Latest news with #NationalMinimumandLivingWage
Scotsman
09-07-2025
- Politics
- Scotsman
Midlothian affairs mean a busy first year in office for me
Midlothian MP Kirsty McNeill It's been a year since I became your MP, so given you are my boss it's time for an annual the most important objective I have is supporting you with problems, so I prioritised setting up an accessible office on Dalkeith High Street. Sign up to our daily newsletter – Regular news stories and round-ups from around Scotland direct to your inbox Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... We have a team running an 'always on' advice service ,so if you need help just email or call - you don't have to wait for a specific time of the month. We prioritise the most urgent cases first so if your question is not time sensitive, expect a wee delay. So far, we have handled over 4107 cases where folk have asked for our help or for information and have returned £17,207 to people's pockets through our casework. Advertisement Hide Ad Advertisement Hide Ad Before the election I promised that I'll always fight for your family as if it's my own. I've tried to live by that in big ways, like fighting for a record settlement for the Scottish Government at the budget which has meant Midlothian Council had £14 million extra to deliver local services. Prof Mark Parsons, Supercomputer Director from Edinburgh University's Advanced Computing Facility at Roslin But I've also tried to live by it in more tailored ways too, like setting up the local Disabled Children's Forum for parents and carers of disabled children to support each other and pressure me, as I know how exhausting and lonely it can be doing it all alone. Supporting family finances has always been a big priority, so I'm really pleased that there have been four interest rate cuts since Labour came to office, thanks to the stability we've returned to the economy. One in 20 Midlothian workers have had a pay rise thanks to increases to the National Minimum and Living Wage. And both the creation of GB Energy and the expansion of the Warm Home Discount show our commitment to bringing down bills for good. Family life, of course, doesn't take place in a vacuum and I know that one of the best things I can do for our communities is help our local economy grow. That's why I recently brought together a packed room of local business leaders for the first Midlothian Growth Summit. Advertisement Hide Ad Advertisement Hide Ad We heard from fantastic speakers from the Midlothian Chambers of Commerce, Scottish Tourism Alliance and the Scottish Hospitality Group among others but I think the one everyone was most interested to hear from was the Supercomputer Director from Edinburgh University's Advanced Computing Facility at Roslin. The UK Government has just announced £750 million in funding for the supercomputer so it was a lovely way to celebrate this huge news for Midlothian. Earlier in the year the UK Government announced £5 million for a study into the extension of the Borders Railway and support for 600 Midlothian homes and businesses to get broadband upgrades, so I'm pleased we have seen so much investment in Midlothian in just a year. Supporting local groups and charities is also really important to me, particularly our local miners' welfare and social clubs. I was pleased to bring clubs from all across Scotland together at Bilston Miners and we are working with clubs across England and Wales too on the Club Together campaign, generating proposals for government about how to help clubs thrive. Advertisement Hide Ad Advertisement Hide Ad I was really pleased so many local organisations came to the funding workshop I did with the People's Postcode Lottery too - please do sign up to Midlothian Matters and follow me on Facebook for more funding information and ways to get involved in local organisations. Two final bits of news you might have missed. Very early on this Labour government fixed the injustice of the Mineworkers' Pension Scheme, boosting the pensions of nearly 1000 ex-miners in Midlothian by 32 per cent. And thanks to our commitment to our armed forces we will see improvements to 179 Midlothian military homes. The people who powered this country and the people who defend this country will always have my heart. This is what I've prioritised in year one. Let me know what you'd like me to focus on in year two.
Western Telegraph
30-05-2025
- Business
- Western Telegraph
Millions of workers could see £6,000 boost to pension pots
Reforms in the Pension Schemes Bill propose that multi-employer defined contribution pension schemes and local government pension scheme pools operate at megafund level, managing at least £25 billion in assets within the next five years. The Government plans to double the number of UK pension megafunds by 2030. This could result in an investment of £50 billion in infrastructure projects, which the Treasury hopes will boost the economy and drive up higher returns for savers. Since taking office we've delivered pay rises for over 3 million workers by increasing the National Minimum and Living Wage, and secured trade deals with key international partners. Today I spoke to the unions about our ongoing commitment to working people. — Rachel Reeves (@RachelReevesMP) May 28, 2025 Chancellor Rachel Reeves said: 'We're making pensions work for Britain. These reforms mean better returns for workers and billions more invested in clean energy and high-growth businesses – the plan for change in action.' The Treasury said the schemes are expected to save £1 billion a year through economies of scale and improved investment strategies. Under the reforms, the local government pension scheme will be consolidated, reducing the current 86 administering authorities into six pools. Deputy Prime Minister Angela Rayner said: 'The untapped potential of the £392 billion local government pension scheme is enormous. Recommended reading: 'Through these reforms, we will make sure it drives growth and opportunities in communities across the country for years to come – delivering on our plan for change.' Sir Steve Webb, a former Liberal Democrat pensions minister who is now a partner at consultants LCP (Lane Clark & Peacock), described it as a 'truly a red letter day for pension schemes, their members and the companies who stand behind them'. He said: 'The Government has clearly been bold in this area and this opens up the potential for this surplus money to be used more productively to benefit scheme members, firms and the wider economy.'
