Autumn Statement 2023: the chancellor’s speech in full

The UK government has sought to change the £2.5 billion worth of British arbitration services through an Arbitration Bill, which seeks to modernise the procedure better to resolve legal disputes for businesses. By
Britain could become a global leader in arbitration services on par with Singapore and Paris if the UK government's new Arbitration Bill gets passed in the UK parliament. Pixabay
Britain is a step closer to becoming the ultimate global destination for legal dispute resolution courtesy of a new legislation tabled at the UK parliament yesterday. The UK Ministry of Justice announced today (November 22) that the UK has introduced a new bill to solidify London's reputation as a global leader in arbitration services. The UK government is trying to make London's arbitration services a more simple, efficient and faster process to resolve legal disputes with the Arbitration Bill. UK SMEs and businesses will benefit from this as it will allow for faster resolution of legal disputes including family disputes, rental reviews and international contracts and claims made by foreign investors. At present British arbitration services are worth over £2.5 billion to the UK economy every year and modernising it will make it on par with competitors like Paris and Singapore. This is just the fees with other charges the valuation is more and the Arbitration Bill seeks to boost that. This is the first arbitration service in the UK that will be modernised in 26 years. With the Arbitration Bill in place, UK arbitrators can make UK SMEs and businesses save time and money by settling legal disputes without court visits. Speaking about the Arbitration Bill, UK Justice Minister Lord Bellamy said: "These much-needed changes will modernise the role of arbitrators and further cement our position as a world leader in the field." "The UK is a globally-respected hub for legal services, with English and Welsh law the bedrock for the majority of international disputes, and the Arbitration Bill will ensure businesses from around the world continue to come here to resolve their disagreements," Lord Bellamy added. The Justice Minister further explained why the reform was necessary as countries all over the world have already modernised it, and the UK needs to be ahead of the curve to be a business destination. For this, the UK government asked the Law Commission to review the Arbitration Act in 2021 and the commission consulted extensively before putting forward recommendations. Now, the Sunak government has fully accepted the Law Commission's recommendations to make the UK Arbitration services fair and efficient as well as economically beneficial for the country
Proposed changes in the Arbitration Bill
The Law Commission has proposed to strengthen the UK court's powers to support emergency arbitration for fast-track time-sensitive cases like preserving evidence being destroyed. Other recommendations include more clarity in the arbitration law, simplifying procedures to reduce delays and costs along the protection of arbitrators from lawsuits. The CEO of Chartered Institute of Arbitrators, Catherine Dixon welcomed the UK government's decision to reform the Arbitration Act as a key priority in the UK Parliament. Dixon revealed how they worked closely with the UK Law Commission to review the 1996 Arbitration Act, saying that they are delighted to see the majority of their recommendations adopted in the Law Commission's report and, subsequently in the Bill. We are pleased that the UK Government has included legislative reform of the Arbitration Act as a key priority in this Parliament, recognising the importance of arbitration to the UK and globally, as the Act forms the basis of legislation in many other jurisdictions. The Arbitration Bill tabled at the Parliament yesterday will let UK arbitrators expedite decisions on issues with no real prospect of success and also put the onus on the arbitrators to tell clients about circumstances that could make them impartial. Furthermore, arbitrators have to point out if agreements are supported by relevant UK laws in England, Wales or Ireland. The Bill will also ensure that the arbitrators don't face the liability for resignations and support them to make impartial decisions. Read more

