Press Statement Report: Thousands of smaller businesses in England are set to benefit from £20 million of new government funding to help them recover from the effects of the coronavirus pandemic, the Minister fo r Regional Growth and Local Government has today (30 July 2020) announced #AceFinanceDesk report

#AceFinanceReport – July.30: and medium sized businesses will have access to grants of between £1,000 – £5,000 to help them access new technology and other equipment as well as professional, legal, financial or other advice to help them get back on track: It comes on top of an unprecedented package of Government support to help businesses to recover, including the £2 billion Kickstart Scheme which will create hundreds of thousands of new, fully subsidised jobs for young people across the country, as well as £1.6 billion invested in scaling up employment support schemes, training and apprenticeships to help people looking for a job:

£20 million in new grants to boost recovery of small businesses

£20 million new funding to help smaller businesses recover from the effects of the coronavirus pandemic.

Ministry of Housing, Communities & Local Government

Minister for Regional Growth and Local Government, Simon Clarke MP said:

We have always said that we would stand behind our businesses and communities as we rebuild following the coronavirus pandemic. This new funding does exactly that.

Businesses will be able to use these new grants to pay for the expertise, equipment and technology they need to adapt, recover and rebuild.

Small and medium sized businesses are the beating heart of communities; they provide employment and contribute significantly to local economies and we are determined to give them the support they need to continue to thrive.

Today’s announcement builds on a £10 million package announced by the Minister earlier this month to help to kickstart the tourism industry and support the visitor economy: The support will be fully funded by the government from the England European Regional Development Fund and distributed through Growth Hubs, embedded in local areas across England.

Further information

  • The support will be fully funded by the Government with no obligation for businesses to contribute financially.
  • The funding being provided to businesses is supported by the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Ministry of Housing, Communities and Local Government is the Managing Authority for the European Regional Development Fund in England. For more information visit (https://www.gov.uk/guidance/england-2014-to-2020-european-structural-and-investment-funds)
  • The funding has been allocated to Growth Hubs within each LEP area in line with the current ERDF Programme.

View Growth Hub funding: allocations for each LEP area (PDF, 202KB, 4 pages)

  • To establish a viable grant programme, we have set a minimum of £250,000 for all LEP areas. The allocation of resources will be reviewed as the grant fund is delivered.
  • Growth Hubs work across the country with local and national, public and private sector partners – such as Chambers of Commerce, FSB, universities, Enterprise Zones and banks, co-ordinating local business support and connecting businesses to the right help for their needs. They are locally driven, locally owned and at the heart of the government’s plan to ensure business support is simpler, more joined up and easier to access.
  • Activities supported through the £20 million can include:
    • One-to-many events providing guidance to respond to coronavirus,
    • Grants (£1,000 – £5,000) to help businesses access specialist professional advice such as HR, accountants, legal, financial, IT and digital, and to purchase minor equipment to adapt or adopt new technology in order to continue to deliver business activity or diversify.

      #AceFinanceDesk report ………….Published: July.30: 2020:

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Free Trade Negotiations Report: Government announce they are one-step closer to a wide-ranging-free-trade-agreement with New Zealand that can provide better jobs, higher wages and more affordable prices and both sides highlighted that it was essential post-Covid-19 for economic recovery #AceFinanceDesk report

We are now one step closer to an ambitious, wide-ranging free trade agreement with one of our oldest friends. An FTA with New Zealand can bring investment, better jobs, higher wages and more affordable prices just when we need them the most: Both teams of negotiators recognised the unprecedented circumstances we find ourselves in and reiterated that more global trade is essential to support post-Covid economic recovery: Negotiations were conducted virtually and covered a comprehensive set of discussions across areas of a trade agreement:

The discussions covered:

  • Anti-Corruption
  • Clean Growth
  • Competition
  • Cross-cutting general provisions
  • Customs
  • Digital trade
  • Domestic Regional Economic Development
  • Environment
  • Financial Services
  • Trade in Goods and Trade Remedies
  • Good Regulatory Practice
  • Indigenous Trade
  • Intellectual Property
  • Investment
  • Labour
  • Procurement
  • Rules of Origin
  • Services, including Mobility
  • Small and Medium-sized Enterprises
  • State Owned Enterprises
  • Sanitary and Phytosanitary Measures
  • State to State Dispute Settlement
  • Technical Barriers to Trade
  • Telecommunications
  • Trade and Development
  • Trade and Women’s Economic Empowerment
  • Transparency

Discussions between negotiators were productive and reflected our shared ambition to secure a comprehensive deal to boost trade and investment between our like-minded economies: Teams discussed their respective objectives and agreed a forward plan for future talks. Our positive discussions in round one have laid the groundwork for the UK and New Zealand to achieve high-quality outcomes across the agreement.

