Tag: UK Government

Pension ‘megafunds’ could unlock £80 billion of investment

Chancellor takes radical action to drive economic growth

  • Biggest pension reforms in decades will merge Local Government Pension Scheme assets and consolidate defined contribution schemes into megafunds
  • Changes could unlock around £80 billion of investment for infrastructure projects and businesses of the future  
  • Local Government Pension Scheme changes will free up money for local public services in the long-term and secure more than £20 billion for investment in local communities

Pension megafunds will be created as part of the biggest set of pension reforms in decades, unlocking billions of pounds of investment in exciting new businesses and infrastructure and local projects.   

After her inaugural Budget that ‘fixed the foundations to deliver stability’, Rachel Reeves will use her first Mansion House speech as Chancellor to announce bold action to tackle the fragmented pensions landscape, deliver investment and drive economic growth – which is the only way to make people better off.  

The radical reforms, which will be introduced through a new Pension Schemes Bill next year, will create megafunds through consolidating defined contribution schemes and pooling assets from the 86 separate Local Government Pension Scheme authorities.  

These megafunds mirror set-ups in Australia and Canada, where pension funds take advantage of size to invest in assets that have higher growth potential, which could deliver around £80 billion of investment in exciting new businesses and critical infrastructure while boosting defined contribution savers’ pension pots.

Chancellor of the Exchequer, Rachel Reeves said: “Last month’s Budget fixed the foundations to restore economic stability and put our public services on a firmer footing. Now we’re going for growth.   

“That starts with the biggest set of reforms to the pensions market in decades to unlock tens of billions of pounds of investment in business and infrastructure, boost people’s savings in retirement and drive economic growth so we can make every part of Britain better off.”

Deputy Prime Minister, Angela Rayner said: “We’ve all seen the fantastic work carried out day in, day out, by our frontline workers and it’s about time their pension started working just as hard by driving investment in their communities. 

“This is about harnessing the untapped potential of the pensions belonging to millions of people, and using it as a force for good in boosting our economy.”

Pensions Minister, Emma Reynolds said: “Harnessing the power of this multi-billion-pound industry is a win-win, benefiting future pensioners, and our wider economy.  

“These reforms could unlock £80 billion of investment into exciting new businesses and critical infrastructure.”

The UK pension system is one of the largest in the world – with the Local Government Pension Scheme and Defined Contribution market set to manage £1.3 trillion in assets by the end of the decade.

However, our pension landscape is fragmented and lacks the size needed to invest in exciting new businesses or expensive projects like infrastructure.  

The government’s analysis – published today in the interim report of the Pensions Investment Review at Mansion House – shows that pension funds begin to return much greater productive investment levels once the size of assets they manage reaches between £25-50 billion.

At this point they are better placed to invest in a wider range of assets, such as exciting new businesses and expensive infrastructure projects. Even larger pensions funds of greater than £50 billion in assets can harness further benefits including the ability to invest directly in large scale projects such as infrastructure at lower cost.  

This is supported by evidence from Canada and Australia. Canada’s pension schemes invest around four times more in infrastructure, while Australia pension schemes invest around three times more in infrastructure and 10 times more in private equity, such as businesses, compared to Defined Contribution schemes in the UK.

Benchmarking against domestic and international examples show how consolidation of the Local Government Pension Scheme and defined contribution schemes into megafunds could unlock around £80 billion of investment in productive investments like infrastructure and fast-growing companies.  

The government is therefore consulting on proposals to take advantage of pension fund size and improve their governance. 

Local Government Pension Scheme

The Local Government Pension Scheme in England and Wales will manage assets worth around £500 billion by 2030. These assets are currently split across 86 different administering authorities, managing assets between £300 million and £30 billion, with local government officials and councillors managing each fund.  

Consolidating the assets into a handful of megafunds run by professional fund managers will allow them to invest more in assets like infrastructure, supporting economic growth and local investment on behalf of the 6.7 million public servants – most of whom are low-paid women – whose savings are managed.  

These megafunds will need to meet rigorous standards to ensure they deliver for savers, such as needing to be authorised by the Financial Conduct Authority. Governance of the Local Government Pension Scheme will also be overhauled to deliver better value from investment decisions, which independent research suggests could free up money in the long-term to support local public services. 

Local economies will be boosted by the changes as each Administering Authority will be required to specify a target for the pool’s investment in their local economy, working in partnership with Local and Mayoral Combined Authorities to identify the best opportunities to support local growth. If each Administering Authority were to set a 5% target, that would secure £20 billion of investment in local communities.  

A new independent review process will be established to ensure each of the 86 Administering Authorities is fit for purpose.   

Defined contribution schemes

Defined contribution pension schemes are set to manage £800 billion worth of assets by the end of the decade.  

There are currently around 60 different multi-employer schemes, each investing savers’ money into one or more funds. The Government will consult on setting a minimum size requirement for these funds to ensure they deliver on their investment potential.  

The government will also consult on measures to facilitate this consolidation into megafunds, including legislating to allow fund managers to more easily move savers from underperforming schemes to ones that deliver higher returns for them.

Zero tolerance for failure under package of tough NHS reforms

Health and Social Care Secretary will outline how government and NHS leaders have a duty to patients and taxpayers to get the system working well

  • Wes Streeting to reveal package of reforms and announce new league table of NHS England providers, with top talent attracted to most challenging areas and persistently failing managers to be sacked
  • Turn around teams sent into struggling hospitals, while best performers given greater freedoms over funding to modernise technology and equipment
  • No more rewards for failure, with reforms to ensure every penny of extra investment into NHS is well spent and waiting times for patients slashed

NHS league tables will be introduced to help tackle the NHS crisis and ensure there are ‘no more rewards for failure’, as part of a tough package of reforms to be announced by the Health and Social Care Secretary Wes Streeting today (Wednesday 13 November).