Arbitration Bill To Make UK A Global Leader in Legal Business Disputes Handling

Hunt to Make UK Investment Tax Break Permanent in Growth Push
Netanyahu to Convene Cabinet as Gaza Hostage Deal Gets Closer
Champagne expects NextStar to bring in 'very few' foreign workers to help build plant
Brazil’s Lula Seeks to Patch Up Tattered Relations With Argentina’s Milei
Biden Pushes Congress on Funds to Counter Fentanyl After Xi Deal
South Africa Leads Fresh Critique of Israel at BRICS Meeting
EU Prepares Plan to Give Ukraine Lasting Security Commitments
Rutte Seizes Lead in NATO Job Race as He Exits Dutch Politics
North Korea Appears to Have Launched Rocket With Satellite
UK Lifts National Living Wage by Almost 10% to £11.44 an Hour
Record Mexico Bond Sales Set to Spill Into 2024, Santander Says
South African Lawmakers Vote to Shut Down Israel’s Embassy
China’s Xi Repeats Call for Cease-Fire in Israel-Hamas War
Netanyahu to Convene Cabinet as Gaza Hostage Deal Gets Closer
Hamas Chief Says Close to ‘Truce’ Amid Hostage Negotiations
Tech Curbs and Bank Tax: An Investor’s Guide to Dutch Election
Milei Meets Outgoing Argentina President in Start of Transition
The Dutch Rethink Sex, Drugs and Profits as They Head to the Polls
A New Front Is Opening Up in the US-China Conflict Over Chips
Hulu for $1, Max for $3: Streaming Services Slash Prices This Black Friday
OpenAI Encourages Staff to Focus on Work Despite Boardroom Chaos
Hamas Use of Binance Cited in $4.3 Billion Settlement With US
Sam Altman, OpenAI Board Open Talks to Negotiate His Possible Return
Nvidia Investors Give Ho-Hum Reaction to Latest Growth Surge
HP Sales Miss Estimates as Businesses Hold Off Buying PCs
Binance’s Richard Teng to Succeed Zhao as Crypto Exchange’s CEO
Here Are the Most-Serious Allegations in the US Case Against Binance
Binance Sees Outflows With BNB, Altcoins Down After Plea Deal
Airbus, Deutsche Telekom Fight for EU Cloud Sovereignty Rules
Trump’s Truth Social Parent Company Sues 20 Media Outlets
North Korea Appears to Have Launched Rocket With Satellite
Sonos Readies $400-Plus Headphones to Rival Apple and Bose, TV Set-Top Box
Blackstone, Permira Near €14 Billion Deal for eBay-Backed Adevinta
Mark Mobius Sees Argentina Dollarization as a Huge ‘Boost’ to Economy
Ford to Scale Back Planned Battery Plant on Weaker EV Demand
Nvidia’s $240 Billion Rally to Test Whether Great Is Good Enough
US Seizes $9 Million in Tether Coins Tied to Romance Scams
OpenAI in ‘Intense Discussions’ to Unify Company, Memo Says
The U.S. Fed is failing in four ways: Mohamed A. El-Erian
Apple, JPMorgan turn to pay now grow later
Remote Working Boom Is Huge for College Towns Like Knoxville
Walmart flashes a warning sign to the entire consumer economy: Andrea Felsted
Millennials are finally spending like grown-ups
Dismal U.S. GDP report raises the odds of recession this year: Gary Shilling
Musk is wrong for Twitter even if deal math works out
Chocolate bunnies can teach us to save our food supply
The Fed has made a U.S. recession inevitable
America's oil reserve weapon risks misfiring
Four-day workweeks can burn you out
U.S. Fed expects a soft landing. Don't count on it
Markets are pushing Fed into developing-economy territory
Commodity traders go from bonanza to bailout plea
Putin's war shows West must clean up dirty money
Salary transparency is good for everyone
Microsoft's US$69B Activision deal could be a blunder
What if the oil market bulls are wrong and this lonely bear is right? Canada's trucker protest may spread from Ottawa to U.S.
Crypto Market Is Just Fine With a $4 Billion Penalty for Binance
Argentina Investors Cheer Milei Victory, Brace for Peso Selloff
Wood’s Ark, 21Shares Unveil Fee on Pending Spot Bitcoin ETF
Bitcoin ETF Hype Has Wall Street Eyeing $100 Billion Crypto Potential