The UK and New Zealand are aligned in many areas which will enable us to make quick progress across many chapters: In discussions, both countries emphasised a desire to be particularly ambitious in areas including enhancing digital trade, boosting cross-border trade in services and investment, reducing uncertainty and burdens on exporters from customs procedures, and promoting good regulatory practices. Discussions also provided an opportunity for both teams to consider how we can work together across the agreement to support important agendas such as women’s economic empowerment, trade and development, indigenous trade, clean growth and climate action, and ensuring Small and Medium sized Enterprises can benefit from the FTA.

The Government is committed to negotiating a comprehensive agreement with New Zealand and we look forward to making further progress: The Government will make its next statement on progress following the second round of talks, which is currently planned to take place in October. We will explore the option of face-to-face negotiations when it is safe to do so.

#AceFinanceDesk report ………….Published: July.29: 2020:

Editor says #AceNewsDesk reports by https://t.me/acenewsdaily and all our posts, also links can be found at here for Twitter and Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

Press Release Transition Report: From today (29 July 2020), customs intermediaries can apply for £50 mi llion of new funding, first announced in June 2020, to increase their capacity to make declarations ahead of 2021 #AceFinanceDesk report

HM Revenue and Customs (HMRC), which is running the scheme, is encouraging customs intermediaries and traders who make their own declarations to take advantage of the funding now: After the transition period ends, intermediaries, such as brokers, freight forwarders and express parcel operators, will play a critical role for businesses, and the government wants to create conditions for a diverse market:

Applications open for £50 million funding to boost UK customs intermediaries

HMRC is encouraging customs intermediaries and traders who make their own declarations to take advantage of the funding now.

HM Revenue & Customs

HMRC had already made up to £34 million available to bolster the intermediary sector, which was used very quickly: In total, the government has now made available £84 million to grow the customs intermediary sector to encompass EU trade after 2020. At the moment, agents cover non-EU trade though many, like parcel companies, do operate in the EU market: As well as injecting £50 million to support businesses with recruitment, training and supplying IT equipment to handle customs declarations, the government also intends to change rules which will remove the financial liability from intermediaries operating on behalf of their clients, plus allow parcel operators to continue declaring multiple consignments in a single customs declaration.

Chancellor of the Duchy of Lancaster, Michael Gove, said:

After the UK transition period with the EU ends on December 31, intermediaries will play a vital role in helping UK businesses trade and seize new opportunities around the world. This funding and support will increase capacity as we get ready for the UK’s new start next year.

Applying for this funding is simple and I urge the intermediary sector and businesses to take advantage of the help on offer now.

Liam Smyth, Director of Chamber Customs at the British Chambers of Commerce, commented:

The Customs Intermediary Grant Scheme has been a real enabler for businesses. It’s enabled firms to hire more people, to upskill their employees and to drive efficiency through upgraded IT.

We have helped almost 2,000 businesses across the UK to upskill their staff through our training courses and we have benefitted directly by taking on more people and equipping them to be ready for the end of the Transition period.

Firms need many more customs agents to be ready, this fund can help to make that happen.

HMRC will continue to monitor the preparation of the customs intermediary sector closely:

For full details of criteria and how to apply please read the guidance on GOV.UK.

Further information

The customs grant scheme was launched in November 2018 to support the intermediary market to expand: To date, HMRC has made a total investment of £34 million available to support the sector, which has supported more than 20,000 training courses, nearly 15,000 units of IT and the recruitment of over 600 new customs agents.

The grant scheme is being run by HMRC and administered by PricewaterhouseCoopers (PwC) on its behalf.

#AceFinanceDesk report ………….Published: July.29: 2020:

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Economic Insight: The UK’s economy has begun to recover as lockdown measures are eased but the quest ion still remains on ‘ How Much Long-Term Damage ‘ has been done or wether the people will r eturn to spending on the ‘ High Street ‘ or many will continue online as they have fo r the last three months #AceFinanceDesk report

It’s still not clear how fast this recovery will be, and how much long-term damage has been done: This Insight looks at the latest data for signs of increased economic activity alongside falling wages and Government plans for future public spending:

Economic update: Is the UK beginning to bounce back?