Addressing the nation’s health leaders at the NHS Providers’ annual conference in Liverpool, he will outline how government and NHS leaders have a duty to patients and taxpayers to get the system working well and get better value for money.

NHS England will carry out a no holds barred sweeping review of NHS performance across the entire country, with providers to be placed into a league table. This will be made public and regularly updated to ensure leaders, policy-makers and patients know which improvements need to be prioritised. 

Persistently failing managers will be replaced and turn around teams of expert leaders will be deployed to help providers which are running big deficits or poor services for patients, offering them urgent, effective support so they can improve their service.

High-performing providers will be given greater freedom over funding and flexibility. There is little incentive across the system to run budget surpluses as providers can’t benefit from it. The reforms today will reward top-performing providers and give them more capital and greater control over where to invest it in modernising their buildings, equipment and technology.

The government will deliver a health service fit for the future, fixing the foundations while delivering change with investment and reform to deliver growth, get the NHS back on its feet, and rebuild Britain.

Health and Social Care Secretary Wes Streeting said: “The Budget showed this government prioritises the NHS, providing the investment needed to rebuild the health service. Today we are announcing the reforms to make sure every penny of extra investment is well spent and cuts waiting times for patients.

“There’ll be no more turning a blind eye to failure. We will drive the health service to improve, so patients get more out of it for what taxpayers put in.

“Our health service must attract top talent, be far more transparent to the public who pay for it, and run as efficiently as global businesses.

“With the combination of investment and reform, we will turn the NHS around and cut waiting times from 18 months to 18 weeks.”

Amanda Pritchard, NHS chief executive said: “While NHS leaders welcome accountability, it is critical that responsibility comes with the necessary support and development.

“The extensive package of reforms, developed together with government, will empower all leaders working in the NHS and it will give them the tools they need to provide the best possible services for our patients.”

The NHS Oversight Framework which sets out how trusts and integrated care boards are best monitored – will be updated by the next financial year to ensure performance is properly scrutinised.

Deep dives into poorly performing trusts will be carried out by the government and NHS England to identify the most pressing issues and how they can be resolved.

Louise Ansari, Chief Executive of Healthwatch England: “People value the hard work of NHS staff, but it’s frustrating when services fail to operate effectively. So, a fresh approach to improving NHS performance is welcome.

“Currently, living in an area with either an outstanding or poorly performing NHS trust feels like a postcode lottery. When a service is underperforming, it often takes far too long for patients to see the necessary improvements.

“This is because the current system focuses on evaluating service performance based on the number of tasks it completes and it does not do enough to measure patients’ overall outcomes and experiences.

“Establishing a better system that encourages NHS managers to focus on delivering the best care as efficiently as possible, and leads to quicker changes at struggling trusts, would be good news for everyone.”

NHS senior managers who fail to make progress will also be ineligible for pay increases. There will be financial implications for Very Senior Managers (VSMs) such as Chief Executives if they are failing to improve their trust’s performance, or letting patients down with poor levels of care.  

A new pay framework for VSMs will be published before April 2025. Senior leaders who are successfully improving performance will be rewarded, to ensure the NHS continues to develop and attract the best talent to the top positions. 

The changes are made in response to Lord Darzi’s investigation into the NHS, which found that: “The only criteria by which trust chief executive pay is set is the turnover of the organisation. Neither the timeliness of access nor the quality of care are routinely factored into pay. This encourages organisations to grow their revenue rather than to improve operational performance.”

The cost to the health service of hiring temporary workers sits at a staggering £3 billion a year. Under joint plans to be put forward for consultation in the coming weeks, NHS trusts could be banned from using agencies to hire temporary entry level workers in band 2 and 3, such as healthcare assistants and domestic support workers. The consultation will also include a proposal to stop NHS staff resigning and then immediately offering their services back to the health service through a recruitment agency.

Rachel Power, Chief Executive, Patients Association: “We welcome today’s commitment to improving NHS performance and accountability. These reforms signal an important drive for positive change in our health system. The focus on tackling poor performance and rewarding excellence sends a clear message about raising standards across the NHS.

“At the same time, we know from the experience of patients, that real transformation comes through genuine partnership with patients. We look forward to working with NHS England to ensure patient voices help shape how any league tables are developed and how success is measured.

“The proposed support teams for struggling trusts could be particularly effective if they include patient representatives and focus on building a culture of patient partnership. This is an opportunity to combine better management with deeper patient involvement – creating an NHS that is both more efficient and more responsive to people’s needs.

“We hope trusts who receive greater funding freedom will use this money wisely – to cut waiting times, make the waiting experience better for patients, and strengthen the ways they work with patients to improve services. These are the things that matter most to people using the NHS.”

Lord Darzi’s investigation into the NHS found that hospital productivity has ‘nosedived’ in the past five years. During that time resources have increased by 20%, but the number of patients treated has only increased by 3%.

This comes a month after the Health and Social Care Secretary kicked off the biggest national conversation about the future of the NHS since its birth, calling on the entire country to share their experiences of our health service and help shape the government’s 10 Year Health Plan. 

Members of the public, as well as NHS staff and experts, are sharing their experiences, views and ideas for fixing the NHS via the Change NHS online platform, which will be live until the start of next year, and available via the NHS App.

UK ‘shows international leadership in tackling climate crisis’

UK government announces new climate goals at COP29, including reducing emissions by 81% by 2035, as Prime Minister calls on other countries to bring forward ambitious targets

  • New UK target to reduce emissions by 81% by 2035 at COP29 in Azerbaijan
  • targets support government’s clean energy superpower mission to give Britain more security, deliver jobs and economic growth
  • Prime Minister calls for others to come forward with ambitious targets

Tackling the climate crisis is essential to our national energy security, economic growth, and our efforts to protect current and future generations, the UK government said as it unveils the UK’s new climate goals at the COP29 Summit in Baku, Azerbaijan.  

