Latest news with #GregClark
Sky News
23-06-2025
- Business
- Sky News
Sky News Business Podcast: Markets react to US strikes on Iran
Joining Darren McCaffrey are former secretary of state for Business, Energy and Industrial Strategy Greg Clark, and AJ Bell's Russ Mould.
The Guardian
23-06-2025
- Business
- The Guardian
Lower electricity prices for industry are crucial, but the government's plan lacks details
The colour palette for the front cover was the same, and whizzy light beams were again used to denote go-getting national ambition. But the big difference between Greg Clark's 2017 industrial strategy and Jonathan Reynolds's 'modern' version on Monday was supposed to be the latter's emphasis on reducing the sky-high cost of electricity for UK industry. Does it deliver? Well, it acknowledges the problem, which is a start. But then it's impossible to avoid the UK's woeful position on electricity prices. The statistics are aired alongside every de-industrialisation story from the Port Talbot steelworks to the Grangemouth oil refinery. The lobby group Make UK estimates costs for UK steelmakers of £66 per megawatt hour in 2024-25 compared with estimated German prices of £50 and French ones of £43. So a plan to 'slash industrial electricity prices' for 7,000 companies and 'move us from being an outlier to right in the middle of the pack,' as Reynolds put it, is definitely a step towards sanity. The detail, however, matters. For at least three reasons, this looks more like a sketch of a plan rather than a fully worked-up scheme. First, the new 'British industrial competitiveness scheme' won't arrive until 2027, which leaves an uncomfortably long period for more crises to occur. Shouldn't the government have made up its mind by now? The forerunner Invest 2035consultative document was issued last October, but the outcome on Monday was a further consultation on eligibility criteria for the headline measure. At least the separate and established 'British industry supercharger' scheme, aimed at the likes of the steel, chemicals and glass industries, will deliver bigger discounts next year – but that scheme covers only about 500 firms. Second, the tally of 7,000 firms in the new scheme is not enormous in the context of a broadly-defined UK manufacturing sector of 140,000 companies. The hospitality industry and others grumble about how painful electricity bills also bite on them, but most within manufacturing sector will also be outside the fold. Food and drink manufacturers, which are still a substantial part of the economy, are not a priority, for example. Third, the savings for eligible firms will be 'up to' 25%, raising the obvious question of how many will get the full whack. Net-zero levies, such as renewables obligations for wind and feed-in-tariffs for solar, will be removed from their bills, but those costs still have to be funded and the government has simultaneously promised that other bill payers will not pay more. So the money will come from 'bearing down on levies and other costs in the energy system' plus the proceeds from 'the strengthening of UK carbon pricing'. How much does that yield in practice? Most energy experts agree UK carbon prices should float upwards, yielding a gain for the Treasury as the the country aligns with the EU carbon market. But precision is impossible. As for reforms in the energy system, that's a reference to persuading windfarm developers to accept a lower headline price-guarantee for, say, a 20-year contract than they would for a standard 15-year one. The economic principle makes sense, but the length of the contract is not the only current consideration. Rising cost pressures on off-shore windfarms, as evidenced by Ørsted's decision to shelve a huge scheme of the coast of Yorkshire, cannot be wished away. None of which is to deny the basic logic of trying to remove renewable levies for key non-domestic users. We need those companies to survive the costs of energy transition and contribute to the running of the system in the future. Nor is to deny that other aspects of the wide-ranging industrial strategy generally got a cheer from business, especially on skills and startup funding. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion But electricity prices for industry were always going to be the focus. On that score, the dial is being turned, but it's simply not clear how far. The government doesn't have huge sums to throw at the problem. That is also familiar.
BBC News
18-06-2025
- Politics
- BBC News
Government ‘dragging its feet' over harassment act, says MP
Tunbridge Wells MP Mike Martin has accused the government of "dragging its feet" over the implementation of a law to criminalise public sexual passed the Protection from Sex Based Harassment in Public Act in 2023, which was introduced by the previous Conservative Tunbridge Wells MP Greg Clark following a campaign from his the law is yet to come into force because the government is required to pass a "statutory instrument". The previous Conservative government's plans to do this last year were interrupted by the general Wednesday, MPs rejected an amendment to the Crime and Policing Bill, proposed by Martin, which would have enforced the act. The act created a new specific offence for harassment in public on account of an individual's sex, including intrusive or persistent staring or questioning, following someone, sexual or obscene comments, propositions or gestures and non-consensual physical Liberal Democrat MP said he had met or received communication from the government five times over the last eight time they had "failed to say when the act will be implemented", he said: "This act is an extremely important building block in our campaign to reduce Violence Against Women and Girls in this Parliament – a goal I feel incredibly strongly about."I would have thought the Government – with its aim to halve Violence Against Women and Girls – would want to see this act enforced quickly."The Home Office has been approached for comment.