Published Tuesday, July 28, 2020:

Economic activity is rising

According to Office for National Statistics (ONS) monthly estimates, GDP rose by 1.8% in May, following unprecedented falls in previous months. While there is some way to go to make up the losses (figures for March to May combined are still 19.1% lower than the previous quarter), it does seem likely that we are now climbing out of the recession.

A chart showing that GDP has been mostly flat until March 2020, when it fell significantly and has since started to increase.

There were also signs of recovery in retail sales figures, which rebounded in June to reach levels similar to before the lockdown. However, this recovery has not been evenly shared across the sector: sales in non-food stores are still well below their pre-pandemic levels.

Activity in both the manufacturing and services sectors appeared to be strengthening too. The Purchasing Manager’s Index measures for both are increasing from their previous lows.

Falling wages and higher unemployment

The unemployment figures for March to May this year have yet to show any significant changes, although this will be at least partly due to the Coronavirus Job Retention Scheme for furloughed workers.

However, we can see the pandemic’s effect on wages. Earnings fell by 0.3% in March to May 2020 compared to the previous year. They were rising by around 3% per year before the pandemic. This is likely due to many employees receiving lower wages while furloughed. As the chart below shows, low-paid industries (which have a high proportion of furloughed employees) have seen large decreases in average earnings.

A chart showing that average earnings in the lowest-paid industries are now below where they were a year ago, unlike most other industries.

The Job Retention Scheme is set to end on 31 October. As we mentioned in Coronavirus: Impact on the labour market, this scheme is very likely preventing large numbers of job losses for now. But the large increase in people claiming unemployment benefits, and decreases in paid employees and vacancies, means that higher unemployment and more redundancies are on the way.

High borrowing and (possibly) lower future spending

The high costs of the measures the Government has taken to slow the pandemic have caused a large increase in public sector borrowing. As shown in the chart below, from June 2019 to June 2020, the Government borrowed nearly £160 billion. This is more than it had borrowed in the previous three years put together.

According to the Office for Budget Responsibility (OBR), the government’s borrowing (or deficit) could be as high as £370 billion this year (around 19% of GDP). This is the OBR’s ‘central scenario’ – if the economy rebounds faster or slower the deficit could be anywhere between 15% and 23% of GDP.

A chart showing that public sector borrowing in the last 12 months is higher than in the previous three years put together.

This shift in the public finances has also led to changes in the Chancellor’s approach to the Comprehensive Spending Review. This was re-launched on 21 July having been postponed due to the pandemic. The review will set budgets for government departments for the next three years. These budgets are likely to be less generous than had originally been planned.

The Government said that departments have been asked to “identify opportunities to reprioritise and deliver savings.” It added: “in the interest of fairness we must exercise restraint in future public sector pay awards.” MPs, interest groups and members of the public are now able to submit policy ideas as part of the review.

About the author: Philip Brien is a researcher at the House of Commons Library, specialising in public spending.

#AceFinanceDesk report ………..Published: July.29: 2020:

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Digital Innovation Funding Awards: Councils are to received a share of £800,000 to build and develop so ftware tools for delivering public services during during this #pandemic following on the 11-projects that h ave already received funding #AceFinanceDesk report

#AceFinanceReport – July.27: Councils have responded to the #coronavirus #pandemic by rapidly introducing innovative new ways of serving their communities: This new funding will help ensure they continue to modernise and improve the way they deliver public services: Examples include £67,500 for Newcastle City Council to develop a tool which predicts whether parts of a city are overcrowded which will help understand whether social distancing can be followed: Projects will also build on recent rule changes allowing councils to focus on letting people have their say on major planning applications online: Another project will expand on community and council networks to speed up local support for vulnerable people:

Councils awarded £800,000 to build on digital advances made during pandemic

Communities across the country are set to benefit from better local services as councils receive a share of £800,000 for innovative digital projects.

Ministry of Housing, Communities & Local Government

Local Government Minister Simon Clarke MP said:

Councils have made huge efforts to support their residents at this testing time – by housing rough sleepers quickly, supporting vulnerable people and ensuring services such as bin collections continue.