Yesterday’s announcement will strengthen the UK’s position as a place for investment in the technologies and jobs that are driving growth across the world.   

There are 640,000 green jobs in the UK, growing at a rate 4 times faster than overall UK employment.

To support the industry the government has announced a significant investment programme in homegrown British energy – including renewables, carbon capture and storage, nuclear and hydrogen.  

The UK’s reliance on fossil fuels has also been felt by every family and business in the last few years with the worst cost of living crisis in memory, driven by energy price spikes from international gas markets. 

That’s why the government’s mission is to tackle the climate crisis in a way that makes the British people better off by investing in clean homegrown power and unlocking thousands of jobs, having already seen £34.8 billion of private investment into the UK’s clean energy industries since July.   

This ambitious and pragmatic new target supports the UK’s mission for growth, helping to attract further investment and jobs in low carbon technologies such as solar and wind, electric vehicles and batteries. 

Energy Secretary Ed Miliband said: “The only way to protect current generations is by making Britain a clean energy superpower, and the only way to protect future generations is by tackling the climate crisis.   

“Britain is back in the business of climate leadership, with an ambitious new target that will protect our environment, deliver energy security and restore our global climate reputation.  

“We will cut emissions across the country, delivering for our environment and ending our exposure to spiking fossil fuel markets.”

This ambitious and pragmatic new target – in line with the recommendation from the Climate Change Committee and previously legislated and legally-binding Carbon Budgets for the same period.

The target forms what is called the UK’s Nationally Determined Contribution (NDC): commitments that countries make to reduce their greenhouse gas emissions to mitigate climate change. It is aligned to 1.5C.

The UK has called for other countries to match the UK’s ambition to address the urgency of climate change, following stark warnings from the United Nations that the world is way off track to limit global temperature rises to 1.5C.

Since July the government has:   

  • lifted the ban on onshore wind in England
  • delivered a record number of clean energy projects through its renewables auction
  • consented unprecedented amounts of nationally significant solar – 2GW – more than the last 14 years combined
  • launched Great British Energy backed by £8.3 billion to speed up the deployment of clean technologies 
  • fired the starting gun on the UK’s carbon capture, usage and storage industry, with funding agreed for 2 clusters in Teesside and the North West

Globally, the costs of renewables continue to fall, with solar and wind now cheaper than existing coal and gas power plants in most of the world.  

Recent analysis from the International Energy Agency found that in 2023 for every $1 spent on fossil fuels, $1.7 was spent on clean energy. Global energy investment is set to be over $3 trillion in 2024, with $2 trillion of this on clean energy technologies and infrastructure.

Prime Minister Keir Starmer’s National Statement at COP29 in Baku, Azerbaijan yesterday:

The United Kingdom is determined to stand alongside those countries on the frontline of the climate crisis today…

And to seize the opportunities of tomorrow.

Because action on climate now is the route towards economic growth…

Energy security…

Better jobs….

And national security in the long term. 

To deliver on the Paris Agreement…

And keep 1.5 degrees within reach.

In the first 100 days of my government…

We launched Great British Energy – to create clean British power…

We created a National Wealth Fund – to invest in the green industries and jobs of the future…

We scrapped the ban on onshore wind…

Committed to no new North Sea oil and gas licences….

And closed the UK’s final coal power plant at the end of September – becoming the first G7 economy to phase out coal power.

In line with the international agreement at COP28 to transition from fossil fuels…

and the UK’s ambitious goal to be the first major economy to deliver clean power by 2030. 

Today I can confirm – three months ahead of deadline…

The UK’s 2035 international target –

Our nationally determined contribution –

to reduce all greenhouse gas emissions by at least 81% on 1990 levels….

Aligned with 1.5 degrees. 

And we urge all Parties –

To come forward with ambitious targets of their own…

As we all agreed at the last COP.

We will work in partnership…

to support other countries to develop their own commitments…

And transition through our forthcoming Global Clean Power Alliance – 

And finance will be its first focus. 

We will honour the commitment made by the previous government…

to provide £11.6 billion in of climate finance between April 2021 and March 2026….

But we must use public finance as a multiplier…

To unlock much more private investment…

And reform our international financial institutions. 

Today we launch the new CIF Capital Market Mechanism, listed on the London Stock Exchange…

With the potential to mobilise up to $75 billion…

in additional climate capital for developing countries over the next decade.

Putting the UK’s role as a global financial centre…

at the service of driving the green finance and green energy transitions.

Climate action is at the heart of this government’s mission for the protection and prosperity of Britain and the world. 

Writ large across our domestic and international priorities…

We are taking the urgent action needed – to protect our planet and its people.

Boost for UK clean energy growth as PM arrives at COP29

The UK will lead the world in the pro-growth clean energy transition, the Prime Minister has announced at the first day of the World Leaders Summit at COP 29

  • Prime Minister arrives at COP29 with major boost for industry to invest in clean supply chains 
  • British manufacturing win with blade factory in Hull set to benefit from £1bn offshore wind deal   
  • UK steps up clean energy investment to boost energy security, protect consumers, and create good jobs 
  • UK expected to announce new UK climate target to reduce emissions and show climate leadership during summit

The UK will lead the world in the pro-growth clean energy transition, the Prime Minister has announced at the first day of the World Leaders Summit at COP.   

At the COP29 Summit in Baku, Azerbaijan, the Prime Minister has announced another major step forward in the Government’s mission to make the UK a clean energy superpower.  

Offshore wind developers will be incentivised to invest in the UK’s historic industrial heartlands, coastal areas and oil and gas communities, boosting green jobs, and to support sustainable factories.  

Delivering on a Government manifesto commitment, the Clean Industry Bonus will come with a provisional £27 million per Gigawatt of offshore wind projects. That means if between 7 to 8GW of offshore wind apply, the budget could go up to £200m. 

