increase benefits at a higher rate, closer to inflation
implement business relief on National Insurance contributions
provide immediate funding to sectors directly impacted by the Russia/Ukraine conflict
remove/reduce VAT on household energy bills
take VAT off energy efficient and zero emissions heat equipment and products
provide powers to implement flexible working, to get more people into jobs
deliver two extra Cold Weather Payments – one immediately and another in winter 2022-23 when energy bills will have risen again.
Commenting on today’s (Wednesday) inflation figures, which show CPI inflation rising to a 30-year high of 6.2% in February, TUC General Secretary Frances O’Grady said: “The Chancellor must respond to high inflation today with much greater help for families with soaring bills and a plan to get wages rising.
“Families need grants, not loans to help with soaring energy bills. These should be funded by a windfall tax on excess profits from gas and oil. Universal credit should get a boost to help families keep up with the rising cost of living.
“And we need a comprehensive plan to get wages rising, including new pay bargaining rights for workers and their unions.”
Scotland’s Finance Secretary writes to Treasury ahead of Spring Statement
People and businesses need urgent UK Government support to mitigate the rising cost of living, says Finance Secretary Kate Forbes.
In a letter to the Chancellor of the Exchequer Rishi Sunak ahead of the Spring Statement, Ms Forbes called on UK Ministers to match the 6% uprate on social security benefits which the Scottish Government is delivering on eight of the benefits it delivers, and for further payments to be made to low income households through the Cold Weather Payment
The letter to the UK Government also calls for:
more targeted funding to business sectors directly affected by the conflict in Ukraine
relief to business on National Insurance Contributions
the removal of VAT from energy efficient and zero emission heat equipment and products
greater powers for the Scottish Government to work with employers to implement flexible working
full replacement of EU funding lost to Scotland as a result of Brexit, as promised by the UK Government
The Scottish Government ‘stands ready’ to work with the UK Government, which holds the powers to tackle the most pressing issues, to put a package of support in place.
Ms Forbes said: “In Scotland we are doing all we can to ensure people, communities and businesses are given as much support as possible to deal with the rising cost of living and the potential economic implications of Russia’s illegal invasion of Ukraine.
“However, many of the powers required to really tackle these issues are reserved to the UK Government, which is why I am calling on the Chancellor to take much needed action in his Spring Statement.
“The Scottish Government is uprating eight Scottish benefits by 6% from 1 April as well as doubling our Scottish Child Payment from £10 per week per eligible child to £20. We are using our powers to help those who need us most in these difficult times and it is time for the UK Government to follow our lead and uprate social security benefits by 6%.
“I would also ask for further immediate support to be delivered through the Cold Weather Payment, with an additional payment now and another next winter when we know energy bills will have risen again.”
South Queensferry residents are embroiled in a bitter battle with Transport Scotland to secure road access to their new homes.
Transport Scotland have refused access to the Ferrymuir Gait road forcing all residents from the new development to travel through the existing Varney Estate.
All 124 houses on the development must now use Henry Ross Place despite Ferrymuir Gait being the most direct route into the housing development.
Heavy construction traffic used Ferrymuir Gait throughout the build.
The developer has offered to upgrade the road to adoptable standards and Edinburgh Council has indicated a will to adopt the road once this takes place.
Transport Scotland could risk court action if the refusal to permit access continues.
Lothian MSP Foysol Choudhury said: “There is considerable anger among residents from both developments. They are strongly in favour of Ferrymuir Gait being used to access the new development.
“Despite my attempts at mediation, this issue has remained irreconcilable for many months, and looks like it will inevitably end in legal action.
“For the sake of the use of one road, Transport Scotland appear to be willing to drag this through the courts at what will inevitably be great expense to the taxpayer.
“I do not believe that the Scottish public will see legal action to prevent residents’ access to new homes as a good or explicable use of public funds.
“It seems to me that it is clearly in the public interest – from the point of view of the residents and the Scottish taxpayer – that this matter be settled reasonably between the two parties.
P&O staff and other trades unionists will join demonstrations in Dover, Liverpool, and Hull today, condemning P&O for sacking 800 staff.
The company, which is funded by the Dubai Royal Family, stunned workers in a pre-recorded Zoom call, when they informed staff that they were being dismissed and would be replaced by cheap agency labour from abroad.
When workers rightly refused to simply accept this despotic decision, private security staff with handcuffs, believed to have been hired by the company, began to drag workers off the ships.
RMT general secretary Mick Lynch said: “It is vital workers from every industry mobilise for the demonstrations on Friday.
“We need to send a message to ruthless employers and the government alike, that when working people are treated so abysmally, there is a militant response from the trade union movement.
“This example of gangster capitalism which our members in P&O have been subjected, is what lies ahead for other workers up and down the country if we do not all take a stand.”
