Business Secretary meeting Lotus after reports of plans to scrap UK carmaking
After reports that Chinese owner Geely was planning to stop manufacturing at the Hethel plant in Norfolk, putting 1,300 jobs at risk, Lotus issued a statement saying it had 'no plans' to close the factory.
Jonathan Reynolds will speak to the company on Sunday, the PA news agency understands.
The British sportscar brand has been majority-owned by Chinese multinational Geely since 2017.
The Financial Times had reported it was considering shutting up shop in the UK and in favour of a new plant in the US.
On Saturday, Lotus sought to assuage concerns with a statement that it remains 'committed' to the UK, which it called its largest commercial market in Europe and the 'heart' of the brand.
'Lotus Cars is continuing normal operations, and there are no plans to close the factory,' it said.
'We are actively exploring strategic options to enhance efficiency and ensure global competitiveness in the evolving market.
'We have invested significantly in R&D and operations in the UK, over the past six years. Lotus remains committed to the UK, and its customers, employees, dealers, suppliers, as well as its proud British heritage.'
A Government spokesperson said: 'The Government does not comment on speculation or the commercial affairs of private companies.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Glasgow Times
34 minutes ago
- Glasgow Times
Industrial firms to face £685m property tax hit after energy support pledge
Just a week after the Government's industrial strategy revealed electricity costs for about 7,000 energy-intensive businesses would be cut by scrapping green levies, estimates suggest many of the larger firms are set to see their business rates bill soar. Around 4,300 large-scale industrial properties in England – across manufacturing sectors such as automotive, aerospace and chemicals – will face a new business rates levy costing them around £685 million a year, according to tax and software firm Ryan. The levy, which comes into effect in April, is part of next year's business rates revaluation and is being used to fund tax breaks for high street retail, leisure and hospitality sectors, Ryan said. Alex Probyn, a practice leader of property tax at Ryan, said that while the industrial strategy move to reduce energy bills was welcome, 'it's perverse to then ask those very same businesses to foot the bill for high street tax cuts through higher business rates from 2026, a year before the energy support will come into effect'. He added: 'If the goal is to boost UK competitiveness, we need a coherent strategy that tackles the total burden of fixed costs — not one that gives with one hand and then takes with the other.' It follows Sir Keir Starmer's 10-year industrial strategy, which includes a measure to cut bills by up to 25% to help firms compete with foreign rivals. Under the new plans, a new British Industrial Competitiveness Scheme from 2027 will cut costs by up to £40 per megawatt hour for over 7,000 manufacturing firms by exempting them from levies on bills including the renewables obligation, feed-in tariffs and the capacity market. Around 500 of the most energy-intensive firms, including the steel industry, chemicals and glass-making, will also see their network charges cut. They currently get a 60% discount through the British Industry Supercharger scheme, which will increase to 90% from 2026. But Ryan is calling for more coherence in strategy from the Government, cautioning that any benefit from lower energy bills risks being undermined by increased property taxation. UK firms already face the highest property taxes in the developed world and more than double the European Union average, according to the firm. Mr Probyn said: 'We're seeing two opposing policies rolled out simultaneously. One aims to support industry by reducing energy costs. 'The other increases a key fixed operational cost — property tax — on the very same businesses to subsidise other sectors. 'There is no coherent strategy; it's a contradiction.' A government spokesperson said: 'We are making it easier and quicker for businesses to invest and grow by cutting British industrial electricity costs with unprecedented new support which will cut electricity costs by around 20-25% for thousands of businesses. 'Our reform to the business rates system will also create a fairer business rates system that protects the high street, supports investment and levels the playing field. 'A new, permanently lower business rates in 2026 will benefit over 280,000 retail, hospitality and leisure business properties and will be sustainably funded by a new, higher rate on the 1% of most valuable business properties.'
The Guardian
an hour ago
- The Guardian
1 July changes: minimum wage, Centrelink payments, parental leave, road fines and everything else coming for the 2025-26 financial year
A wage increase for low-paid workers, changes to superannuation and significant reforms to the pension are part of sweeping changes being made on 1 July. The end of the financial year is typically when state and federal governments change a range of legislation, implementing new policies. This year there is a lot happening so let's take a look at the big-ticket items. Good news for those on the bottom income line, the minimum wage will increase by 3.5%, to $948 per week or $24.95 per hour, based on a 38-hour work week. The changes are expected to impact 2.6 million and will apply from the first full pay after July 1. The minimum amount of superannuation employers must contribute is also set to rise from 11.5% to 12%. This will be the final increase in a five-year series of rises to the amount employers have to pay and will mean a 30-year-old earning $100,000 will have an additional $125,000 when they retire. In addition to cutting 20% off student loan debts for 3 million Australians, the government will also increase the amount that people can earn before they are required to start paying back their loans to $67,000, subject to the passage of legislation. The national disability insurance scheme will introduce a number of changes from 1 July as part of its annual pricing review. The changes will mean that the maximum rates providers can charge some NDIS participants will be lowered after the review found some limits were 'inflated' or 'out of step with broader market rates'. For example, physiotherapy sessions have been reduced by $10 to $183.99 per hour. Maximum rates will also be made nationally consistent meaning some providers in jurisdictions will be increased – prices for psychology sessions have been standardised at $223.99 across all states and territories. Other changes will include removing an establishment fee providers once charged participants for setting up their services. Sector advocacy groups have criticised the changes, warning they will result in fewer services being available for participants in regional and rural areas. In brighter news, disability support workers will get a 3.95% pay boost from July. The pension rate is not going up but