The UK is wasting no time to accelerate the global transition to clean energy and putting the UK at the forefront of the industries of the future. The bonus will create the conditions for cleaner energy industries to thrive in the UK and elsewhere, while rewarding firms for investing in less polluting suppliers – tackling the climate crisis at home and abroad. 

It will help to crowd in private investment in hard-working communities across Scotland, Wales, the North East and North West, to build more sustainable offshore wind blades, cables and ports – reducing industrial emissions and helping support the rollout of clean, secure, cheap power for families.      

Thousands of highly skilled jobs such as engineers, electricians or welders across the supply chain – will create vibrant towns and cities fit for a clean energy future.    

Prime Minister Keir Starmer said:  “Our mission to make Britain a clean energy superpower will fire up our industrial heartlands and break down barriers to growth in our hard-working towns and cities.  

“It will strengthen our national security - protecting our children and grandchildren from the climate crisis, and impact this will have on their future prosperity.   

“By acting decisively and early, the UK has an opportunity to lead the world in the industries of the future — working in partnership with business — creating real energy security, cutting energy bills and building jobs and supply chains in the UK.   

“But we can’t move alone – and at COP I will lead efforts to protect Britain from climate change by also working with other countries to accelerate the global clean transition to tackle the causes at its root.”

The Government has committed to tackling the climate crisis and accelerating towards net zero to make the British people better off, primarily by investing in clean homegrown power to end national exposure to fossil fuel markets and the dictators who control them.   

Swift action has already been taken to cut emissions through the Government’s clean power by 2030 mission. Steps taken so far include:  

  • Lifting the ban on onshore wind in England. 
  • Delivering a record number of clean energy projects through its renewables auction. 
  • Consenting unprecedented amounts of nationally significant solar – 2GW – more than the last 14 years combined. 
  • Launching Great British Energy 
  • Firing the starting gun on the UK’s Carbon Capture and Storage industry, with funding agreed for two clusters in Teesside and Merseyside. 

In a further boost to British manufacturing ScottishPower has awarded a £1 billion turbine contract for its East Anglia TWO offshore windfarm to Siemens Gamesa, including blade production at its Hull blade factory.

This major contract will inject growth into the industrial heartlands with Siemens Gamesa employing over 1,300 people in Humberside, following extensive recruitment, whilst ScottishPower’s investment in East Anglia supports thousands more. Its East Anglia TWO wind farm alone will produce enough clean energy to power the equivalent of almost 1 million homes. 

This cash injection has shown funding is already flowing from last month’s commitment at the International Investment Summit where Iberdrola doubled their investment in the UK, through Scottish Power, from £12bn to £24bn over the next 4 years. 

This includes funding for the East Anglia TWO wind farm off the Suffolk coast – unlocked by this Government’s expanded allocation at the most recent renewables auction round. 

Keith Anderson, CEO of ScottishPower, said: “Today is tangible proof of the importance of Britain’s Clean Power Mission – our East Anglia projects are delivering UK jobs, UK supply chain contracts and UK green energy.    

“Getting more projects like East Anglia TWO off the blocks quicker will turbo-boost the UK’s supply chain, giving companies like Siemens Gamesa the confidence to invest in facilities like this blade factory in Hull. 

“Britain’s clean power targets are achievable but demanding.  We’ve doubled our investment and are ready to play our part with Government as it gets barriers out the way to build more projects like this, alongside the electricity networks needed to ferry green, homegrown power across the country.” 

Darren Davidson, UK and Ireland Vice President for Siemens Energy and Siemens Gamesa said: “The UK is the first leading industrial country to simultaneously phase out coal power and be a leader in offshore wind. 

“If we’re to achieve our net zero targets, it’s mission critical this momentum is maintained. As well as delivering the blades to power the UK’s energy transition, our factory in Hull is acting as a catalyst for economic growth and green jobs across the region.” 

At COP29 the UK will encourage other nations to follow its lead to deliver change – strong leadership at home to deliver action abroad.  

The Prime Minister is expected to use the visit to make the case for supporting the global transition. In his address to other countries he will argue the global economy depends on nature and a stable climate that is under threat.   

The 2022 UK heatwave saw record-breaking 40°C temperatures in England and caused 3000 excess deaths. These events are estimated to be 10x more likely due to climate change.

Climate finance at scale is critical to avoiding the worst consequences of climate change, but the UK is clear public finance alone cannot meet the growing needs of developing countries and innovation is essential to unlock billions in private finance.  

This is why the UK will also use the summit to announce the launch of the new CIF Capital Market Mechanism on the London Stock Exchange.

This world-leading, innovative new financial mechanism, has the potential to mobilise up to $75 billion in additional climate capital for developing countries over the next decade.

Its listing in London shows the confidence in our economy and showcases the city as a green finance capital, and the UK as an attractive place to invest in the future.  

It will help developing countries cut emissions, build renewable energy and adapt to a rapidly changing climate – all at no extra cost to the British taxpayers.   

The mechanism demonstrates the commitment of the UK to work with other like-minded countries and partners like the World Bank to mobilise the finance needed to drive the global clean energy transition.

This will also support the UK Government’s priorities for COP29 – to unveil the UK’s new emission reduction goals, secure an ambitious new global climate goal (NCQG) and the Global Clean Power Alliance by showing the potential to unlock billions more in climate finance for clean energy projects over the next decade.

Private warning as former Health Secretary appointed to ‘help government fix health and care’

Alarm Bells: Alan Milburn joins the Department of Health and Social Care’s board to ‘support the government’s ambitious plans for reform’

  • Alan Milburn has been appointed Lead Non-Executive Member to the board of the Department of Health and Social Care.
  • Mr Milburn ‘brings experience at the highest levels to help transform the health and care system‘
  • This (Labour) government is determined to work with experts who can provide the best advice to help rebuild an NHS fit for the future

Alan Milburn has been appointed Lead Non-Executive Member to the board of the Department of Health and Social Care.