They have had to adapt their services from in-person to online, using technology to do so and I am determined we capitalise on this and use everything we have learned to improve efficiency and make services better for residents and communities.

That’s why we’re giving them £800,000 to build on the rapid digital innovation of recent months so that local communities continue to feel the benefits of more efficient public services.

The announcement comes 2 years since the start of the Local Digital Declaration, a pledge signed by over 220 councils and public sector bodies committing to driving efficiency and improvements in services through digital technology: An important part of the pledge is to share their success with other councils, and to work collaboratively with them, so people living across the whole country can benefit.

Further information

Eleven projects have been awarded funding:

  • Camden Council will receive £80,000 to make it easier for local people and businesses to have their say online on things like major planning projects and town centre changes. This will build on changes to rules on 14 May to allow councils to publicise planning applications mainly on social media and other electronic means if they couldn’t do site notices, neighbour notifications or newspaper publicity. They will work with Middlesbrough Council.
  • South Gloucestershire Council and the Royal Borough of Kingston upon Thames will jointly receive £80,000 to build on increased online access to public meetings which has been improved quickly due to social distancing measures stopping people attending in person. This will also cover citizens’ assemblies and statutory consultations. They will work withWest Berkshire Council, Oxford City Council, Staffordshire County Council, Northamptonshire County Council, Cambridgeshire County Council, Waltham Forest Council, and Milton Keynes Council.
  • Leeds City Council will receive £79,500 to develop a guide for all councils to ensure that people who may struggle with digital technology, especially those who are vulnerable of socially isolated, get the help they need. This will make it easier for them to use services and help with loneliness and local support. They will work with Croydon Council and Eastbourne Council.
  • Greater Manchester Combined Authority will receive £80,000 to develop a predictive modelling system to understand and prepare for the possible knock-on effects of the coronavirus pandemic on vulnerable children.
  • Newcastle City Council will receive £67,500 to develop a tool for people to use to know which parts of a city may be overcrowded and therefore where it would be difficult to adhere to social distancing measures. Their work to understand data could be used to help councils predict overcrowding.
  • Central Bedfordshire Council will receive £80,000 to build on successful data sharing between councils and voluntary community services that has helped to give vulnerable people support during the pandemic. Both groups would have better information about who needs support in their area and would be able to share information quickly and securely to help more people. They will work with the Greater London Authority, and Camden Council.
  • A group of councils will receive £120,000 to build on successful work to help vulnerable residents during the pandemic. They will use the information that’s been most useful to improve and speed up how councils identify vulnerable people so they can predict and give the right support. This merger of proposals will be worked on by Huntingdonshire District Council, Tameside Metropolitan Borough Council, Greater Manchester Combined Authority, North Yorkshire County Council, Bolton Council, Sedgemoor District Council, and Somerset’s councils.
  • East Riding of Yorkshire Council will receive £76,000 to build on what they’ve learned about changes to how staff have worked during the coronavirus pandemic. Social distancing measures have meant dramatic changes to how we work, with large numbers mostly working at home for the first time and others changing when they work to keep the workplace safe. This will help to design future working patterns that maximise productivity, efficiency and wellbeing for council staff delivering public services. They will work with North East Lincolnshire Council, North Lincolnshire Council and Hull City Council.
  • Manchester City Council will receive £80,000 to learn from how council teams – across housing, social care, healthcare and more – have worked together to support residents including some of society’s most vulnerable people.
  • Bolton Council will receive £23,000 to help ensure people who aren’t used to accessing council services online, and would normally prefer face-to-face contact by visiting council offices, are not stopped from accessing services. They will look at remote and self-service ways such as considering the introduction of sealed pods for face-to-face conversations.
  • Bournemouth, Christchurch and Poole Council will receive £34,000 to help them add extra functionality to a smartphone application they have developed that will help to prevent overcrowding on its beaches by telling people how busy sections are so they can do their bit to help ensure social distancing.
  • For more information, visit the Local Digital Collaboration Unit’s website: https://localdigital.gov.uk/c19-challenge/

#AceFinanceDesk report ………….Published: July.27: 2020:

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Law Commission Proposals: 27/07/2020: Consumers who have pre-paid for goods would be better protected if a retailer goes insolvent, as under the existing rules, if a company becomes insolvent, goods are held by administrators as assets belonging to the business under a law dating back to 1893 #AceFinanceDesk report

