Latest news with #SpendingReview
Daily Mail
2 hours ago
- Business
- Daily Mail
Council tax bills 'set to rise in Southern England' under Labour plan to send more taxpayers' money to the North
Council taxpayers in the south of England could see their rates rise as the government seeks to send more money to the North, it was warned today. Local Government Minister Jim McMahon this morning unveiled proposals to 'modernise' they system and send more than £2billion 'to the places and communities that need it most'. Critics fear that this means that central government funding will be sent away from the South to poorer areas in the North and Midlands - with southern councils forced to make up the shortfall by increasing tax locally, or cut services. One told the Times: 'There is no doubt at all that it is going to be polarising. 'For a lot of councils in richer parts of the country the current system works quite well for them and they're going to lose funding. 'A lot of councils in rural areas are also worried that they will see their funding diverted into deprived urban areas.' But supporters argue that poorer areas have been relatively overtaxed and underfunded compared to the South, where many affluent areas charge lower tax rates. Henri Murison, chief executive of the Northern Powerhouse Partnership, pointed out that the owner of a Band D property in Hartlepool pays £2,498.53, while the owner of a £10 million mansion in Wandsworth pays just £1,980.15 in the same band. 'Asking those residents to contribute closer to what people in the North are already paying is reasonable,' he added. 'In fact, a full revaluation of council tax bands, which we believe is long overdue, would have resulted in even higher bills for many London boroughs, where properties are routinely placed in bands far lower than they would be under a fair system.' In a written statement to MPs today Mr McMahon said too many areas 'have felt the combined impact of reducing government support and low historical tax bases from which to raise income, coupled with high levels of need driving up demand for services'. 'It is not fair that people in these places too often see council tax bills hike while neighbourhood services which make areas clean, safe and decent have felt the brunt of reductions,' he said. 'The current funding system is a decade old and reinforces the divide between deprived places and the rest of the country – that's why we are taking action where previous government failed.' Last week the Spending Review revealed that the average home's council tax bill will increase by £359 by 2029. Ministers are working on the basis that councils will increase the rate by 5 per cent a year for the next three years. The rise will fund the settlement for local authorities, which includes social care – an issue on which Labour is yet to outline its policy.
Scotsman
7 hours ago
- Business
- Scotsman
AI spending vows should be good for business
The government knows AI can have a positive effect on public services and the economy, says Mark Ferguson Mark Ferguson looks at the impact of Chancellor Rachel Reeves' recent handouts on innovative tech companies Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. 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... The importance being placed on AI and other technologies as drivers of UK economic growth is evident from funding commitments outlined in the Government's annual Spending Review. The pledges made by Chancellor Rachel Reeves will have implications for organisations that both develop and deploy AI solutions, for how UK-based technology companies and universities might innovate, and for the way public sector bodies will operate in future. Advertisement Hide Ad Advertisement Hide Ad The review envisages more than £2 billion of public funds being used to implement the AI opportunities action plan that the government endorsed earlier this year. This, it said, will mean 'a twentyfold expansion' of the capacity of the UK's AI Research Resource, which was established under the previous government to provide so-called 'super-computer' support for AI research. The housing area for Edinburgh University's planned Exascale supercomputer Up to £500 million will also be used on the creation of a new UK Sovereign AI Unit to help 'support the emergence of national AI champions' in tandem with the British Business Bank, which itself is to get almost £3 billion in increased funding 'to support companies to start, scale and grow in the UK'. Another major technology-related funding commitment set out in the spending review is the up to £750 million pledged for a new supercomputer at Edinburgh University - described by the government as an asset that 'will give scientists in all UK universities access to computational power that can be found in only a handful of other nations'. In her announcement, Reeves further pledged £240 million for the AI Security Institute and at least £1 billion to support the scaling up of the Advanced Research and Invention Agency - which provides R&D funding for technological and scientific breakthroughs - as part of a wider £22 billion R&D funding commitment. Advertisement Hide Ad Advertisement Hide Ad Another £1.9 billion was pledged for digital infrastructure, to ensure wider access to and speedier broadband connectivity, as part of wider infrastructure investment commitments. Further funding has also been pledged to support the use of AI in government as part of a broad efficiency drive. The UK's ability to produce its own AI infrastructure, data, and skilled workforce is important for the public sector for enabling focused research on the UK's most critical priorities like healthcare and defence, and for supporting academics and start-ups with affordable resources to train AI models. It should also allow access to AI compute at times of disruption. The Department for Science, Innovation and Technology is arguably the biggest winner among government departments from the chancellor's spending review, with an average annual growth of 7.4% in day-to-day spending over the next five years, which outstrips every other departmental rise comfortably. The government has spoken favourably since Day One about the positive impact that AI can have on public services and the economy, and based on the Spending Review pledges, it is putting its money where its mouth is. Advertisement Hide Ad Advertisement Hide Ad Many of the details announced make good on the commitments made as part of the government's response to the AI opportunities action plan in January, when it committed to accepting all 50 recommendations in the plan. For businesses attention will now turn to the publication of the government's industrial strategy, which is expected to be published shortly, for further details on how digital and technologies can contribute as one of the eight growth-driving sectors.