The former New Labour Health Secretary has a ‘proven track record of reducing waiting lists and improving satisfaction in the NHS’.

Milburn is also a strong advocate of private healthcare involvement in the NHS. Back in 2015, Milburn intervened in the British election campaign to criticise Labour’s health plans, which would limit private sector involvement in the NHS. Milburn was criticised for doing so while having a personal financial interest in the private health sector.

The current Labour government says the NHS is broken and it is the mission of this government to fix it and make the health service fit for the future. As part of this national mission, experts are being brought in to help develop policy, and NHS staff and patients have been invited to share their experience and ideas to change the NHS at Change.NHS.gov.uk.

Members of the department board provide independent advice and expertise to inform the department’s strategy, performance and governance and the Lead Non-Executive Member provides additional support to the Secretary of State for Health and Social Care in his role as Chair of the board.

The Labour government says that, as a former Secretary of State, Alan brings experience at the highest levels of helping transform the health and care system – but health trade unions will be very wary of Milburn’s appointment.

Health and Social Care Secretary Wes Streeting said: “As Secretary of State, Alan made the reforms which helped deliver the shortest waiting times and highest patient satisfaction in the history of the NHS.

“This government has inherited a broken health service with some of the longest waiting times and lowest patient satisfaction in history. I am delighted to welcome Alan to the department board, where he will offer advice on turning the NHS around once again.

“His unique expertise and experience will be invaluable and he has an outstanding track record of delivering better care for patients.”

Lead Non-Executive Director Alan Milburn said: “I am delighted to be appointed to this role.

“Having spent three decades working in health policy, I have never seen the NHS in a worse state. Big reforms will be needed to make it fit for the future.

“I am confident this government has the right plans in place to transform the health service and the health of the nation. I’m looking forward to working with them to achieve that mission.”

Due to ‘the requirements of the role and the unique expertise and experience Alan Milburn brings’, he was appointed directly by the Secretary of State on following consultation with the Commissioner for Public Appointments, and in compliance with the Governance Code on Public Appointments.

The Department of Health and Social Care would like to thank Samantha Jones for all her work and support as non-executive director since February 2023.

TRANSFORMATION THROUGH PRIVATISATION?

Grangemouth’s just transition?

Workforce and community asked for views

Grangemouth’s industrial workforce and community are being asked to contribute their views on the future of the area.

A draft plan has been published as part of work to support a just transition to net zero and support the growth of the area towards a decarbonised economy.

The regional just transition plan is the first of its kind. It sets out the Scottish Government’s vision for the future of the Grangemouth industrial cluster and how the local community could benefit as a result.

By successfully decarbonising, Grangemouth can become a global leader in sustainable manufacturing and production, attracting investment and supporting both the existing and future workforce, and the community, long into the future. 

The Scottish Government has worked in partnership with the Grangemouth Future Industry Board to develop the Grangemouth Industrial Just Transition Plan which supports industrial decarbonisation, low-carbon manufacturing, net zero community wealth building and reskilling and developing the local workforce.

Proposed actions include:  

  • developing an industry-led technical and commercial investment strategy which includes a decarbonisation pathway to secure investment for scale up
  • creating a Grangemouth Industrial Skills offer to help tailor training needs for the existing and future workforce
  • improving the co-ordination of initiatives across the Forth Valley to ensure targeted interventions match needs
  • funding a recognised Community Engagement and Participation Manager as a first step in supporting the community to play a role in decision making 
  • establishing a Grangemouth Regulatory Hub to support a just transition and understand how regulation can unlock industrial decarbonisation

Acting Minister for Climate Action Alasdair Allan said: “Grangemouth has long played a vital role as Scotland’s leading industrial cluster and it is right that the area continues to help lead the way in our journey to net zero by 2045.

“Our first regional Just Transition plan published today sets out our approach to support the growth of a decarbonised economy that puts local communities at its heart. It makes clear our vision for the future and gives specific actions across a number of areas to help achieve a just transition for Grangemouth.

“The plan complements our ongoing activity focused around Grangemouth, including our support package in response to the proposed closure of the refinery and the work we are doing to explore low carbon transition opportunities for the refinery workforce.  

“We are working hard to secure a sustainable, long-term future for the wider industrial cluster and its skilled workforce, and this plan will be vital in helping us to deliver this.

“The consultation is an opportunity to help shape the development of the plan, and Grangemouth’s future. I encourage all who have a vested interest to participate.”

CVS Falkirk and District Chief Executive Officer, Victoria McRae said: “The voice of local communities must be heard in relation to the plans for a Just Transition for Grangemouth.

“As the Third Sector Interface for the local area, CVS Falkirk and District are pleased to be able to take forward, support and facilitate these important conversations. We look forward to hearing a range of views and we have opened a Hub in Grangemouth’s Town Centre to provide a base for this discussion and engagement.”

Syngenta Head of Corporate Affairs UK, Luke Gibbs said: “Syngenta is a large scale fine chemical manufacturer anchoring the Grangemouth Chemical Cluster. 

“We believe that the Grangemouth Just Transition Plan is an important part of achieving a sustainable future across the range of activities that together form the wider Grangemouth industrial area – fine chemicals, petrochemicals, pharmaceuticals, and biotechnology.

“As such, this consultation provides a key opportunity for companies in Grangemouth to input their views and highlight needs, and collectively achieve a sustainable, enabling, investable, and viable future for all.”

Join Unite on Thursday 28 November 2024 and help Save Scotland’s last oil refinery. 

Get your work colleagues, friends and family to come too. From the Workplace to the Capital, join the rally on Thursday 28 November 2024.