#AceFinanceReport – July.27: Under the existing rules, if a company becomes insolvent, goods paid for in advance that are still in its possession may be considered as assets belonging to the business: These goods can then be held by the company’s administrators and used to pay off the firm’s debts, potentially leaving consumers out of pocket: Consumer Affairs Minister Paul Scully has asked the Law Commission to consult on draft legislation to update the law that establishes when consumers legally own goods for which they have pre-paid: This is known as the transfer of ownership, and the law in this area has remained largely unchanged since 1893:

Law change to better protect consumers in event of insolvencies

Proposals will make it fairer for consumers and reduce the risk of them missing out if the company they have pre-paid for goods from becomes insolvent

Department for Business, Energy & Industrial Strategy

Consumer Affairs Minister, Paul Scully, said:

With more and more people prepaying for goods online, it is so important our laws are up to date to reduce the risk of customers losing out if a business unfortunately becomes insolvent.

This consultation will look at how the law can be brought into the 21st century, providing clarity for those managing insolvencies and better protection for consumers.

The law change would apply to scenarios where, for example, a person may have pre-paid for a pair of blinds tailored to fit their windows: If the company they have ordered from goes out of business before they have received the blinds, insolvency practitioners may label them as assets of the business, and use the proceeds to pay back creditors in the insolvency:

The proposals would also support those shopping online where goods are not immediately handed over at the point of sale, unlike when shopping in store: In 2020, around 20% of all retail sales take place online and require prepayment. The last few months have seen internet sales jump from 19.9% of all retail sales in January 2020 to 32.8% in May 2020.

The Law Commission recommends that, in that situation, legislation should include a list of events and circumstances which would be sufficient to transfer ownership to the consumer: For example, goods having been manufactured to the consumer’s own specifications, such as a sofa, or goods having been labelled with the consumer’s name.

Law Commissioner, Professor Sarah Green, said:

The current transfer of ownership rules are shrouded in complex language which consumers can find difficult to understand.

We believe it is time for the rules to be modernised so that consumers have clarity on their rights of ownership, especially in an insolvency situation.

The changes would build on the recent Corporate Insolvency and Governance Bill, which made permanent additions to the UK insolvency regime, as well as containing a series of measures to amend insolvency and company law to support business to address the challenges resulting from the impact of coronavirus: The Bill received Royal Assent on 25 June 2020:

Rules & Regulations:

  • The rules governing transfer of ownership were developed for commercial contracts and codified in statute in 1893. Since then, they have been restated in the Sale of Goods Act 1979 but not changed in their substance. Additional provisions were introduced in 1995 for goods forming part of a bulk. Although these apply to all sales contracts, including with consumers, they were developed with commodity trading in mind.
  • The Law Commission has agreed to produce and consult on draft legislation to amend the Consumer Rights Act 2015, in order to create a non-exhaustive list of events that will be sufficient to identify goods as being linked to a contract and result in a transfer of ownership from the business to the consumer.
  • This work will implement recommendations from the Law Commission’s July 2016 report, Consumer Prepayments on Retailer Insolvency, which was commissioned by the government.
  • The Law Commission recommends that legislation should include the following non-exhaustive list of events and circumstances which would be sufficient to identify ownership by the consumer:
  1. the goods have been labelled with the consumer’s name in a way that is intended to be permanent;
  2. the goods have been set aside for the consumer in a way that is intended to be permanent;
  3. the goods have been altered to a specification agreed between the consumer and the retailer;
  4. the consumer is told that goods bearing a unique identifier will be used to fulfil the contract;
  5. manufacture of the goods is completed, if the goods are to be manufactured to a specification agreed between the consumer and the trader;
  6. the consumer examines the goods and agrees they are to be used to fulfil the contract;
  7. the goods are delivered to a courier for delivery to the consumer;
  8. the goods are delivered to the consumer; or
  9. the goods are identified in some other way by the retailer, and the retailer intends the identification to be permanent.
  • The changes will not benefit a consumer if the item they have purchased has not yet been made.