Scottish Sun
28-05-2025
- Automotive
- Scottish Sun
World's largest car maker hatching plans to invest £40 million in a new assembly line in UK
The move could mean new models entering the European market WHEELY MOVING World's largest car maker hatching plans to invest £40 million in a new assembly line in UK Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) THE WORLD'S largest car maker are planning to invest a whopping £40million for a new assembly line in the UK. The Toyota plant at Burnaston could be in line for a major investment, as the company weighs moving production for the US market from Japan to Derbyshire. Sign up for Scottish Sun newsletter Sign up 1 A new production line could be operational within 12 months Credit: PA:Press Association The car maker plans to invest around £41 million to set up a new production line dedicated to making GR Corollas, according to Reuters. Toyota has denied that Trump tariffs are behind the potential shift, despite taxes on Britain being 10 per cent compared to Japan's 25 per cent. In light of the potential move, Japanese automaker Toyota revealed that new cars could be added to the European market. Currently, the GR Corolla is only available in Japan and is exported to North America and select other markets. Burnaston plant currently produces the Corolla hatchback and estate for the UK and European markets, but production rates could significantly improve with the proposed investment. A new production line could be operational within 12 months, with reports suggesting that Japanese engineers may temporarily relocate to Derbyshire to assist with the transition. The first car built at Burnaston, in December 1992, was the Carina E. A rock-solid family motor specifically designed and engineered for Europe, hence the 'E'. It cost £12,145. In a world largely dominated by Sierras and Cavaliers, Carina E won many customer satisfaction awards for its advanced petrol engines, superior build quality, reliability and cheaper running costs. Much like Corolla today. Inside Toyota's UK production plant as it builds five MILLIONTH motor since first Carina E rolled off the line in 1992 Corolla is king at Burnaston now. One is born here every 142 seconds — almost 400 a day, 7,000 a month. Hatchback, estate and van. All with efficient self-charging petrol hybrids produced at Toyota's Deeside engine plant. All with Toyota's brilliant ten-year warranty. If you want a car that does everything it's meant to do really well, get a Corolla. It won't let you down. Burnaston also produced big numbers of the Avensis and Auris over the years, but switched back to Corolla in 2019. Park all five million British-built Toyotas end to end and they'd stretch from London to Tokyo and back. Toyota had invested an eye-watering £240million to upgrade the Burnaston plant in 2017. The car manufacturer had said the investment would boost competitiveness and promote the use of locally built components. At the time, Business and Energy Secretary Greg Clark said: 'Our automotive sector is one of the most productive in the world and Toyota's decision to invest £240 million upgrading its Burnaston plant is a further boost to the UK auto sector. I also welcome the prospect of investment to take Toyota New Global Architecture into the supply chain. 'Toyota is one of the world's largest car producers and this inward investment underlines the company's faith in its employees and will help ensure the plant is well positioned for future Toyota models to be made in the UK. 'As we prepare to leave the EU, this Government is committed through our Industrial Strategy to ensuring the UK remains one of the best places in the world to do business and we are able to help businesses seize on economic opportunities.'
The Irish Sun
28-05-2025
- Automotive
- The Irish Sun
World's largest car maker hatching plans to invest £40 million in a new assembly line in UK
THE WORLD'S largest car maker are planning to invest a whopping £40million for a new assembly line in the UK. The Toyota plant at 1 A new production line could be operational within 12 months Credit: PA:Press Association The car maker plans to invest around £41 million to set up a new production line dedicated to making GR Corollas, according to Reuters. Toyota has denied that Trump tariffs are behind the potential shift, despite taxes on Britain being 10 per cent compared to Japan's 25 per cent. In light of the potential move, Japanese automaker Toyota revealed that new cars could be added to the European market. Currently, the GR Corolla is only available in Japan and is exported to North America and select other markets. read more on motors Burnaston plant currently produces the Corolla hatchback and estate for the UK and European markets, but production rates could significantly improve with the proposed investment. A new production line could be operational within 12 months, with reports suggesting that Japanese engineers may temporarily relocate to Derbyshire to assist with the transition. A rock-solid family motor specifically designed and engineered for Europe, hence the 'E'. It cost £12,145. Most read in Motors In a world largely dominated by Sierras and Cavaliers, Carina E won many customer satisfaction awards for its advanced petrol engines, superior build quality, reliability and cheaper running costs. Much like Inside Toyota's UK production plant as it builds five MILLIONTH motor since first Carina E rolled off the line in 1992 Corolla is king at Burnaston now. One is born here every 142 seconds — almost 400 a day, 7,000 a month. Hatchback, estate and van. All with efficient self-charging petrol hybrids produced at All with Toyota's brilliant ten-year warranty. If you want a car that does everything it's meant to do really well, get a It won't let you down. Burnaston also produced big numbers of the Avensis and Auris over the years, but switched back to Corolla in 2019. Park all five million British-built Toyotas end to end and they'd stretch from London to Tokyo and back. Toyota had invested an eye-watering £240million to upgrade the Burnaston plant in 2017. The car manufacturer had said the investment would boost competitiveness and promote the use of locally built components. At the time, Business and Energy Secretary Greg Clark said: 'Our automotive sector is one of the most productive in the world and Toyota's decision to invest £240 million upgrading its Burnaston plant is a further boost to the UK auto sector. I also welcome the prospect of investment to take Toyota New Global Architecture into the supply chain. 'Toyota is one of the world's largest car producers and this inward investment underlines the company's faith in its employees and will help ensure the plant is well positioned for future Toyota models to be made in the UK. 'As we prepare to leave the EU, this Government is committed through our Industrial Strategy to ensuring the UK remains one of the best places in the world to do business and we are able to help businesses seize on economic opportunities.'