Assemble at 10:00 at Johnston Terrace (top end), Edinburgh, EH1 2PW and at 10.20 march to Holyrood for a rally with Sharon Graham, Unite general secretary. 

grangemouth-a5-new-leaflet-oct-24Download

Grangemouth Industrial Just Transition Plan – Supporting a fair transition for Scotland’s core manufacturing cluster – Draft for Consultation

Following the announcement of Petroineos’ decision to close refinery in September 2024, The Scottish and UK Governments announced a joint plan to secure industrial future of Grangemouth. 

First recipients of ‘Elizabeth Emblem’ announced to commemorate public servants who died in line of duty

Elizabeth Emblem recognises police officers, firefighters and other public servants who died in the line of duty

The first recipients of the Elizabeth Emblem have been announced today. The next of kin of over 30 former firefighters, police officers and other public servants who have died in public service will receive the award in recognition of their deceased loved ones. 

The Emblem was announced earlier this year to commemorate public servants who died in the line of duty. The Emblem is the civilian equivalent of the Elizabeth Cross, which recognises members of the UK Armed Forces who died in action or as a result of a terrorist attack.

Among the first recipients are Bryn Hughes and Paul Bone, whose daughters PC Fiona Bone and PC Nicola Hughes died in 2012 after attending a routine 999 call together following a report of criminal damage at a house in Greater Manchester. Upon arrival at the address PC Bone and PC Hughes were killed at the scene by an offender wanted for murder. 

Lissie Harper will also receive one of the first Emblems after her husband, PC Andrew Harper, died in 2019 responding to a call relating to the theft of a quad bike.

During the attempted arrest PC Harper was pulled behind the vehicle for several miles, and died of his injuries. 

The Prime Minister, Sir Keir Starmer said: “We must never forget those who have given their lives to protect others in the line of duty.

“While families will never be able to replace their loved ones, the Elizabeth Emblem pays tribute to the sacrifice they have made.”

Firefighter Leslie Marsh’s daughter will be awarded the Emblem 75 years after he died falling through a hole in the first floor of a derelict church when responding to a fire alongside a crew from Central Fire Station on the 7th February 1949.

The Chancellor of the Duchy of Lancaster, Pat McFadden said: “We owe a debt of gratitude to our exceptional public servants who have given their lives in service of our nation.

“The Elizabeth Emblem will honour their dedication and I am pleased to see the first recipients named today.”

Home Secretary, Yvette Cooper said: “We will forever remember the heroism of these police officers, firefighters and public servants, whose acts of selfless courage provide an example to us all.

“Like Her Majesty Queen Elizabeth II, they dedicated their lives to the service of their communities, and it is fitting that we thank them and honour them with the Emblem created in her name.

“This will be a sad but proud day for all the loved ones whom these heroes left behind, and we offer our gratitude to them too for the strength and dignity that they have shown, and the immense sacrifice that their families have made.

“We also thank all those who have campaigned for this Emblem over many years to ensure that the courage of those who keep us safe is recognised.”

Seven Scottish public servants are among the first recipients of the Elizabeth Emblem announced today – including firefighters, police officers and an NHS nurse. Scottish Secretary Ian Murray says it’s a fitting honour.

Among the first recipients is Sally Taylor, the widow of PC George Taylor, who was killed while on patrol on November 30, 1976. He was attacked by two men dressed in prison uniform who had escaped from The State Hospital at Carstairs in Lanarkshire. Also receiving the emblem is Archibald MacLellan, son of Neil MacLellan, a Nursing Officer on duty at the State Hospital that night. He was also killed, along with a patient, by the two men who escaped.

Also honoured is Firefighter William Crocket who will be awarded the Emblem over 60 years after he died in an explosion at the Cheapside Street Whisky Bond in Glasgow that claimed the lives of 19 people on 28 March 1960. Firefighter Crocket’s son William Cruickshank will receive the Emblem on behalf of his late father.

The Secretary of State for Scotland, Ian Murray said: “The Elizabeth Emblem is inscribed with the words  ‘For A Life Given In Service’ – and nothing could be more apt. We owe a huge debt of gratitude to the seven Scottish public servants who receive this new honour today.

“I want to personally thank the families of the police officers, firefighters and NHS nurses who are recognised today for their bravery and service. Your loved ones made the ultimate sacrifice to protect the wider community and for that we will be forever grateful.” 

The full list of recipients in Scotland is below:

  • Firefighter William Wallace Crocket, Glasgow Fire Brigade. Died 28 March 1960. 
  • Leading Firefighter Dudley Hamish Grant, Scottish Fire Service. Died 19 April 1965. 
  • Police Constable Edward Alexander Barnett, City of Glasgow Police. Died 4 January 1970. 
  • Neil MacLellan, National Health Service. Died 30 November 1976.
  • Police Constable George William Chree Taylor, Strathclyde Police. Died 30 November 1976.
  • Detective Sergeant William Ross Hunt, Strathclyde Police. Died 5 June 1983. 
  • Police Constable Lewis George Fulton, Strathclyde Police. Died 17 June 1994. 

To mark the announcement of the first recipients of the Elizabeth Emblem, the first batch of Emblems will be awarded by His Majesty The King later this year.

The design of the Emblem incorporates a rosemary wreath, a traditional symbol of remembrance, which surrounds the Tudor Crown.

It is inscribed with ‘For A Life Given In Service’, and will have the name of the person for whom it is in memoriam inscribed on the reverse of the Emblem. It will include a pin to allow the award to be worn on clothing by the next of kin of the deceased. 

Chair of the National Police Chiefs’ Council, Chief Constable Gavin Stephens said: “When a colleague dies in the line of duty shockwaves and sadness reverberate throughout policing.

“The families, friends and loved ones left behind bear the enduring pain of sacrifice in public service. We owe them a debt of gratitude as we remember their loved ones, always. We recognise their next of kin and pay tribute to them.”

Families and next of kin of those who have died in public service are encouraged to apply for an Elizabeth Emblem. 

Further information about the Elizabeth Emblem, including application guidance and eligibility criteria is available here.