China’s Early Stage Technology Stocks on Brink of Bull Market
Lasting Recovery in Small Caps Still Elusive as Debt Costs Bite
SEC Defers Decisions on Two More Spot Bitcoin ETF Applications
Wall Street Traders Are Placing All-or-Nothing Bets on a Soft Landing
JPMorgan’s Struggling ETFs Show Demand Crisis for Do-Good Funds
Jump Spins Off Wormhole Project, Shrinking Its Crypto Business
Active ETF Boom Is Mostly a Mirage as Stockpicking Fades Away
Crypto Firm CoinShares Looks to Buy ETFs From Rival Valkyrie
Biggest Stablecoin Issuer Tether Now Wants to Become a Major Bitcoin Miner
Bitcoin Flirts With $38,000 as Spot ETF Hopes Encourage Bull Run
SEC Defers Decisions on Spot Bitcoin ETF, Grayscale Ether Futures Filings
Bitcoin-Stocks Correlation Now Most Negative Since Covid’s Onset
Druckenmiller, Soros Cut Stakes in Nvidia After Share Surge
Former Crypto Lender Genesis Executive Garcia Starts New Venture
Stocks and Bonds Rally as Traders Bet That Fed Hikes Are Done
World Series breakthrough for teams’ business
Shane Pinto suspension the result of a regulated gambling market that works, say industry insiders
Canadian Football League fanatics fuel financials
What’s next for private equity investment in professional sports? Canada’s Davis Cup team finding love
Impact of Jersey Ads on the NHL
Promising Puck Drop for PWHL
Betting on Women's Sports is on the Rise
NHL expands market to Oz
‘Tis the Season for Selling Sports Books
Television deals, ratings generate record-setting NFL revenue
Playing for global basketball and sponsorship glory
Awareness still at disadvantage in decades-long battle for tennis pay equity
FanDuel, Rivalry deliver something new for betting customers
Corporations considering Canadian cricket
Joe Mayes, Bloomberg News
UK Chancellor of the Exchequer Jeremy Hunt. , Photographer: Carlos Jasso/Bloomberg
(Bloomberg) -- Chancellor of the Exchequer Jeremy Hunt will make permanent a £10 billion ($12.5 billion) investment tax break, answering a key demand from UK businesses as he seeks to restore growth to the British economy. Hunt plans to extend indefinitely the so-called “full-expensing” policy, a 100% tax relief on investment spending that was due to expire in 2026, according to a person familiar with the matter, who requested anonymity discussing unannounced plans. The measure will be a key plank of the chancellor’s Autumn Statement on Wednesday, as he and Prime Minister Rishi Sunak seek to lift Britain’s sluggish economic growth as the country flirts with recession. Hunt is under pressure to deliver a vote-winning economic package as the governing Conservatives lag 20 points behind the main opposition Labour Party ahead of a general election expected next year. Hunt is also due to announce cuts to national insurance on Wednesday, the Times newspaper reported, without saying how it obtained the information. Expectations have grown around the prospect of personal tax cuts after Prime Minister Rishi Sunak talked up the prospect earlier this week — after weeks of the chancellor downplaying expectations. The full expensing policy was first announced in Hunt’s spring budget, a three-year measure meant to soften the blow of his decision to increase the corporation tax rate to 25% from 19%. He’s repeatedly said he wanted to make the policy permanent if the public finances allow, a move that the government’s fiscal adviser, the Office for Budget Responsibility, said in March would cost “approaching £10 billion a year.”
Earlier on Tuesday, the Treasury said Britain will increase the national living wage by almost 10% to £11.44 an hour next year, a boost to the UK’s lowest earners and a move Hunt said would “end low pay in this country.” Some 2.7 million workers will benefit from the raise. ©2023 Bloomberg L.P.