Case studies:

Citizens Advice has provided the Law Commission with evidence that consumers sometimes think their goods are ready for collection, only to be turned away when they go to collect them. In this example, the consumer bought furniture for around £2,400:

Because our flat was in a state [the trader] told us that they would store our furniture until we were ready for delivery…. Our flat is now nearly there, so I tried to call [the trader] last week, to arrange a date to have our furniture delivered, only to discover that they had gone into receivership. I am horrified. I paid my money in good faith trusting that I would get what I had paid for.

Alternatively, goods may be left for alteration:

We ordered some curtains, paid for them and had them shortened by the shop… We called in today to collect them and were told that the shop had gone into receivership as of 12 noon yesterday and that we couldn’t have the curtains as they were assets of the company and the assets were frozen. Surely if we have paid for them, they are no longer the company’s assets but they are our assets and we should have been able to pick them up?

#AceFinanceDesk report …..Published: July.27: 2020:

Editor says #AceNewsDesk reports are provided at https://t.me/acenewsdaily and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

Energy Catalyst Round 8 Opens: Until Sept.16: Mission is to accelerate the innovation needed to end energy p overty and develop ‘ Products & Services ‘ that help countries in sub-Saharan Africa, S outh Asia, South East Asia or multiple regions access secure, low cost and low carbon energy #AceFinanceDesk report

#AceFinanceReport – July.26: The competition, Energy Catalyst round 8 – which is open now and runs until September 16th – seeks to encourage the development of products and services that help countries in sub-Saharan Africa, South Asia, South East Asia or multiple regions access secure, low cost and low carbon energy: They must be targeted at people, public services and local enterprises who are unable to afford or access existing solutions, or who lack the time or expertise to successfully use those solutions:

UK aid funding available for innovative energy projects

The UK’s innovation agency, Innovate UK, is offering £20m of UK aid funding to develop and demonstrate innovative solutions for clean, affordable and secure energy access in sub-Saharan Africa, South Asia or South East Asia.

Innovate UK

The Energy Catalyst’s mission is to accelerate the innovation needed to end energy poverty: By providing financial and advisory support to innovators we help create strategic partnerships, uncover insights and develop business models to improve lives in Africa and Asia. The challenges of energy poverty include:

  • over 1 billion people do not have access to electricity
  • over 3 billion people rely on solid fuels and kerosene for cooking and heating
  • grid based systems face economic and governance barriers
  • vast majority (80%) of those gaining access to electricity worldwide are in urban areas

Funding is available through Global Challenges Research Fund (GCRF). To be eligible projects must address:

  • energy access needs of sub-Saharan Africa / South and South-East Asia
  • all 3 areas of the ‘Energy trilemma’ – cost, emissions, and security of supply / energy access
  • gender equality and social inclusion

The competition is also co-funded by the UK’s Department for International Development (Dfid) Up to £3 million will be prioritised for projects specifically for energy storage. Dfid is also particularly interested in supporting projects in the areas of:

  • modern cooking
  • sustainable cooling
  • next generation solar
  • efficient and productive appliances
  • technologies and business models that help leave no-one behind

International Environment Minister Lord Goldsmith said:

As we recover from coronavirus, it is vital that we prioritise changing our relationship with the planet for good. Finding innovative and affordable ways to help people use clean energy will make a real difference in this mission.

As COP26 president, the UK will be bringing countries together to take action on climate change, including by committing to greener energy sources.

The previous seven rounds of the Energy Catalyst has seen a commitment of £140m funding – with an additional £60m of co-funding and £75m private funding– of 345 projects with 1,040 partners of which 113 have been non-UK based: More details of the competition can be found on the Innovation Funding Service

Countries in scope:

Sub-Saharan Africa: Angola, Benin, Botswana, Burkina Faso, Burundi, Cabo Verde, Cameroon, Central African Republic, Chad, Comoros, Congo, Côte d’Ivoire, Democratic Republic of the Congo, Djibouti, Eritrea, Eswatini (Swaziland), Ethiopia, Equatorial Guinea, Gabon, Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Lesotho, Liberia, Madagascar, Malawi, Mali, Mauritania, Mozambique, Namibia, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, Somalia, South Africa, South Sudan, Sudan, Tanzania, Togo, Uganda, Zambia, Zimbabwe

South and South East Asia: Afghanistan, Bangladesh, Bhutan, Cambodia, India, Indonesia, Laos, Malaysia, Myanmar, Nepal, Pakistan, Philippines, Sri Lanka, Thailand, Vietnam

#AceFinanceDesk report ………Published: July.26: 2020:

Editor says #AceNewsDesk reports are provided at https://t.me/acenewsdaily and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

Falkirk Growth Deal – Investment of £40-million will increase investment, create new jobs and d rive forward economic growth across the local economy by supporting sustainable travel, tourism and energy u nder the U.K. governments levelling across devolved nations #AceFinanceDesk report

#AceFinanceReport – July.26: The UK Government has taken the latest step toward ‘levelling up’ for every part of Scotland by pledging £40 million for the Falkirk Growth Deal – this will boost investment, create new jobs and drive forward economic growth across the area: The deal will see funding directed towards potential projects to boost the local economy by creating skilled jobs and investing in infrastructure improvements to support sustainable travel, tourism and energy: It will also help support the region’s strong chemical manufacturing industry at Grangemouth, securing local jobs and driving forward innovation as we move to a low carbon economy:

Investment of £40 million to unlock Falkirk’s economic potential in levelling up

UK Government announces investment in Falkirk Growth Deal.

Office of the Secretary of State for Scotland

The Falkirk growth deal is the 11th UK deal in Scotland. To date, the deals have set out support for numerous sectors across Scotland, including:

  • north-east Scotland looking to become a global centre for expertise on decommissioning and sustainability
  • the Borders region boosting tourism through the mountain biking centre
  • Inverness Castle being transformed
  • robotics and forensics attracting cutting-edge tech businesses to Scotland’s universities
  • Scotland’s engineering legacy being reborn through new advanced manufacturing and aerospace clusters

Scottish Secretary Alister Jack said:

We know that City Region and Growth Deals will be vital to Scotland’s economic recovery from coronavirus. The Falkirk Growth Deal will enable the regional economy to innovate, boosting investment and providing sustainable, high-quality jobs.

The pandemic has called for extraordinary economic measures, and the UK Government has done everything we can to support jobs and businesses. We have supported 900,000 jobs in Scotland with our furlough and self-employed schemes, including 18,500 in Falkirk.

This new deal brings the UK Government’s investment in growth deals across Scotland to £1.46 billion.

We look forward to working with our partners in Falkirk and the devolved administration in Scotland to develop innovative and effective proposals.

Background: The UK Government’s Coronavirus Retention Scheme is supporting 15,500 jobs in Falkirk and the Self-Employment Income Support Scheme has 3,000 recipients with payments worth £8.9 million issued locally.

#AceFinanceDesk report ………..Published: July.26: 2020:

Editor says #AceNewsDesk reports are provided at https://t.me/acenewsdaily and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

DWP Universal Credit Report: Confirmation that over a million households will soon receive a one-off lump sum of £149 in their bank accounts: The lump sum payment will be paid to those switching from one of the legacy benefits that Universal Credit is replacing (See list below or sign in via link) AceFinanceDesk repor t

#AceFinanceReport – July.26: Universal Credit is a payment to help with your living costs. It’s paid monthly – or twice a month for some people in Scotland .You may be able to get it if you’re on a low income, out of work or you cannot work:

Universal Credit

Contents

Government Digital Service

This guide is also available in Welsh (Cymraeg).

If you live in Northern Ireland, go to Universal Credit in Northern Ireland.

If you already get other benefits

Universal Credit is replacing the following benefits:

  • Child Tax Credit
  • Housing Benefit
  • Income Support
  • income-based Jobseeker’s Allowance (JSA)
  • income-related Employment and Support Allowance (ESA)
  • Working Tax Credit

If you currently get any of these benefits, you do not need to do anything unless:

  • you have a change of circumstances you need to report
  • the Department for Work and Pensions (DWP) contacts you about moving to Universal Credit

If you get tax credits, they will stop when you or your partner applies for Universal Credit. Check how tax credits and Universal Credit affect each other.

Severe disability premium

You cannot claim Universal Credit if you either:

  • get the severe disability premium, or are entitled to it
  • got or were entitled to the severe disability premium in the last month, and you’re still eligible for it

If you have a change of circumstances that affects the severe disability premium or your other benefits, report it and you’ll be told what to do next.

Sign in

Sign in to your Universal Credit account if you already have one.