Liverpool: 1.00pm Main Liverpool Port entrance Liverpool L21 1LA
Hull: 12. 00 midday– King George Dock, Hull HU9 5PR
Labour’s Shadow Transport Secretary Louise Haigh said: “This scandalous action is a betrayal of the workers that kept this country stocked throughout the pandemic. Unscrupulous employers cannot be given free rein to sack their workforce in secure jobs and replace with agency staff.
“The Conservative government must not give the green light to this appalling practice and must act to secure the livelihoods of these workers.”
First Minister Nicola Sturgeon tweeted: “I’m deeply concerned at P&O announcement – due to the importance to Scotland of the Cairnryan/Larne route obviously, but also the impact on 100s of workers.
“Fire & rehire is an appalling practice & offends the basic principle of fair work. @scotgov will be seeking urgent talks”.
While the UK Government has made no official comment, Defence Minister James Heapey told BBC’s Breakfast that P&O Ferries have ‘behaved disgracefully’ but admitted that the company’s ‘despicable’ fire and rehire action is not something the government could have stopped. He said the government will focus on supporting the workers who have lost their jobs .
Union body calls on ministers to urgently bring forward an employment bill to end fire and rehire style practices
Workers must be reinstated immediately – and P&O Ferries must face serious consequences if they fail to do this, says TUC
What happened to P&O workers “can’t ever be allowed to happen again”, says TUC
The TUC has called for the “scandalous” treatment of P&O workers to be a “turning point” for workers’ rights in the UK.
The union body says ministers must bring forward an employment bill now to stop workers from “being treated like disposable labour”.
The call comes after 800 P&O crew were sacked without notice on Thursday and threatened with handcuffs if they refused to leave their ships.
P&O Ferries’ actions appear to be unlawful. But the TUC says these events show that UK employment law urgently needs strengthening to penalise bad employers.
The union body says ministers must use an employment bill to:
End fire and rehire style practices and stop companies firing at will: P&O has exploited many of the same weaknesses in the law as companies using the punitive fire and rehire tactics. TUC research published during the pandemic revealed that 1 in 11 (9%) of workers have been forced to re-apply for their jobs on inferior terms and conditions. The law should state that no notices of dismissal can be given until consultation has been completed. Employees should be given protection from unfair dismissal from day one in the job.
Increase penalties on companies that break employment law: P&O’s failure to consult staff on their redundancies was unlawful. But companies who flout employment law in this way currently face very low fines and can get away with offering staff measly compensation.
Ban other forms of exploitative practices: More than 1 million workers in the UK are employed on zero-hours contracts and thousands of others are employed in bogus self- employment. The TUC says zero-hours contracts and umbrella companies should be banned.
In addition, the TUC is calling on the government to:
Remove DP World (P&O ferries owner) from any government advisory groups: DP World currently sits on the influential UK Government’s Transport Advisory Group.
Get around the table with unions representing members in the sector to urgently review government contracts with P&O and ensure livelihoods are protected
Reinstate sacked staff
All sacked staff must be reinstated immediately without loss of pay, the TUC is demanding – adding that P&O should face serious consequences.
The union body has warned the government that a “slap on the wrist” from ministers would not be good enough.
And the government must put in place measures to ensure that all future procurement comes with a commitment from companies receiving public money to respect workers’ rights.
TUC General Secretary Frances O’Grady said: “Everyone deserves to be treated with dignity and respect at work. But bad bosses can still get away with treating staff like disposable labour.
“What happened at P&O is a national scandal – it can’t ever be allowed to happen again. Enough is enough. This must be turning point for workers’ rights in the UK.
“The government must urgently bring forward an employment bill that strengthens workplace protections and that imposes strong penalties on employers who break the law.
“The prime minister vowed to make Britain the best country in the world to work. He has run out of excuses for failing to deliver on that promise.”
On the need for the government to penalise P&O, Frances added: “P&O has acted appallingly. It must be made an example of.
“A slap on the wrist is not going to cut it.
“If the company refuses to reinstate all of its sacked staff it should face serious consequences.”
Joint statement by the leaders of the G7: 11 March 2022
We the Leaders of the Group of Seven (G7) remain resolved to stand with the Ukrainian people and government who heroically resist Russian President Vladimir Putin’s military aggression and war of choice against their sovereign nation.This unprovoked and unjustified attack is causing enormous suffering and a tragic loss of life, including through the increasingly indiscriminate bombing and shelling of civilians in schools, homes, and hospitals.
We are united in our determination to hold President Putin and his regime accountable for this unjustified and unprovoked war that has already isolated Russia in the world. The world should join together in calling on President Putin and his regime to immediately stop its ongoing assault against Ukraine and withdraw its military forces. We stand in solidarity with those who are bravely opposing the invasion of Ukraine.