Hunt to Make UK Investment Tax Break Permanent in Growth Push

Pennine Healthcare wins Make UK Award
20 November 2023
Pennine Healthcare
The award has been developed to recognise a company that demonstrates exceptional adaptability and resilience to impact their business and improve lives and society. This year Make UK specifically focused on manufacturing companies who demonstrated a positive societal impact, who have supported or enhanced their local community, network, or environment. Graeme Cameron, Pennine Healthcare’s CEO said: “Manufacturing is at the heart of Pennine and the heart of Derby. Manufacturing is the way that the UK will grow and develop as a country, and with global disruption it has never had more of a focus. I’ve never been prouder of the team here at Pennine.”
Pennine’s submission was built around its work with its employee council, ‘We Matter’, as well has its annual spring clean, greenbelt and charity efforts. Pennine was also praised for its internal Mental Health Programme, which has led to the creation of Mental Health First Aiders across the business. Dan Wilson, head of marketing, said: “As corporate social responsibility becomes more and more important in communities across the UK, it’s brilliant that Pennine has been recognised for our efforts, especially by such a respected organisation as Make UK. We look forward to competing in the national final, against other regional winners, which takes place in January 2024.”

Pennine Healthcare wins Make UK Award

Fanuc UK has called on the government and political leaders to develop a cross-party strategy to secure the future of UK manufacturing. Speaking live at the Fanuc Open House event in Coventry, Tom Bouchier Fanuc UK’s managing director, said a Make UK report identified that 99% of manufacturers want an industrial strategy, and 87% believe it would give their business a long-term vision: “What we need now is a coherent, joined up strategy for manufacturing, with cross-party consensus, to give businesses the certainty they so badly need. As the only developing country without an industrial strategy, we’re in danger of being left behind if we can’t deliver this soon.”
The morning’s first panel debate, focusing on overcoming barriers to automation, featured insights from industry leader Stuart Whitehead of the Jefferson Group, who stated: “Many UK firms are still addicted to cheap manual labour, focusing on short-term costs rather than long-term gains.”
The panel agreed that highlighting the longer-term paybacks of automation – including increased efficiency and sustainability gains, as well as compensating for worker shortages – is key to encouraging greater uptake of robotics in the UK. Andy Street, Mayor of the West Midlands, encouraged businesses to embrace automation: “Manufacturing is a worldwide, competitive race and in order for UK firms to be competitive, they need to increase their productivity. Automation solutions such as those on display at the FANUC Open House can help UK companies to remain competitive in the long term. What’s happening here is really important for the future of our economy.”

Fanuc UK calls on government to focus on industrial strategy

The Association of British HealthTech Industries (ABHI) is a nonprofit organization that works with regulators and helps companies better understand the health technology environment. The organization is based in London, England.

Association of British HealthTech Industries

Small businesses make up a significant proportion of the ABHI membership , and the healthtech industry at large , and the partnership with Make UK is part of a strategic drive to provide British businesses with an enhanced manufacturing offer .

ABHI and Make UK partner to fuel healthtech sector growth

Boutros Bear is a digital health company that focuses on improving the quality of life for people recovering from chronic conditions. The company offers evidence-based chronic illness care programs, which include one-to-one support, bespoke e-learning, and access to a variety of digital resources designed to manage chronic illness in the workplace. These programs primarily cater to the needs of employers, aiming to enhance the mental and physical wellbeing of their workforce. It is based in Cambridge, England.

Boutros Bear

NOF is a company focused on bone health, specifically in the domain of osteoporosis prevention, research, advocacy, and education. The company offers a range of services including patient education, professional training, and resources for the prevention, diagnosis, and treatment of osteoporosis. It primarily serves the healthcare industry, providing tools and resources for healthcare professionals involved in osteoporosis care. It is based in Arlington, Virginia.

SGS (VTX: SGSN) is an inspection, verification, testing, and certification company. It provides connectivity and products, health and nutrition, digital solutions, and industry environment. The company was founded in 1878 and is based in Geneva, Switzerland.

Trades Union Congress (TUC) support trade unions to grow and thrive, and stand up for everyone who works for a living. It is based in London, England.

Trades Union Congress

Stadium Group

Smiths Detection Group

Smiths Group

Make UK is an economic development agency that provides business support in the manufacturing and engineering sectors. It is based in London, England.

Name	Work History	Title	Status
Stephen Phipson	Stadium Group, Smiths Detection Group, and Smiths Group	Chief Executive Officer	Current
Subscribe to see more	Subscribe to see more	Subscribe to see more	Subscribe to see more

Name	Stephen Phipson	Subscribe to see more
Work History	Stadium Group, Smiths Detection Group, and Smiths Group	Subscribe to see more
Title	Chief Executive Officer	Subscribe to see more
Status	Current	Subscribe to see more

Wells Fargo Success Story

Professional Services

Platform Overview

Make UK

Executives

Make UK Management Team

2 Team Members