Business News Wales
13 hours ago
- Sport
- Business News Wales
Wales to Benefit From £900m Investment for Major Sporting Events and Grassroots Sport
Villages, towns and cities across Wales and the UK at large are set to benefit from a 'transformational' investment of more than £900 million in sport. The funding will support a pipeline of major international events and deliver new grassroots facilities. The funding commitment, which was outlined in the Spending Review last week, has now been set out by Culture Secretary Lisa Nandy. It will see more than £500 million committed to supporting the delivery of a host of world class sporting events being held in Wales and around the UK over the coming years, including the first stages of the Tour de France in 2027, the European Athletics Championships 2026 and the men's UEFA EURO 2028 – alongside Ireland – for which Cardiff's National Stadium of Wales (Principality Stadium) is a host venue. These events are expected to deliver significant economic benefits, with EURO 2028 alone projected to generate up to £2.4 billion in socio-economic value across the UK. Work is also continuing with the Home Nation football associations, including the Welsh FA, and devolved administrations to develop the bid for the UK to host the Women's FIFA World Cup in 2035. In tandem at least £400 million will be invested in new and upgraded grassroots sport facilities that promote health, wellbeing and community cohesion. Work to remove the barriers to physical activity for under-represented groups, such as women and girls, people with disabilities, and ethnic minority communities will continue. Already, government funding has helped clubs to build new pitches and changing rooms, install floodlights, solar panels and goalposts; supporting a range of sports including football, rugby and others. Government funding has already seen £400,000 invested in a new artificial pitch at Abersychan Comprehensive School and a £220,000 upgrade of the grass pitch at Ruthin Town FC. Secretary of State for Culture, Media and Sport, Lisa Nandy, said: 'Sport tells our national story in a way few other things can – uniting communities, inspiring millions, and showcasing our nation on the global stage. 'This major backing for world-class events will drive economic growth across the country, delivering on our Plan for Change. Coupled with strong investment into grassroots sport, we're creating a complete pathway to allow the next generation of sporting heroes to train and take part in sport in communities across the UK. ' Secretary of State for Wales, Jo Stevens, said: 'The investment in sport is fantastic news and means that grassroots facilities all around Wales will be upgraded, expanded, and improved, helping more people get active and improve their wellbeing. 'The £500 million for sporting events will strengthen Wales and the UK's global reputation for excellence in staging major sporting events, hosting EURO 2028 in our National Stadium in Cardiff and a stage of the Tour de France in 2027.' Debbie Hewitt MBE, Chair of the UK and Ireland 2028 Board, said: 'We welcome today's announcement of significant investment in sport from the UK Government, which marks a major boost to the successful delivery of UEFA EURO 2028. This commitment will not only help us stage a world-class tournament but also ensure that communities across the UK feel long-lasting benefits – from enhanced grassroots facilities to stronger local economies. 'UEFA EURO 2028 is a once-in-a-generation opportunity and with this investment, we are better placed than ever to deliver an event with pride, purpose and impact.' Nick Webborn, Chair of UK Sport, said: 'We welcome the Government's ongoing commitment to hosting the Tour De France, Tour De France Femmes and Euro 2028. These events have huge potential to drive economic growth, bring people together and inspire the next generation in communities across the UK. 'We believe that live sport is a fundamental part of this country's social fabric. We are really excited to be working with the Government and support their commitment to secure the pipeline of big events beyond 2028 to ensure we can continue to reach, inspire and unite people in every corner of the country.'