#AceFinanceDesk report…………………Published: July.26: 2020:

Editor says #AceNewsDesk reports are provided at https://t.me/acenewsdaily and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

JETCO Meeting Report: International Trade Secretary Liz Truss and Minister Piyush Goyal agreed to explore opportunities for expanding and deepening our trade relationship: This will include an Enhanced Trade Partnership as the first step on a wider roadmap for a deeper trade partnership, and subject to progress could lead to a future Free Trade Agreement #AceFinanceDesk report

#AceFinanceReport – July.25: Trade between the UK and India was worth £24 billion last year alone, and India is now the second-largest investor in the UK economy: The UK’s International Trade Minister Ranil Jayawardena also raised the ambition to remove barriers for businesses across a range of sectors including food and drink, healthcare and life sciences, IT and data, chemicals and services:

UK and India agree deeper trading relationship at cabinet level summit

Today the UK and India held the 14th Joint Economic and Trade Committee (JETCO).

  • Both countries agreed to develop a deeper trading relationship. Subject to progress, this could lead to a future Free Trade Agreement.
  • The UK’s new Global Tariff will bring benefits of up to £40m per year for Indian exporters, assuming all duties are levied.

Work has been underway to reduce barriers to trade since both countries completed a Joint Trade Review in 2018: The UK’s new Global Tariff (UKGT) schedule serves as a ‘building block’ towards an increasingly open trade partnership. Assuming all tariffs are levied, the UKGT could boost trade flows by reducing tariffs on Indian exports by up to £40m per year. Alongside this, UK companies have secured recognition and registration of polyhalite, a multi-nutrient fertiliser mined in the UK, which will enable UK exports and help Indian farmers to increase crop yields while supporting a cleaner, greener and sustainable environment. Increasing investment in each other’s markets is more important than ever as both economies seek to recover from the impact of Covid-19: At today’s meeting, the UK and India agreed to work towards removing additional barriers, and to work together to ensure both countries maximise the potential of their digital economies including on data regulation and interoperability.

International Trade Secretary Liz Truss said:

My first JETCO with India has been an opportunity to take stock of progress made so far between our countries and look at barriers preventing our trading relationship from reaching its full potential. India is an incredibly important partner for the UK. As one of the world’s largest economies and democracies, it is a powerhouse that will play a major role in shaping the 21st Century. Today we agreed to look in detail at a framework for a deeper relationship. At this stage we want to keep all options on the table, including the possibility of a free trade agreement as some point in the future.

UK’s International Trade Minister Ranil Jayawardena also led a business plenary during the JETCO, organised by the UK India Business Council (UKIBC). Ministers spoke with UK and Indian businesses about our shared ambition to deepen our economic and commercial partnership with India.

International Trade Minister Ranil Jayawardena said:

The United Kingdom and India share a strong and enduring bond, strengthened by a modern trading relationship. It’s clear from today that there are huge opportunities to deepen our relationship with India. We want to knock down existing trade barriers, create more good jobs and encourage innovation between two of the greatest democracies in the world. I’m pleased to see our shared ambition in the spotlight today as we boost our trading relationship.

Sir Philip Barton, High Commissioner to India, said:

India and the UK are, in PM Modi’s own words, an “unbeatable combination”. That’s particularly true when it comes to trade and investment, where there is huge potential to unlock existing barriers to trade. I look forward to further strengthening our ambitious partnership in coming years to deliver jobs and prosperity for both economies.

Further Information

  • The UK-Indian JETCO has been meeting for over 15 years, making it the UK’s longest standing meeting of its kind.
  • British and Indian investments are supporting over half-a-million jobs in each other’s economies.
  • There are 842 Indian companies in the UK, employing more than 110,000 people, which together raised almost £41 billion in revenue last financial year. The combined revenue of Indian companies in the UK has grown by 87% in the last five years.
  • Since 2016 Indian firms have raised £11.5 billion in masala, dollar and green bonds on the London Stock Exchange.
  • The UK is the second fastest growing G20 investor in India over the last 10 years, investing over £22 billion and helping create more than 422,000 jobs. In turn, India is now the second-biggest investor in the UK – with 120 new projects and over 5,000 new jobs in 2019-20.

Media

For media queries, please contact:

Sally Hedley, Head of Communications
Press and Communications, British High Commission,
Chanakyapuri, New Delhi 110021. Tel: 24192100

#AceFinanceDesk report ……………Published: July.25: 2020:

Editor says #AceNewsDesk reports are provided at https://t.me/acenewsdaily and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com