University tuition fees in England will rise to £9535

Tuition fees to rise in line with inflation, ‘helping put universities on a secure footing alongside inflation-linked lift to maintenance loans’

The UK government has unveiled a significant package of measures to support students and stabilise the university sector.  

Students facing cost of living pressures will be supported with an inflation-linked increase to maintenance loans, alongside new steps to boost access for disadvantaged learners.    

The increase in cash-in-hand support of 3.1% will provide as much as £414 extra per year, to help students from the lowest income families.   

Higher education providers’ financial sustainability will also be bolstered, after seven years of no increases to domestic tuition fee caps – meaning fees have not kept pace with inflation.   

These changes will take effect at the start of the 2025 to 2026 academic year, with maximum fees rising by 3.1% to £9,535. After leaving study, student loan borrowers will not see their monthly student loan repayments increase as a result of these changes.   

If a borrower’s income is below the repayment threshold, they aren’t required to make any repayments. And after 40 years any outstanding loan debt, including interest accrued, will be written off.   

Education Secretary Bridget Phillipson said: “This government’s mission is to break down barriers to opportunity, which is why we are doing more to support students struggling with the cost of living despite the fiscal challenges our country faces.

“The situation we have inherited means this government must take the tough decisions needed to put universities on a firmer financial footing so they can deliver more opportunity for students and growth for our economy.

“Universities must deliver better value for money for students and taxpayers: that is why this investment must come with a major package of reforms so they can drive growth around the country and serve the communities they are rooted in.”

TUITION FEES – LABOUR LIES?

In exchange for this additional investment students are being asked to make, the government is calling on universities to significantly step up work to boost access for disadvantaged students and break down barriers to opportunity.   

Providers will be expected to play a stronger role in expanding access and improving outcomes for disadvantaged students, and the department for Education will announce a package of reforms in the coming months.  

Recent data shows that the gap between disadvantaged students and their peers in progression to university by age 19 is the highest on record, and the Education Secretary has called on universities to do more to address this.    

Graduates earn an average of £100,000 more over their lifetime than non-graduates, underlining the continued value of a university degree to employers and learners alike. But these statistics have shown that that too often background and personal circumstances are barriers to people getting on in life.   

The increase in fees will mean providers can start to address systemic problems, with 40% forecasted to be in budget deficits, and help ease pressure on their finances. It also means providers can continue to deliver high quality education that boosts the life chances of those who choose this path, as well as protecting their status as engines of economic growth.   

The move follows the Education Secretary’s immediate action this summer to refocus the Office for Students’ role, and ensure it more closely monitors financial sustainability to safeguard the future of higher education.    

The Education Secretary also announced yesterday that maximum tuition fees for classroom-based foundation years courses will be reduced to £5,760 from the start of the 2025 to 2026 academic year. This will ensure that courses are delivered more efficiently and at lower costs to students.

The announcement follows last week’s update to plans for the Lifelong Learning Entitlement (LLE), a transformation of the student finance system which will expand access to high-quality, flexible education and training for adults throughout their working lives.  

After careful consideration the LLE will now launch in academic year 2026 to 2027, to ensure it meets the government’s ambitions to fill skill gaps and kickstart economic growth.   

This will enable plans to be refined, help collaboration with Skills England to support the government’s industrial strategy, and give education providers the necessary time to prepare for this new system.

REACTION:

University tuition is currently free in Scotland.

Starmer unveils ‘game changing’ investment to tackle national security threat from people smuggling gangs

Prime Minister set to announce an additional £75 million to boost border security, bringing the investment in the Border Security Command over the next two years to £150 million

  • PM to outline major investments to smash criminal smuggling gangs at INTERPOL General Assembly in Glasgow
  • New capabilities for Border Security Command from £150 million funding pot to drive down Organised Immigration Crime both at home and overseas 
  • New additional funding will cover state-of-the-art tech and information centres, boosts to enforcement and intelligence resourcing and expanding CPS capacity

The Prime Minister is set to announce an additional £75 million to boost border security, bringing the investment in the Border Security Command over the next two years to £150 million. 

Marking the first time the INTERPOL General Assembly has been hosted in the UK in over 50 years, Keir Starmer will today (4 November) open the Assembly in Glasgow by setting out his personal mission to smash the people smuggling gangs by resetting the UK’s whole approach to this challenge and intensifying international collaboration to meet the global scale of the threat.

The General Assembly is INTERPOL’s supreme governing body and comprises senior ministerial and policing leads from the organisation’s 196 member states. 

In his speech, the Prime Minister will set out his plans to draw on his experience of bringing together agencies to tackle international terrorist and drug smuggling gangs during his time as Director of Public Prosecutions to dismantle the people smuggling gangs who drive illegal migration, profit from human misery and represent a serious threat to global security. 

He will also set out how the £150 million will provide additional specialist investigators and state of the art surveillance equipment to ensure those behind this criminal activity are stopped and brought to justice. 

This major funding boost for the government’s new Border Security Command will initially be directed towards a range of enforcement and intelligence activity, including:

  • Investing heavily in NCA technology and capabilities, delivering advanced data exploitation and improvements to technologies to boost collaboration with European partners to investigate and break people smuggling networks.
  • 300 staff for the new Border Security Command, who will strengthen global partnerships, deliver new legislation and lead the system through investment and strategy.
  • 100 specialist investigators and intelligence officers for the NCA, dedicated to tackling criminals who facilitate people smuggling. 
  • Creating a new specialist OIC Intelligence Source Unit which will cohere intelligence flows from key police forces. 
  • Boosting the Crown Prosecution Service’s ability to deliver charging decisions more quickly on international organised crime cases. 

The Border Security Command, led by Martin Hewitt CBE QPM, will be provided with enhanced powers – through a new Border Security, Asylum and Immigration Bill – to tackle organised immigration crime whilst providing for strong and effective border security. 