increased income and asset thresholds mean thousands more will be entitled to benefits and bigger payments. From 1 July the thresholds will be adjusted to better keep up with inflation, with every couple who are asset-tested getting a $34.50 fortnight increase, with singles getting $22.50. The asset cut-off point when the pension starts to be reduced has also been decreased from $481,500 for couples and $321,500 for singles to $470,000 per couple and $314,000 for singles. Around 2.4 million Centrelink recipients will also see a small increase to their payments, as the regular indexation is applied to their income. This means that payments and thresholds will increase by 2.4%. While any increase to the bottom line will be welcomed by those on the payments, advocates routinely say the high cost of living, including soaring rent, far outpaces the extra money. There is good news for parents and carers born in the new financial year with the number of paid parental leave (PPL) paydays lifting from 110 to 120, or 24 weeks. Parents will be able to claim the leave up to three months before their child 'enters their care'. This is a series of increases to the scheme which will see it progressively expand until it hits 26 weeks by 2026. AI-powered surveillance cameras, that will be able to detect when drivers are holding or using their mobile phones, will now be used across the country. There are also state-based changes. In NSW, for example, there will be harsher penalties if someone is found not wearing a seatbelt, as fines rise in line with the CPI increase of 3.2%. The state will start trialling average speed cameras for cars and motorcycles in two locations. In Queensland, speed limits will be reduced in selected areas and traffic fines will increase by 3.5%. Drivers in Victoria will now have to slow to 40kmh when passing roadside assistance vehicles, tow trucks or emergency response vehicles that are flashing their lights. In South Australia, this will be lowered to 25kmh on some roads. Drivers in Western Australia will now face fines up to $700 for mobile phone use and over $1,600 for excessive speeding. Households that are looking to install battery systems will be in a better position as the cheaper home batteries program offering a 30% discount on the purchase and installation kicks in. Paid practical placements will start for some tertiary students studying teaching, nursing, midwifery, and social work. Eligible students will be able to access $319.50 per week while they're undertaking a placement. Affordable access to life-changing treatment for cystic fibrosis will be expanded to more Australians with a change to the Pharmaceutical Benefits Scheme. People living with rarer types of cystic fibrosis will pay a fraction of the price to access life-changing treatment under an expansion of the scheme. People will now pay a maximum of $31.60 per script, or $7.70 if they hold a concession card.
Powys County Times
an hour ago
- Powys County Times
Welfare concessions to be set out ahead of crunch vote
The Government is to set out the concessions it has made to its welfare reforms in the hope that the climbdown on cuts will be enough to shore up support in a crunch vote. Work and Pensions Secretary Liz Kendall said the Bill aims to deliver a 'fairer, more compassionate system' ahead of the legislation's second reading on Tuesday. The Government will amend the Bill at the Commons committee stage to put the changes in place. The original plans restricted eligibility for the personal independence payment (Pip) and cut the health-related element of universal credit. The changes to Pip will now only apply to new claims from November 2026. Plans to cut the health-related element of universal credit have also been rowed back, with all existing recipients to have their incomes protected in real terms. Details of a review of the Pip assessment, to be led by disabilities minister Sir Stephen Timms and 'co-produced' with disabled people, will also be published. Draft regulations for the 'right to try', to enshrine in law the right for people receiving health and disability benefits to try work without fear of reassessment, will also be laid in Parliament. The Work and Pensions Secretary said: 'We must build a welfare system that provides security for those who cannot work and the right support for those who can. Too often, disabled people feel trapped, worried that if they try to work, they could lose the support they depend on. 'That is why we are taking action to remove those barriers, support disabled people to live with dignity and independence, and open routes into employment for those who want to pursue it. 'This is about delivering a fairer, more compassionate system as part of our Plan for Change which supports people to thrive, whatever their circumstances.' Some £300 million in employment support will also be brought forward over the next three years. Those with severe conditions who are unlikely to recover – about 200,000 people – will not be called for a reassessment of universal credit. From next year to 2030, all those who already receive the health element of universal credit and new claimants with severe conditions and 12 months or less to live will see an annual rise to their combined standard and limited capacity for work allowance at least in line with inflation. Ms Kendall had confirmed concessions to the plans after 126 Labour backbenchers signed an amendment that would have halted the Universal Credit and Personal Independence Payment Bill at its first Commons hurdle. That is now expected to be withdrawn after the move appeased some rebellious MPs, but others are considering backing a similar amendment to be tabled on Monday. Health Secretary Wes Streeting told Sky News the changes 'have put us in a much better position' and give 'peace of mind' to those receiving Pip, but he did not rule out further concessions. Labour MP Rachael Maskell said she would sign the new amendment aiming to stop the Bill, saying it was not clear how the promised concessions would be brought in. 'There's no confidence… we're being asked to sign a blank check even with these changes,' she told the PA news agency. Vicky Foxcroft, who quit as a Labour whip over the reforms, told The Guardian there were 'areas where I still think there's need for movement' and that she had not decided how to vote. Olivia Blake, a Labour MP with a disclosed disability, told the paper the changes could create 'an unethical two-tier system that treats two people with the exact same injury or illness differently'. The Liberal Democrats plan to vote against and have called for the Government to speed up access-to-work decisions to help people enter the workforce. Deputy leader Daisy Cooper said: 'Liberal Democrats simply cannot support any measures that make things harder for unpaid carers, disabled people who rely on support with daily tasks in order to stay employed, and those whose disabilities mean that they will never be able to work. Conservative leader Kemi Badenoch has called the concessions 'the worst of all worlds'.