We urge Russia to ensure safe and unhindered humanitarian access to victims of its assault in Ukraine, and to allow safe passage for civilians wishing to leave. We call for, and commit to provide, humanitarian, medical and financial support to refugees from Ukraine.
Since President Putin launched the Russian Federation’s invasion on February 24, our countries have imposed expansive restrictive measures that have severely compromised Russia’s economy and financial system, as evidenced by the massive market reactions. We have collectively isolated key Russian banks from the global financial system; blunted the Central Bank of Russia´s ability to utilise its foreign reserves; imposed sweeping export bans and controls that cut Russia off from our advanced technologies; and targeted the architects of this war, that is Russian President Vladimir Putin and his accomplices, as well as the Lukashenko regime in Belarus.
In addition to announced plans, we will make further efforts to reduce our reliance on Russian energy, while ensuring that we do so in an orderly fashion and in ways that provide time for the world to secure alternative and sustainable supplies. In addition, private sector companies are leaving Russia with unprecedented speed and solidarity. We stand with our companies that are seeking an orderly withdrawal from the Russian market.
We remain resolved to isolate Russia further from our economies and the international financial system. Consequently, we commit to taking further measures as soon as possible in the context of our ongoing response and consistent with our respective legal authorities and processes:
First, we will endeavor, consistent with our national processes, to take action that will deny Russia Most-Favoured-Nation status relating to key products. This will revoke important benefits of Russia’s membership of the World Trade Organization and ensure that the products of Russian companies no longer receive Most-Favoured-Nation treatment in our economies. We welcome the ongoing preparation of a statement by a broad coalition of WTO members, including the G7, announcing their revocation of Russia’s Most-Favoured-Nation status.
Second, we are working collectively to prevent Russia from obtaining financing from the leading multilateral financial institutions, including the International Monetary Fund, the World Bank and the European Bank for Reconstruction and Development. Russia cannot grossly violate international law and expect to benefit from being part of the international economic order. We welcome the IMF and World Bank Group’s rapid and ongoing efforts to get financial assistance to Ukraine. We also welcome the steps the OECD has taken to restrict Russia’s participation in relevant bodies.
Third, we commit to continuing our campaign of pressure against Russian elites, proxies and oligarchs close to President Putin and other architects of the war as well as their families and their enablers. We commend the work done by many of our governments to identify and freeze mobile and immobile assets belonging to sanctioned individuals and entities, and resolve to continue this campaign of pressure as a matter of priority. To that end, we have operationalised the task force announced on February 26, which will target the assets of Russian elites close to President Putin and the architects of his war. Our sanctions packages are carefully targeted so as not to impede the delivery of humanitarian assistance.
Fourth, we commit to maintaining the effectiveness of our restrictive measures, to cracking down on evasion and to closing loop-holes. Specifically, in addition to other measures planned to prevent evasion, we will ensure that the Russian state and elites, proxies and oligarchs cannot leverage digital assets as a means of evading or offsetting the impact of international sanctions, which will further limit their access to the global financial system. It is commonly understood that our current sanctions already cover crypto-assets. We commit to taking measures to better detect and interdict any illicit activity, and we will impose costs on illicit Russian actors using digital assets to enhance and transfer their wealth, consistent with our national processes.
Fifth, we are resolved to fighting off the Russian regime’s attempts to spread disinformation. We affirm and support the right of the Russian people to free and unbiased information.
Sixth, we stand ready to impose further restrictions on exports and imports of key goods and technologies on the Russian Federation, which aim at denying Russia revenues and at ensuring that our citizens are not underwriting President Putin’s war, consistent with national processes. We note that international companies are already withdrawing from the Russian market. We will make sure that the elites, proxies and oligarchs that support President Putin’s war are deprived of their access to luxury goods and assets. The elites who sustain Putin’s war machine should no longer be able to reap the gains of this system, squandering the resources of the Russian people.
Seventh, Russian entities directly or indirectly supporting the war should not have access to new debt and equity investments and other forms of international capital. Our citizens are united in the view that their savings and investments should not fund the companies that underpin Russia’s economy and war machine. We will continue working together to develop and implement measures that will further limit Russia’s ability to raise money internationally.
We stand united and in solidarity with our partners, including developing and emerging economies, which unjustly bear the cost and impact of this war, for which we hold President Putin, his regime and supporters, and the Lukashenko regime, fully responsible. Together, we will work to preserve stability of energy markets as well as food security globally as Russia’s invasion threatens Ukraine’s capacity to grow crops this year.
We continue to stand with the Ukrainian people and the Government of Ukraine. We will continue to evaluate the impacts of our measures, including on third countries, and are prepared to take further measures to hold President Putin and his regime accountable for his attack on Ukraine.