New measures will make it easier to detect, disrupt and deter those seeking to engage in and benefit from organised immigration crime. The Command will also coordinate the work of intelligence agencies and law enforcement, who lead joint investigations with European counterparts to ensure we can bring those responsible to justice.

Prime Minister Sir Keir Starmer will say: “The world needs to wake up to the severity of this challenge.  I was elected to deliver security for the British people. And strong borders are a part of that. But security doesn’t stop at our borders.  

“There’s nothing progressive about turning a blind eye as men, women and children die in the Channel.

“This is a vile trade that must be stamped out – wherever it thrives. So we’re taking our approach to counter-terrorism – which we know works, and applying it to the gangs, with our new Border Security Command. 

“We’re ending the fragmentation between policing, Border Force and our intelligence agencies.”

Home Secretary Yvette Cooper said: “Criminal smuggler gangs profit from undermining our border security and putting lives at risk and they have been getting away with it for far too long.

“Our new Border Security Command, with the investment set out today, will mean a huge step change in the way we target these criminal gangs.

“People smugglers and traffickers operate in networks across borders, that’s why we have launched a major boost to our cooperation with international partners including other European countries, the G7 and Europol, and why we are so pleased to be hosting the INTERPOL conference on tackling international crime in Glasgow today.”

The Prime Minister will also announce that the UK Government has increased its in-year support for INTERPOL’s global operations through a £6 million investment which harnesses the organisation’s unique capabilities to tackle serious organised crime affecting the UK. 

Addressing the General Assembly, the Prime Minister will say that closer cooperation with international partners is key as he details how the gangs’ operations span from the money markets in Kabul through to the Kurdish region of Iraq and right across Europe and into the UK. 

He will stress the government’s ongoing commitment to strengthening security agreements to facilitate greater sharing of intelligence and more joint operational work, in particular through Europol. 

The Home Office will also invest £24m in the new financial year to tackle international serious organised crime affecting the UK including drugs and firearms, fraud, trafficking and exploitation. Funds will in part be used to bolster work done by special prosecutors and operational partners in the Western Balkans.

There were more than 5,000 drug related deaths in 2023, with most of the illegal drugs causing these coming from overseas or facilitated by transnational gangs. ISOC funding will also be used to tackle drug smuggling upstream and at the UK border, building on recent successes, such as the effective collaboration with the US and Ecuador, which has resulted in the seizure of 19 tonnes of cocaine.

National Crime Agency Director General Graeme Biggar said: “Serious and organised crime causes more harm, to more people, more often than any other national security threat.

“And almost all of serious and organised crime now has an international nexus. Distance, borders and languages are meaningless to criminals. This is why collaborations with INTERPOL have never been as important as they are today.

“Tackling organised crime, and especially immigration crime, remains a top priority for the NCA. We are currently leading around 70 investigations into the gangs or individuals involved in the highest echelons of this type of criminality, and we are devoting more resources to it than ever before.

“We have built up our intelligence sharing effort with law enforcement partners across Europe and beyond, including having more NCA officers based overseas, sharing intelligence and working side by side on joint investigations.

“This approach is bringing operational results with arrests and prosecutions, but we are also we are seeking to disrupt the people smugglers’ business model, through targeting their social media offering, their supply routes for equipment, and their financial flows.

“We are determined to do all we can to disrupt and dismantle these networks, wherever they operate.”

The announcement comes a month after Britain joined up to a new G7 anti migrant smuggling action plan which included pledges to bolster border security, combat transnational organised crime, and protect vulnerable individuals from exploitation by smugglers. 

The plan includes new, intelligence-led joint investigative actions to target criminal smuggling routes, working with social media platforms and internet providers to remove harmful content promoting illegal migration services or advertising fake job opportunities, and strengthening capabilities to monitor and anticipate irregular migration flows at both global and regional levels.

What you need to know about the Autumn Budget 2024

On 30 October, Chancellor of the Exchequer Rachel Reeves delivered her first Budget in Parliament. Here are 5 things to know:

1. Major funding boost for the NHS

The government is investing £22.6 billion in the NHS over the next two years. This is the biggest increase in NHS spending since 2010 (excluding COVID-19 years) and will help patients to access 40,000 more elective appointments each week as well as upgrades for GP facilities, new surgical hubs, and more diagnostic scans.

2. Protecting working people’s living standards

The Chancellor confirmed that working people will see no changes to their payslips as there will be no increases to Income Tax, VAT, or employee National Insurance. From April 2025, the National Living Wage will rise to £12.21 per hour – that’s £1,400 more per year for full-time workers. Pensioners will benefit from a 4.1% increase in the State Pension, and the fuel duty freeze means continued support for motorists.

3. Investing in Britain’s future

Major infrastructure investment totalling over £100 billion will go towards rebuilding our crumbling schools and hospitals and fixing our roads, including over 1 million potholes. Funding will also support local transport and regional growth as well as boosting our digital infrastructure, so that everyone across the country can access high power broadband.

4. Supporting businesses and economic growth

We are protecting the businesses that make up our high streets by permanently reducing tax on properties used for retail, leisure and hospitality from 2026. In the meantime, the government is supporting these businesses with a 40% reduction in their business rates bill, capped at £110,000.

We are also freezing the small business multiplier for one year to protect over a million small properties from inflationary bill increases. Lastly, the Chancellor confirmed that she will maintain Corporation Tax at 25% for the duration of Parliament – the lowest rate in the G7.

5. Fair and responsible taxation

We are reforming the tax system, closing loopholes and improving HMRC efficiency. The money saved will go directly to funding public services and fixing the foundations of the economy. Finally, this Budget laid out how we will ensure economic stability through new fiscal rules (rules the government sets itself to manage its own decisions on spending and taxes). The new fiscal rules will make sure that the government only borrows for investment and that public sector debt falls over time.

Read the Budget in full to understand what it means for you.