Powys County Times
29-05-2025
- Business
- Powys County Times
Millions of workers could see £6,000 boost to pension pots
Millions of workers could see a £6,000 boost to their retirement pots. Reforms in the Pension Schemes Bill propose that multi-employer defined contribution pension schemes and local government pension scheme pools operate at megafund level, managing at least £25 billion in assets within the next five years. The Government plans to double the number of UK pension megafunds by 2030. This could result in an investment of £50 billion in infrastructure projects, which the Treasury hopes will boost the economy and drive up higher returns for savers. Since taking office we've delivered pay rises for over 3 million workers by increasing the National Minimum and Living Wage, and secured trade deals with key international partners. Today I spoke to the unions about our ongoing commitment to working people. — Rachel Reeves (@RachelReevesMP) May 28, 2025 Chancellor Rachel Reeves said: 'We're making pensions work for Britain. These reforms mean better returns for workers and billions more invested in clean energy and high-growth businesses – the plan for change in action.' The Treasury said the schemes are expected to save £1 billion a year through economies of scale and improved investment strategies. Under the reforms, the local government pension scheme will be consolidated, reducing the current 86 administering authorities into six pools. Deputy Prime Minister Angela Rayner said: 'The untapped potential of the £392 billion local government pension scheme is enormous. Recommended reading: 'Through these reforms, we will make sure it drives growth and opportunities in communities across the country for years to come – delivering on our plan for change.' Sir Steve Webb, a former Liberal Democrat pensions minister who is now a partner at consultants LCP (Lane Clark & Peacock), described it as a 'truly a red letter day for pension schemes, their members and the companies who stand behind them'. He said: 'The Government has clearly been bold in this area and this opens up the potential for this surplus money to be used more productively to benefit scheme members, firms and the wider economy.'
Glasgow Times
29-05-2025
- Business
- Glasgow Times
Millions of workers could see £6,000 boost to pension pots
Reforms in the Pension Schemes Bill propose that multi-employer defined contribution pension schemes and local government pension scheme pools operate at megafund level, managing at least £25 billion in assets within the next five years. The Government plans to double the number of UK pension megafunds by 2030. This could result in an investment of £50 billion in infrastructure projects, which the Treasury hopes will boost the economy and drive up higher returns for savers. Since taking office we've delivered pay rises for over 3 million workers by increasing the National Minimum and Living Wage, and secured trade deals with key international partners. Today I spoke to the unions about our ongoing commitment to working people. — Rachel Reeves (@RachelReevesMP) May 28, 2025 Chancellor Rachel Reeves said: 'We're making pensions work for Britain. These reforms mean better returns for workers and billions more invested in clean energy and high-growth businesses – the plan for change in action.' The Treasury said the schemes are expected to save £1 billion a year through economies of scale and improved investment strategies. Under the reforms, the local government pension scheme will be consolidated, reducing the current 86 administering authorities into six pools. Deputy Prime Minister Angela Rayner said: 'The untapped potential of the £392 billion local government pension scheme is enormous. Recommended reading: 'Through these reforms, we will make sure it drives growth and opportunities in communities across the country for years to come – delivering on our plan for change.' Sir Steve Webb, a former Liberal Democrat pensions minister who is now a partner at consultants LCP (Lane Clark & Peacock), described it as a 'truly a red letter day for pension schemes, their members and the companies who stand behind them'. He said: 'The Government has clearly been bold in this area and this opens up the potential for this surplus money to be used more productively to benefit scheme members, firms and the wider economy.'
Rhyl Journal
29-05-2025
- Business
- Rhyl Journal
Millions of workers could see £6,000 boost to pension pots
Reforms in the Pension Schemes Bill propose that multi-employer defined contribution pension schemes and local government pension scheme pools operate at megafund level, managing at least £25 billion in assets within the next five years. The Government plans to double the number of UK pension megafunds by 2030. This could result in an investment of £50 billion in infrastructure projects, which the Treasury hopes will boost the economy and drive up higher returns for savers. Since taking office we've delivered pay rises for over 3 million workers by increasing the National Minimum and Living Wage, and secured trade deals with key international partners. Today I spoke to the unions about our ongoing commitment to working people. — Rachel Reeves (@RachelReevesMP) May 28, 2025 Chancellor Rachel Reeves said: 'We're making pensions work for Britain. These reforms mean better returns for workers and billions more invested in clean energy and high-growth businesses – the plan for change in action.' The Treasury said the schemes are expected to save £1 billion a year through economies of scale and improved investment strategies. Under the reforms, the local government pension scheme will be consolidated, reducing the current 86 administering authorities into six pools. Deputy Prime Minister Angela Rayner said: 'The untapped potential of the £392 billion local government pension scheme is enormous. Recommended reading: 'Through these reforms, we will make sure it drives growth and opportunities in communities across the country for years to come – delivering on our plan for change.' Sir Steve Webb, a former Liberal Democrat pensions minister who is now a partner at consultants LCP (Lane Clark & Peacock), described it as a 'truly a red letter day for pension schemes, their members and the companies who stand behind them'. He said: 'The Government has clearly been bold in this area and this opens up the potential for this surplus money to be used more productively to benefit scheme members, firms and the wider economy.'