The Herald Scotland
15 hours ago
- Business
- The Herald Scotland
Major sporting events and grassroots sport to receive £900 million funding
At least £400 million will also be invested in new and upgraded grassroots sport facilities nationwide after the funding was outlined in last week's Spending Review, the Department for Culture, Media and Sport (DCMS) said. England, Scotland, Wales and the Republic of Ireland will be co-hosting Euro 2028, with the showpiece men's football tournament expected to generate up to £2.4 billion in socio-economic value alone, the DCMS said. Lisa Nandy said the investment represented 'major backing' to deliver world-class sporting events (Gareth Fuller/PA) Other major events scheduled to be held in the UK include the women's Rugby World Cup in England this summer, the 2026 Commonwealth Games in Glasgow and the Invictus Games, founded by the Duke of Sussex, in Birmingham in 2027. Earlier this month, more than 100 athletes called on the Prime Minister to support a London bid for the 2029 World Athletics Championships. But the Government is yet to commit to the bid, but has not ruled it our either, with a spokesperson saying it was working with UK Sport to secure a series of major sporting events up until 2035. However, the DCMS confirmed that work was continuing to develop a bid for the UK to host the women's Fifa World Cup in 2035. Sporting bodies and local leaders for grassroots initiatives will work closely with the department to establish what each community needs before further plans are laid out. It said the investment will not only help create jobs and boost regional prosperity, but would also reduce barriers to opportunity and 'bring communities together through shared national moments'. Culture Secretary Lisa Nandy said: 'Sport tells our national story in a way few other things can, uniting communities, inspiring millions, and showcasing our nation on the global stage. 'This major backing for world-class events will drive economic growth across the country, delivering on our plan for change. 'Coupled with strong investment into grassroots sport, we're creating a complete pathway to allow the next generation of sporting heroes to train and take part in sport in communities across the UK.' The peloton rides past as stage two of the Tour de France passes York Minster, Yorkshire in 2014 (John Giles/PA) The announcement comes after Ms Nandy previously pledged £100 million to upgrade sports facilities across the UK, including new and improved pitches, changing rooms, goalposts and floodlights, back in March. Nick Webborn, chairman of UK Sport, praised the new funding as having 'huge potential to drive economic growth, bring people together and inspire the next generation'. He said: 'We believe that live sport is a fundamental part of this country's social fabric. 'We are really excited to be working with the Government and support their commitment to secure the pipeline of big events beyond 2028 to ensure we can continue to reach, inspire and unite people in every corner of the country.' Stuart Andrew, the Conservative shadow culture secretary, said: 'Funding for major sporting events and grassroots sport is welcome – but the spending review was no boon for British sports. 'Rachel Reeves' tax hikes are forcing schools to sell playing fields and driving up business rates for stadiums. 'At the same time, Labour have scrapped the Opening Schools Facilities fund and the National Citizen Service – depriving young people of sporting opportunities. 'Labour must recognise that their economic mismanagement is dealing a devasting blow to the sports sector.'
South Wales Argus
18 hours ago
- Business
- South Wales Argus
Energy bills: Millions eligible for £150 Warm Home Discount
The Warm Home Discount scheme, which helps households in the UK with the cost of energy bills, will be extended to another 2.7 million homes. This brings the number of households eligible for the warm home discount up to just over 6 million, the Department for Energy Security and Net Zero (DESNZ) has confirmed after a consultation. The changes remove some restrictions on eligibility and mean every bill payer on means-tested benefits will qualify. Some 900,000 families with children and 1.8 million homes in fuel poverty are set to benefit from the payment. Prime Minister Keir Starmer said: 'I know families are still struggling with the cost of living, and I know the fear that comes with not being able to afford your next bill. 'Providing security and peace of mind for working people is deeply personal to me as Prime Minister and foundational for the Plan for Change. 'I have no doubt that, like rolling out free school meals, breakfast clubs and childcare support, extending this £150 energy bills support to millions more families will make a real difference.' Energy Secretary Ed Miliband said: 'Millions of families will get vital support with the cost of living this coming winter, demonstrating this government's commitment to put money in people's pockets through our Plan for Change.' Recommended reading: Simon Francis, Coordinator of the End Fuel Poverty Coalition, commented: 'Expanding the Warm Home Discount is a welcome step that will help more households this winter. "But the scheme still leaves out some of those most at risk, including people with long-term health conditions, disabilities and those on non-means tested benefits who often face the highest energy costs. 'With bills still hundreds of pounds higher than in 2020, millions will continue to face unaffordable energy and cold, damp homes this winter. 'Alongside the energy efficiency investment announced in the Spending Review, the government must commit to a permanent social tariff and reform energy pricing to ensure every household can benefit from cheap renewable energy.' The Conservatives criticised the move, saying energy prices are expected to keep climbing overall. Andrew Bowie, the acting shadow energy secretary, said: 'Labour promised to cut everyone's energy bills by £300 but they have increased by £280 and are forecast to keep going up. 'Energy bills need to come down but this announcement will cut bills for just a quarter of households whilst increasing them for everyone else. 'Kemi Badenoch and I have been clear that net zero by 2050 is impossible without bankrupting Britain and making hard-working families worse off.' What is the Warm Home Discount Scheme? The Warm Home Discount Scheme is a one-off discount on your electricity bill worth £150. The money is not paid directly to you but is taken off of your energy bills between October 2024 and March 2025. You may be able to get the discount on your gas bill instead of your electricity bill if your supplier provides you with both and you are eligible.
